Shree Cements Share Price Gains Nearly 1 pc Post Q4 Announcement 'BUY, SELL or HOLD' Check Share Price Target

The company has reported strong financial of Q4 for the quarter ending in March 2024. Additionally, the cement manufacturer also announced the dividend.
Shree Cement Share Price Target, NSE, BSE, Stock Market, Shree Cement Share Price

Shree Cement Share Price Target (Times Now Digital)

Shree Cement Share Price Target: Shree Cement shares were up by nearly 1 per cent and reached an intraday high of Rs 2,824 per share on the NSE and BSE around 9:20 am on Wednesday. The company has reported strong financial of Q4 for the quarter ending in March 2024. Additionally, the cement manufacturer also announced the dividend. Should investors BUY or SELL to book profits, Does stock still have upside potential to HOLD. Here's is share price target from various brokerages.

Shree Cement Price Target 2024

Jefferies On Shree Cements Share price targe

Stock Brokerage Jefferies has given the stock a 'HOLD' rating, setting Shree Cements share price target at Rs 29,500 per share. The brokerage cited strong volume growth.

Macquarie On Shree Cements Share price target

The stock brokerage Macquarie maintained a 'NEUTRAL' rating for the stock, setting the Shree Cements share price target to Rs 27,034 per share.

Shree Cement Q4 Financial Performance

Shree Cement, financial results for the quarter ended March 31, 2024. The company witnessed a significant 28 per cent year-on-year (YoY) increase in its consolidated net profit, soaring to Rs 675 crore from Rs 526 crore in the corresponding quarter of the previous fiscal year. Let's delve into the key highlights and insights from Shree Cement's latest financial report.
In the quarter under review, Shree Cement's revenue from operations witnessed a healthy growth of 6.5 per cent, reaching Rs 5,433 crore compared to Rs 5,100 crore reported in the same period last year. Moreover, the company's total expenses in the January-March quarter saw a marginal increase of 0.42 per cent to Rs 4775.35 crore, up from Rs 4755 crore in Q4FY23.

Shree Cements FY24 Finacial Performance

For the full financial year ended March 31, 2024, Shree Cement reported a consolidated profit after tax (PAT) of Rs 2396 crore, marking a substantial increase from Rs 1,271 crore recorded in FY23. Similarly, the company's revenue for the fiscal year surged to Rs 20,521 crore, compared to Rs 17,852 crore in the previous fiscal year, reflecting a robust growth trajectory.
Shree Cement's total sale volume for Q4FY24 witnessed an impressive 8 per cent year-on-year growth, rising from 8.83 million tonnes to 9.53 million tonnes. Moreover, the annual sale volume for the fiscal year stood at 35.5 million tonnes, reflecting a robust 12 per cent growth compared to the previous financial year.
One of the noteworthy highlights of Shree Cement's financial performance is the significant surge in its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). The EBITDA soared by an impressive 49 per cent YoY, reaching Rs 1,327 crore for Q4FY24, the highest-ever level achieved by the company. Similarly, the annual EBITDA also reached its highest-ever level of Rs 4,364 crore, underlining Shree Cement's operational efficiency and profitability.

Shree Cements Dividend Announcement

The board of directors of Shree Cement has recommended a final dividend of Rs 55 per equity share for the financial year ending March 31, 2024. This dividend payout underscores the company's commitment to rewarding its shareholders for their continued support and investment in Shree Cements.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
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