Shree Cement Q2 Results Live : Shree Cement declared their Q2 results on 11 November 2024, revealing a significant decline in performance compared to the previous year. The company’s topline decreased by 15.54% year-over-year, while profit plummeted by an alarming 82.89%. In comparison to the previous quarter, revenue fell by 20.88%, and profit decreased by 72.56%.
In terms of expenses, Shree Cement reported a reduction in selling, general, and administrative expenses, which declined by 14.35% quarter-over-quarter and by 1.68% year-over-year. However, this reduction was not sufficient to offset the dramatic drop in revenue and profit.
The operating income for the quarter was particularly concerning, showing a decrease of 145.93% quarter-over-quarter and a decrease of 121.59% year-over-year. This steep decline has raised alarms among investors and analysts alike.
The earnings per share (EPS) for Q2 stood at ₹21.18, marking an 82.89% decrease year-over-year. This significant drop in EPS reflects the company’s struggles in maintaining profitability amidst declining revenues.
Shree Cement has experienced negative returns in recent months, delivering -1.8% return in the last week, -6.06% return over the past six months, and -14.78% year-to-date. These figures indicate a troubling trend for investors.
Currently, Shree Cement has a market capitalization of ₹88,102.88 crore, with its 52-week high and low at ₹30,737.75 and ₹23,700, respectively. The stock’s performance has been under scrutiny as analysts weigh in on the company’s future.
As of 12 November 2024, out of 36 analysts covering Shree Cement, only 2 have given a ‘Strong Sell’ rating, while 5 have rated it as ‘Sell’. A total of 16 analysts have issued a ‘Hold’ rating, 7 have given a ‘Buy’ rating, and 6 analysts have rated it as ‘Strong Buy’.
The consensus recommendation as of 12 November 2024 is to ‘Hold’, suggesting that while the company faces significant challenges, analysts are not yet ready to issue a strong sell signal.
