Shree Cement Limited reported a 24% year-on-year increase in consolidated revenue to ₹5,897 crore for the quarter ended September 30, 2026, compared with ₹4,761 crore in the corresponding quarter last year. The growth was supported by higher sales volumes and an increase in the contribution of premium cement products.
Consolidated cement and clinker sales volumes rose 14% year-on-year to 10.52 million tonnes from 9.23 million tonnes. Domestic sales volumes increased 18% to 9.31 million tonnes from 7.91 million tonnes. Consolidated EBITDA increased 4% to ₹1,016 crore from ₹974 crore in the year-ago quarter. However, EBITDA per tonne declined 8% to ₹966 from ₹1,055, mainly due to higher fuel prices. Premium products accounted for 28.7% of trade volumes in the company’s Indian operations, compared with 21.1% in the corresponding quarter of the previous year.
Neeraj Akhoury, Managing Director of Shree Cement Limited, said the company’s volume growth was supported by deeper market penetration, wider customer reach and execution across its operations. He added that the company continued to focus on premium products, operational efficiency, greater green power utilisation and digital-led productivity improvements.
Shree Cement continued to expand its manufacturing capacity during the quarter. In September 2026, Union Cement Company, a step-down subsidiary in the United Arab Emirates, commissioned a new cement mill with an annual capacity of 3 million tonnes. This increased the subsidiary’s total cement production capacity to 7 million tonnes per year.
In India, the company is developing a greenfield integrated cement plant in Meghalaya, which is expected to be commissioned in the quarter ending March 31, 2028. Shree Cement is also evaluating further expansion opportunities across its markets. The company reported that green electricity accounted for 65.2% of total electricity consumption in the second quarter of FY27, including its wholly owned Indian subsidiaries. Its green power generation capacity stands at 667 MW. The thermal substitution rate improved to 5.2%, compared with 2.3% in the second quarter of FY26.
All manufacturing locations operate on a zero-liquid-discharge basis, treating, recycling and reusing all wastewater generated. The company’s water positivity index exceeded eight times in FY26. Its ready-mix concrete business recorded a 153% year-on-year increase in volumes to 2.73 lakh cubic metres and a 182% rise in revenue to ₹129 crore. The network expanded to 28 commercial plants and 35 plants, including captive units. The business remained operationally EBITDA-positive.
Shree Cement Limited is one of India’s major cement manufacturers, with operations in India and the UAE. The company is pursuing capacity expansion and sustainability initiatives, with a stated goal of exceeding 80 million tonnes of production capacity in the coming years.
