Ambuja Cements Ltd

Ambuja Cements Ltd

₹ 677 1.91%
14 Jun - close price
About

Ambuja Cements Ltd. is among the leading cement companies in India. It is a member of the Adani Group. Currently, Ambuja Cement has a cement capacity of 31 million tonnes with six integrated cement manufacturing plants and eight cement grinding units across the country.[1]

Key Points

Promoter group
Ambuja Cement is a part of the Adani group. The group owns Ambuja Cement, ACC and Sanghi Cements in the cement sector.[1] Adani group has businesses in various sectors like Energy & Utility, Transport & Logistics, Materials, Metal & Mining and B2C.[2] Adani cement has 14% market share as of Q3FY24.[3]

  • Market Cap 1,66,853 Cr.
  • Current Price 677
  • High / Low 690 / 404
  • Stock P/E 49.4
  • Book Value 176
  • Dividend Yield 0.30 %
  • ROCE 14.0 %
  • ROE 10.3 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 25.5%
  • Promoter holding has increased by 7.14% over last quarter.

Cons

  • Stock is trading at 3.85 times its book value
  • The company has delivered a poor sales growth of 4.95% over past five years.
  • Company has a low return on equity of 10.9% 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.

Peer comparison

Sector: Cement Industry: Cement - North India

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
7,715 6,978 6,647 7,625 7,900 8,033 7,143 7,907 7,966 8,713 7,424 8,129 8,894
5,876 5,151 5,231 6,497 6,476 6,922 6,809 6,885 6,727 7,046 6,122 6,397 7,195
Operating Profit 1,838 1,827 1,416 1,128 1,424 1,111 334 1,021 1,239 1,667 1,302 1,732 1,699
OPM % 24% 26% 21% 15% 18% 14% 5% 13% 16% 19% 18% 21% 19%
104 82 98 -31 97 143 75 -18 142 268 480 204 448
Interest 32 39 36 38 32 40 41 43 39 52 61 70 93
Depreciation 269 277 276 330 306 319 331 337 352 372 381 418 453
Profit before tax 1,642 1,593 1,201 728 1,183 895 39 623 989 1,512 1,340 1,448 1,601
Tax % 25% 27% 26% 41% 28% 3% -33% 22% 23% 25% 26% 25% 5%
1,228 1,161 891 431 856 865 51 488 763 1,135 987 1,090 1,526
EPS in Rs 4.77 4.42 3.35 1.46 3.32 3.79 0.47 2.19 3.25 4.56 3.99 4.15 4.80
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Mar 2023 Mar 2024
9,749 9,161 9,955 9,437 20,094 23,609 26,041 27,104 24,516 28,965 38,937 33,160
7,276 7,492 8,022 7,895 16,913 19,751 22,030 22,507 19,511 22,755 33,815 26,760
Operating Profit 2,473 1,669 1,934 1,542 3,181 3,858 4,011 4,597 5,006 6,210 5,122 6,400
OPM % 25% 18% 19% 16% 16% 16% 15% 17% 20% 21% 13% 19%
69 390 419 353 441 335 232 601 288 252 447 1,401
Interest 78 67 66 92 153 206 170 170 140 146 195 276
Depreciation 569 494 513 630 1,461 1,219 1,154 1,153 1,162 1,152 1,645 1,623
Profit before tax 1,896 1,498 1,774 1,173 2,008 2,768 2,919 3,875 3,992 5,164 3,729 5,901
Tax % 32% 15% 16% 31% 29% 30% -2% 28% 22% 28% 19% 20%
1,292 1,278 1,487 808 1,434 1,945 2,973 2,783 3,107 3,711 3,024 4,738
EPS in Rs 8.39 8.27 9.59 5.21 5.57 7.64 10.97 10.55 11.91 14.00 13.01 16.28
Dividend Payout % 43% 44% 46% 54% 50% 47% 14% 14% 151% 45% 19% 12%
Compounded Sales Growth
10 Years: 14%
5 Years: 5%
3 Years: 11%
TTM: -15%
Compounded Profit Growth
10 Years: 11%
5 Years: 8%
3 Years: 11%
TTM: 21%
Stock Price CAGR
10 Years: 12%
5 Years: 26%
3 Years: 26%
1 Year: 48%
Return on Equity
10 Years: 10%
5 Years: 10%
3 Years: 11%
Last Year: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Mar 2023 Mar 2024
Equity Capital 308 309 310 310 397 397 397 397 397 397 397 440
Reserves 8,489 9,153 9,760 9,961 19,424 20,275 21,973 23,681 22,360 24,957 26,301 38,236
60 48 34 35 29 24 40 41 471 477 523 699
3,487 3,446 3,774 3,827 12,974 14,813 14,981 16,059 16,490 19,374 24,501 25,886
Total Liabilities 12,345 12,956 13,878 14,133 32,824 35,509 37,391 40,178 39,718 45,205 51,721 65,261
5,951 6,147 6,310 6,170 21,410 20,898 20,636 20,701 20,486 22,254 23,551 32,388
CWIP 524 698 692 416 582 667 1,008 1,554 2,422 2,168 2,526 2,658
Investments 1,581 1,714 2,097 2,149 175 153 133 150 167 198 214 849
4,289 4,399 4,780 5,398 10,657 13,791 15,613 17,773 16,643 20,585 25,430 29,365
Total Assets 12,345 12,956 13,878 14,133 32,824 35,509 37,391 40,178 39,718 45,205 51,721 65,261

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Mar 2023 Mar 2024
1,860 1,267 1,675 1,557 2,810 3,416 1,703 4,739 4,832 5,309 735 5,646
-388 -496 -456 -83 -4,165 -738 -765 -1,191 -1,317 -2,007 -14,481 -8,941
-509 -672 -721 -900 -958 -1,015 -719 -629 -3,956 -516 2,931 5,689
Net Cash Flow 962 99 498 574 -2,312 1,663 220 2,919 -441 2,786 -10,815 2,394

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Mar 2023 Mar 2024
Debtor Days 8 9 8 11 17 14 18 14 8 8 11 13
Inventory Days 419 379 394 339 323 333 208 193 337 234 268
Days Payable 251 265 299 324 370 339 231 259 359 198 230
Cash Conversion Cycle 8 176 123 107 32 -33 13 -9 -58 -14 46 50
Working Capital Days -54 -54 -61 -65 -67 -62 -34 -56 -80 -73 45 12
ROCE % 26% 16% 18% 11% 11% 12% 12% 14% 14% 17% 13% 14%

Shareholding Pattern

Numbers in percentages

8 Recently
Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Apr 2024
63.26% 63.21% 63.19% 63.20% 63.22% 63.22% 63.22% 63.20% 63.19% 63.19% 66.74% 70.33%
16.52% 14.69% 12.97% 12.82% 11.05% 10.66% 11.16% 12.45% 11.65% 11.88% 11.09% 9.90%
13.35% 15.09% 16.25% 14.98% 16.26% 16.71% 14.48% 14.14% 15.26% 15.56% 14.24% 12.73%
0.26% 0.26% 0.26% 0.26% 0.26% 0.26% 0.26% 0.26% 0.26% 0.26% 0.23% 0.21%
6.61% 6.74% 7.34% 8.75% 9.23% 9.13% 10.87% 9.94% 9.63% 9.10% 7.69% 6.85%
No. of Shareholders 2,90,2453,21,1924,37,8384,36,4494,98,4854,68,8177,04,9946,18,7765,98,1475,64,8475,42,7735,45,152

* 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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