Shree Cements Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for SHREECEM, BSE:500387 Shree Cements Ltd.

Shree Cements Ltd.

17 Jan 2018

26460.00

-0.08%

Result Update:Shree Cement

Hold: Shree Cements Ltd.

Target

Axis Direct

Q3FY18 EBITDA at Rs 5.7 bn was up 21% YoY, in line with our and consensus estimates, mainly due to low volume base due to demonetization in Nov 2016. Volume grew 8% YoY at 5.3 mnt.

Number of FII/FPI investors increased from 588 to 605 in Sep 2025 qtr.

Shree Cements Ltd.

15 Jan 2018

26460.00

-0.08%

Shree Cement (3QFY18): Going Global. Maintain NEUTRAL

Neutral: Shree Cements Ltd.

HDFC Securities

We remain cautious, only for valuations (16.6/13.1x FY19/20 EV/EBITDA) and maintain NEUTRAL with a TP of 17,195 (13.5x Dec-19 EV/EBITDA) as more details from the merger emerge. Shree Cement (SRCM) reported an EBITDA of Rs 1,004/t (vs estimate of Rs 1,099/t, 2.9/-10% YoY/QoQ). Costs surprised on the downside, with P&F; (Rs 746/t, 39.9/% YoY/QoQ) and freight costs (Rs 1,117/t, 30.5/3.7% YoY/QoQ) drawing earnings down. SRCM also announced an acquisition of UAE-based Union Cement (3.3/4.0 MTPA clinker/cement capacity). The acquisition marks SRCMs first steps into the global market. The company has been valued at an EV of USD 305.24mn (EV/t of USD 76), and the acquisition will be completed in 1HFY19.

Motilal Oswal released a Neutral report for Shree Cements Ltd. with a price target of 30030.0 on 18 Nov, 2025.

Shree Cements Ltd.

15 Jan 2018

26460.00

-0.08%

Result Review of Shree Cement

Sell: Shree Cements Ltd.

Target

IDBI Capital

The steady-state RoCE of UCC, SRCM's latest target, is unclear. While SRCM's domestic continues to meet our expectations, capital allocation is an area of grey. Moreover, defying the pan-India trend, realizations have been flat. Yet volumes of 5.3mt fail to impress us, given a lower base. With rising pet-coke prices and environmental regulations, the operating profit per ton could be under pressure. Though EBITDA has moved up by a fifth to Rs5.7bn in Q3FY18. We assume the deal goes through. And UCC contributes higher RoCE by FY19. Even then, at the current valuations, assuming de-bottlenecking and inorganic...

Shree Cements Ltd. is trading below all available SMAs

Shree Cements Ltd.

12 Jan 2018

26460.00

-0.08%

Shree Cement

Hold: Shree Cements Ltd.

Target

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research Shree Cement's results were below our estimates. Revenues registered an increase of 23.1% YoY to | 2,296.2 crore (vs. I-direct estimate of | 2302.0 crore) mainly led by 19.4% YoY increase in cement revenues to | 2,193.6 crore and 277.3% YoY increase in power revenues to | 102.6 crore The increase in cement revenues was due to 8.4% YoY increase in volumes to 5.3 MT and 10.1% YoY increase in cement realisations...

Motilal Oswal released a Neutral report for Shree Cements Ltd. with a price target of 30030.0 on 18 Nov, 2025.

Shree Cements Ltd.

12 Jan 2018

26460.00

-0.08%

Shree Cement - 3QFY18 Result Update

Buy: Shree Cements Ltd.

Target

Reliance Securities

Despite cost pressure, Shree Cement (SCL) continued to report healthy operational performance in 3QFY18 with its EBITDA growing by a stellar 22% YoY to Rs5.7bn (vs. our estimate of Rs5.4bn). Though Power & Fuel cost/tonne substantially surged by 40% YoY and 15% QoQ led by soaring fuel prices and ban on petcoke usage in Rajasthan, higher-than-expected average realisation and reversal of Rs403mn pertaining to DMF provisioning aided EBITDA growth. Operating cost/ tonne for cement stood at Rs3,039 (+12% YoY and flat on QoQ). Cement EBITDA/tonne came in at Rs1,080 compared to Rs975 and Rs1,133 in 3QFY17 and in 2QFY18, respectively. Sales volume (including clinker) grew by ~8.5% YoY to 5.33mnT. Net profit stood at Rs3.3bn (+42%...

Shree Cements Ltd. has an average target of 32480.40 from 11 brokers.

Shree Cements Ltd.

12 Jan 2018

26460.00

-0.08%

Shree Cements

Buy: Shree Cements Ltd.

Target

Kotak Securities

Company's revenues for Q3FY18 reported an improvement of 25% YoY, in line with our estimates. Growth in revenues was led by 8.4% YoY improvement in cement volumes and 11.4% YoY jump in cement realizations. Power segment sales have also witnessed drastic improvement on YoY basis. Operating margins stood strong at 24.8% for the quarter and impacted by sharp jump in power and fuel cost and freight cost on YoY basis. Better than...

Shree Cements Ltd. is trading below all available SMAs

Shree Cements Ltd.

12 Jan 2018

26460.00

-0.08%

Shree Cements

Sell: Shree Cements Ltd.

Target

Centrum Broking

Shree Cement's (SRCM) EBITDA recovered 8% YoY in Q3FY18, driven by 8% YoY cement volume growth while power segment delivered EBITDA loss. Rising fuel and freight costs dragged down profits across both the segments. We expect low base effect to turn favourable on YoY basis, in subsequent quarters. While the 4mn MT inorganic acquisition of Union Cement in UAE is at low cost of USD75/MT, weak demand in the GCC region has kept its revenue/EBITDA flat over the past four years and hence we do not see any major positives here. SRCM's valuation remains extremely expensive at 25x/21x/17x its FY18/19/20E EBITDA. We re-iterate SELL with a revised TP of Rs15,650....

Shree Cements Ltd. is trading below all available SMAs

Shree Cements Ltd.

11 Jan 2018

26460.00

-0.08%

Shree Cement : Low-cost acquisition in the UAE aligns well with long-term strategy

Buy: Shree Cements Ltd.

Target

Motilal Oswal

SRCM reported healthy volume growth of 8% YoY, led by a favourable base (3QFY17 was impacted by demonetization). Cement realization fell 1% QoQ to INR4,120/t due to lower prices in its focus markets. Unitary cost increased 14% YoY (3% QoQ) due to higher freight cost/t and P&F cost/t (higher petcoke prices and ban on usage of petcoke). Cement EBITDA/t declined 11% QoQ (+3% YoY) to INR1,003 due to cost push and weaker realizations. Hence, EBITDA increased 13% YoY to INR5.3b in3QFY18. Depreciation fell 34% YoY to INR2.1b, resulting in PBT of INR3.8b(+57% YoY). Tax rate stood at 22% v/s 3.4% in 3QFY17, resulting in adj . PATof INR2.9b (+23% YoY). Reported PAT rose 42% YoY to INR3.33b due to reversal of DMF provision for earlier years

Shree Cements Ltd. is trading below all available SMAs

Shree Cements Ltd.

11 Jan 2018

26460.00

-0.08%

Shree Cement's operating performance is below our estimate, with adjusted EBITDA at Rs4....

Buy: Shree Cements Ltd.

Recommendation Target

Emkay

Shree Cement's operating performance is below our estimate, with adjusted EBITDA at Rs4.7bn (adjusted for subsidies/DMF provision reversal of Rs600mn/Rs400mn) against estimated Rs4.9bn. EBITDA/tonne of cement stood at Rs892 (Emkay Estimate: Rs887). Sales volume of Cement grew by 8.3% yoy to 5.33mt. Realization was up 8.4% yoy. EBITDA from the Cement segment declined by 5% yoy due to higher opex (freight and...

Number of FII/FPI investors increased from 588 to 605 in Sep 2025 qtr.

Is Shree Cements Ltd. worth buying?

213 Votes:

Buy 61.97%

Sell 23.0%

Hold 15.02%

RESEARCH REPORTS

Neutral SEE REPORTS >

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Sell SEE REPORTS >

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