PNN

Mumbai (Maharashtra) [India], November 16: 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 Q2 FY24.

Key Financials at a Glance:

Q2 FY24:

* Total Income Rs 25.76 crore

* EBITDA of Rs 7.95 crore

* EBITDA margin at 30.84 %

* Net Profit of Rs 0.07 crore

* Net profit margin at 0.28 %

* EPS Rs 0.05

H1 FY24:

* Total Income Rs 57.50 crore

* EBITDA of Rs 18.22 crore

* EBITDA margin at 31.68 %

* Net Profit of Rs 2.75 crore

* Net profit margin at 4.78 %

* EPS Rs 1.84

Key Highlights for the H1 FY24:

* Company has Applied to increase its Solar Capacity from 37 MWp to 40 MWp.

* Debt-to-Equity ratio has improved to 2.3 in H1 FY24 from 3.7 in FY 2022-23.

Commenting on the performance, Venkatesh Katwa, Chairman of Shri Keshav Cement & Infra Limited said, "Traditionally, the second quarter of each financial year tends to be sluggish due to the impact of the monsoon season. Moreover, this year, the Karnataka elections further affected our performance in both Q1 and Q2. Additionally, our margins faced pressure due to elevated raw material costs. However, I am pleased to note that conditions have stabilized, and we are optimistic about the remainder of FY24."

In our commitment to sustainability, we are planning to augment our Solar Power plant capacity from the current 37 MW to 40 MW. This initiative aims to reinforce our position as one of the only cement plants in India utilizing 100% green power for cement production."

I am pleased to report that our cement plant's modernization process, geared towards increasing our capacity from 0.35 MTPA to 1 MTPA, is progressing as scheduled. We anticipate timely completion of the project, which will significantly enhance our operational capabilities."

As we look ahead, our optimism is fueled by the ongoing modernization of our cement plant, heightened awareness of our brand, and the exceptional capabilities of our dedicated team."

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