According to reports from CNBC TV18, Shree Cement Ltd, the country's third-largest cement group by capacity, has been declared the preferred bidder for the Dommarnandyala-1 limestone block in Andhra Pradesh. The limestone block is located in YSR Kadapa district and spans an area of 373 hectares. The e-auction was conducted by the government of Andhra Pradesh for the grant of a mining lease for the specified block. As per the latest disclosure made on March 17, 2026, this strategic acquisition significantly boosts the company's raw material security for its cement production facilities.
As reported by CNBC TV18, 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. However, EBITDA declined 1.9% YoY to ₹946.8 crore, while margins narrowed to 19.7% from 21.1% in the same period last year.
According to CNBC TV18, shares of Shree Cement Ltd ended at ₹23,696.65, up by ₹357.30, or 1.53% on the BSE on March 17. 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.
As reported by CNBC TV18, Chairman HM Bangur had previously 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.
