Buy Shree Cements, target price Rs 29700: ICICI Securities

ICICI Securities has buy call on Shree Cements with a target price of Rs 29700. The current market price of Shree Cements is Rs 22492.55. 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 82361.70 Crore) operating in Cement sector.

Shree Cements Ltd. key Products/Revenue Segments include Cement, Other Operating Revenue, Clinker, Power and Scrap for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 3750.96 Crore, up 6.35 % from last quarter Total Income of Rs 3526.95 Crore and up 2.78 % from last year same quarter Total Income of Rs 3649.38 Crore. Company reported net profit after tax of Rs 482.70 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 62.55 per cent stake in the company as of 31-Dec-2021, while FIIs owned 13.05 per cent, DIIs 10.5 per cent.