Introduction:
The cement sector stock saw a notable stock decline with a 7.36% YoY drop, alongside recent falls of 1.8% this week and 4.84% over six months. Despite this, strong market presence and historical performance suggest potential for recovery amid economic challenges.
Share Price movement of Shree Cement:
Shree Cement’s share opened at ₹23,500 on November 12, 2024, climbing to an intraday high of ₹24,429.95 before reaching a low of ₹23,500. The stock settled at ₹24,183.70, reflecting a decrease from the previous close of ₹24,418.25.
Shree Cement Share Price Decline:
Shree Cement, with a share price of ₹24,087.50, reported a significant decline in its consolidated net profit for the quarter ending September 30, showing an 83% YoY decrease to ₹76.44 crore from ₹446.63 crore.
This substantial drop reflects broader industry challenges, including decreased demand and pricing pressures that adversely impacted the cement sector during the quarter.
Revenue also saw a notable YoY decline of over 15% to ₹4,054.17 crore, while expenses decreased marginally by 3.5% to ₹4,212.27 crore. The reduction in expenses was primarily due to lower input costs, including power and fuel expenses, which on a per tonne basis fell to ₹4,122 from ₹4,503 in the same period last year.
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On a standalone basis, Shree Cement’s situation mirrored its consolidated results, with revenues down by 18% YoY to ₹3,727 crore and net profit decreasing by 81% to ₹93 crore. Standalone EBITDA also fell by 32% YoY to ₹593 crore, with the EBITDA margin contracting by 100 basis points to 21%, highlighting the ongoing economic pressures and operational challenges faced by the company.
Recent news About Shree Cement:
Shree Cement recently reported an 83% YoY drop in Q2 profit, down to ₹76.44 crore from ₹446.63 crore, impacted by weaker demand and pricing pressures. Despite these challenges, the company maintains its focus on premiumization and brand strength to stabilise future performance.
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Stock performance of Shree Cement for Period of 1 week, 6 months and 1 year:
Shree Cement’s stock performance has shown declines across various periods. In the past week, it dipped by 1.12%. Over the last six months, it saw a 4.93% drop, and across the past year, it recorded a negative return of 6.79%, indicating ongoing challenges.
Shareholding pattern of Shree Cement:
| All values in % | Sep-24 | Jun-24 | Mar-24 |
| Promoters | 62.55 | 62.55 | 62.55 |
| FII | 10.39 | 11.85 | 12.47 |
| DII | 14.46 | 13.02 | 12.33 |
| Retail & others | 12.59 | 12.58 | 12.63 |
About Shree Cement Company:
Shree Cement, a leading cement manufacturer in India, is known for its efficient operations, quality products, and sustainable practices. Established in 1979, the company produces cement and power, with a strong market presence across North and East India, emphasising innovation and environmental responsibility.
Disclaimer: The above article is written for educational purposes and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.
