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Add Shree Cement Ltd For Target Rs. 25,562 By Centrum Broking Ltd Results marginally lower than estimates; Capex on track Shree Cements (SRCM) reported results which were only marginally lower than our expectations. Volumes de-grew 7.3% YoY while realizations fell 2.2% QoQ and as a result, revenue declined by 19% YoY. EBITDA at Rs5.9bn was down 32% YoY and 5% below our estimates. Management highlighted that its strategy of value over volumes and increased premium cement sales (15% of trade sales) resulted in minimizing the fall in realizations. Company&r...
Add Shree Cement Ltd For Target Rs. 25,562 By Centrum Broking Ltd
Add Shree Cement Ltd For Target Rs. 25,562 By Centrum Broking Ltd
Source: Centrum Broking Ltd
2024-11-13 02:34:17 pm
Hold Shree Cement Ltd For Target Rs. 26,186 By Choice Broking Ltd Shree Cement Ltd reported Q2FY25 volumes came in at 7.6mnt, marking a decrease of 7.3% YoY and 21.2% QoQ. The volume is impacted mainly due to extended monsoon and muted infra spends by Govt, resulting in revenues of INR37,270mn, a decline of 18.3% YoY and 22.9% QoQ. The revenue drop was primarily due to lower volume. The EBITDA/t for the quarter was INR780/t, down 26.5% YoY and 18.0% QoQ, largely impacted by lower demand and higher employee expenses. The PAT for the quarter was INR931mn, a d...
Hold Shree Cement Ltd For Target Rs. 26,186 By Choice Broking Ltd
Hold Shree Cement Ltd For Target Rs. 26,186 By Choice Broking Ltd
Source: Choice Broking
2024-11-13 02:06:50 pm
Neutral Shree Cement Ltd For Target Rs. 27,500 By Motilal Oswal Financial Services Ltd Subdued performance as geo-mix change hurts Expects volume growth to be in line with the industry in FY25 * Shree Cement (SRCM)’s 1QFY25 EBITDA was significantly below our estimate, primarily due to a lower-than-estimated realization (6% miss). EBITDA was down 2% YoY to INR9.2b (est. INR11.8b) and EBITDA/t stood at INR951 (est. INR1,239). OPM was flat at 19% (est. 23%). PAT declined 45% YoY to INR3.2b (est. INR5.4b). * Management indicated that cement demand would remain weak ...
Neutral Shree Cement Ltd For Target Rs. 27,500 By Motilal Oswal Financial Services Ltd
Neutral Shree Cement Ltd For Target Rs. 27,500 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-08-22 04:29:15 pm
Sell Shree Cement Ltd For Target Rs.24,765 By Choice Broking Ltd Shree Cement Ltd reported Q1FY25 volumes of 9.6mnt, marking an increase of 1.2% QoQ and 8.3% YoY. Despite weak demand due to the general election and monsoon, the company achieved positive volume growth, resulting in revenues of INR48,347mn, a decline of 4.7% QoQ and 2.7% YoY. The revenue drop was primarily due to weak pricing. Shree Cement Ltd. capacity utilization for Q1FY25 stood at 76%. The EBITDA/t for the quarter was INR951/t, down 31.7% QoQ and 9.3% YoY, largely driven by higher freigh...
Sell Shree Cement Ltd For Target Rs.24,765 By Choice Broking Ltd
Sell Shree Cement Ltd For Target Rs.24,765 By Choice Broking Ltd
Source: Choice Broking
2024-08-11 03:52:11 pm
India Cements posts wider Q1 loss as subdued demand adds to pricing woes India Cements, in which market leader UltraTech Cement is taking majority control, posted a bigger first-quarter adjusted loss on Friday, hurt by subdued demand. The South India-focused company's loss before exceptional items and tax increased to 1.62 billion rupees ($19.3 million) in the quarter, from 989.1 million rupees a year ago. The company said the latest quarter included an exceptional income of 2.41 billion rupees from the sale of a grinding unit. Excluding that, India C...
India Cements posts wider Q1 loss as subdued demand adds to pricing woes
India Cements posts wider Q1 loss as subdued demand adds to pricing woes
Source: Reuters
2024-08-09 01:44:13 pm
India's Shree Cement Q1 earnings misses estimates Shree Cement, India's third-largest cement maker by market capitalisation, reported on Tuesday a first-quarter profit that missed estimates due to lower demand and prices. The company said its profit for the quarter ended June 30 stood at 3.18 billion rupees ($37.9 million), missing analysts' estimates of 5.25 billion rupees, per LSEG data. Its revenue from operations fell 2% to 48.35 billion rupees, also missing estimates. For further highlights, click : (Full story) KEY ...
India's Shree Cement Q1 earnings misses estimates
India's Shree Cement Q1 earnings misses estimates
Source: Accord Fintech
2024-08-06 04:47:44 pm
Add Shree Cement Ltd For Target Rs. 29,500 By Emkay Global Financial Services Sustaining margin leadership; upgrade to ADD Shree Cement’s Q4FY24 EBITDA was a strong beat on our/consensus estimates by 14-22%, mainly led by better-than-expected blended realizations and lower cost. EBITDA grew 49% YoY/8% QoQ to Rs13.3bn (Emkay est: Rs11bn) with EBITDA/t improving marginally QoQ to Rs1,393 (industry leading). Shree is one of the few companies (along with Birla Corp and Orient Cement) with a rising EBITDA/t vs industry profitability, which declined by an average of...
Add Shree Cement Ltd For Target Rs. 29,500 By Emkay Global Financial Services
Add Shree Cement Ltd For Target Rs. 29,500 By Emkay Global Financial Services
Source: Emkay Global Financial Services
2024-07-09 12:48:25 pm
Neutral Shree Cement Ltd. For Target Rs.28,000 - Motilal Oswal Financial Services Strong performance; focusing on cost optimization Plans to increase grinding capacity to 65.8mtpa by Mar’25 * SRCM’s earnings beat our estimates in 4QFY24, aided by lower costs and higher power revenues. EBITDA grew 49% YoY to INR13.3b (est. INR11.5b) and EBITDA/t stood at INR1,393 (est. INR1,218). OPM surged 7.4pp YoY to 26% (est. 23%). PAT grew 69% YoY to INR6.6b (est. INR5.7b). * The management notes that cost reduction is the focus area and that it will continue to inves...
Neutral Shree Cement Ltd. For Target Rs.28,000 - Motilal Oswal Financial Services
Neutral Shree Cement Ltd. For Target Rs.28,000 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
2024-06-28 02:17:34 pm
Buy Shree Cement Ltd. For Target Rs.27,055 By Choice Broking Ltd Shree Cement Ltd Q4FY24 volumes came at INR9.5mnt, up 7.1% QoQ and 7.9% YoY, leading to INR51,010mn in revenues, up 4.1% QoQ and 6.6% YoY. For the full year FY24 consolidated volume came at INR35.5mnt, up 11.5% YoY. Company reported full year revenue at INR195.8bn, up 16.3% YoY. Shree Cement Ltd had achieved 77% utilization for FY24 vs 70% in FY23. EBITDA/t for the quarter came at INR1,393/t, up 0.5% QoQ and 37.8% YoY. The YoY spike in EBITDA/t was mainly led by lower power and fuel cost. PAT...
Buy Shree Cement Ltd. For Target Rs.27,055 By Choice Broking Ltd
Buy Shree Cement Ltd. For Target Rs.27,055 By Choice Broking Ltd
Source: Choice Broking
2024-05-20 10:39:17 am
Neutra Shree Cement Ltd For Target Rs.27,700 By Motilal Oswal Financial Services Ltd Expanding footprint largely in existing markets Focus shift on improving brand equity * Shree Cement (SRCM) has been consistent in capacity expansion (mostly through organic routes), with a capacity CAGR of ~12% over FY14-24. The company plans to increase its grinding capacity organically at a similar CAGR over FY24-27E to reach 65mtpa/75mtpa by FY26E/FY27E. However, most of these expansions will focus on its existing markets and a large part of Central and West regions will remain unta...
Neutra Shree Cement Ltd For Target Rs.27,700 By Motilal Oswal Financial Services Ltd
Neutra Shree Cement Ltd For Target Rs.27,700 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-05-17 09:07:06 am
Shree Cement inches up on inking asset purchase agreement with Starcrete Shree Cement is currently trading at Rs. 25027.35, up by 84.85 points or 0.34% from its previous closing of Rs. 24942.50 on the BSE. The scrip opened at Rs. 24986.80 and has touched a high and low of Rs. 25485.85 and Rs. 24942.45 respectively. So far 171 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 30710.15 on 01-Feb-2024 and a 52 week low of Rs. 22601.30 on 26-Jun-2023. Last one week high and low of the scr...
Shree Cement inches up on inking asset purchase agreement with Starcrete
Shree Cement inches up on inking asset purchase agreement with Starcrete
Source: Accord Fintech
2024-03-13 09:48:31 am
India`s thermal coal imports seen falling for first time since pandemic India's thermal coal imports are expected to fall for the first time this year since the COVID-19 pandemic due to increasing domestic output and record high inventories, industry officials said on Tuesday. Out of eleven coal traders Reuters spoke with at the Coaltrans India conference in the western state of Goa, eight expected shipments of the fuel to decrease this year, while the others foresaw flat imports or marginal growth. Surging production and supplies by world's largest...
India`s thermal coal imports seen falling for first time since pandemic
India`s thermal coal imports seen falling for first time since pandemic
Source: Reuters
2024-02-27 04:00:26 pm
Shree Cement receives Income Tax demand of Rs 261 crore Shree Cement has received an assessment order against the demand of Rs 261.88 crore from the Income Tax department. The company has received assessment order on February 24 passed under section 143(3) of Income Tax Act, 1961, pertaining to AY 2021- 22, wherein certain additions/ disallowances have been made. "Company has noticed prima facie errors i.e. 'mistake apparent from record', in the said order," Shree Cement said. "The Company is in the process of filin...
Shree Cement receives Income Tax demand of Rs 261 crore
Shree Cement receives Income Tax demand of Rs 261 crore
Source: IANS
2024-02-26 09:09:30 am
India`s JK Lakshmi Cement reports 69% jump in Q3 profit India's JK Lakshmi Cement reported a 69% rise in third-quarter profit on Thursday on healthy demand and higher prices. The company, the construction materials arm of JK Group, said net profit after tax rose to 1.24 billion rupees (around $15 mln) for the quarter ended Dec. 31, from 735.9 million rupees a year earlier. Revenue from operations rose 6.6% to 15.86 billion rupees. Power and fuel costs, JK Lakshmi's biggest expense, fell around 25%. For more details, KEY CONTEXT...
India`s JK Lakshmi Cement reports 69% jump in Q3 profit
India`s JK Lakshmi Cement reports 69% jump in Q3 profit
Source: Reuters
2024-02-09 11:18:09 am
Shree Cement shares crash amid reports of Rs 4,000 crore tax demand The shares of Shree Cement crashed on Friday amid reports that the Income Tax (I-T) Department has firmed up a Rs 4,000 crore tax demand against the company. The company's shares were trading 4.36 per cent lower at Rs 27,099.9 per share on BSE at 2 p.m. on Friday. I-T officials had carried out a survey of the company’s premises in June last year at which point also the company’s shares had plunged in the stock markets. The tax demand is reported to be a sequel to the ...
Shree Cement shares crash amid reports of Rs 4,000 crore tax demand
Shree Cement shares crash amid reports of Rs 4,000 crore tax demand
Source: IANS
2024-01-05 04:45:45 pm
Shree Cement rises on commissioning largest Kiln with capacity of 11,500 tonnes per day Shree Cement is currently trading at Rs. 28730.00, up by 180.15 points or 0.63% from its previous closing of Rs. 28549.85 on the BSE. The scrip opened at Rs. 28661.30 and has touched a high and low of Rs. 28780.90 and Rs. 28470.00 respectively.  The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 28943.95 on 13-Dec-2023 and a 52 week low of Rs. 21433.25 on 27-Jan-2023. Last one week high and low of the scrip stood at Rs. 28943.95 and Rs. 27558....
Shree Cement rises on commissioning largest Kiln with capacity of 11,500 tonnes per day
Shree Cement rises on commissioning largest Kiln with capacity of 11,500 tonnes per day
Source: Accord Fintech
2023-12-14 02:48:51 pm
Shree Cement plans to bid in India's lithium auction - source  India's Shree Cement plans to bid for lithium mining rights under a government plan to secure critical minerals production through auctions that are expected to raise more than $5 billion. A source with direct knowledge of the matter told Reuters the company would apply for the rights to lithium mining blocks in Jammu and Kashmir, the federally administered region where an estimated 5.9 million tonnes of deposits were found in February. Shree Cement, India's second biggest ce...
Shree Cement plans to bid in India's lithium auction - source
Shree Cement plans to bid in India's lithium auction - source
Source: Reuters
2023-12-06 05:36:03 pm
Hold Shree Cements Ltd For Target Rs.25,500 - Emkay Global Financial Services Shree Cement (Shree)’s Q2FY24 standalone EBITDA at Rs8.7bn came broadly in line with Consensus estimates. Blended EBITDA/t was up 51% YoY at Rs1,062. The company has announced a new brownfield expansion of 3.4mt cement capacity in Chhattisgarh, at a capex of Rs5.5bn (USD20/t), to be commissioned by Sep-25. Accordingly, with the ongoing expansion, Shree’s domestic capacity is likely to rise to 72mt by FY26. Company is accelerating its growth plans and targeting to reach 80mt capaci...
Hold Shree Cements Ltd For Target Rs.25,500 - Emkay Global Financial Services
Hold Shree Cements Ltd For Target Rs.25,500 - Emkay Global Financial Services
Source: Emkay Global Financial Services
2023-11-29 11:57:40 am
Sell Shree Cements Ltd For Target Rs.23,560 - Centrum Broking Ltd Results in-line, capex largely on track Shree cements (SRCM) reported results in-line with our estimates with EBITDA of Rs8.7bn up 66% YoY. While both revenue and EBITDA were in-line, volumes were tad lower compared to our expectations offset by better realizations. Power segment sales distort the true picture of cement realizations and EBITDA given the volatility in revenue/EBITDA of this segment (the company has discontinued giving power segment data separately). Adjusted for Power EBITD...
Sell Shree Cements Ltd For Target Rs.23,560 - Centrum Broking Ltd
Sell Shree Cements Ltd For Target Rs.23,560 - Centrum Broking Ltd
Source: Centrum Broking Limited
2023-11-14 12:09:43 pm
Neutral Shree Cements Ltd For Target Rs.27,490 - Choice Broking Ltd Shree Cement Ltd. Q2FY24 sales volume came at INR8.2mnt, down 7.9% QoQ but up 9.3% YoY. The company has an aspiration to achieve the installed cement capacity to 80mnt by FY28E. Q2FY24 revenue came at INR45,847 mn, down 8.3% QoQ but up 21.3% YoY. EBITDA/t for the quarter came at INR1,062, up 1.3% QoQ and 52.2% YoY, led by a decline in RM Cost (11.0%) on a sequential basis. Consequently, blended realization during Q2 came at INR5,591, down 0.5% QoQ but up 10.9% YoY. PAT for the quarter came at...
Neutral Shree Cements Ltd For Target Rs.27,490 - Choice Broking Ltd
Neutral Shree Cements Ltd For Target Rs.27,490 - Choice Broking Ltd
Source: Choice Broking
2023-11-09 01:19:49 pm
India's Shree Cement beats Q2 profit view on strong infra demand India's Shree Cement reported a bigger-than-expected rise in second-quarter profit on Tuesday, boosted by strong infrastructure demand ahead of elections. The company's profit more than doubled to 4.91 billion rupees ($59.00 million) for the three months ended Sept. 30 from 1.90 billion rupees a year earlier. Analysts, on average, had estimated a profit of 4.67 billion rupees, according to LSEG data. India, the world's second-largest cement producer, has seen most of its ...
India's Shree Cement beats Q2 profit view on strong infra demand
India's Shree Cement beats Q2 profit view on strong infra demand
Source: Reuters
2023-11-08 10:54:07 am
Shree Cement surges on getting nod to raise funds up to Rs 700 crore via NCDs Shree Cement is currently trading at Rs. 26002.40, up by 162.60 points or 0.63% from its previous closing of Rs. 25839.80 on the BSE.The scrip opened at Rs. 26034.95 and has touched a high and low of Rs. 26253.30 and Rs. 25935.60 respectively. So far 282 shares were traded on the counter.The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 27100.00 on 15-Sep-2023 and a 52 week low of Rs. 20165.80 on 17-Oct-2022.Last one week high and low of the scrip stood at Rs. 264...
Shree Cement surges on getting nod to raise funds up to Rs 700 crore via NCDs
Shree Cement surges on getting nod to raise funds up to Rs 700 crore via NCDs
Source: Accord Fintech
2023-09-26 04:33:17 pm
Shree Cement gains on planning to raise funds up to Rs 700 crore via NCDs Shree Cement is currently trading at Rs. 26248.95, up by 138.70 points or 0.53% from its previous closing of Rs. 26110.25 on the BSE.The scrip opened at Rs. 26102.35 and has touched a high and low of Rs. 26248.95 and Rs. 25938.15 respectively. So far 212 shares were traded on the counter.The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 27100.00 on 15-Sep-2023 and a 52 week low of Rs. 20165.80 on 17-Oct-2022.Last one week high and low of the scrip stood at Rs. 271...
Shree Cement gains on planning to raise funds up to Rs 700 crore via NCDs
Shree Cement gains on planning to raise funds up to Rs 700 crore via NCDs
Source: Accord Fintech
2023-09-21 11:02:41am