News

India`s Orient Cement posts lower Q1 profit as costs outpace demand Indian cement maker Orient Cement on Tuesday reported a lower profit for the quarter ended June 30 as mounting costs outpaced strong demand. Standalone net profit for the CK Birla Group's cement business slid to 370.3 million rupees ($4.50 million) in the first quarter, compared to 374.2 million rupees a year ago. Total expenses rose more than 17% to 7.72 billion rupees. For further earnings highlights, click KEY CONTEXT Indian cement manufacturers are trying to strike a balan...
India`s Orient Cement posts lower Q1 profit as costs outpace demand
India`s Orient Cement posts lower Q1 profit as costs outpace demand
Source: Reuters
1/08/2023 2:15:37 PM
Neutral Shree Cement Ltd For Target Rs. 24, 200 - Motilal Oswal Financial Services Ltd * Shree Cement (SRCM) reported 1QFY24 EBITDA of INR9.3b vs. our estimate of INR9.6b. EBITDA/t stood at INR1,046 vs. our estimate of INR1,069. OPM declined 80bp YoY to 18.7% (est. 20%). However, adjusted PAT stood at INR5.8b, above our estimate of INR4.2b, led by lower depreciation. * SRCM has accelerated its growth plans and outlined expansion plans of 12mtpa (capex: INR70b; capex/t of ~INR71), which, along with ongoing plans, will increase its capacity to 72.4mt (consolidated). It plans t...
Neutral Shree Cement Ltd For Target Rs. 24, 200 - Motilal Oswal Financial Services Ltd
Neutral Shree Cement Ltd For Target Rs. 24, 200 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
1/08/2023 10:36:58 AM
Shree Cement surges on reporting 2- fold jump in Q1 consolidated net profit Shree Cement is currently trading at Rs. 24039.45, up by 359.95 points or 1.52% from its previous closing of Rs. 23679.50 on the BSE. The scrip opened at Rs. 23731.90 and has touched a high and low of Rs. 24331.95 and Rs. 23574.55 respectively. So far 1029 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 27013.00 on 21-Feb-2023 and a 52 week low of Rs. 20061.65 on 28-Jul-2022. Last one week high and low of the s...
Shree Cement surges on reporting 2- fold jump in Q1 consolidated net profit
Shree Cement surges on reporting 2- fold jump in Q1 consolidated net profit
Source: Accord Fintech
26/07/2023 12:19:04 PM
Shree Cement gains on completing greenfield cement plant in Bengal Shree Cement is currently trading at Rs. 24039.00, up by 146.75 points or 0.61% from its previous closing of Rs. 23892.25 on the BSE. The scrip opened at Rs. 24199.90 and has touched a high and low of Rs. 24199.90 and Rs. 23945.50 respectively. So far 1093 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 27013.00 on 21-Feb-2023 and a 52 week low of Rs. 18890.40 on 01-Jul-2022. Last one week high and low of the s...
Shree Cement gains on completing greenfield cement plant in Bengal
Shree Cement gains on completing greenfield cement plant in Bengal
Source: Accord Fintech
3/07/2023 4:48:25 PM
Neutral Shree Cement Ltd For Target Rs.25,604 - Yes Securities Utilization improvement & Premiumization lever to strong profitability   Result Synopsis Shree Cement (SRCM) reported a healthy quarter, where blended EBITDA/te is back to Rs1011/te. Standalone revenue grew by +17% y/y driven by volume & NSR growth of +10/6% y/y (incl. Rs6bn of other operating income). Ongoing Purulia GU expansion (3MTPA) to be commissioned in Q1FY24. Further, Nawalgarh (3.5MTPA) and Guntur AP (3MTPA) will be commissioned by Q3FY24 and H1FY25 respectivel...
Neutral Shree Cement Ltd For Target Rs.25,604 - Yes Securities
Neutral Shree Cement Ltd For Target Rs.25,604 - Yes Securities
Source: Yes Securities Ltd
9/06/2023 2:42:51 PM
India`s Shree cement reports 15% fall in Q4 profit on rise in input costs Shree Cement Ltd, India's second-biggest cement company by market capitalisation, reported a 15.3% fall in fourth-quarter profit on Monday as higher input costs outpaced growth in revenue. The company reported a profit of 5.46 billion Indian rupees ($66.76 million) for the quarter ended March 31, compared to 6.45 billion rupees a year earlier. Its earnings before interest, depreciation, taxes and amortisation margins fell 2% as cement prices stayed flat and expenses rose, according ...
India`s Shree cement reports 15% fall in Q4 profit on rise in input costs
India`s Shree cement reports 15% fall in Q4 profit on rise in input costs
Source: Reuters
23/05/2023 3:31:39 PM
India's Shree Cement reports 15% fall in Q4 profit on rise in input costs BENGALURU (Reuters) - Shree Cement Ltd, India's second-biggest cement company by market capitalisation, reported a 15.3% fall in fourth-quarter profit on Monday as higher input costs outpaced growth in revenue. The company reported a profit of 5.46 billion Indian rupees ($66.76 million) for the quarter ended March 31, compared to 6.45 billion rupees a year earlier. Its earnings before interest, depreciation, taxes and amortisation margins fell 2% as cement prices stayed flat and exp...
India's Shree Cement reports 15% fall in Q4 profit on rise in input costs
India's Shree Cement reports 15% fall in Q4 profit on rise in input costs
Source: Reuters
22/05/2023 7:37:53 PM
Neutral Shree Cement Ltd For Target Rs. 23,710 - Motilal Oswal Financial Services * Shree Cement (SRCM) is one of the most cost-efficient producers in the industry, owing to its various cost reduction measures such as higher use of green energy, in-house innovation to improve plant efficiency, and a freight cost policy that involves auction for better rates. * However, while other players have also caught up on cost-reduction measures, the cost/t gap between SRCM and its peers has declined to INR572/t in FY22 (INR529/t in 9MFY23) from INR838/t in FY18. We believe the co...
Neutral Shree Cement Ltd For Target Rs. 23,710 - Motilal Oswal Financial Services
Neutral Shree Cement Ltd For Target Rs. 23,710 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
26/04/2023 12:22:08 PM
Buy Shree Cement Ltd For Target Rs.24,660 - JM Financial Institutional Securities Shree Cement (SRCM) reported a healthy quarter on the revenue front as net sales came in at INR 40.7bn (+15% YoY and +8% QoQ) led by volume (+23% YoY; +8% QoQ) while realisation was flat QoQ. EBITDA was INR 7.1bn (down 14% YoY; +35% QoQ) and EBITDA / tonne stood at INR 881 / tonne (down 30% YoY; +26% QoQ). Total operating cost was steady at INR 4,185 / tonne (+1% YoY; down 4% QoQ). By FY30, SRCM envisages to reach 80MTPA capacity with capex primarily funded through internal accruals. SRCM als...
Buy Shree Cement Ltd For Target Rs.24,660 - JM Financial Institutional Securities
Buy Shree Cement Ltd For Target Rs.24,660 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities
15/03/2023 2:21:44 PM
Shree Cement, Dalmia Cement (Bharat) among successful bidders for coal mines Shree Cement and Dalmia Cement (Bharat) were among the major bidders who, on Monday, secured bids under forward e-auction of coal mines which was conducted by the government. A total of 10 coal mines were put up for forward auction, out of which Shree Cement got Datima mine in Chhattisgarh while Dalmia Cement (Bharat) secured Mandla North mine in Madhya Pradesh. CG Natural Resources Private Ltd, Rama Cement Industries Private Ltd and Orissa Metallurgical Industry Private Ltd were some o...
Shree Cement, Dalmia Cement (Bharat) among successful bidders for coal mines
Shree Cement, Dalmia Cement (Bharat) among successful bidders for coal mines
Source: IANS
28/02/2023 9:05:17 AM
Neutral Shree Cement Ltd For Target Rs.25,177 - Yes Securities In-line result; Good volume uptick and muted cost helps recover EBITDA/te Result Synopsis Shree Cement (SRCM) reported in-line revenue growth of +15% y/y on account of robust volume growth of +22% y/y, despite NSR decline of 6% y/y. EBITDA/PAT came at in Rs7.08& 2.77bn declined by 14% y/y and 44% y/y. SRCM reported EBITDA/te of Rs881 (v/s YSECe Rs890) declined by 29% y/y on account of muted cost/te increased marginally by +2% y/y. While the cost/te declined by 4% q/q mainly due to R...
Neutral Shree Cement Ltd For Target Rs.25,177 - Yes Securities
Neutral Shree Cement Ltd For Target Rs.25,177 - Yes Securities
Source: Yes Securities Ltd
10/02/2023 3:42:25 PM
India`s Shree Cements posts 44% fall in Q3 profit on high fuel costs  India's Shree Cement Ltd reported a 43.7% fall in third-quarter profit on Wednesday, missing expectations, as persistently high input and fuel costs triggered by the Russia-Ukraine war weighed on the cement sector. The Kolkata-based company posted a standalone profit of 2.77 billion Indian rupees ($33.5 million) for the quarter ended Dec. 31, compared with 4.92 billion rupees a year earlier. Analysts, on average, had expected a profit of 3.22 billion rupees, according to Refin...
India`s Shree Cements posts 44% fall in Q3 profit on high fuel costs
India`s Shree Cements posts 44% fall in Q3 profit on high fuel costs
Source: Reuters
8/02/2023 3:21:02 PM
Buy Shree Cement Ltd For Target Rs. 24,125 - JM Financial Institutional Securities Input cost pressure hurts margin Shree Cement (SRCM) reported a weak quarter on the profitability front (on expected lines) as input cost pressures impacted EBITDA margin. Net sales came in at INR 37.8bn (+18% YoY and down 10% QoQ) led by volume (+18% YoY) as realisation was flat YoY. EBITDA was INR 5.2bn (down 42% YoY; down 36% QoQ) and EBITDA / tonne contracted to INR 702 / tonne (down 51% YoY; down 36% QoQ). Total operating costs surged to INR 4,369 / tonne (+INR 716 / tonne YoY; flat Q...
Buy Shree Cement Ltd For Target Rs. 24,125 - JM Financial Institutional Securities
Buy Shree Cement Ltd For Target Rs. 24,125 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities Ltd
18/10/2022 12:38:42 PM
Neutral Shree Cement Ltd For Target Rs.21,510 - Motilal Oswal Financial Services Cost pressures and weak realization hurt Announces changes in the Board’s composition * SRCM, as expected, reported a weak 2QFY23, led by higher variable costs and weak realization. EBITDA fell 42% YoY to INR5.2b (est. INR5.4b) and EBITDA/t came in at a 28-quarter low at INR701 (est. INR770), down 51% YoY and 36% QoQ). Profit fell 67% YoY to INR1.9b (est. INR2.1b). * Changes in the Board composition: 1) Mr. B. G. Bangur will be Chairman Emeritus (earlier: Chairman); 2) Mr. H. M...
Neutral Shree Cement Ltd For Target Rs.21,510 - Motilal Oswal Financial Services
Neutral Shree Cement Ltd For Target Rs.21,510 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
17/10/2022 11:40:39 AM
India's Shree Cement Q2 profit sinks 67% as fuel expenses jump India's Shree Cement Ltd on Friday reported a 67.2% slump in second quarter profit after fuel costs surged. Standalone net profit for the quarter-ended Sept. 30 came in at 1.90 billion Indian rupees ($23.12 million), compared with 5.78 billion rupees a year ago, it said in an exchange filing. Analysts on average had expected a profit of 2.64 billion rupees, according to Refinitiv data. Revenue rose 17.9% to 37.81 billion rupees. Total expenses jumped 41.1% to 36.88 bln rupee a...
India's Shree Cement Q2 profit sinks 67% as fuel expenses jump
India's Shree Cement Q2 profit sinks 67% as fuel expenses jump
Source: IANS
14/10/2022 5:22:07 PM
Neutral Shree Cement Ltd For Target Rs.20,000 - Motilal Oswal Financial Services Unabated cost increase hurts profitability EBITDA miss of 5%; MTM loss and higher depreciation impacts profit * SRCM’s 1QFY23 earnings were below our estimate as the benefits of higher realization (6% above our estimate) was offset by higher costs (8% above our estimate). EBITDA stood at INR8.2b (est. INR8.6b) and EBITDA/t came in at INR1,091 (est. INR1,139). * Other income posted a loss of INR216m due to a MTM loss of INR961m on investments. Profit stood at INR3.2b (est. INR4....
Neutral Shree Cement Ltd For Target Rs.20,000 - Motilal Oswal Financial Services
Neutral Shree Cement Ltd For Target Rs.20,000 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
7/09/2022 4:21:49 PM
Buy Shree Cements Ltd For Target Rs.23,550 - Emkay Global Better realisation offsets higher costs * Shree Cement Limited’s (Shree) standalone Q1FY23 EBITDA declined 19% YoY/10% QoQ to Rs8.2bn, in-line with our and consensus estimates, as better-than-expected realisation balanced out higher-than-expected cost inflation. Blended EBITDA/ton declined 26% YoY/~4% QoQ to Rs1,091 (Emkay est. Rs1,085). * Shree has planned growth capex of Rs73bn over the next three years, which will be mainly for ongoing projects such as 3.5mt/3mt integrated ceme...
Buy Shree Cements Ltd For Target Rs.23,550 - Emkay Global
Buy Shree Cements Ltd For Target Rs.23,550 - Emkay Global
Source: Emkay Global Financial Services Ltd
6/09/2022 2:10:10 PM
Buy Shree Cements Ltd For Target Rs.s 23,550 - Emkay Global Financial Services Ltd Better realisation offsets higher costs * Shree Cement Limited’s (Shree) standalone Q1FY23 EBITDA declined 19% YoY/10% QoQ to Rs8.2bn, in-line with our and consensus estimates, as better-than-expected realisation balanced out higher-than-expected cost inflation. Blended EBITDA/ton declined 26% YoY/~4% QoQ to Rs1,091 (Emkay est. Rs1,085). * Shree has planned growth capex of Rs73bn over the next three years, which will be mainly for ongoing projects such as 3.5mt/3mt integrated ceme...
Buy Shree Cements Ltd For Target Rs.s 23,550 - Emkay Global Financial Services Ltd
Buy Shree Cements Ltd For Target Rs.s 23,550 - Emkay Global Financial Services Ltd
Source: Emkay Global Financial Services Ltd
1/09/2022 10:30:55 AM
India Strategy : Imminent HDFC merger overshadows upcoming NIFTY50 index change wherein Adani Enterp. is likely to replace Shree Cement By ICICI Securities Upcoming semi-annual changes to the NIFTY50 index wherein Adani Enterprises is likely to replace Shree Cement is dwarfed by the impact of the impending HDFC merger. However, the merger-related changes to the index will depend on the date of shareholders’ approval, hence no definite timelines can be indicated at this point in time. Past example of a corporate restructuring for Grasim and related index change indicates a time lag of less than one month from the date of shareholders’...
India Strategy : Imminent HDFC merger overshadows upcoming NIFTY50 index change wherein Adani Enterp. is likely to replace Shree Cement By ICICI Securities
India Strategy : Imminent HDFC merger overshadows upcoming NIFTY50 index change wherein Adani Enterp. is likely to replace Shree Cement By ICICI Securities
Source: ICICI Securities Ltd
10/08/2022 11:54:22 AM
Key News - Bajaj Finserv Ltd, Nestle India Ltd, Cipla Ltd, Shree Cement Ltd, Oil and Natural Gas Corporation Ltd, Adani Capital Ltd By ARETE Securities Key News Bajaj Finserv surges 10% after board approves 1:1 bonus, 1:5 stock split Shares of Bajaj Finserv surged 10 per cent to Rs 14,579.95 on the BSE in Thursday’s intra-day trade after the company’s board approved 1:1 bonus issue and 1:5 stock split. On July 28, 2022, the board approved sub-division of each existing equity share of face value of Rs 5 into five equity shares of face value of Rs 1 fully paid- up. The board also approved issue of one bonus equity shares of f...
Key News - Bajaj Finserv Ltd, Nestle India Ltd, Cipla Ltd, Shree Cement Ltd, Oil and Natural Gas Corporation Ltd, Adani Capital Ltd By ARETE Securities
Key News - Bajaj Finserv Ltd, Nestle India Ltd, Cipla Ltd, Shree Cement Ltd, Oil and Natural Gas Corporation Ltd, Adani Capital Ltd By ARETE Securities
Source: ARETE Securities Ltd
29/07/2022 9:31:45 AM
Shree Cement Q1 net profit down 52.31% at Rs 315.55 cr The company reported standalone net profit of Rs 315.55 crore for the quarter ended June 30, 2022 as compared to Rs 661.72 crore in the same period last year, registering a year-on-year decline of 52.31 per cent. Net revenue of the company rose substantially by 21.84 per cent at Rs 4,202.69 crore in April-June quarter of this fiscal as against Rs 3,449.49 crore in the corresponding period last year. During April-June quarter, operating expenses increased by 38.91 per cent to Rs 3,383.87 cr...
Shree Cement Q1 net profit down 52.31% at Rs 315.55 cr
Shree Cement Q1 net profit down 52.31% at Rs 315.55 cr
Source: Dion Global Solutions Ltd
28/07/2022 2:49:55 PM
Neutral Shree Cement Ltd For Target Rs.20,000 - Motilal Oswal Financial Expansions to drive balanced distribution of capacity… …and will lead to volume growth * Shree Cement (SRCM) is the third largest cement player with an installed cement capacity of 46.4mtpa as of FY22. In this note, we analyze SRCM’s FY22 Annual Report (AR). The key highlights of our analysis are as follows: a) SRCM commissioned 3mtpa grinding unit (GU) at Pune, Maharashtra in Feb’22 and 4mtpa (12,000tpd) clinker plant at Baloda Bazar, Chhattisgarh in Mar&rsquo...
Neutral Shree Cement Ltd For Target Rs.20,000 - Motilal Oswal Financial
Neutral Shree Cement Ltd For Target Rs.20,000 - Motilal Oswal Financial
Source: Motilal Oswal Financial Services Ltd
14/07/2022 12:40:03 PM
Shree Cement gains on getting nod to set up integrated cement plant in Andhra Pradesh Shree Cement is currently trading at Rs. 18161.90, up by 137.10 points or 0.76% from its previous closing of Rs. 18024.80 on the BSE. The scrip opened at Rs. 18001.00 and has touched a high and low of Rs. 18161.90 and Rs. 17900.00 respectively. So far 188 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 31441.05 on 15-Sep-2021 and a 52 week low of Rs. 17,900.00 on 20-Jun-2022. Last one week high and low of the s...
Shree Cement gains on getting nod to set up integrated cement plant in Andhra Pradesh
Shree Cement gains on getting nod to set up integrated cement plant in Andhra Pradesh
Source: Accord Fintech
20/06/2022 10:25:56 AM
Shree Cement has declared 450% Final dividend for the financial year March 2022 Shree Cements Ltd. on Monday, 23 May 2022, has announced Final dividend of 450 percent on Equity Share, to its shareholders holding shares on the register on Thursday, 14 July 2022 (Record Date). The ex-dividend date will be 13 July 2022. The last five dividends are 450% Interim dividend (Ex Date : 10 February 2022), 600% Final dividend (Ex Date : 22 July 2021), 1100% Interim dividend (Ex Date : 24 February 2020), 350% Final dividend (Ex Date : 31 July 2019) and 250% Interim dividend (Ex D...
Shree Cement has declared 450% Final dividend for the financial year March 2022
Shree Cement has declared 450% Final dividend for the financial year March 2022
Source: Accord Fintech
16/06/2022 10:51:41 AM
Shree Cement rises on starting commercial production at Clinkerisation unit in Chhattisgarh Shree Cement is currently trading at Rs. 23480.35, up by 292.30 points or 1.26% from its previous closing of Rs. 23188.05 on the BSE. The scrip opened at Rs. 23298.30 and has touched a high and low of Rs. 23742.20 and Rs. 23298.30 respectively. So far 371 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 32050.00 on 09-Apr-2021 and a 52 week low of Rs. 21667.50 on 07-Mar-2022. Last one week high and low of the sc...
Shree Cement rises on starting commercial production at Clinkerisation unit in Chhattisgarh
Shree Cement rises on starting commercial production at Clinkerisation unit in Chhattisgarh
Source: Accord Fintech
29/03/2022 2:11:21 PM
Buy Shree Cement Ltd For Target Rs.29,700 - Motilal Oswal Consistently sustaining industry leading margins Shree Cement’s (SRCM) Q3FY22 standalone EBITDA of Rs8.3bn (down 24% YoY) was marginally lower than our / consensus estimates. Blended EBITDA/te decline was restricted to 11% QoQ (and 17% YoY) to Rs1,260/te (I-Sec: Rs1,328/te), thus sustaining industry leading profitability even in a challenging quarter. Volumes declined 8.6% YoY due to lower volumes in the East region, while cement realisation likely rose ~2% QoQ (our view) owing to be...
Buy Shree Cement Ltd For Target Rs.29,700 - Motilal Oswal
Buy Shree Cement Ltd For Target Rs.29,700 - Motilal Oswal
Source: ICICI Securities Ltd
28/03/2022 2:13:33 PM
Isgec Heavy Engineering shines on bagging order from Shree Cement The scrip is currently trading at Rs. 566.00, up by 14.10 points or 2.55% from its previous closing of Rs. 551.90 on the BSE. The scrip opened at Rs. 578.00 and has touched a high and low of Rs. 578.00 and Rs. 564.45 respectively. So far 156 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 877.00 on 05-Jul-2021 and a 52 week low of Rs. 442.00 on 10-Mar-2021. Last one week high and low of the scrip stood at Rs. 57...
Isgec Heavy Engineering shines on bagging order from Shree Cement
Isgec Heavy Engineering shines on bagging order from Shree Cement
Source: Accord Fintech
9/03/2022 1:23:37 PM
Neutral Shree Cement Ltd For Target Rs.27,730 - Motilal Oswal Higher opex impairs profitability, but cost inflation easing Blended realization up 7% QoQ on higher power and trading revenues Shree Cement (SRCM)’s 3QFY22 result was in line with our estimates, though, profitability was impacted by higher operating costs. Blended realization improved 17% YoY/7% QoQ led by: a) higher power sales and b) increased trading revenues (one coal shipment was transferred to the UAE plant). The management indicated that cement realization was up 4% YoY/2%...
Neutral Shree Cement Ltd For Target Rs.27,730 - Motilal Oswal
Neutral Shree Cement Ltd For Target Rs.27,730 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
8/03/2022 2:36:52 PM
Buy Shree Cements Ltd For Target Rs.32,000 - Yes Securities Cost Pressure softened the EBITDA, but continued to remain best in Industry Result Highlights * Volume improved by 5% sequentially however, due to the higher base and demand slowdown (unseasonal rains, labour & sand shortage) led the volume declined by 8% y/y to 6.6MT (YSEC est. 6.9MT) in 3QFY22. * While the healthy blended NSR stood at Rs5,370/te (+6% q/q and +16% y/y) aided the reported revenue to Rs35.5bn (in line with YSEC est.) up by +11% q/q and +7% y/y in 3QFY22. * EBIT...
Buy Shree Cements Ltd For Target Rs.32,000 - Yes Securities
Buy Shree Cements Ltd For Target Rs.32,000 - Yes Securities
Source: Yes Securities Ltd
10/02/2022 11:15:36 AM
Shree Cement to decide on FY22 interim dividend on Feb 4 Board meet Cement producer Shree Cements, in its next Board meeting, which is now scheduled to be held on February 4, is expected to declare the interim dividend for FY22. Earlier, the Board meeting was supposed to be held on February 1, it had intimated the stock exchanges through a regulatory filing. In its latest regulatory filing on Saturday, the company said: "We would like to inform you that the above Board meeting has been rescheduled and would now be held on Friday, 4th February, 2022...
Shree Cement to decide on FY22 interim dividend on Feb 4 Board meet
Shree Cement to decide on FY22 interim dividend on Feb 4 Board meet
Source: IANS
24/01/2022 9:56:16 AM
Shree Cement shines on planning to set up Rs 1500 crore cement plant in AP Shree Cement is currently trading at Rs. 26175.50, up by 636.35 points or 2.49% from its previous closing of Rs. 25539.15 on the BSE. The scrip opened at Rs. 25565.35 and has touched a high and low of Rs. 26280.90 and Rs. 25565.35 respectively. So far 379 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 32050.00 on 09-Apr-2021 and a 52 week low of Rs. 22600.00 on 29-Jan-2021. Last one week high and low of the sc...
Shree Cement shines on planning to set up Rs 1500 crore cement plant in AP
Shree Cement shines on planning to set up Rs 1500 crore cement plant in AP
Source: Accord Fintech
21/12/2021 12:42:02 PM
Buy Shree Cement Ltd For Target Rs.33,000 - ICICI Securities Consistently sustaining industry-leading margins Shree Cement’s (SRCM) Q2FY22 standalone EBITDA of Rs9.0bn (down 11% YoY) was broadly in line with our estimates but was ahead of consensus. Blended realisation remained flat QoQ (up 8.6% YoY) despite sequential softening of prices in the East market, likely aided by better market mix and higher non-cement revenue. Total cost/te increased 2.6% QoQ (up 16.7% YoY) owing to various input cost escalations resulting in blended EBITDA/te decl...
Buy Shree Cement Ltd For Target Rs.33,000 - ICICI Securities
Buy Shree Cement Ltd For Target Rs.33,000 - ICICI Securities
Source: ICICI Securities Ltd
9/12/2021 11:02:21 AM
Neutral Shree Cement Ltd For Target Rs.28,220 - Motilal Oswal Beats estimates on lower cost and higher power revenue Raise EPS estimates on lower depreciation and higher other income * SRCM’s 2QFY22 result beat our estimate on account of: a) higher Power sales, which offset the impact of weaker Cement realization and 4% miss on volumes, and b) lower freight costs. Blended EBITDA/t declined by 4% QoQ to INR1,421/t v/s our estimate of INR1,236/t. * We broadly maintain our FY22E/FY23E/FY24E EBITDA estimate, but raise our EPS estimate by 15%/...
Neutral Shree Cement Ltd For Target Rs.28,220 - Motilal Oswal
Neutral Shree Cement Ltd For Target Rs.28,220 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
23/11/2021 11:37:39 AM
Buy Shree Cement Ltd : Stable performance; outlook remains healthy - ICICI Direct Buy Shree Cement Ltd For Target Rs.31,200 Stable performance; outlook remains healthy… About the stock: Shree Cement is the third largest cement group in India with domestic cement capacity of 43.4 MT as of FY21. In the past four years, it has diversified itself from a 100% north player to one with capacities now in Rajasthan, Uttarakhand, Bihar, Chhattisgarh, Haryana, Uttar Pradesh, Karnataka and Odisha. * It also has a presence in UAE with integrated cement capacity of 4 MT ...
Buy Shree Cement Ltd : Stable performance; outlook remains healthy - ICICI Direct
Buy Shree Cement Ltd : Stable performance; outlook remains healthy - ICICI Direct
Source: ICICI Direct
4/10/2021 9:30:17 AM
Buy Shree Cement Ltd For Target Rs.32,600 - ICICI Securities Consistent performance continues Shree Cement’s (SRCM) Q1FY22 standalone EBITDA of Rs10.1bn (up 45% YoY) was broadly in line with our and consensus estimates. Blended realisation surprised with 4.6% QoQ growth; although the same was offset with higher 5.4% QoQ cost increases. Accordingly, blended EBITDA/te was up 4% YoY and 3% QoQ to Rs1,481/te. This would be ninth consecutive quarter whereby SRCM has been consistently posting average EBITDA/te of ~Rs1,500/te; although peers have ...
Buy Shree Cement Ltd For Target Rs.32,600 - ICICI Securities
Buy Shree Cement Ltd For Target Rs.32,600 - ICICI Securities
Source: ICICI Securities
30/09/2021 10:19:54 AM
Neutral Shree Cement Ltd For Target Rs.28,550 - Motilal Oswal EBITDA in-line; lags peers in volume growth Faster volume growth needed to improve ROE and drive upside * Shree Cement (SRCM)’s 1QFY22 result was in-line, with EBITDA up 45% YoY – as higher realization was offset by disappointment on cost, leading to weaker EBITDA/t of INR1,482 (v/s our est. of INR1,552/t). Volume growth at 39% YoY, weighed by lower clinker sales, was also weaker v/s peers. * We broadly maintain our FY22E/FY23E estimates and expect a 13%/13% volume/EBITDA...
Neutral Shree Cement Ltd For Target Rs.28,550 - Motilal Oswal
Neutral Shree Cement Ltd For Target Rs.28,550 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
16/09/2021 10:17:29 AM
Buy Shree Cements Ltd For Target Rs.31,200 - Emkay Global Expansion plan announced * Shree Cement’s board has approved expansion plans to increase the company’s clinker capacity by 3.8mt and cement grinding capacity by 6.5mt. The board has also approved a proposal to set up 106MW solar capacity at a total capex of Rs48bn and it is likely to be commissioned by Mar’24. The expansion will increase the company’s domestic grinding capacity to 53mt from 43.4mt and is a part of its aim to achieve 80mt capacity by FY30 (7% CAGR). ...
Buy Shree Cements Ltd For Target Rs.31,200 - Emkay Global
Buy Shree Cements Ltd For Target Rs.31,200 - Emkay Global
Source: Emkay Global Financial Services Ltd
16/09/2021 9:08:50 AM
Accumulate Shree Cement Ltd For Target Rs.30,670 - SKP Securities Company Background Shree Cement Ltd. (Shree), promoted by Mr. H M Bangur, Managing Director, is India's third largest cement manufacturer, with ~8% market share, sold under “Shree Jung Rodhak, Bangur, Rockstrong, Roofon and Bangur Power” brands. It has total cement manufacturing capacity of 47.4 mn tpa (mtpa) spread across North (~51%), East (~30%), Central (~4%) and South (~6%) India and UAE (~8%) and co-generation power capacity of ~750 MW including ~242 MW from waste hea...
Accumulate Shree Cement Ltd For Target Rs.30,670 - SKP Securities
Accumulate Shree Cement Ltd For Target Rs.30,670 - SKP Securities
Source: SKP Securities Ltd
14/08/2021 11:11:15 AM
Shree Cement falls despite reporting 91% rise in Q1 consolidated net profit Shree Cement is currently trading at Rs. 27299.95, down by 986.80 points or 3.49% from its previous closing of Rs. 28286.75 on the BSE. The scrip opened at Rs. 28427.60 and has touched a high and low of Rs. 28427.60 and Rs. 27200.00 respectively. So far 2535 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 32050.00 on 09-Apr-2021 and a 52 week low of Rs. 18214.40 on 24-Sep-2020. Last one week high and low of the...
Shree Cement falls despite reporting 91% rise in Q1 consolidated net profit
Shree Cement falls despite reporting 91% rise in Q1 consolidated net profit
Source: Accord Fintech
10/08/2021 12:17:38 PM
Buy Shree Cement Ltd For Target Rs. 30,000 - ICICI Direct Maintains industry leading efficiency… The key positive trend during the quarter was Shree Cement (SCL) reporting industry leading margins at ~30% (vs. I-direct estimate: 28.5%) despite a rise in cost of production (up 8% YoY) on account of higher freight and other costs and rise in employee costs due to increments. EBITDA grew 9.1% YoY (8.1% QoQ) to | 1177.2 crore, led by improved sales volume (up 19% YoY to 8.22 MT) and better realisations. Further, the company managed to keep pro...
Buy Shree Cement Ltd For Target Rs. 30,000 - ICICI Direct
Buy Shree Cement Ltd For Target Rs. 30,000 - ICICI Direct
Source: ICICI Direct
17/06/2021 10:24:36 AM
Buy Shree Cement Ltd For Target Rs. 31,800 - ICICI Securities Sustaining industry-leading margins Shree Cement’s (SRCM) Q4FY21 standalone EBITDA (adjusted for higher employee costs pertaining to 9MFY21) of Rs12.3bn (up 14% YoY) was broadly in line with our and consensus estimates. While blended realisation surprised with 4% QoQ increase and may likely include higher power sales, it was offset by higher other expenses. Volumes increased 19% YoY while blended EBITDA/te declined 4% YoY (flat QoQ) to industry-leading level of Rs1,501/te – ...
Buy Shree Cement Ltd For Target Rs. 31,800 - ICICI Securities
Buy Shree Cement Ltd For Target Rs. 31,800 - ICICI Securities
Source: ICICI Securities Ltd
17/06/2021 9:39:46 AM
Neutral Shree Cement Ltd For Target Rs. 27,275 - Motilal Oswal EBITDA in-line, volume growth lags peers Faster volume growth needed to improve ROE and drive upside * Shree Cement (SRCM)’s 4QFY21 result was in-line, with EBITDA up just 9% YoY – as higher realization was offset by disappointment on cost, leading to weaker EBITDA/t of INR1,433 (-8% YoY). Volume growth at 19% YoY, weighed by lower clinker sales, was also weaker than peers. * We broadly maintain our FY22/FY23E estimates and expect volumes/EBITDA to post a 12%/15% CAGR ove...
Neutral Shree Cement Ltd For Target Rs. 27,275 - Motilal Oswal
Neutral Shree Cement Ltd For Target Rs. 27,275 - Motilal Oswal
Source: Motilal Oswal Financial Service
16/06/2021 10:03:17 AM
Neutral Shree Cement Ltd For Target Rs.24,300 - Motilal Oswal Delivering well on volume growth RoE to decline on slower capacity growth and cash pile-up * Shree Cement (SRCM) reported a strong 3QFY21 result, with EBITDA growing 28% YoY to INR10.9b, led by above-industry volume growth of 15% YoY. * While we expect volume growth over the next two years to track the industry at a 10% CAGR, we expect stock underperformance to continue as new capacity additions are slower than anticipated, diluting ROE. * We lower our FY21/FY22 EBITDA estimate ...
Neutral Shree Cement Ltd For Target Rs.24,300 - Motilal Oswal
Neutral Shree Cement Ltd For Target Rs.24,300 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
2/02/2021 10:17:45 AM