The Ramco Cements Ltd
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]
- Market Cap ₹ 20,777 Cr.
- Current Price ₹ 877
- High / Low ₹ 1,214 / 847
- Stock P/E 80.1
- Book Value ₹ 343
- Dividend Yield 0.23 %
- ROCE 6.12 %
- ROE 3.34 %
- Face Value ₹ 1.00
Pros
Cons
- Stock is trading at 2.56 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 11.3% over past five years.
- Company has a low return on equity of 3.25% over last 3 years.
- Earnings include an other income of Rs.595 Cr.
- Dividend payout has been low at 14.1% 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,655 | 3,582 | 3,967 | 4,425 | 5,162 | 5,389 | 5,291 | 6,004 | 8,157 | 9,376 | 8,518 | 9,029 | |
| 2,935 | 2,504 | 2,759 | 3,310 | 4,117 | 4,241 | 3,733 | 4,713 | 6,971 | 7,811 | 7,284 | 7,593 | |
| Operating Profit | 721 | 1,077 | 1,208 | 1,115 | 1,046 | 1,149 | 1,558 | 1,291 | 1,186 | 1,565 | 1,234 | 1,436 |
| OPM % | 20% | 30% | 30% | 25% | 20% | 21% | 29% | 22% | 15% | 17% | 14% | 16% |
| 85 | 75 | 40 | 32 | 25 | 34 | 30 | 28 | 33 | 39 | 241 | 595 | |
| Interest | 196 | 184 | 105 | 61 | 53 | 73 | 88 | 113 | 241 | 416 | 460 | 419 |
| Depreciation | 251 | 305 | 286 | 294 | 300 | 317 | 357 | 402 | 506 | 646 | 695 | 740 |
| Profit before tax | 358 | 663 | 857 | 792 | 718 | 792 | 1,144 | 803 | 472 | 542 | 319 | 871 |
| Tax % | 32% | 20% | 24% | 29% | 29% | 24% | 33% | -11% | 28% | 27% | 16% | 21% |
| 247 | 545 | 664 | 566 | 511 | 605 | 784 | 882 | 315 | 356 | 270 | 699 | |
| EPS in Rs | 10.34 | 22.90 | 27.84 | 23.95 | 21.68 | 25.65 | 33.22 | 37.30 | 13.31 | 15.23 | 11.54 | 29.57 |
| Dividend Payout % | 15% | 13% | 11% | 13% | 14% | 10% | 9% | 8% | 15% | 16% | 17% | 8% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 11% |
| 3 Years: | 3% |
| TTM: | 6% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | -7% |
| 5 Years: | -20% |
| 3 Years: | -6% |
| TTM: | 148% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | -2% |
| 3 Years: | -1% |
| 1 Year: | -12% |
| Return on Equity | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 5% |
| 3 Years: | 3% |
| Last Year: | 3% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 |
| Reserves | 2,602 | 3,109 | 3,772 | 4,089 | 4,513 | 4,978 | 5,708 | 6,595 | 6,837 | 7,214 | 7,418 | 8,070 |
| 2,734 | 2,141 | 1,437 | 1,121 | 1,637 | 3,032 | 3,110 | 3,950 | 4,507 | 4,936 | 4,675 | 3,871 | |
| 1,646 | 1,670 | 1,838 | 1,936 | 2,029 | 2,099 | 2,613 | 2,589 | 3,224 | 4,095 | 4,213 | 4,671 | |
| Total Liabilities | 7,006 | 6,944 | 7,071 | 7,169 | 8,203 | 10,132 | 11,455 | 13,157 | 14,592 | 16,270 | 16,329 | 16,636 |
| 4,882 | 5,026 | 5,211 | 5,323 | 5,400 | 6,049 | 6,978 | 7,773 | 10,195 | 12,053 | 12,344 | 12,986 | |
| CWIP | 263 | 147 | 120 | 175 | 853 | 1,840 | 2,355 | 3,034 | 1,987 | 1,378 | 1,386 | 922 |
| Investments | 358 | 327 | 210 | 240 | 259 | 276 | 307 | 297 | 273 | 319 | 90 | 60 |
| 1,503 | 1,444 | 1,529 | 1,432 | 1,692 | 1,967 | 1,814 | 2,054 | 2,138 | 2,519 | 2,509 | 2,668 | |
| Total Assets | 7,006 | 6,944 | 7,071 | 7,169 | 8,203 | 10,132 | 11,455 | 13,157 | 14,592 | 16,270 | 16,329 | 16,636 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 932 | 1,089 | 1,117 | 1,124 | 793 | 748 | 1,892 | 1,135 | 1,412 | 1,898 | 1,399 | 1,611 | |
| -477 | -261 | -280 | -490 | -1,202 | -1,921 | -1,779 | -1,816 | -1,694 | -1,911 | -542 | -338 | |
| -436 | -950 | -665 | -793 | 653 | 1,194 | -64 | 715 | 274 | -28 | -782 | -1,257 | |
| Net Cash Flow | 18 | -122 | 172 | -159 | 243 | 21 | 50 | 35 | -8 | -41 | 75 | 16 |
| Free Cash Flow | 492 | 791 | 813 | 630 | -410 | -1,171 | 126 | -676 | -352 | -16 | 458 | 1,216 |
| CFO/OP | 139% | 115% | 108% | 116% | 91% | 77% | 135% | 100% | 122% | 124% | 115% | 115% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 38 | 48 | 51 | 37 | 35 | 36 | 26 | 21 | 21 | 33 | 31 | 32 |
| Inventory Days | 280 | 341 | 314 | 273 | 242 | 270 | 253 | 342 | 240 | 209 | 215 | 196 |
| Days Payable | 123 | 133 | 140 | 130 | 111 | 143 | 154 | 199 | 174 | 211 | 199 | 228 |
| Cash Conversion Cycle | 195 | 256 | 225 | 179 | 165 | 163 | 125 | 165 | 87 | 31 | 48 | -0 |
| Working Capital Days | -37 | -81 | -67 | -53 | -55 | -58 | -76 | -76 | -61 | -72 | -98 | -90 |
| ROCE % | 10% | 16% | 18% | 16% | 13% | 12% | 15% | 9% | 6% | 8% | 5% | 6% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cement Capacity Utilization % ・Standalone data |
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| Cement Grinding Capacity Lac Tons |
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| Cement Sales Volume Lac Tons |
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| Clinker Conversion Ratio Times ・Standalone data |
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| Green Power Share % ・Standalone data |
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| Share of Premium Products % ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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Update On Ongoing Litigations
8h - Rs1.60 crore excise duty dispute on bagged cement dropped by original authority on 3 June 2026.
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Updates On Scheme Of Amalgamation
1 Jun - NCLT Chennai allowed first motion for Ramco Windfarms Limited; second motion due within 14 days.
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Compliances-Reg.24(A)-Annual Secretarial Compliance
27 May - Annual Secretarial Compliance Report for FY2026 confirms full SEBI compliance; prior Rs.5,000 BSE fine was already paid.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
25 May - Ramco Cements won 6 honours, including Grey Elephant Grand Prix, at Kyoorius Creative Awards on 23 May 2026.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
25 May - One-to-one investor meet scheduled on 28 May 2026 at Grand Hyatt, Mumbai.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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Feb 2026TranscriptAI SummaryPPT
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Nov 2025TranscriptAI SummaryPPT
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Jul 2024TranscriptAI SummaryPPT
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May 2024TranscriptAI SummaryPPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Aug 2023TranscriptAI SummaryPPT
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May 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022TranscriptPPT
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Aug 2022Transcript PPT
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May 2022Transcript PPT
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Jan 2022TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Oct 2021TranscriptAI SummaryPPT
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Jul 2021TranscriptAI SummaryPPT
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Jul 2021TranscriptAI SummaryPPT
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Feb 2019TranscriptAI SummaryPPT
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Nov 2018TranscriptAI SummaryPPT
Product Offerings
The company produces 13 types of cement for different uses and 8 construction chemicals.[1]
It also manufactures and sells dry mix products and ready mix concrete (RMC) [2]