shree cement shares: Shree Cement shares drop over 3% after 51% YoY decline in Q1 PAT. Should you invest?
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Shares of Shree Cement on Thursday fell 4% on BSE to its day’s low of Rs 24,234.15 after the company reported a 51% year-on-year (YoY) decline in its net profit for the June quarter to Rs 278.6 crore. The company reported a net profit of Rs 572.3 crore for the corresponding quarter of the last financial year. Meanwhile, the revenue from operations stood at Rs 5,123.9 in the June quarter of FY25, up by 1.75% from Rs 5,035.6 crore reported in the year-ago period. The company's total expenses in the June quarter grew by 4.4% to Rs 4,618, up from Rs 4,422 in Q1FY24. In the previous quarter, the total expenses were reported at Rs 4,438 crore. Here is what brokerages say: Nomura: Buy| Target price: Rs 33,400 Nomura maintained a buy call on Shree Cement with a target price of Rs 33,400.Q1 results’ lower-than-expected blended realization leads to an EBITDA miss while the capacity expansion is on track to reach 74MT by FY26F. Motilal Oswal: Ne...