Shree Cement Ltd

shreecement.com BSE: 500387 NSE : SHREECEM
About

Shree Cement is engaged in the 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 43.4 MTPA. [1] [2]

Key Points

Brands
The company sells cement under the brand name Roofon, Bangur Power, Shree Jung Rodhak, Bangur Cement and Rock strong. [1]

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Website BSE NSE
  • Market Cap ₹ 100,869 Cr.
  • Current Price ₹ 27,956
  • High / Low ₹ 32,050 / 20,103
  • Stock P/E 39.0
  • Book Value ₹ 4,267
  • Dividend Yield 0.21 %
  • ROCE 19.1 %
  • ROE 15.9 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 18.69%

Cons

Peer comparison

Sector: Cement Industry: Cement - North India

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
2,855 3,140 3,489 3,303 3,004 3,146 3,415 2,487 3,250 3,541 4,235 3,635
2,297 2,373 2,596 2,355 2,129 2,266 2,358 1,799 2,250 2,415 2,989 2,612
Operating Profit 559 766 894 948 875 880 1,057 688 1,000 1,126 1,246 1,023
OPM % 20% 24% 26% 29% 29% 28% 31% 28% 31% 32% 29% 28%
Other Income -126 56 49 52 59 66 98 127 103 108 120 141
Interest 62 60 70 69 73 75 74 72 64 60 56 54
Depreciation 354 364 448 428 455 460 465 300 310 322 330 274
Profit before tax 16 399 424 502 406 410 616 443 730 852 980 836
Tax % -287% 17% 19% 24% 23% 24% 13% 25% 28% 26% 18% 25%
Net Profit 60 327 340 380 311 310 536 330 527 631 798 630
EPS in Rs 17.34 93.74 97.61 108.98 89.16 85.82 148.54 91.35 146.05 174.85 221.29 174.58
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
5,418 5,715 6,259 5,514 8,594 9,833 12,555 12,868 13,476 14,661
3,857 4,325 4,916 4,107 6,081 7,360 9,758 9,098 9,413 10,266
Operating Profit 1,561 1,390 1,344 1,407 2,513 2,473 2,797 3,771 4,063 4,395
OPM % 29% 24% 21% 26% 29% 25% 22% 29% 30% 30%
Other Income 187 104 102 673 362 389 69 263 454 473
Interest 193 129 121 76 129 135 248 291 251 234
Depreciation 436 550 925 828 1,215 899 1,472 1,808 1,262 1,236
Profit before tax 1,119 815 401 1,176 1,531 1,827 1,146 1,934 3,004 3,397
Tax % 10% 3% -6% 3% 13% 24% 11% 20% 24%
Net Profit 1,004 787 426 1,143 1,339 1,384 1,006 1,536 2,286 2,586
EPS in Rs 288.18 225.97 122.37 328.13 384.38 397.32 288.86 425.67 633.54 716.77
Dividend Payout % 7% 10% 20% 7% 36% 13% 21% 26% 9%
Compounded Sales Growth
10 Years:%
5 Years:20%
3 Years:11%
TTM:22%
Compounded Profit Growth
10 Years:%
5 Years:15%
3 Years:19%
TTM:74%
Stock Price CAGR
10 Years:31%
5 Years:10%
3 Years:23%
1 Year:32%
Return on Equity
10 Years:%
5 Years:15%
3 Years:14%
Last Year:16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions Corp actions Equity History
Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
35 35 35 35 35 35 35 36 36
Reserves 3,809 4,676 5,241 6,811 7,663 8,862 9,636 13,133 15,361
Borrowings 1,288 1,200 917 881 1,293 3,403 2,803 3,146 2,134
1,028 1,418 1,805 1,737 2,175 2,842 3,019 3,629 3,982
Total Liabilities 6,160 7,329 7,998 9,463 11,166 15,142 15,493 19,944 21,513
1,782 2,194 3,004 3,050 2,599 3,589 6,182 6,163 6,216
CWIP 133 758 511 264 710 1,427 1,129 1,197 997
Investments 2,203 2,244 1,662 3,030 4,042 5,434 2,286 6,358 8,500
2,042 2,132 2,820 3,118 3,814 4,691 5,896 6,227 5,800
Total Assets 6,160 7,329 7,998 9,463 11,166 15,142 15,493 19,944 21,513

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
1,260 1,401 1,239 1,566 2,202 1,879 2,080 3,973 4,254
-270 -1,234 -990 -1,265 -2,048 -3,595 -720 -5,590 -2,651
-982 -156 -259 -271 -167 1,726 -1,276 1,581 -1,233
Net Cash Flow 8 11 -10 31 -13 10 84 -36 370

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 21 19 28 22 14 17 30 31 19
Inventory Days 496 703 708 657 765 743 672 631 585
Days Payable 75 163 225 207 205 345 193 242 301
Cash Conversion Cycle 441 559 511 472 575 416 509 420 303
Working Capital Days 42 45 48 55 55 56 76 48 21
ROCE % 18% 9% 18% 20% 18% 13% 16% 19%

Shareholding Pattern

Numbers in percentages

Insider trades
Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
64.79 64.79 64.79 64.79 62.55 62.55 62.55 62.55 62.55 62.55 62.55 62.55
13.13 12.97 12.21 11.88 13.20 11.90 11.55 11.37 12.18 12.51 13.02 13.53
16.57 6.22 6.86 8.57 9.89 11.22 11.65 11.54 11.07 10.80 10.48 10.11
5.52 16.03 16.14 14.76 14.35 14.32 14.24 14.54 14.20 14.14 13.95 13.81

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