Share prices of this small-cap stock hit a new all-time high in the trading session on Friday after the company announced its financial results for Q3 FY23-24, which is, for the quarter ended December 2023.
With a market cap of Rs. 1,667.31 crore, shares of Shree Digvijay Cement Co. Ltd. hit a new 52-week high at Rs. 123.9 on January 19 and closed at Rs. 113.8 compared to its previous close of Rs. 113.
This rise in the share prices was observed after the company released its financial results (standalone and consolidated) for the third quarter and nine months ended 31st December 2023, through a recent filing with the stock exchanges.
The consolidated revenue from operations increased to Rs. 191.3 crore in the December 2023 quarter from Rs. 183.49 crore in the September 2023 quarter, of which, the revenue from operations of the cement business for the December 2023 quarter was Rs. 191.18 crore, the same for the logistics business was Rs. 0.11 crore.
Furthermore, the after-tax profit grew by around 76.4 percent in the December 2023 quarter to Rs. 31.40 crore from Rs. 73.97 crore in the September 2023 quarter.
The company reported a profit of Rs. 56.04 crore and a revenue of Rs. 573.81 crore for the nine months ended December 2023 quarter. As of the December 2023 quarter, the total expenses were Rs. 151.36 crore compared with Rs. 175.26 crore in the September 2023 quarter.
The company has given over 46.5 percent returns in the past six months and nearly 53.47 percent in the last one year. So far, it has given returns of more than 16.1 percent in 2024.
For the nine months ended December 2023, Shree Digvijay Cement Co. Ltd. has allotted 1,567,500 equity shares of Rs. 10 each to the option grantees. Pursuant to this allotment, the paid-up equity share capital of the Company has increased from 145,202,778 equity shares to 146,770,278 equity shares of Rs. 10/- each.
As of December 2023, FIIs hold 2.91 percent of the shares, whereas DIIs hold 0.70 percent of the shares in the company, aggregating to 3.61 percent of the institutional holdings.
Shree Digvijay Cement Company Ltd is one of India’s pioneers in manufacturing cement which started its operation in 1944. It is primarily engaged in the business of manufacturing and sale of cement, and focuses on generating and consuming more than 65 percent of its power requirements through green energy.
Written by Shivani Singh
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