Shree Cement Ltd — earnings calls

Shree Cement reported that Q1 FY27 India realization rose to Rs 4,919 per tonne while the clinker conversion factor fell to 1.50 from 1.58 a year earlier, which management attributed to a forced shift from Pet Coke to coal and unavailability of Omani gypsum due to the Middle East war. Consolidated volumes stood at 114.5 lakh tons with operational EBITDA of Rs 1,272 crore, versus 99.6 lakh tons and Rs 1,333 crore in the year-ago quarter, translating to consolidated EBITDA per ton of 1,111 against 1,339 a year earlier. Management said fuel cost rose to Rs 1.95 per kcal in the quarter and described the quarter as abnormal, while asking analysts to shift to tracking consolidated rather than standalone numbers going forward.

Shree Cement reported Q4 FY26 domestic cement sales volume growth of 25% sequentially and 11% year-on-year, with operating EBITDA rising 34% to Rs 1,212 crores and EBITDA per ton at Rs 1,125. For the full year, sales volume including Shree Cement East rose 2.2% to 36.4 million tons, realizations increased 3.6% to Rs 4,732 per ton, and the Board recommended a final dividend of Rs 70 per share in addition to the Rs 80 interim dividend already paid. Management discussed capacity expansion including the newly commissioned Kodla integrated project, an ongoing UAE cement mill expansion, a new Meghalaya project, and cost pressures from fuel and packaging arising from the Middle East conflict.