Anjani Portland Cement Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Cement: 94.9% • Power: 5.1%
AI Sector View
AI GENERATEDConstruction Materials
Construction materials remain supported by healthy building activity. Core industries cement growth accelerated to 13.1% YoY (2026-07), while finished steel consumption was 8.0% YoY (2026-06); steel output itself was softer at 2.9% YoY (2026-07). FPI positioning is still mildly negative at INR -497 crore over 3 months to 2026-08-31, but the fundamental demand backdrop remains constructive.
PROS
- Operating margins have improved to 7.4% from 3.2%
- Company generates healthy free cash flow
CONS
- Company is loss-making at the operating / net level
- Operating cash flow has been negative in recent years
- Company has a low return on equity of -17.8% over last 3 years
- Company has a low return on capital employed of -3.8%
- Interest coverage is weak at 0.0x - earnings barely cover interest
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.23x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ULTRACEMCO | 10996.00 | 37.95 | 324029.22 | 2.18 | 2603.72 | 17.24 | 24648.20 | 15.85 | 13.25 | 20.35 |
| AMBUJACEM | 391.00 | 22.20 | 97156.35 | 0.51 | 660.00 | -31.93 | 9500.00 | -7.67 | 6.24 | 16.78 |
| SHREECEM | 22588.80 | 50.00 | 81502.08 | 0.66 | 531.12 | -17.48 | 6233.13 | 18.03 | 10.61 | 20.41 |
| JKCEMENT | 4841.40 | 39.56 | 37408.65 | 0.41 | 274.62 | -15.31 | 4031.72 | 20.26 | 14.89 | 16.07 |
| DALBHARAT | 1749.20 | 35.17 | 32809.04 | 0.51 | 192.00 | -51.39 | 3890.00 | 6.99 | 8.15 | 20.69 |
| ACC | 1246.15 | 12.26 | 23401.11 | 0.60 | 147.00 | -60.84 | 5808.00 | -4.59 | 11.60 | 7.90 |
| RAMCOCEM | 866.40 | 31.75 | 20472.37 | 0.29 | 31.24 | -63.06 | 2273.05 | 9.60 | 10.75 | 13.49 |
| JSWCEMENT | 118.80 | 21.30 | 16196.78 | 0.42 | 153.43 | 111.23 | 1896.41 | 21.58 | -4.21 | 16.41 |
| NUVOCO | 330.20 | 30.56 | 11793.30 | 0.00 | 159.63 | 19.88 | 3128.71 | 8.91 | 7.11 | 18.16 |
| INDIACEM | 346.30 | 116.03 | 10731.74 | 0.00 | 26.85 | 120.20 | 1019.42 | -0.52 | 0.30 | 15.28 |
| STARCEMENT | 195.35 | 21.36 | 7895.66 | 0.51 | 73.91 | -24.71 | 942.89 | 3.39 | 8.42 | 20.63 |
| APCL | 99.27 | 0.00 | 291.60 | 0.00 | -9.80 | -184.06 | 89.76 | -35.67 | 0.13 | 1.52 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 156 | 143 | 167 | 158 | 116 | 70 | 105 | 139 | 140 | 112 | 80 | 124 | 90 | |
| 152 | 140 | 155 | 148 | 118 | 79 | 109 | 144 | 127 | 103 | 82 | 110 | 101 | |
| Operating Profit | 4 | 3 | 11 | 10 | -2 | -9 | -4 | -5 | 12 | 9 | -1 | 14 | -11 |
| OPM % | 2.31% | 2.42% | 6.88% | 6.49% | -1.73% | -12.24% | -3.97% | -3.50% | 8.92% | 7.96% | -1.79% | 10.96% | -12.25% |
| 1 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 0 | 1 | 0 | |
| Interest | 8 | 8 | 8 | 8 | 8 | 8 | 9 | 8 | 9 | 8 | 9 | 5 | 5 |
| Depreciation | 11 | 12 | 12 | 12 | 11 | 11 | 11 | 11 | 9 | 7 | 11 | 8 | 7 |
| Profit before Tax | -15 | -17 | -8 | -10 | -21 | -28 | -23 | -24 | -5 | -5 | -21 | 1 | -11 |
| Tax % | 10.33% | 9.47% | 29.12% | 54.49% | 10.46% | -0.50% | 10.95% | 45.91% | 24.67% | 7.58% | 5.17% | -114.29% | 9.59% |
| Net Profit | 0 | 0 | 0 | 0 | -19 | -28 | -21 | -13 | -3 | -5 | -20 | 2 | -10 |
| -4.58 | -5.21 | -2.02 | -1.50 | -6.47 | -9.62 | -7.00 | -4.42 | -1.16 | -1.67 | -6.66 | -0.30 | -2.41 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2011 | Mar 2012 | Mar 2013 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 205 | 329 | 326 | 801 | 662 | 624 | 430 | 455 | 405 | |
| 164 | 259 | 268 | 657 | 640 | 595 | 450 | 422 | 395 | |
| Operating Profit | 41 | 70 | 59 | 144 | 21 | 29 | -20 | 33 | 10 |
| OPM % | 19.87% | 21.27% | 17.96% | 17.98% | 3.24% | 4.62% | -4.56% | 7.35% | 2.48% |
| 4 | 3 | 1 | 3 | 3 | 1 | 2 | 2 | 2 | |
| Interest | 28 | 36 | 37 | 30 | 34 | 32 | 33 | 31 | 27 |
| Depreciation | 16 | 17 | 17 | 58 | 54 | 48 | 46 | 34 | 33 |
| Profit before Tax | 2 | 20 | 6 | 59 | -64 | -50 | -97 | -30 | -36 |
| Tax % | 53.60% | 13.18% | 32.21% | 28.55% | 8.79% | 21.95% | 16.24% | 11.68% | 9.40% |
| Net Profit | 1 | 17 | 4 | 42 | -58 | -39 | -81 | -26 | -33 |
| EPS | 0.39 | 9.33 | 2.36 | 16.38 | -19.80 | -13.30 | -27.52 | -9.80 | — |
| Dividend Payout % | 205.76% | 12.86% | 0.00% | 18.32% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 7%
- 3 Years:
- -12%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- -24%
- 3 Years:
- -19%
- 1 Year:
- -30%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- -10%
- 3 Years:
- -18%
- Last Year:
- -9%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2011 | Mar 2012 | Mar 2013 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 18 | 18 | 18 | 25 | 29 | 29 | 29 | 29 |
| Minority Interest | 0 | 0 | 0 | 3 | 3 | 3 | 2 | 76 |
| 48 | 62 | 67 | 293 | 304 | 265 | 184 | 340 | |
| 238 | 249 | 224 | 395 | 406 | 427 | 463 | 277 | |
| Trade Payables | 13 | 21 | 25 | 60 | 58 | 59 | 68 | 49 |
| 59 | 74 | 79 | 340 | 240 | 218 | 196 | 143 | |
| Total Liabilities | 376 | 425 | 413 | 1,117 | 1,041 | 1,001 | 943 | 915 |
| 255 | 246 | 249 | 923 | 881 | 846 | 811 | 791 | |
| Capital Work in Progress | 3 | 33 | 0 | 1 | 1 | 3 | 7 | 1 |
| 3 | 0 | 7 | 0 | 0 | 0 | 0 | 0 | |
| 42 | 36 | 47 | 49 | 68 | 57 | 49 | 46 | |
| 0 | 0 | 0 | 0 | 42 | 41 | 25 | 14 | |
| Cash & Bank | 3 | 6 | 4 | 14 | 1 | 3 | 1 | 1 |
| 71 | 104 | 104 | 129 | 48 | 50 | 51 | 62 | |
| Total Assets | 376 | 425 | 413 | 1,117 | 1,041 | 1,001 | 943 | 915 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2011 | Mar 2012 | Mar 2013 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 18 | 64 | 56 | 127 | 21 | 53 | 10 | -29 | |
| Cash from Investing | -33 | -33 | -19 | -512 | -14 | -12 | -15 | 245 |
| Cash from Financing | 17 | -26 | -34 | 410 | -19 | -38 | 3 | -216 |
| 0 | 3 | -2 | -4 | -12 | 2 | -2 | 0 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2011 | Mar 2012 | Mar 2013 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - Anjani Portland Cement Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 10, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
2026-08-19 - Anjani Portland Cement Limited has informed the Exchange about Newspaper publication on dispatch of 42nd AGM notice and Annual Report
2026-08-18 - Anjani Portland Cement Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 10, 2026
2026-08-15 - Anjani Portland Cement Limited has informed the Exchange about Newspaper Publication - AGM Notice
2026-08-13 - Anjani Portland Cement Limited has informed the Exchange about Newspaper Publication
2026-08-12 - Anjani Portland Cement Limited has informed the Exchange regarding Change in Auditors of the company.
2026-08-12 - Outcome of the Board meeting
2026-07-03 - Anjani Portland Cement Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
2026-06-22 - Anjani Portland Cement Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
News
Recent coverage and analyst commentary for APCL
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Anjani Portland Cement Ltd.
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