Press Release

Shri Keshav Cement and Infra Q3 FY24 Net Profit Up By 186%

Mumbai (Maharashtra) [India], February 16: Shri Keshav Cement & Infra Limited (BSE – 530977), engaged in the manufacturing of Cement and Solar Power Generation and Distribution in the state of Karnataka has announced its unaudited Financial Results for the Q3 FY24.

Key Financials at a Glance:

• Total Income of ₹ 34.63 Cr, YoY growth of -0.51%

• EBITDA of ₹ 11.69 Cr, YoY growth of 12.47%

• EBITDA Margin of 34.38%, YoY growth of 408 Bps

• Net Profit of ₹ 3.97 Cr, YoY growth of 186.03%

• Net Profit Margin (%) of 11.46%, YoY growth of 748 Bps

• EPS of ₹ 2.52, YoY growth of 117.24%

Commenting on the performance, Mr. Venkatesh Katwa, Chairman of Shri Keshav Cement & Infra Limited said, “Following the conclusion of the monsoon season, we typically experience a favorable period, as evidenced by our improved performance in Q3 FY24, marked by a significant increase in profitability at both operating and net levels.

Our enhanced performance can be primarily attributed to effective cost management and the softening of raw material prices. We anticipate this trend to persist, thereby enabling us to maintain our margin profile for the remainder of the financial year.

Throughout the quarter, we witnessed other positive developments. The company has received permission to expand its solar capacity from 37 MWP to 40 MWP, and our Capex plan remains on track for capacity expansion and modernization. We anticipate trial production runs to commence from July 2024, providing a further boost to our growth trajectory.

I am pleased to highlight recent achievements that reflect our commitment to excellence. We have been recognized for maintaining the highest quality of cement and achieving zero product failures over the last three years by the Bureau of Indian Standards (BIS), Hubli.

With our Capex initiatives, reduction in raw material prices, and expansion of solar capacity aligning favorably, we envision promising growth prospects for the remainder of FY24 and beyond.”