Shree Cement Posts Strong Q2 Numbers; Shares Dip Despite Robust Performance

Shree Cement, despite reporting impressive quarterly figures on Tuesday, experienced a decline of over 1 percent in its shares during the morning session on NSE on Wednesday (November 8).

At 1:27 PM, Shree Cement’s shares were down by 1.56 percent, trading at ₹26,269.45 each. The company’s standalone revenue from operations displayed a substantial growth of 21.3 percent, reaching Rs 4,584.6 crore in the quarter under review, compared to Rs 3,781 crore in the corresponding quarter of the previous fiscal year.


In terms of profitability, Shree Cement’s Q2 margin of 19 percent, while slightly missing analysts’ estimates of 19.5 percent, was significantly higher than its Q2 FY23 margin of 13.8 percent. Additionally, the company’s capacity utilization increased from 65 percent to 71 percent YoY, indicating improved operational efficiency.

Shree Cement also witnessed positive trends in its product sales, with premium products accounting for a larger share of total sales, increasing from 7.5 percent to 9.5 percent YoY. Furthermore, the company reported a noteworthy 10 percent growth in volume on a yearly basis, reflecting its ability to maintain a strong market presence despite the challenging economic landscape.