3Q beats estimates; cement EBITDAt at INR1,350

Company
11 Mar 2024
5 Min read 
  • Shree Cement's 3QFY24 results beat estimates with a 74% YoY growth in EBITDA.
  •  The company has revamped its brand strategy and launched Bangur as the master brand for all product categories.
  •  New capacities are expected to boost volume growth.
  •  EBITDA estimates for FY25/FY26 have been raised by 3% each.
  •  The stock is currently trading at 19x/17x FY25E/FY26E EV/EBITDA.
  •  Shree Cement's TP is revised to INR27,700 and a Neutral rating is maintained.
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