CARE reaffirms A1+ rating on commercial papers of Shree Cement

CARE Ratings Limited has reaffirmed the rating of Shree Cement Limited.  The credit rating agency has reaffirmed the company's rating on Commercial Paper Rs400cr at CARE Al+.

The company last week reported Rs3,635cr in consolidated operational revenues, which was 46% more than Rs2,487cr in the corresponding quarter of 2020-21 and 14% less than the Rs4,235cr of Q4FY21.

The company’s consolidated Profit After Tax (PAT) stood at Rs631cr in Q1FY22 compared to Rs330.36cr in Q1FY21, an increase of 91% yoy. However, it declined 21% yoy from Rs800cr in Q4FY21. Earnings Per Share (EPS) (of Rs10 each) at Rs174.58 in Q1FY22 compared to Rs91.35 in Q1FY21.