Shree Cement Limited has scheduled its 47th Annual General Meeting (AGM) for Friday, July 31, 2026, at 3:00 PM (IST) at "Rangmanch Auditorium", Bangur Nagar, Beawar, Rajasthan. The company has fixed Friday, July 17, 2026, as the record date to determine member eligibility for the final dividend for the financial year ended March 31, 2026, subject to shareholder approval at the AGM. The notice was filed with BSE Limited and the National Stock Exchange of India Limited pursuant to Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with the Integrated Annual Report for FY 2025-26.

Key Dates for AGM and Dividend

The company has established the following schedule for the AGM proceedings and dividend payment:

The final dividend, if declared by shareholders, will be paid on or after August 3, 2026, to members whose names appear in the Register of Members or Register of Beneficial Owners as of the record date. Remote e-voting will be available from 9:00 AM (IST) on Tuesday, July 28, 2026, to 5:00 PM (IST) on Thursday, July 30, 2026. National Securities Depository Limited (NSDL) has been engaged as the agency to provide the remote e-voting facility.

AGM Agenda and Dividend Details

The ordinary business at the 47th AGM includes adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026, confirmation of the interim dividend, and declaration of the final dividend. The Board of Directors declared an interim dividend of ₹80 per equity share during FY 2025-26 and has recommended a final dividend of ₹70 per equity share, bringing the total dividend for FY 2025-26 to ₹150 per equity share — a 36% increase compared to the aggregate dividend of ₹110 per share paid for FY 2024-25. The AGM will also consider the re-appointment of Mr. Prashant Bangur (DIN: 00403621) as a Director retiring by rotation, and the ratification of remuneration of ₹6,75,000 (plus applicable taxes and reimbursement of out-of-pocket expenses) payable to M/s. K. G. Goyal and Associates, Cost Accountants (Firm Registration No. 000024), as Cost Auditors for the financial year ending March 31, 2027.

Standalone Financial Performance

Shree Cement delivered a healthy recovery in FY 2025-26. The following table summarises the standalone financial performance:

Net revenue from operations grew 7% year-on-year to ₹19,311 Crore, driven by improved realisations and a gradual stabilisation in cement pricing. Total sales volumes rose 4.8% to 37.81 million tonnes. The ratio of premium products to total trade sales improved from 14.9% in FY 2024-25 to 20.8% in FY 2025-26. A notable development during the year was the GST Council's rationalisation of the GST rate on cement from 28% to 18%, which the company fully passed on to customers.

Consolidated Financial Performance

On a consolidated basis, the group also reported strong results for FY 2025-26:

Subsidiary and RMC Business Highlights

Key subsidiary and business developments during FY 2025-26 are summarised below:

The company also approved setting up an Integrated Cement Plant with clinker capacity of 0.95 MTPA and cement capacity of 0.99 MTPA at Village Daistong, East Jaintia Hills District, Meghalaya. Gross investments increased to ₹8,859.92 Crore as of March 31, 2026, from ₹7,063.08 Crore in FY 2024-25. Long-term debt remained stable at ₹728.88 Crore, while net investment position strengthened to ₹8,131.04 Crore.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE070A01015/daf784ed-dde1-4a5b-bcc7-6ef38619a855.pdf

Shree Cement has received a notable upgrade from global brokerage firm HSBC, which has revised its rating on the stock to Buy and assigned a target price of ₹30,780. The upgrade reflects a constructive outlook on the company's operational and financial trajectory, anchored by several key industry and company-specific factors.

HSBC Upgrade: Key Highlights

The following table summarises the key parameters of HSBC's upgraded rating on Shree Cement:

Rationale Behind the Upgrade

HSBC's upgrade to Buy is supported by three primary factors. First, the brokerage expects Shree Cement to deliver industry-leading volume growth, positioning the company ahead of its peers in terms of capacity utilisation and demand capture. Second, margins are anticipated to improve in the second half of FY27, with lower crude prices expected to ease input cost pressures and support profitability. Third, capacity discipline within the industry is seen as a key structural factor that underpins the company's valuation, reducing the risk of oversupply and pricing pressure.

Valuation and Market Context

The target price of ₹30,780 set by HSBC reflects the brokerage's confidence in Shree Cement's ability to leverage favourable macro conditions, including softening raw material costs and a disciplined competitive environment. The combination of volume momentum and margin recovery in 2HFY27 forms the core of the investment thesis presented by HSBC in its upgrade note.