Shree Cement ended Q3FY21 on a high note with a whopping 102% (YoY) surge in standalone net profit at Rs.626 crore on a 16% rise in revenue from operations at Rs.3309 crore. A 65% increase in other income also helped.

This strong performance was on the back of volume growth supported by a revival in demand. Volumes showed a 15% increase at 7.2 million tons and realization went up by almost 1.5% to Rs.4620/ton.

Thanks to the lower outgo on depreciation, finance costs and employee cost, its EBITDA rose 28% to 1089 crore and margins showed a smart 309 bps jump to 32.9%.  Its cost per ton fell over 3% to Rs.3099/ton.

Its net profit for 9MFY21 is at Rs.1544 crore, and with one more quarter to go, clearly it will more than surpass FY20 net profit of Rs.1570 crore.

The stock opened at Rs.23,170, up 2% but at that level, profit booking pushed it down to Rs.22,732.45 and it is now just about in the green at Rs.22,774.