Arthneeti

Shri Keshav Cements & Infra Q3 FY26 Share Price & Earnings Call Analysis

₹69.22-1.11% today
Market cap
₹121 Cr
ROE
-7.02%
Price to sales
0.73
Debt to equity
2.64
52W high / low
₹242 / ₹69.2
Sales growth (5Y)
14.93%
EBITDA margin
19.98%
Net profit margin
-4.05%
Promoter holding
62.33%
Sales (last year)
₹168 Cr

Incorporated in 1993, Shri Keshav Cements and Infra Ltd is in the business of manufacturing and trading in cement, trading in coal, and petroleum products, and in the business of generation and distribution of solar energy[1]

Guidance scorecard · Q3 FY26 call

What Shri Keshav Cements & Infra Ltd's management guided
and where it ranks in Cement & Cement Products

Revenue20–40%MarginsFlatCapexNone plannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ3 FY26 call

20–40%
  • Cement dispatches are expected to improve in Q3 and Q4 of FY '26, although the anticipated uptick did not materialize as expected.
  • Management targets 45% to 55% capacity utilization in FY '27 under current market conditions, potentially reaching 60% or higher with market improvement.
  • FY '26 Q3 sales volume showed a 32% growth year-on-year, selling around 78,000 tons versus 58,960 tons in Q3 FY '25.
  • The company plans to expand Ready-Mix Concrete (RMC) business starting in Belgaum after reaching at least 50% cement capacity utilization.
  • Consolidation in the Southern market may lead to better pricing discipline and demand recovery in the future, aiding volume growth.

2 more points from Shri Keshav Cements & Infra Ltd's call on revenue

Create a free account to keep reading this call

Full Q3 FY26 analysis

MarginsQ3 FY26 call

Flat

See what Shri Keshav Cements & Infra Ltd said on margins — free account, 30 seconds.

Full Q3 FY26 analysis

CapexQ3 FY26 call

None planned
  • The company has purchased land to set up a Ready-Mix Concrete (RMC) project in Belgaum, Karnataka, as a strategic investment to enter the RMC market.
  • RMC expansion is expected to be considered after achieving more than 50% capacity utilization in cement, likely beyond FY '27.
  • Management focuses on increasing utilization rather than capacity.

2 more points from Shri Keshav Cements & Infra Ltd's call on capex

Create a free account to keep reading this call

Full Q3 FY26 analysis

FundraisingQ3 FY26 call

See what Shri Keshav Cements & Infra Ltd said on fundraising — free account, 30 seconds.

Full Q3 FY26 analysis

Order bookQ3 FY26 call

  • Company serves North Karnataka, Coastal Karnataka, Goa, and parts of Maharashtra.
  • Focus on expanding volumes, enhancing dealer engagement, and market penetration.
  • Cement demand steady across Karnataka, Goa, and Maharashtra.
  • Institutional buyers are about 8-10%, and company growing in B2B (National Highway and RMC projects).

2 more points from Shri Keshav Cements & Infra Ltd's call on the order book

Create a free account to keep reading this call

Full Q3 FY26 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 Shri Keshav Cements & Infra Ltd rank?

Portfolio builder

Build your portfolio
from the top-ranked stocks

  1. 1. Pick 3–15 stocks
  2. 2. Choose large, mid or small cap and your sectors
  3. 3. Get a portfolio built from the rankings
Build my portfolio

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
610–20%Flat₹83,058 Cr50.9

Sign up free to see every company in the sector ranking and track Shri Keshav Cements & Infra Ltd.

Pro shows every company guiding 40%+ revenue growth →Full Cement & Cement Products ranking

Financials of Shri Keshav Cements & Infra Ltd

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

Financials of Shri Keshav Cements & Infra Ltd

Quarterly Results

Quarter-by-quarter operating performance

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales +34.3031.9231.2725.1534.0136.0230.4424.4828.1038.4340.7135.4137.93
Expenses +24.5323.7921.4617.8222.9525.3022.3821.4421.6630.8130.3027.0427.43
Operating Profit9.778.139.817.3311.0610.728.063.046.447.6210.418.3710.50
OPM %28.48%25.47%31.37%29.15%32.52%29.76%26.48%12.42%22.92%19.83%25.57%23.64%27.68%
Other Income +0.510.500.470.610.63-1.600.800.880.940.530.690.810.76
Interest4.807.184.314.424.413.783.974.395.304.444.744.606.37
Depreciation3.222.682.973.003.013.012.992.943.032.963.483.404.12
Profit before tax2.26-1.233.000.524.272.331.90-3.41-0.950.752.881.180.77
Tax %38.50%2,021.95%11.00%86.54%7.03%-3.43%6.32%22.58%-168.42%688.00%-7.64%42.37%171.43%
Net Profit +1.39-26.102.670.073.972.411.78-4.180.64-4.413.090.69-0.54
EPS in Rs1.16-21.761.720.052.531.381.02-2.390.37-2.521.760.39-0.31

Financials of Shri Keshav Cements & Infra Ltd

Profit & Loss

Annual income statement trend

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales +4851555252706880114123126121152
Expenses +374043364545415478888896116
Operating Profit1111131572527263535392537
OPM %22%22%23%30%14%36%39%33%31%28%31%21%24%
Other Income +0001000022033
Interest543811817161919171820
Depreciation333471212161112121214
Profit before tax34630-4-2-67610-26
Tax %52%31%33%43%714%359%309%47%-22%52%10%263%
Net Profit +2342-2-20-8-8939-6-1
EPS in Rs1.352.423.521.47-1.43-16.88-6.37-7.047.592.435.21-3.52-0.68
Dividend Payout %0%0%12%29%0%0%0%0%0%0%0%0%

Financials of Shri Keshav Cements & Infra Ltd

Balance Sheet

Capital structure and asset base

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital55555512121212181818
Reserves912151516-4911037857983
Borrowings +40342763162183158178216180193234242
Other Liabilities +991220474040413646618080
Total Liabilities636059104230224219232274275356410422
Fixed Assets +4342397791189176179169204194196221
CWIP008010416647976139123
Investments0000000000000
Other Assets +20181227343437475861867578
Total Assets636059104230224219232274275356410422

Financials of Shri Keshav Cements & Infra Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity +88145-108222123333229
Cash from Investing Activity +-4-1-8-35-89-6-6-19-48-11-75-56
Cash from Financing Activity +-4-6-64180-6-171136-325526
Net Cash Flow-10-011-19-4-11211-1012-1
Free Cash Flow466-30-992161-1923-34-43
CFO/OP71%76%122%48%-141%33%84%77%68%98%87%116%

Financials of Shri Keshav Cements & Infra Ltd

Ratios

Working capital efficiency and return ratios

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days13166234258511918121519
Inventory Days25219090217222194244221158148159172
Days Payable28730793064844010273150
Cash Conversion Cycle23720067161233188212201166133143141
Working Capital Days-136-98-124-149-527-355-216-2967-160-99
ROCE %15%16%20%17%1%8%9%6%12%11%11%5%

Guidance history

How Shri Keshav Cements & Infra Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q3 FY26 call →20–40%FlatNone planned——
Q1 FY26 call →40%+FlatNone plannedPlannedRising

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

Continue your research

What Shri Keshav Cements & Infra Ltd's management said in earlier quarters

Others in Cement & Cement Products this season

  • Ambuja Cements Ltd (Q2 FY27)

    Consolidated Volume Q2 FY27:** 16.5 MnT, down 1% YoY (Page 23) . Key investor presentation takeaways from Ambuja Cements Ltd's Q2 FY27 investor presentation — a

  • ACC Ltd (Q2 FY27)

    Consolidated Volume (Q2 FY27):** 16.5 MnT, down 1% YoY from 16.6 MnT in Q2 FY26 (Page 23). Key investor presentation takeaways from ACC Ltd's Q2 FY27 investor p

  • JSW Cement Ltd (Q2 FY27)

    Q2 FY27 Revenue from Operations: ₹1,912.1 crore, up 33.1% YoY (Page 24) . Key investor presentation takeaways from JSW Cement Ltd's Q2 FY27 investor presentatio

  • Dalmia BharatLtd (Q2 FY27)

    INR 10,000 crores of capex broadly invested in bringing approximately 20 million tons of capacity online. Key concall takeaways from Dalmia Bharat Ltd's Q2…

Compare:vs UltraTech Cem.vs Grasim Indsvs Ambuja Cements Ltd