Financial Results (Standalone)
Quarter ended 30th September 2026:
- Net Revenue from Operations: ₹5,107 crore
- Operating Profit (EBITDA): ₹849 crore
- Profit after Tax: ₹205 crore
- Cash Profit: ₹759 crore
Comparative Standalone Figures:
- Q2 FY26 (30th September 2025): Revenue ₹4,303 crore, EBITDA ₹851 crore, PAT ₹277 crore, Cash Profit ₹841 crore
- Q1 FY27 (30th June 2026): Revenue ₹5,623 crore, EBITDA ₹1,074 crore, PAT ₹438 crore, Cash Profit ₹983 crore
Financial Results (Consolidated)
Quarter ended 30th September 2026:
- Net Revenue from Operations: ₹5,897 crore
- Operating Profit (EBITDA): ₹1,016 crore
- Profit after Tax: ₹263 crore
- Cash Profit: ₹913 crore
Comparative Consolidated Figures:
- Q2 FY26 (30th September 2025): Revenue ₹4,761 crore, EBITDA ₹974 crore, PAT ₹310 crore, Cash Profit ₹971 crore
- Q1 FY27 (30th June 2026): Revenue ₹6,233 crore, EBITDA ₹1,272 crore, PAT ₹531 crore, Cash Profit ₹1,168 crore
Operational Highlights
Volume Performance:
- Domestic sale volume (cement and clinker): 9.31 million tonnes (up 18% YoY from 7.91 million tonnes)
- Consolidated volumes: 10.52 million tonnes (up 14% YoY from 9.23 million tonnes)
Financial Performance Metrics:
- Consolidated revenue growth: 24% YoY (from ₹4,761 crore to ₹5,897 crore)
- Consolidated EBITDA growth: 4% YoY (from ₹974 crore to ₹1,016 crore)
- Consolidated Per ton EBITDA: ₹966 (declined 8% YoY from ₹1,055 due to elevated fuel prices)
- Premium products contribution: 28.7% of total trade volume (vs. 21.1% in corresponding quarter previous year)
Management Commentary
Mr. Neeraj Akhoury, Managing Director, stated: "We delivered a strong performance during the quarter, with volume growth of 18% year-on-year, supported by deeper market penetration, enhanced customer reach and disciplined execution across our operations. Our continued focus on premiumisation is reflected in premium products contributing 29% of trade volumes, underscoring the strength of our brands and customer relationships. We remained focused on driving operational excellence through efficiency initiatives, increased green power utilisation, and digital-led productivity improvements. Backed by initiatives to gain market share and a disciplined approach to cost and efficiency enhancement, we are well-positioned to deliver sustainable and profitable growth in the quarters ahead."
Capacity Expansion
United Arab Emirates:
- Union Cement Company (step-down subsidiary) commissioned new cement mill in September 2026
- Capacity: 3.0 million tonnes per annum
- Total cement production capacity now: 7.0 million tonnes per annum
India:
- Greenfield integrated plant in Meghalaya under development
- Expected commissioning: by quarter ending 31st March 2028
- Company continues to evaluate strategic expansion opportunities
Sustainability Initiatives
- Green electricity share in total consumption: 65.2% in Q2 FY27 (including wholly owned subsidiaries in India)
- Green power generation capacity: 667 MW (including wholly owned subsidiary in India)
- Thermal Substation Rate (TSR): improved to 5.2% vs. 2.3% in Q2 FY26
- All manufacturing locations are Zero Liquid Discharge
- Water positivity index: >8 times in FY2025-26
Ready-Mix Concrete Business Performance
- Commercial network: 28 plants
- Total network including captive units: 35 plants
- RMC volumes: 2.73 lakh m³ (increased 153% YoY)
- RMC revenue: ₹129 crore (grew 182% YoY)
- Business remained operationally EBITDA positive
Market Outlook
India's economic outlook remains supportive, driven by sustained infrastructure spending, urban development and stable macroeconomic conditions. While a weak monsoon could weigh on rural demand, continued investments in roads, railways, housing and data centres are expected to support cement demand.
Company Background
Shree Cement Limited is India's third-largest cement group by capacity, known for industry leading green credentials, innovative practices and cost leadership. The company aims to achieve over 80 million tonnes of production capacity in the coming years.