Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹87,297Cr
Rev Gr TTM
Revenue Growth TTM
6.38%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

SHREECEM
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | 16.9 | 14.1 | 18.2 | 20.8 | 5.9 | 1.8 | -15.1 | -11.9 | 2.4 | 3.1 | 17.4 | 5.0 |
| 4,211 | 4,091 | 3,888 | 3,930 | 3,979 | 4,197 | 3,441 | 3,608 | 4,103 | 3,948 | 3,787 | 3,853 |
Operating Profit Operating ProfitCr |
| 17.4 | 18.8 | 18.6 | 24.3 | 26.3 | 18.1 | 15.1 | 21.1 | 25.8 | 25.2 | 20.5 | 19.7 |
Other Income Other IncomeCr | 146 | 169 | 132 | 147 | 150 | 139 | 181 | 111 | 158 | 235 | 179 | 146 |
Interest Expense Interest ExpenseCr | 71 | 74 | 67 | 55 | 62 | 56 | 56 | 52 | 41 | 46 | 51 | 59 |
Depreciation DepreciationCr | 473 | 339 | 412 | 444 | 702 | 704 | 716 | 799 | 788 | 654 | 668 | 710 |
| 491 | 700 | 539 | 913 | 807 | 306 | 23 | 225 | 758 | 868 | 434 | 324 |
| -34 | 128 | 93 | 211 | 131 | 27 | -53 | 31 | 183 | 225 | 124 | 56 |
|
Growth YoY PAT Growth YoY% | -20.3 | 105.1 | 143.7 | 149.0 | 28.7 | -51.3 | -82.8 | -72.4 | -14.9 | 131.2 | 304.3 | 38.2 |
| 10.3 | 11.4 | 9.4 | 13.5 | 12.5 | 5.4 | 1.9 | 4.2 | 10.4 | 12.2 | 6.5 | 5.6 |
| 145.7 | 158.6 | 123.8 | 194.5 | 187.0 | 77.2 | 21.2 | 53.6 | 159.2 | 178.1 | 85.5 | 73.9 |
| Financial Year | Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | | 55.9 | 14.4 | 27.7 | 2.5 | 5.4 | 10.7 | 18.9 | 14.3 | -5.5 | 5.7 |
| 5,110 | 4,107 | 6,081 | 7,360 | 9,761 | 9,109 | 9,480 | 11,302 | 14,893 | 15,910 | 15,349 | 15,692 |
Operating Profit Operating ProfitCr |
| 20.8 | 25.5 | 29.2 | 25.1 | 22.3 | 29.2 | 30.1 | 24.7 | 16.6 | 22.0 | 20.4 | 23.0 |
Other Income Other IncomeCr | 102 | 673 | 362 | 389 | 72 | 274 | 438 | 546 | 459 | 621 | 589 | 718 |
Interest Expense Interest ExpenseCr | 121 | 76 | 129 | 135 | 248 | 291 | 251 | 216 | 263 | 258 | 205 | 197 |
Depreciation DepreciationCr | 925 | 828 | 1,215 | 899 | 1,472 | 1,808 | 1,262 | 1,146 | 1,661 | 1,897 | 3,007 | 2,819 |
| 401 | 1,176 | 1,531 | 1,827 | 1,146 | 1,934 | 3,004 | 2,892 | 1,495 | 2,959 | 1,312 | 2,384 |
| -26 | 33 | 192 | 443 | 131 | 390 | 714 | 555 | 226 | 563 | 188 | 588 |
|
| | | 17.1 | 3.4 | -26.7 | 52.1 | 48.3 | 2.0 | -45.7 | 88.8 | -53.1 | 59.8 |
| 6.6 | 20.7 | 15.6 | 14.1 | 8.1 | 12.0 | 16.9 | 15.6 | 7.1 | 11.7 | 5.8 | 8.8 |
| 122.4 | 328.1 | 384.4 | 397.3 | 288.9 | 435.4 | 633.5 | 646.3 | 325.2 | 664.0 | 311.2 | 496.7 |
| Financial Year | Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 35 | 35 | 35 | 35 | 35 | 36 | 36 | 36 | 36 | 36 | 36 | 36 |
| 5,241 | 6,811 | 7,663 | 8,862 | 9,636 | 13,133 | 15,361 | 17,424 | 18,600 | 20,667 | 21,502 | 22,406 |
Current Liabilities Current LiabilitiesCr | 1,449 | 1,162 | 1,989 | 2,967 | 2,127 | 4,016 | 4,443 | 4,686 | 6,732 | 6,128 | 5,756 | 6,553 |
Non Current Liabilities Non Current LiabilitiesCr | 1,273 | 1,456 | 1,479 | 3,278 | 3,633 | 2,690 | 1,622 | 1,552 | 925 | 1,082 | 1,157 | 1,160 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 2,232 | 1,809 | 3,282 | 5,700 | 4,719 | 7,894 | 8,187 | 8,470 | 8,968 | 12,212 | 12,102 | 13,804 |
Non Current Assets Non Current AssetsCr | 5,766 | 7,655 | 7,884 | 9,441 | 10,774 | 12,050 | 13,326 | 15,279 | 17,366 | 15,741 | 16,389 | 16,396 |
Total Assets Total AssetsCr |
| Financial Year | Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 1,239 | 1,566 | 2,202 | 1,879 | 2,080 | 3,973 | 4,254 | 2,668 | 2,569 | 3,347 | 4,920 |
Investing Cash Flow Investing Cash FlowCr | -990 | -1,265 | -2,048 | -3,595 | -722 | -5,599 | -2,645 | -2,151 | -2,414 | -1,418 | -3,728 |
Financing Cash Flow Financing Cash FlowCr | -259 | -271 | -167 | 1,726 | -1,276 | 1,581 | -1,233 | -849 | -277 | -1,710 | -1,296 |
|
Free Cash Flow Free Cash FlowCr | 115 | 832 | 922 | -645 | 160 | 2,446 | 3,138 | 461 | -687 | 238 | 848 |
| 290.5 | 137.0 | 164.4 | 135.7 | 204.9 | 257.3 | 185.8 | 114.2 | 202.4 | 139.7 | 437.8 |
CFO To EBITDA CFO To EBITDA% | 92.2 | 111.3 | 87.6 | 76.0 | 74.5 | 105.7 | 104.3 | 72.0 | 86.8 | 74.5 | 125.1 |
| Financial Year | Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 39,454 | 43,274 | 59,298 | 56,376 | 64,923 | 63,412 | 1,06,349 | 86,569 | 94,448 | 92,741 | 1,10,053 |
Price To Earnings Price To Earnings | 96.1 | 29.1 | 47.2 | 40.7 | 64.5 | 41.3 | 46.5 | 37.1 | 74.3 | 38.7 | 98.0 |
Price To Sales Price To Sales | 6.1 | 7.8 | 6.9 | 5.7 | 5.2 | 4.9 | 7.8 | 5.8 | 5.3 | 4.5 | 5.7 |
Price To Book Price To Book | 7.5 | 6.3 | 7.7 | 6.3 | 6.7 | 4.8 | 6.9 | 5.0 | 5.1 | 4.5 | 5.1 |
| 29.6 | 31.2 | 24.1 | 24.1 | 24.1 | 17.3 | 26.4 | 23.8 | 32.8 | 20.9 | 28.2 |
Profitability Ratios Profitability Ratios |
| 92.7 | 91.8 | 92.7 | 92.2 | 91.9 | 92.3 | 92.1 | 93.1 | 92.0 | 90.5 | 89.6 |
| 20.8 | 25.5 | 29.2 | 25.1 | 22.3 | 29.2 | 30.1 | 24.7 | 16.6 | 22.0 | 20.4 |
| 6.6 | 20.7 | 15.6 | 14.1 | 8.1 | 12.0 | 16.9 | 15.6 | 7.1 | 11.7 | 5.8 |
| 8.8 | 16.5 | 18.5 | 16.0 | 11.2 | 14.3 | 18.8 | 15.9 | 8.2 | 14.4 | 6.7 |
| 8.1 | 16.7 | 17.4 | 15.6 | 10.5 | 11.7 | 14.9 | 13.4 | 6.8 | 11.6 | 5.2 |
| 5.3 | 12.1 | 12.0 | 9.1 | 6.5 | 7.7 | 10.6 | 9.8 | 4.8 | 8.6 | 3.9 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Company Overview**
Shree Cement Limited is one of India’s leading cement manufacturers and ranks among the top three cement producers in the country by production capacity. With a strong legacy since its inception in 1985 in Beawar, Rajasthan, the company has evolved into a diversified, technology-driven building materials conglomerate. It operates across 12 Indian states and internationally in Ras Al Khaimah, UAE, through its subsidiary Union Cement Company (PJSC). The company is committed to cost leadership, innovation, sustainability, and digital transformation, underpinned by the 'Build Smart' philosophy—emphasizing efficiency, customer focus, and alignment with India’s infrastructure development goals.
---
### **Strategic Vision & Growth Targets**
- **Capacity Expansion**: Shree Cement aims to surpass **80 million tonnes per annum (MTPA)** of cement production capacity by **2028**, up from **62.8 MTPA** in April 2025.
- **Capacity Growth CAGR**: Over the past two decades, the company has expanded at a **16.6% CAGR**, significantly outpacing the industry average of 7–8%.
- **Debt-Free Growth**: Capacity expansions are funded entirely through **internal accruals**, maintaining a **debt-free balance sheet** with **INR 6,336.48 crore in net cash reserves** as of July 2025.
---
### **Operational Footprint**
- **Cement Plants**:
- Integrated plants and grinding units in Beawar, Nawalgarh, Baloda Bazar, Etah, Kodla, Athagarh, Banka, Patas, Kushtagi, and Basavana Bagewadi.
- International presence in Ras Al Khaimah, UAE.
- **Production Capacity**:
- Reaches **62.8 MTPA** post commissioning of the **Etah (Uttar Pradesh)** grinding unit and **Baloda Bazar (Chhattisgarh)** expansion in April 2025.
- **Limestone Reserves**:
- Owns **8 operational limestone mines** with **2,800 million tonnes** of reserves and has secured **5 new mines** with an additional **500 million tonnes**, ensuring long-term feedstock security.
- **Coal Mine**: Acquired a dedicated coal mine in Chhattisgarh with **4.3 million tonnes** of reserves.
---
### **Ready-Mix Concrete (RMC) Expansion**
Shree Cement has strategically entered the **RMC segment** to vertically integrate into the construction value chain:
- Operates **24 RMC plants** as of October 2025, comprising:
- **9 commercial** and **6 captive** plants initially (July 2025)
- Expanded significantly through:
- Acquisition of **5 RMC plants** in the Mumbai Metropolitan Region (Mar 2024) for **₹33.5 crore**.
- Commissioning of a **greenfield plant in Hyderabad (90 m³/hour capacity)** in March 2024.
- New facility in **Raipur, Chhattisgarh** (Oct 2025).
- **Sales Volume**: Achieved **5.39 lakh cubic meters** in FY 2024–25.
- **Future Expansion**:
- **10 plants under construction**, **7 awaiting approvals**, **7 in finalization stage**.
- Plans to establish **~50 RMC plants by FY25–26** and up to **100 plants across 50 cities** over the next 3–4 years.
- **Sustainability**: RMC mixes use **up to 30% fly ash and 50% GGBS**, reducing carbon emissions and supporting green construction.
---
### **Sustainability & Green Initiatives**
Shree Cement is a pioneer in sustainable cement manufacturing:
- **Green Energy Leadership**:
- Installed **1,033 MW** of total power capacity (solar, wind, thermal, waste heat recovery).
- **56% of electricity consumption** from green sources as of July 2024.
- Plans to add **135 MW of solar capacity** across Rajasthan, Panipat, Jharkhand, Uttarakhand, and Uttar Pradesh.
- **India’s First Solar-Powered RMC Plant**: Commissioned at **Jaipur**, reducing fossil fuel dependence and carbon footprint.
- **Synthetic Gypsum Production**:
- Pioneered in-house production using spent acid and low-grade limestone.
- Facilities at **Ras** and **Beawar** produce **4,910 tonnes/day**.
- Eliminates need for natural gypsum and supports circular economy.
- **Alternative Fuels**:
- Uses **agro-waste** in grinding units (especially in NCR), consuming **124,000 tonnes** in FY23–24.
- Reduces stubble burning and operational costs.
- **LC3 Cement Development**:
- Developed **low-carbon Limestone Calcined Clay Cement (LC3)** in collaboration with IIT Delhi and TARA.
- Reduces clinker content and CO₂ emissions while maintaining performance.
---
### **Digital Transformation & Technology Leadership**
Shree Cement is at the forefront of digital and Industry 4.0 adoption:
- **Digital Platforms**:
- **Udaan Suite**:
- **Udaan PRO**: Mobile app for sales teams—enables order booking, complaint logging, and market intelligence from **140,000+ field visits**.
- **Udaan CONNECT**: Used by **17,000+ dealers and retailers** for real-time order tracking, sales monitoring, and financial settlements.
- **Nirman Mitra 2.0**: Contractor loyalty platform with **243,000+ registered contractors**; rewards redeemed within **15 days**.
- **AI & Machine Learning**:
- Deployed in **cement strength prediction**, **kiln video analytics**, **freight route optimization**, and **mill simulation**.
- **Procurement AI Agents** in development to streamline bidding and supplier decisions.
- Uses **Generative AI (Copilot Chat)** for master data management and de-duplication.
- **Automation & IoT**:
- SAP S/4HANA **(SAP Rise)** and **Cloud IIoT platforms** form digital backbone.
- **Data lakes** enable AI-driven decision-making.
- **Isaac Mobile App**: Digital checklists for equipment inspections, improving **Mean Time Between Failures (MTBF)**.
- **Robo Analysis**: Automates lab testing, enabling unmanned QA/QC operations.
- **Logistics Optimization**:
- **LP Solver** and upcoming **Blue Yonder** system for real-time supply chain intelligence.
- **GPS-enabled tracking**, **automated inventory**, and **freight optimization** reduce transit losses and improve delivery assurance.
---
### **Innovation & R&D**
- **In-House R&D**:
- State-of-the-art labs in North, East, and South India (DSIR-recognized).
- Dedicated **Innovation Team** focusing on AI/ML, robotics, and process optimization.
- **Patents & IP**:
- **4 granted patents**, including synthetic gypsum, waste heat recovery systems, and multi-dynamic separators.
- **Multiple patent applications** in progress for deduster systems and cement booster technologies.
- **Product Innovation**:
- **Bangur Magna**: Premium cement with superior strength, crack, and moisture resistance; targets high-end infrastructure.
- **Bangur Marble**: Extra-white PSC with GGBS, ideal for exposed architectural concrete.
- **Roofon Plus**: Engineered with nano-particles for high-density, early-strength concrete—ideal for beams, columns, roofs.
- **Water-repellent Cement**: In-house development under PPC and CC categories.
---
### **Supply Chain & Logistics Excellence**
- **Rail Network**:
- **Dedicated railway sidings** at 10+ locations (Beawar, Ras, Baloda Bazar, etc.).
- Expanding to **Etah, Guntur, Suratgarh**, and others to reduce logistics costs.
- **Fleet Efficiency**:
- Shift from 14-wheeler to **22-wheeler trucks** in South India, improving payload and fuel efficiency.
- **Mechanized loading systems** and **telescopic chutes** reduce turnaround time.
- **Digitalization**:
- **RFID-based Integrated Logistics Management System** automates gate entry to exit.
- **Logistics Control Tower** enables real-time monitoring of trucks and rakes.
- **Dynamic Sales & Operations Planning (S&OP)** integrates with **SAP ERP** for monthly results by the **3rd** of the following month.
---
### **Market Strategy & Branding**
- **Master Brand ‘Bangur’**: Launched in **Jan 2024** to unify brand identity, replacing fragmented branding with a modern, aspirational positioning.
- **Premiumization Drive**:
- **Share of premium product sales** rose from **11.9% (Q4 2024)** to **15.6% (Q4 2025)**.
- Products like **Bangur Magna**, **Powermax**, and **Marble** command price and quality leadership.
- **Customer Segmentation**:
- Targets **independent homebuilders**, contractors, and government infra projects.
- **700+ Technical Service Officers (TSOs)** provide on-site support and product guidance.
- Engaged **1,700+ gram panchayats**, capturing rural demand.
- **Marketing & Engagement**:
- **Sunny Deol** as brand ambassador for Bangur Master brand (since Feb 2024).
- Over **150,000 contractors engaged** with positive feedback on quality and packaging.
---
### **Environmental, Social & Governance (ESG)**
- **Carbon Reduction Focus**:
- Member of **GCCA’s INNOVANDI** project on carbon capture technologies.
- Partnered with the **World Bank** on climate and sustainability initiatives.
- **Water Conservation**:
- **28 lakh kiloliter** rainwater harvesting reservoir at Baloda Bazar (formed from a repurposed flooded mine).
- Use of **EVALOCK**, a biodegradable chemical, reduces evaporation by **30%**.
- **Safety Innovations**:
- Industry-first **solenoid-operated suspension charging** system with **oxygen-detection safety**.
- **Komatsu Dozer engine test bench** reduces recommissioning time.