SHREDIGCEM
Shree Digvijay Cement Co.Ltd share price & financials
- Price
- ₹73.32
- Market cap
- ₹1.0k Cr
- Sector
- Construction Materials
- Calls analysed
- 1
Sh. Digvijay Cem Q4 FY26 Business Update & Integration Call Analysis
What went well
- Strategic integration of Hi-Bond Cement effective March 19, 2026, boosting combined installed capacity to 5.2 million tons.
- Combined entity holds a significant market share of 9-10% in Gujarat and 16-17% in the Saurashtra region.
- Management anticipates 8-10% volume growth for Q4 FY26 and aims for 70% capacity utilization by FY27.
What to watch
- EBITDA per metric ton is expected to dip by INR200 due to sourcing clinker from the market for additional volumes.
- Anticipated cost increase in Q1 FY27 due to potential supply chain disruptions, although Q4 FY26 costs are expected to be stable.
What Shree Digvijay Cement Co.Ltd does
Shree Digvijay Cement Company Limited manufactures and sells cement from its registered works at Digvijaygram (Via Jamnagar, Gujarat). In FY2024-25 the company commissioned a new cement grinding plant at Sikka, Gujarat, which raised installed capacity from 1.5 million tonnes to 3 million tonnes of cement per annum and is eligible for Government of Gujarat investment incentives. The company also operates a Waste Heat Recovery Power Plant (WHRPP) at its plant to support production.
Segments
- Cement
- Installed cement capacity
- 3.0 million tonnes/yr (up from 1.5 MTPA after Sikka grinding unit)
- Manufacturing plants
- 2 (Digvijaygram works + Sikka grinding unit, both Gujarat)
- Captive power
- Waste Heat Recovery Power Plant (WHRPP) at the Digvijaygram plant
Guidance record · Q4 FY26
what the last two calls moved 9 tracked 0 delivered 0 missed 9 open- Combined Capacity Utilization open said Q4 FY26 Promised: Reach close to 70% of the capacity utilization in FY ‘27. Q4 FY26: Guidance first issued in this quarter.
All 9 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 72.1%, net profit down 50.5% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 145 | 187 | 216 | 196 | 161 +11% | 183 −2% | 208 −4% | 337 +72% |
| EBITDA | 8 | -0 | 28 | 24 | 19 +140% | 2 +1625% | 25 −10% | 29 +23% |
| Net profit | 0 | -5 | 18 | 14 | 10 +2521% | -7 −44% | 8 −57% | 7 −51% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −23.6% 1Y
1Y: ₹89.66 on 10 Sept 2025 → ₹68.49. High ₹92.21 (30 Oct 2025), low ₹55.48 (23 Mar 2026).
How the price took the results
close before → close after
- Q4 FY26
- +1.4%
- 25 Mar
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 1.1% a year over 3 years, FY23 to FY26. Operating margin narrowed to 9.4%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹725 Cr | ₹792 Cr | ₹725 Cr | ₹749 Cr |
| Operating profit | ₹100 Cr | ₹146 Cr | ₹57 Cr | ₹71 Cr |
| Operating margin | 13.8% | 18.4% | 7.9% | 9.4% |
| Interest | ₹1 Cr | ₹2 Cr | ₹3 Cr | ₹10 Cr |
| Depreciation | ₹36 Cr | ₹35 Cr | ₹30 Cr | ₹31 Cr |
| Net profit | ₹58 Cr | ₹88 Cr | ₹25 Cr | ₹25 Cr |
| Net margin | 8.0% | 11.1% | 3.5% | 3.3% |
| Cash from operations | ₹86 Cr | ₹96 Cr | ₹135 Cr | ₹-411 Cr |
| Free cash flow | ₹66 Cr | ₹37 Cr | ₹-48 Cr | ₹-490 Cr |
| ROCE | 23.0% | 34.0% | 9.0% | 6.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹142 Cr | ₹144 Cr | ₹145 Cr | ₹147 Cr | ₹148 Cr | ₹148 Cr |
| Reserves | ₹169 Cr | ₹168 Cr | ₹180 Cr | ₹234 Cr | ₹217 Cr | ₹218 Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹143 Cr | ₹514 Cr |
| Other liabilities | ₹120 Cr | ₹150 Cr | ₹143 Cr | ₹158 Cr | ₹169 Cr | ₹185 Cr |
| Total liabilities | ₹432 Cr | ₹462 Cr | ₹468 Cr | ₹540 Cr | ₹677 Cr | ₹1.1k Cr |
| Fixed assets | ₹182 Cr | ₹197 Cr | ₹182 Cr | ₹171 Cr | ₹162 Cr | ₹406 Cr |
| Capital work in progress | ₹13 Cr | ₹5 Cr | ₹7 Cr | ₹39 Cr | ₹264 Cr | ₹15 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹2 Cr | ₹2 Cr | ₹3 Cr |
| Other assets | ₹237 Cr | ₹260 Cr | ₹280 Cr | ₹328 Cr | ₹248 Cr | ₹641 Cr |
| Total assets | ₹432 Cr | ₹462 Cr | ₹468 Cr | ₹540 Cr | ₹677 Cr | ₹1.1k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters added +9.05 pp while the public trimmed −7.88 pp. The shareholder count shrank 16% to 81,126.
- Promoters
- 63.7%
- FIIs
- 0.5%
- DIIs
- 1.4%
- Public
- 34.4%
Since Jun 2025
- Promoters +9.05 pp
- Public −7.88 pp
- FIIs −0.60 pp
How it drifted, 12 quarters
Over this window promoters went from 55.1% to 63.7% — +8.6 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 55.1%, FIIs 2.9%, DIIs 0.3%, Public 41.7%.Dec '23: Promoters 55.1%, FIIs 2.9%, DIIs 0.7%, Public 41.3%.Mar '24: Promoters 54.8%, FIIs 2.1%, DIIs 0.5%, Public 42.6%.Jun '24: Promoters 54.8%, FIIs 1.9%, DIIs 0.2%, Public 43.0%.Sep '24: Promoters 54.8%, FIIs 0.8%, DIIs 0.9%, Public 43.5%.Dec '24: Promoters 54.7%, FIIs 0.6%, DIIs 1.0%, Public 43.7%.Mar '25: Promoters 54.7%, FIIs 1.1%, DIIs 1.1%, Public 43.1%.Jun '25: Promoters 54.7%, FIIs 1.1%, DIIs 2.0%, Public 42.3%.Sep '25: Promoters 54.7%, FIIs 0.4%, DIIs 2.3%, Public 42.7%.Dec '25: Promoters 45.1%, FIIs 1.0%, DIIs 4.0%, Public 49.8%.Mar '26: Promoters 59.2%, FIIs 0.4%, DIIs 1.3%, Public 39.1%.Jun '26: Promoters 63.7%, FIIs 0.5%, DIIs 1.4%, Public 34.4%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- India Resurgence Fund 2-Scheme 2 +4.04 pp 48.59% held
- India Resurgence Fund - Scheme 1 +0.82 pp 11.61% held
The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Shree Digvijay Cement Co.Ltd above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| India Resurgence Fund 2-Scheme 2 | 48.59% | +4.04 pp |
| India Resurgence Fund - Scheme 1 | 11.61% | +0.82 pp |
| India Resurgence Fund 2 - Scheme 4 | 3.51% | −0.35 pp |
| Hitesh Ramji Javeri | 1.50% | unchanged |
| True North Fund Vi LLP | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Shree Digvijay Cement Co.Ltd
Guides on how to read this kind of business and the numbers that matter.