Sharekhan's research repor on Shree Cement
In Q2FY2021, Shree Cement reported strong operational profitability led by reduction in operating expenses leading to strong beat on operating profit and net profit. Expect 7-8% volume growth for FY2021 excluding April 2021. Demand emanating from rural and semi-urban centers along with a pickup in government led infrastructure demand brightens outlook going ahead. Revisiting its medium to long term capacity expansion plans to reach 57MTPA over three years and 80MTPA over six-seven years.
Outlook
We retain our Buy rating on Shree Cement Limited (Shree Cement) with a revised PT of Rs. 27,000, as we factor in upwardly revised estimates and expect it to report industry leading growth led by rising capacity utlisation.
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