The Ramco Cements Ltd

About [ edit ]

The Ramco Cements is engaged in manufacture of Cement, Ready Mix Concrete and Dry Mortar products. The Company caters mainly to the domestic markets.The Company is also engaged in sale of surplus electricity generated from its windmills after meeting its captive requirements.(Source : 202003 Annual Report Page No:131)

  • Market Cap 23,449 Cr.
  • Current Price 994
  • High / Low 1,014 / 455
  • Stock P/E 33.0
  • Book Value 228
  • Dividend Yield 0.25 %
  • ROCE 12.2 %
  • ROE 12.7 %
  • Face Value 1.00

Pros

Cons

  • Stock is trading at 4.36 times its book value
  • The company has delivered a poor sales growth of 8.07% over past five years.
  • Company has a low return on equity of 12.86% for last 3 years.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 12.04% of profits over last 3 years

Peer comparison

Sector: Cement Industry: Cement - South India

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
1,015 1,224 1,192 1,211 1,535 1,389 1,324 1,282 1,394 1,048 1,266 1,344
670 971 938 998 1,212 1,027 1,024 1,077 1,114 785 819 946
Operating Profit 345 253 255 214 324 362 300 205 280 263 447 398
OPM % 34% 21% 21% 18% 21% 26% 23% 16% 20% 25% 35% 30%
Other Income 3 4 4 6 12 8 8 8 10 9 8 6
Interest 45 12 13 14 13 14 15 22 22 30 27 16
Depreciation 66 74 73 76 77 76 77 80 83 85 86 90
Profit before tax 238 172 173 130 245 280 216 111 185 158 343 298
Tax % 14% 27% 32% 23% 33% 31% 21% 14% 21% 30% 30% 32%
Net Profit 206 128 120 98 165 194 172 95 143 117 244 207
EPS in Rs 8.67 5.43 5.11 4.14 7.00 8.24 7.31 4.02 6.07 4.98 10.33 8.76
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
3,684 3,655 3,582 3,967 4,425 5,162 5,389 5,051
3,120 2,935 2,504 2,759 3,310 4,117 4,241 3,663
Operating Profit 564 721 1,077 1,208 1,115 1,046 1,149 1,389
OPM % 15% 20% 30% 30% 25% 20% 21% 27%
Other Income 63 85 75 40 32 25 34 32
Interest 189 196 184 105 61 53 73 94
Depreciation 306 251 305 286 294 300 317 344
Profit before tax 131 358 663 857 792 718 792 983
Tax % 13% 32% 20% 24% 29% 29% 24%
Net Profit 115 246 545 663 564 511 604 711
EPS in Rs 4.81 10.34 22.90 27.84 23.95 21.68 25.65 30.14
Dividend Payout % 21% 15% 13% 11% 13% 14% 10%
Compounded Sales Growth
10 Years:%
5 Years:8%
3 Years:11%
TTM:-9%
Compounded Profit Growth
10 Years:%
5 Years:20%
3 Years:-3%
TTM:14%
Stock Price CAGR
10 Years:27%
5 Years:22%
3 Years:10%
1 Year:28%
Return on Equity
10 Years:%
5 Years:15%
3 Years:13%
Last Year:13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
24 24 24 24 24 24 24 24
Reserves 2,435 2,602 3,109 3,772 4,089 4,513 4,978 5,352
Borrowings 2,910 2,734 2,141 1,437 1,121 1,637 3,024 2,353
1,476 1,646 1,670 1,838 1,936 2,029 2,107 2,839
Total Liabilities 6,846 7,006 6,944 7,071 7,169 8,203 10,132 10,568
4,650 4,882 5,026 5,211 5,323 5,400 6,049 6,243
CWIP 354 263 147 120 175 853 1,840 2,133
Investments 283 358 327 210 240 259 276 291
1,559 1,503 1,444 1,529 1,432 1,692 1,967 1,900
Total Assets 6,846 7,006 6,944 7,071 7,169 8,203 10,132 10,568

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
509 932 1,089 1,117 1,124 793 748
-571 -477 -261 -280 -490 -1,202 -1,921
53 -436 -950 -665 -793 653 1,194
Net Cash Flow -9 18 -122 172 -159 243 21

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 10% 16% 18% 16% 13% 12%
Debtor Days 30 38 48 51 37 35 36
Inventory Turnover 2.29 2.08 2.11 2.60 3.39 3.19

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
42.75 42.75 42.75 42.75 42.75 42.75 42.66 42.66 42.66 42.66 42.62 42.61
13.12 12.73 11.87 11.37 11.54 11.99 11.74 11.72 8.91 8.91 7.55 8.03
20.35 20.89 22.93 23.57 23.05 22.91 21.58 21.90 24.45 24.45 23.64 22.87
3.40 3.40 3.40 3.40 3.40 3.40 3.40 3.40 3.40 3.40 3.39 3.39
20.39 20.24 19.05 18.92 19.27 18.95 20.62 20.32 20.58 20.58 22.79 23.10

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