Accumulate Shree Cement - Annual Report Analysis - Kotak

- Shree cements' annual report highlights its focus towards capacity addition

- Though cement demand is lower than expectations, company expects it to improve in medium to long term.

- Due to monsoons in Jul-Sep 13, we expect subdued set of Q1FY14 financials from the company.

- We tweak our estimates to factor in annual report details and arrive at a revised price target of Rs 4758 (Rs 5023 earlier). We recommend ACCUMULATE on the stock.

Source : Equity Bulls

Keywords