Buy Shree Cement; target of Rs 29,250: KR Choksey

KR Choksey is bullish on Shree Cement has recommended buy rating on the stock with a target price of Rs 29,250 in its research report dated July 29, 2023.

Broker Research

July 31, 2023 / 14:33 IST

Buy

26 Aug, 2025 12:21

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KR Choksey's research report on Shree Cement

Shree Cement Ltd revenue for Q1FY24 stood at INR 50,648 mn, registering a growth of 14.72% on a YoY basis from INR 44,149 mn and on a sequential basis it declined marginally by 0.69% from INR 51,002 mn. EBITDA for the quarter came at INR 9,449 mn, registering a growth of 17.97% on a YoY basis from INR 8,010 and on a QoQ basis it improved by 6.24% from INR 8,894 mn. PAT for Q1FY24 stood at INR 5,719 mn, which improved by 105.06% YoY from INR 2,789 mn and on a sequential basis it grew by 8.85% from INR 5,252 mn. PAT margin stood at 11.29%, which improved by 497 bps o a YoY basis and 99 bps sequential basis. EPS for the quarter came at INR 158.62 as against INR 77.47 YoY and 145.72 QoQ.

Outlook

We continue to value the stock at an EV/EBITDA multiple of 21x on FY25E estimates, which yield a target price of INR 29,250, giving an upside potential of 21.6% from the CMP.

For all recommendations report, click here