Shree Cement Ltd

₹ 26,289 -0.07%

18 May - close price

shreecement.com BSE: 500387 NSE: SHREECEM

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

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

Website BSE NSE

Market Cap ₹ 94,852 Cr.
Current Price ₹ 26,289
High / Low ₹ 30,738 / 22,601
Stock P/E 38.4
Book Value ₹ 5,650
Dividend Yield 0.38 %
ROCE 15.3 %
ROE 12.8 %
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 18.7%

Cons

Stock is trading at 4.65 times its book value
Company has a low return on equity of 11.5% over last 3 years.
Working capital days have increased from 39.6 days to 109 days

* 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

Sector: Cement Industry: Cement - North India

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	3,958	3,449	3,206	3,552	4,099	4,203	3,781	4,069	4,785	4,999	4,585	4,901	5,101
	2,776	2,436	2,308	2,726	3,188	3,384	3,258	3,361	3,893	4,066	3,715	3,667	3,774
Operating Profit	1,182	1,014	898	826	911	819	523	708	892	933	870	1,234	1,327
OPM %	30%	29%	28%	23%	22%	19%	14%	17%	19%	19%	19%	25%	26%
	119	139	150	110	138	-22	157	161	135	162	126	135	138
Interest	55	54	56	55	54	57	68	71	73	75	68	56	65
Depreciation	299	232	251	252	301	328	363	414	442	308	331	347	628
Profit before tax	947	867	742	628	694	412	249	384	513	710	597	966	772
Tax %	19%	24%	22%	22%	7%	23%	24%	28%	-6%	18%	18%	24%	14%
	768	662	578	492	645	316	190	277	546	581	491	734	662
EPS in Rs	212.76	183.40	160.11	136.36	178.82	87.46	52.55	76.71	151.39	161.06	136.18	203.50	183.41
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2013	Jun 2014	Jun 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	5,418	5,715	6,259	5,514	8,594	9,826	11,722	11,904	12,669	14,306	16,837	19,586
	3,857	4,325	4,916	4,107	6,081	7,354	9,066	8,218	8,677	10,656	13,895	15,222
Operating Profit	1,561	1,390	1,344	1,407	2,513	2,473	2,656	3,686	3,992	3,650	2,942	4,364
OPM %	29%	24%	21%	26%	29%	25%	23%	31%	32%	26%	17%	22%
	187	104	102	673	362	389	64	260	421	535	432	561
Interest	193	129	121	76	129	135	247	287	247	218	269	264
Depreciation	436	550	925	828	1,215	899	1,392	1,699	1,140	1,036	1,546	1,615
Profit before tax	1,119	815	401	1,176	1,531	1,827	1,081	1,960	3,026	2,931	1,559	3,046
Tax %	10%	3%	-6%	3%	13%	24%	12%	20%	24%	19%	15%	19%
	1,004	787	426	1,143	1,339	1,384	951	1,570	2,312	2,377	1,328	2,468
EPS in Rs	288.19	225.98	122.38	328.13	384.39	397.33	273.00	435.19	640.77	658.70	368.10	684.14
Dividend Payout %	7%	10%	20%	7%	36%	13%	22%	25%	9%	14%	27%	15%

Compounded Sales Growth
10 Years:	14%
5 Years:	11%
3 Years:	16%
TTM:	16%

Compounded Profit Growth
10 Years:	10%
5 Years:	18%
3 Years:	2%
TTM:	86%

Stock Price CAGR
10 Years:	15%
5 Years:	5%
3 Years:	-2%
1 Year:	8%

Return on Equity
10 Years:	14%
5 Years:	13%
3 Years:	12%
Last Year:	13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2013	Jun 2014	Jun 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	35	35	35	35	35	35	35	36	36	36	36	36
Reserves	3,809	4,676	5,242	6,811	7,663	8,862	9,563	12,900	15,214	17,235	18,252	20,348
	1,288	1,200	917	881	1,293	3,403	2,798	3,144	2,156	2,209	2,811	1,752
	1,028	1,418	1,805	1,737	2,175	2,842	2,798	3,257	3,633	3,935	4,719	5,282
Total Liabilities	6,160	7,329	7,998	9,463	11,166	15,142	15,193	19,338	21,039	23,415	25,819	27,419
	1,782	2,194	3,004	3,050	2,599	3,589	4,476	4,319	4,192	5,321	5,333	7,099
CWIP	133	758	511	264	710	1,427	1,121	962	971	973	2,320	1,833
Investments	2,203	2,244	1,663	3,030	4,043	5,434	4,444	8,915	11,051	11,546	11,651	10,675
	2,042	2,132	2,820	3,118	3,814	4,691	5,153	5,141	4,826	5,575	6,515	7,812
Total Assets	6,160	7,329	7,998	9,463	11,166	15,142	15,193	19,338	21,039	23,415	25,819	27,419

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2013	Jun 2014	Jun 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	1,260	1,401	1,239	1,566	2,202	1,879	2,060	3,751	4,094	2,723	2,704	3,304
	-270	-1,234	-990	-1,265	-2,048	-3,595	-813	-5,373	-2,868	-1,865	-2,409	-1,350
	-982	-156	-259	-271	-167	1,726	-1,265	1,591	-1,215	-858	-315	-1,794
Net Cash Flow	8	11	-10	31	-13	10	-18	-31	11	-1	-20	160

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2013	Jun 2014	Jun 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	21	19	28	22	14	17	23	25	14	15	20	17
Inventory Days	496	703	708	657	765	743	671	678	616	693	702	627
Days Payable	75	163	225	207	205	345	190	251	328	258	327	212
Cash Conversion Cycle	441	559	511	472	575	416	504	453	302	450	395	432
Working Capital Days	21	37	31	45	55	55	66	41	-15	8	3	109
ROCE %	24%	18%	9%	18%	20%	18%	12%	16%	19%	17%	9%

Shareholding Pattern

Numbers in percentages

2 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	62.55%	62.55%	62.55%	62.55%	62.55%	62.56%	62.56%	62.56%	62.56%	62.56%	62.56%	62.56%
	13.02%	13.53%	13.05%	12.20%	11.85%	12.37%	12.50%	12.82%	12.62%	12.22%	12.31%	12.47%
	10.48%	10.11%	10.50%	11.16%	11.23%	10.96%	11.79%	11.58%	11.83%	12.37%	12.37%	12.14%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.16%	0.17%	0.17%	0.17%	0.17%	0.17%	0.18%
	13.95%	13.81%	13.90%	14.09%	14.37%	13.97%	13.00%	12.90%	12.83%	12.69%	12.60%	12.64%
No. of Shareholders	45,423	43,504	49,260	56,833	62,628	58,486	36,126	31,219	32,176	27,738	24,852	28,268

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	64.79%	64.79%	64.79%	62.55%	62.55%	62.55%	62.56%	62.56%
	14.60%	12.82%	12.97%	11.90%	12.51%	12.20%	12.82%	12.47%
	14.65%	16.68%	6.22%	11.22%	10.80%	11.16%	11.58%	12.14%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.17%	0.18%
	5.96%	5.71%	16.03%	14.32%	14.14%	14.09%	12.90%	12.64%
No. of Shareholders	20,910	27,872	27,800	39,836	41,632	56,833	31,219	28,268

* 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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