The country’s third-largest cement group by capacity, Shree Cement Ltd, on Tuesday (March 17) said it has been declared the preferred bidder for the Dommarnandyala-1 limestone block in Andhra Pradesh following its participation in an e-auction conducted by the state government.
The limestone block is located in YSR Kadapa district and spans an area of 373 hectares, the company said. The e-auction was conducted by the government of Andhra Pradesh for the grant of a mining lease for the specified block.
Third quarter results
Shree Cement’s net profit rose 37.9% year-on-year to ₹266.7 crore, compared with ₹193.4 crore a year ago. Revenue grew 5% YoY to ₹4,800 crore, aided by stable volumes and improving demand conditions. EBITDA declined 1.9% YoY to ₹946.8 crore, while margins narrowed to 19.7% from 21.1% in the same period last year.
Also Read: Shree Cement sticks to full-year volume guidance, rules out acquisitions
The company recognised ₹55.99 crore towards additional employee benefit obligations during the quarter under employee benefit expenses, linked to the implementation of the new labour codes. Any further impact will be assessed once detailed rules are notified.
For added context, Chairman HM Bangur had told CNBC-TV18 in December that the company remains committed to its full-year sales guidance of over 36 million tonnes, supported by improving demand after state elections and the festive season.
He reiterated Shree Cement’s focus on organic growth, ruling out acquisitions, and reaffirmed its long-term goal of reaching 80 million tonnes of capacity by 2029.
Shares of Shree Cement Ltd ended at ₹23,696.65, up by ₹357.30, or 1.53%, on the BSE today, March 17.
Also Read: Shree Cements shares get their second-highest price target on volume growth hopes
(Edited by : Shoma Bhattacharjee)
First Published:Â Mar 17, 2026 6:47 PM IST
