Arthneeti

Shree Cement Q2 FY27 Share Price & Earnings Call Analysis

₹23,120.00+0.43% today
Market cap
₹83,419 Cr
P/E
51.16
ROE
7.51%
PEG
5.08
Price to sales
3.80
Debt to equity
0.08
52W high / low
₹29,210 / ₹21,600
Sales growth (5Y)
9.08%
EBITDA margin
20.91%
Net profit margin
8.06%
Promoter holding
62.56%
Sales (last year)
₹21,896 Cr

Shree Cement is engaged in manufacturing and selling of cement and cement related products and is ** one of the lowest cost producers in the country. It is the 3rd largest** cement producer in India with an installed capacity of 46.4 MTPA. [1]

Guidance scorecard · Q2 FY27 call

What Shree Cement Ltd's management guided
and where it ranks in Cement & Cement Products

#6of 17 in
Cement & Cement Products
Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ2 FY27 call

10–20%
  • India volumes expected to reach 40 to 41 million tons for the full year FY27, with growth slightly better than industry demand growth of 7%-10%.
  • UAE cement volumes expected to be around 4 to 5 million tons annually, including 3 million tons of new capacity recently commissioned.
  • Capacity expansion aiming for 80 million tons in the short term.
  • Focus on ramping up utilization rates, especially in India, where capacity is at 70 million tons but volumes about 40-42 million tons currently.
  • Ready-mix concrete business growing rapidly, with volume up 153% YoY and expanding plant network.

2 more points from Shree Cement Ltd's call on revenue

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Full Q2 FY27 analysis

MarginsQ2 FY27 call

Flat

See what Shree Cement Ltd said on margins — free account, 30 seconds.

Full Q2 FY27 analysis

CapexQ2 FY27 call

Planned
  • Shree Cement plans to reach 80 million tons capacity in the short term, indicating ongoing capacity expansion.
  • Meghalaya plant is on track for commissioning in FY28; construction is expected to start soon with workforce and contractors mobilized.
  • Capital expenditure for first half of the year was INR 895 crores; expected INR 700-800 crores in the second half.
  • Investment in increasing alternate fuel consumption (AFR/thermal substitution rate) from 5% towards higher levels as new plants get commissioned.
  • Expanding power capacity by adding around 80 MW renewable power to existing 667 MW (WHR, solar, wind).
  • New 3 million ton cement capacity being added in UAE to convert clinker into cement and to produce specialized products.

2 more points from Shree Cement Ltd's call on capex

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Full Q2 FY27 analysis

FundraisingQ2 FY27 call

See what Shree Cement Ltd said on fundraising — free account, 30 seconds.

Full Q2 FY27 analysis

Order bookQ2 FY27 call

  • The order pipeline for Shree Cement indicates a fuel cost guidance of INR 2.15 to INR 2.20 per kcal for the forthcoming quarter, suggesting active and ongoing operations.
  • The company notes no significant share of external power sales due to the insignificance of power contribution, indicating limited external off-take contracts.
  • New capacity commissioning is expected, such as the Meghalaya plant projected for FY28, with construction expected to start soon.
  • Work on strategic expansion is ongoing with a commitment to reach 80 million tons capacity soon.
Full Q2 FY27 analysis
Full Cement & Cement Products ranking

Ranges 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

  1. BIGBLOC Const.Good growth
    2
  2. Strong growth
    1
  3. J K Cements LtdGood growth
    3
See all potential multibaggersWhere does Shree Cement Ltd rank?

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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

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Flat₹1.99L Cr34.6
2BIGBLOC Const.20–40%Up 2%+₹613 Cr364.4
3J K Cements Ltd20–40%Flat₹37,843 Cr38.8
410–20%Up 2%+₹1,289 Cr—
510–20%Flat₹3.21L Cr37.3
6Shree Cement LtdThis stock10–20%Flat₹83,058 Cr50.9

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Shree Cement Ltd announcements

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Financials of Shree Cement Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Shree Cement Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +62.56%62.56%62.56%62.56%62.56%62.56%62.56%62.56%62.56%62.56%62.56%62.56%
FIIs +12.31%12.47%11.85%10.39%9.88%9.70%10.07%10.34%10.07%8.94%8.21%8.45%
DIIs +12.37%12.14%12.78%14.22%14.78%15.07%14.65%14.40%14.59%15.79%16.42%16.49%
Government +0.17%0.18%0.23%0.23%0.25%0.25%0.25%0.25%0.25%0.25%0.25%0.00%
Public +12.60%12.64%12.59%12.60%12.53%12.42%12.48%12.46%12.54%12.48%12.57%12.51%
No. of Shareholders24,85228,26826,74429,90325,53124,77925,59226,17828,75529,59227,34528,948

Financials of Shree Cement Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +4,7745,1935,4015,1244,0544,5735,5325,2814,7614,8016,1016,2335,897
Expenses +3,8883,9303,9794,1973,4413,6084,1033,9483,7873,8534,7174,9614,880
Operating Profit8861,2641,4229276139651,4291,3339749471,3841,2721,016
OPM %19%24%26%18%15%21%26%25%20%20%23%20%17%
Other Income +132147150139181111158235179146101212112
Interest67556256565241465159565759
Depreciation412444702704716799788654668710762686703
Profit before tax53991380730623225758868434324667741367
Tax %17%23%16%9%-229%14%24%26%29%17%21%28%28%
Net Profit +44770267627877194575644310268528531263
EPS in Rs123.79194.53187.0577.2221.1953.60159.18178.1285.5173.92145.70146.6772.57

Financials of Shree Cement Ltd

Profit & Loss

Annual income statement trend

Jun 2015Mar 2016 9mMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +6,2595,5148,5949,83312,55512,86813,56015,01017,85220,40419,28320,94323,031
Expenses +4,9164,1076,0817,3609,7589,0989,46811,30014,89315,88715,34916,30618,411
Operating Profit1,3441,4072,5132,4732,7973,7714,0913,7102,9604,5173,9344,6384,620
OPM %21%26%29%25%22%29%30%25%17%22%20%22%20%
Other Income +10267336238969263426544459598589661571
Interest12176129135248291251216263258205212230
Depreciation9258281,2158991,4721,8081,2621,1461,6611,8973,0072,7942,861
Profit before tax4011,1761,5311,8271,1461,9343,0042,8921,4952,9591,3122,2932,099
Tax %-6%3%13%24%11%20%24%19%15%19%14%24%
Net Profit +4261,1431,3391,3841,0151,5442,2902,3371,2692,3961,1241,7491,590
EPS in Rs122.37328.13384.38397.32288.86425.67633.54646.31352.18663.98311.18483.24438.86
Dividend Payout %20%7%36%13%21%26%9%14%28%16%35%31%

Financials of Shree Cement Ltd

Balance Sheet

Capital structure and asset base

Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital35353535353636363636363636
Reserves5,2416,8117,6638,8629,63613,13315,36117,42418,60020,66721,50223,23123,826
Borrowings +9178811,2933,4032,8033,1462,2302,1292,7251,6561,0461,8682,179
Other Liabilities +1,8051,7372,1752,8423,0193,6293,8864,1594,9735,5665,8806,3126,610
Total Liabilities7,9989,46311,16615,14215,49319,94421,51323,74926,33427,92528,46431,44832,651
Fixed Assets +3,0043,0502,5993,5896,1826,1636,2167,2827,4819,5919,31511,20710,987
CWIP5112647101,4271,1291,1979971,0542,7971,9303,7961,4661,284
Investments1,6623,0304,0425,4342,2866,3588,5009,0338,6837,5567,84910,2729,722
Other Assets +2,8203,1183,8144,6915,8966,2275,8006,3807,3738,8487,5048,50310,658
Total Assets7,9989,46311,16615,14215,49319,94421,51323,74926,33427,92528,46431,44832,651

Financials of Shree Cement Ltd

Cash Flows

Operating, investing and financing cash movement

Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +1,2391,5662,2021,8792,0803,9734,2542,6682,5693,3474,9203,794
Cash from Investing Activity +-990-1,265-2,048-3,595-720-5,590-2,651-2,143-2,405-1,418-3,726-3,714
Cash from Financing Activity +-259-271-1671,726-1,2761,581-1,233-849-277-1,710-1,296-110
Net Cash Flow-1031-131084-36370-324-113220-102-30
Free Cash Flow115832922-6481582,4333,125459-7101788371,979
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit99%121%99%96%83%118%122%77%98%84%136%89%

Financials of Shree Cement Ltd

Ratios

Working capital efficiency and return ratios

Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days282214173031181925232732
Inventory Days708657765743672631585878703670444469
Days Payable225207205345193242301313305229247274
Cash Conversion Cycle511472575416509420302584423464223227
Working Capital Days18322211625-21-1-277-8-10
ROCE %9%18%20%18%13%15%19%17%9%15%7%10%

Guidance history

How Shree Cement Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q2 FY27 call →10–20%FlatPlanned——
Q1 FY27 call →10–20%FlatPlannedNone planned—
Q4 FY26 call →10–20%FlatPlannedNone planned—
Q3 FY26 call →0–10%FlatNone planned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

20out of 100

Momentum score · price trend

20 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−20.8%35%
Last 6 months−4.4%46%
Last 3 months−12.6%34%

The price is 27.2% below its all-time high of ₹31,748.75 (9 Apr 2021). Stocks more than 20% below their peak have their score halved, so 39 became 20.

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 Cement Ltd: 0.4 × 35 + 0.4 × 46 + 0.2 × 34 = 39, halved to 20 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 29 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 Cement Ltd's management said in earlier quarters

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