SHREECEM
Shree Cement share price & financials
- Price
- ₹25,075
- Market cap
- ₹93.8k Cr
- Sector
- Construction Materials
- Calls analysed
- 5
Shree Cement Limited Q1 FY27
What went well
- Consolidated volume grew by 14.96% YoY to 114.5 lakh tons in Q1 FY27, up from 99.6 lakh tons in Q1 FY26.
- Indian operations realization improved to INR 4,919 per MT in Q1 FY27 compared to INR 4,854 per MT in June '25.
- Management believes fuel prices have almost peaked in Q1 FY27 at 1.95 per kcal, with expectations for stabilization or decline.
What to watch
- Consolidated EBITDA per ton declined by 17.02% YoY to INR 1,111 per ton in Q1 FY27 from INR 1,339 per ton in Q1 FY26.
- The clinker factor reduced to 1.50 in Q1 FY27 from 1.58 in the corresponding quarter last year, impacting conversion efficiency.
What Shree Cement Limited does
Shree Cement manufactures and sells cement across India, earning revenue from construction, infrastructure and housing markets through a pan-India distribution network of dealers and distributors under a multi-brand strategy. It operates six integrated cement plants and ten grinding units, and generates its own captive power, including at the Shree Mega Power Plant in Beawar, Rajasthan. The company also holds an international cement manufacturing subsidiary, Union Cement Company, in the UAE.
- Installed cement production capacity
- 56.40 MTPA (FY2024-25)
- Integrated cement plants
- 6
- Grinding units
- 10 (excluding subsidiary-operated plants)
- Captive power plant
- Shree Mega Power Plant, Beawar, Rajasthan
- Permanent workforce
- 7,022 employees (including differently-abled)
- R&D facilities
- 4 locations, DSIR-approved
Guidance record · Q1 FY27
what the last two calls moved 21 tracked 1 delivered 5 missed 15 open- Q4 FY26 Sales Volume delivered said Q3 FY26 Promised: 9 million to 9.5 million tons Q1 FY27: Promise concluded in prior fiscal year.
- Total Sales Volume FY26 missed said Q4 FY25 Promised: 39 million tons / 6.5% to 7.5% growth Q1 FY27: Promise concluded in prior fiscal year.
- Number of RMC Units at risk said Q4 FY25 Promised: At least 50-odd RMC units over a period of time Q1 FY27: Management reported 26 operational plants, contradicting the 36 plants reported at the start of FY27. This discrepancy puts the expansion target at risk.
All 21 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 13.6%, net profit down 29.2% 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 | 3,727 | 4,235 | 5,240 | 4,948 | 4,303 +15% | 4,416 +4% | 5,643 +8% | 5,623 +14% |
| EBITDA | 593 | 947 | 1,381 | 1,229 | 851 +44% | 861 −9% | 1,250 −9% | 1,074 −13% |
| Net profit | 93 | 229 | 556 | 619 | 277 +198% | 279 +22% | 532 −4% | 438 −29% |
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 −24.5% 1Y
1Y: ₹29,890 on 10 Sept 2025 → ₹22,570. High ₹30,010 (16 Oct 2025), low ₹22,570 (11 Sept 2026).
How the price took the results
close before → close after
- Q1 FY27
- −1.5%
- 31 Jul
- Q4 FY26
- +0.5%
- 6 May
- Q3 FY26
- +0.4%
- 6 Feb
- Q2 FY26
- −0.0%
- 28 Oct
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 3.3% a year over 3 years, FY23 to FY26. Operating margin widened to 21.7%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹17.5k Cr | ₹19.5k Cr | ₹18.0k Cr | ₹19.3k Cr |
| Operating profit | ₹3.0k Cr | ₹4.4k Cr | ₹3.8k Cr | ₹4.2k Cr |
| Operating margin | 16.9% | 22.4% | 21.3% | 21.7% |
| Interest | ₹264 Cr | ₹264 Cr | ₹209 Cr | ₹209 Cr |
| Depreciation | ₹1.6k Cr | ₹1.6k Cr | ₹2.8k Cr | ₹2.3k Cr |
| Net profit | ₹1.3k Cr | ₹2.5k Cr | ₹1.2k Cr | ₹1.7k Cr |
| Net margin | 7.4% | 12.7% | 6.6% | 8.8% |
| Cash from operations | ₹2.7k Cr | ₹3.3k Cr | ₹5.1k Cr | ₹3.5k Cr |
| Free cash flow | ₹-58 Cr | ₹498 Cr | ₹1.6k Cr | ₹2.0k Cr |
| ROCE | 9.0% | 15.0% | 7.0% | 11.0% |
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 | ₹36 Cr | ₹36 Cr | ₹36 Cr | ₹36 Cr | ₹36 Cr | ₹36 Cr |
| Reserves | ₹15.2k Cr | ₹17.2k Cr | ₹18.3k Cr | ₹20.3k Cr | ₹22.4k Cr | ₹22.5k Cr |
| Borrowings | ₹2.2k Cr | ₹2.2k Cr | ₹2.8k Cr | ₹1.8k Cr | ₹2.1k Cr | ₹1.8k Cr |
| Other liabilities | ₹3.6k Cr | ₹3.9k Cr | ₹4.7k Cr | ₹5.3k Cr | ₹5.6k Cr | ₹5.8k Cr |
| Total liabilities | ₹21.0k Cr | ₹23.4k Cr | ₹25.8k Cr | ₹27.4k Cr | ₹30.2k Cr | ₹30.1k Cr |
| Fixed assets | ₹4.2k Cr | ₹5.3k Cr | ₹5.3k Cr | ₹7.1k Cr | ₹9.3k Cr | ₹8.4k Cr |
| Capital work in progress | ₹971 Cr | ₹973 Cr | ₹2.3k Cr | ₹1.8k Cr | ₹3.6k Cr | ₹1.1k Cr |
| Investments | ₹11.1k Cr | ₹11.5k Cr | ₹11.7k Cr | ₹10.7k Cr | ₹8.7k Cr | ₹14.1k Cr |
| Other assets | ₹4.8k Cr | ₹5.6k Cr | ₹6.5k Cr | ₹7.8k Cr | ₹8.7k Cr | ₹6.6k Cr |
| Total assets | ₹21.0k Cr | ₹23.4k Cr | ₹25.8k Cr | ₹27.4k Cr | ₹30.2k Cr | ₹30.1k 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, FIIs trimmed −1.86 pp while DIIs added +1.77 pp. The shareholder count grew 7% to 27,345.
- Promoters
- 62.6%
- FIIs
- 8.2%
- DIIs
- 16.4%
- Government
- 0.3%
- Public
- 12.6%
Since Jun 2025
- FIIs −1.86 pp
- DIIs +1.77 pp
- Public +0.09 pp
How it drifted, 12 quarters
Over this window DIIs went from 12.4% to 16.4% — +4.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 62.6%, FIIs 12.2%, DIIs 12.4%, Government 0.2%, Public 12.7%.Dec '23: Promoters 62.6%, FIIs 12.3%, DIIs 12.4%, Government 0.2%, Public 12.6%.Mar '24: Promoters 62.6%, FIIs 12.5%, DIIs 12.1%, Government 0.2%, Public 12.6%.Jun '24: Promoters 62.6%, FIIs 11.8%, DIIs 12.8%, Government 0.2%, Public 12.6%.Sep '24: Promoters 62.6%, FIIs 10.4%, DIIs 14.2%, Government 0.2%, Public 12.6%.Dec '24: Promoters 62.6%, FIIs 9.9%, DIIs 14.8%, Government 0.3%, Public 12.5%.Mar '25: Promoters 62.6%, FIIs 9.7%, DIIs 15.1%, Government 0.3%, Public 12.4%.Jun '25: Promoters 62.6%, FIIs 10.1%, DIIs 14.7%, Government 0.3%, Public 12.5%.Sep '25: Promoters 62.6%, FIIs 10.3%, DIIs 14.4%, Government 0.3%, Public 12.5%.Dec '25: Promoters 62.6%, FIIs 10.1%, DIIs 14.6%, Government 0.3%, Public 12.5%.Mar '26: Promoters 62.6%, FIIs 8.9%, DIIs 15.8%, Government 0.3%, Public 12.5%.Jun '26: Promoters 62.6%, FIIs 8.2%, DIIs 16.4%, Government 0.3%, Public 12.6%.
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.
- Life Insurance Corporation Of India Insurer +0.24 pp 3.86% held
- ICICI Prudential Mutual Fund Mutual fund +0.06 pp 3.43% held
The same filing shows 1 holder trimming and 0 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 Cement Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Shree Capital Services Ltd | 24.90% | unchanged |
| Digvijay Finlease Limited | 11.74% | unchanged |
| FLT Limited | 9.98% | unchanged |
| Mannakrishna Investments Pvt Ltd | 5.66% | unchanged |
| SBI Mutual Fund Mutual fund | 5.19% | −0.15 pp |
| Life Insurance Corporation Of India Insurer | 3.86% | +0.24 pp |
| Newa Investments Pvt Ltd | 3.81% | unchanged |
| Ragini Finance Private Limited | 3.52% | unchanged |
| ICICI Prudential Mutual Fund Mutual fund | 3.43% | +0.06 pp |
| Didu Investments Pvt Ltd | 3.25% | unchanged |
| N.B.I. Industrial Finance Company Ltd | 2.91% | unchanged |
| Harimohan Bangur | 1.35% | unchanged |
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.
Mutual funds in SHREECEM
Filings to Aug 2026
2 new, 8 added, 3 trimmed, 0 sold out — net −0.22 L shares (−1.0%).
- Held by funds
- ₹5.1k Cr
- 25 schemes
- Biggest holder
- SBI Large Cap Fund
- ₹1.1k Cr · 2.0% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Large Cap Fund SBI Mutual Fund | ₹1.1k Cr | held | Aug '21 |
| SBI Aggressive Hybrid Fund SBI Mutual Fund | ₹813 Cr | −2.39 L | Aug '21 |
| SBI Large and Midcap Fund SBI Mutual Fund | ₹777 Cr | held | Apr '23 |
| Nippon India Growth Mid Cap Fund Nippon India Mutual Fund | ₹627 Cr | +2.00 L | Jun '26 |
| SBI Midcap Fund SBI Mutual Fund | ₹580 Cr | held | Nov '24 |
| Nippon India Large Cap Fund Nippon India Mutual Fund | ₹420 Cr | held | Jan '25 |
| SBI Infrastructure Fund SBI Mutual Fund | ₹232 Cr | held | Jul '22 |
| SBI ELSS Tax Saver Fund SBI Mutual Fund | ₹150 Cr | held | Nov '22 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
8 added, 3 trimmed — net −22,188 shares (−1.0%)
- Funds are sitting on
- -4%
- vs est. average cost
- Held by funds
- ₹5.1k Cr
- 25 schemes · ≈ 5.9% of the company
- Biggest holder
- SBI Large Cap Fund
- ₹1.1k Cr · 2.0% of that fund
- Longest holder
- Nippon India ETF Nifty 100
- 10y 6m · since Mar '16
Shares held by these funds +65%
Aug '23 22.33 L shares Jul '26
All earnings calls (5)
Read the Q1 FY27 call →Learn to analyse Shree Cement Limited
Guides on how to read this kind of business and the numbers that matter.