Shree Cement Ltd

₹ 28,402 1.68%

05 Feb - 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

Product Portfolio
The company is India’s 3rd-largest cement company, offering a range of cement products, such as Portland Pozzolana Cement, Ordinary Portland Cement, and Portland Slag Cement, under the brand names Bangur Rockstrong, Bangur Powermax, Bangur Jungrodhak, etc. It also offers Green Pro Ecolabel-certified Shree Heat Shield AAC blocks. ^[1] ^[2] It has been focussing on premiumization of its product portfolio with Bangur Magna being its key premium cement brand. It has increased its premium product mix from 7% of the trade mix in FY22 to 15% as of Q2 FY25. ^[3] ^[4]

Website BSE NSE

Market Cap ₹ 1,02,477 Cr.
Current Price ₹ 28,402
High / Low ₹ 28,683 / 23,500
Stock P/E 78.7
Book Value ₹ 5,710
Dividend Yield 0.37 %
ROCE 15.4 %
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 4.97 times its book value
Company has a low return on equity of 11.6% 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

Sector: Cement Industry: Cement - North India

Part of BSE 500 BSE 100 BSE 200 BSE Dollex 200 Nifty Next 50 Nifty 500 Nifty 100 Nifty Infrastructure Nifty 200 Nifty Commodities Nifty 100 Equal Weight BSE Allcap BSE LargeCap BSE Commodities BSE SENSEX Next 50 BSE 250 LargeMidCap Index BSE Dividend Stability Index BSE 100 LargeCap TMC Index Nifty LargeMidcap 250 Nifty 500 Multicap 50:25:25 Nifty100 ESG Nifty Total Market

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	3,552	4,099	4,203	3,781	4,069	4,785	4,971	4,560	4,873	5,073	4,835	3,727	4,235
	2,726	3,188	3,384	3,258	3,361	3,893	4,038	3,690	3,639	3,745	3,918	3,134	3,289
Operating Profit	826	911	819	523	708	892	933	870	1,234	1,327	916	593	947
OPM %	23%	22%	19%	14%	17%	19%	19%	19%	25%	26%	19%	16%	22%
	110	138	-22	157	161	135	162	126	135	138	135	178	115
Interest	55	54	57	68	71	73	75	68	56	65	57	57	53
Depreciation	252	301	328	363	414	442	308	331	347	628	643	669	750
Profit before tax	628	694	412	249	384	513	710	597	966	772	351	45	259
Tax %	22%	7%	23%	24%	28%	-6%	18%	18%	24%	14%	9%	-108%	11%
	492	645	316	190	277	546	581	491	734	662	318	93	229
EPS in Rs	136.36	178.82	87.46	52.55	76.71	151.39	161.06	136.18	203.50	183.41	88.06	25.81	63.58
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2013	Jun 2014	Jun 2015	Mar 2016 9m	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	5,418	5,715	6,259	5,514	8,594	9,826	11,722	11,904	12,669	14,306	16,837	19,586	17,870
	3,857	4,325	4,916	4,107	6,081	7,354	9,066	8,218	8,677	10,656	13,895	15,220	14,087
Operating Profit	1,561	1,390	1,344	1,407	2,513	2,473	2,656	3,686	3,992	3,650	2,942	4,365	3,783
OPM %	29%	24%	21%	26%	29%	25%	23%	31%	32%	26%	17%	22%	21%
	187	104	102	673	362	389	64	260	421	535	432	560	565
Interest	193	129	121	76	129	135	247	287	247	218	269	264	232
Depreciation	436	550	925	828	1,215	899	1,392	1,699	1,140	1,036	1,546	1,615	2,689
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	1,427
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	1,302
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	360.86
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:	-7%

Compounded Profit Growth
10 Years:	11%
5 Years:	18%
3 Years:	3%
TTM:	-45%

Stock Price CAGR
10 Years:	10%
5 Years:	3%
3 Years:	5%
1 Year:	1%

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	Sep 2024
Equity Capital	35	35	35	35	35	35	35	36	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	20,565
	1,288	1,200	917	881	1,293	3,403	2,798	3,144	2,156	2,209	2,811	1,752	1,758
	1,028	1,418	1,805	1,737	2,175	2,842	2,798	3,257	3,633	3,935	4,719	5,282	5,026
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	27,385
	1,782	2,194	3,004	3,050	2,599	3,589	4,476	4,319	4,192	5,321	5,333	7,099	7,293
CWIP	133	758	511	264	710	1,427	1,121	962	971	973	2,320	1,833	2,377
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	9,961
	2,042	2,132	2,820	3,118	3,814	4,691	5,153	5,141	4,826	5,575	6,515	7,812	7,753
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	27,385

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	11
ROCE %	24%	18%	9%	18%	20%	18%	12%	16%	19%	17%	9%	15%

Shareholding Pattern

Numbers in percentages

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	62.55%	62.55%	62.56%	62.56%	62.56%	62.56%	62.56%	62.56%	62.56%	62.56%	62.56%	62.56%
	12.20%	11.85%	12.37%	12.50%	12.82%	12.62%	12.22%	12.31%	12.47%	11.85%	10.39%	9.88%
	11.16%	11.23%	10.96%	11.79%	11.58%	11.83%	12.37%	12.37%	12.14%	12.78%	14.22%	14.78%
	0.00%	0.00%	0.16%	0.17%	0.17%	0.17%	0.17%	0.17%	0.18%	0.23%	0.23%	0.25%
	14.09%	14.37%	13.97%	13.00%	12.90%	12.83%	12.69%	12.60%	12.64%	12.59%	12.60%	12.53%
No. of Shareholders	56,833	62,628	58,486	36,126	31,219	32,176	27,738	24,852	28,268	26,744	29,903	25,531

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Dec 2024
	64.79%	64.79%	64.79%	62.55%	62.55%	62.55%	62.56%	62.56%	62.56%
	14.60%	12.82%	12.97%	11.90%	12.51%	12.20%	12.82%	12.47%	9.88%
	14.65%	16.68%	6.22%	11.22%	10.80%	11.16%	11.58%	12.14%	14.78%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.17%	0.18%	0.25%
	5.96%	5.71%	16.03%	14.32%	14.14%	14.09%	12.90%	12.64%	12.53%
No. of Shareholders	20,910	27,872	27,800	39,836	41,632	56,833	31,219	28,268	25,531

* 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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