The Ramco Cements Ltd

The Ramco Cements Ltd

₹ 840 0.63%
01 Mar 2:32 p.m.
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 12 types of cement for different uses. [1]
It also manufactures and sells dry mix products and ready mix concrete (RMC) [2]

  • Market Cap 19,860 Cr.
  • Current Price 840
  • High / Low 1,058 / 701
  • Stock P/E 46.6
  • Book Value 294
  • Dividend Yield 0.24 %
  • ROCE 6.55 %
  • ROE 5.14 %
  • Face Value 1.00

Pros

Cons

  • Stock is trading at 2.89 times its book value
  • Company has a low return on equity of 11.1% over last 3 years.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 10.3% 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.

Peer comparison

Sector: Cement Industry: Cement - South India

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,339 1,631 1,229 1,493 1,549 1,709 1,772 1,784 2,009 2,570 2,241 2,329 2,106
942 1,182 865 1,099 1,318 1,414 1,472 1,601 1,724 2,157 1,900 1,931 1,711
Operating Profit 397 449 364 394 231 295 301 184 285 413 341 399 395
OPM % 30% 28% 30% 26% 15% 17% 17% 10% 14% 16% 15% 17% 19%
6 10 6 8 7 10 7 9 9 12 8 13 7
Interest 16 15 24 29 25 33 47 55 61 77 93 117 102
Depreciation 90 96 96 98 99 108 106 122 136 141 148 157 166
Profit before tax 298 348 250 274 113 164 154 16 97 207 108 138 135
Tax % 32% 38% 32% -89% 27% 24% 27% 28% 31% 26% 27% 27% 31%
201 214 169 517 83 124 112 11 67 152 79 101 93
EPS in Rs 8.54 9.09 7.16 21.91 3.49 5.25 4.75 0.49 2.85 6.45 3.34 4.29 3.95
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
3,254 3,831 3,684 3,645 3,573 3,950 4,406 5,146 5,368 5,268 5,980 8,135 9,246
2,315 2,823 3,120 2,931 2,501 2,754 3,305 4,109 4,231 3,720 4,695 6,953 7,698
Operating Profit 939 1,008 564 714 1,072 1,195 1,101 1,038 1,138 1,548 1,285 1,183 1,548
OPM % 29% 26% 15% 20% 30% 30% 25% 20% 21% 29% 21% 15% 17%
32 40 86 87 88 44 36 28 37 35 30 37 40
Interest 159 179 189 195 182 104 60 52 73 88 113 241 389
Depreciation 254 281 306 250 305 284 292 299 315 355 401 504 611
Profit before tax 557 588 154 356 673 850 785 716 787 1,140 801 474 588
Tax % 31% 31% 11% 32% 19% 24% 29% 29% 24% 33% -11% 27%
385 404 138 242 542 649 556 506 601 761 893 344 426
EPS in Rs 16.18 16.96 5.79 10.18 22.77 27.27 23.59 21.47 25.52 32.26 37.78 14.54 18.03
Dividend Payout % 15% 18% 17% 15% 13% 11% 13% 14% 10% 9% 8% 14%
Compounded Sales Growth
10 Years: 8%
5 Years: 13%
3 Years: 15%
TTM: 27%
Compounded Profit Growth
10 Years: -2%
5 Years: -9%
3 Years: -17%
TTM: 35%
Stock Price CAGR
10 Years: 17%
5 Years: 4%
3 Years: -6%
1 Year: 15%
Return on Equity
10 Years: 12%
5 Years: 12%
3 Years: 11%
Last Year: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 24 24 24 24 24 24 24 24 24 24 24 24 24
Reserves 2,027 2,347 2,458 2,621 3,070 3,718 4,019 4,437 4,895 5,603 6,501 6,770 6,913
2,710 2,667 2,910 2,712 2,124 1,425 1,113 1,619 3,032 3,110 3,950 4,507 5,064
1,297 1,434 1,476 1,645 1,677 1,843 1,938 2,029 2,096 2,609 2,581 3,216 3,547
Total Liabilities 6,058 6,471 6,869 7,002 6,894 7,009 7,093 8,108 10,047 11,346 13,056 14,517 15,548
4,115 4,594 4,641 4,876 4,901 5,183 5,298 5,376 6,027 6,957 7,752 10,174 10,667
CWIP 528 157 354 263 147 120 175 853 1,840 2,355 3,034 1,987 2,378
Investments 266 266 283 356 372 148 159 175 189 201 201 202 216
1,149 1,455 1,590 1,508 1,475 1,557 1,461 1,705 1,991 1,833 2,069 2,153 2,286
Total Assets 6,058 6,471 6,869 7,002 6,894 7,009 7,093 8,108 10,047 11,346 13,056 14,517 15,548

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
864 701 479 956 1,085 1,105 1,113 790 740 1,885 1,129 1,405
-552 -378 -541 -482 -263 -276 -483 -1,191 -1,932 -1,771 -1,810 -1,687
-329 -289 53 -457 -943 -659 -787 643 1,213 -64 715 274
Net Cash Flow -18 34 -10 17 -121 171 -157 242 20 50 34 -7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 23 29 30 38 48 51 37 35 36 26 21 21
Inventory Days 410 410 363 279 340 313 272 241 270 252 342 240
Days Payable 78 99 93 123 133 139 130 111 143 153 198 173
Cash Conversion Cycle 355 340 300 194 256 225 179 165 163 125 165 87
Working Capital Days 11 15 22 18 -16 -8 -4 -4 23 -12 -11 -22
ROCE % 15% 16% 6% 10% 16% 18% 16% 14% 12% 15% 10% 7%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
42.54% 42.54% 42.52% 42.47% 42.33% 42.33% 42.29% 42.29% 42.29% 42.11% 42.11% 42.11%
8.26% 8.64% 8.71% 8.15% 7.63% 6.86% 6.63% 7.14% 7.55% 7.95% 7.85% 7.94%
23.23% 22.30% 31.68% 32.29% 32.63% 33.40% 33.75% 32.25% 32.46% 32.44% 33.37% 32.92%
3.39% 3.39% 3.39% 3.39% 3.39% 3.39% 3.39% 3.39% 3.39% 3.39% 3.39% 3.39%
22.57% 23.13% 13.69% 13.70% 14.03% 14.03% 13.96% 14.94% 14.31% 14.11% 13.29% 13.64%
No. of Shareholders 36,41540,08143,40943,20551,39158,78357,80959,20654,63847,89747,10546,993

* 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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