Shree Cement (SHREECEM) Q3 25/26 earnings summary

Executive summary

• Focus remained on value over volume, narrowing the price gap with competitors and improving profitability at the expense of volume growth.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended 31st December 2025 were approved on 6th February 2026.

• Statutory auditors conducted a limited review and found no material misstatements in the results.

• December and January saw improved demand and higher realizations, with expectations for continued momentum in Q4.

• RMC (Ready-Mix Concrete) plant expansion is a key growth lever, targeting 45 plants by September 2026.

Financial highlights

• Standalone revenue from operations for Q3 FY26 was ₹4,416.39 crore, up from ₹4,303.20 crore in the previous quarter and ₹4,543.00 crore in Q3 FY25.

• Standalone profit for Q3 FY26 was ₹278.61 crore, compared to ₹277.14 crore in Q2 FY26 and ₹229.41 crore in Q3 FY25.

• Consolidated revenue from operations for Q3 FY26 was ₹4,800.52 crore, up from ₹4,761.07 crore in Q2 FY26 and ₹4,572.68 crore in Q3 FY25.

• Consolidated profit for Q3 FY26 was ₹267.65 crore, compared to ₹309.82 crore in Q2 FY26 and ₹193.72 crore in Q3 FY25.

• Sales volume for the December quarter was 8.7 million tons, up from 7.9 million tons in the September quarter.

Outlook and guidance

• Q4 volumes expected at 9-9.5 million tons, with flattish to 1%-2% YoY growth.

• Industry demand growth for next year projected at 7.5%-8%, with company growth expected in line or slightly better.

• Premium cement share to be maintained at 21%-22% for the current year.

• A new integrated cement plant in Rajasthan with 3.65 MTPA clinker and 3.0 MTPA cement capacity was fully commissioned during the quarter, supporting future growth.

• Depreciation for next year estimated at INR 1,600-1,700 crore.