Friday, September 29, 2023

Shri Keshav Cement & Infra FY23 Total Income Up 8%

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Mumbai (Maharashtra) [India], May 29: 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 audited Financial Results for the FY23.

FY23 Key Financials at a Glance:

  • Total Income ₹ 125.37 crore
  • EBITDA of ₹ 37.02 crore
  • EBITDA margin at 29.53% 
  • Net Profit of ₹ 2.91 crore 
  • Net profit margin at 2.32% 
  • EPS ₹ 2.45
  • Operating Cash Flow ₹ 33.24

Key Highlights for the year:

  • During the Year borrowings reduced by ₹ 36.02 Cr to ₹ 180.16 Cr 
  • During the Year Cement business contributed ₹ 93.20 Cr & Solar business Contributed ₹ 21.65 Cr
  • The Company announce fund raises of ₹ 45.98 Cr on Preferential basis 

Commenting on the performance, Mr. Venkatesh Katwa, Chairman of Shri Keshav Cement & Infra Limited said, “Despite facing cost pressure, the Company has successfully maintained an EBITDA margin of approximately 30%, which is commendable. However, like the rest of the cement industry, we are also concerned about the rising prices of coal and pet coke. Nonetheless, our strategic initiatives, including the establishment of a captive solar power plant, have enabled us to report a profit for the current year.

In addition to our efforts in the cement sector, we have capitalized on the opportunities in the Solar segment. As a result, there has been a rise in the deferred tax for Q4FY23, which has exerted pressure on our bottom line. It’s important to note that this adjustment is a one-time occurrence.

Looking ahead, we maintain a highly positive outlook for the future growth of our cement business. Our recent investments in the Company will facilitate the modernization of our cement plant. Combining the capabilities of our new cement plant and our captive solar power plant, we anticipate generating one of the best EBITDA per ton figures in the industry. These investments will significantly enhance our operational efficiency and profitability, positioning us for continued success.”

About Shri Keshav Cement & Infra Limited:

Incorporated in the year 1993 Shri Keshav Cement & Infra Limited (KCIL), formerly Katwa Udyog Limited) is engaged in the manufacturing of Cement and Solar Power Generation and Distribution in the state of Karnataka India. 

The Business segments are divided into two verticals 1) Manufacturing of cement 2) Generation of Electricity using Solar Power. The cement plants are located at Bagalkot district, Karnataka and the Solar power plant is located at Koppal, Karnataka.

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.

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