Shree Cement expects a strong recovery in cement volumes in the fourth quarter of the current financial year, supported by increased infrastructure activity and higher government spending toward the fiscal year-end, company management said during a 3Q25-26 analyst call.
The company is targeting sales volumes of 9–9.5Mt in the January–March quarter, citing the central government’s push to utilise infrastructure allocations before 31 March. Management noted that while pricing was a key focus earlier in the year, attention is now shifting toward improving capacity utilisation as volumes pick up.
Shree also outlined an expansion plan for its ready-mix concrete (RMC) business, aiming to increase its footprint to 45 plants from 19 within the next six to eight months. The company said the RMC strategy supports its move up the construction value chain, with around 45 per cent of cement consumed at these plants sourced internally.
Total cement capacity is expected to reach 72Mt by March 2026. For the next financial year, Shree has earmarked baseline capital expenditure of INR5bn, primarily for RMC expansion and infrastructure projects such as railway sidings. The company remains debt-free, with cash reserves of around INR60bn, and said green energy accounts for 61 per cent of its total power consumption.
