The Ramco Cements Ltd

The Ramco Cements Ltd

₹ 906 -0.89%
25 May - close price
About

Ramco Cements Ltd is engaged in manufacture of cement, Ready Mix Concrete (RMC) and Dry mortar products. It primarily caters to the domestic market of India.[1]

Key Points

Product Offerings
The company produces 13 types of cement for different uses and 8 construction chemicals.[1]
It also manufactures and sells dry mix products and ready mix concrete (RMC) [2]

  • Market Cap 21,459 Cr.
  • Current Price 906
  • High / Low 1,214 / 860
  • Stock P/E 83.4
  • Book Value 345
  • Dividend Yield 0.22 %
  • ROCE 6.16 %
  • ROE 3.29 %
  • Face Value 1.00

Pros

Cons

  • Stock is trading at 2.63 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 11.3% over past five years.
  • Company has a low return on equity of 3.45% over last 3 years.
  • Earnings include an other income of Rs.597 Cr.
  • Dividend payout has been low at 11.6% of profits over last 3 years

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
2,570 2,241 2,329 2,106 2,673 2,088 2,038 1,977 2,392 2,070 2,235 2,101 2,606
2,157 1,900 1,931 1,711 2,256 1,769 1,726 1,697 2,071 1,672 1,848 1,821 2,233
Operating Profit 413 341 399 395 417 319 312 279 321 398 387 281 373
OPM % 16% 15% 17% 19% 16% 15% 15% 14% 13% 19% 17% 13% 14%
12 8 13 7 14 8 11 340 24 6 7 497 86
Interest 77 93 117 102 104 113 120 113 113 105 111 108 95
Depreciation 141 148 157 166 165 167 169 174 182 183 182 184 187
Profit before tax 207 108 138 135 162 48 35 333 49 116 100 486 177
Tax % 26% 27% 27% 31% 25% 26% 27% 2% 37% 26% 26% 20% 17%
152 79 101 93 121 36 26 325 31 86 74 387 146
EPS in Rs 6.45 3.34 4.29 3.95 5.14 1.50 1.08 13.77 1.31 3.64 3.14 16.37 6.20
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
3,645 3,573 3,950 4,406 5,146 5,368 5,268 5,980 8,135 9,350 8,495 9,013
2,931 2,501 2,754 3,305 4,109 4,231 3,720 4,695 6,953 7,797 7,262 7,574
Operating Profit 714 1,072 1,195 1,101 1,038 1,138 1,548 1,285 1,183 1,553 1,233 1,438
OPM % 20% 30% 30% 25% 20% 21% 29% 21% 15% 17% 15% 16%
87 88 44 36 28 37 35 30 37 42 384 597
Interest 195 182 104 60 52 73 88 113 241 416 460 419
Depreciation 250 305 284 292 299 315 355 401 504 636 691 736
Profit before tax 356 673 850 785 716 787 1,140 801 474 543 466 879
Tax % 32% 19% 24% 29% 29% 24% 33% -11% 27% 27% 10% 21%
242 542 649 556 506 601 761 893 344 395 417 694
EPS in Rs 10.18 22.77 27.27 23.59 21.47 25.52 32.26 37.78 14.54 16.72 17.66 29.35
Dividend Payout % 15% 13% 11% 13% 14% 10% 9% 8% 14% 15% 11% 9%
Compounded Sales Growth
10 Years: 10%
5 Years: 11%
3 Years: 3%
TTM: 6%
Compounded Profit Growth
10 Years: -7%
5 Years: -20%
3 Years: -9%
TTM: 125%
Stock Price CAGR
10 Years: 6%
5 Years: -1%
3 Years: 1%
1 Year: -10%
Return on Equity
10 Years: 9%
5 Years: 6%
3 Years: 3%
Last Year: 3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 24 24 24 24 24 24 24 24 24 24 24 24
Reserves 2,621 3,070 3,718 4,019 4,437 4,895 5,603 6,501 6,770 7,120 7,470 8,119
2,712 2,124 1,425 1,113 1,619 3,032 3,110 3,950 4,507 4,936 4,675 3,871
1,645 1,677 1,843 1,938 2,029 2,096 2,609 2,581 3,216 4,088 4,206 4,667
Total Liabilities 7,002 6,894 7,009 7,093 8,108 10,047 11,346 13,056 14,517 16,168 16,374 16,681
4,876 4,901 5,183 5,298 5,376 6,027 6,957 7,752 10,174 12,043 12,338 12,984
CWIP 263 147 120 175 853 1,840 2,355 3,034 1,987 1,378 1,386 922
Investments 356 372 148 159 175 189 201 201 202 223 135 104
1,508 1,475 1,557 1,461 1,705 1,991 1,833 2,069 2,153 2,524 2,515 2,671
Total Assets 7,002 6,894 7,009 7,093 8,108 10,047 11,346 13,056 14,517 16,168 16,374 16,681

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
956 1,085 1,105 1,113 790 740 1,885 1,129 1,405 1,887 1,402 1,611
-482 -263 -276 -483 -1,191 -1,932 -1,771 -1,810 -1,687 -1,900 -545 -337
-457 -943 -659 -787 643 1,213 -64 715 274 -28 -782 -1,257
Net Cash Flow 17 -121 171 -157 242 20 50 34 -7 -41 75 17
Free Cash Flow 518 808 801 619 -411 -1,179 120 -680 -358 -27 461 1,216
CFO/OP 144% 115% 108% 117% 91% 77% 135% 100% 121% 124% 115% 115%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 38 48 51 37 35 36 26 21 21 33 31 32
Inventory Days 279 340 313 272 241 270 252 342 240 209 215 196
Days Payable 123 133 139 130 111 143 153 198 173 211 198 228
Cash Conversion Cycle 194 256 225 179 165 163 125 165 87 31 48 -0
Working Capital Days -37 -80 -67 -53 -54 -58 -77 -76 -61 -72 -98 -90
ROCE % 10% 16% 18% 16% 14% 12% 15% 10% 7% 8% 5% 6%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Cement Capacity Utilization
%

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Cement Grinding Capacity
Lac Tons
Cement Sales Volume
Lac Tons
Clinker Conversion Ratio
Times
Green Power Share
%
Share of Premium Products
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
42.11% 42.11% 42.11% 42.29% 42.29% 42.29% 42.75% 42.55% 42.55% 42.55% 42.55% 42.55%
7.95% 7.85% 7.94% 7.43% 7.38% 6.61% 6.88% 7.29% 8.43% 8.15% 7.98% 8.04%
32.44% 33.37% 32.92% 32.24% 31.14% 30.87% 30.89% 30.14% 27.85% 28.48% 28.15% 28.92%
3.39% 3.39% 3.39% 3.39% 3.39% 3.39% 3.39% 3.39% 3.39% 3.39% 3.39% 3.39%
14.11% 13.29% 13.64% 14.66% 15.81% 16.85% 16.10% 16.64% 17.77% 17.42% 17.94% 17.10%
No. of Shareholders 47,89747,10546,99356,32776,16576,44763,10162,36056,97257,83856,02952,680

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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