Shree Cement, a cement manufacturer in India, posted a fall of 2.46% in fourth quarter earnings. It earned net profit of Rs 2.77 billion for the quarter ended Jun. 30, 2014 as compared to Rs 2.84 billion in the same period last year.  Total income increased 14.3% to Rs 16.56 billion for the quarter ended Jun. 30, 2013 from Rs 14.49 billion in the year ago period.

Commenting on result, Ankur Kulshrestha, HDFC securities Institutional Research, said, ''Shree Cement reported an EBITDA/t of Rs 1,183, much higher than peers. Volume growth continued to impress and realizations remained strong in the aftermath of the Binani closure. We believe further rerating is possible, if not inevitable. With 23 mTPA capacity clearly visible, SRCM is set for its next round of capacity expansion, likely in Raipur (East), where it has already laid groundwork for future expansion. Recommend Buy with a revised TP of Rs 8,900.''

Vijay Goel, research analyst, Emkay Global Financial Services, said, ''EBITDA at Rs 4.33 billion in line with estimate. Volume growth of 17% yoy continues to beat Industry. Retain Accumulate. Stock valuation at EV/E of 12.3x is in line with large cap peers.''

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