Shree Cement

Cement shares in action: Heidelberg, UltraTech, Shree, Nuvoco zoom up to 4%

The renewed investor interest in the cement shares came on the back of reports that cement dealers have initiated price hikes since the start of December

Cement shares in demand; UltraTech, Shree, JK, Dalmia Bharat gain up to 5%

While FY25 is seeing slow growth and subdued govt spending, CareEdge maintains a long-term outlook aligned with India's broader growth strategy with housing, continuing to be primary driver of cement.

Shree Cement Q2FY25 results: Net profit declines 83% to Rs 76.44 crore

Shree Cement maintained its capital expenditure (capex) target to expand capacity to 80 million tonnes per annum

Shree Cement Q2FY25 results: Net profit falls 83% to Rs 76.64 crore

Bangur family-promoted Shree Cement Ltd on Monday reported 82.83 per cent decline in consolidated net profit at Rs 76.64 crore for September quarter FY25 as it faced challenging demand conditions on account of prolonged monsoon and lower price in the segment. The company had logged a net profit of Rs 446.62 crore in the July-September period a year ago, according to a regulatory filing from Shree Cement Ltd (SCL). Revenue from operations was down 15.07 per cent year-on-year to Rs 4,054.17 crore during the quarter. Like other cement makers, SCL also faced "challenging demand conditions on account of prolonged monsoon and softer prices faced by the industry," the company said in its earning statement. EBITDA stood at Rs 593 crore against Rs 870 crore in the corresponding quarter of the previous year. Total expense was at Rs 4,212.27 crore, down 3.52 per cent from the year-ago period. Total sale volumes came down by 7 per cent to 7.60 million tonne as against 8.20 million tonne. Tot

Shree Cement ties up with DPIIT to support startups in manufacturing sector

Shree Cement Ltd on Tuesday said it has signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT) to support startups in the manufacturing sector and drive innovation. Through this partnership, Shree Cement aims to support product startups by offering infrastructure, mentorship, access to funding, and market connections, guiding them from prototype development to potential international expansion, the company said in a statement. "Our partnership with DPIIT reinforces our commitment to fostering innovation in the manufacturing sector. We believe this partnership will play an important role in promoting self-reliance through domestic manufacturing and import substitution," Shree Cement Managing Director Neeraj Akhoury said. DPIIT Director Sumeet Jarangal said, "This partnership between Shree Cement and DPIIT will lay the foundation for a brighter future for early stage manufacturing startups and is a strong step in making Indi

Shree Cement extends fall; stock down 13% in 6 days post weak Q1 results

Management indicated that cement demand would remain weak until calendar year 2024-end and expects a full recovery from Q4FY25, brokerage firm MOFSL said.

Shree Cement Q1FY25 results: Net profit down 51.3% at Rs 278.45 cr

Bangur family promoted Shree Cement Ltd on Tuesday reported a decline of 51.31 per cent in its consolidated net profit to Rs 278.45 crore for the first quarter ended June 2024. The company had posted a net profit of Rs 571.94 crore in the April-June period a year ago, according to a regulatory filing from Shree Cement Ltd (SCL). However, its revenue from operations was up 1.73 per cent to Rs 5,123.96 crore during the quarter under review, as against Rs 5,036.65 crore in the corresponding period of the preceding fiscal. Total expenses of SCL increased 10.05 per cent to Rs 4,957.24 crore in the June quarter. SCL's total income rose 1.12 per cent to Rs 5,263.09 crore in the June quarter. Shree Cement is the third largest cement-making firm, owning brands such as Roofon, Bangur Power, Shree Jung Rodhak, Bangur Cement and Rockstrong. Shares of Shree Cement Ltd on Tuesday were trading at Rs 519.60 apiece on BSE, up 1.82 per cent from the previous close.

Shree Cement's installed renewable power capacity touches 1 GW across India

India's third largest cement manufacturer Shree Cement on Monday announced achieving installed power capacity of 1,000 MW with the commissioning of a 19.5 MW solar power plant at its Andhra Pradesh unit. "The one GW (Gigawatt) capacity includes a mix of solar, wind, thermal and waste heat recovery power plants, showcasing Shree Cement's diversified approach to meeting the electricity demand for cement production," the Bangur family-promoted firm said in a statement. The company has made an investment of Rs 4,000 crore to expand the renewable portfolio, which now accounts for nearly half of the installed power capacity. "Looking ahead, an estimated capex of Rs 1,000 crore is planned in FY25 for installation of additional renewable energy capacity," it said. This includes the installation of 132 MW of solar capacity in five states - Jharkhand, Haryana, Rajasthan, Uttar Pradesh and Uttarakhand, 36 MW of wind generation in Rajasthan and 34 MW of waste heat recovery capacity in Karnatak

Bharti Airtel, Cipla, Paytm, Colgate among seven stocks to track on May 15

At 6:55 AM, GIFT Nifty futures was trading 73 points higher at 22,382.50 levels compared to Nifty50 futures, indicating a positive start for the bourses

Shree Cement enters ready mix concrete segment with 1st greenfield project

Shree Cement, one of the top three players in the segment, on Friday announced entry into the ready mix concrete (RMC) segment with the commissioning of its first greenfield in Hyderabad. The new RMC plant has a capacity of 90 cubic metres per hour and would help the Bangur family-promoted firm to emerge as a multi-product player in the cement business, as per a company statement. "As part of this strategy, Shree Cements had acquired five operational plants of StarCrete LLP in Mumbai earlier this month for a consideration of Rs 33.5 crore. The company's combined RMC capacity now stands at 512 cubic metres per hour," it said. Shree Cement Managing Director Neeraj Akhoury said the venture into the RMC segment marks Shree Cement's entry into a new line of business. "We recognise the vast potential of RMC business, which is being driven by India's growth momentum, the concerted efforts of both central and state governments to advance infrastructure projects and an uptick in the housing

NTPC, Gail: How to trade these 5 stocks that turned ex-dividend this week?

As many as 49 stocks turned ex-dividend on the bourses this week. Here's a quick chart check on select five among them.

Shah Rukh Khan vs Sunny Deol in the battle for India's cement demand

Celebrities become the face of an industry evolving with rising demand and changing consumer patterns

I-T Dept issues final notice to Shree Cement over Rs 4,000 cr tax liability

The Income Tax Department has claimed a demand of Rs 4,000 crore against cement manufacturer Shree Cement for tax evasion

Shree Cement Q3 resuls: Net profit rises two-fold to Rs 701.85 crore

Bangur family-promoted Shree Cement Ltd on Wednesday reported an over two-fold jump in its consolidated net profit to Rs 701.85 crore for the third quarter ended December 2023. The company had posted a net profit of Rs 281.83 crore in the October-December period a year ago, according to a regulatory filing. Its revenue from operations grew 21.5 per cent to Rs 5,223.18 crore during the quarter under review. It was at Rs 4,299.26 crore in the corresponding period of the preceding fiscal. In the December quarter, it had a "strong & all-round performance led by improved realisation & cost reduction amidst robust demand growth," the company said in a quarterly earnings statement. The total sale volume of Shree Cement Ltd (SCL) increased Year-on-Year (YoY) by 11 per cent from 8.03 million tonnes to 8.89 million tonnes. Its capacity utilisation improved from 72 per cent to 77 per cent on YoY basis. Total expenses of SCL grew 9.12 per cent to Rs 4,458.01 crore in the December ...

Shree Cement commissions high capacity kiln for Rs 3,500 cr Rajasthan plant

Shree Cement Limited on Thursday announced the commissioning of a kiln at its new integrated production facility in Nawalgarh, Rajasthan, with a rated capacity of 11,500 tonnes per day. This kiln stands among one of the highest capacity units in the world, and is empowered by cutting-edge technology, allowing utilisation of alternative fuels and ensuring optimal energy efficiency, the company said. The Rs 3,500 crore new cement plant has an annual production capacity of 3.5 million tonnes of cement annually. The plant also features a 33 MW waste heat recovery-based power plant, contributing to electricity generation without relying on fossil fuels. This innovative approach utilises waste gases from the clinkerisation process, aligning with the company's dedication to environmental responsibility. "In our pursuit to become an 80 million tonnes company by the year 2028, we are thrilled to announce the commissioning of the kiln at our new integrated facility in Nawalgarh, Rajasthan. T

Shree Cement plans to bid for lithium mining rights in Jammu-Kashmir

Shree Cement, India's second biggest cement company by market capitalisation, will also bid for blocks in the eastern state of Chhattisgarh, said a source

Shree Cement beats profit view in Jul-Sep quarter on strong infra demand

According to a Jefferies' pre-earning note, cement prices during the quarter increased ~0.5-1% at the all-India level, with the rates rising the most in the country's eastern region

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Shree Cement to raise up to Rs 700 cr via NCDs on private placement basis

The fundraising plan is expected to be part of the company's Rs 7,000-crore capex plan in the next phase of growth, during which it aims to add an additional 12 million tonnes of capacity

Shree Cement to issue NCDs worth Rs 700 cr on pvt placement basis

Leading cement company Shree Cement said on Tuesday that it is planning to issue Non-Convertible Debentures (NCDs) worth Rs 700 crore on a private placement basis. The company's board of directors will consider approving the issuance of NCDs on September 25. The fundraising plan is expected to be part of the company's Rs 7,000-crore capex plan in the next phase of growth, during which it aims to add additional 12 million tonne of capacity. The company has said it is planning to expand in Rajasthan and Maharashtra. Recently, the company announced commercial production at Purulia in West Bengal with a three million-tonne capacity clinker cement plant at a cost of Rs 600 crore. The company aims to cross 50 million tonne per annum capacity by 2025 and over 70 million tonne in the next few years. The current installed capacity is around 45 million tonne per annum.