Shree Cement Ltd

₹ 24,838 -1.39%

13 Nov 12:06 p.m.

shreecement.com BSE: 500387 NSE: SHREECEM F&O

About

Shree Cement is engaged in manufacturing and selling of cement and cement related products and is ** one of the lowest cost producers in the country. It is the 3rd largest** cement producer in India with an installed capacity of 46.4 MTPA. ^[1]

Key Points

Production Capacity & Geographic Presence:^[1]^[2]
As of March 2026, Shree Cement has 69.3 MTPA of
cement capacity in India and 4 MTPA in the UAE. Its operations and clinker capacity remain concentrated in
Northern India, particularly Rajasthan. Beyond Rajasthan,
the company has manufacturing units in Chhattisgarh, Uttar Pradesh, Bihar, Jharkhand, Odisha, West Bengal, Karnataka, Andhra Pradesh and Maharashtra.

Website BSE NSE F&O

Market Cap ₹ 89,617 Cr.
Current Price ₹ 24,838
High / Low ₹ 28,090 / 21,355
Stock P/E 56.6
Book Value ₹ 6,614
Dividend Yield 0.60 %
ROCE 10.3 %
ROE 7.62 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Company has been maintaining a healthy dividend payout of 27.4%

Cons

Stock is trading at 3.78 times its book value
The company has delivered a poor sales growth of 9.08% over past five years.
Company has a low return on equity of 8.28% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Commodities Construction Materials Cement & Cement Products Cement & Cement Products

Part of BSE 500 BSE 100 BSE 200 BSE Dollex 200 Nifty 500 BSE Dollex 100 Nifty Commodities BSE Commodities BSE SENSEX Next 50 BSE 100 ESG BSE 250 LargeMidCap Index BSE Dividend Stability Index BSE Low Volatility Index BSE 100 LargeCap TMC Index Nifty LargeMidcap 250 Nifty 500 Multicap 50:25:25 Nifty Midcap 150 Nifty MidSmallcap 400 Nifty100 ESG Nifty Total Market Nifty500 Multicap Infrastructure 50:30:20 Nifty100 Enhanced ESG BSE 200 Equal Weight NIFTY Housing Nifty500 Equal Weight Nifty Core Housing Nifty Rural Nifty500 LargeMidSmall Equal-Cap Weighted BSE India 150 BSE 1000 Nifty India FPI 150 Nifty India Infrastructure & Logistics Nifty Cement Nifty MidSmallcap400 50:50

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	4,774	5,193	5,401	5,124	4,054	4,573	5,532	5,281	4,761	4,801	6,101	6,233	5,897
YoY Sales growth	+18%	+21%	+6%	+2%	-15%	-12%	+2%	+3%	+17%	+5%	+10%	+18%	+24%
	3,888	3,930	3,979	4,197	3,441	3,608	4,103	3,948	3,787	3,853	4,717	4,961	4,880
Operating Profit	886	1,264	1,422	927	613	965	1,429	1,333	974	947	1,384	1,272	1,016
OPM %	19%	24%	26%	18%	15%	21%	26%	25%	20%	20%	23%	20%	17%
	132	147	150	139	181	111	158	235	179	146	101	212	112
Interest	67	55	62	56	56	52	41	46	51	59	56	57	59
Depreciation	412	444	702	704	716	799	788	654	668	710	762	686	703
Profit before tax	539	913	807	306	23	225	758	868	434	324	667	741	367
Tax %	17%	23%	16%	9%	-229%	14%	24%	26%	29%	17%	21%	28%	28%
	447	702	676	278	77	194	575	644	310	268	528	531	263
EPS in Rs	123.79	194.53	187.05	77.22	21.19	53.60	159.18	178.12	85.51	73.92	145.70	146.67	72.57
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2015	Mar 2016 9m	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	6,259	5,514	8,594	9,833	12,555	12,868	13,560	15,010	17,852	20,404	19,283	20,943	23,031
Sales growth	+10%	-4%	+56%	+14%	+28%	+2%	+5%	+11%	+19%	+14%	-5%	+9%	+14%
	4,916	4,107	6,081	7,360	9,758	9,098	9,468	11,300	14,893	15,887	15,349	16,306	18,411
Operating Profit	1,344	1,407	2,513	2,473	2,797	3,771	4,091	3,710	2,960	4,517	3,934	4,638	4,620
OPM %	21%	26%	29%	25%	22%	29%	30%	25%	17%	22%	20%	22%	20%
	102	673	362	389	69	263	426	544	459	598	589	661	571
Interest	121	76	129	135	248	291	251	216	263	258	205	212	230
Depreciation	925	828	1,215	899	1,472	1,808	1,262	1,146	1,661	1,897	3,007	2,794	2,861
Profit before tax	401	1,176	1,531	1,827	1,146	1,934	3,004	2,892	1,495	2,959	1,312	2,293	2,099
Tax %	-6%	3%	13%	24%	11%	20%	24%	19%	15%	19%	14%	24%
	426	1,143	1,339	1,384	1,015	1,544	2,290	2,337	1,269	2,396	1,124	1,749	1,590
EPS in Rs	122.37	328.13	384.38	397.32	288.86	425.67	633.54	646.31	352.18	663.98	311.18	483.24	438.86
Dividend Payout %	20%	7%	36%	13%	21%	26%	9%	14%	28%	16%	35%	31%

Compounded Sales Growth
10 Years:	14%
5 Years:	9%
3 Years:	5%
TTM:	14%

Compounded Profit Growth
10 Years:	4%
5 Years:	-6%
3 Years:	11%
TTM:	-8%

Stock Price CAGR
10 Years:	6%
5 Years:	-3%
3 Years:	-1%
1 Year:	-7%

Return on Equity
10 Years:	11%
5 Years:	9%
3 Years:	8%
Last Year:	8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	35	35	35	35	35	36	36	36	36	36	36	36	36
Reserves	5,241	6,811	7,663	8,862	9,636	13,133	15,361	17,424	18,600	20,667	21,502	23,231	23,826
	917	881	1,293	3,403	2,803	3,146	2,230	2,129	2,725	1,656	1,046	1,868	2,179
	1,805	1,737	2,175	2,842	3,019	3,629	3,886	4,159	4,973	5,566	5,880	6,312	6,610
Total Liabilities	7,998	9,463	11,166	15,142	15,493	19,944	21,513	23,749	26,334	27,925	28,464	31,448	32,651
	3,004	3,050	2,599	3,589	6,182	6,163	6,216	7,282	7,481	9,591	9,315	11,207	10,987
CWIP	511	264	710	1,427	1,129	1,197	997	1,054	2,797	1,930	3,796	1,466	1,284
Investments	1,662	3,030	4,042	5,434	2,286	6,358	8,500	9,033	8,683	7,556	7,849	10,272	9,722
	2,820	3,118	3,814	4,691	5,896	6,227	5,800	6,380	7,373	8,848	7,504	8,503	10,658
Total Assets	7,998	9,463	11,166	15,142	15,493	19,944	21,513	23,749	26,334	27,925	28,464	31,448	32,651

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,239	1,566	2,202	1,879	2,080	3,973	4,254	2,668	2,569	3,347	4,920	3,794
	-990	-1,265	-2,048	-3,595	-720	-5,590	-2,651	-2,143	-2,405	-1,418	-3,726	-3,714
	-259	-271	-167	1,726	-1,276	1,581	-1,233	-849	-277	-1,710	-1,296	-110
Net Cash Flow	-10	31	-13	10	84	-36	370	-324	-113	220	-102	-30
Free Cash Flow	115	832	922	-648	158	2,433	3,125	459	-710	178	837	1,979
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	99%	121%	99%	96%	83%	118%	122%	77%	98%	84%	136%	89%

Ratios

Consolidated / View Standalone

	Jun 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	28	22	14	17	30	31	18	19	25	23	27	32
Inventory Days	708	657	765	743	672	631	585	878	703	670	444	469
Days Payable	225	207	205	345	193	242	301	313	305	229	247	274
Cash Conversion Cycle	511	472	575	416	509	420	302	584	423	464	223	227
Working Capital Days	18	32	22	11	62	5	-21	-1	-27	7	-8	-10
ROCE %	9%	18%	20%	18%	13%	15%	19%	17%	9%	15%	7%	10%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Cement & Clinker Sales Volume
Million Tonnes ・Standalone data

xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx		xx.xx	xx.xx	xx.xx	xx.xx
		xx,xxx	xx,xxx	xx,xxx	xx,xxx			xx,xxx	xx,xxx	xx,xxx
			xx.xx	xx.xx			xx.xx	xx.xx	xx.xx	xx.xx
				x.xx	xx.xx		x.xx	x.xx	xx.xx	xx.xx
			xx			xx		xx	xx	xx
						x.xx	x.xx
									x,xxx	x,xxx

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Green Power Mix
% of total power ・Standalone data

Installed Cement Capacity
MTPA ・Standalone data

Dealer Network
Count ・Standalone data

Capacity Utilization
% ・Standalone data

Premium Cement Mix
% of trade sales ・Standalone data

Trade Sales Mix
% of total sales ・Standalone data

Per kCal Fuel Cost
INR/kCal ・Standalone data

Realization per Tonne
INR/tonne ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	62.56%	62.56%	62.56%	62.56%	62.56%	62.56%	62.56%	62.56%	62.56%	62.56%	62.56%	62.56%
	12.31%	12.47%	11.85%	10.39%	9.88%	9.70%	10.07%	10.34%	10.07%	8.94%	8.21%	8.45%
	12.37%	12.14%	12.78%	14.22%	14.78%	15.07%	14.65%	14.40%	14.59%	15.79%	16.42%	16.49%
	0.17%	0.18%	0.23%	0.23%	0.25%	0.25%	0.25%	0.25%	0.25%	0.25%	0.25%	0.00%
	12.60%	12.64%	12.59%	12.60%	12.53%	12.42%	12.48%	12.46%	12.54%	12.48%	12.57%	12.51%
No. of Shareholders	24,852	28,268	26,744	29,903	25,531	24,779	25,592	26,178	28,755	29,592	27,345	28,948

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	64.79%	64.79%	64.79%	62.55%	62.55%	62.55%	62.56%	62.56%	62.56%	62.56%	62.56%
	14.60%	12.82%	12.97%	11.90%	12.51%	12.20%	12.82%	12.47%	9.70%	8.94%	8.45%
	14.65%	16.68%	6.22%	11.22%	10.80%	11.16%	11.58%	12.14%	15.07%	15.79%	16.49%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.17%	0.18%	0.25%	0.25%	0.00%
	5.96%	5.71%	16.03%	14.32%	14.14%	14.09%	12.90%	12.64%	12.42%	12.48%	12.51%
No. of Shareholders	20,910	27,872	27,800	39,836	41,632	56,833	31,219	28,268	24,779	29,592	28,948

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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