Buy Shree Cement; target of Rs 24,000: Sharekhan

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26 Aug, 2025 12:21

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Sharekhan's research report on Shree Cement

In Q2FY2023, standalone performance was affected by lower-than-expected blended realisations, higher depreciation and interest expenses, while cement sales volume remained in-line. Management expects more than 10% y-o-y rise in sales volume for FY2023 on the back of strong H1 and strong cement demand. The company’s 9.5 mtpa cement capacity addition plan by December 2024 remain intact while it remains committed to reach 80 mtpa by 2030.

Outlook

We retain a Buy on Shree Cement with an unchanged PT of Rs. 24,000, considering it to outperform industry growth over FY2023E-FY2025E led by improving capacity utilisation and addition of newer capacities.

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Shree Cement - 171022 - khan