Star Cement Ltd Share Price – NSE  /  BSE

Cement, Small Cap

The credit rating agency has reaffirmed its 'CRISIL AA/Stable’ rating on the long-term bank facilities of the company.

CRISIL said that the rating continues to reflect CRISIL Ratings’ belief that the company’s market leadership in north-east India will strengthen further in the near term with commissioning of 3 MTPA clinker and 2 MTPA grinding unit by end of current fiscal.

This will enable additional sales volumes along with sustained healthy operating profitability and robust financial risk profile thereby improving its overall credit profile. The successful commissioning of these facilities and their timely stabilization & ramp-up would be a key monitorable.

The ratings factors strong brand recall of the company in the north-east region along with the robust profitability.

These strengths are partially offset by susceptibility to volatility in input prices, the commoditised nature of the product and exposure to risks associated with the sizeable, ongoing capital expenditure (capex).

Star Cement has a combined cement manufacturing capacity of 5.70 MTPA, clinker manufacturing capacity of 2.80 MTPA, 12.3 MW waste heat recovery system (WHRS) and a captive power plant with capacity of 51 MW as of December 31, 2023.

For the nine months ended 31 December 2023, SCL reported profit after tax (PAT) of Rs 207.4 crore and operating income of Rs 1,997.1 crore, against Rs 151.5 crore and Rs 1875.7 crore, respectively, for the corresponding period of the previous fiscal.

The scrip rose 0.96% to currently trade at Rs 210 on the BSE.

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Piramal Enterprises Ltd, Divis Laboratories Ltd, JBM Auto Ltd, Shyam Metalics & Energy Ltd are among the other stocks to see a surge in volumes on BSE today, 12 February 2024.

Star Cement Ltd witnessed volume of 3.8 lakh shares by 10:47 IST on BSE, a 7.16 times surge over two-week average daily volume of 53132 shares. The stock increased 7.08% to Rs.209.45. Volumes stood at 67286 shares in the last session.

Piramal Enterprises Ltd recorded volume of 2.53 lakh shares by 10:47 IST on BSE, a 4.04 times surge over two-week average daily volume of 62515 shares. The stock lost 1.94% to Rs.874.65. Volumes stood at 66642 shares in the last session.

Divis Laboratories Ltd saw volume of 20307 shares by 10:47 IST on BSE, a 3.05 fold spurt over two-week average daily volume of 6662 shares. The stock increased 2.81% to Rs.3,753.70. Volumes stood at 5174 shares in the last session.

JBM Auto Ltd saw volume of 41567 shares by 10:47 IST on BSE, a 2.85 fold spurt over two-week average daily volume of 14589 shares. The stock increased 5.44% to Rs.2,124.05. Volumes stood at 12835 shares in the last session.

Shyam Metalics & Energy Ltd registered volume of 1.68 lakh shares by 10:47 IST on BSE, a 2.62 fold spurt over two-week average daily volume of 64264 shares. The stock slipped 1.00% to Rs.675.20. Volumes stood at 43402 shares in the last session.

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Revenue from operations rose 5.54% year on year (YoY) to Rs 651.40 crore in the quarter ended 31 December 2023.

Profit before tax stood at Rs 113.41 crore during the third quarter, registering a growth of 37.02% from 82.77 crore posted in the same quarter last year.

Cost of materials consumed increased 8% YoY to Rs 155.77 crore while employee benefit expenses jumped 20.56% YoY to Rs 54.53 crore in the quarter under review.

On nine-month basis, the company's consolidated net profit climbed 36.93% to Rs 207.44 crore on 6.47% rise in net sales to Rs 1,997.13 crore in 9M FY24 over 9M FY23.

Star Cement is the leading cement company in North-Eastern India and one of the fastest growing cement brand in West Bengal & Bihar. The company has its 1.67 million tonnes per annum (MTPA) integrated cement plant in a strategic location in the idyllic town of Lumshnong in Meghalaya.

The scrip hit a life-time high of Rs 198.15 in today’s intraday session.

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Net profit of Star Cement rose 39.06% to Rs 73.52 crore in the quarter ended December 2023 as against Rs 52.87 crore during the previous quarter ended December 2022. Sales rose 5.54% to Rs 651.40 crore in the quarter ended December 2023 as against Rs 617.20 crore during the previous quarter ended December 2022.

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