Buy Shree Cements, target price Rs 23300: Emkay Global Financial Services

Emkay Global Financial Services has buy call on Shree Cements with a target price of Rs 23300.The current market price of Shree Cements is Rs 23190.

Shree Cements, incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 83444.85 Crore) operating in Cement sector.

Shree Cements 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 30-09-2022, the company has reported a Consolidated Total Income of Rs 4197.37 Crore, down -4.49 % from last quarter Total Income of Rs 4394.75 Crore and up 19.01 % from last year same quarter Total Income of Rs 3526.95 Crore. Company has reported net profit after tax of Rs 183.24 Crore in latest quarter.

The company’s top management includes Mr.B G Bangur, Mr.Nitin Dayalji Desai, Mr.Shreekant Somany, Mr.Zubair Ahmed, Mr.R L Gaggar, Mr.Sanjiv Krishnaji Shelgikar, Mr.P N Chhangani, Mr.Prashant Bangur, Mr.H M Bangur, Ms.Uma Ghurka. Company has Gupta & Dua as its auditors. As on 30-09-2022, the company has a total of 4 Crore shares outstanding.

Promoter/FII Holdings
Promoters held 62.55 per cent stake in the company as of 30-Sep-2022, while FIIs owned 11.85 per cent, DIIs 10.79 per cent.