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Shree Cement Results: Latest Quarterly Results & Analysis

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Shree Cements Ltd. 28 Oct 2025 16:47 PM
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Q2FY26 Quarterly Result Announced for Shree Cements Ltd.

Cement & Cement Products company Shree Cements announced Q2FY26 results

  • The Company reported Rs 4,303 crore in revenue, marking a 15% YoY increase, driven by volumes, premiumisation push and value over volume strategy adopted by the Company.
  • Operating Profit (EBITDA) stood at Rs 851 crore, reflecting a 44% growth, supported by operational efficiencies and strategic cost management.
  • Profit After Tax (PAT) surged by 198% to Rs 277 crore.

Neeraj Akhoury, Managing Director, Shree Cement. said: “Our Q2 results underscore the resilience of our business operations and the agility of our teams in navigating a dynamic environment. We remain steadfast in our commitment to enhancing shareholder value through disciplined execution and continuous innovation. The recent policy measures, including GST rate rationalization supported by benign inflation levels, are expected to stimulate economic momentum. This creates a favorable backdrop for the cement industry, and we are confident in our ability to sustain strong performance and deliver consistent results in the coming quarters.”

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Cement & Cement Products company Shree Cements announced Q1FY26 results

  • Net Revenue from Operations: Rs 4,948 crore compared to Rs 4,835 crore during Q1FY25, change 2%.
  • EBITDA: Rs 1,229  crore compared to Rs 916 crore during Q1FY25, change 34%.
  • PAT: Rs 619 crore compared to Rs 318 crore during Q1FY25, change 95%.

Neeraj Akhoury, Managing Director, Shree Cement, said: “We are pleased to report a strong start to the FY26, with robust performance in the first quarter reflecting the resilience of our business model and the dedication of our teams across the organisation. Our revenue and profitability have shown healthy YoY growth, driven our sustained focus on pricing, premiumisation, operational efficiencies, and disciplined cost management.

“This quarter’s results reaffirm our strategic focus on innovation, sustainability, and customercentricity. We continue to invest in green technologies, digital transformation, and capacity expansion to meet the evolving needs of our stakeholders. As we move forward, we remain committed to delivering long-term value while contributing meaningfully to India’s growth story.”

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Cement & Cement Products company Shree Cements announced Q3FY25 results

Financial Highlights:

  • Revenue from Operations: Rs 4,235 crore compared to Rs 4,873 crore during Q3FY24 change -13%.
  • EBITDA: Rs 947 crore compared to Rs 1,234  crore during Q3FY24, change -23%.
  • PAT: Rs 229 crore comppared to Rs 734 crore during Q3FY24, change -69%.
  • Cash profit: Rs 966 crore compared to Rs 1,074 crore during Q3FY24, change -10%.

Other Highlights:

  • Total sale volumes up by 15% from 7.60 million tonnes to 8.77 million tonnes on QoQ basis.
  • Power & fuel cost optimized by 9% to Rs 913 crore v/s Rs 1,001 crore in Q2FY25 due to softer fuel prices and operational efficiency.
  • EBITDA jumped to Rs 947 crore from Rs 593 crore on QoQ basis.
  • Led by cost optimization and efficiency measures, total expenditure (excluding depreciation and interest) came down from Rs 4,122/ tonne to Rs 3,748/ tonne on QoQ basis.
  • Sales of premium products stood at 15.0% of trade sale volume vs 14.9% in Q2FY25.

Neeraj Akhoury, Managing Director of Shree Cement, said: “Our strategy of prioritizing premium, high value products coupled with sharp focus on brand enhancement, strengthening the dealer network and optimizing the geo-mix has enabled us to improve our sale volumes. The results of our continued emphasis on operational excellence, efficiency improvements, and cost optimization are evident in our streamlined production costs this quarter. Looking ahead, we remain committed to increasing the volume of our premium product offerings and maintaining our relentless focus on further cost optimization.”

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Cement & Cement Products company Shree Cements announced Q2FY25 results

  • Total sale volumes down by 7% from 8.20 million tonnes to 7.60 million tonnes on YoY basis.
  • Power & fuel cost optimized by 27% from Rs 1,371 crore to Rs 1,001 crore due to softer fuel prices.
  • EBITDA stood at Rs 593 crore against Rs 870 crore in the corresponding quarter of the previous year.
  • Led by cost optimization and efficiency measures, total expenditure (excluding depreciation and interest) came down from Rs 4,503/ tonne to Rs 4,122/ tonne on YoY basis.
  • DJSI CSA score 2024 improved to 73 from 62 in year 2023.
  • Sale of premium products stood at 15% of total trade sale volume.

Neeraj Akhoury, Managing Director, Shree Cement, said: “Despite strong headwinds on account of extended monsoon and softer pricing environment across the industry, Shree Cement has delivered a steady performance on the back of accelerated operational efficiency measures, focused cost optimisation drive and product premiumisation initiatives.”

"The company expects gradual improvement in demand driven by increased government spending in the second half of the financial year and improved demand from urban and rural segments owing to good monsoon. Shree Cement remains focused on its long-term growth and sustainability, with ongoing investments in capacity expansion and the adoption of greener technologies.”

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Cement & Cement Products company Shree Cements announced Q1FY25 results:

  • Q1FY25 net revenue marginally down by 3% from Rs 4,971 crore to Rs 4,835 crore
  • Q1FY25 total sale volume increased by 8% from 8.92 million tonnes to 9.64 million tonnes
  • EBITDA reduced by 2% from Rs 933 crore to Rs 916 crore
  • Sale of premium products stood at 7.6% of total trade sale volume

Neeraj Akhoury, Managing Director, Shree Cement said, “We continued to optimize our production processes, enhance cost efficiencies and maintain a strong focus on branding initiatives. These efforts enabled us to navigate the challenging market conditions marked by sluggish demand due to general elections and extreme weather, consistently delivering value to our stakeholders.”

He added, "We will continue our focus on increasing our cement manufacturing capacity to gain market share. This, along with our consistent product quality, positions us well to capitalize on the anticipated rebound in cement demand driven by enhanced infrastructure allocation in the Union Budget, rising housing demand and expected growth in the rural sector."

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Cement & Cement Products company Shree Cements announced Q4FY24 & FY24 results:

  • Q4FY24 net revenue up YoY by 7% from Rs 4,785 crore to Rs 5,101 crore, annual turnover zooms by 16% to Rs 19,586 crore
  • Q4FY24 total sale volume increased YoY by 8% from 8.83 million tonnes to 9.53 million tonnes, annual volume at 35.5 million tonnes with 12% growth
  • EBIDTA (without Other Income) went up YoY by 49% from Rs 892 crore to Rs1,327 crore. This is the highest ever EBIDTA delivered by the Company.
  • Annual EBIDTA also reaches highest ever level of Rs 4,364 crore

Neeraj Akhoury, Managing Director, Shree Cement said, “Our strong financial performance reflects our sharp focus on operational efficiencies while expanding our capacity through green and brownfield projects. This is complemented by our digital transformation, which is driving us forward, streamlining our operations and empowering our people with data-driven decision-making capabilities.”

He added, “I am happy to see the enthusiastic market response to our consolidation of all products under the master brand ‘Bangur’, which, along with diversifying into Ready Mix Concrete, marks a significant step in our journey towards becoming a multi-product player in the core cement business. We are today well-positioned to contribute significantly to India’s vision of world-class infrastructure.”

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Shree Cements announced Q3FY24 results:

  • Net revenue went up YoY by 20% from Rs 4,069 crore to Rs 4,901 crore.
  • Total sale volume increased YoY by 11% from 8.03 million tonnes to 8.89 million tonnes.
  • Capacity utilization improved from 72% to 77% on a YoY basis.
  • EBIDTA up YoY 74% from Rs 708 crore to Rs 1,234 crore.
  • Sale of premium products rose to 9.5% vis-à-vis 7.2% of total trade sales on a YoY basis.
  • The Board of Directors in today’s meeting declared an interim dividend of Rs 50/- per share for the year 2023-24.

Commenting on the performance, Neeraj Akhoury, Managing Director, Shree Cement said, “Shree Cement is executing a comprehensive performance improvement plan, and we are experiencing a positive impact. Strong volume growth along with building premium products through accelerated channel expansion and softening of fuel prices has helped us to deliver a robust improvement. We have embarked upon a comprehensive re-branding program which will help us build a differentiated positioning and win consumers delight. We have commissioned Purulia and Nawalgarh plant this year and our capacity growth plans are on track.

We are confident of our potential to continue demonstrating superior performance. Our country is rapidly progressing on both housing and infrastructure, and this will provide a solid platform for India’s cement demand growth. We are fully prepared to complete our various projects to reach beyond 80 million tonnes cement production capacity by year 2028”.

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Shree Cements announced Q2FY24 results:

  • Financial Performance:
    • Net revenue up YoY by 21% from Rs 3,781 crore to Rs 4,585 crore
    • Total sale volume increased YoY by 10% from 7.46 million tonnes to 8.20 million tonnes
    • Capacity utilization improved from 65% to 71% on a YoY basis
    • EBIDTA up YoY by 66% from Rs 523 crore to Rs 870 crore
  • Operational Highlights:
    • Total sale volume increased by 10% from 7.46 million tonnes to 8.20 million tonnes.
    • Capacity utilization improved from 65% to 71% on a year-on-year basis.
    • Sale of premium products accounted for 9.5% of total trade sales, up from 7.5% in the previous year.
  • The Board of Directors approved the setting up of a brownfield cement grinding capacity of 3.40 million tonnes per annum at the existing facilities in Baloda Bazar district, Chhattisgarh, with an estimated capital expenditure of Rs 550 crore.
  • The Board of Directors approved the merger of Shree Cement East Pvt. Ltd. and Shree Cement North Pvt. Ltd., wholly owned subsidiaries of the Company, into Shree Cement Ltd. subject to applicable regulatory requirements and sanction by National Company Law Tribunal(s) of relevant jurisdiction of the entities involved.

Neeraj Akhoury, Managing Director, Shree Cement while commenting on the performance said, “We are excited to announce our Q2 performance with strong EBIDTA generation of Rs 870 crore on the back of volume growth of 10% and improved operational matrices. In our transformation journey, we have made significant progress in establishing world-class operational benchmarks, enhanced brand equity, and reduced environmental footprints. We continue to add world-class technology enablers to improve this performance further. We continually improve our volumes quarter over quarter. As the country enters into a multi-year strong demand cycle, we are aggressively marching ahead on our expansion plans to achieve our target of going beyond 80 million tons capacity by 2028.

 

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Shree Cements announced Q1FY24 results:

  • Net revenue up YoY by 19% from Rs 4,203 crore to Rs 4,999 crore
  • Total sale volume increased YoY by 19% from 7.50 million tonnes to 8.92 million tonnes
  • EBIDTA up YoY by 14% from Rs 819 crore to Rs 933 crore
  • Sale of premium products rise to 8.8%, a 6.3% on a YoY basis
  • Delivers volume growth of 19% with EBITDA increasing by 14% YoY. PAT improves by 84%.
  • Starts 12 million tonnes cement capacity expansion projects in Rajasthan, Uttar Pradesh, and Karnataka at a total investment of ~ Rs 7,000 crore.
  • Makes strategic diversification to ready mix concrete, starting with a plan to set up 5 ready mix units by this year.

Commenting on the performance, Neeraj Akhoury, Managing Director, Shree Cement said, “Shree Cement’s quarter performance confirms that our strategic intents are starting to deliver results. Our bold actions to grow ahead of the industry with a focus on organic growth, sharpening operational efficiencies & improve special product sales will continue to be executed in the coming years. Shree has embarked on an ambitious journey to push the limits of its performance. We are also determined to bring world-class technology enablers, especially digital tools, to create robust routes to markets and plant operations. Shree leads on green power share and we will continue to examine every step to make Shree the greenest cement company. We have started the trial commissioning of our new unit at Purulia, West Bengal, and are confident to commence operations of new plants at Nawalgarh in Rajasthan and Guntur in Andhra Pradesh within scheduled timelines. We are also happy to announce our next phase of capacity expansion projects of 12 million tonnes that will take the group’s cement capacity to 72.4 million tonnes.”

Akhoury added, “The current macro-economic environment in the country combined with government focus is supporting growth for the cement sector. Accordingly, we are accelerating our growth plans to ensure that we seize the opportunity to the maximum. We have set an ambitious goal of taking our capacity beyond 80 million tons in the coming years and are aggressively charting out action plans to implement the same.”

 

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Shree Cements announced Q4FY23 results:

  • Net revenue up QoQ by 18% from Rs 4,069 crore to Rs 4,785 crore
  • Total sale volume increased QoQ by 10% from 8.03 million tonnes to 8.83 million tonnes
  • EBIDTA (without Other Income) went up QoQ by 26% from Rs 708 crore to Rs 892 crore
  • Proportion of premium products sales against total trade cement sales was 7.5% in Q4FY23 vs 7.2% in Q3FY23
  • The Board of Directors of the company has declared a second interim dividend of Rs 55 per share (550%) for FY23

Neeraj Akhoury, Managing Director, Shree Cement, said, “Shree Cement has delivered a robust set of revenue & EBITDA growth while strongly pursuing our journey to remain the greenest cement company with world-class performance indicators. We are driving prioritized initiatives to increase green power, usage of alternative fuels, and process automation combined with advanced digitalization of the operations to deliver superior performance. The improved performance during this quarter is testimony to such initiatives amidst the challenge of managing high fuel costs. Our resolve to step up actions on strengthening brand equity is under execution and we are confident to deliver volume growth with focus on premium cement creating enhanced value for our customers.”

He added that “We continue to execute sharp action plans to reach beyond 80 million tons cement capacity in the coming years. Our growth plan will add significant value to our business and provide opportunities for all our stakeholders.”

 

 

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