Star Cement Ltd.

•

₹ 194.620.13%

2026-08-21

starcement.co.inBSE: 540575NSE: STARCEMENT

Market Cap₹ 7,841 Cr.

Current Price₹ 194

High / Low₹ 309 / 193

Stock P/E0.0

Book Value₹ 42

Price to Book5.35

Dividend Yield0.52 %

ROCE-3.4 %

ROE-3.5 %

Face Value₹ 1

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ABOUT

KEY POINTS

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

EDIT COLUMNS

Construction MaterialsConstruction MaterialsCement & Construction Materials

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	ULTRACEMCO	11460.00	39.55	337702.33	2.09	2603.72	17.24	24648.20	15.85	13.25	20.35
2.	AMBUJACEM	406.00	23.05	100883.58	0.49	660.00	-31.93	9500.00	-7.67	6.24	16.78
3.	SHREECEM	24360.00	53.92	87892.70	0.62	531.12	-17.48	6233.13	18.03	10.61	20.41
4.	JKCEMENT	5280.65	43.15	40802.66	0.38	274.62	-15.31	4031.72	20.26	14.89	16.07
5.	DALBHARAT	1875.00	37.69	35168.62	0.48	192.00	-51.39	3890.00	6.99	8.15	20.69
6.	ACC	1289.40	12.69	24213.29	0.58	147.00	-60.84	5808.00	-4.59	11.60	7.90
7.	RAMCOCEM	900.85	33.01	21286.40	0.28	31.24	-63.06	2273.05	9.60	10.75	13.49
8.	JSWCEMENT	123.95	22.22	16898.91	0.40	153.43	111.23	1896.41	21.58	-4.21	16.41
9.	NUVOCO	318.90	29.51	11389.71	0.00	159.63	19.88	3128.71	8.91	7.11	18.16
10.	INDIACEM	366.40	122.77	11354.63	0.00	26.85	120.20	1019.42	-0.52	0.30	15.28
11.	STARCEMENT	194.00	21.21	7841.10	0.52	73.91	-24.71	942.89	3.39	8.42	20.63
12.	JKLAKSHMI	557.45	18.71	6920.43	1.17	108.07	-27.90	1904.78	9.41	12.36	13.63

Detailed Comparison with:

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	—	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	6	5	4	25	3	4	3	4	4	5	4	10	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
	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	1	1	2	-0	-1	-1	1	1	0	1	2	0
Equity Capital	40	40	40	40	40	40	40	40	40	40	40	40	40
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	40	40	40	40	40	40	40	40	40	40	40	40	40
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Jun 2023

: 773
: 680
Operating Profit: —
OPM %: —
Other Income: 6
Interest: 3
Depreciation: 19
: 77
Tax %: 29.56%
Net Profit: 54
: 1
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2023

: 602
: 525
Operating Profit: —
OPM %: —
Other Income: 5
Interest: 4
Depreciation: 20
: 59
Tax %: 37.54%
Net Profit: 37
: 1
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2023

: 659
: 553
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 3
Depreciation: 20
: 87
Tax %: 35.10%
Net Profit: 56
: 1
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 860
: 742
Operating Profit: —
OPM %: —
Other Income: 25
Interest: 4
Depreciation: 22
: 116
Tax %: 36.89%
Net Profit: 73
: 2
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 472
: 452
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 4
Depreciation: 39
: -20
Tax %: 34.58%
Net Profit: -13
: -0
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 397
: 404
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 2
Depreciation: 47
: -52
Tax %: 27.62%
Net Profit: -38
: -1
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 451
: 463
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 5
Depreciation: 52
: -67
Tax %: 33.57%
Net Profit: -44
: -1
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 658
: 549
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 9
Depreciation: 50
: 54
Tax %: 32.17%
Net Profit: 37
: 1
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 545
: 445
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 11
Depreciation: 52
: 40
Tax %: 40.02%
Net Profit: 24
: 1
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 522
: 434
Operating Profit: —
OPM %: —
Other Income: 5
Interest: 13
Depreciation: 55
: 25
Tax %: 37.42%
Net Profit: 15
: 0
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 532
: 432
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 10
Depreciation: 56
: 35
Tax %: 34.86%
Net Profit: 23
: 1
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 785
: 627
Operating Profit: —
OPM %: —
Other Income: 10
Interest: 11
Depreciation: 56
: 99
Tax %: 31.39%
Net Profit: 68
: 2
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2026

: 576
: 551
Operating Profit: —
OPM %: —
Other Income: 9
Interest: 10
Depreciation: 48
: 34
Tax %: 30.77%
Net Profit: 24
: 0
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

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	166	183	329	348	314	262	255	339	434	123	—
OPM %	12	14	22	21	18	16	12	13	15	6	—
Other Income	1	3	4	40	28	21	23	27	40	14	28
Interest	49	56	43	21	20	13	12	13	13	20	44
Depreciation	61	40	57	46	43	48	72	78	82	188	214
	56	86	228	280	251	173	170	249	339	-85	193
Tax %	-1	7	7	9	13	9	-3	34	35	31	33
Net Profit	56	80	211	256	219	157	176	164	221	-58	130
EPS	1	2	5	6	5	4	4	4	5	-1	—
Dividend Payout %	0	0	20	0	19	0	0	0	0	0	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	1	2	5	6	5	4	4	4	5	-1	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	1	2	5	6	5	4	4	4	5	-1	—

Mar 2016

: 1,416
: 1,251
Operating Profit: 166
OPM %: 12
Other Income: 1
Interest: 49
Depreciation: 61
: 56
Tax %: -1
Net Profit: 56
EPS: 1
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1

Mar 2017

: 1,284
: 1,104
Operating Profit: 183
OPM %: 14
Other Income: 3
Interest: 56
Depreciation: 40
: 86
Tax %: 7
Net Profit: 80
EPS: 2
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

Mar 2018

: 1,464
: 1,139
Operating Profit: 329
OPM %: 22
Other Income: 4
Interest: 43
Depreciation: 57
: 228
Tax %: 7
Net Profit: 211
EPS: 5
Dividend Payout %: 20
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5

Mar 2019

: 1,695
: 1,387
Operating Profit: 348
OPM %: 21
Other Income: 40
Interest: 21
Depreciation: 46
: 280
Tax %: 9
Net Profit: 256
EPS: 6
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2020

: 1,773
: 1,488
Operating Profit: 314
OPM %: 18
Other Income: 28
Interest: 20
Depreciation: 43
: 251
Tax %: 13
Net Profit: 219
EPS: 5
Dividend Payout %: 19
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5

Mar 2021

: 1,664
: 1,423
Operating Profit: 262
OPM %: 16
Other Income: 21
Interest: 13
Depreciation: 48
: 173
Tax %: 9
Net Profit: 157
EPS: 4
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4

Mar 2022

: 2,196
: 1,964
Operating Profit: 255
OPM %: 12
Other Income: 23
Interest: 12
Depreciation: 72
: 170
Tax %: -3
Net Profit: 176
EPS: 4
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4

Mar 2023

: 2,707
: 2,395
Operating Profit: 339
OPM %: 13
Other Income: 27
Interest: 13
Depreciation: 78
: 249
Tax %: 34
Net Profit: 164
EPS: 4
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4

Mar 2024

: 2,894
: 2,500
Operating Profit: 434
OPM %: 15
Other Income: 40
Interest: 13
Depreciation: 82
: 339
Tax %: 35
Net Profit: 221
EPS: 5
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5

Mar 2025

: 1,992
: 1,883
Operating Profit: 123
OPM %: 6
Other Income: 14
Interest: 20
Depreciation: 188
: -85
Tax %: 31
Net Profit: -58
EPS: -1
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -1
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -1

TTM

: 2,415
: 2,044
Operating Profit: —
OPM %: —
Other Income: 28
Interest: 44
Depreciation: 214
: 193
Tax %: 33
Net Profit: 130
EPS: —
Dividend Payout %: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —

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:: 11%
3 Years:: 8%
1 Year:: -33%

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
LIABILITIES	-	-	-	-	-	-	-	-	-	-
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
	288	257	146	6	5	7	4	8	36	35
Trade Payables	147	74	158	95	95	195	223	268	204	183
	486	559	490	366	270	255	262	203	391	730
Total Liabilities	1,494	1,517	1,634	1,517	1,488	1,732	1,789	1,944	2,315	2,572
ASSETS	-	-	-	-	-	-	-	-	-	-
	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
Total Debt	574	622	428	157	148	122	76	38	92	424
Net Working Capital	198	386	505	528	415	467	237	-24	-325	-222
Contingent Liabilities	19	23	19	95	65	59	163	199	88	78
Book Value per Share	13.64	14.97	20.00	25.08	27.11	30.92	32.15	36.21	41.64	40.19
Face Value	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00
Total Debt	574	622	428	157	148	122	76	38	92	424
Net Working Capital	198	386	505	528	415	467	237	-24	-325	-222
Contingent Liabilities	19	23	19	95	65	59	163	199	88	78
Book Value per Share	13.64	14.97	20.00	25.08	27.11	30.92	32.15	36.21	41.64	40.19
Face Value	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00

Mar 2016

Equity Capital: 42
: 530
: 288
Trade Payables: 147
: 486
Total Liabilities: 1,494
: 263
Capital Work in Progress: 41
: 239
: 85
: 0
Cash & Bank: 8
: 858
Total Assets: 1,494
Total Debt: 574
Net Working Capital: 198
Contingent Liabilities: 19
Book Value per Share: 13.64
Face Value: 1.00
Total Debt: 574
Net Working Capital: 198
Contingent Liabilities: 19
Book Value per Share: 13.64
Face Value: 1.00

Mar 2017

Equity Capital: 42
: 586
: 257
Trade Payables: 74
: 559
Total Liabilities: 1,517
: 286
Capital Work in Progress: 46
: 239
: 62
: 0
Cash & Bank: 13
: 872
Total Assets: 1,517
Total Debt: 622
Net Working Capital: 386
Contingent Liabilities: 23
Book Value per Share: 14.97
Face Value: 1.00
Total Debt: 622
Net Working Capital: 386
Contingent Liabilities: 23
Book Value per Share: 14.97
Face Value: 1.00

Mar 2018

Equity Capital: 42
: 796
: 146
Trade Payables: 158
: 490
Total Liabilities: 1,634
: 274
Capital Work in Progress: 26
: 239
: 122
: 0
Cash & Bank: 8
: 965
Total Assets: 1,634
Total Debt: 428
Net Working Capital: 505
Contingent Liabilities: 19
Book Value per Share: 20.00
Face Value: 1.00
Total Debt: 428
Net Working Capital: 505
Contingent Liabilities: 19
Book Value per Share: 20.00
Face Value: 1.00

Mar 2019

Equity Capital: 42
: 1,009
: 6
Trade Payables: 95
: 366
Total Liabilities: 1,517
: 256
Capital Work in Progress: 61
: 239
: 80
: 0
Cash & Bank: 194
: 687
Total Assets: 1,517
Total Debt: 157
Net Working Capital: 528
Contingent Liabilities: 95
Book Value per Share: 25.08
Face Value: 1.00
Total Debt: 157
Net Working Capital: 528
Contingent Liabilities: 95
Book Value per Share: 25.08
Face Value: 1.00

Mar 2020

Equity Capital: 41
: 1,077
: 5
Trade Payables: 95
: 270
Total Liabilities: 1,488
: 274
Capital Work in Progress: 223
: 239
: 84
: 0
Cash & Bank: 262
: 406
Total Assets: 1,488
Total Debt: 148
Net Working Capital: 415
Contingent Liabilities: 65
Book Value per Share: 27.11
Face Value: 1.00
Total Debt: 148
Net Working Capital: 415
Contingent Liabilities: 65
Book Value per Share: 27.11
Face Value: 1.00

Mar 2021

Equity Capital: 41
: 1,234
: 7
Trade Payables: 195
: 255
Total Liabilities: 1,732
: 435
Capital Work in Progress: 109
: 279
: 95
: 0
Cash & Bank: 366
: 448
Total Assets: 1,732
Total Debt: 122
Net Working Capital: 467
Contingent Liabilities: 59
Book Value per Share: 30.92
Face Value: 1.00
Total Debt: 122
Net Working Capital: 467
Contingent Liabilities: 59
Book Value per Share: 30.92
Face Value: 1.00

Mar 2022

Equity Capital: 40
: 1,259
: 4
Trade Payables: 223
: 262
Total Liabilities: 1,789
: 495
Capital Work in Progress: 53
: 408
: 96
: 0
Cash & Bank: 236
: 501
Total Assets: 1,789
Total Debt: 76
Net Working Capital: 237
Contingent Liabilities: 163
Book Value per Share: 32.15
Face Value: 1.00
Total Debt: 76
Net Working Capital: 237
Contingent Liabilities: 163
Book Value per Share: 32.15
Face Value: 1.00

Mar 2023

Equity Capital: 40
: 1,423
: 8
Trade Payables: 268
: 203
Total Liabilities: 1,944
: 499
Capital Work in Progress: 360
: 347
: 168
: 0
Cash & Bank: 208
: 362
Total Assets: 1,944
Total Debt: 38
Net Working Capital: -24
Contingent Liabilities: 199
Book Value per Share: 36.21
Face Value: 1.00
Total Debt: 38
Net Working Capital: -24
Contingent Liabilities: 199
Book Value per Share: 36.21
Face Value: 1.00

Mar 2024

Equity Capital: 40
: 1,643
: 36
Trade Payables: 204
: 391
Total Liabilities: 2,315
: 488
Capital Work in Progress: 1,004
: 339
: 119
: 112
Cash & Bank: 33
: 219
Total Assets: 2,315
Total Debt: 92
Net Working Capital: -325
Contingent Liabilities: 88
Book Value per Share: 41.64
Face Value: 1.00
Total Debt: 92
Net Working Capital: -325
Contingent Liabilities: 88
Book Value per Share: 41.64
Face Value: 1.00

Mar 2025

Equity Capital: 40
: 1,584
: 35
Trade Payables: 183
: 730
Total Liabilities: 2,572
: 1,528
Capital Work in Progress: 94
: 340
: 181
: 125
Cash & Bank: 41
: 264
Total Assets: 2,572
Total Debt: 424
Net Working Capital: -222
Contingent Liabilities: 78
Book Value per Share: 40.19
Face Value: 1.00
Total Debt: 424
Net Working Capital: -222
Contingent Liabilities: 78
Book Value per Share: 40.19
Face Value: 1.00

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
	-43	85	247	502	453	272	260	326	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
Free Cash Flow	-77	85	224	443	227	177	187	-64	-302	-296
OCF / Net Profit	-0.76	1.06	1.17	1.96	2.07	1.73	1.47	1.99	1.85	-0.32
Cumulative 5-Year FCF	0	0	0	0	902	1,156	1,258	970	225	-299
OCF / Net Profit	-0.76	1.06	1.17	1.96	2.07	1.73	1.47	1.99	1.85	-0.32
Cumulative 5-Year FCF	0	0	0	0	902	1,156	1,258	970	225	-299

Mar 2016

: -43
Cash from Investing: -33
Cash from Financing: 73
: -4
Free Cash Flow: -77
OCF / Net Profit: -0.76
Cumulative 5-Year FCF: 0
OCF / Net Profit: -0.76
Cumulative 5-Year FCF: 0

Mar 2017

: 85
Cash from Investing: -76
Cash from Financing: -8
: 1
Free Cash Flow: 85
OCF / Net Profit: 1.06
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.06
Cumulative 5-Year FCF: 0

Mar 2018

: 247
Cash from Investing: -18
Cash from Financing: -231
: -2
Free Cash Flow: 224
OCF / Net Profit: 1.17
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.17
Cumulative 5-Year FCF: 0

Mar 2019

: 502
Cash from Investing: -141
Cash from Financing: -290
: 71
Free Cash Flow: 443
OCF / Net Profit: 1.96
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.96
Cumulative 5-Year FCF: 0

Mar 2020

: 453
Cash from Investing: -115
Cash from Financing: -180
: 158
Free Cash Flow: 227
OCF / Net Profit: 2.07
Cumulative 5-Year FCF: 902
OCF / Net Profit: 2.07
Cumulative 5-Year FCF: 902

Mar 2021

: 272
Cash from Investing: -235
Cash from Financing: -38
: -1
Free Cash Flow: 177
OCF / Net Profit: 1.73
Cumulative 5-Year FCF: 1,156
OCF / Net Profit: 1.73
Cumulative 5-Year FCF: 1,156

Mar 2022

: 260
Cash from Investing: -80
Cash from Financing: -211
: -31
Free Cash Flow: 187
OCF / Net Profit: 1.47
Cumulative 5-Year FCF: 1,258
OCF / Net Profit: 1.47
Cumulative 5-Year FCF: 1,258

Mar 2023

: 326
Cash from Investing: -162
Cash from Financing: -52
: 112
Free Cash Flow: -64
OCF / Net Profit: 1.99
Cumulative 5-Year FCF: 970
OCF / Net Profit: 1.99
Cumulative 5-Year FCF: 970

Mar 2024

: 407
Cash from Investing: -531
Cash from Financing: 36
: -88
Free Cash Flow: -302
OCF / Net Profit: 1.85
Cumulative 5-Year FCF: 225
OCF / Net Profit: 1.85
Cumulative 5-Year FCF: 225

Mar 2025

: 19
Cash from Investing: -325
Cash from Financing: 307
: -0
Free Cash Flow: -296
OCF / Net Profit: -0.32
Cumulative 5-Year FCF: -299
OCF / Net Profit: -0.32
Cumulative 5-Year FCF: -299

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
PER SHARE	-	-	-	-	-	-	-	-	-	-
EPS (₹)	1.34	1.91	5.03	6.10	5.30	3.81	4.36	4.06	5.46	-1.45
Book Value (₹)	13.64	14.97	20.00	25.08	27.11	30.92	32.15	36.21	41.64	40.19
Dividend per Share (₹)	0.00	0.00	1.00	0.00	1.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	2.79	2.87	6.40	7.21	6.35	4.97	6.15	5.98	7.48	3.21
PROFITABILITY	-	-	-	-	-	-	-	-	-	-
Operating Margin %	11.20%	13.59%	22.16%	20.51%	16.33%	14.51%	10.63%	11.44%	12.31%	4.97%
Net Margin %	3.79%	5.96%	14.21%	15.09%	11.38%	8.70%	7.35%	5.54%	6.90%	-2.66%
ROE %	10.35%	13.34%	28.75%	27.08%	20.16%	13.14%	13.70%	11.87%	14.03%	-3.54%
ROCE %	9.94%	11.88%	21.56%	24.35%	21.87%	13.90%	13.18%	18.17%	21.48%	-3.40%
	4.09%	5.32%	13.38%	16.24%	14.55%	9.77%	10.01%	8.79%	10.37%	-2.39%
EFFICIENCY	-	-	-	-	-	-	-	-	-	-
Debtor Days	71	64	31	27	22	24	20	14	12	20
Inventory Days	17	20	23	22	16	18	15	16	16	25
Payable Days	78	68	73	66	47	72	80	79	69	113
	9	16	-19	-17	-10	-30	-45	-49	-41	-69
FINANCIAL HEALTH	-	-	-	-	-	-	-	-	-	-
Debt to Equity (x)	1.00x	0.99x	0.51x	0.15x	0.13x	0.10x	0.06x	0.03x	0.05x	0.26x
Interest Coverage (x)	2.14x	2.53x	6.25x	14.43x	13.83x	14.74x	14.78x	20.89x	27.17x	-3.27x
	1.35x	1.75x	1.92x	2.51x	2.69x	2.18x	1.59x	0.96x	0.52x	0.68x
GROWTH	-	-	-	-	-	-	-	-	-	-
Revenue Growth %	27.15%	-9.31%	13.99%	15.82%	4.59%	-6.16%	31.98%	23.29%	6.88%	-31.15%
Operating Profit Growth %	-5.57%	9.88%	80.03%	5.78%	-9.74%	-16.48%	-2.77%	32.95%	27.97%	-71.58%
Net Profit Growth %	22.33%	42.13%	163.39%	21.40%	-14.53%	-28.09%	12.11%	-6.98%	34.56%	-126.49%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	34.56%	-126.49%
VALUATION	-	-	-	-	-	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	41.43x	0.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	5.43x	5.35x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	21.22x	73.62x

Mar 2016

EPS (₹): 1.34
Book Value (₹): 13.64
Dividend per Share (₹): 0.00
Cash EPS (₹): 2.79
Operating Margin %: 11.20%
Net Margin %: 3.79%
ROE %: 10.35%
ROCE %: 9.94%
: 4.09%
Debtor Days: 71
Inventory Days: 17
Payable Days: 78
: 9
Debt to Equity (x): 1.00x
Interest Coverage (x): 2.14x
: 1.35x
Revenue Growth %: 27.15%
Operating Profit Growth %: -5.57%
Net Profit Growth %: 22.33%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2017

EPS (₹): 1.91
Book Value (₹): 14.97
Dividend per Share (₹): 0.00
Cash EPS (₹): 2.87
Operating Margin %: 13.59%
Net Margin %: 5.96%
ROE %: 13.34%
ROCE %: 11.88%
: 5.32%
Debtor Days: 64
Inventory Days: 20
Payable Days: 68
: 16
Debt to Equity (x): 0.99x
Interest Coverage (x): 2.53x
: 1.75x
Revenue Growth %: -9.31%
Operating Profit Growth %: 9.88%
Net Profit Growth %: 42.13%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2018

EPS (₹): 5.03
Book Value (₹): 20.00
Dividend per Share (₹): 1.00
Cash EPS (₹): 6.40
Operating Margin %: 22.16%
Net Margin %: 14.21%
ROE %: 28.75%
ROCE %: 21.56%
: 13.38%
Debtor Days: 31
Inventory Days: 23
Payable Days: 73
: -19
Debt to Equity (x): 0.51x
Interest Coverage (x): 6.25x
: 1.92x
Revenue Growth %: 13.99%
Operating Profit Growth %: 80.03%
Net Profit Growth %: 163.39%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2019

EPS (₹): 6.10
Book Value (₹): 25.08
Dividend per Share (₹): 0.00
Cash EPS (₹): 7.21
Operating Margin %: 20.51%
Net Margin %: 15.09%
ROE %: 27.08%
ROCE %: 24.35%
: 16.24%
Debtor Days: 27
Inventory Days: 22
Payable Days: 66
: -17
Debt to Equity (x): 0.15x
Interest Coverage (x): 14.43x
: 2.51x
Revenue Growth %: 15.82%
Operating Profit Growth %: 5.78%
Net Profit Growth %: 21.40%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2020

EPS (₹): 5.30
Book Value (₹): 27.11
Dividend per Share (₹): 1.00
Cash EPS (₹): 6.35
Operating Margin %: 16.33%
Net Margin %: 11.38%
ROE %: 20.16%
ROCE %: 21.87%
: 14.55%
Debtor Days: 22
Inventory Days: 16
Payable Days: 47
: -10
Debt to Equity (x): 0.13x
Interest Coverage (x): 13.83x
: 2.69x
Revenue Growth %: 4.59%
Operating Profit Growth %: -9.74%
Net Profit Growth %: -14.53%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2021

EPS (₹): 3.81
Book Value (₹): 30.92
Dividend per Share (₹): 0.00
Cash EPS (₹): 4.97
Operating Margin %: 14.51%
Net Margin %: 8.70%
ROE %: 13.14%
ROCE %: 13.90%
: 9.77%
Debtor Days: 24
Inventory Days: 18
Payable Days: 72
: -30
Debt to Equity (x): 0.10x
Interest Coverage (x): 14.74x
: 2.18x
Revenue Growth %: -6.16%
Operating Profit Growth %: -16.48%
Net Profit Growth %: -28.09%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 4.36
Book Value (₹): 32.15
Dividend per Share (₹): 0.00
Cash EPS (₹): 6.15
Operating Margin %: 10.63%
Net Margin %: 7.35%
ROE %: 13.70%
ROCE %: 13.18%
: 10.01%
Debtor Days: 20
Inventory Days: 15
Payable Days: 80
: -45
Debt to Equity (x): 0.06x
Interest Coverage (x): 14.78x
: 1.59x
Revenue Growth %: 31.98%
Operating Profit Growth %: -2.77%
Net Profit Growth %: 12.11%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 4.06
Book Value (₹): 36.21
Dividend per Share (₹): 0.00
Cash EPS (₹): 5.98
Operating Margin %: 11.44%
Net Margin %: 5.54%
ROE %: 11.87%
ROCE %: 18.17%
: 8.79%
Debtor Days: 14
Inventory Days: 16
Payable Days: 79
: -49
Debt to Equity (x): 0.03x
Interest Coverage (x): 20.89x
: 0.96x
Revenue Growth %: 23.29%
Operating Profit Growth %: 32.95%
Net Profit Growth %: -6.98%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 5.46
Book Value (₹): 41.64
Dividend per Share (₹): 0.00
Cash EPS (₹): 7.48
Operating Margin %: 12.31%
Net Margin %: 6.90%
ROE %: 14.03%
ROCE %: 21.48%
: 10.37%
Debtor Days: 12
Inventory Days: 16
Payable Days: 69
: -41
Debt to Equity (x): 0.05x
Interest Coverage (x): 27.17x
: 0.52x
Revenue Growth %: 6.88%
Operating Profit Growth %: 27.97%
Net Profit Growth %: 34.56%
: 34.56%
P/E (x): 41.43x
P/B (x): 5.43x
Dividend Yield %: 0.00%
: 21.22x

Mar 2025

EPS (₹): -1.45
Book Value (₹): 40.19
Dividend per Share (₹): 0.00
Cash EPS (₹): 3.21
Operating Margin %: 4.97%
Net Margin %: -2.66%
ROE %: -3.54%
ROCE %: -3.40%
: -2.39%
Debtor Days: 20
Inventory Days: 25
Payable Days: 113
: -69
Debt to Equity (x): 0.26x
Interest Coverage (x): -3.27x
: 0.68x
Revenue Growth %: -31.15%
Operating Profit Growth %: -71.58%
Net Profit Growth %: -126.49%
: -126.49%
P/E (x): 0.00x
P/B (x): 5.35x
Dividend Yield %: 0.00%
: 73.62x

Shareholding Pattern

Numbers in percentages

TRADES

	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

Jun 2024

: 66.49
: 1.61
: 5.03
Government: 0.00
: 26.88

Sep 2024

: 66.47
: 1.36
: 4.96
Government: 0.00
: 27.22

Dec 2024

: 57.69
: 1.20
: 4.95
Government: 0.00
: 36.17

Mar 2025

: 57.66
: 2.02
: 5.16
Government: 0.00
: 35.16

Jun 2025

: 57.66
: 2.24
: 4.90
Government: 0.00
: 35.20

Sep 2025

: 57.59
: 2.96
: 4.37
Government: 0.00
: 35.08

Dec 2025

: 57.62
: 2.47
: 4.47
Government: 0.00
: 35.44

Mar 2026

: 58.12
: 2.26
: 2.63
Government: 0.00
: 36.99

Jun 2026

: 58.10
: 2.29
: 2.37
Government: 0.00
: 37.24

Documents

Announcements

Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-13 - Star Cement Limited has informed the Exchange about Transcript
Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-10 - Star Cement Limited has informed the Exchange about Link of Recording

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Aug 2026
TranscriptPPTREC
Jun 2026
Transcript PPTREC
May 2026
TranscriptPPTREC