Shree Digvijay Cement Co. Q3 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹777 Cr
- P/E
- 43.08
- ROE
- 6.86%
- PEG
- -1.76
- Price to sales
- 0.89
- Debt to equity
- 1.41
- 52W high / low
- ₹92.2 / ₹52.6
- Sales growth (5Y)
- 8.30%
- EBITDA margin
- 8.53%
- Net profit margin
- 3.34%
- Promoter holding
- 63.71%
- Sales (last year)
- ₹890 Cr
Incorporated in 1944, Shree Digvijay cement Company Ltd manufactures and sells Cement[1]
Guidance scorecard · Q3 FY26 call
What Shree Digvijay Cement Co. Ltd's management guided
and where it ranks in Cement & Cement Products
Cement & Cement Products
RevenueQ3 FY26 call
10–20%- Shree Digvijay Cement expects to grow sales volumes better than the industry growth rate of 7-8%, aiming for at least 150% to 200% of market growth.
- The company targets around 3 to 3.5 million tons volume for FY '27, utilizing approximately 70% of the 5.2 million ton capacity.
- The Gujarat cement market is expanding at 6-7% year-on-year with strong demand, supported by government infrastructure projects and the upcoming Commonwealth Games 2030.
- The company anticipates double-digit volume growth in the Saurashtra region, increasing market share from about 17% to 14-15%.
2 more points from Shree Digvijay Cement Co. Ltd's call on revenue
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MarginsQ3 FY26 call
FlatSee what Shree Digvijay Cement Co. Ltd said on margins — free account, 30 seconds.
CapexQ3 FY26 call
Planned- No immediate capex planned at Hi-Bond level; focus currently on settling the transaction and utilizing existing combined capacity of 5.2 million tons.
- Future expansion plans are contingent upon reaching higher utilization levels (3.5 to 4 million tons combined), after which opportunities will be explored.
- At Digvijay Cement, expansion with a recently commissioned 1.5 million tons grinding unit completed in October; capacity utilization targeted to reach ~70% in FY '27.
- Exploration and acquisition of limestone mines are ongoing to secure raw material, with two mines acquired recently (~20 million tons reserves).
2 more points from Shree Digvijay Cement Co. Ltd's call on capex
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FundraisingQ3 FY26 call
PlannedSee what Shree Digvijay Cement Co. Ltd said on fundraising — free account, 30 seconds.
Order bookQ3 FY26 call
Ask what Shree Digvijay Cement Co. Ltd said on the order book →
Full Q3 FY26 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Cement & Cement Products
on management's own guidance
- BIGBLOC Const.Good growth2
- Strong growth1
- J K Cements LtdGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Cement & Cement Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹1.99L Cr | 34.6 | |
| 2 | BIGBLOC Const. | 20–40% | Up 2%+ | ₹613 Cr | 364.4 |
| 3 | J K Cements Ltd | 20–40% | Flat | ₹37,843 Cr | 38.8 |
| 4 | 10–20% | Up 2%+ | ₹1,289 Cr | — | |
| 5 | 10–20% | Flat | ₹3.21L Cr | 37.3 | |
| 6 | 10–20% | Flat | ₹83,058 Cr | 50.9 |
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Pro shows every company guiding 40%+ revenue growth →Full Cement & Cement Products rankingFinancials of Shree Digvijay Cement Co. Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Shree Digvijay Cement Co. Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 55.07% | 54.83% | 54.83% | 54.83% | 54.68% | 54.68% | 54.66% | 54.66% | 45.12% | 59.20% | 63.71% | 63.71% |
| FIIs + | 2.91% | 2.07% | 1.94% | 0.77% | 0.64% | 1.12% | 1.10% | 0.42% | 1.04% | 0.38% | 0.50% | 0.58% |
| DIIs + | 0.70% | 0.47% | 0.21% | 0.89% | 0.96% | 1.08% | 1.99% | 2.25% | 4.01% | 1.29% | 1.42% | 1.69% |
| Public + | 41.32% | 42.62% | 43.02% | 43.50% | 43.72% | 43.12% | 42.25% | 42.67% | 49.82% | 39.13% | 34.37% | 34.01% |
| No. of Shareholders | 74,092 | 85,442 | 94,483 | 1,00,940 | 1,01,623 | 1,00,299 | 96,395 | 91,928 | 86,613 | 83,326 | 81,126 | 78,915 |
Financials of Shree Digvijay Cement Co. Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 183 | 191 | 224 | 177 | 145 | 187 | 216 | 196 | 161 | 183 | 208 | 337 | 279 |
| Expenses + | 165 | 142 | 176 | 155 | 137 | 187 | 189 | 172 | 142 | 181 | 184 | 308 | 281 |
| Operating Profit | 18 | 49 | 48 | 22 | 8 | -0 | 28 | 24 | 19 | 2 | 25 | 29 | -2 |
| OPM % | 10% | 26% | 21% | 12% | 6% | -0.1% | 13% | 12% | 12% | 1.3% | 12% | 9% | -0.6% |
| Other Income + | 2 | 2 | 3 | 2 | 1 | 2 | 5 | 1 | 1 | 1 | 0 | 1 | 0 |
| Interest | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 4 | 5 | 12 | 11 |
| Depreciation | 9 | 8 | 8 | 8 | 8 | 7 | 7 | 6 | 6 | 9 | 10 | 10 | 9 |
| Profit before tax | 10 | 42 | 43 | 15 | 1 | -6 | 25 | 19 | 14 | -9 | 11 | 9 | -22 |
| Tax % | 29% | 25% | 26% | 25% | 47% | -25% | 27% | 26% | 25% | -24% | 26% | 25% | -26% |
| Net Profit + | 7 | 31 | 32 | 11 | 0 | -5 | 18 | 14 | 10 | -7 | 8 | 7 | -16 |
| EPS in Rs | 0.50 | 2.14 | 2.15 | 0.76 | 0.03 | -0.33 | 1.24 | 0.93 | 0.69 | -0.47 | 0.54 | 0.46 | -1.10 |
Financials of Shree Digvijay Cement Co. Ltd
Profit & Loss
Annual income statement trend
| Dec 2014 | Mar 2016 15m | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 411 | 474 | 315 | 413 | 436 | 470 | 503 | 629 | 725 | 792 | 725 | 749 | 1,008 |
| Expenses + | 394 | 432 | 307 | 366 | 410 | 369 | 397 | 512 | 624 | 646 | 668 | 679 | 954 |
| Operating Profit | 18 | 41 | 8 | 48 | 27 | 101 | 106 | 117 | 101 | 146 | 57 | 71 | 55 |
| OPM % | 4.3% | 9% | 2.6% | 12% | 6% | 21% | 21% | 19% | 14% | 18% | 8% | 9% | 5% |
| Other Income + | 7 | 3 | 12 | 6 | 5 | 2 | 6 | 4 | 7 | 9 | 10 | 4 | 3 |
| Interest | 7 | 13 | 11 | 11 | 4 | 2 | 2 | 1 | 1 | 2 | 3 | 10 | 31 |
| Depreciation | 14 | 26 | 22 | 23 | 24 | 25 | 27 | 31 | 35 | 35 | 30 | 31 | 38 |
| Profit before tax | 4 | 5 | -14 | 21 | 3 | 77 | 83 | 88 | 71 | 118 | 35 | 34 | -11 |
| Tax % | 0% | 0% | -35% | 35% | 38% | 26% | 35% | 37% | 19% | 26% | 27% | 26% | |
| Net Profit + | 4 | 5 | -9 | 13 | 2 | 56 | 54 | 55 | 58 | 88 | 25 | 25 | -8 |
| EPS in Rs | 0.26 | 0.37 | -0.64 | 0.95 | 0.15 | 3.99 | 3.79 | 3.84 | 3.97 | 5.95 | 1.70 | 1.69 | -0.57 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 38% | 66% | 91% | 101% | 50% | 88% | 59% |
Financials of Shree Digvijay Cement Co. Ltd
Balance Sheet
Capital structure and asset base
| Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 141 | 141 | 141 | 141 | 141 | 141 | 142 | 144 | 145 | 147 | 148 | 148 | 148 |
| Reserves | 52 | 57 | 63 | 77 | 78 | 135 | 169 | 168 | 179 | 234 | 216 | 218 | 193 |
| Borrowings + | 86 | 116 | 96 | 25 | 40 | 0 | 0 | 0 | 0 | 0 | 111 | 514 | 479 |
| Other Liabilities + | 82 | 99 | 78 | 107 | 100 | 103 | 120 | 150 | 143 | 158 | 226 | 185 | 323 |
| Total Liabilities | 361 | 414 | 378 | 351 | 360 | 380 | 432 | 462 | 468 | 539 | 700 | 1,064 | 1,143 |
| Fixed Assets + | 206 | 216 | 217 | 201 | 194 | 188 | 182 | 197 | 182 | 171 | 163 | 406 | 407 |
| CWIP | 4 | 0 | 0 | 8 | 10 | 9 | 13 | 5 | 7 | 39 | 216 | 15 | 4 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 3 | 3 |
| Other Assets + | 151 | 197 | 161 | 142 | 156 | 182 | 237 | 260 | 279 | 328 | 318 | 641 | 730 |
| Total Assets | 361 | 414 | 378 | 351 | 360 | 380 | 432 | 462 | 468 | 539 | 700 | 1,064 | 1,143 |
Financials of Shree Digvijay Cement Co. Ltd
Cash Flows
Operating, investing and financing cash movement
| Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 25 | 21 | 31 | 102 | -2 | 94 | 95 | 57 | 86 | 96 | 135 | -411 |
| Cash from Investing Activity + | -25 | -32 | -29 | -12 | -4 | -14 | -97 | -40 | -37 | -61 | -164 | -8 |
| Cash from Financing Activity + | 25 | 17 | -32 | -81 | 12 | -42 | -21 | -56 | -50 | -34 | 65 | 373 |
| Net Cash Flow | 25 | 5 | -30 | 8 | 6 | 38 | -23 | -39 | -0 | 1 | 36 | -45 |
| Free Cash Flow | -10 | -15 | 8 | 86 | -19 | 78 | 67 | 22 | 65 | 37 | -48 | -490 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 143% | 53% | 357% | 216% | -2% | 106% | 103% | 69% | 102% | 86% | 257% | -571% |
Financials of Shree Digvijay Cement Co. Ltd
Ratios
Working capital efficiency and return ratios
| Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 12 | 12 | 6 | 11 | 11 | 8 | 8 | 8 | 11 | 15 | 9 | 18 |
| Inventory Days | 213 | 334 | 437 | 181 | 253 | 352 | 342 | 517 | 425 | 408 | 288 | 291 |
| Days Payable | 121 | 188 | 213 | 236 | 231 | 258 | 234 | 255 | 231 | 197 | 327 | 222 |
| Cash Conversion Cycle | 104 | 158 | 230 | -45 | 33 | 101 | 116 | 270 | 205 | 226 | -30 | 86 |
| Working Capital Days | -72 | -67 | -92 | -55 | -45 | -8 | -6 | 16 | 13 | 59 | 10 | 180 |
| ROCE % | 4% | 7% | -1% | 12% | 3% | 29% | 29% | 29% | 23% | 34% | 9% | 6% |
Momentum score · price trend
5 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −41.8% | 10% |
| Last 6 months | −27.2% | 10% |
| Last 3 months | −27.2% | 6% |
The price is 55.3% below its all-time high of ₹117.62 (20 Jan 2024). Stocks more than 20% below their peak have their score halved, so 9 became 5.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Shree Digvijay Cement Co. Ltd: 0.4 × 10 + 0.4 × 10 + 0.2 × 6 = 9, halved to 5 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 28 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Shree Digvijay Cement Co. Ltd's management said in earlier quarters
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