Shree Cement shares fall 4% after Q2 results disappoint. Should you invest?
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Shares of Shree Cement dropped 4% on Tuesday to an intraday low of Rs 23,500.15 on the BSE after the Kolkata-based company’s Q2 profit plunged more than 80% on year to Rs 93.13 crore. The profit was weighed down by weakness in both demand and prices for the building material during the three months. While the September quarter is seasonally weak for cement makers, the country’s third-largest producer’s sales volume slipped as compared to the previous year as well - 7% lower at 7.60 million tonnes. The company’s net revenue from operations fell 18% on year to Rs 3,727 crore, while earnings before interest, tax, depreciation, and amortization fell 32% on year to Rs 593 crore. After the second quarter results, here is what analysts say: HDFC Securities: Add | Target price: Rs 26,700 The fuel cost is expected to gradually cool off by 12% from Q2FY25 levels in the next three quarters. The company expects a Capex of Rs 4,000 crore each year for...
