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    Buy Shree Cement; target of Rs 34,000: Sharekhan

    Sharekhan is bullish on Shree Cement has recommended buy rating on the stock with a target price of Rs 34,000 in its research report dated January 31, 2024.
    Broker Research
    February 06, 2024 / 10:51 IST
    Buy

    Sharekhan's research report on Shree Cement

    In Q3FY2024, the company reported a strong operational beat led by lower-than-expected opex/tonne, mainly owing to lower P&F and freight costs. Management retained 12% y-o-y volume growth guidance for FY2024 and targets ~15% y-o-y volume growth for FY2025. For Q4, it is expected to benefit from higher utilisations and a lower operating cost structure. Capacity expansion plans remain on track to reach 56 MTPA and 75 MTPA by FY2024 and FY2027, respectively. It would incur Rs. 12,500 crore capex over the next three years.

    Outlook

    We upgrade Shree Cement to Buy with a revised PT of Rs. 34,000, rolling forward our valuation multiple to FY2026E earnings and factoring upwardly revised estimates.

    For all recommendations report, click here

    Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Shree Cement - 0122024 - khan

    Broker Research

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