Shree Cement loses some ground to UltraTech in valuation contest
Shree Cement’s volume growth of 15% y-o-y was ahead of the Street’s 11-12% growth expectation
UltraTech saw a volume growth of 14% y-o-y in Q3, with it aiming to become net debt free by FY23
Shree Cement Ltd reported stellar earnings in the December quarter, exceeding analysts’ estimates on many parameters. Volume growth of 15% year-on-year (y-o-y) was ahead of the Street’s estimated 11-12% growth range. Although Shree’s earnings were better than estimates, close competitor UltraTech Cement Ltd also posted impressive earnings. UltraTech’s volumes grew 14% y-o-y in Q3FY21.
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