Niraj Cement Structurals Ltd

₹ 57.3 1.06%

11 Jun 1:59 p.m.

About

Incorporated in 1972, Niraj Cement Structurals Ltd provides infrastructural services^[1]

Key Points

Business Overview:^[1]^[2]
NCSL is in the business of specialty engineering construction and infrastructure. It provides end-to-end solutions, highways, bridges, water supply and drainage, irrigation, land storm water drainage, expressways, turnkey projects roads, tunnels and other infrastructural work

Website BSE NSE

Market Cap ₹ 342 Cr.
Current Price ₹ 57.3
High / Low ₹ 75.0 / 42.0
Stock P/E 22.0
Book Value ₹ 44.8
Dividend Yield 0.00 %
ROCE 10.4 %
ROE 7.82 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.
Company has delivered good profit growth of 41.0% CAGR over last 5 years

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding is low: 24.9%
Company has a low return on equity of 7.16% over last 3 years.
Earnings include an other income of Rs.6.18 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

Industrials Construction Construction Civil Construction

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	157.16	80.23	106.61	105.00	313.46	99.07	110.98	126.18	133.99	82.39	138.02	119.70	166.61
	156.83	79.17	105.60	104.20	307.43	99.10	108.82	122.74	125.68	82.09	132.53	117.29	158.36
Operating Profit	0.33	1.06	1.01	0.80	6.03	-0.03	2.16	3.44	8.31	0.30	5.49	2.41	8.25
OPM %	0.21%	1.32%	0.95%	0.76%	1.92%	-0.03%	1.95%	2.73%	6.20%	0.36%	3.98%	2.01%	4.95%
	1.64	0.19	0.40	0.70	-1.85	1.89	-0.34	-1.66	1.73	1.29	0.39	1.11	3.29
Interest	0.04	0.03	0.02	0.19	0.23	0.20	0.03	0.02	0.02	0.02	0.02	0.02	0.02
Depreciation	0.35	0.36	0.36	0.36	0.31	0.34	0.63	0.43	0.25	0.51	0.57	0.53	0.61
Profit before tax	1.58	0.86	1.03	0.95	3.64	1.32	1.16	1.33	9.77	1.06	5.29	2.97	10.91
Tax %	28.48%	25.58%	23.30%	26.32%	46.70%	26.52%	26.72%	26.32%	23.54%	23.58%	23.44%	25.25%	25.30%
	1.13	0.64	0.80	0.71	1.94	0.97	0.85	0.99	7.47	0.81	4.05	2.22	8.14
EPS in Rs	0.28	0.16	0.20	0.18	0.48	0.24	0.21	0.25	1.86	0.20	1.01	0.51	1.50
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	48	84	106	108	108	109	124	175	356	605	470	507
	47	68	102	105	109	108	118	174	351	596	454	490
Operating Profit	0	16	4	3	-2	2	5	1	5	9	16	16
OPM %	0%	19%	4%	2%	-2%	1%	4%	1%	1%	1%	3%	3%
	3	-1	1	1	8	1	-1	3	-0	-1	-1	6
Interest	6	12	3	1	1	0	0	0	0	0	0	0
Depreciation	2	2	2	2	1	1	2	1	1	1	2	2
Profit before tax	-5	1	1	1	4	1	2	2	3	6	14	20
Tax %	2%	2%	34%	22%	75%	-7%	19%	33%	24%	37%	24%	25%
	-5	1	1	1	1	1	2	1	2	4	10	15
EPS in Rs	-5.02	0.83	0.61	0.68	0.71	0.66	0.84	0.33	0.62	1.00	2.56	2.80
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	20%
5 Years:	33%
3 Years:	12%
TTM:	8%

Compounded Profit Growth
10 Years:	21%
5 Years:	41%
3 Years:	40%
TTM:	-5%

Stock Price CAGR
10 Years:	18%
5 Years:	0%
3 Years:	20%
1 Year:	29%

Return on Equity
10 Years:	3%
5 Years:	5%
3 Years:	7%
Last Year:	8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	11	11	11	12	15	22	22	43	43	43	40	60
Reserves	125	126	127	142	140	135	154	134	136	133	113	184
	83	95	106	133	57	20	19	30	13	26	0	0
	54	45	46	69	47	41	35	70	120	112	71	138
Total Liabilities	273	277	290	355	258	218	230	277	313	314	224	382
	25	22	20	17	16	13	11	10	8	7	9	12
CWIP	0	0	0	0	0	0	0	0	0	0	0	0
Investments	1	1	1	1	0	0	0	14	14	14	15	23
	247	254	268	337	243	205	219	253	290	293	200	348
Total Assets	273	277	290	355	258	218	230	277	313	314	224	382

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-2	16	-8	-59	50	9	-18	-5	39	-30	28	-55
	1	-2	1	2	1	25	9	-9	-11	15	-6	-19
	1	-14	8	63	-55	-36	18	9	-17	5	-26	75
Net Cash Flow	1	-0	0	6	-5	-1	9	-5	10	-11	-4	1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	447	269	218	507	319	289	188	138	79	62	44	49
Inventory Days	509											5
Days Payable	1,204											26
Cash Conversion Cycle	-248	269	218	507	319	289	188	138	79	62	44	28
Working Capital Days	715	397	371	477	406	375	394	296	106	77	59	100
ROCE %	1%	7%	2%	1%	2%	1%	2%	2%	4%	6%	12%	10%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	24.26%	24.26%	24.26%	24.26%	24.26%	24.26%	24.26%	24.26%	24.26%	24.26%	22.53%	24.89%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%	0.12%	0.00%	0.00%
	75.74%	75.74%	75.74%	75.74%	75.74%	75.74%	75.74%	75.75%	75.71%	75.61%	77.47%	75.11%
No. of Shareholders	6,284	6,514	6,750	7,106	7,172	10,662	12,103	13,194	13,782	14,248	13,156	13,370

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	27.48%	21.82%	17.37%	17.37%	24.26%	24.26%	24.26%	24.26%	24.89%
	72.52%	78.18%	82.63%	82.63%	75.74%	75.74%	75.74%	75.75%	75.11%
No. of Shareholders	4,632	4,014	3,826	3,659	3,522	6,769	7,106	13,194	13,370

* 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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11 Mar from infomerics