Page 2 - Shree Cement

Shree Cement falls short of profit view as rising costs offset record sales

The company's net profit dropped about 16% to 5.56 billion rupees ($65.2 million), just below analysts' average expectation of 5.59 billion rupees, per data compiled by LSEG

Stocks to watch today, May 14: Tata Motors, HAL, Eicher, Lupin, Airtel

At 6:40 AM, GIFT Nifty futures were trading 90 points higher at 24,730 level, indicating a higher start.

Buy & Sell: Top picks by Ruchit Jain of Motilal Oswal for February 20

UPL stock has recently given a breakout from a long consolidation phase and the declines post the breakout has seen strong buying interest

Nuvama says 'Buy' ACC, Ambuja, JK Cement as sector sentiment improves

With industry focus shifting to volume growth in the closing quarter of the year, the likelihood of substantial price hikes in the near-term remains low due to the continued high competitive pressure

Shree Cement hits 52-week high; soars 15% in 3 weeks on good Q3 results

The management expects cement demand to grow on the back of likely increase in rural consumption aided by improved farm cash flows and sustained healthy demand for urban housing.

Shree Cement Q3FY25 results: Net profit falls 72.5% to Rs 193 crore

The company's consolidated net profit plunged 72.5 per cent to Rs 193 crore ($22.3 million) in the quarter ended Dec. 31

Nomura downgrades Shree Cement, ACC, Nuvoco, Dalmia Bharat; here's why

Nomura analysts project a 6 per cent year-on-year (Y-o-Y) volume growth for the Indian cement industry in FY26F, compared to an estimated 3 per cent in FY25F

Cement shares in action: Heidelberg, UltraTech, Shree, Nuvoco zoom up to 4%

The renewed investor interest in the cement shares came on the back of reports that cement dealers have initiated price hikes since the start of December

Cement shares in demand; UltraTech, Shree, JK, Dalmia Bharat gain up to 5%

While FY25 is seeing slow growth and subdued govt spending, CareEdge maintains a long-term outlook aligned with India's broader growth strategy with housing, continuing to be primary driver of cement.

Shree Cement Q2FY25 results: Net profit declines 83% to Rs 76.44 crore

Shree Cement maintained its capital expenditure (capex) target to expand capacity to 80 million tonnes per annum

Shree Cement Q2FY25 results: Net profit falls 83% to Rs 76.64 crore

Bangur family-promoted Shree Cement Ltd on Monday reported 82.83 per cent decline in consolidated net profit at Rs 76.64 crore for September quarter FY25 as it faced challenging demand conditions on account of prolonged monsoon and lower price in the segment. The company had logged a net profit of Rs 446.62 crore in the July-September period a year ago, according to a regulatory filing from Shree Cement Ltd (SCL). Revenue from operations was down 15.07 per cent year-on-year to Rs 4,054.17 crore during the quarter. Like other cement makers, SCL also faced "challenging demand conditions on account of prolonged monsoon and softer prices faced by the industry," the company said in its earning statement. EBITDA stood at Rs 593 crore against Rs 870 crore in the corresponding quarter of the previous year. Total expense was at Rs 4,212.27 crore, down 3.52 per cent from the year-ago period. Total sale volumes came down by 7 per cent to 7.60 million tonne as against 8.20 million tonne. Tot

Shree Cement ties up with DPIIT to support startups in manufacturing sector

Shree Cement Ltd on Tuesday said it has signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT) to support startups in the manufacturing sector and drive innovation. Through this partnership, Shree Cement aims to support product startups by offering infrastructure, mentorship, access to funding, and market connections, guiding them from prototype development to potential international expansion, the company said in a statement. "Our partnership with DPIIT reinforces our commitment to fostering innovation in the manufacturing sector. We believe this partnership will play an important role in promoting self-reliance through domestic manufacturing and import substitution," Shree Cement Managing Director Neeraj Akhoury said. DPIIT Director Sumeet Jarangal said, "This partnership between Shree Cement and DPIIT will lay the foundation for a brighter future for early stage manufacturing startups and is a strong step in making Indi

Shree Cement extends fall; stock down 13% in 6 days post weak Q1 results

Management indicated that cement demand would remain weak until calendar year 2024-end and expects a full recovery from Q4FY25, brokerage firm MOFSL said.

Shree Cement Q1FY25 results: Net profit down 51.3% at Rs 278.45 cr

Bangur family promoted Shree Cement Ltd on Tuesday reported a decline of 51.31 per cent in its consolidated net profit to Rs 278.45 crore for the first quarter ended June 2024. The company had posted a net profit of Rs 571.94 crore in the April-June period a year ago, according to a regulatory filing from Shree Cement Ltd (SCL). However, its revenue from operations was up 1.73 per cent to Rs 5,123.96 crore during the quarter under review, as against Rs 5,036.65 crore in the corresponding period of the preceding fiscal. Total expenses of SCL increased 10.05 per cent to Rs 4,957.24 crore in the June quarter. SCL's total income rose 1.12 per cent to Rs 5,263.09 crore in the June quarter. Shree Cement is the third largest cement-making firm, owning brands such as Roofon, Bangur Power, Shree Jung Rodhak, Bangur Cement and Rockstrong. Shares of Shree Cement Ltd on Tuesday were trading at Rs 519.60 apiece on BSE, up 1.82 per cent from the previous close.

Shree Cement's installed renewable power capacity touches 1 GW across India

India's third largest cement manufacturer Shree Cement on Monday announced achieving installed power capacity of 1,000 MW with the commissioning of a 19.5 MW solar power plant at its Andhra Pradesh unit. "The one GW (Gigawatt) capacity includes a mix of solar, wind, thermal and waste heat recovery power plants, showcasing Shree Cement's diversified approach to meeting the electricity demand for cement production," the Bangur family-promoted firm said in a statement. The company has made an investment of Rs 4,000 crore to expand the renewable portfolio, which now accounts for nearly half of the installed power capacity. "Looking ahead, an estimated capex of Rs 1,000 crore is planned in FY25 for installation of additional renewable energy capacity," it said. This includes the installation of 132 MW of solar capacity in five states - Jharkhand, Haryana, Rajasthan, Uttar Pradesh and Uttarakhand, 36 MW of wind generation in Rajasthan and 34 MW of waste heat recovery capacity in Karnatak

Bharti Airtel, Cipla, Paytm, Colgate among seven stocks to track on May 15

At 6:55 AM, GIFT Nifty futures was trading 73 points higher at 22,382.50 levels compared to Nifty50 futures, indicating a positive start for the bourses

Shree Cement enters ready mix concrete segment with 1st greenfield project

Shree Cement, one of the top three players in the segment, on Friday announced entry into the ready mix concrete (RMC) segment with the commissioning of its first greenfield in Hyderabad. The new RMC plant has a capacity of 90 cubic metres per hour and would help the Bangur family-promoted firm to emerge as a multi-product player in the cement business, as per a company statement. "As part of this strategy, Shree Cements had acquired five operational plants of StarCrete LLP in Mumbai earlier this month for a consideration of Rs 33.5 crore. The company's combined RMC capacity now stands at 512 cubic metres per hour," it said. Shree Cement Managing Director Neeraj Akhoury said the venture into the RMC segment marks Shree Cement's entry into a new line of business. "We recognise the vast potential of RMC business, which is being driven by India's growth momentum, the concerted efforts of both central and state governments to advance infrastructure projects and an uptick in the housing

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Shah Rukh Khan vs Sunny Deol in the battle for India's cement demand

Celebrities become the face of an industry evolving with rising demand and changing consumer patterns

I-T Dept issues final notice to Shree Cement over Rs 4,000 cr tax liability

The Income Tax Department has claimed a demand of Rs 4,000 crore against cement manufacturer Shree Cement for tax evasion