{"id":158672,"date":"2024-02-12T10:11:33","date_gmt":"2024-02-12T15:11:33","guid":{"rendered":"https:\/\/44.250.171.167\/?p=158672"},"modified":"2024-02-12T10:11:35","modified_gmt":"2024-02-12T15:11:35","slug":"star-cement-ltd-q3-fy24-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/star-cement-ltd-q3-fy24-earnings-conference-call-insights\/","title":{"rendered":"Star Cement Ltd Q3 FY24 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from Star Cement Ltd (STARCEMENT) Q3 FY24 Earnings Concall<\/strong><\/p>\n<ul>\n<li><strong>Cement Production and Sales Performance<\/strong>\n<ul>\n<li>Clinker production 7.37 lakh tons in Q324 vs 7.39 lakh tons in Q323.<\/li>\n<li>Cement production 9.82 lakh tons in Q324 vs 9.22 lakh tons in Q323.<\/li>\n<li>Cement production increased by 7% year-on-year.<\/li>\n<li>Sold 9.6 lakh tons of cement and 0.3 lakh tons of clinker in Q324.<\/li>\n<li>Cement sales increased 7% to 9.6 lakh tons vs 9.08 lakh tons in Q323.<\/li>\n<li>Northeast cement sales were 7.32 lakh tons vs 6.62 lakh tons in Q323.<\/li>\n<li>Outside northeast cement sales were 2.38 lakh tons vs 2.45 lakh tons.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Financial Performance<\/strong>\n<ul>\n<li>Total revenue was INR 655 crore in Q324 vs INR 629 crore in Q323.<\/li>\n<li>EBITDA was INR 153 crore in Q324 vs INR 120 crore in Q323.<\/li>\n<li>Net profit was INR 74 crore vs INR 53 crore in Q323.<\/li>\n<li>EBITDA per ton was INR 1,576 in Q324 vs INR 1,324 in Q323.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Capacity Expansion<\/strong>\n<ul>\n<li>Guwahati grinding unit commissioning in March 2023.<\/li>\n<li>SGST incentives of INR 150-160 cr annually from Guwahati grinding unit.<\/li>\n<li>Tax benefit with 17% rate at new Guwahati plant.<\/li>\n<li>Lumshnong clinker unit commissioning in March 2023.<\/li>\n<li>Lower clinker heat rate and power cost at new Lumshnong unit.<\/li>\n<li>Silchar grinding unit commissioning in Aug-Sep 2023.<\/li>\n<li>Minor delays vs original timelines due to equipment delivery.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Capex Update<\/strong>\n<ul>\n<li>Guwahati: INR 330 cr spent till Dec&#8217;22, INR 55 cr in Q423 vs INR 430 cr budget.<\/li>\n<li>Lumshnong: INR 850 cr spent till Dec&#8217;22, INR 200 cr in Q423 and Q124 vs INR 1300 cr budget.<\/li>\n<li>Silchar: INR 20 cr spent on land purchase so far vs revised INR 450 cr budget.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Volume Growth Outlook<\/strong>\n<ul>\n<li>9M volume growth at 9% vs 13-14% full year target.<\/li>\n<li>Q4 volume growth expected at 5-7% for industry, 8-10% for company.<\/li>\n<li>Next year targeting 18-20% volume growth with Guwahati capacity.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Pricing Trends<\/strong>\n<ul>\n<li>Northeast prices increased INR 7 in Q3 vs Q2.<\/li>\n<li>Outside northeast prices dropped INR 15-20 in Bihar and Bengal.<\/li>\n<li>Premium cement share at 6.5% vs 4.5% in Q3FY23.<\/li>\n<li>Premium cement growth at 47% in Q3.<\/li>\n<li>Some pressure likely in Q4 with INR 5 decline expected.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Managing Clinker Requirement<\/strong>\n<ul>\n<li>Have 1.8 lakh ton clinker inventory currently.<\/li>\n<li>Producing at full capacity to build stock.<\/li>\n<li>New grinding unit will ramp up gradually from March.<\/li>\n<li>New clinker unit starts in April.<\/li>\n<li>Inventory and production to meet requirement during transition.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Expansion Plans<\/strong>\n<ul>\n<li>Targeting 20 million tonne capacity in next 7-8 years.<\/li>\n<li>Evaluating greenfield mines in south and north India.<\/li>\n<li>Likely organic expansion by setting up plants at new mines.<\/li>\n<li>Small acquisitions not feasible currently in the market.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Siliguri Plant Utilization<\/strong>\n<ul>\n<li>Capacity utilization was 47-48% in Q3.<\/li>\n<li>Expected to improve to 52% in Q4.<\/li>\n<li>Constrained by clinker availability currently.<\/li>\n<li>Will improve with new clinker unit commissioned.<\/li>\n<li>Targeting above 60% utilization post clinker expansion<\/li>\n<\/ul>\n<\/li>\n<li><strong>AAC Blocks Update<\/strong>\n<ul>\n<li>Land work completed for Guwahati AAC blocks plant.<\/li>\n<li>Machinery orders placed, project on track.<\/li>\n<li>Expected to commission by Aug 2024.<\/li>\n<li>25% margins and 20% RoCE targeted.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Assam Opportunity<\/strong>\n<ul>\n<li>Total Northeast cement market size is 13 million metric tonnes, with Assam accounting for over 7.5 million tonnes.<\/li>\n<li>Star Cement currently sells 1.8 million tonnes in Assam, targeting over 2.6 million tonnes by FY2026.<\/li>\n<li>With 30-35% market share, there is room to grow without high risks of oversupply.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Star Cement Ltd (STARCEMENT) Q3 FY24 Earnings Concall Cement Production and Sales Performance Clinker production 7.37 lakh tons in Q324 vs 7.39 lakh tons in Q323. Cement production 9.82 lakh tons in Q324 vs 9.22 lakh tons in Q323. Cement production increased by 7% year-on-year. Sold 9.6 lakh tons of cement and [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":154818,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,5753],"tags":[9714,10464,10169],"class_list":["post-158672","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-industrials","tag-cement-producer","tag-construction-materials","tag-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":172144,"url":"https:\/\/alphastreet.com\/india\/star-cement-q2-fy26-earnings-results\/","url_meta":{"origin":158672,"position":0},"title":"Star Cement Q2 FY26 Earnings Results","author":"Chirag Gupta","date":"November 5, 2025","format":false,"excerpt":"Star Cements Ltd is engaged in manufacturing and selling of Cement Clinker & Cement. 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