Shree Cement opened slightly in the green at Rs.27155 and even rose further to Rs.27443.80 but from there it has been going only down and is now trading at Rs.26399.
The company posted a very good set of earnings for Q1FY22 but the stock price has moved according to the overall trend.
Its consolidated net profit for the quarter came in at Rs.631 crore, up 91% (YoY), on a net revenue of Rs.3635 crore, up 46%. Its total expenses rose 35% of which raw material cost rose 45% and fuel costs rose 54%. Freight & forwarding expense was up 44%.
Cement volumes grew 41% YoY to 6.8 m tonnes (MT), while clinker sales, down 62% YoY, pulled down overall volume growth to 39% YoY to 6.8 MT.