Star Cement Limited — PPTs, 12-02-2025: Investor Presentation

**Financial Highlights:** In Q3 FY25, Star Cement reported a cement sales volume of 10.6 lakh tons, reflecting a 9.7% YoY growth. The revenue from cement and clinker sales increased by 10% to INR 719 Cr. Despite this growth, EBITDA fell to INR 107 Cr, a 30% decline from INR 153 Cr YoY, due to higher logistics and production costs, leading to a significant drop in EBITDA per ton to INR 1,007 from INR 1,582.

**Strategic Initiatives and Growth Drivers:** Star Cement is on track to expand its cement production capacity to approximately 12 MTPA by FY27, with significant CAPEX in ongoing projects. The company is also advancing towards enhancing its green energy usage, targeting a 55% share by FY26.

**Business Developments:** Star Cement plans to commission a new 12 MW Waste Heat Recovery System (WHRS) in Q4 FY25, which is expected to further optimize power costs.

**Market Position and Competitive Advantage:** With about 25% market share in North-East India, Star Cement maintains a strong position in the region, leveraging a robust dealer network of approximately 2,000.

**Investor Implications:** While the sales growth is promising, ongoing challenges related to increased costs could impact profitability in the near term. Investors should monitor the company's expansion and efficiency initiatives for potential positive outcomes in the longer run.