Financials Shree Cement Limited

Stocks

SHREECEM

INE070A01015

Construction Materials

Market Closed - NSE India S.E. Other stock markets 12:05:10 10/07/2026 BST			5-day change	1st Jan Change
26,615.00 ^INR	+1.22%		-0.56%	+0.15%

05-07	Emkay Global Downgrades Shree Cement to Add from Buy; Price Target is INR27,500	MT
05-07	Jefferies Adjusts Shree Cement's Price Target to INR27,600 From INR27,530, Keeps at Hold	MT

Projected Income Statement: Shree Cement Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	125,884	143,059	168,375	195,855	180,373	193,105	212,689	232,171
Change	-	13.64%	17.7%	16.32%	-7.9%	7.06%	10.14%	9.16%
EBITDA ¹	39,547	36,478	29,423	43,635	38,368	41,912	45,277	52,942
Change	-	-7.76%	-19.34%	48.31%	-12.07%	9.24%	8.03%	16.93%
EBIT ¹	28,148	26,114	13,961	27,489	10,288	18,593	23,203	29,088
Change	-	-7.23%	-46.54%	96.9%	-62.58%	80.73%	24.79%	25.36%
Interest Paid ¹	-2,471	-2,178	-2,689	-2,643	-2,086	-2,077	-2,385	-2,167
Earnings before Tax (EBT) ¹	30,257	29,309	15,586	30,456	13,974	22,484	27,008	33,501
Change	-	-3.13%	-46.82%	95.4%	-54.12%	60.91%	20.12%	24.04%
Net income ¹	23,119	23,766	13,281	24,684	11,962	17,062	20,454	25,282
Change	-	2.8%	-44.12%	85.86%	-51.54%	42.64%	19.88%	23.6%
Announcement Date	21/05/21	21/05/22	22/05/23	14/05/24	14/05/25	06/05/26	-	-

¹INR in Million

Estimates

Fiscal Period: March	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	23,258	30,224	33,094	39,308	34,495	32,059	35,518	40,988	42,027	37,809	40,688	47,851	49,991	45,846	49,008	51,010	48,347	37,270	42,355	52,402	49,480	43,075	47,952	53,392	55,059	46,855	52,104	60,574
Change	-	29.95%	9.5%	18.78%	-12.24%	-7.06%	10.79%	15.4%	2.54%	-10.04%	7.61%	17.61%	4.47%	-8.29%	6.9%	4.08%	-5.22%	-22.91%	13.64%	23.72%	-5.58%	-12.94%	11.32%	11.35%	3.12%	-14.9%	11.2%	16.26%
EBITDA ¹	7,006	9,880	10,890	11,772	10,135	8,982	8,205	9,106	8,188	5,230	7,080	8,924	9,326	8,700	12,337	13,272	9,164	5,925	9,466	13,813	12,291	9,543	9,764	11,872	11,280	7,135	8,651	13,552
Change	-	41.02%	10.22%	8.1%	-13.9%	-11.38%	-8.65%	10.98%	-10.08%	-36.12%	35.36%	26.06%	4.5%	-6.71%	41.8%	7.58%	-30.96%	-35.34%	59.75%	45.92%	-11.02%	-22.35%	2.31%	21.59%	-4.99%	-36.75%	21.25%	56.66%
EBIT ¹	4,292	7,094	7,983	8,779	7,810	6,477	5,684	6,093	4,909	1,602	2,944	4,505	6,241	5,386	8,871	6,991	2,736	-761.2	1,970	6,343	6,766	3,101	4,147	5,109	5,997	2,812	4,329	9,340
Change	-	65.26%	12.54%	9.96%	-11.03%	-17.07%	-12.23%	7.18%	-19.43%	-67.36%	83.72%	53.04%	38.52%	-13.71%	64.71%	-21.19%	-60.87%	-127.83%	358.79%	222.02%	6.67%	-54.18%	33.74%	23.21%	17.37%	-53.1%	53.92%	115.78%
Charge d'intérêts ¹	-	-627.4	-585.2	-552.8	-535.2	-555.7	-551.4	-535.5	-573.3	-675.6	-714.3	-726.1	-753.3	-681.3	-561.1	-647.6	-573	-567	-528.6	-416.9	-445.6	-482.5	-482.5	-560	-	-	-	-
Earnings before Tax (EBT) ¹	4,831	7,490	8,466	9,469	8,667	7,420	6,284	6,938	4,120	2,493	3,842	5,132	7,105	5,965	9,664	7,722	3,508	447.6	2,590	7,428	8,331	4,593	4,736	6,722	5,550	-	-	-
Change	-	55.04%	13.03%	11.85%	-8.48%	-14.38%	-15.31%	10.4%	-40.62%	-39.49%	54.13%	33.58%	38.44%	-16.04%	62%	-20.09%	-54.57%	-87.24%	478.64%	186.78%	12.17%	-44.87%	3.11%	41.92%	-17.44%	-	-	-
Net income ¹	3,708	5,472	6,262	7,676	6,617	5,777	4,920	6,452	3,156	1,896	2,768	5,462	5,811	4,913	7,342	6,618	3,177	931.3	2,294	5,560	6,185	3,612	3,485	5,016	4,383	-	-	-
Change	-	47.59%	14.43%	22.58%	-13.8%	-12.7%	-14.84%	31.14%	-51.09%	-39.91%	45.98%	97.35%	6.39%	-15.45%	49.44%	-9.87%	-51.99%	-70.69%	146.33%	142.35%	11.25%	-41.61%	-3.52%	43.96%	-12.63%	-	-	-
Announcement Date	10/08/20	11/11/20	30/01/21	21/05/21	09/08/21	29/10/21	04/02/22	21/05/22	28/07/22	14/10/22	08/02/23	22/05/23	26/07/23	07/11/23	31/01/24	14/05/24	06/08/24	11/11/24	30/01/25	14/05/25	04/08/25	-	-	-	-	-	-	-

¹INR in Million

Estimates

Fiscal Period: March	2022 S1	2025 S1
Net sales ¹	66,554	85,617
Change	-	28.64%
EBITDA ¹	19,117	15,089
Change	-	-21.07%
EBIT	-	-
Change	-	-
Charge d'intérêts	-	-
Earnings before Tax (EBT)	16,087	-
Change	-	-
Net income	12,394	-
Change	-	-
Announcement Date	29/10/21	11/11/24

¹INR in Million

Estimates

Forecast Balance Sheet: Shree Cement Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	-22,989	-18,090	-12,294	-42,466	-58,570	-66,271	-106,506	-120,939
Change	-	21.31%	32.04%	-245.42%	-37.92%	-13.15%	-17.65%	-13.55%
Announcement Date	21/05/21	21/05/22	22/05/23	14/05/24	14/05/25	06/05/26	-	-

¹INR in Million

Estimates

Cash Flow Forecast: Shree Cement Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	9,924	19,694	28,053	27,568	34,727	14,189	19,266	24,857
Change	-	98.46%	42.44%	-1.73%	25.97%	-59.14%	-24.1%	29.02%
Free Cash Flow (FCF) ¹	31,012	7,534	-1,010	5,468	15,903	20,739	23,541	26,229
Change	-	-75.71%	-113.4%	641.67%	190.82%	30.41%	42.04%	11.42%
Announcement Date	21/05/21	21/05/22	22/05/23	14/05/24	14/05/25	06/05/26	-	-

¹INR in Million

Estimates

Forecast Financial Ratios: Shree Cement Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	31.42%	25.5%	17.47%	22.28%	21.27%	21.7%	21.29%	22.8%
EBIT Margin (%)	22.36%	18.25%	8.29%	14.04%	5.7%	9.63%	10.91%	12.53%
EBT Margin (%)	24.04%	20.49%	9.26%	15.55%	7.75%	11.64%	12.7%	14.43%
Net margin (%)	18.37%	16.61%	7.89%	12.6%	6.63%	8.84%	9.62%	10.89%
FCF margin (%)	24.64%	5.27%	-0.6%	2.79%	8.82%	10.74%	11.07%	11.3%
FCF / Net Income (%)	134.14%	31.7%	-7.6%	22.15%	132.94%	121.55%	115.09%	103.74%
Profitability
ROA	11.45%	10.69%	5.4%	9.27%	4.34%	5.9%	5.7%	7.35%
ROE	16.4%	14.62%	7.47%	12.77%	5.75%	7.8%	8.79%	10.03%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	7.88%	13.77%	16.66%	14.08%	19.25%	7.35%	9.06%	10.71%
CAPEX / EBITDA (%)	25.09%	53.99%	95.34%	63.18%	90.51%	33.85%	42.55%	46.95%
CAPEX / FCF (%)	32%	261.39%	-2,778.87%	504.15%	218.37%	68.42%	81.84%	94.77%
Items per share
Cash flow per share ¹	1,135	766.1	749.5	915.6	1,403	968.1	1,144	1,372
Change	-	-32.48%	-2.16%	22.16%	53.26%	-31.01%	4.65%	19.97%
Dividend per Share ¹	60	90	100	105	110	150	155.9	168.9
Change	-	50%	11.11%	5%	4.76%	36.36%	14.96%	8.31%
Book Value Per Share ¹	4,227	4,787	5,069	5,650	5,879	6,239	6,650	7,209
Change	-	13.25%	5.89%	11.46%	4.06%	6.13%	6.66%	8.4%
EPS ¹	640.8	668.7	368.1	684.1	331.5	472.9	567	700.8
Change	-	4.36%	-44.95%	85.86%	-51.54%	42.64%	17.33%	23.6%
Nbr of stocks (in thousands)	36,081	36,081	36,081	36,081	36,081	36,081	36,081	36,081
Announcement Date	21/05/21	21/05/22	22/05/23	14/05/24	14/05/25	06/05/26	-	-