Shree Cements Ltd. — Interim / Quarterly Report 2022

Aug 9, 2021

CIN No. : L26943RJ1979PLC001935 Phone : 01462228101-6 Toll Free : .18001806003/6004 Fax: 01462228117/228119 . E-Mail: shreebwr@shreecement.com Website : www.shreecement.com

SHREE CEMENT LTD.

An ISO 9001, 14001,50001 & OHS 18001 Certified Company Regd. Office: BANGUR NAGAR, POST BOX NO.33, BEAWAR 305901, RAJASTHAN, INDIA

SCL/BWR/SE/2021-22/ 9th August, 2021

FAX NO. 022 - 26598237 / 26598238 Email: cmli st@nse.co.i h Listing Department National Stock Exchange of India Limited, Exchange Plaza, C-1, Block G, Bandra - Kurla Complex, Bandra (East) MUMBAI-400 051 SCRIP CODE: SHREECEM EQ

FAX NO. 022-22722041/ 22722061

Email: corp.relations@bseindia .com Corporate Relationship Department Bombay Stock Exchange Ltd. Phiroze Jeejeebhoy Towers, 25th Floor, Dalal Street, MUMBAI-400 001 SCRI P CODE 500387

Sub: Approval of Un-audited Financial Results for Quarter ended 30th June, 2021

Dear Sirs,

Board of Directors of the Company has today approved the Un-audited Financial Results (Standalone and Consolidated) of the Company for Quarter ended on 30th June, 2021. Financial Results approved by the Board alongwith the Limited Review Reports of Statutory Auditors of the Company over the said financial results are enclosed herewith.

The meeting of the Board started at 3.50 P.M. and concluded at Lf .3'>P.M.

Kindly take the same on record.

Yours ForS

Encl: as above

GUPTA & DUA CHARTERED ACCOUNTANTS

4594A/9, Daryaganj, New Delhi-I 10002 Phone-O 11-43525949,45694763 E-mail: mukeshdua@guptaanddua.com Website: - www.guptaanddua.com

INDEPENDENT AUDITORS' LIMITED REVIEW REPORT

TO BOARD OF DIRECTORS OF SHREE CEMENT LIMITED

• I . We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of SHREE CEMENT LIMITED ("the Company") for the quarter ended on June 30, 2021 ("the Statement") being submitted by the Company pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the Listing Regulations").
• 1. This Statement, which is the responsibility of the Company's management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review in accordance with the Standard on Review Engagements (SRE) 2410, 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued-by-the Institute of Chaltered Accountants ofIndia. This standard-re-quires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and an analytical procedure applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion
• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with applicable accounting standards and other recognized accounting practices and policies, has not disclosed the information required to be disclosed in terms of the Listing Regulations including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. We draw attention to Note-3 of the Statement, which states the impact of COVID-19 pandemic on the operations of the Company. Our conclusion is not modified in respect of this matter.

For Gupta & Dua Chartered Accountants Firms' Registration No.003849N

e Signed by: MUKESH DUA ~~~ Reason: LRReport 1..7· Location: Beawar, India Date: 09-Aug-2021 (04:28 PM)

Mukesh Dua Partner Membership No.085323

UDIN: 21085323AAAACD9731 Beawar, August 9, 2021

SHREE CEMENT LIMITED

Regd. Office : Bangur Nagar, Beawar-305901 , Distt. Ajmer (Rajasthan)

Phone: EPABX 01462 2281 01-6, Fax: 01462 228117/119 e-mail: shreebwr@shreecement.com Website: www.shreecement.com CIN: L26943RJ1979PLCOO1935

5T A TEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS

FOR THE QUARTER ENDED ON 30TH JUNE, 2021

					Rs . in Crores
		30.06.2021	Quarter ended31.03.2021	30.06.2020	Year ended31.03.2021
S.N.	PARTICULARS	(Unaudited)	(Audited)	(Unaudited)	(Audited)
I	Revenue from Operations
	(a) Gross Revenue from Operations	4401 .02	4967.21	3003.55	16128.37
	(b) Less: GST recovered	951.53	1009.25	67 1.16	3459.50
	(c) Net Revenue from Operations (a-b)	3449.49	3957.96	2332.39	12668.87
II	Other Income	139.17	11 9.05	124.51	432.89
III	Total Income (1+11)	3588.66	4077.01	2456.90	13101.76
IV	Expenses
	(a) Cost of Materials Consumed	23175	258.89	145.50	833.59
	(b) Purchases of Stock in Trade	43.16
	(c) Changes in Inventories of Finished Goods and Work-in-Progress	(83.62)	69.13	15.69	4205
	(d) Employee Benefits Expenses	211.46	244.24	17306	759.72
	(e) Finance Costs	53.52	55.28	70.56	247.10
	(f) Depreciation and Amortization Expenses	232.50	299.29	271 .35	1139.90
	(g) Power and Fuel	652.42	636.01	389.52	2082.42
	(h) Freight and Forwarding Expenses	832.20	952.68	560.24	3037.24
	(i) Other Expenses	548.61	614.55	347.85	1934.02
	Total Expenses	2722.00	3130.07	1973.77	10076.04
V	Profit Before Tax (III - IV )	866.66	946.94	483.13	3025.72
VI	Tax Expense
	(a) Current Tax	203.84	214.99	125.87	763.82
	(b) Deferred Tax	1.10	(35.70)	(1 3.54)	(39.76)
	(c) Tax Expense relating to earlier years (Net)				(10.27)
	Total (a to c)	204.94	179.29	112.33	713.79
VII	Profit for the Period (V-VI)	661.72	767.65	370.80	2311.93
VIII	Other Comprehensive Income
	ali) Items that will not be Reclassified to Profit or Loss	2.46	11 .14	-	11 .14
	alii) Income Tax relating to items that will not be Reclassified to Profit or Loss	(0.83)	(3.74)	-	(3.74)
	b(i) Items that will be Reclassified to Profit or Loss	5.20	(5.00)	(26.79)	(1964)
	b(ii) Income Tax relating to items that will be Reclassified to Profit or Loss	(1.75)	1.68	9.36	6.03
	Other Comprehensive Income/(Loss) for the Period	5.08	4.08	(17.43)	(6.21)
IX	Total Comprehensive Income for the Period (VII+VIII)	666.80	771.73	353.37	2305.72
X	Paid-up Equity Share Capital (Face value Rs. 10 per share)	36.08	36.08	36.08	36.08
XI	Other Equity				15213.99
XII	Earnings Per Share (EPS) (of Rs. 10 each) - Not Annualized
	Cash (in Rs.)	248.14	285.82	174.22	945.68
	Basic and Diluted (in Rs .)	183.40	212.76	102.77	640.77

Notes:
		The above results were taken on record at the meeting of the Board of Directors held on 9th August, 2021 . The results have been reviewedby the Statutory Auditors.
		2 The Company is primarily engaged in the manufacture and sale of cement and cement related products. There are no separate reportablesegments as per Ind AS 108, "Operating Segments".
		3 The Company has considered the possible effects that may result from COVID-1 9 in the preparation of these financial results. TheCompany believes that pandemic is unlikely to impact on the recoverability of the carrying value of its assets as at 30th June, 2021. Lookingto the present situation of pandemic, the extent to which the same wi ll impact Company' s future financial results is currently uncertain andwill depend on further developments. The Company is taking all necessary measures to secure the health and safety of its employees,workers and their families.
	4	Previous period figures have been reg rouped wherever necessary.
		By order of the Board
		For SHREE CEMENT LIMITED
		/~Place: Dubai,J
		Date: 9th August, 2021B.G. Bangur
		Chairman
		DIN: 00244196

For details e-mail at : iaioos@lshreecement.com Visit us on www.shreecement.com

GUPTA & DUA CHARTERED ACCOUNTANTS

4594A/9, Daryaganj, New Delhi-ll0002 Phone-Oll-43525949,45694763 E-Mail: -mukeshdua@guptaanddua.com Website: - www.guptaanddua.com

INDEPENDENT AUDITORS' LIMITED REVIEW REPORT

To Board of Directors of Shree Cement Limited

• I . We have reviewed the accompanying Statement of unaudited consolidated financial results of Shree Cement Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), for the quarter ended on June 30, 2021 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the Securitie-s-and Exchange Board ofIndia (Listing Obligations and- - Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations").
• 1. This Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33 (8) of the Listing Regulations, to the extent applicable.

INDEPENDENT AUDITORS' LIMITED REVIEW REPORT (continued)

1. The Statement includes the results of the following entities:

	Shree Cement Limited (Parent)
f----	Subsidiaries
1I---	Shree Global FZE
2	-Shree International Holding Ltd.
3	Shree Enteryrises Management Ltd.
4	Uniot1_Gement Company (P}SG)
-5	Union Cement Norcem Company Limited L.L.c.
6	Raipur Handling and Infrastructure Private Limite-.9
7	Shree Cement North Private Limited
--8	Shree Cement East Private Limited
9	----Shree Cement South Private Limited-~--

• 1. Based on our review conducted and procedures perfo!:!J1~d as stated in paragraph 3 above and based on the consideration of the review reports of other auditors and management referred to in paragraph 6 and 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. We did not review the financial results of five subsidiaries included in the Statement, whose financial results reflect revenue from operations of Rs. 185.52 crore, total net profit /(loss) after tax of Rs. (37.49) crore and total comprehensive income /(loss) of Rs. (6.03) crore for the quarter ended June 30, 2021, respectively, as considered in the statement. These financial results have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.

These subsidiaries are located outside India whose financial results have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been reviewed by other auditors under generally accepted auditing standards applicable in their respective countries. The Company's Management has converted the financial results of such subsidiaries located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have reviewed these conversion adjustments made by the Parent Company's Management. Our opinion in so far as it relates to the financial results of such subsidiaries located outside India is based on the report of other auditors and the conversion adjustments prepared by the Management of the Parent Company and reviewed by us.

INDEPENDENT AUDITORS' LIMITED REVIEW REPORT (continued)

1. We did not review the financial results of four subsidiaries included in the Statement, whose financial results reflect revenue from operations of Rs. 9.60 crore, total net profit /(Ioss) after tax of Rs. 7.60 crore and total comprehensive income /(Ioss) of Rs. 7.60 crore for the quarter ended June 30, 2021, respectively, as considered in the Statement. These financial results have not been reviewed by their auditors and have been furnished to us by the management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on these financial results and the procedures performed by us as stated in paragraph 3 above. According to the information and explanations given to us by the Management, these financial results are not material to the Group.

Our conclusion on the Statement is not modified in respect of the above matters.

1. We draw attention teNote-3 of the Statement, which states the impact of f':Q¥ID-I 9 pandemic on the operations of the Company. Our conclusion is not modified in respect of this matter

For Gupta & Dua Chartered Accountants Firms' Registration No.: 003849N

e Signed by: MUKESH DUA ~~ it:utt Reason: Conso LR Report ';;>1..7·~ Location: 8eawar, India Date: 09-Aug·2021 (04:31 PM)

Mukesh Dua Partner Membership No.: 085323 UDIN: 21085323AAAACE8203 Beawar, August 9, 202 I

SHREE CEMENT LIMITED

Regd. Office: Bangur Nagar, Beawar-305901, Distt. Ajmer (Rajasthan) Phone: EPABX 01462 228101-6, Fax: 01462 228117/119 e-mail: shreebwr@shreecement.comWebsite:www.shreecement.com

CIN: L26943RJ1979PLC001935

STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS

FOR THE QUARTER ENDED ON 30TH JUNE, 2021

					Rs. in Crares
S.N.	PARTICULARS	30.06.2021(Unaudited)	Quarter ended31.03.2021(Audited)	30.06.2020(Unaudited)	Year ended31.03.2021(Audited)
	Revenue from Operations
	(a) Gross Revenue from Operations	4589.73	5249 .1 3	3160.60	17034.22
	(b) Less: GSTNAT recovered	954.90	1014.14	673.86	3474.45
	(c) Net Revenue from Operations (a-b)	3634.83	4234.99	2486.74	13559.77
II	Other Income	141 .11	120.23	126.51	438.26
III	Total Income (1+11)	3775.94	4355.22	2613.25	13998.03
IV	Expenses
	(a) Cost of Materials Consumed	257.62	298.69	178.33	976.37
	(b) Purchases of Stock in Trade	47.00	17.74	4.05	43.66
	(c) Changes in Inventories of Finished Goods and WOrk-in-Progress	(77.16)	69.27	(16.18)	49.60
	(d) Employee Benefits Expenses	239.56	271 .57	205.49	869.22
	(e) Finance Costs	54.49	56.28	71 .59	251 .29
	(I) Depreciation and Amortization Expenses	273.52	330.21	300.15	1262.34
	(g) Power and Fuel	712.76	720.08	464.50	2397.90
	(h) Freight and Forwarding Expenses	838.17	969.05	581 .12	3110.19
	(i) Other Expenses	593.92	642.55	381 .55	2033.38
	Total Expenses	2939.88	3375.44	2170.60	10993.95
V	Profit Before Tax (III - IV )	836.06	979.78	442.65	3004.08
VI	Tax Expense
	(a) Current Tax	205.23	215.71	125.87	765.27
	(b) Deferred Tax	(0.06)	(35 .72)	(13.57)	(40.51)
	(c) Tax Expense relating to earlier years (Net)		-		(10.27)
	Total (a to c)	205.17	179.99	112.30	714.49
VII	Profitfor the Period (V-VI)	630.89	799.79	330.35	2289.59
	Profit/(Loss) attributable to :
	Owners of the Company	629.90	798.43	329.60	2285.87
	Non-ContrOlling Interest	0.99	1.36	0.75	3.72
VIII	Other Comprehensive Income
	a(i) Items that will not be Reclassified to Profit or Loss	2.46	13.01	-	13.01
	a(ii) Income Tax relating to items that will not be Reclassified to Profit or Loss	(0.83)	(3.74)		(3.74)
	b(i) Items that will be Reclassified to Profit or Loss	36.67	12.12	(21 .38)	(87.02)
	b(ii) Income Tax relating to items that will be Reclassified to Profit or Loss	(175)	1.68	9.36	6.03
	Other Comprehensive Income/(Loss) for the Period	36.55	23.07	(12.02)	(71.72)
	Other Comprehensive Income/(Loss) attributable to :
	Owners of the Company	35.96	22.73	(12.17)	(70.30)
	Non-Controlling Interest	0.59	0.34	0.15	(1 .42)
IX	Total Comprehensive Income for the Period (VII+VIII)	667.44	822.86	318.33	2217.87
	Total Comprehensive Income/(Loss) attributable to :
	Owners of the Company	665.86	821 .16	317.43	2215 .57
	Non-ContrOlling Interest	1.58	1.70	0.90	2.30
X	Paid-up Equity Share Capital (Face value Rs. 10 per share)	36.08	36.08	36.08	36.08
XI	Other Equity				15361 .33
XII	Earnings Per Share (EPS) (of Rs. 10 each) - Not Annualized
	Cash (in Rs.)	250.1 8	302.75	170.60	971 .52
	Basic and Diluted (in Rs.)	174.58	221 .29	91.35	633.54

Notes:
	The above results were taken on record at the meeting of the Board of Directors held on 9th August, 2021 . The results have been reviewed by theStatutory Auditors.
	2 The Company is primarily engaged in the manufacture and sale of cement and cement related products. There are no separate reportablesegments as per Ind AS 108, "Operating Segments".
	3 The Company has considered the possible effects that may result from COVID-19 in the preparation of these financial results. The Companybelieves that pandemic is unlikely to impact on the recoverability of the carrying value of its assets as at 30th June, 2021 . Looking to the presentsituation of pandemic, the extent to which the same will impact Company's future financial results is currently uncertain and will depend on furthedevelopments. The Company is taking all necessary measures to secure the health and safety of its employees, workers and their families .
	4 Previous period figures have been regrouped wherever necessary.
	By order of the Board
	For SHREE CEMENT LIMITED
	Place: Dubai
	B.G. BangurDate: 9th August, 2021ChairmanDIN: 00244196
	Visit us on www.shreecement.comFor details e-mail at : iaioos@lshreecement.com