Cement
Cement
from 26,055 today
Shree Cement's 1QFY27 EBITDA was below estimates due to higher other expenses, though volume growth remained strong. We maintain our EBITDA estimates for FY27/FY28E and reiterate our Neutral rating with a TP of INR27,000.
SRCM reported weak standalone operating performance in Q1FY27 despite robust 17% YoY volume growth, as higher production costs weighed on profitability. We increase our FY27/28E EBITDA estimates by 5%/3% on higher volume assumption and maintain Accumulate with a revised target price of INR29,085.
We maintain our HOLD rating on the stock as robust volume growth, expected margin recovery from Q2FY27 onwards, and a strong balance sheet support medium-term prospects.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
