Shree Cement Q2 FY27: Revenue up 24% to ₹5,897 Cr, Volumes rise 18%
Shree Cement reported Q2 FY27 results with consolidated revenue up 24% YoY to ₹5,897 Crore and volumes growing 18% to 9.31 million tonnes. EBITDA increased 4% YoY to ₹1,016 Crore. Premium products contributed 28.7% of trade volumes. A new cement mill was commissioned in UAE, and a greenfield plant is planned in Meghalaya.
The results include significant financial growth, capacity expansion announcements, and positive outlook, which are material to investors.
The company reported strong year-on-year growth in revenue and volumes, along with strategic capacity expansions and positive commentary from the Managing Director.
Shree Cement Limited announced its financial results for the quarter and half-year ended September 30, 2026, reporting robust growth across key financial metrics.
For the quarter ended September 30, 2026, consolidated revenue grew by 24% year-on-year (YoY) from ₹4,761 Crore to ₹5,897 Crore. Consolidated EBITDA saw a 4% YoY increase, rising from ₹974 Crore to ₹1,016 Crore. However, consolidated EBITDA per ton declined by 8% YoY from ₹1,055 to ₹966, primarily attributed to elevated fuel prices.
Operational highlights include an 18% YoY growth in total domestic sale volume (cement and clinker) to 9.31 million tonnes, with consolidated volumes also up 14% YoY to 10.52 million tonnes. The sales of premium products in India operations increased to 28.7% of total trade volume compared to 21.1% in the corresponding quarter of the previous year.
Mr. Neeraj Akhoury, Managing Director, Shree Cement Limited, stated that the strong performance was driven by volume growth, deeper market penetration, enhanced customer reach, and disciplined execution. He highlighted the continued focus on premiumisation and operational excellence through efficiency initiatives, increased green power utilization, and digital-led productivity improvements.
In terms of capacity expansion, Union Cement Company, a step-down subsidiary in the UAE, commissioned a new cement mill with a capacity of 3.0 million tonnes per annum in September 2026, increasing its total capacity to 7.0 million tonnes per annum. In India, a greenfield integrated plant in Meghalaya is expected to be commissioned by the quarter ending March 31, 2028.
The company also emphasized its sustainability initiatives, with green electricity accounting for 65.2% of total electricity consumption in Q2'FY27. Green power generation capacity stands at 667 MW. All manufacturing locations are Zero Liquid Discharge, with efforts to improve the water positivity index to over 8 times in FY2025-26.
The Ready-Mix Concrete (RMC) business demonstrated strong growth, with volumes increasing by 153% YoY to 2.73 lakh m³ and revenue growing by 182% YoY to ₹129 Crore. The commercial network expanded to 28 plants, with the overall network reaching 35 plants.
The company noted a supportive economic outlook for India, driven by infrastructure spending and urban development, which is expected to support cement demand.
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