[Ways-2gain] Fwd: {OST} SHREE CEMENT Q3FY10 Result Update ULJK [1 Attachment]

 

[Attachment(s) from arun varghese included below]

 

Shree Cement (SRCM IN) continue to impress investors with steady growth and better margins. Shree Cement's Q3FY10 result are in line with our expectation. Revenue increased by 30 % on account of improved realisation of cement and demand growth in the North Indian markets.

 

We maintain our longer term positive outlook for the Indian Cement sector. We believe that with demand from real‐estate and construction improving, the cement demand is expected to grow by a CAGR of 10% over the next 3 years. We believe Shree Cement will outperform its peers in terms of growth. 

We expect Shree Cement with its outlandish expansion plans will be the top performer in the Indian midcap cement sector and we raise our target price by ~10% to Rs. 2263 (from (Rs 2060) and recommend BUY on the stock with a potential upside of 10%.

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ShreeCem Q3FY10 ULJK.pdf

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