Buy Shree Cements, target price Rs 23550: Emkay Global

Emkay Global has buy call on Shree Cements with a target price of Rs 23550. The current market price of Shree Cements Ltd. is Rs 21253.9. Time period given by analyst is one year when Shree Cements Ltd. price can reach defined target.

Shree Cements Ltd., incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 76686.74 Crore) operating in Cement sector.

Shree Cements Ltd. key Products/Revenue Segments include Cement, Power, Other Operating Revenue, Traded Goods, Clinker, Scrap for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 4394.75 Crore, down -2.37 % from last quarter Total Income of Rs 4501.60 Crore and up 16.39 % from last year same quarter Total Income of Rs 3775.94 Crore. Company reported net profit after tax of Rs 278.86 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 62.55 per cent stake in the company as of 30-Jun-2022, while FIIs owned 11.85 per cent, DIIs 11.22 per cent.