India · Delayed Price · Currency is INR Shree Cement Earnings Call Transcripts
Fiscal Year 2026
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Prioritizing value over volume, the company improved realizations and narrowed the price gap with peers, while expanding RMC capacity and maintaining strong cash reserves. Capex for FY26 is guided at INR 500 crore, with demand and margins expected to improve as utilization rises.
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EBITDA rose 46% YoY on 9% realization growth, driven by premiumization and strong UAE results. Capex of INR 3,000 crore planned, with capacity expansion aligned to demand. GST cut and green initiatives support a positive long-term outlook.
Fiscal Year 2025
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Q4 FY25 saw strong volume and EBITDA growth, driven by premium product focus, cost efficiencies, and higher green energy usage. Capacity expansions and new product launches support a positive outlook, with demand expected to grow 6.5–7.5% in FY26.
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Q2 FY25 saw a 7% volume decline due to weak demand, but disciplined pricing and a premium product focus kept realizations stable and costs down. Capacity expansions and sustainability initiatives remain on track, with improved demand and pricing expected in the next six months.
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Q1 FY25 saw 8% volume growth and improved cost efficiencies, but EBITDA fell 2% year-over-year due to lower realizations and higher expenses from new plant stabilization. Management expects weak demand and pricing through Q3, with recovery likely in Q4.