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Shree Cement’s other troubles outweigh its green flags

Mint Bangalore

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February 18, 2026

Shree Cement Ltd’s share of green power in total electricity consumption at 60% in Q3FY26 was among the highest in the industry.

- harsha.j@livemint.com

The reading for rivals UltraTech Cement, Ambuja Cements, and ACC was 42.1%, 36.9%, and 31.3%.

Increased thrust on green or renewable power has given Shree an edge on cost optimization over larger peers. The move is part of Shree’s plan to enhance profitability and boost pricing power. Fuel cost at ₹1.56/kcal in Q3FY26 was at an industry-low, management said in the earnings call, and does not expect to exceed ₹1.80 per kcal.

Shree has been ramping up its green power generation capacity, which stood at 634 megawatts (MW) at December-end, up from 582MW at March-end.

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