Ramco Industries Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Building Products: 86.3% • Textiles: 10.5% • Others: 2.1%
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
- Company is almost debt free
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 31.9% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.55x)
- Company comfortably covers its interest (12.4x coverage)
- Company generates healthy free cash flow
CONS
- Company has a low return on capital employed of 3.8%
- Company has a low return on equity of 2.4% over last 3 years
- Company has delivered a poor profit growth of 3.2% over past five years
- Though reporting repeated profits, the company pays out little dividend (3.5%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ULTRACEMCO | 11188.00 | 38.61 | 329687.06 | 2.15 | 2603.72 | 17.24 | 24648.20 | 15.85 | 13.25 | 20.35 |
| AMBUJACEM | 399.75 | 22.70 | 99330.57 | 0.50 | 660.00 | -31.93 | 9500.00 | -7.67 | 6.24 | 16.78 |
| SHREECEM | 23400.00 | 51.79 | 84428.95 | 0.64 | 531.12 | -17.48 | 6233.13 | 18.03 | 10.61 | 20.41 |
| JKCEMENT | 5040.50 | 41.19 | 38947.06 | 0.40 | 274.62 | -15.31 | 4031.72 | 20.26 | 14.89 | 16.07 |
| DALBHARAT | 1713.90 | 34.46 | 32146.93 | 0.53 | 192.00 | -51.39 | 3890.00 | 6.99 | 8.15 | 20.69 |
| ACC | 1268.20 | 12.48 | 23815.18 | 0.59 | 147.00 | -60.84 | 5808.00 | -4.59 | 11.60 | 7.90 |
| RAMCOCEM | 869.80 | 31.87 | 20552.71 | 0.29 | 31.24 | -63.06 | 2273.05 | 9.60 | 10.75 | 13.49 |
| JSWCEMENT | 121.85 | 21.84 | 16612.60 | 0.41 | 153.43 | 111.23 | 1896.41 | 21.58 | -4.21 | 16.41 |
| NUVOCO | 345.10 | 31.94 | 12325.46 | 0.00 | 159.63 | 19.88 | 3128.71 | 8.91 | 7.11 | 18.16 |
| INDIACEM | 355.65 | 119.16 | 11021.49 | 0.00 | 26.85 | 120.20 | 1019.42 | -0.52 | 0.30 | 15.28 |
| STARCEMENT | 194.40 | 21.25 | 7857.27 | 0.51 | 73.91 | -24.71 | 942.89 | 3.39 | 8.42 | 20.63 |
| RAMCOIND | 323.55 | 8.59 | 2809.76 | 0.39 | 86.59 | 31.94 | 613.81 | 16.51 | 4.75 | 18.33 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 484 | 313 | 334 | 363 | 543 | 353 | 344 | 423 | 527 | 365 | 389 | 502 | 614 | |
| 433 | 287 | 300 | 325 | 486 | 312 | 307 | 379 | 459 | 313 | 342 | 437 | 521 | |
| Operating Profit | 50 | 27 | 34 | 38 | 57 | 41 | 37 | 44 | 68 | 52 | 47 | 65 | 93 |
| OPM % | 10.41% | 8.49% | 10.07% | 10.47% | 10.46% | 11.75% | 10.79% | 10.37% | 12.90% | 14.34% | 12.06% | 12.92% | 15.13% |
| 4 | 3 | 3 | 4 | 3 | 3 | 4 | 6 | 3 | 4 | 3 | 13 | -5 | |
| Interest | 6 | 6 | 7 | 6 | 4 | 3 | 4 | 5 | 5 | 4 | 5 | 4 | 3 |
| Depreciation | 9 | 9 | 9 | 10 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 10 |
| Profit before Tax | 43 | 18 | 20 | 28 | 47 | 33 | 27 | 35 | 57 | 43 | 36 | 64 | 113 |
| Tax % | 23.47% | 56.23% | 36.32% | 29.66% | 22.66% | 59.60% | 42.53% | 18.62% | 20.08% | 52.52% | 40.36% | 25.16% | 23.45% |
| Net Profit | 0 | 0 | 0 | 0 | 39 | 17 | 889 | 36 | 66 | 409 | 1,121 | 876 | 87 |
| 4.73 | -0.50 | 3.16 | 5.25 | 4.72 | 2.02 | 10.26 | 4.12 | 7.58 | 4.73 | 12.94 | 10.12 | 10.00 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 881 | 932 | 1,036 | 974 | 1,209 | 1,460 | 1,458 | 1,501 | 1,674 | 1,792 | 1,870 | |
| 764 | 814 | 909 | 871 | 1,017 | 1,235 | 1,306 | 1,346 | 1,495 | 1,560 | 1,613 | |
| Operating Profit | 117 | 118 | 128 | 103 | 192 | 225 | 152 | 155 | 179 | 232 | 257 |
| OPM % | 13.30% | 12.63% | 12.32% | 10.58% | 15.91% | 15.41% | 10.42% | 10.32% | 10.69% | 12.94% | 13.75% |
| 22 | 44 | 24 | 46 | 25 | 9 | 25 | 16 | 16 | 23 | 15 | |
| Interest | 34 | 22 | 15 | 15 | 10 | 9 | 21 | 25 | 17 | 18 | 16 |
| Depreciation | 26 | 28 | 29 | 31 | 33 | 33 | 34 | 37 | 36 | 37 | 38 |
| Profit before Tax | 79 | 112 | 107 | 103 | 175 | 193 | 122 | 109 | 142 | 200 | 256 |
| Tax % | 30.38% | 29.64% | 30.49% | 33.30% | 33.79% | 34.31% | 11.55% | 32.76% | 33.95% | 32.32% | 31.14% |
| Net Profit | 55 | 79 | 75 | 69 | 116 | 127 | 108 | 73 | 94 | 136 | 176 |
| EPS | 24.51 | 21.07 | 20.63 | 20.29 | 33.38 | 36.27 | 14.83 | 12.18 | 20.84 | 35.28 | — |
| Dividend Payout % | 2.12% | 2.46% | 2.50% | 2.56% | 3.11% | 2.86% | 7.00% | 6.16% | 4.80% | 3.54% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 8%
- 5 Years:
- 8%
- 3 Years:
- 7%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 5%
- 5 Years:
- 2%
- 3 Years:
- 35%
STOCK PRICE CAGR
- 10 Years:
- 7%
- 5 Years:
- 1%
- 3 Years:
- 19%
- 1 Year:
- -5%
RETURN ON EQUITY
- 10 Years:
- 3%
- 5 Years:
- 3%
- 3 Years:
- 2%
- Last Year:
- 3%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| 2,707 | 2,877 | 3,044 | 3,201 | 3,475 | 3,749 | 3,875 | 4,052 | 4,223 | 4,513 | |
| 338 | 214 | 189 | 241 | 145 | 215 | 295 | 237 | 254 | 167 | |
| Trade Payables | 62 | 49 | 48 | 68 | 82 | 54 | 24 | 30 | 44 | 28 |
| 148 | 166 | 175 | 195 | 256 | 267 | 262 | 256 | 290 | 308 | |
| Total Liabilities | 3,263 | 3,315 | 3,464 | 3,713 | 3,968 | 4,294 | 4,465 | 4,583 | 4,819 | 5,025 |
| 424 | 424 | 442 | 466 | 472 | 522 | 563 | 565 | 558 | 556 | |
| Capital Work in Progress | 11 | 10 | 5 | 21 | 36 | 19 | 12 | 6 | 5 | 17 |
| 2,270 | 2,366 | 2,477 | 2,602 | 2,817 | 3,053 | 3,058 | 3,172 | 3,340 | 3,485 | |
| 342 | 285 | 287 | 357 | 374 | 416 | 601 | 610 | 606 | 631 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 70 | 100 | 88 | |
| Cash & Bank | 55 | 44 | 64 | 64 | 77 | 90 | 73 | 87 | 101 | 151 |
| 162 | 188 | 189 | 204 | 192 | 194 | 158 | 73 | 109 | 98 | |
| Total Assets | 3,263 | 3,315 | 3,464 | 3,713 | 3,968 | 4,294 | 4,465 | 4,583 | 4,819 | 5,025 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 32 | 119 | 79 | 46 | 200 | 101 | -36 | 135 | 133 | 201 | |
| Cash from Investing | -9 | 13 | -33 | -63 | -73 | -138 | -27 | -21 | -108 | -37 |
| Cash from Financing | -48 | -150 | -36 | 27 | -104 | 63 | 54 | -100 | -11 | -114 |
| -9 | -12 | 20 | 0 | 14 | 13 | -17 | 14 | 14 | 50 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-21 - Ramco Industries 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 - Ramco Industries Limited has informed the Exchange regarding Proceedings of undefined held on August 20, 2026
2026-08-12 - Ramco Industries Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-10 - Ramco Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-29 - Ramco Industries Limited has informed the Exchange about Copy of Newspaper Publication
2026-07-28 - Ramco Industries Limited has informed the Exchange regarding '61st AGM - updates'. Copy of Communication sent to shareholders, who have registered their e-mail addresses, providing the weblink to access the Company's Annual Report 2025-26,
2026-07-28 - Ramco Industries Limited has informed the Exchange regarding '61st AGM - updates'. Copy of Communication sent to shareholders, who have not registered their e-mail addresses, providing the weblink and exact path to access the Company's Annual Report 2025-26,
2026-07-28 - Ramco Industries Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
2026-07-27 - Ramco Industries Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 20, 2026
News
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