<ul><li><strong>Net losses in FY23</strong><ul><li>Revenue rose year-on-year (YoY) but operational expenses also rose, mainly due to:<ul><li>Higher selling, general and administrative (SG&amp;A) expenses</li><li>Higher lease rentals</li><li>Higher power costs (up 37% YoY)</li></ul></li><li>The company's profitability was impacted by heavy competition from major players in the industry, who added new capacity in the plant area.</li></ul></li><li><strong>Efforts to reduce costs</strong><ul><li>The company has initiated efforts to reduce the cost of production, including:<ul><li>Setting up a captive solar power generation unit with a capacity of 5 MW</li><li>Expecting industry margins to improve due to softening of international coal prices and declining crude oil prices</li><li>Expecting demand from the infrastructure segment and rural housing to drive demand in FY24</li></ul></li></ul></li></ul>

Srichakra Cement Takes Steps to Reduce Costs, Eyeing Improved Profitability in FY24