Star Cement Ltd.

•

starcement.co.inBSE: 540575NSE: STARCEMENT

Market Cap₹ 7,896 Cr.

Current Price

High / Low₹ 280 / 180

Stock P/E21.4

Book Value₹ 81

Price to Book3.02

Dividend Yield0.51 %

ROCE8.4 %

ROE6.0 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2023 • Cement: 99.8% • Power: 0.2%

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 1.61x)
Company comfortably covers its interest (8.1x coverage)
Company maintains a comfortable, low leverage position

CONS

Receivables are growing faster than sales - a possible quality concern
Recent results are weak - TTM profit is down 17.3% versus prior year
Promoter holding has decreased over last 2 years: -8.4pp
Company has a low return on equity of 9.5% over last 3 years
Total debt has risen sharply - up 200.5% year on year
Company has delivered a poor profit growth of -10.1% over past five years

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

Peer comparison

Construction MaterialsConstruction MaterialsCement & Construction Materials

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	ULTRACEMCO	10996.00	37.95	324029.22	2.18	2603.72	17.24	24648.20	15.85	13.25	20.35
2.	AMBUJACEM	391.00	22.20	97156.35	0.51	660.00	-31.93	9500.00	-7.67	6.24	16.78
3.	SHREECEM	22588.80	50.00	81502.08	0.66	531.12	-17.48	6233.13	18.03	10.61	20.41
4.	JKCEMENT	4841.40	39.56	37408.65	0.41	274.62	-15.31	4031.72	20.26	14.89	16.07
5.	DALBHARAT	1749.20	35.17	32809.04	0.51	192.00	-51.39	3890.00	6.99	8.15	20.69
6.	ACC	1246.15	12.26	23401.11	0.60	147.00	-60.84	5808.00	-4.59	11.60	7.90
7.	RAMCOCEM	866.40	31.75	20472.37	0.29	31.24	-63.06	2273.05	9.60	10.75	13.49
8.	JSWCEMENT	118.80	21.30	16196.78	0.42	153.43	111.23	1896.41	21.58	-4.21	16.41
9.	NUVOCO	330.20	30.56	11793.30	0.00	159.63	19.88	3128.71	8.91	7.11	18.16
10.	INDIACEM	346.30	116.03	10731.74	0.00	26.85	120.20	1019.42	-0.52	0.30	15.28
11.	STARCEMENT	195.35	21.36	7895.66	0.51	73.91	-24.71	942.89	3.39	8.42	20.63
12.	BIRLACORPN	825.30	11.48	6355.25	1.51	115.73	-3.21	2646.45	7.83	10.88	12.93

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
	760	585	651	914	751	642	719	1,052	912	811	880	1,174	943
	631	487	503	734	635	546	615	789	684	621	678	858	854
Operating Profit	129	99	149	180	116	96	104	263	228	190	202	315	89
OPM %	17.00%	16.84%	22.84%	19.67%	15.46%	14.90%	14.50%	24.97%	25.02%	23.45%	23.01%	26.85%	9.47%
	9	6	4	8	1	2	3	5	2	3	-1	3	8
Interest	2	3	3	4	6	7	10	9	10	11	12	13	14
Depreciation	32	36	37	42	73	83	89	88	85	90	91	99	91
Profit before Tax	104	65	113	141	39	8	8	171	135	92	99	207	98
Tax %	10.29%	37.50%	35.17%	37.88%	20.68%	25.00%	-18.92%	28.18%	27.10%	23.05%	24.69%	28.89%	24.21%
Net Profit	0	0	0	0	31	6	9	123	98	71	74	147	74
	2.31	1.01	1.82	2.17	0.77	0.14	0.22	3.05	2.44	1.78	1.85	3.66	1.85

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	1,715	1,528	1,615	1,831	1,843	1,720	2,222	2,705	2,911	3,163	3,807
	1,316	1,120	1,093	1,382	1,449	1,387	1,877	2,236	2,354	2,585	3,010
Operating Profit	399	408	521	449	394	333	345	468	556	578	797
OPM %	23.29%	26.72%	32.29%	24.53%	21.39%	19.34%	15.54%	17.32%	19.11%	18.29%	20.93%
	1	3	4	5	30	-36	33	52	26	11	14
Interest	83	78	52	14	9	7	13	10	13	32	50
Depreciation	171	118	121	106	93	90	122	131	147	332	372
Profit before Tax	145	215	353	335	322	199	244	380	424	226	495
Tax %	4.10%	6.47%	4.65%	8.86%	10.64%	6.09%	-1.28%	34.78%	30.33%	25.19%	26.04%
Net Profit	139	201	336	305	287	187	247	248	295	169	366
EPS	3.20	4.64	7.89	7.13	6.85	4.54	6.04	6.13	7.30	4.18	—
Dividend Payout %	0.00%	0.00%	12.68%	0.00%	14.44%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 8%
5 Years:: 11%
3 Years:: 12%

COMPOUNDED PROFIT GROWTH

10 Years:: 4%
5 Years:: -10%
3 Years:: -12%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 13%
3 Years:: 7%
1 Year:: -28%

RETURN ON EQUITY

10 Years:: 14%
5 Years:: 10%
3 Years:: 9%
Last Year:: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	42	42	42	42	41	41	40	40	40	40
Minority Interest	53	57	62	68	70	0	0	0	0	-0
	1,013	1,104	1,434	1,682	1,816	2,033	2,128	2,376	2,670	2,839
	1,033	970	541	186	136	157	178	38	157	389
Trade Payables	140	94	189	125	96	98	212	277	219	233
	184	126	168	155	-37	7	-53	110	277	363
Total Liabilities	2,466	2,392	2,436	2,258	2,122	2,336	2,506	2,842	3,362	3,864
	919	863	785	722	696	823	923	891	1,416	2,421
Capital Work in Progress	49	55	36	74	238	126	105	551	1,019	220
	2	1	1	2	2	2	167	173	2	2
	209	161	295	277	257	235	195	374	335	446
	0	0	0	0	0	0	0	0	151	200
Cash & Bank	24	20	20	211	284	472	385	312	97	52
	1,263	1,291	1,299	971	646	679	731	542	342	523
Total Assets	2,466	2,392	2,436	2,258	2,122	2,336	2,506	2,842	3,362	3,864

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	125	328	487	676	533	380	452	426	490	296
Cash from Investing	-79	-89	-25	-193	-136	-333	-289	-255	-650	-529
Cash from Financing	-14	-218	-393	-348	-201	-3	-176	10	86	224
	4	-7	2	76	146	14	-47	114	-74	-8

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	66.49	66.47	57.69	57.66	57.66	57.59	57.62	58.12	58.10
	1.61	1.36	1.20	2.02	2.24	2.96	2.47	2.26	2.29
	5.03	4.96	4.95	5.16	4.90	4.37	4.47	2.63	2.37
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	26.88	27.22	36.17	35.16	35.20	35.08	35.44	36.99	37.24

Documents

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

2026-09-09

General Updates

2026-09-09 - Star Cement Limited has informed the Exchange about the Company's participation in Investors & Analyst Meet in Mumbai.

2026-09-04

Copy of Newspaper Publication

2026-09-04 - Star Cement Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-03

General Updates

2026-09-03 - Star Cement Limited has informed the Exchange about the Communication to the Physical Shareholder regarding the Annual General Meeting for the FY 2025-26

2026-09-03

Shareholders meeting

2026-09-03 - Star Cement Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 25, 2026

2026-08-27

General Updates

2026-08-27 - Star Cement Limited has informed the Exchange about General Updates

2026-08-26

Investor Presentation

2026-08-26 - Star Cement Limited has informed the Exchange about Investor Presentation

2026-08-25

Copy of Newspaper Publication

2026-08-25 - Star Cement Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-13

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-13 - Star Cement Limited has informed the Exchange about Transcript

2026-08-10

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-10 - Star Cement Limited has informed the Exchange about Link of Recording

News

Recent coverage and analyst commentary for STARCEMENT

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Star Cement Ltd.

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Free 5nance Account

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

BIRLACORPN

825.30

11.48

6355.25

1.51

115.73

-3.21

2646.45

7.83

10.88

12.93

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

760

585

651

914

751

642

719

1,052

912

811

880

1,174

943

631

487

503

734

635

546

615

789

684

621

678

858

854

Operating Profit

129

149

180

116

104

263

228

190

202

315

OPM %

17.00%

16.84%

22.84%

19.67%

15.46%

14.90%

14.50%

24.97%

25.02%

23.45%

23.01%

26.85%

9.47%

-1

Interest

Depreciation

Profit before Tax

104

113

141

171

135

207

Tax %

10.29%

37.50%

35.17%

37.88%

20.68%

25.00%

-18.92%

28.18%

27.10%

23.05%

24.69%

28.89%

24.21%

Net Profit

123

147

2.31

1.01

1.82

2.17

0.77

0.14

0.22

3.05

2.44

1.78

1.85

3.66

1.85

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

1,715

1,528

1,615

1,831

1,843

1,720

2,222

2,705

2,911

3,163

3,807

1,316

1,120

1,093

1,382

1,449

1,387

1,877

2,236

2,354

2,585

3,010

Operating Profit

399

408

521

449

394

333

345

468

556

578

797

OPM %

23.29%

26.72%

32.29%

24.53%

21.39%

19.34%

15.54%

17.32%

19.11%

18.29%

20.93%

-36

Interest

Depreciation

171

118

121

106

122

131

147

332

372

Profit before Tax

145

215

353

335

322

199

244

380

424

226

495

Tax %

4.10%

6.47%

4.65%

8.86%

10.64%

6.09%

-1.28%

34.78%

30.33%

25.19%

26.04%

Net Profit

139

201

336

305

287

187

247

248

295

169

366

EPS

3.20

4.64

7.89

7.13

6.85

4.54

6.04

6.13

7.30

4.18

—

Dividend Payout %

0.00%

12.68%

0.00%

14.44%

0.00%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

Minority Interest

-0

1,013

1,104

1,434

1,682

1,816

2,033

2,128

2,376

2,670

2,839

1,033

970

541

186

136

157

178

157

389

Trade Payables

140

189

125

212

277

219

233

184

126

168

155

-37

-53

110

277

363

Total Liabilities

2,466

2,392

2,436

2,258

2,122

2,336

2,506

2,842

3,362

3,864

919

863

785

722

696

823

923

891

1,416

2,421

Capital Work in Progress

238

126

105

551

1,019

220

167

173

209

161

295

277

257

235

195

374

335

446

151

200

Cash & Bank

211

284

472

385

312

1,263

1,291

1,299

971

646

679

731

542

342

523

Total Assets

2,466

2,392

2,436

2,258

2,122

2,336

2,506

2,842

3,362

3,864

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

125

328

487

676

533

380

452

426

490

296

Cash from Investing

-79

-89

-25

-193

-136

-333

-289

-255

-650

-529

Cash from Financing

-14

-218

-393

-348

-201

-3

-176

224

-7

146

-47

114

-74

-8

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

66.49

66.47

57.69

57.66

57.59

57.62

58.12

58.10

1.61

1.36

1.20

2.02

2.24

2.96

2.47

2.26

2.29

5.03

4.96

4.95

5.16

4.90

4.37

4.47

2.63

2.37

Government

0.00

26.88

27.22

36.17

35.16

35.20

35.08

35.44

36.99

37.24

Star Cement Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Star Cement Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI