Shree Cement share price jumped 3.88% to Rs 25,426 today after the company’s board declared an interim dividend of Rs 55 per equity share of Rs 10 each for the financial year ended March 2023. Shree Cements’ fiscal fourth quarter revenue jumped 16.9% to Rs 5,100.19 crore in Q4FY23 as against Rs 4,364.24 crore in the corresponding quarter previous year. Net profit for the quarter fell 20% to Rs 525.77 crore from Rs 657.24 crore in the same quarter last year.
“Shree Cement has been trading at premium valuations owing to cost leadership, efficient capital deployment, and a higher capacity/volume CAGR v/s the industry. We continue to believe that SRCM’s cost benefits over its peers are narrowing. The stock trades at 20x FY24E EV/EBITDA. We have a Neutral rating on the stock,” said analysts at Motilal Oswal.
Shree Cement shares have risen 5.5% in the past one month and 15% in the last one year. The stock touched a 52-week high of Rs 27,013 on 21 February 2023 and 1 52-week low of Rs 17,900 on 20 June 2022. Today the stock touched an intraday high of Rs 25,426.25 and a low of Rs 24,430.55. At the current mark price of Rs 25182.25 per share, the company’s market capitalisation stands at Rs 90,859.44 crore.