Ramco Industries Ltd
Part of the Chennai-based Ramco Group; Ramco Industries Ltd. is engaged in the manufacture of Fiber Cement (FC) sheets and Calcium Silicate Boards (CSBs). Company is also engaged in the spinning of cotton yarn; sale of surplus electricity generated from its windmills and computer software.
- Market Cap ₹ 3,079 Cr.
- Current Price ₹ 355
- High / Low ₹ 398 / 215
- Stock P/E 14.9
- Book Value ₹ 488
- Dividend Yield 0.28 %
- ROCE 3.61 %
- ROE 4.37 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Stock is trading at 0.74 times its book value
- Market value of investments Rs.5,215 Cr. is more than the Market Cap Rs.3,107 Cr.
Cons
- The company has delivered a poor sales growth of 11.2% over past five years.
- Company has a low return on equity of 3.42% over last 3 years.
- Dividend payout has been low at 5.99% 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 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 785 | 863 | 865 | 881 | 932 | 1,036 | 974 | 1,209 | 1,460 | 1,458 | 1,501 | 1,659 | 1,642 | |
| 722 | 783 | 785 | 764 | 814 | 909 | 871 | 1,014 | 1,234 | 1,305 | 1,345 | 1,479 | 1,452 | |
| Operating Profit | 63 | 80 | 80 | 117 | 118 | 128 | 103 | 195 | 226 | 152 | 157 | 179 | 190 |
| OPM % | 8% | 9% | 9% | 13% | 13% | 12% | 11% | 16% | 15% | 10% | 10% | 11% | 12% |
| 11 | 21 | 43 | 22 | 44 | 24 | 46 | 22 | 8 | 24 | 14 | 15 | 16 | |
| Interest | 36 | 38 | 40 | 34 | 22 | 15 | 15 | 10 | 9 | 21 | 25 | 17 | 18 |
| Depreciation | 49 | 25 | 25 | 26 | 28 | 29 | 31 | 33 | 33 | 34 | 37 | 36 | 36 |
| Profit before tax | -11 | 39 | 57 | 79 | 112 | 107 | 103 | 175 | 193 | 122 | 109 | 142 | 152 |
| Tax % | -71% | 7% | -0% | 30% | 30% | 30% | 33% | 34% | 34% | 12% | 33% | 34% | |
| -3 | 90 | 192 | 205 | 176 | 172 | 170 | 279 | 303 | 124 | 106 | 181 | 207 | |
| EPS in Rs | -0.36 | 10.39 | 22.21 | 23.63 | 20.31 | 19.89 | 19.56 | 32.16 | 34.95 | 14.28 | 12.18 | 20.84 | 23.85 |
| Dividend Payout % | -70% | 3% | 2% | 2% | 2% | 3% | 3% | 3% | 3% | 7% | 6% | 5% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 11% |
| 3 Years: | 4% |
| TTM: | 5% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 8% |
| 5 Years: | 2% |
| 3 Years: | -16% |
| TTM: | 96% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 13% |
| 3 Years: | 25% |
| 1 Year: | 43% |
| Return on Equity | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 5% |
| 3 Years: | 3% |
| Last Year: | 4% |
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 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves | 513 | 602 | 2,514 | 2,707 | 2,877 | 3,044 | 3,201 | 3,475 | 3,750 | 3,875 | 4,052 | 4,224 |
| 408 | 413 | 363 | 336 | 213 | 187 | 238 | 152 | 224 | 308 | 242 | 256 | |
| 117 | 140 | 173 | 211 | 217 | 224 | 266 | 332 | 312 | 273 | 254 | 294 | |
| Total Liabilities | 1,047 | 1,164 | 3,059 | 3,263 | 3,315 | 3,464 | 3,713 | 3,968 | 4,294 | 4,465 | 4,556 | 4,783 |
| 411 | 407 | 407 | 424 | 424 | 443 | 467 | 472 | 523 | 563 | 565 | 559 | |
| CWIP | 12 | 10 | 22 | 11 | 10 | 5 | 21 | 36 | 19 | 12 | 6 | 5 |
| Investments | 198 | 261 | 2,129 | 2,270 | 2,366 | 2,477 | 2,602 | 2,817 | 3,053 | 3,058 | 3,172 | 3,340 |
| 427 | 487 | 501 | 558 | 515 | 539 | 624 | 643 | 699 | 832 | 813 | 879 | |
| Total Assets | 1,047 | 1,164 | 3,059 | 3,263 | 3,315 | 3,464 | 3,713 | 3,968 | 4,294 | 4,465 | 4,556 | 4,783 |
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 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 123 | 89 | 79 | 47 | 126 | 88 | 36 | 190 | 88 | -43 | 135 | 132 | |
| -50 | -15 | 6 | -9 | 13 | -33 | -63 | -73 | -138 | -27 | -21 | -107 | |
| -55 | -77 | -57 | -48 | -150 | -36 | 27 | -104 | 63 | 54 | -100 | -11 | |
| Net Cash Flow | 18 | -3 | 28 | -9 | -12 | 20 | 0 | 14 | 13 | -17 | 14 | 14 |
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 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 29 | 30 | 30 | 30 | 35 | 33 | 31 | 28 | 23 | 15 | 17 | 22 |
| Inventory Days | 171 | 195 | 202 | 256 | 207 | 194 | 264 | 217 | 203 | 273 | 262 | 232 |
| Days Payable | 22 | 28 | 50 | 46 | 36 | 33 | 50 | 48 | 26 | 11 | 13 | 17 |
| Cash Conversion Cycle | 178 | 198 | 183 | 239 | 206 | 194 | 246 | 197 | 200 | 277 | 267 | 237 |
| Working Capital Days | 29 | 14 | 13 | 11 | 49 | 34 | 36 | 43 | 33 | 62 | 70 | 78 |
| ROCE % | 3% | 7% | 4% | 3% | 4% | 4% | 3% | 5% | 5% | 3% | 3% | 4% |
Documents
Announcements
- Closure of Trading Window 25 Oct
-
Board Meeting Intimation for Considering Unaudited Standalone And Consolidated Financial Results For The Quarter And Six Months Ended 30.9.2025
25 Oct - Board to consider unaudited Q2/H1 results for Sep 30, 2025 on Nov 5; trading window closed until Nov 7.
-
Relodgement Of Transfer Request Of Physical Shares
14 Oct - No physical share transfer requests received/processed/rejected for September 2025; report filed.
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
13 Oct - Certificate under Reg. 74(5) of SEBI (DP) Regulations, 2018, for the Quarter ended 30.9.2025 is enclosed.
- Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 27 Sep
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 2012
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Business Segments