Shree Cement (SHREECEM) Q4 25/26 earnings summary

Executive summary

• Achieved 11% year-over-year cement sales volume growth in Q4 FY26, with sequential growth of 25% and total volumes (including clinker) up 23.2% quarter-on-quarter.

• Realizations improved 1.6% sequentially to INR 4,725/ton; operating EBITDA rose 34% to INR 1,212 crore in Q4.

• Full-year sales volume grew 2.2% to 36.4 million tons; operating EBITDA up 11% to INR 4,220 crore, excluding a one-time INR 80 crore impact.

• Union Cement (UAE) posted 18% volume and 39% revenue growth for the year, despite temporary Middle East disruptions.

• Audited standalone and consolidated financial results for the quarter and year ended 31st March 2026 were approved, with an unmodified audit opinion from statutory auditors.

Financial highlights

• Q4 EBITDA per ton increased from INR 1,032 to INR 1,125; full-year EBITDA per ton at INR 1,161, up from INR 1,071.

• Standalone revenue from operations for FY 2025-26 was Rs. 19,310.52 crore, up from Rs. 18,037.33 crore year-over-year.

• Consolidated revenue from operations for FY 2025-26 was Rs. 20,943.47 crore, up from Rs. 19,282.83 crore year-over-year.

• Standalone net profit for FY 2025-26 was Rs. 1,706.25 crore; consolidated net profit was Rs. 1,748.66 crore.

• EBITDA (standalone) for FY 2025-26 was Rs. 4,788.07 crore; consolidated EBITDA was Rs. 5,298.69 crore.

Outlook and guidance

• FY27 sales volume guidance around 40 million tons, targeting 1% above industry growth.

• CapEx for FY27 estimated at INR 1,500 crore, focused on RMC expansion, railway sidings, and Meghalaya plant.

• Long-term goal to reach 80 million tons capacity by 2029, with pace adjusted to market conditions.

• Expectation of healthy medium-term demand, but short-term risks from Middle East conflict and monsoon.

• The company continues to monitor regulatory changes, especially regarding new labour codes, and will adjust accounting as needed.