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Star Cement Ltd. reported robust volume/revenue growth of 46%/44% (above expectation) YoY in Q2 FY23, driven by higher demand in its operating region.
Star Cement reported Ebitda margins of 11.7% against the expectation of 15% and was impacted by higher raw material cost and other expenses during the quarter.
It reported realisation growth of 1% YoY as its operating region of North-East and East India witnessed higher prices during the quarter.
Adjusted profit after tax was down 33% owing to the end of the tax holiday available to the grinding units in Guwahati and units under its subsidiary Star Cement Meghalaya Ltd. and also owing to higher costs.
The cost/tonne was higher by 8%/6%YoYand QoQ and stood at Rs 5,887/tonne.
The volume for the quarter stood at 0.89 million tonnes per annum against 0.62 mntpa reported in the last year.
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