Star Cement Ltd.
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ABOUT
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
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.31x)
- Company maintains a comfortable, low leverage position
CONS
- Company is loss-making at the operating / net level
- Receivables are growing faster than sales - a possible quality concern
- Recent results are weak - TTM profit is down 37.7% versus prior year
- Promoter holding has decreased over last 2 years: -8.4pp
- Interest coverage is weak at -3.3x - earnings barely cover interest
- Company has a low return on equity of 7.5% over last 3 years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ULTRACEMCO | 10896.00 | 37.60 | 321082.42 | 2.20 | 2603.72 | 17.24 | 24648.20 | 15.85 | 13.25 | 20.35 |
| AMBUJACEM | 396.05 | 22.49 | 98411.18 | 0.51 | 660.00 | -31.93 | 9500.00 | -7.67 | 6.24 | 16.78 |
| SHREECEM | 22911.30 | 50.71 | 82665.68 | 0.65 | 531.12 | -17.48 | 6233.13 | 18.03 | 10.61 | 20.41 |
| JKCEMENT | 4989.80 | 40.78 | 38555.31 | 0.40 | 274.62 | -15.31 | 4031.72 | 20.26 | 14.89 | 16.07 |
| DALBHARAT | 1734.10 | 34.86 | 32525.81 | 0.52 | 192.00 | -51.39 | 3890.00 | 6.99 | 8.15 | 20.69 |
| ACC | 1257.80 | 12.37 | 23619.88 | 0.60 | 147.00 | -60.84 | 5808.00 | -4.59 | 11.60 | 7.90 |
| RAMCOCEM | 865.45 | 31.71 | 20449.92 | 0.29 | 31.24 | -63.06 | 2273.05 | 9.60 | 10.75 | 13.49 |
| JSWCEMENT | 120.85 | 21.67 | 16476.27 | 0.41 | 153.43 | 111.23 | 1896.41 | 21.58 | -4.21 | 16.41 |
| NUVOCO | 335.15 | 31.01 | 11970.09 | 0.00 | 159.63 | 19.88 | 3128.71 | 8.91 | 7.11 | 18.16 |
| INDIACEM | 351.65 | 117.82 | 10897.54 | 0.00 | 26.85 | 120.20 | 1019.42 | -0.52 | 0.30 | 15.28 |
| STARCEMENT | 191.50 | 20.94 | 7740.05 | 0.52 | 73.91 | -24.71 | 942.89 | 3.39 | 8.42 | 20.63 |
| BIRLACORPN | 836.25 | 11.63 | 6439.57 | 1.49 | 115.73 | -3.21 | 2646.45 | 7.83 | 10.88 | 12.93 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 773 | 602 | 659 | 860 | 472 | 397 | 451 | 658 | 545 | 522 | 532 | 785 | 576 | |
| 680 | 525 | 553 | 742 | 452 | 404 | 463 | 549 | 445 | 434 | 432 | 627 | 551 | |
| Operating Profit | 93 | 77 | 106 | 118 | 20 | -7 | -12 | 109 | 100 | 87 | 100 | 159 | 25 |
| OPM % | 12.04% | 12.83% | 16.05% | 13.71% | 4.24% | -1.88% | -2.72% | 16.55% | 18.40% | 16.73% | 18.75% | 20.23% | 4.39% |
| 6 | 5 | 4 | 25 | 3 | 4 | 3 | 4 | 4 | 5 | 2 | 6 | 9 | |
| Interest | 3 | 4 | 3 | 4 | 4 | 2 | 5 | 9 | 11 | 13 | 10 | 11 | 10 |
| Depreciation | 19 | 20 | 20 | 22 | 39 | 47 | 52 | 50 | 52 | 55 | 56 | 56 | 48 |
| Profit before Tax | 77 | 59 | 87 | 116 | -20 | -52 | -67 | 54 | 40 | 25 | 35 | 99 | 34 |
| Tax % | 29.56% | 37.54% | 35.10% | 36.89% | 34.58% | 27.62% | 33.57% | 32.17% | 40.02% | 37.42% | 34.86% | 31.39% | 30.77% |
| Net Profit | 54 | 37 | 56 | 73 | -13 | -38 | -44 | 37 | 24 | 15 | 23 | 68 | 24 |
| 1.34 | 0.91 | 1.40 | 1.82 | -0.32 | -0.94 | -1.10 | 0.91 | 0.60 | 0.38 | 0.57 | 1.67 | 0.59 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,416 | 1,284 | 1,464 | 1,695 | 1,773 | 1,664 | 2,196 | 2,707 | 2,894 | 1,992 | 2,415 | |
| 1,251 | 1,104 | 1,139 | 1,387 | 1,488 | 1,423 | 1,964 | 2,395 | 2,500 | 1,883 | 2,044 | |
| Operating Profit | 165 | 180 | 325 | 308 | 286 | 241 | 232 | 312 | 394 | 109 | 371 |
| OPM % | 11.67% | 14.02% | 22.19% | 18.18% | 16.11% | 14.48% | 10.56% | 11.53% | 13.61% | 5.48% | 15.37% |
| 0 | 3 | 4 | 40 | 28 | -8 | 23 | 27 | 40 | 14 | 22 | |
| Interest | 49 | 56 | 43 | 21 | 20 | 13 | 12 | 13 | 13 | 20 | 44 |
| Depreciation | 61 | 40 | 57 | 46 | 43 | 48 | 72 | 78 | 82 | 188 | 214 |
| Profit before Tax | 56 | 86 | 228 | 280 | 251 | 173 | 170 | 249 | 339 | -85 | 193 |
| Tax % | -0.79% | 7.05% | 7.49% | 8.73% | 12.87% | 8.85% | -3.49% | 34.09% | 34.89% | 31.03% | 32.69% |
| Net Profit | 56 | 80 | 211 | 256 | 219 | 157 | 176 | 164 | 221 | -58 | 130 |
| EPS | 1.34 | 1.91 | 5.03 | 6.10 | 5.25 | 3.81 | 4.32 | 4.06 | 5.46 | -1.45 | — |
| Dividend Payout % | 0.00% | 0.00% | 19.89% | 0.00% | 18.86% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 6%
- 5 Years:
- 2%
- 3 Years:
- -3%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 13%
- 3 Years:
- 7%
- 1 Year:
- -29%
RETURN ON EQUITY
- 10 Years:
- 15%
- 5 Years:
- 10%
- 3 Years:
- 7%
- Last Year:
- -4%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 |
| 530 | 586 | 796 | 1,009 | 1,077 | 1,234 | 1,259 | 1,423 | 1,643 | 1,584 | |
| 650 | 725 | 517 | 254 | 258 | 253 | 237 | 42 | 112 | 431 | |
| Trade Payables | 147 | 74 | 158 | 95 | 95 | 195 | 223 | 268 | 204 | 183 |
| 124 | 90 | 120 | 117 | 17 | 9 | 29 | 170 | 315 | 333 | |
| Total Liabilities | 1,494 | 1,517 | 1,634 | 1,517 | 1,488 | 1,732 | 1,789 | 1,944 | 2,315 | 2,572 |
| 263 | 286 | 274 | 256 | 274 | 435 | 495 | 499 | 488 | 1,528 | |
| Capital Work in Progress | 41 | 46 | 26 | 61 | 223 | 109 | 53 | 360 | 1,004 | 94 |
| 239 | 239 | 239 | 239 | 239 | 279 | 408 | 347 | 339 | 340 | |
| 85 | 62 | 122 | 80 | 84 | 95 | 96 | 168 | 119 | 181 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 112 | 125 | |
| Cash & Bank | 8 | 13 | 8 | 194 | 262 | 366 | 236 | 208 | 33 | 41 |
| 858 | 872 | 965 | 687 | 406 | 448 | 501 | 362 | 219 | 264 | |
| Total Assets | 1,494 | 1,517 | 1,634 | 1,517 | 1,488 | 1,732 | 1,789 | 1,944 | 2,315 | 2,572 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -54 | 96 | 289 | 547 | 494 | 297 | 284 | 371 | 407 | 19 | |
| Cash from Investing | -33 | -76 | -18 | -141 | -115 | -235 | -80 | -162 | -531 | -325 |
| Cash from Financing | 73 | -8 | -231 | -290 | -180 | -38 | -211 | -52 | 36 | 307 |
| -4 | 1 | -2 | 71 | 158 | -1 | -31 | 112 | -88 | -0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - Star Cement Limited has informed the Exchange about the Company's participation in Investors & Analyst Meet in Mumbai.
2026-09-04 - Star Cement Limited has informed the Exchange about Copy of Newspaper Publication
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 - Star Cement Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 25, 2026
2026-08-27 - Star Cement Limited has informed the Exchange about General Updates
2026-08-26 - Star Cement Limited has informed the Exchange about Investor Presentation
2026-08-25 - Star Cement Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-13 - Star Cement Limited has informed the Exchange about Transcript
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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