Motilal Oswal - MOSL: MOrning India (14/July/22): 1. Shree Cement (Expansions to drive balanced distribution of capacity); 2. Mind Tree; 3. Specialty Chemicals; 4. IT ISG Update; 5. Capital Market Monthly; 6. Logistics Monthly

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Motilal Oswal

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MOSL: MOrning India (14/July/22): 1. Shree Cement (Expansions to drive balanced distribution of capacity); 2. Mind Tree; 3. Specialty Chemicals; 4. IT ISG Update; 5. Capital Market Monthly; 6. Logistics Monthly

Shree Cement: Expansions to drive balanced distribution of capacity

SRCM's Annual Report highlights about future growth plans and efficiency initiatives. The company has commissioned 3mtpa grinding unit (GU) at Pune, Maharashtra in Feb'22 and 4mtpa (12,000tpd) clinker plant at Baloda Bazar, Chhattisgarh in Mar'22. It aims to reach to 80mtpa cement capacity by FY30, for which announced roadmap to achieve 56mtpa capacities to date.
It continued investments in renewable energy (RE) to enhance green energy share. In FY22 installed wind power capacity of 8.4MW/10.5MW in Karnataka/Maharashtra and announced to install solar power capacity of 106MW at various locations by Sep'22.
SRCM's cement sales volume growth of 4.7% YoY in FY22 was lower than industry volume growth estimates of ~8%. Going forward, we expect SRCM's volume to grow 8%/9% YoY in FY23/24, respectively. We believe that its cost benefits over industry peers will reduce gradually. Maintain Neutral with a TP of INR20,000.

Piping hot news

Passenger vehicle dispatches rise 19% in June as chip supply improves: SIAM

Passenger vehicle wholesales in India rose by 19 per cent year-on-year in June on the back of improvement in semiconductor supplies, according to industry body SIAM. As per the latest data released by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle (PV) dispatches to dealers stood at 275,788 units last month against 231,633 units in June 2021.

14/07/2022 14 EN

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MOSL: MOrning India (14/July/22): 1. Shree Cement (Expansions to drive balanced distribution of capacity); 2. Mind Tree; 3. Specialty Chemicals; 4. IT ISG Update; 5. Capital Market Monthly; 6. Logistics Monthly

MOSL : HOME FIRST FINANCE COMPANY: Earnings in-line with sustained improvement in asset quality

MOSL : SHOPPERS STOP: Ticking the right boxes

MOSL : ERIS LIFESCIENCES: Enhanced efforts toward product launch-related activities

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