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Shree Cement's Valuation Discounted Vs Historical Says Motilal Oswal Maintaining 'Neutral' Stance
Motilal Oswal believes that low-capacity utilization and limited regional diversification into new capacity addition constrain any capacity-led re-rating in the stock.
19 Nov 2025, 10:39 AM IST 
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Shree Cement trades fairly at 17x/15x FY27E/FY28E EV/Ebitda, given the moderate earnings growth, limited cost-saving levers and low return ratios. (Photo Courtesy: Pexels)
Shree Cement has been comparatively slower than its peers in terms of capacity expansion in one of its core markets in the north region, which led to market share loss for Shree Cement and also risks its pricing strategy over the medium term. The company’s capacity share in the north region declined to ~22% in FY25 from the peak of ~24% in FY19, and it is further estimated to decline to ~19% by FY28E, given aggressive expansion by pe...
