shares rose 0.91 per cent to ₹28,845 in morning trade on Wednesday, a day after the company reported its Q2FY26 results, with the stock touching an intraday high of ₹29,425. The scrip saw modest volumes with 0.25 lakh shares traded, valued at ₹70.66 crore.
Brokerages remained divided on the stock despite strong quarterly performance. CITI maintained ‘Buy’ with a raised target price of ₹33,000, while CLSA retained ‘Outperform’ at ₹32,300. However, Jefferies kept ‘Buy’ but held its target at ₹33,420. Nuvama and Goldman Sachs stayed neutral with targets of ₹31,120 and ₹31,250 respectively.
Choice Broking issued a ‘Sell’ rating with a target of ₹26,900, citing valuation concerns. The brokerage noted that at FY28E EV/EBITDA of 15.5x, Shree Cement trades among the richest valued cement stocks. It highlighted that the company’s ROE/ROCE of 6.7 per cent/9.3 per cent for FY26E doesn’t cover its cost of capital at 12.5 per cent, despite ₹118 billion cash on books forming 11.5 per cent of market capitalisation.
For Q2FY26, Shree Cement reported net profit of ₹277 crore, up 198 per cent year-on-year from ₹93 crore, while revenue grew 15 per cent to ₹4,303 crore. EBITDA surged 44 per cent to ₹851 crore, driven by volume growth of 6.8 per cent and premiumisation strategy.