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Star Cement Overview

Star Cement Ltd is engaged in cement manufacturing in north east India. The Company's product range includes cement and clinker. Clinker is sold in home market in addition to exported to Nepal and Bhutan. Cement supplying includes Star Cement Portland Pozzolana Cement (PPC), Star Cement Portland slag cement (PSC), Star Anti Rust Cement (ARC) and Star Cement ordinary Portland cement (OPC). Star Cement PPC is type of blended cement, that's produced by either inter-grinding of OPC clinker along side gypsum and pozzolanic materials in sure proporti...Read More

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Star Cement Key Financials

Market Cap ₹8599 Cr.

Stock P/E 50.9

P/B 2.8

Current Price ₹212.8

Book Value ₹ 76.3

Face Value 1

52W High ₹308.1

Dividend Yield 0%

52W Low ₹ 196.7

Star Cement Share Price

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Volume
Price

Star Cement Quarterly Price

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Star Cement Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 585 651 914 751 642 719 1052 912 811 880
Other Income 6 4 8 1 2 3 5 2 3 5
Total Income 591 656 921 752 643 721 1057 914 814 885
Total Expenditure 487 503 734 635 546 615 789 684 621 678
Operating Profit 104 153 188 118 97 107 268 230 194 207
Interest 3 3 4 6 7 10 9 10 11 12
Depreciation 36 37 42 73 83 89 87 85 90 91
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 -6
Profit Before Tax 65 113 141 39 8 8 171 135 92 99
Provision for Tax 24 40 53 8 2 -1 48 36 21 24
Profit After Tax 41 74 88 31 6 9 123 98 71 74
Adjustments 0 0 0 0 0 0 0 0 1 1
Profit After Adjustments 41 74 88 31 6 9 123 98 72 75
Adjusted Earnings Per Share 1 1.8 2.2 0.8 0.1 0.2 3 2.4 1.8 1.9

Star Cement Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 1430 1715 1528 1615 1831 1843 1720 2222 2705 2911 3163 3655
Other Income 1 1 3 4 5 30 28 33 52 26 11 15
Total Income 1431 1716 1530 1619 1837 1873 1748 2255 2757 2937 3174 3670
Total Expenditure 994 1316 1120 1093 1382 1449 1387 1877 2236 2354 2585 2772
Operating Profit 437 401 411 526 455 424 361 379 520 583 589 899
Interest 87 83 78 52 14 9 7 13 10 13 32 42
Depreciation 224 171 118 121 106 93 90 122 131 147 332 353
Exceptional Income / Expenses 0 -1 0 0 0 0 -65 0 0 0 0 -6
Profit Before Tax 126 145 215 353 335 322 199 244 380 424 226 497
Provision for Tax 5 6 14 16 30 34 12 -3 132 128 57 129
Profit After Tax 121 139 201 336 305 287 187 247 248 295 169 366
Adjustments -3 -5 -6 -6 -6 -2 0 0 0 0 0 2
Profit After Adjustments 119 134 195 331 299 286 187 247 248 295 169 368
Adjusted Earnings Per Share 2.8 3.2 4.6 7.9 7.1 6.9 4.5 6.1 6.1 7.3 4.2 9.1

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 9% 12% 11% 8%
Operating Profit CAGR 1% 16% 7% 3%
PAT CAGR -43% -12% -10% 3%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 5% 23% 17% NA%
ROE Average 6% 9% 10% 14%
ROCE Average 8% 14% 13% 15%

Star Cement Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 921 1055 1146 1476 1724 1857 2074 2168 2416 2710 2879
Minority's Interest 48 53 57 62 68 70 0 0 0 0 -0
Borrowings 502 384 372 199 2 1 0 0 0 72 293
Other Non-Current Liabilities 95 108 32 -57 -79 -110 -107 -89 -269 -200 -204
Total Current Liabilities 624 866 787 755 544 304 368 426 695 780 896
Total Liabilities 2190 2466 2392 2436 2258 2122 2336 2506 2842 3362 3864
Fixed Assets 1028 919 863 785 722 696 823 923 891 1416 2421
Other Non-Current Assets 440 496 153 158 232 366 262 591 954 1181 409
Total Current Assets 722 1051 1376 1493 1304 1059 1252 992 997 766 1035
Total Assets 2190 2466 2392 2436 2258 2122 2336 2506 2842 3362 3864

Star Cement Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 9 20 24 16 19 95 42 55 8 122 48
Cash Flow from Operating Activities 262 97 300 421 616 483 350 417 358 490 296
Cash Flow from Investing Activities -41 -79 -89 -25 -193 -136 -333 -289 -255 -650 -529
Cash Flow from Financing Activities -210 -14 -218 -393 -348 -201 -3 -176 10 86 224
Net Cash Inflow / Outflow 11 4 -7 2 76 146 14 -47 114 -74 -8
Closing Cash & Cash Equivalent 20 24 16 19 95 241 55 8 122 48 40

Star Cement Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 2.83 3.2 4.65 7.89 7.13 6.92 4.54 6.11 6.13 7.3 4.18
CEPS(Rs) 8.23 7.41 7.61 10.9 9.79 9.22 6.72 9.11 9.37 10.93 12.39
DPS(Rs) 0.8 0 0 1 0 1 0 0 0 0 0
Book NAV/Share(Rs) 21.98 25.17 27.34 35.22 41.12 45.03 50.29 53.65 59.78 67.05 71.24
Core EBITDA Margin(%) 29.63 22.65 26.3 32 24.53 19.79 17.86 14.25 15.82 17.25 16.4
EBIT Margin(%) 14.49 12.97 18.87 24.86 19.06 16.61 11.07 10.61 13.15 13.53 7.29
Pre Tax Margin(%) 8.56 8.24 13.84 21.64 18.27 16.14 10.7 10.06 12.82 13.14 6.4
PAT Margin (%) 8.24 7.9 12.95 20.64 16.66 14.42 10.05 10.18 8.36 9.15 4.79
Cash Profit Margin (%) 23.42 17.63 20.54 28.04 22.43 19.09 14.88 15.2 12.79 13.7 14.19
ROA(%) 5.64 5.99 8.27 13.93 12.99 13.12 8.4 10.19 9.26 9.51 4.67
ROE(%) 13.75 14.1 18.25 25.64 19.06 16.05 9.52 11.63 10.8 11.51 6.04
ROCE(%) 11.83 12.04 14.86 21.01 18.83 18.04 10.42 12.06 16.87 16.51 8.42
Receivable days 53.87 78.51 68.98 31.84 28.93 24.36 24.88 19.62 14.39 14.46 18.12
Inventory Days 32.78 32.94 43.56 51.06 56.99 48.92 48.16 32.38 35.1 40.13 40.42
Payable days 119.36 114.25 125.13 170.59 131.36 100.45 87.92 99.37 271.93 195.49 161.03
PER(x) 0 0 0 14.66 13.86 9.86 21.39 14.68 18.25 30.99 51.42
Price/Book(x) 0 0 0 3.28 2.4 1.52 1.93 1.67 1.87 3.37 3.02
Dividend Yield(%) 0 0 0 0.87 0 1.46 0 0 0 0 0
EV/Net Sales(x) 0.63 0.56 0.54 3.26 2.19 1.38 2.06 1.46 1.57 3.15 2.85
EV/Core EBITDA(x) 2.06 2.39 2 10 8.8 6.01 9.83 8.56 8.13 15.75 15.32
Net Sales Growth(%) 39.15 19.9 -10.92 5.68 13.41 0.66 -6.69 29.18 21.74 7.61 8.68
EBIT Growth(%) 171.47 7.1 28.07 38.31 -13.84 -5.2 -37.66 24.6 51.51 12.02 -41.01
PAT Growth(%) 3609.18 14.85 44.17 67.34 -9.28 -5.79 -34.87 31.87 0.34 19.19 -42.79
EPS Growth(%) 2925.9 12.97 45.27 69.8 -9.64 -2.85 -34.47 34.56 0.34 19.19 -42.73
Debt/Equity(x) 0.96 0.89 0.7 0.29 0.04 0.01 0.01 0 0.01 0.05 0.14
Current Ratio(x) 1.16 1.21 1.75 1.98 2.4 3.49 3.4 2.33 1.44 0.98 1.15
Quick Ratio(x) 0.98 0.97 1.54 1.59 1.89 2.64 2.76 1.87 0.9 0.55 0.66
Interest Cover(x) 2.44 2.74 3.75 7.72 24.27 35.43 29.51 19.26 40.16 34.61 8.14
Total Debt/Mcap(x) 0 0 0 0.09 0.02 0 0 0 0.01 0.01 0.04

Star Cement Shareholding Pattern

# Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Promoter 66.55 66.48 66.59 66.49 66.47 57.69 57.66 57.66 57.59 57.62
FII 0.77 1.05 1.52 1.6 1.36 1.19 2.02 2.24 2.96 2.47
DII 6.09 6.02 6.11 5.03 4.96 4.95 5.16 4.91 4.37 4.47
Public 26.59 26.45 25.78 26.88 27.22 36.17 35.16 35.19 35.08 35.44
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Star Cement News

Star Cement Pros & Cons

Pros

  • Debtor days have improved from 195.49 to 161.03days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 9% over the last 3 years.
  • The company has delivered a poor profit growth of -10% over past five years.
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