Shree Cement Limited (SHREECEM)

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Shree Cement Limited (SHREECEM) · mywealthgrid

About

Shree Cement Limited manufactures cement and cement products. With a market cap of ₹89,509.95 Cr and quarterly revenues between ₹4.3–6.2 Cr, it maintains operating margins near 22%. Regular dividend payouts across FY2024–2026 indicate established cash generation.

Face value: ₹10

Market cap

₹79,059 Cr

P/E

48.5×

P/B

3.4×

Dividend yield

ROE

7.8%

ROCE

10.6%

Debt / equity

0.07

OPM

22.1%

EPS (TTM)

₹451.8

Book value

₹6,448.9

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

ROE of 7.78% signals weak capital efficiency; verify whether this reflects a cyclical trough or structural constraint
Recent margin compression: Q2 FY2026 operating margins at 19–20% versus the 22% headline; verify whether input-cost inflation, competitive pricing, or demand composition drove the decline
Revenue across recent quarters (₹4.3–6.2 Cr) shows no clear uptrend; verify whether this reflects seasonal patterns or underlying demand softness
PE of 54.91 appears elevated relative to recent quarterly EPS (₹121–146); verify if this reflects forward growth priced in or valuation concern

Generated analysis · source review pending

Growth drivers

Low leverage (D/E 0.07) provides financial capacity for capex if management pursues expansion; verify if growth capex plans are communicated
Consistent dividend payouts (FY2024–2026) evidence strong cash generation; retained profits can fund operational improvements or reinvestment
Recent OPM decline (Q2 FY2026: 19–20% vs. 22% headline) could reverse if underlying cost or competitive pressure eases; verify the drivers and likelihood of recovery

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹21,900.00%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 22.1%
+Almost debt-free (debt/equity 0.1)
+Comfortable interest coverage of 11.8×
+Dividend payout of 46.5% of profit
+High promoter holding of 62.6% with no pledge

Cons

−Low return on equity of 8.4% (3-yr avg)
−Profit declined 5.3% a year over the last 5 years
−Modest revenue growth of 9.2% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

43/100

Business quality: 52
Growth

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MIDCAP 150 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	9,662	10,160	12,868	13,476	15,010	17,852	20,521	19,283	20,943
COGS	627	770	990	1,070	1,038	1,432	1,570	2,008	2,160
Gross profit	9,034	9,389	11,878	12,407	13,971	16,420	18,951	17,275	18,783
	—	—	8,119	8,355	10,263	13,460	14,434	13,341	14,146
	—	—	3,759	4,051	3,708	2,960	4,517	3,934	4,638
OPM %	—	—	29.2%	30.1%	24.7%	16.6%	22%	20.4%	22.1%
Depreciation	1,215	899	1,808	1,262	1,146	1,661	1,897	3,007	2,794
Interest	129	135	291	251	216	263	258	205	212
	362	389	274	466	546	459	598	589	661
Profit before tax	1,531	1,827	1,934	3,004	2,892	1,495	2,959	1,312	2,293
Tax	190	443	390	714	555	226	563	188	544
Tax %	12.4%	24.2%	20.2%	23.8%	19.2%	15.1%	19%	14.3%	23.7%
	1,339	1,384	1,544	2,290	2,337	1,269	2,396	1,124	1,749
PAT margin %	13.9%	13.6%	12%	17%	15.6%	7.1%	11.7%	5.8%	8.4%
EPS (₹)	384.4	397.3	435.4	633.5	646.3	352.2	664	311.2	483.2
EPS adjusted (₹)	384.4	397.3	425.7	633.6	646.3	352.2	664	311.2	483.3
	10.4%	12.6%	25.3%	9.5%	13.9%	12.8%	24.1%	35.3%	31%
Annual report	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	35	35	35	35	36	36	36	36	36	36	36
Reserves	5,828	6,811	8,862	9,636	13,133	15,361	17,424	18,600	20,667	21,502	23,231
Minority interest	—	—	—	62	69	51	50	41	41	41	47
	604	726	3,394	2,782	2,349	2,134	2,014	2,540	1,475	817	1,594
	2,088	1,891	2,851	2,978	4,357	3,931	4,224	5,117	5,735	6,096	6,568
Total equity & liabilities	8,555	9,463	15,142	15,493	19,944	21,513	23,749	26,334	27,953	28,492	31,476
	2,934	3,057	3,589	6,182	5,751	5,775	6,781	7,481	9,591	9,315	11,207
CWIP	511	265	1,427	1,129	1,197	997	1,054	2,797	1,930	3,796	1,466
Investments	2,232	3,030	5,434	2,286	6,358	8,501	9,033	8,683	7,556	7,849	10,272
	2,878	3,111	4,691	5,896	6,639	6,241	6,881	7,373	8,877	7,532	8,531
Total assets	8,555	9,463	15,142	15,493	19,944	21,513	23,749	26,334	27,953	28,492	31,476

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	92.4%	92.3%	92.1%	93.1%	92%	92.4%	89.6%	89.7%
EBITDA margin %	—	29.2%	30.1%	24.7%	16.6%	22%	20.4%	22.1%
EBIT margin %	—	15.2%	20.7%	17.1%	7.3%	12.8%	4.8%	8.8%
PAT margin %	13.6%	12%	17%	15.6%	7.1%	11.7%	5.8%	8.4%
Working capital
Receivable days	16	31	18	19	25	23	27	32
Inventory days	743	631	585	878	703	827	444	469
Payable days	345	242	301	2	305	282	247	274
NWC days	415	420	303	895	423	567	223	227
Leverage
Current ratio	1.92	1.97	1.84	1.81	1.33	1.99	2.1	2.16
Debt to EBITDA	—	0.62	0.53	0.54	0.86	0.33	0.21	0.34
Debt to equity	0.38	0.18	0.14	0.12	0.14	0.07	0.04	0.07
Interest coverage	-3.8	7.6	13	14.4	6.7	12.5	7.4	11.8
Asset turnover	0.67	0.65	0.63	0.63	0.68	0.73	0.68	0.67
Return ratios
Return on assets %	9.1%	7.7%	10.6%	9.8%	4.8%	8.6%	3.9%	5.6%
Return on capital employed %	-5%	15.8%	19.7%	17.2%	9.1%	15.5%	6.8%	10.6%
Return on equity %	15.6%	11.7%	14.9%	13.4%	6.8%	11.6%	5.2%	7.5%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	62.55%	62.55%	62.55%	62.55%	62.55%	62.55%	62.55%	62.55%	62.55%	62.55%	62.55%	62.55%
	12.21%	12.3%	12.48%	11.85%	10.39%	9.88%	9.71%	10.07%	10.33%	10.08%	8.93%	8.22%
	12.56%	12.55%	12.34%	13.02%	14.46%	15.02%	15.32%	14.89%	14.4%	14.59%	15.78%	16.42%
	0%	0%	0%	0%	0%	0%	0%	0%	0.25%	0.25%	0.25%	0.25%
	12.68%	12.6%	12.63%	12.58%	12.6%	12.55%	12.42%	12.49%	12.47%	12.53%	12.49%	12.56%
No. of shareholders	—	—	—	—	—	—	—	—	26,178	28,755	29,592	27,345

Promoter holding up 0 percentage points since Sep 2023.

42 deals · 23 Sept 2021 – 14 Oct 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
14 Oct 2025	GOLDMAN SACHS BANK EUROPE SE - ODI	Block	NSE	Buy	4,836	₹29,530.00	₹14.28 Cr
14 Oct 2025	GOLDMAN SACHS (SINGAPORE) PTE - ODI	Block	NSE	Sell	4,836	₹29,530.00	₹14.28 Cr
13 Oct 2025	GOLDMAN SACHS (SINGAPORE) PTE - ODI	Block	NSE	Sell	4,837	₹29,630.00	₹14.33 Cr
13 Oct 2025	GOLDMAN SACHS BANK EUROPE SE - ODI	Block	NSE	Buy	4,837	₹29,630.00	₹14.33 Cr
25 Jan 2024	SOCIETE GENERALE	Block	BSE	Buy	26,774	₹27,635.15	₹73.99 Cr
25 Jan 2024	BNP PARIBAS ARBITRAGE	Block	BSE	Sell	26,774	₹27,635.15	₹73.99 Cr
14 Nov 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	NSE	Buy	17,710	₹22,864.00	₹40.49 Cr
14 Nov 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	NSE	Sell	17,710	₹22,864.00	₹40.49 Cr
3 Nov 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	NSE	Buy	17,711	₹22,327.20	₹39.54 Cr
3 Nov 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	NSE	Sell	17,711	₹22,327.20	₹39.54 Cr

1–10 of 42

1 / 5

Mr. Hari Mohan BangurExecutive Director-Chairperson related to Promoter
Mr. Prashant BangurExecutive Director
Mr. Neeraj AkhouryExecutive Director-MD
Ms. Uma GhurkaNon-Executive - Independent Director
Mr. Zubair AhmedNon-Executive - Independent Director
Mr. Sushil Kumar RoongtaNon-Executive - Independent Director
Mr. Chandra Kumar DhanukaNon-Executive - Independent Director
Mr. Subhash JajooChief Finance Officer
Mr. S S KhandelwalCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹22,345.0 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹22,140.0	+205	+0.9%	₹22,140.0	15,758	+50	940	25
23 Nov 2026	₹21,975.0	+170	+0.8%	₹21,975.0	383	+39	72	25
29 Dec 2026	₹22,230.0	0	0%	₹22,697.6	0	0	0	25

Open the chart icon on a row for that contract's close over 103 stored sessions, with open interest as bars beneath it.

38

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
0	0	0	₹0.0	20,750

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 14 fund houses

Held by these funds

9.58%

of the company's equity

All mutual funds

11.69%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

92 schemes · 14 fund houses

		Shares
Large Cap Fund	SBI Mutual Fund	4.75 L	1,101.07	2%	1.315%	-0
Aggressive Hybrid FundNEW	SBI Mutual Fund	3.51 L	813.28	0.92%	0.971%	—
Large and Midcap Fund	SBI Mutual Fund	3.35 L	777.2	1.84%	0.928%	-0
Growth Mid Cap FundNEW	Nippon India Mutual Fund	2.7 L	627.15	1.2%	0.749%	—
Midcap Fund	SBI Mutual Fund	2.5 L	580	2.37%	0.693%	-0
Large Cap Fund	ICICI Prudential Mutual Fund	2.33 L	539.7	0.67%	0.644%	-0
Large & Mid Cap Fund	ICICI Prudential Mutual Fund	1.88 L	435.59	1.3%	0.52%	-0
LARGE CAP FUND	Nippon India Mutual Fund	1.81 L	420.48	0.78%	0.502%	-0

1–8 of 92

1 / 12

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

24 announcementsExport CSV

28 Sept 2026, 5:56 pmCompany Update

Announcement under Regulation 30 (LODR)-Credit Rating

Credit Rating PDF

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Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	92.4%	92.3%	92.1%	93.1%	92%	92.4%	89.6%	89.7%
EBITDA margin %	—	29.2%	30.1%	24.7%	16.6%	22%	20.4%	22.1%
EBIT margin %	—	15.2%	20.7%	17.1%	7.3%	12.8%	4.8%	8.8%
PAT margin %	13.6%	12%	17%	15.6%	7.1%	11.7%	5.8%	8.4%
Working capital
Receivable days	16	31	18	19	25	23	27	32
Inventory days	743	631	585	878	703	827	444	469
Payable days	345	242	301	2	305	282	247	274
NWC days	415	420	303	895	423	567	223	227
Leverage
Current ratio	1.92	1.97	1.84	1.81	1.33	1.99	2.1	2.16
Debt to EBITDA	—	0.62	0.53	0.54	0.86	0.33	0.21	0.34
Debt to equity	0.38	0.18	0.14	0.12	0.14	0.07	0.04	0.07
Interest coverage	-3.8	7.6	13	14.4	6.7	12.5	7.4	11.8
Asset turnover	0.67	0.65	0.63	0.63	0.68	0.73	0.68	0.67
Return ratios
Return on assets %	9.1%	7.7%	10.6%	9.8%	4.8%	8.6%	3.9%	5.6%
Return on capital employed %	-5%	15.8%	19.7%	17.2%	9.1%	15.5%	6.8%	10.6%
Return on equity %	15.6%	11.7%	14.9%	13.4%	6.8%	11.6%	5.2%	7.5%

Calls	Strike	Puts
0	0	0	₹0.0	20,750

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Ambuja Cements LimitedAMBUJACEMAMBUJACEM	₹90,012 Cr	₹90,065 Cr	₹39,867 Cr	₹6,167 Cr	16.1%	₹4,377 Cr	13.9%	5.3%	8.4%	37
Shree Cement LimitedSHREECEMSHREECEM	₹79,059 Cr	₹80,653 Cr	₹21,896 Cr	₹4,577 Cr	22.1%	₹1,630 Cr	8.4%	10.6%	7.8%	227
Jk Cement LimitedJKCEMENTJKCEMENT	₹38,279 Cr	₹44,353 Cr	₹14,401 Cr	₹2,334 Cr	17.3%	₹946 Cr	7.2%	14.3%	15.1%	71
Dalmia Bharat LimitedDALBHARATDALBHARAT	₹31,556 Cr	₹38,308 Cr	₹15,058 Cr	₹3,005 Cr	20.8%	₹409 Cr	7.8%	7.4%	6.4%	5
Acc LimitedACCACC	₹22,213 Cr	₹22,213 Cr	₹25,369 Cr	₹2,629 Cr	11.4%	₹1,909 Cr	8.2%	10.8%	10.9%	32
The Ramco Cements LimitedRAMCOCEMRAMCOCEM	₹19,633 Cr	₹23,485 Cr	₹9,228 Cr	₹1,345 Cr	15.9%	₹645 Cr	7.7%	6.1%	9%	-0
Jsw Cement LimitedJSWCEMENTJSWCEMENT	₹15,216 Cr	₹19,297 Cr	₹6,849 Cr	₹1,216 Cr	19%	₹760 Cr	-12.3%	10.1%	-11.5%	-140
Nuvoco Vistas Corporation LimitedNUVOCONUVOCO	₹11,505 Cr	₹16,046 Cr	₹11,594 Cr	₹1,907 Cr	16.4%	₹386 Cr	3.2%	7.1%	3.7%	-130
The India Cements LimitedINDIACEMINDIACEM	₹9,147 Cr	₹10,452 Cr	₹4,479 Cr	₹469 Cr	8.8%	₹92 Cr	-1.5%	1.5%	-0.7%	-28
Star Cement LimitedSTARCEMENTSTARCEMENT	₹7,211 Cr	₹7,797 Cr	₹3,807 Cr	₹902 Cr	24.8%	₹370 Cr	10.3%	17%	13%	177
Birla Corporation LimitedBIRLACORPNBIRLACORPN	₹6,383 Cr	₹9,658 Cr	₹9,848 Cr	₹1,450 Cr	15.1%	₹554 Cr	5.8%	8.8%	7.8%	63
Jk Lakshmi Cement LimitedJKLAKSHMIJKLAKSHMI	₹5,915 Cr	₹8,406 Cr	₹6,926 Cr	₹958 Cr	15%	₹370 Cr	6.1%	12.1%	11.2%	57

Date	Category	Subject	Filing
28 Sept 2026, 5:56 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF
17 Sept 2026, 1:30 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
17 Sept 2026, 1:13 pm	Board Meeting	Board Meeting Intimation for Consideration And Approval Of Un-Audited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ending On 30Th September, 2026	PDF
7 Sept 2026, 1:14 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF
4 Sept 2026, 1:29 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF
20 Aug 2026, 1:28 pm	Company Update General	Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 - ESG Ratings	PDF
3 Aug 2026, 7:10 pm	Company Update Demise	Announcement under Regulation 30 (LODR)-Demise	PDF
1 Aug 2026, 5:46 pm	AGM/EGM AGM	Voting Results Of The 47Th Annual General Meeting (AGM) Of The Company	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,566	2,202	1,879	2,080	3,973	4,254	2,668	2,569	3,347	4,920	3,794
	-1,265	-2,048	-3,595	-722	-5,599	-2,645	-2,151	-2,414	-1,418	-3,728	-3,740
	-271	-167	1,726	-1,276	1,581	-1,233	-849	-277	-1,710	-1,296	-110
Net cash flow	31	-13	10	83	-44	376	-333	-122	219	-104	-55
Free cash flow	831	921	-646	146	—	3,132	452	-723	207	827	1,928
CFO / Operating profit %	—	—	—	—	105.7%	105%	72%	86.8%	74.1%	125.1%	81.8%

Shree Cement Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

3

38

Fund holders

Documents

Announcements

Events

Announcements

3

38

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

1

37

2

Compounded sales growth

Compounded profit growth

Return on equity

Shree Cement Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Futures3

Option chain38

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Futures3

Option chain38

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Upcoming and recent1

Dividends37

Board meetings2

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

3

38

3

38

1

37

2