India's Shree Cement gains on quarterly volume growth, easing-cost outlook

Shree Cement

03/08/2026 06:31

** Cement maker Shree Cement's shares SHCM.NS rise 3.32% to 26,920 rupees, their biggest intraday gain in about six weeks
** Posts 14% year-on-year rise in revenue from operations for June quarter at 56.23 billion rupees ($591.02 million)
** Net profit, however, falls 29% to 4.38 billion rupees as raw-material, power and fuel costs surge 
** Citi reiterates its "buy" rating and lifts target price to 30,000 rupees from 29,200 rupees, citing an expected recovery in September-quarter profitability
** Says the cost increase is likely near its peak
** Goldman Sachs flags SHCM's superior volume growth and market-share focus as key positives 
** Centrum upgrades the stock to "buy" from "neutral" and raises its target to 29,500 rupees
** Expects operating costs to moderate 
** Expects margins to recover in the second half of fiscal 2027; raises FY2027 and FY2028 operating-profit estimates 
** SHCM stock is up 1.1% so far in 2026; its median analyst target price is 28,400 rupees - LSEG data

($1 = 95.1400 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))