Jefferies projects an 8-10% volume growth for Indian cement companies in H2FY25, driven by improving demand and revival in government capex. It highlighted Ultratech Cement as a top large-cap pick and JK Cement as a mid-cap favorite, with cement stocks rallying up to 5%.

1. J K Cements Limited

With a market capitalization of Rs. 34,840.35 crores, the shares of J K Cements Limited were closed at Rs. 4,510 per equity share, rising nearly around 5.46 percent from its previous day’s close price of Rs. 4,276.35.

J K Cements Limited’s revenue from operations has increased by 18.89 percent from Rs. 9,720 crore in FY23 to Rs. 11,556 crore in FY24. The company’s net profit has increased from Rs. 416 crore in FY23 to Rs. 790 crore in FY24, which has grown by 89.90 percent. 

JK Cement Limited was established in 1994, is headquartered in Kanpur, Uttar Pradesh, India, and is a leading manufacturer of grey and white cement. The company produces a variety of building materials, including wall putty and waterproof compounds, serving both domestic and international markets with a commitment to quality and innovation.

2. UltraTech Cement Limited

With a market capitalization of Rs. 3,36,034.44 crores, the shares of UltraTech Cement Limited closed at Rs. 11,639.65 per equity share, rising nearly around 3.93 percent from its previous day’s close price of Rs. 11,199.50.

UltraTech Cement Limited’s revenue from operations has increased by 12.13 percent from Rs. 63,240 crore in FY23 to Rs. 70,908 crore in FY24. The company’s net profit has increased from Rs. 5,073 crore in FY23 to Rs. 7,004 crore in FY24, which has grown by 38.06 percent. 

3. Ambuja Cements Limited

With a market capitalization of Rs. 1,32,750.04 crores, the shares of Ambuja Cements Limited closed at Rs. 538.95  per equity share, rising nearly around 1.34 percent from its previous day’s close price of Rs. 531.80.

Ambuja Cements Limited’s revenue from operations has increased by 17.42 percent from Rs. 33,159.64 crore in FY23 to Rs. 38,937.03 crore in FY24. The company’s net profit has decreased from Rs.  4,738.01 crore in FY23 to Rs. 3,024.38 crore in FY24, which has down by 56.66 percent. 

UltraTech Cement Limited was established in 1983 and headquartered in Mumbai, Maharashtra, and is the largest manufacturer of grey and white cement in India. As a subsidiary of the Aditya Birla Group, it operates internationally, producing a wide range of cement products and ready-mix concrete with a capacity exceeding 152 million tonnes per annum.

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4. Dalmia Bharat Limited

With a market capitalization of Rs. 35,287.42 crores, the shares of Dalmia Bharat Limited closed at Rs. 1,818.35  per equity share, rising nearly around 3.46 percent from its previous day’s close price of Rs. 1,881.35.

Dalmia Bharat Limited’s revenue from operations has increased by 8.40 percent from Rs. 13,552 crore in FY23 to Rs. 14,691 crore in FY24. The company’s net profit has decreased from Rs. 1,079 crore in FY23 to Rs. 853 crore in FY24, which has down by 26.49 percent. 

Dalmia Bharat Limited was established in 1939 and headquartered in New Delhi, India, and is a prominent Indian conglomerate primarily engaged in cement manufacturing. It ranks as the fourth largest cement producer in India, with diversified interests in sugar, refractories, and renewable energy, emphasizing sustainable practices and innovation in its operations.

5. Shree Cement Limited

With a market capitalization of Rs. 96,638.13 crores, the shares of Shree Cement Limited were closed at Rs. 26,783.85  per equity share, rising nearly around 2.78 percent from its previous day’s close price of Rs. 26,060.15.

Shree Cement Limited’s revenue from operations has increased by 14.95 percent from Rs. 17,852 crore in FY23 to Rs. 20,521 crore in FY24. The company’s net profit has decreased from Rs. 1,269 crore in FY23 to Rs. 2,396 crore in FY24, which has down by 88.81 percent. 

Shree Cement Limited was founded in 1979 and is headquartered in Kolkata, India, and is a major player in the cement industry. With a production capacity of 46.40 million tonnes per annum, it operates across multiple states and offers brands like Shree Ultra and Bangur Cement, also engaging in power generation through waste heat recovery.

Written By – Nikhil Naik

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