GST cut boosts cement stocks? A deep dive into Shree & Dalmia’s Q2 results

Shree Cement and Dalmia Bharat benefited from strong growth in price realisations in the September 2025 quarter, which is typically a slack season for cement demand, given the monsoon season. The government has cut GST on cement to 18% and demand for cement is expected to be strong in most parts of the country in the second half of FY26. However, cement stocks trade at very high valuations and broadly factor in the growth opportunities over the next few quarters