In a seasonally soft period impacted by monsoon and amid cost pressures, Shree Cement reported better-than-expected profitability for the September quarter (Q2). This should ease the Street's concerns as cement realisations are likely to improve after the festive season as demand momentum remains healthy.
The stock, which fell to its 21-month lows last month, has since risen 14 per cent and should see more gains with improving profitability. Revenues at Rs 25.87 billion were up 20 per cent year-on-year and came ahead of Bloomberg consensus estimates of Rs 25.28 billion. Cement ...
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