Shree Cement

Stocks of large cement makers have declined 6-23% so far in 2026, with Adani Group companies Ambuja Cements and ACC falling more than 20% each

Rising raw material, fuel and freight costs are beginning to squeeze margins across sectors. These five companies are still seeing healthy demand, but persistent cost inflation could pressure profitability over the next few quarters.

Pan-India average cement prices improved by ₹ 10-13 per bag month-on-month in May as companies attempted price hikes to partially offset the cost inflation arising due to the West Asia crisis

Shree Cement's shift signals a potential cooling of the aggressive capacity-addition cycle among India’s top cement producers, who had been racing to scale up output.

Shree Cement announced a final dividend of ₹ 70 per share for FY26, totaling ₹ 150 for the year. The company reported a March-quarter revenue of ₹ 6,101 crore and a net profit of ₹ 1,292 crore. Expansion plans include new RMC plants and increased cement capacity.

Energy costs and supply shocks drive a divergence between global metals and domestic plays, with analysts flagging a potential reversal if tensions ease.

For the financial year ended 31 March 2026 (FY26), the company saw its net profit jump more than 65% to ₹ 1,158 crore on the back of better realisations and a moderate rise in costs.

UltraTech stock is trading at FY28 EV/Ebitda of around 16x, a premium to rivals Ambuja Cements, ACC and Shree Cement