Shri Keshav Cement & Infra 9m FY23 net profit up 348%

Read Time:2 Minute, 59 Second

Mumbai (Maharashtra) [India], February 7: 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 & 9M FY23.

Key Financials at a Glance:

For 3M FY23:

Revenues at₹81 crore; up 20.53%
EBITDA at₹40 crore; up 9.36%
EBITDA Margin at 29.88%
PAT at ₹39 crore, PAT Margin at 3.99%
EPS at ₹16

For 9M FY23:

Revenue at ₹94 crore; up 17.23%
Revenues from manufacturing and trading in cement was at ₹95 crore as against ₹63.69 crore
Revenues from solar power generation and supply were at ₹98 crore as against ₹7.86 crore
EBITDA at ₹72 crore; up 9.08%
EBITDA Margin was at 30.90%
PAT for at ₹29 crore; up 348%, PAT Margin was at 31.21%
EPS at ₹18

Commenting on the performance, Mr. Venkatesh Katwa, Chairman of Shri Keshav Cement & Infra Limited said, “Good demand for cement and price hike were taken during the quarter enabled us to report 20% plus growth in revenues. Our capacity expansion on existing land by balancing processes and modernising equipment will help us report better revenues and improvement in profit in the coming period. Revenue from solar capacity almost doubled during nine months of the current financial year.”

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 and 2) Generation of Electricity using Solar Power. The cement plants are located in Bagalkot district, Karnataka, and the Solar power plant is located at Koppal, Karnataka.

The Company manufactures 43-grade and 53-grade Ordinary Portland Cement. The inception of the company began with the acquisition of a sick cement plant of 20 TPD (Tons per day) in 1994. The capacity of the plant gradually increased year after year to reach 600 TPD. The further acquisition has added 300 TPD to the existing capacity. The current capacity of the company is 1,100 TPD with two cement manufacturing plants – one operating with a vertical shaft kiln (VSK) having a capacity of 300TPD in Kaladgi, Bagalkot, and another unit having a capacity of 800 TPD operating with rotary kiln technology located at Nagnapur, Bagalkot.

The company owns three very renowned regional brands of cement “Jyoti Power” “Jyoti Gold” & “Keshav Cement”. The company supplies cement in North Karnataka, Coastal Karnataka, Goa, and some parts of Maharashtra and Kerala. “Keshav Cement” is a premium brand of the company. SKCIL is producing cement by using 100% green energy (Solar) since April 2018.

The cement industry is highly energy-intensive and power cost constitutes around 30% of the manufacturing cost in the cement manufacturing process. The current power requirement of the cement plants is 12 MW. The Company has two power plants that cumulatively generate 37 MW of power. After using it for its business operations, the balance of 25 MW is sold by the Company.

The other group companies are, Katwa Infotech Ltd and Katwa Construction Ltd. The shares of SKCIL are listed on BSE (530977).

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