Shree Cement Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Cement: 93.2% • Power: 4.6% • Other Operating Revenue: 1.7%
AI Sector View
AI GENERATEDConstruction Materials
Construction materials remain supported by healthy building activity. Core industries cement growth accelerated to 13.1% YoY (2026-07), while finished steel consumption was 8.0% YoY (2026-06); steel output itself was softer at 2.9% YoY (2026-07). FPI positioning is still mildly negative at INR -497 crore over 3 months to 2026-08-31, but the fundamental demand backdrop remains constructive.
PROS
- Company is almost debt free
- Company has consistently been profitable over the last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.29x)
- Company has been maintaining a healthy dividend payout of 31.0%
- Company has a consistent dividend-paying track record
- Company comfortably covers its interest (11.8x coverage)
CONS
- Recent results are weak - TTM profit is down 32.9% versus prior year
- Receivables are growing faster than sales - a possible quality concern
- A large part of profit comes from other income (29.0% of PBT)
- Company has a low return on equity of 8.4% over last 3 years
- Company has a low return on capital employed of 10.8%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ULTRACEMCO | 10896.00 | 37.60 | 321082.42 | 2.20 | 2603.72 | 17.24 | 24648.20 | 15.85 | 13.25 | 20.35 |
| AMBUJACEM | 396.05 | 22.49 | 98411.18 | 0.51 | 660.00 | -31.93 | 9500.00 | -7.67 | 6.24 | 16.78 |
| SHREECEM | 22911.30 | 50.71 | 82665.68 | 0.65 | 531.12 | -17.48 | 6233.13 | 18.03 | 10.61 | 20.41 |
| JKCEMENT | 4989.80 | 40.78 | 38555.31 | 0.40 | 274.62 | -15.31 | 4031.72 | 20.26 | 14.89 | 16.07 |
| DALBHARAT | 1734.10 | 34.86 | 32525.81 | 0.52 | 192.00 | -51.39 | 3890.00 | 6.99 | 8.15 | 20.69 |
| ACC | 1257.80 | 12.37 | 23619.88 | 0.60 | 147.00 | -60.84 | 5808.00 | -4.59 | 11.60 | 7.90 |
| RAMCOCEM | 865.45 | 31.71 | 20449.92 | 0.29 | 31.24 | -63.06 | 2273.05 | 9.60 | 10.75 | 13.49 |
| JSWCEMENT | 120.85 | 21.67 | 16476.27 | 0.41 | 153.43 | 111.23 | 1896.41 | 21.58 | -4.21 | 16.41 |
| NUVOCO | 335.15 | 31.01 | 11970.09 | 0.00 | 159.63 | 19.88 | 3128.71 | 8.91 | 7.11 | 18.16 |
| INDIACEM | 351.65 | 117.82 | 10897.54 | 0.00 | 26.85 | 120.20 | 1019.42 | -0.52 | 0.30 | 15.28 |
| STARCEMENT | 191.50 | 20.94 | 7740.05 | 0.52 | 73.91 | -24.71 | 942.89 | 3.39 | 8.42 | 20.63 |
| BIRLACORPN | 836.25 | 11.63 | 6439.57 | 1.49 | 115.73 | -3.21 | 2646.45 | 7.83 | 10.88 | 12.93 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 5,036 | 4,774 | 5,193 | 5,401 | 5,124 | 4,054 | 4,573 | 5,532 | 5,281 | 4,761 | 4,801 | 6,101 | 6,233 | |
| 4,091 | 3,888 | 3,930 | 3,979 | 4,197 | 3,441 | 3,608 | 4,103 | 3,948 | 3,787 | 3,853 | 4,717 | 5,704 | |
| Operating Profit | 945 | 886 | 1,264 | 1,422 | 927 | 613 | 965 | 1,429 | 1,333 | 974 | 947 | 1,384 | 529 |
| OPM % | 18.76% | 18.56% | 24.34% | 26.33% | 18.09% | 15.13% | 21.10% | 25.82% | 25.23% | 20.46% | 19.73% | 22.68% | 8.49% |
| 169 | 132 | 147 | 150 | 139 | 181 | 111 | 158 | 235 | 179 | 146 | 101 | 212 | |
| Interest | 74 | 67 | 55 | 62 | 56 | 56 | 52 | 41 | 46 | 51 | 59 | 56 | 57 |
| Depreciation | 339 | 412 | 444 | 702 | 704 | 716 | 799 | 788 | 654 | 668 | 710 | 762 | 686 |
| Profit before Tax | 700 | 539 | 913 | 807 | 306 | 23 | 225 | 758 | 868 | 434 | 324 | 667 | 741 |
| Tax % | 18.32% | 17.18% | 23.10% | 16.27% | 8.96% | -229.21% | 13.79% | 24.11% | 25.89% | 28.55% | 17.38% | 20.90% | 28.33% |
| Net Profit | 0 | 0 | 0 | 0 | 278 | 77 | 194 | 575 | 644 | 310 | 268 | 528 | 531 |
| 158.62 | 123.78 | 194.54 | 187.04 | 77.22 | 21.18 | 53.61 | 159.17 | 178.12 | 85.50 | 73.92 | 145.70 | 146.67 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 8,487 | 9,833 | 12,555 | 12,868 | 13,560 | 15,010 | 17,852 | 20,404 | 19,283 | 20,943 | 21,896 | |
| 6,120 | 7,360 | 9,761 | 9,113 | 9,480 | 11,304 | 14,904 | 15,912 | 15,355 | 16,310 | 18,061 | |
| Operating Profit | 2,367 | 2,473 | 2,794 | 3,756 | 4,079 | 3,705 | 2,948 | 4,492 | 3,928 | 4,633 | 3,835 |
| OPM % | 27.89% | 25.15% | 22.25% | 29.19% | 30.08% | 24.69% | 16.52% | 22.01% | 20.37% | 22.12% | 17.51% |
| 508 | 389 | 72 | 278 | 438 | 549 | 470 | 623 | 595 | 665 | 637 | |
| Interest | 129 | 135 | 248 | 291 | 251 | 216 | 263 | 258 | 205 | 212 | 223 |
| Depreciation | 1,215 | 899 | 1,472 | 1,808 | 1,262 | 1,146 | 1,661 | 1,897 | 3,007 | 2,794 | 2,826 |
| Profit before Tax | 1,531 | 1,827 | 1,146 | 1,934 | 3,004 | 2,892 | 1,495 | 2,959 | 1,312 | 2,293 | 2,166 |
| Tax % | 12.52% | 24.24% | 11.40% | 20.17% | 23.78% | 19.20% | 15.11% | 19.03% | 14.31% | 23.74% | 24.45% |
| Net Profit | 1,339 | 1,384 | 1,015 | 1,544 | 2,290 | 2,337 | 1,269 | 2,396 | 1,124 | 1,749 | 1,636 |
| EPS | 384.38 | 397.32 | 288.88 | 435.35 | 633.54 | 646.31 | 352.18 | 664.00 | 311.19 | 483.25 | — |
| Dividend Payout % | 36.43% | 12.59% | 20.77% | 25.84% | 9.47% | 13.92% | 28.39% | 15.81% | 35.35% | 31.04% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 14%
- 5 Years:
- 9%
- 3 Years:
- 5%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 4%
- 5 Years:
- -5%
- 3 Years:
- 11%
STOCK PRICE CAGR
- 10 Years:
- 3%
- 5 Years:
- -6%
- 3 Years:
- -4%
- 1 Year:
- -24%
RETURN ON EQUITY
- 10 Years:
- 12%
- 5 Years:
- 9%
- 3 Years:
- 8%
- Last Year:
- 8%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 35 | 35 | 35 | 36 | 36 | 36 | 36 | 36 | 36 | 36 |
| Minority Interest | 0 | 0 | 62 | 69 | 51 | 50 | 41 | 41 | 41 | 47 |
| 7,663 | 8,862 | 9,636 | 13,133 | 15,361 | 17,424 | 18,600 | 20,667 | 21,502 | 23,231 | |
| 2,245 | 4,465 | 4,095 | 4,162 | 2,392 | 2,238 | 2,850 | 1,498 | 1,186 | 1,970 | |
| Trade Payables | 352 | 727 | 538 | 658 | 883 | 890 | 1,196 | 1,214 | 1,361 | 1,622 |
| 363 | 540 | 514 | 1,142 | 2,003 | 2,436 | 2,929 | 3,839 | 3,563 | 3,764 | |
| Total Liabilities | 10,658 | 14,629 | 14,880 | 19,200 | 20,727 | 23,074 | 25,652 | 27,295 | 27,688 | 30,670 |
| 2,599 | 3,589 | 6,182 | 6,163 | 6,216 | 7,282 | 7,481 | 9,591 | 9,315 | 11,207 | |
| Capital Work in Progress | 710 | 1,427 | 1,129 | 1,197 | 997 | 1,054 | 2,797 | 1,930 | 3,796 | 1,466 |
| 4,042 | 5,434 | 2,286 | 6,358 | 8,500 | 9,033 | 8,683 | 7,556 | 7,849 | 10,272 | |
| 1,314 | 1,569 | 1,870 | 1,713 | 1,716 | 2,497 | 2,760 | 3,555 | 2,444 | 2,774 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,287 | 1,401 | 1,827 | |
| Cash & Bank | 111 | 121 | 439 | 614 | 708 | 290 | 161 | 422 | 294 | 342 |
| 1,881 | 2,488 | 2,974 | 3,155 | 2,590 | 2,919 | 3,770 | 2,956 | 2,589 | 2,782 | |
| Total Assets | 10,658 | 14,629 | 14,880 | 19,200 | 20,727 | 23,074 | 25,652 | 27,295 | 27,688 | 30,670 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2,491 | 2,386 | 2,310 | 4,459 | 4,999 | 2,869 | 2,902 | 3,347 | 4,920 | 3,794 | |
| Cash from Investing | -2,048 | -3,595 | -722 | -5,599 | -2,645 | -2,151 | -2,414 | -1,418 | -3,728 | -3,740 |
| Cash from Financing | -167 | 1,726 | -1,276 | 1,581 | -1,233 | -849 | -277 | -1,710 | -1,296 | -110 |
| -13 | 10 | 83 | -44 | 376 | -333 | -122 | 219 | -104 | -55 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-07 - SHREE CEMENT LIMITED has informed the Exchange about Credit Rating
2026-09-04 - SHREE CEMENT LIMITED has informed the Exchange about Credit Rating
2026-08-20 - SHREE CEMENT LIMITED has informed the Exchange regarding ESG Ratings by CRISIL ESG Ratings & Analytics Limited.
2026-08-06 - SHREE CEMENT LIMITED has informed the Exchange about Transcript
2026-08-03 - SHREE CEMENT LIMITED has informed the Exchange regarding Demise of Mr Ashok Bhandari, Other of the company on August 03, 2026.
2026-08-01 - SHREE CEMENT LIMITED has informed the Exchange regarding voting results of Annual General Meeting held on July 31, 2026
2026-08-01 - SHREE CEMENT LIMITED has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on July 31, 2026
2026-08-01 - SHREE CEMENT LIMITED has informed the Exchange about Copy of Newspaper Publication
2026-07-31 - SHREE CEMENT LIMITED has informed the Exchange about Link of Recording
News
Recent coverage and analyst commentary for SHREECEM
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