This Smallcap Cement Company Reports Strong Quarterly Results and Offer 5 percent Dividend Yield at Rs.72

Smallcap Cement Company Shree Digvijay Cement Co. Ltd has announced its financial results for the fourth quarter of the fiscal year 2023, ending on March 31, 2023. The company has reported an impressive 15% increase in revenue, 34% increase in EBITDA, and 89% increase in PAT as compared to the same quarter in the previous year.

During the year ended March 31, 2023, the company achieved a milestone by producing and selling over 12.5 lakh tonnes of cement, which is the highest ever. Additionally, the company received Environment Clearance (EC) from the Ministry of Environment, Forest, and Climate Change for capacity expansion up to 3.00 MTPA. The dividend also increased to 40% Rs. 4.0 per equity share compared to the previous year’s Rs. 3.5 per equity share.

Despite the high cost of coal that has affected the margins of the cement industry, Shree Digvijay Cement Co. Ltd performed well by improving plant performance and keeping costs under control. The coal prices are now softening, which is expected to reduce the cost of production. The board of directors have recommended a higher final dividend of Rs. 2.5 per share, reflecting the company’s success.

Shree Digvijay Cement’s Executive Chairman, Anil Singhvi, expressed his satisfaction with the company’s performance and the Environment Clearance (EC) for expansion to 3 million tonnes of cement. With sufficient limestone deposits, the company is well-positioned to embark on growth.

It is impressive to see Shree Digvijay Cement achieving such high growth in a challenging market, and the company’s focus on improving plant performance and controlling costs is paying off. The expansion plans and the increased dividend payout indicate a positive outlook for the company’s future growth prospects.

Source : Press Release ;- Shree Digvijay Cements Co.Ltd