GUPTA & DUA 4594A/9, Daryaganj, New Delhi-ll 0002

CHARTERED ACCOUNTANTS Phonc-O 11-43525949,45694763

E-mail: mukeshdua@[Link]
Website: - [Link]

INDEPENDENT AUDITORS' LIMITED REVIEW REPORT

TO BOARD OF DfRECTORS OF SHREE CEMENT LIMITED

[Link] have reviewed the accompanying State:me:nl of Unaudited Standalone Financial Re:sults
("the Statement") of SHREE CEMENT LIMITED ("the Company") f(H" the quarter and nine
months ended on December 31, 2019 being submitted by [hc Company pursuant to Regulation 33
of SEBI (Listing Obligations and Disclosure Requireme:nts) Regulations, 20J 5 (the "'Li>;ting
Regulation, 2015).

2. This Statement, which is the responsibility of the Company's management and approved by the
Company's Board of Directors, has been pre:pare:d in accordance with the recognition and
measurement principles laid down in Indian /\ceounting 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 Regulation 33 of the
Listing Regulations. OUf responsibility is to express a conclusion on the Statement based on our
review.

[Link] conducted our review in accordance with the Standard on Review Engagements (SRE)
2410, 'Review of Interim Financial Jni0D11ation Perfonned by the Independent Auditor of the
Entity', issued by the Institute of Chartered Accountants ofIndia. This standard requires 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.

4,Based on our review conducted as above, nothing has come to (Jur attention that causes us to
believe that the accompanying statement of Unaudited Standalone Financial Results prepared in
accordance with applicable accounting standards specjfjed in section 133 of the Companies Ac!'
2013 read with Rule 7 of the: Companies (Acc(lunts) Rules. 2014 and other recognized accounting
practices and policies has not disclosed the information required to be disclosed in terms of
Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
including the manner in which it is to be disclosed, or that it contains any material misstatement.
For Gupta & Dua
Chartered Accountants
Firms' Registration

Mukesh Dua
Partner
Membership No.085323
UDIN: - 2- 00 9:_c:
Jaipur, February 14,2020
('

SHREE CEMENT LIMITED

Regd. Office: Bangur Nagar, Beawar·30S901, Distt. Ajmer (Rajasthan)
Phone: EPA8X 01462 228101-6. Fax: 01462 228117/119 .·mail: [Link]@shreecemenlcomWebsite:[Link]
CIN: l26943RJ1979PlC001935

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS

, FOR THE QUARTER AND NINE MONTHS ENDED ON 31ST DECEMBER. 2019
Rs. in CfOte'S
Quarter ended Nino Months ended Previous year
:.[Link]
S.N. PARTICULARS 31.12.2019 30.09.2019 I 31.12.2018 31.12.2019 31.12.2018
(Unaudited) (Unaudited) i (Unaudited) (Unaudited) (Unaudited) 31.03.2019
I (Audited)
I Revenue from Operations 284834 2780.63
II Other Income
- ... 6494!
28" 71j
5775 55.31
868646i

1
8437.13

73~~~ ____.!C:~:'? 1
1172200.
24540
III Total Income 2913.28 1 2859.46 2835.94 8860.291 8637.44 11967.40
I
IV Expenses
(a) Cost of Materials Consumed 180J 180.22 211.53 563.56 658.24 894.81
Changes in Inventories of Finished Goods and Work-in-
(b) 69.67 (2944) (6.54) 23.05 (44.09) (3061)
Progress
(c) Employee Benefits Expense 185.60 184.95 166.58 561.94 507.36 677.82

(d) Finance Costs 74.13 71.74 59.30 213.91 177.27 246.98

(e) Depreciation and Amortization Expense 43220i 42832; 336.09 1263.19 971 10 139168
(f) Power and Fuel 479.321 , 598431 659.08 1725.91 1981.72 274504
1
(g) Freight and Forwarding Expenses 643.80 579. 72 1 65126 1891.74 2089.45 2864 10
(h) Other Expenses 440.02 443.68 388.67 1324.60 1439.46 1918.02
Total Expenses 2505.34 2457.62 2465.97 7567.90 7780.51 10707.84
V Profit Before Exceptional Items and Tax (III· IV ) 407.94 401.84 369.97 1292.39 856.93 1259.56

VI EXceptional Items
-/ - 178.13 178.13
!
VII Profit Before Tax (V· VI ) 407.941 401.84 369.97 1292.39 678.80 1081.43

Tax Expense
i
VIII
(a) Current Tax 148.61
i 133.60 45.64 425.10 133.22 220,41
(b) Deferred Tax (45.29) (40.81) 23.04 (109,41) (81.83) (87.34)
(c) Tax Expense relating to earlier years (Net) (5.33) (5.33) (2.69) (269)
Total (a to c) 97.99 92.79 68.68 310.36 48.70 130.38
IX Profit for the Period (VII-VIII) 309.95 309.05 301.29 982.03 630.10 951.05

X Other Comprehensive Income

ali) Items that will not be Reclassified to Profit or Loss - - - 5.05

alii) Income Tax relating to items that will not be Reclassified

to Profit or loss
. (1.76)

b(i) Items thaI will be Reclassified to Profit or Loss 18.03 (14.82) (8.88) 37.29 23.27 (3505)
b(ii) Income Tax relating to items that will be Reclassified to
(6.30) 5.18 3.11 (1303) (8.13) 12.25
Profit or loss
Other Comprehensive Income/(Loss) for the Period 11.73 (9.64) (5.77) 24.26 15.14 (19.51)

Xl Total Comprehensive Income for the Period (IX+X) 321.68 299.41 295.52 1006.29 645.24 931.54

XII Paid-up Equity Share Capital (Face value Rs 10 per share) 36.08 34.84 34.84 36.08 3484 3484

XIII Other Equity 9562.55

XIV Earnings Per Share (EPS) (of Rs. 10 each) - Not Annualized

Cash (in Rs.) 197.05 199.95 189.57 610.00 487.27 698.54

Basic and Diluted (In Rs.) 87.65 88.71 86.49 280.47 180.87 273.00
r REPORTING OF SEGMENT INFORMATION
Rs, in Crom~
- -_.
Quarter ended Nine Months endeo PreviQus year
S.N. PARTICULARS 31.12.2019 30.09.2019 1
31.12.2018 31,12.2019 31.12.2018 ended
(Unaudited) (Unaudited;1 (Unaudited) (Unaudited) (Unaudited) 3Ul3.2019
(Audited)
I Segment Revenue I !
I
J
<a) Cement 2817.551 2662.25; 2559.38 8328.50i 7835.88 10920.12.
(b) Power 300.261 420.20) 502.60' 1184,431 1455.49 1984.13
Total
3117. 81 1 3082.45, 30S1.9~1 9512.93 1 9291.37 12904.25
less: Inter Segment Revenue 269,47 280741 281.35 826,47 854.24 1182.25
~ '~'4

"
Revenue from Operations
Segment Results (Profit before Exceptional Items, Finance Costs and
Taxes)
(8) Cement
2848.34:

31139),
- 28D1·'f-
279.39\
""'·1
171.98
8686.46

940.06
I
8437.13

255.52
11722.00

46B 38
(b) Power 105.96' 138 88 i 202,46 397.45 581.30 799.09
Total 417.35! 418.271 374.441 1337.51, 836.82\ 1265.47
Less:
I ;
I
(a) Finance Costs

(b) Exceptionalltems
741~1 71.74 59.30 213.91 177.271
178.13'
246.98
178.13
(e) Other UnaNocable (Income) (84.72)1 (55.31) (54.83) (168.79) (197.38) (241.07)
Profit Before Tax 407.941
!
401.84 369.97 1292.39 [Link] __-
1081.43
..
III Segment Assets ! i

(a) Cement 5371 8493.39 8790.32 8453.77 879032\ 8652.98

(b) Power 830.14 9106°1 90558 830.14 905.58 980.99
" 1 ;
(e) Unallocated (Iodudes Investments of Rs. 7964.29 crores as of 31 sl
December. 2019 (Rs .. 4586.33 crores as of 31st December, 2018)] 9265.92i 6470461 5731.09 926592 5731.09 555928

Total Segment Assets

- ,,-
18549.83 15874.451 15426.99
'''''~

18549.83
-
15426.99
-.-
15193.25

2009.~
'
Segment lIa bllities

":f
IV

I (a) Cement 205742 1905.18 205742 1882.49

"'.57 '''.4
k
(b) Power 129. 57 1 193.39 146.61
(e) Unallocated ~~ __ 358~1 3912391 3522.80 3912.39 356676
-
Total Segment Liabilities 5709.791 5739.44 6010.96 5709.79 6010.96 i 5595.86
The figures of Cement Segment Indudes those of AutOClaved Aerated Concrete (AAC) Block bUSiness being a Cementitious Product
.. ..-
Notes:
1 The above results were taken on record at the meeting of the Board of Directors held on 14th February, 2020. The results have been revieWed by the
Statutory Auditors.

2 The Board of Directors of the Company at its meeting held on 14th February, 2020, has declared Interim Dividend of Rs. 110 per equity share of Rs. 10
each for the Financial Year 2019-20 which includes Rs.70 per equity share as normal dividend and Rs. 40 per equity share as additional dividend. The
same shall be payable to those shareholders who hold the equity shares of the Company on the record date i.e. 25th February, 2020.

3 Effective 1st April, 2019, the Company has adopted Ind AS 116- Leases, using mC>dified retrospective method, Accordingly, the comparatives have not
been retrospectively adjusted. The adoption of Ind AS 116 did not have any material impact on the results for the quarter and nine months ended 31 SI
December, 2019.

4 During the quarter ended 31st December, 2019, the Company has raised Rs. 2,400 Crores through Qualified Institutions Placement (QIP) and aliotted
12,43,523 equity shares of Rs. 10 each at a price of Rs. 19,3001- per Equity Share on 23rd November, 2019.

5 Previous period figures have been regrouped wherever necessary.

By order of the Board

For SHREE CEMENT LIMITED

Place: Jaipur
~
Date: 14th February, 2020 B.G, Bangur
Chairman
DIN: 00244196
For detailS e-mail at : iaioos@shreec>3ment com Visit us on [Link] _-
..- .- ....
GUPTA&DUA 4S94A/9, Daryaganj, New Dclhi-ll0002
CHARTERED ACCOUNT ANTS Phone-011-43525949,45694763
E-Mail: -mukeshdua@[Link]
Website: - [Link]

INDEPENDENT AUDITORS' LIMITED REVIEW REPORT

To Board of Directors of Shree Cement Limited

J. \\le 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 and nine months ended on December 31,
H
2019 (the "Statemem ),being submitted by the Parent pursuant to the requirements of
Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations'). Attention is
drawn to the fact that the consolidated figures for the quarter and nine months ended on
December 31, 2018, as reported in these financial results have been approved by the Parent's
Board of Directors, but have not been subjected to review.

2. This Statement, which is the responsibility of the Pareni'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 Regulation 33
of the Listing Regulations. Our responsibility is to express a conclusion on the Statement
based on our revie\v.

3. 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 ofIndia.
A revie\v 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 significal1! 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.
4. The Statement includes the results of the following entities:

Shrce CcmcJ1[ LlJ1Jiled (Parent)

, Subsidiaries
; Shree Global rZE
LShreeIntemationalIJoldingl,td.
: Shree EnlerpriscsManagement Ltd .
• Union C~~]11enl Comp<Hly (PJSC)
Union CC111cni Norcem CompanyLimitcd LLC.
Raipur Handling and Infi·astructure Private Limited

5. Based on our review conducted and procedures perfonned as statcd 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 infonnation required
to be disclosed in tenns of Regulation 33 of the Listing Regulations, including the manner in
which it is to be disclosed, or that it contains any material misstatement.

6. We did not review the interim financial results of five subsidiaries included in the
consolidated unaudited financial results, whose interim financial results reflect total revenues
of Rs. 297.47 crore and Rs. 765.28 crore, total net profit after tax of Rs. 3.00 crore and Rs.
27.99 crore and total comprehensive income of Rs. 22.18 crore and Rs. 96.20 crore, for the
quarter ended December 31, 2019 and for the period from April 0 I, 2019 to December 31,
2019, respectively, as considered in the consolidated unaudited financial results. These
interim 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 perfonncd by us as stated in paragraph 3
above.

These subsidiaries are located outside India whose interim financial results have been
prepared in accordance with accounting principles generally accepted in their respective
countries and which have been rcviewed by other auditors under generally accepted auditing
standards applicable in their respective countries. The Company's Management has converted
the interim 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 interim 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.
 or
7. We did not review the interim financial results OIll' subsicii,il'Y included in the Statemen1.
whose interim financial results reflect total rL'\enliCS of Rs. 0.:'4 crort' and Rs. 2.49 cron;,
total net profit after tax of Rs. (0.15) crore and Rs. 0.34 crore and total comprehensive
income of Rs. (0.15) crore and Rs. 0.34 crorc, for the quarter ended December 31, 2019 and
for the period from April OJ, 2019 to December 31, 2019, respectively, as considered in the
consolidated unaudited financial results. These interim 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 this subsidiary, is based solely un these interim financial results and the procedures
performed by us as stated in paragraph 3 above. According to the infonnation and
explanations given to llS by the 1\1anagemclll. these interim financial results are not material
to the Group.

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

For Gupta & Dua

Chartered Accountants
Finns' Registration No.: OO~~J:if~P~
~_"~-.L°/~'C:>~~'--"-~{/--1
Mukesh Dua lljv:.--- / .
Partner
Membership No.: 085323
UDIN: OU ~/~ :5- /2
Jaipur, February 14,2020
 SHREE CEMENT LIMITED
Regd. Office: Bangur Nagar, Beawar-305901, Distt. Ajmer (Rajasthan)
Phone: EPABX 01462 228101-6, Fax: 014622281171119 e·mail: shreebwr@[Link]:[Link]
CIN: L26943RJ1979PLC001935

STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS

FOR THE QUARTER AND NINE MONTHS ENDED ON 31ST DECEMBER, 2019
Rs. in Crores
Quarter ended Nine Months ended Previous year
~-3-1.-12-,-20-1-9-'--3-0-.0-9-.2-0-19~'-3-1-.1-2-.2-0-1-8-+--3-1.-1-2.-2-0-19-''-3-1-.1-2-.2-0-1-8~ ended
S.N. PARTICULARS
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) 31.03.2019
(Audited)

I Revenue from Operations 314601 300445 3139.76 9453.25 9065.30 12554.65

II Other Income 65.64 58.63 55.83 176.23 201.11 249.76
III Total Income 3211.65 3063.08 3195.59 9629.48 9266.41 11

IV Expenses
(a) Cost of Materials Consumed 215.97 255.67 689.04 750.14 1029.74
(b) Purchases of Stock in Trade 20.80 25.64 49.68 25.64 25.64
(c) Changes in Inventories of Finished Goods, Stock-in-Trade
85.98 (54.90) 40.69 2449 (403) (39.94)
and Work-in-Progress
(d) Employee Benefits Expense 21640 216.76 197.53 653.51 567.18 767.18
(e) Finance Costs 7543 72.99 59.78 217.56 177.89 247.86
(f) Depreciation and Amortization Expense 460.04 454.80 363.84 1343.14 1023.55 1471.81
(g) Power and Fuel 580.30 676.59 771.45 2004.57 2221.73 3092.63
(h) Freight and Forwarding Expenses 663.10 589.69 667.11 1936.03 2118.31 2903.37
(i) Other Expenses 462.64 464.28 415.37 1393.56 1486.17 1982.35
Total Expenses 2801.89 2656.98 2797.08 8311.58 8366.58 11480.64
V Profit Before Exceptional Items and Tax (III - IV ) 409.76 406.10 398.51 1317.90 899.83 1323.77
VI Exceptional Items 178.13 178.13
VII Profit Before Tax (V - VI ) 409.76 406.10 398.51 1317.90 721.70 1145.64
VIII Tax Expense
(a) Current Tax 148.58 133.63 425.28 133.28 220.56
(b) Deferred Tax (45.32) (40.83) (109.46) (81.85) (87.28)
(c) Tax Expense relating to earlier years (Net) (5.33) (5.33) (2.69) (2.69)
Total (a to c) 97.93 92,80 68.68 310.49 48.74 130.59
IX Profit for the Period (VII-VIII) 311.83 313.30 329.83 1007.41 672.96 1015.05
Profitl(Loss) attributable to :
Owners of the Company 309.63 1006.39
Non-Controlling Interest 2.20 8.66

X Other Comprehensive Income

ali) Items that will not be Reclassified to Profit or Loss 5.54

alii) Income Tax relating to items that will not be Reclassified to

(1.76)
Profit or Loss

b(i) Items that will be Reclassified to Profit or Loss 37.21 42.56 (97.08) 105.50 5046 (28.10)
b(ii) Income Tax relating to items that will be Reclassified to Profit
(6.30) 5.18 (13.03) (8.13) 12.25
or Loss

Other Comprehensive Income/(loss) for the Period 30.91 47.74 (93.97) 92.47 42.33 (12.07)

Other Comprehensive Income/(Loss) attributable to :

Owners of the Company (91.04) 41.66 (12.16)
Non-Controlling Interest (2.93) 0.67 0.09

XI Total Comprehensive Income for the Period (IX+X) 342.74 361.04 235.86 1099.88 715.29 1002.98

Total Comprehensive Income/(Loss) attributable to :

Owners of the Company 34002 235.52 1090.48 708.00

Non-Controlling Interest 2.72 4.32 940

XII Paid-up Equity Share Capital (Face value Rs. 10 per share) 36.08 34.84 34.84 3608 34.84 34.84
XIII Other Equity 9635.91
XIV Earnings Per Share (EPS) (of Rs. 10 each) - Not Annualized

Cash (in Rs,) 204.65 207.82 204.61 637.41 512.38 736.92

Basic and Diluted (in Rs.) 87.55 89.16 93.74 285.58 191.27 288.88

Page 1
 -- -- --- ~,,'

REPORTING OF SEGMENT INFORMATION

Ht:.. ifl CrOrel\

,.;l;llll!W!r ended iX:. Nine Months ended PrevIous year

S.N. PARTICULARS
-31~12.201S 30.09.2019 31.12.2018 31.12.20191 31.12.2018 ended
(Unaudited) (Unaudited) {Unaudited) (Unaudited): (Unaudited) 31.03.2019
(Auditadl
I Segment Revenue i
!
(a) Cement 3115.22 2864.99 2918.51 9095.29 8464.05 11752.77 I
(b) Power 300.26 420.20 502.60 1184.43 1455.49 1984.13
Total 3415.48 3285.19 3421.11 10279.72 9919.54 13736.90
Less: Inter Segment Revenue _. -.-
269.47 1.
---j----- 280.74 281.35
-
826.47 854.24
-
1182.25
Revenue from Operations
~- ... - ....._-- _...... _._
3146.01,
. _--
I
3004.45
-~., -..- 3139.76
~ ..... - 9453.25 9065.30 .- ....... 12554.65
~---

Segment Results (Profit before Exceptional Items, Finance

Ii
Costs and Taxes) I
(a) Cement 313. 91 1 284.01 200.48 966.92 298.23 529.65
(b) Power 105961 13866 202.46 397.45 581.30 799.09
Total 419. 87 1 422,89 402.94 1364.37 879.53 1328.74
Less:
(a) Finance Costs 75.43 72.99 59 . 78 217.56 177.89 247.86
!
(b) Exceptionalltems 176.13 176.13
(c) Other Unallocable (Income) (65.32) (56 . 20) (55.35) (171.09) (196.19) (242.69)
-.. -~

Profit Before Tax 409.76 406.10 398.51 1317.90 721.70 1145.64

iii Segment Assets
(a) Cement 11020.64 10963.87 11198.86 11020.64 11198.86 10976.97
(b) Power 630.14 910.60! 905.58 830.14 905.58 960 . 99
(c) Unallocated (Includes Investments of Rs. 5767.59 crore as of i
31 st December, 2019 (Rs. 2435.33 crores as of 31st 7189 . 96 4437. 96 1 3713 . 58 718996 3713.56 3533.09
December, 2016)1
Total Segment Assets 19040.74 16312.43 15818.02 19040.74 15818.02 15493.05
N Segment Liabilities
(a) Cement 2210.62 2143.80 2147.92 2210.62 2147.92 2019.48
(b) Power 129.57 143.44 193.39 129.57 193.39 146.61
(c) Unallocated 3636.41 3667.96 393473 363641 3934 73 359373
.~--,"

Total Segment Uabilities 5978.60 5975.20 6276.04 5978.60 6276.04 5759.82

The figures of Cement Segment includes those of Autoclaved Aerated Concrete (MC) Block business being a Cementitious Product..

Notes:

1 The above results were taken on record at the meeling of the Board of Directors held on 14th February, 2020. The results have been reviewed by the Statutory
Auditors.

2 The Board of Directors of the Company at its meeting held on 14th February, 2020, has declared Interim Dividend of Rs. 110 per equity share of Rs. 10 each for
the Financial Year 2019-20 which includes RS . 70 per equity share as normal dividend and Rs. 40 per equity share as additional dividend. The same shall be
payable to thOse shareholders who hold the equity shares of the Company on the record date i.e. 25th February, 2020.

3 Company had acquired majority stake in Union Cement Company (UCC) Pr. JSC, a United Arab Emirates (UAE) based Company on 11th July, 2018 through its
Wholly Owned subsidiaries. Company had also acquired 100% equity stake in Raipur Handling and Infrastructure Pvt. Ltd. (RHIPL) on 14th May, 2018.
Accordingly, Financial Resu~s for Nine Months ended 31st December, 2018 include results of RHIPL from 14th May, 2016 and UCC from 11th July, 2018
whereas results for nine months period ended 31st December, 2019, include results of these Companies for entire period. Hence, results for Nine months
ended 31st December, 2019 are not comparable with corresponding period of nine months ended 31st December, 2016.

4 Effective 1st April, 2019, the Company has adopted Ind AS 116-leases, USing modified retrospective method. Accordingly, the comparatives have not been
retrospectively adjusted. The adoption of Ind AS 116 did not have any material impact on the results for the quarter and nine months ended 31st December,
2019.

5 During the quarter ended 31 st December, 2019, the Company has raised Rs.. 2,400 Crores through Qualified Institutions Placement (QIP) and allotted
12,43,523 equity shares of Rs. 10 each at a price of Rs. 19,300/· per Equity Share on 23rd November, 2019

6 Previous period figures have been regrouped wherever necessary.

By order of the Board

For SHREE CEMENT LIMITED

Place: Jaipur
,~
Date: 14th February, 2020 B.G. Bangur
Chairman
DIN: 00244196
s:Q)shreecementcom Visit us on [Link]
....