External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Capacity Expansion Progressing Well: Shree Cement’s capacity expansion strategy remains firmly on track, reflecting its commitment to narrowing the scale gap with larger peers and strengthening its market position.</li><li>The company’s current installed capacity stands at 62.8 MTPA across India, and with ongoing projects advancing as planned, total capacity is expected to reach 68.8 MTPA by the end of FY26.</li><li>This well-calibrated expansion underpins a projected volume CAGR of around 6% over FY25–FY27E, supported by enhanced regional presence and incremental contributions from new capacities.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Capacity Expansion Progressing Well: Shree Cement’s capacity expansion strategy remains firmly on track, reflecting its commitment to narrowing the scale gap with larger peers and strengthening its market position.The company’s current installed capacity stands at 62.8 MTPA across India, and with ongoing projects advancing as planned, total capacity is expected to reach 68.8 MTPA by the end of FY26.This well-calibrated expansion underpins a projected volume CAGR of around 6% over FY25–FY27E, supported by enhanced regional presence and incremental contributions from new capacities.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Shree Cement Limited - Missed Margin Estimates on Higher Costs; Retain BUY

<ul><li>Revenue and Volume Trajectory: The company reported sales of Rs 18,037 Cr, down 8% YoY, on account of lower demand and blended realisation in key markets in the North and East India.</li><li>Its blended realisation for the year declined by 9% to Rs 5,031/tonne.</li><li>The cement sales volume increased moderately by 0.9% YoY (35.9 mtpa in FY25 vs. 35.5 mtpa in FY24 ), as demand was impacted owing to the general election, excessive rainfall, and lower government capex.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Revenue and Volume Trajectory: The company reported sales of Rs 18,037 Cr, down 8% YoY, on account of lower demand and blended realisation in key markets in the North and East India.Its blended realisation for the year declined by 9% to Rs 5,031/tonne.The cement sales volume increased moderately by 0.9% YoY (35.9 mtpa in FY25 vs. 35.5 mtpa in FY24 ), as demand was impacted owing to the general election, excessive rainfall, and lower government capex.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Shree Cement - Growth Through Capacity Expansion, Premiumization, & Market Diversification

<ul><li>Capacity Expansion On Track: Shree Cement’s capacity expansion strategy remains on course, underscoring its intent to bridge the scale gap with larger peers and consolidate its market standing.</li><li>The current installed capacity stands at 62.8 MTPA across India.</li><li>With upcoming projects progressing as scheduled, the total capacity is projected to reach 68.8 MTPA by FY26-end. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Capacity Expansion On Track: Shree Cement’s capacity expansion strategy remains on course, underscoring its intent to bridge the scale gap with larger peers and consolidate its market standing.The current installed capacity stands at 62.8 MTPA across India.With upcoming projects progressing as scheduled, the total capacity is projected to reach 68.8 MTPA by FY26-end. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Shree Cement Limited - Strong Operating Performance Driven By Higher Prices; Retain BUY

<ul><li>Capacity Expansion Progressing Well: Shree Cement’s capacity expansion program is progressing on schedule.</li><li>These strategic additions aim to narrow the gap with larger competitors and reinforce the company’s market position.</li><li>As of now, the company's installed capacity in India stands at 62.8 MTPA. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Capacity Expansion Progressing Well: Shree Cement’s capacity expansion program is progressing on schedule.These strategic additions aim to narrow the gap with larger competitors and reinforce the company’s market position.As of now, the company's installed capacity in India stands at 62.8 MTPA. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Shree Cement Limited - EBITDA Beat Led By Lower Costs & Higher Realisation; Retain BUY

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

Aditya Birla Capital Ltd / Index Rebalance

<ul>
<li>There could be 19 constituent changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 30 December.</li>
<li>If all changes are on expected lines, one-way turnover is estimated at 64.2% and that will result in a round-trip trade of INR 163bn (US$1.8bn).</li>
<li>The adds have outperformed the deletes in the short-term. With the index based on momentum, there could be further gains over the next couple of weeks.</li>
</ul>


There could be 19 constituent changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 30 December.
If all changes are on expected lines, one-way turnover is estimated at 64.2% and that will result in a round-trip trade of INR 163bn (US$1.8bn).
The adds have outperformed the deletes in the short-term. With the index based on momentum, there could be further gains over the next couple of weeks.


NIFTY200 Momentum30 Index Rebalance Preview: 64% One-Way Turnover & US$1.8bn Trade

India

Shree Cement Ltd. manufactures cement and cement products. The Company sells its products primarily in Northern India under its own brand names.

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Shree Cement (SRCM IN)

Shree Cement Limited - Missed Margin Estimates on Higher Costs; Retain BUY

Shree Cement’s capacity expansion strategy remains firmly on track, reflecting its commitment to narrowing the scale gap with larger peers and...

Axis Direct

Shree Cement - Growth Through Capacity Expansion, Premiumization, & Market Diversification

The company reported sales of Rs 18,037 Cr, down 8% YoY, on account of lower demand and blended realisation in key markets in the North and East...

Axis Direct

Shree Cement Limited - Strong Operating Performance Driven By Higher Prices; Retain BUY

This calibrated expansion supports our volume CAGR estimate of 6% over FY25– FY27E, driven by improved regional penetration and incremental gains...

Axis Direct

Shree Cement Limited - EBITDA Beat Led By Lower Costs & Higher Realisation; Retain BUY

These strategic additions aim to narrow the gap with larger competitors and reinforce the company’s market position. As of now, the company's...

Axis Direct

NIFTY200 Momentum30 Index Rebalance Preview: 64% One-Way Turnover & US$1.8bn Trade

We forecast 19 changes for the index in Dec. One-way turnover is estimated at 64.2% resulting in a round-trip trade of INR 163bn (US$1.8bn). The...

Brian Freitas

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