Saurashtra Cement Ltd

₹ 62.0 -10.55%

07 Aug 4:01 p.m.

mehtagroup.com BSE: 502175 NSE: SAURASHCEM

About

Incorporated in 1956, Saurashtra Cement is in the business of manufacturing and selling of Cement and Paints^[1]

Key Points

Business Overview:^[1]
SCL is a part of the Mehta Group. It is an ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certified manufacturer of Portland Pozzolana Cement (PPC), Ordinary Portland Cement (OPC 53 grade), Portland Slag Cement (PSC) types of cement and clinker under the brand name
of Hathi and Sidhee. These products are distributed in bags, jumbo bags and loose by road, rail, and sea for customer's requirements in Gujarat, Maharashtra, Rajasthan, Madhya Pradesh and the West Coast of India. The company also has a paints division which markets under the brand name Snowcem Paints

Website BSE NSE

Market Cap ₹ 686 Cr.
Current Price ₹ 62.0
High / Low ₹ 125 / 47.6
Stock P/E 42.8
Book Value ₹ 86.4
Dividend Yield 0.00 %
ROCE 2.50 %
ROE 2.28 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Stock is trading at 0.72 times its book value

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company has low interest coverage ratio.
Tax rate seems low
Company has a low return on equity of 3.34% 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

Commodities Construction Materials Cement & Cement Products Cement & Cement Products

Part of BSE Commodities

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	446.11	374.86	446.69	497.49	385.80	296.28	377.50	478.05	423.57	385.64	410.19	446.65	456.75
	414.93	364.30	403.55	452.51	362.68	336.11	369.71	425.31	388.76	395.37	409.25	420.18	436.03
Operating Profit	31.18	10.56	43.14	44.98	23.12	-39.83	7.79	52.74	34.81	-9.73	0.94	26.47	20.72
OPM %	6.99%	2.82%	9.66%	9.04%	5.99%	-13.44%	2.06%	11.03%	8.22%	-2.52%	0.23%	5.93%	4.54%
	-0.87	2.64	-11.24	24.65	5.14	4.38	3.27	13.37	5.09	4.77	-1.93	0.56	5.26
Interest	1.72	2.36	1.93	2.09	3.23	4.46	3.79	2.14	2.62	2.16	3.22	2.17	2.95
Depreciation	9.82	10.14	10.08	17.04	10.29	10.34	10.55	11.10	10.68	10.42	11.00	12.12	11.07
Profit before tax	18.77	0.70	19.89	50.50	14.74	-50.25	-3.28	52.87	26.60	-17.54	-15.21	12.74	11.96
Tax %	34.84%	-4.29%	36.80%	38.46%	33.18%	-37.45%	32.93%	37.73%	36.62%	-37.40%	-32.35%	-47.80%	23.66%
	12.22	0.73	12.57	31.08	9.86	-31.43	-4.36	32.91	16.85	-10.98	-10.29	18.83	9.13
EPS in Rs	1.10	0.07	1.13	2.80	0.89	-2.83	-0.39	2.96	1.51	-0.99	-0.92	1.69	0.82
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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	TTM
	563	530	470	574	622	608	674	1,451	1,645	1,765	1,538	1,666	1,699
	473	466	440	523	617	498	559	1,387	1,639	1,635	1,493	1,614	1,661
Operating Profit	90	64	30	50	5	110	115	64	7	130	45	52	38
OPM %	16%	12%	6%	9%	0.8%	18%	17%	4.4%	0.4%	7%	2.9%	3.1%	2.3%
	38	23	10	17	11	-8	12	16	13	15	25	8	9
Interest	13	5	4	3	5	5	4	9	9	8	14	10	10
Depreciation	35	13	15	18	18	20	20	33	39	47	42	44	45
Profit before tax	79	69	21	46	-7	77	102	37	-29	90	14	7	-8
Tax %	15%	36%	34%	-34%	-27%	27%	29%	38%	-24%	37%	50%	-119%
	68	44	14	62	-5	57	72	23	-22	57	7	14	7
EPS in Rs	13.21	6.33	2.01	9.03	-0.71	8.13	10.35	3.29	-3.12	5.10	0.63	1.30	0.60
Dividend Payout %	0%	14%	50%	11%	0%	22%	17%	0%	0%	39%	0%	0%

Compounded Sales Growth
10 Years:	12%
5 Years:	20%
3 Years:	0%
TTM:	8%

Compounded Profit Growth
10 Years:	-5%
5 Years:	-21%
3 Years:	44%
TTM:	91%

Stock Price CAGR
10 Years:	-2%
5 Years:	-14%
3 Years:	-3%
1 Year:	-46%

Return on Equity
10 Years:	5%
5 Years:	2%
3 Years:	3%
Last Year:	2%

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	51	60	69	69	69	70	70	111	111	111	111	111
Reserves	178	205	291	346	339	381	453	794	771	817	836	850
	19	19	17	17	32	31	22	104	66	85	136	107
	156	129	174	142	157	182	181	388	409	558	520	519
Total Liabilities	404	413	552	574	597	664	726	1,396	1,357	1,571	1,603	1,588
	178	201	317	334	349	351	345	813	831	872	932	909
CWIP	53	40	48	43	37	38	61	78	51	31	31	37
Investments	15	15	6	6	5	4	8	0	0	0	0	0
	159	157	181	191	206	271	312	505	475	667	641	642
Total Assets	404	413	552	574	597	664	726	1,396	1,357	1,571	1,603	1,588

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
	78	72	34	49	15	63	134	-8	21	155	30	36
	18	-24	-25	-37	-16	-38	-121	-30	32	-157	-5	19
	-100	-65	-7	-12	3	-23	-17	31	-49	3	27	-37
Net Cash Flow	-4	-16	2	0	2	1	-4	-7	5	1	52	18
Free Cash Flow	94	48	4	19	-17	39	95	-53	-17	88	-54	8
CFO/OP	109%	140%	146%	116%	370%	70%	130%	4%	378%	125%	91%	81%

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	13	10	11	12	9	21	16	15	17	18	24	22
Inventory Days	748	305	848	690	703		524		451	575	615	264
Days Payable	441	174	737	640	569		346		269	448	492	214
Cash Conversion Cycle	320	142	122	62	143	21	194	15	200	146	147	72
Working Capital Days	-23	-35	-46	-32	-42	-27	-38	-29	-23	-30	-36	-29
ROCE %	23%	24%	8%	12%	-1%	21%	21%	6%	-2%	12%	2%	2%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Number of Permanent Employees
Count

	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx
x.xx	x.xx	x.xx	x.xx		x.xx	x.xx		x.xx	x.xx
x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx
x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx
							x,xxx.xx	x,xxx.xx	x,xxx.xx
							xx.xx	xx.xx	xx.xx
								xxx	xxx
								xx	xx

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Cement & Clinker Sales Volume
Million Tonnes

Cement Production Volume
Million Tonnes

Clinker Production Volume
Million Tonnes

Paint Division Revenue
Lakhs INR

Renewable Power Share
%

Cement Capacity Utilization
%

Clinker Capacity Utilization
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	67.14%	67.09%	66.95%	66.88%	66.83%	66.78%	66.71%	66.69%	66.69%	66.69%	66.62%	66.62%
	0.00%	0.00%	0.00%	0.01%	0.03%	0.01%	0.04%	0.02%	0.04%	0.20%	0.16%	0.08%
	0.27%	0.37%	0.37%	0.37%	0.36%	0.36%	0.36%	0.12%	0.12%	0.12%	0.12%	0.12%
	32.58%	32.55%	32.68%	32.73%	32.78%	32.83%	32.87%	33.15%	33.14%	32.98%	33.10%	33.17%
No. of Shareholders	59,010	53,979	52,990	55,301	53,975	53,315	52,960	52,552	50,661	49,854	49,335	49,179

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	73.83%	73.83%	73.68%	73.48%	73.16%	72.65%	72.46%	66.95%	66.71%	66.62%	66.62%
	0.07%	0.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.04%	0.16%	0.08%
	1.29%	0.90%	0.89%	0.89%	0.89%	0.46%	0.19%	0.37%	0.36%	0.12%	0.12%
	24.81%	25.20%	25.43%	25.63%	25.95%	26.89%	27.33%	32.68%	32.87%	33.10%	33.17%
No. of Shareholders	11,470	12,535	12,188	11,751	12,328	16,533	15,378	52,990	52,960	49,335	49,179

* 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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Saurashtra Cement Ltd

Saurashtra Cement Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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