Shree Cement’s Q2FY22 performance beats estimates

News: Shree Cement’s revenue for Q2FY22 increased 5% YoY to Rs.3205.9 crore while EBITDA was down 10.8% YoY to Rs.898.2 crore. PAT was up 5.6% YoY to Rs.577.7 crore on higher other income and lower taxes.

Views: While performance remained under pressure due to higher fuel costs (up 34.1% YoY, 4.7% QoQ), a check on freight costs (up 3.3% YoY, down 7.7% QoQ) and better than expected realisations led to better than expected operating performance during the quarter.