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ICICI Direct Report
Shree Cement Ltd.’s operational performance for Q2 FY21 was ahead of our estimates led by improved sales volumes and cost efficiencies.
Reported revenue growth was 7.9% YoY to Rs 3022.4 crore (our estimate Rs 2,964.1 crore).
Volumes grew 14% YoY to 6.5 metric tonne while blended realisations were down 5.4% YoY to Rs 4636/tonne (versus our estimate Rs 4,882/tonne) as cement prices stayed weak in north and eastern region in Q2.
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