Shree Cement Chairman HM Bangur said volume growth this year will be better than last year and will outperform the industry [1].
The outlook suggests a period of aggressive expansion for the company despite a cautious view of the broader sector. This positioning indicates a strategy focused on internal efficiency and market share gains rather than external acquisitions.
Speaking during the ICICI Securities Investor Conference 2026, Bangur said that the growth seen this year will be entirely organic [1]. This approach means the company intends to increase its output and market reach through its own operations rather than through mergers or acquisitions.
Bangur also expressed a skeptical view of the current market for corporate acquisitions. He said he is not seeing any investment opportunity in a cement company [1]. This suggests that the company finds the current valuation or operational state of competitors unattractive for purchase.
Recent data reflects the company's upward trajectory. Total sales volume increased to 9.84 million tonnes, which represents a 13% increase from 8.67 million tonnes sequentially [2].
By prioritizing organic growth over acquisitions, Shree Cement is betting on its own capacity to scale. The company's ability to beat industry averages while avoiding the risks of integrating new firms could distinguish its financial performance in the coming year.
“Volume growth this year will be better than last year & will outperform industry”
Shree Cement is signaling a shift toward operational self-reliance. By rejecting external acquisitions and focusing on organic growth, the company is attempting to increase its market share without taking on the debt or integration risks associated with buying other firms. This strategy suggests the leadership believes the current market price for other cement companies is too high relative to their actual value.
