The Ramco Cements Ltd

The Ramco Cements Ltd

₹ 813 0.48%
24 Apr 2:12 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 19,211 Cr.
  • Current Price 813
  • High / Low 1,058 / 720
  • Stock P/E 50.8
  • Book Value 298
  • Dividend Yield 0.25 %
  • ROCE 6.48 %
  • ROE 4.65 %
  • Face Value 1.00

Pros

Cons

  • Stock is trading at 2.74 times its book value
  • Company has a low return on equity of 10.8% over last 3 years.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 10.7% 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

Consolidated Figures in Rs. Crores / View Standalone

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
1,344 1,634 1,235 1,503 1,552 1,713 1,779 1,794 2,012 2,573 2,247 2,341 2,111
946 1,185 868 1,103 1,324 1,418 1,476 1,606 1,729 2,161 1,903 1,935 1,714
Operating Profit 398 449 366 400 229 295 303 188 283 412 343 406 397
OPM % 30% 27% 30% 27% 15% 17% 17% 10% 14% 16% 15% 17% 19%
6 8 5 7 6 9 6 7 9 11 7 12 7
Interest 16 15 24 29 25 33 47 55 61 77 93 117 102
Depreciation 90 96 96 99 100 108 107 122 136 141 150 163 180
Profit before tax 298 345 252 279 110 163 155 18 95 205 108 138 121
Tax % 32% 39% 32% -86% 27% 24% 27% 30% 31% 26% 27% 27% 31%
207 216 172 517 75 118 109 4 51 151 74 72 82
EPS in Rs 8.76 9.16 7.27 21.86 3.20 5.02 4.61 0.13 2.18 6.38 3.15 3.05 3.58
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
3,684 3,655 3,582 3,967 4,425 5,162 5,389 5,291 6,004 8,157 9,271
3,120 2,935 2,504 2,759 3,310 4,117 4,241 3,733 4,713 6,971 7,713
Operating Profit 564 721 1,077 1,208 1,115 1,046 1,149 1,558 1,291 1,186 1,557
OPM % 15% 20% 30% 30% 25% 20% 21% 29% 22% 15% 17%
63 85 75 40 32 25 34 30 28 33 36
Interest 189 196 184 105 61 53 73 88 113 241 389
Depreciation 306 251 305 286 294 300 317 357 402 506 633
Profit before tax 131 358 663 857 792 718 792 1,144 803 472 572
Tax % 13% 32% 20% 24% 29% 29% 24% 33% -11% 28%
114 247 545 664 566 511 605 784 882 315 379
EPS in Rs 4.81 10.34 22.90 27.84 23.95 21.68 25.65 33.22 37.30 13.31 16.16
Dividend Payout % 21% 15% 13% 11% 13% 14% 10% 9% 8% 15%
Compounded Sales Growth
10 Years: %
5 Years: 13%
3 Years: 15%
TTM: 27%
Compounded Profit Growth
10 Years: %
5 Years: -11%
3 Years: -20%
TTM: 34%
Stock Price CAGR
10 Years: 14%
5 Years: 1%
3 Years: -5%
1 Year: 12%
Return on Equity
10 Years: %
5 Years: 11%
3 Years: 11%
Last Year: 5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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
Reserves 2,435 2,602 3,109 3,772 4,089 4,513 4,978 5,708 6,595 6,837 7,009
2,910 2,734 2,141 1,437 1,121 1,637 3,032 3,110 3,950 4,507 5,064
1,476 1,646 1,670 1,838 1,936 2,029 2,099 2,613 2,589 3,224 3,559
Total Liabilities 6,846 7,006 6,944 7,071 7,169 8,203 10,132 11,455 13,157 14,592 15,656
4,650 4,882 5,026 5,211 5,323 5,400 6,049 6,978 7,773 10,195 10,681
CWIP 354 263 147 120 175 853 1,840 2,355 3,034 1,987 2,378
Investments 283 358 327 210 240 259 276 307 297 273 317
1,559 1,503 1,444 1,529 1,432 1,692 1,967 1,814 2,054 2,138 2,280
Total Assets 6,846 7,006 6,944 7,071 7,169 8,203 10,132 11,455 13,157 14,592 15,656

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
509 932 1,089 1,117 1,124 793 748 1,892 1,135 1,412
-571 -477 -261 -280 -490 -1,202 -1,921 -1,779 -1,816 -1,694
53 -436 -950 -665 -793 653 1,194 -64 715 274
Net Cash Flow -9 18 -122 172 -159 243 21 50 35 -8

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 30 38 48 51 37 35 36 26 21 21
Inventory Days 363 280 341 314 273 242 270 253 342 240
Days Payable 93 123 133 140 130 111 143 154 199 174
Cash Conversion Cycle 300 195 256 225 179 165 163 125 165 87
Working Capital Days 19 18 -16 -8 -5 -4 23 -11 -11 -23
ROCE % 10% 16% 18% 16% 13% 12% 15% 9% 6%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
42.54% 42.52% 42.47% 42.33% 42.33% 42.29% 42.29% 42.29% 42.11% 42.11% 42.11% 42.29%
8.64% 8.71% 8.15% 7.63% 6.86% 6.63% 7.14% 7.55% 7.95% 7.85% 7.94% 7.43%
22.30% 31.68% 32.29% 32.63% 33.40% 33.75% 32.25% 32.46% 32.44% 33.37% 32.92% 32.24%
3.39% 3.39% 3.39% 3.39% 3.39% 3.39% 3.39% 3.39% 3.39% 3.39% 3.39% 3.39%
23.13% 13.69% 13.70% 14.03% 14.03% 13.96% 14.94% 14.31% 14.11% 13.29% 13.64% 14.66%
No. of Shareholders 40,08143,40943,20551,39158,78357,80959,20654,63847,89747,10546,99356,327

* 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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