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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹6,101 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
₹1,212 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Shree Cement delivered a strong Q4 FY26 with domestic cement sales volume up 11% YoY to 10.56 million tons, driven by a strategic shift to volume growth after narrowing the price gap with the top player by 15-20 rupees per bag. EBITDA rose 34% YoY to ₹1,212 crore, with EBITDA per ton improving to ₹1,125. Capacity utilization jumped to 66% from 56% in Q3. The company commissioned a 3.65 MTPA clinker and 3.5 MTPA cement plant in Karnataka, raising total capacity to 69.3 MTPA. Management guided for ~40 million tons cement volume in FY27 and capex of ₹1,500 crore. Key risks include Middle East conflict driving fuel cost inflation (expected ₹150-200/ton cost increase in Q1) and potential demand disruption from geopolitical tensions.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects to achieve around 40 million tons of cement sales in FY27, implying ~10% growth over FY26.
- Capital expenditure for FY27 is estimated at approximately ₹1,500 crore, primarily for RMC plants, railway sidings, and Meghalaya expansion.
- The company plans to increase its RMC plant count from 26 to 50-55 by the end of FY27.
- The 2.5 million ton cement mill at Union Cement UAE is scheduled to be commissioned by September 2026.
Risks flagged
- Geopolitical tensions have increased fuel costs; management expects a 10-12% rise in per kilo calorie cost in Q1 FY27, with potential further increases.
- Packaging costs have risen by ₹20/ton in Q4 and are expected to increase by another ₹80-100/ton in Q1 FY27 due to higher paper prices.
- The Middle East conflict has slowed sales in UAE, and management noted potential headwinds for the sector from geopolitical issues and monsoon conditions.
- Management has not yet received confirmed incentives from the Meghalaya government for the new plant, though the project is viable without them.
Key quotes
- We have delivered on both these accounts which explains our ethos of delivery and not proclamation.
- Profitability is the prime focus. Volume and price always the market gives. Volume is what we are capable to produce.
- Our EBITDA per ton of cement for the year 2526 is by far the highest in the peer group.
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