Shree Digvijay Cement posts 63% rise in sales

India-based Shree Digvijay Cement has announced a 63.1 per cent YoY rise in sales in the fourth quarter, ended March 2018. EBITDA increased 41.5 per cent to INR189m (US$2.83m), while EBITDA margin fell 2.3 per cent.

Total income surged 255.6 per cent to INR92m, compared to INR36m of the December 2017 quarter.

While it has been posting positive results recently, the company had accumulated losses of approximately INR468m up to FY17, reports Money Control. In March 2018, Shree Digvijay approved a restructuring scheme which would adjust the accumulated losses against capital reserves.

The company’s majority shareholder, Votorantim Cementos, may sell its 75 per cent share in the company, according to The Economic Times.