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The Ramco Cements Ltd.

•
ramcocements.inBSE: 500260NSE: RAMCOCEM
Market Cap₹ 20,472 Cr.
Current Price
High / Low₹ 1,214 / 838
Stock P/E31.7
Book Value₹ 344
Price to Book2.71
Dividend Yield0.29 %
ROCE10.7 %
ROE8.9 %
Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2016 • Cement: 98.2% • Windmill Power: 1.8%

AI Sector View

AI GENERATED

Construction Materials

Buy

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.

Confidence
69%
View full sector analysis →

PROS

  • Company has consistently been profitable over the last 5 years
  • Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.63x)
  • Stock looks reasonably valued - P/E of 31.7 is below its historical median
  • Company has a consistent dividend-paying track record
  • Company generates healthy free cash flow
  • Company maintains a comfortable, low leverage position

CONS

  • Company has a low return on equity of 6.0% over last 3 years
  • Company has a low return on capital employed of 8.4%
  • Company has delivered a poor profit growth of -1.9% over past five years
  • Recurring exceptional / one-off items are inflating headline profit
  • Though reporting repeated profits, the company pays out little dividend (8.5%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Construction MaterialsConstruction MaterialsCement & Construction Materials
Part ofNIFTY TOTAL MKTNIFTY 500NIFTY SMLCAP 250
S.No.Name
1.ULTRACEMCO10996.0037.95324029.222.182603.7217.2424648.2015.8513.2520.35
2.AMBUJACEM391.0022.2097156.350.51660.00-31.939500.00-7.676.2416.78
3.SHREECEM22588.8050.0081502.080.66531.12-17.486233.1318.0310.6120.41
4.JKCEMENT4841.4039.5637408.650.41274.62-15.314031.7220.2614.8916.07
5.DALBHARAT1749.2035.1732809.040.51192.00-51.393890.006.998.1520.69
6.ACC1246.1512.2623401.110.60147.00-60.845808.00-4.5911.607.90
7.RAMCOCEM866.4031.7520472.370.2931.24-63.062273.059.6010.7513.49
8.JSWCEMENT118.8021.3016196.780.42153.43111.231896.4121.58-4.2116.41
9.NUVOCO330.2030.5611793.300.00159.6319.883128.718.917.1118.16
10.INDIACEM346.30116.0310731.740.0026.85120.201019.42-0.520.3015.28
11.STARCEMENT195.3521.367895.660.5173.91-24.71942.893.398.4220.63
12.BIRLACORPN825.3011.486355.251.51115.73-3.212646.457.8310.8812.93
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
2,2472,3412,1112,6782,0942,0441,9832,3972,0742,2392,1062,6102,273
1,9031,9351,7142,2591,7731,7301,7042,0781,6761,8511,8262,2402,252
Operating Profit34340639741932031427931939838828037121
OPM %15.29%17.33%18.79%15.64%15.29%15.36%14.07%13.32%19.17%17.33%13.29%14.20%0.93%
712714810199236749686-6
Interest931171021041131201131131051111089596
Depreciation150163180154168170175183184183185188190
Profit before Tax10813812117548341914611510048317341
Tax %26.95%26.83%30.80%25.60%26.92%26.59%4.12%46.22%26.52%24.07%20.28%15.38%23.07%
Net Profit0000372618226857838615131
3.263.153.705.651.631.127.621.163.603.2716.316.381.32

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
3,9674,4255,1625,3895,2916,0048,1579,3768,5189,0299,228
2,7593,3124,1174,2413,7334,7136,9717,8117,2847,6018,168
Operating Profit1,2081,1141,0461,1491,5581,2911,1861,5651,2341,4271,059
OPM %30.45%25.16%20.25%21.31%29.44%21.50%14.54%16.69%14.49%15.81%11.48%
4033253430283339241605583
Interest10561537388113241416460421410
Depreciation286294300317357402506646695740746
Profit before Tax8577927187921,144803472542319871797
Tax %23.65%29.20%29.33%23.71%33.22%-11.13%27.54%27.35%16.03%20.56%19.83%
Net Profit654561507604764893342394268692639
EPS29.0025.0022.0026.0034.0039.0013.7615.2311.5429.57—
Dividend Payout %10.78%12.53%13.84%9.75%9.03%8.04%15.03%16.41%17.33%8.46%—

COMPOUNDED SALES GROWTH

10 Years:
10%
5 Years:
11%
3 Years:
3%

COMPOUNDED PROFIT GROWTH

10 Years:
3%
5 Years:
-2%
3 Years:
30%

STOCK PRICE CAGR

10 Years:
4%
5 Years:
-4%
3 Years:
-1%
1 Year:
-16%

RETURN ON EQUITY

10 Years:
11%
5 Years:
8%
3 Years:
6%
Last Year:
9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2026

Aug 13

₹ 2.50

Rs.2.5000 per share(250%)Dividend

2025

Aug 6

₹ 2

Rs.2.0000 per share(200%)Final Dividend

2024

Aug 9

₹ 2.50

Rs.2.5000 per share(250%)Dividend

2023

Aug 3

₹ 2

Rs.2.0000 per share(200%)Dividend

2022

Aug 2

₹ 3

Rs.3.0000 per share(300%)Dividend

2021

Mar 22

₹ 3

Interim Dividend

2018

Jul 26

₹ 3

Rs.3.0000 per share(300%)Dividend

2017

Jul 27

₹ 3

Rs.3.0000 per share(300%)Dividend

2016

Mar 18

₹ 3

Interim Dividend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital24242424242424242424
Minority Interest2456677400
3,7724,0894,5134,9565,6886,5956,8377,2147,4188,070
1,2031,0671,5422,6872,5733,4014,4924,4763,6653,329
Trade Payables2562682583433654856399939391,201
1,8141,9232,0502,1173,2512,8012,6173,6044,3034,048
Total Liabilities7,0717,3758,39210,13211,90713,31214,61516,31416,35016,671
5,0655,1795,2385,9026,8337,64210,06611,92612,14012,730
Capital Work in Progress971508311,8142,3252,9921,8251,2271,217874
2102402592763072972733199060
5775615616475998348849831,0161,030
0000000856730793
Cash & Bank1201209594144178170137209227
1,0011,1251,4091,3991,6981,3681,398866947958
Total Assets7,0717,3758,39210,13211,90713,31214,61516,31416,35016,671

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
1,3081,2979528872,1011,2941,4441,8981,3991,611
Cash from Investing-280-490-1,202-1,921-1,779-1,816-1,694-1,911-542-338
Cash from Financing-665-7936531,194-64715274-28-782-1,257
172-159243215035-8-417516

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
42.2942.2942.7542.5642.5642.5642.5642.5642.56
7.386.616.887.298.438.157.988.047.52
31.1430.8730.8930.1427.8528.4828.1528.9229.50
3.393.393.393.393.393.393.393.393.39
15.8116.8516.0916.6317.7717.4317.9417.1117.04

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10
Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-10 - The Ramco Cements Limited has informed the Exchange about Cancellation of Investor Meet

2026-09-10
Press Release

2026-09-10 - The Ramco Cements Limited has informed the Exchange regarding a press release dated September 09, 2026, titled "Press Release on our Company's Pandalgudi mine restoration earns international biodiversity recognition".

2026-09-03
Shareholders meeting

2026-09-03 - The Ramco Cements Limited has informed the Exchange with copy of minutes of Annual General Meeting held on August 20, 2026

2026-08-31
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-31 - The Ramco Cements Limited has informed the Exchange about Schedule of meet

2026-08-28
Copy of Newspaper Publication

2026-08-28 - The Ramco Cements Limited has informed the Exchange about Copy of notice to shareholders published in newspapers is attached

2026-08-24
General Updates

2026-08-24 - The Ramco Cements Limited has informed the Exchange about General Updates - Intimation regarding cessation of Mineral Bearing Land Tax

2026-08-21
Shareholders meeting

2026-08-21 - The Ramco Cements Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 20, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-20
Shareholders meeting

2026-08-20 - The Ramco Cements Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 20, 2026

2026-08-12
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-12 - The Ramco Cements Limited has informed the Exchange about Update on Schedule of meet

News

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