India Cements Ltd

India Cements Ltd

₹ 235 1.22%
24 Jun - close price
About

India Cements Ltd is a leading cement manufacturing company headquartered in Chennai. It was incorporated in the year 1946 by Shri S N N Sankaralinga Iyer and Sri T S Narayanaswami. While retaining cement over the years as its mainstay, India Cements has ventured into related fields like shipping, captive power and coal mining that have purposeful synergy to the core business. The co is also a sponsor of the IPL franchise “Chennai Super Kings”. [1]

Key Points

Revenue Mix
The revenue for the company for FY20 was mainly contributed by the sale of cement (95% of total revenues). [1]

  • Market Cap 7,268 Cr.
  • Current Price 235
  • High / Low 277 / 173
  • Stock P/E
  • Book Value 180
  • Dividend Yield 0.00 %
  • ROCE -0.73 %
  • ROE -4.72 %
  • Face Value 10.0

Pros

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -2.39% over past five years.
  • Promoter holding is low: 28.4%
  • Company has a low return on equity of -2.93% over last 3 years.
  • Promoters have pledged 46.2% of their holding.
  • Earnings include an other income of Rs.107 Cr.

* 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 - South 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
1,472 1,045 1,235 1,161 1,418 1,514 1,327 1,281 1,486 1,437 1,264 1,144 1,267
1,307 881 1,093 1,046 1,355 1,475 1,403 1,341 1,533 1,428 1,260 1,096 1,229
Operating Profit 166 165 142 115 63 40 -76 -60 -47 8 4 49 38
OPM % 11% 16% 12% 10% 4% 3% -6% -5% -3% 1% 0% 4% 3%
23 3 7 7 7 10 11 311 -106 7 8 56 36
Interest 54 47 51 51 49 61 70 62 50 58 60 60 65
Depreciation 63 56 58 56 56 54 55 55 55 54 55 58 58
Profit before tax 72 65 40 15 -34 -64 -190 135 -258 -97 -103 -14 -49
Tax % 39% 29% 18% 13% 24% 230% 36% 17% 5% 24% 17% 53% -2%
46 44 34 20 -10 82 -110 133 -229 -87 -80 1 -61
EPS in Rs 1.62 1.39 0.96 0.52 -0.34 2.58 -3.65 4.30 -7.32 -2.82 -2.58 0.02 -1.95
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
5,157 5,082 5,057 4,879 5,158 5,267 5,770 5,186 4,511 4,858 5,608 5,112
4,219 4,458 4,294 4,006 4,267 4,548 5,131 4,588 3,715 4,373 5,749 5,013
Operating Profit 937 624 763 873 891 720 639 599 796 486 -141 99
OPM % 18% 12% 15% 18% 17% 14% 11% 12% 18% 10% -3% 2%
23 -135 22 21 17 14 26 24 32 23 224 107
Interest 369 411 478 440 380 365 350 343 271 198 242 244
Depreciation 324 320 303 291 276 279 265 256 247 226 219 226
Profit before tax 267 -241 4 164 252 90 50 24 311 85 -378 -263
Tax % 33% -0% 127% 29% 37% 21% 49% -126% 33% 23% 55% 18%
192 -239 -1 119 159 69 26 51 209 87 -125 -227
EPS in Rs 6.12 -7.92 -0.11 3.80 5.41 2.11 0.68 1.62 6.67 2.53 -4.09 -7.34
Dividend Payout % 33% 0% 0% 26% 19% 38% 118% 37% 15% 40% -24% 0%
Compounded Sales Growth
10 Years: 0%
5 Years: -2%
3 Years: 4%
TTM: -9%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 16%
Stock Price CAGR
10 Years: 7%
5 Years: 17%
3 Years: 7%
1 Year: 10%
Return on Equity
10 Years: 0%
5 Years: -1%
3 Years: -3%
Last Year: -5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 307 307 307 308 308 308 310 310 310 310 310 310
Reserves 3,684 3,364 3,073 4,742 4,867 4,961 4,936 5,188 5,388 5,637 5,466 5,265
Preference Capital 0 0 0 0 0 0 12 10 11 0 0
3,316 3,498 3,502 3,296 3,100 3,197 3,344 3,582 3,041 3,091 2,945 2,618
1,916 1,962 1,805 2,345 2,674 2,479 2,707 2,589 2,351 3,005 2,746 2,508
Total Liabilities 9,223 9,132 8,687 10,692 10,950 10,946 11,297 11,670 11,090 12,043 11,467 10,701
5,199 5,210 4,599 7,488 7,260 7,146 7,072 7,206 7,065 7,101 6,803 6,874
CWIP 356 112 98 99 134 176 196 235 300 386 313 190
Investments 446 442 440 357 358 358 371 382 381 408 334 319
3,221 3,368 3,550 2,748 3,198 3,265 3,659 3,847 3,344 4,147 4,016 3,318
Total Assets 9,223 9,132 8,687 10,692 10,950 10,946 11,297 11,670 11,090 12,043 11,467 10,701

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
732 516 645 964 765 556 377 387 1,046 439 -19 344
-544 -184 -124 -220 -158 -306 -202 -282 -189 -250 435 248
-190 -335 -520 -757 -605 -235 -180 -110 -860 -183 -397 -572
Net Cash Flow -2 -3 1 -14 2 16 -5 -6 -3 6 19 19

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 35 33 37 42 37 45 47 52 46 70 54 50
Inventory Days 289 281 287 267 306 258 287 312 270 368 258 212
Days Payable 460 459 402 447 522 441 458 490 488 565 438 418
Cash Conversion Cycle -137 -145 -78 -138 -178 -138 -124 -127 -173 -127 -126 -156
Working Capital Days -6 -20 -3 -42 -12 8 8 15 28 68 109 79
ROCE % 9% 4% 7% 8% 8% 5% 5% 4% 7% 3% -4%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
28.42% 28.42% 28.42% 28.42% 28.42% 28.42% 28.42% 28.42% 28.42% 28.42% 28.42% 28.42%
13.32% 13.22% 13.20% 13.29% 13.42% 13.86% 13.07% 13.15% 13.65% 13.43% 13.58% 13.27%
7.59% 6.30% 7.91% 8.84% 7.69% 9.50% 9.90% 9.38% 9.43% 10.04% 8.94% 8.47%
50.67% 52.07% 50.47% 49.46% 50.47% 48.24% 48.62% 49.04% 48.52% 48.12% 49.06% 49.83%
No. of Shareholders 1,61,6401,65,8841,81,4981,85,6491,95,5511,82,6231,89,4471,95,9741,94,2541,85,7581,96,4262,06,667

* 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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