Shree Cement share price: Axis Securities initiates coverage with BUY recommendation and target price of Rs 29500/Share
Shree Cement is the second-largest cement producer in India with an operating capacity of 43.4 million tonnes per annum (mntpa) and commands an estimated market share of 8%. Shree Cement enjoys a leadership position in North India with an estimated market share of 24%. It has embarked on the expansion plan to increase its capacity to 46.4 mntpa which is expected to become operational in Q4 FY21 and Q1 FY22.
Shree Cement is expected to report Revenue / EBITDA / APAT CAGR of 14%/13%/17% respectively over the period FY21-23E. The said growth will be driven by an estimated volume CAGR of 12%: Reuters