Star Cement Ltd

₹ 112 1.87%
03 Feb - close price
About

Star Cements Ltd is engaged in manufacturing and selling of Cement Clinker & Cement. It sells its products across north-eastern and eastern states in India.[1] It is the largest cement manufacturer in North-east India.[2]

Key Points

Product Offerings
The company's product portfolio includes ordinary portland cement, Portland Pozzolana cement, and Anti-rust cement. [1]

  • Market Cap 4,513 Cr.
  • Current Price 112
  • High / Low 124 / 81.0
  • Stock P/E 18.8
  • Book Value 56.1
  • Dividend Yield 0.00 %
  • ROCE 12.0 %
  • ROE 11.6 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company's working capital requirements have reduced from 72.4 days to 31.0 days

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding has decreased over last quarter: -0.39%
  • The company has delivered a poor sales growth of 7.78% over past five years.
  • Company has a low return on equity of 13.2% over last 3 years.
  • Dividend payout has been low at 4.81% 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 - North India

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
451 549 292 402 423 603 511 407 555 749 666 594 620
357 425 227 323 339 498 418 335 487 636 542 525 511
Operating Profit 94 124 65 79 84 104 93 72 68 113 124 70 108
OPM % 21% 23% 22% 20% 20% 17% 18% 18% 12% 15% 19% 12% 18%
7 8 6 7 -57 8 8 9 7 9 14 14 12
Interest 4 2 2 2 2 2 2 7 2 2 3 3 3
Depreciation 23 25 20 21 21 28 26 29 32 35 30 32 34
Profit before tax 73 105 49 63 4 83 74 44 41 85 105 49 83
Tax % 3% 17% 10% 2% 98% 2% 8% -5% -8% -4% 36% 37% 36%
Net Profit 71 87 44 61 0 81 68 47 44 88 68 31 53
EPS in Rs 1.73 2.08 1.05 1.46 -0.04 2.07 1.65 1.13 1.08 2.19 1.67 0.77 1.31
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
481 1,028 1,430 1,715 1,528 1,615 1,831 1,843 1,720 2,222 2,629
362 795 994 1,316 1,119 1,093 1,382 1,449 1,387 1,877 2,213
Operating Profit 119 233 436 399 408 521 449 394 333 345 416
OPM % 25% 23% 31% 23% 27% 32% 25% 21% 19% 16% 16%
2 3 1 1 2 4 5 29 -36 33 49
Interest 27 83 87 83 78 52 14 9 7 13 11
Depreciation 45 157 224 171 118 121 106 93 90 122 131
Profit before tax 49 -5 126 145 215 353 335 322 199 244 322
Tax % 12% 28% 4% 4% 6% 5% 9% 11% 6% -1%
Net Profit 43 -3 121 139 195 336 305 287 187 247 240
EPS in Rs 10.24 -1.00 28.30 3.20 4.64 7.89 7.13 6.92 4.54 6.11 5.94
Dividend Payout % 0% -250% 28% 0% 0% 13% 0% 14% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 8%
3 Years: 7%
TTM: 27%
Compounded Profit Growth
10 Years: %
5 Years: 5%
3 Years: -6%
TTM: 0%
Stock Price CAGR
10 Years: %
5 Years: -2%
3 Years: 7%
1 Year: 19%
Return on Equity
10 Years: %
5 Years: 16%
3 Years: 13%
Last Year: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
42 42 42 42 42 42 42 41 41 40 40
Reserves 817 801 879 1,013 1,104 1,434 1,682 1,816 2,033 2,128 2,226
830 964 880 940 801 432 74 13 18 16 58
288 309 388 471 534 597 499 488 470 561 584
Total Liabilities 1,978 2,116 2,190 2,466 2,480 2,506 2,297 2,358 2,562 2,745 2,909
1,130 1,143 1,028 919 863 785 722 696 823 923 875
CWIP 129 99 41 49 55 36 74 238 127 109 222
Investments 2 2 2 2 1 1 2 2 2 164 190
717 873 1,119 1,496 1,561 1,684 1,498 1,423 1,611 1,549 1,623
Total Assets 1,978 2,116 2,190 2,466 2,480 2,506 2,297 2,358 2,562 2,745 2,909

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-74 233 262 97 300 421 616 483 350 417
-316 -114 -41 -79 -89 -25 -193 -136 -333 -289
392 -132 -210 -14 -218 -393 -348 -201 -3 -176
Net Cash Flow 2 -14 11 4 -7 2 76 146 14 -47

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 63 44 79 96 33 33 29 24 28 21
Inventory Days 590 378 174 221 173 356 232 233 212 124
Days Payable 158 176 122 148 101 228 105 87 89 73
Cash Conversion Cycle 495 247 130 168 105 161 156 171 151 72
Working Capital Days 196 57 68 112 208 192 119 96 91 31
ROCE % 5% 12% 12% 15% 21% 19% 18% 14% 12%

Shareholding Pattern

Numbers in percentages

37 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
66.77 66.78 67.17 67.11 67.11 66.21 66.89 67.06 67.33 67.37 67.42 67.03
0.24 0.24 0.18 0.09 0.07 0.11 0.14 0.18 0.20 0.28 0.40 0.53
8.28 8.36 8.29 8.05 7.93 7.89 6.50 6.33 6.15 6.14 6.15 6.15
24.70 24.63 24.36 24.75 24.89 25.79 26.47 26.43 26.32 26.21 26.03 26.29

* 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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