Shree Cement Q3 Earnings Driven By Volume Growth, Margin Expansion: Prabhudas Lilladher
A worker transports cement in a wheel-barrow along a road in Ooty, Tamil Nadu, India. (Photographer: Dhiraj Singh/Bloomberg)

Shree Cement Q3 Earnings Driven By Volume Growth, Margin Expansion: Prabhudas Lilladher

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Prabhudas Lilladher Report

Shree Cement Ltd. reported Q3 FY21 Ebitda in line with our estimates. While it beat consensus estimates by 8.5%.

The company has evolved as a mature player over the last couple of years with discipline on both volumes and prices in its North markets (constitutes two-third of its volumes). This is reflected in the highest-ever margins since FY09.

However, expensive valuations (enterprise value/Ebitda of 18 times FY22e/16.0 times FY23e) continue to deter buying opportunity in the stock.

Click on the attachment to read the full report:

Prabhudas Lilladher Shree Cement Q3FY21 Result Update.pdf

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