Shree Cement (SHREECEM) Q4 25/26 earnings summary

Executive summary

• Achieved 11% year-over-year cement sales volume growth in Q4 FY26, with sequential growth of 25% and total volumes (including clinker) up 23.2% quarter-on-quarter.

• Audited standalone and consolidated financial results for the quarter and year ended 31st March 2026 were approved, with an unmodified audit opinion from statutory auditors.

• Realizations improved 1.6% sequentially to INR 4,725/ton; operating EBITDA rose 34% to INR 1,212 crore in Q4.

• Full-year sales volume grew 2.2% to 36.4 million tons; operating EBITDA up 11% to INR 4,220 crore, excluding a one-time INR 80 crore impact.

• Commissioned new integrated plant in Karnataka, raising installed capacity in India to 69.3 million tons and adding 3.50 MTPA cement and 3.65 MTPA clinker capacity.

Financial highlights

• Standalone revenue from operations for FY 2025-26 was Rs. 19,310.52 crore, up from Rs. 18,037.33 crore year-over-year; consolidated revenue was Rs. 20,943.47 crore, up from Rs. 19,282.83 crore.

• Standalone net profit for FY 2025-26 was Rs. 1,706.25 crore; consolidated net profit was Rs. 1,748.66 crore.

• EBITDA per ton increased from INR 1,032 to INR 1,125 in Q4 FY26; full-year EBITDA per ton at INR 1,161, up from INR 1,071.

• Dividend for FY26 at INR 150/share, a 36% increase over previous year, including a final dividend of Rs. 70 per share and interim dividend of Rs. 80 per share.

• Net cash balance as of March 26: INR 6,400–6,700 crore in investments and INR 1,700 crore in cash.

Outlook and guidance

• Targeting 40 million tons cement sales in FY27, aiming for 1% above industry growth rate.

• CapEx guidance for FY27 is INR 1,500 crore, focusing on RMC plant expansion, railway sidings, and Meghalaya project.

• Long-term goal to reach 80 million tons capacity by 2029, but pace will depend on market conditions.

• The company continues to monitor regulatory changes, especially regarding new labour codes, and will adjust accounting as needed.

• Expecting cost increases of INR 150–200/ton in coming quarters due to fuel and packaging inflation.