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The Ramco Cements Overview

Ramco Cements Ltd is an India-based business enterprise, that's a cement manufacturer. The Company's products include Drymix products, Ramco concrete, Portland cement. It consists of 5 cement plants, 5 grinding plants,1 packaging plant, 1ready mix concrete plant ,1 dry mortar plant, and wind farm ability 125.95 megawatt.

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The Ramco Cements Key Financials

Market Cap ₹27611 Cr.

Stock P/E 103

P/B 3.5

Current Price ₹1168.5

Book Value ₹ 336.3

Face Value 1

52W High ₹1214

Dividend Yield 0.17%

52W Low ₹ 788.8

The Ramco Cements Share Price

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Volume
Price

The Ramco Cements Quarterly Price

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The Ramco Cements Peer Comparison

The Ramco Cements 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 2341 2111 2678 2094 2044 1983 2397 2074 2239 2106
Other Income 12 7 14 8 10 11 12 6 7 17
Total Income 2352 2117 2692 2102 2054 1994 2410 2080 2245 2123
Total Expenditure 1935 1714 2259 1773 1730 1704 2078 1676 1851 1826
Operating Profit 417 403 433 328 324 290 332 404 395 297
Interest 117 102 104 113 120 113 113 105 111 108
Depreciation 163 180 154 168 170 175 183 184 183 185
Exceptional Income / Expenses 0 0 0 0 0 189 11 0 0 479
Profit Before Tax 138 121 175 48 34 191 46 115 100 483
Provision for Tax 37 37 45 13 9 8 21 30 24 98
Profit After Tax 101 84 130 35 25 183 25 84 76 385
Adjustments -29 0 -1 2 0 -1 3 1 2 0
Profit After Adjustments 72 84 129 37 26 182 27 85 77 386
Adjusted Earnings Per Share 3 3.6 5.5 1.6 1.1 7.7 1.2 3.6 3.3 16.3

The Ramco Cements 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 3655 3582 3967 4425 5162 5389 5291 6004 8157 9376 8518 8816
Other Income 85 75 40 33 25 34 30 28 33 39 41 42
Total Income 3740 3657 4007 4458 5187 5423 5321 6032 8190 9415 8560 8858
Total Expenditure 2935 2505 2759 3312 4117 4241 3733 4713 6971 7811 7284 7431
Operating Profit 806 1152 1248 1146 1071 1182 1588 1319 1219 1604 1275 1428
Interest 196 184 105 61 53 73 88 113 241 416 460 437
Depreciation 251 305 286 294 300 317 357 402 506 646 695 735
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 199 490
Profit Before Tax 358 663 857 792 718 792 1144 803 472 542 319 744
Provision for Tax 115 132 203 231 211 188 380 -89 130 148 51 173
Profit After Tax 244 531 654 561 507 604 764 893 342 394 268 570
Adjustments 2 14 9 4 3 -0 20 -11 -27 -34 5 6
Profit After Adjustments 246 545 663 564 511 604 784 881 315 360 273 575
Adjusted Earnings Per Share 10.3 22.9 27.8 23.9 21.7 25.6 33.2 37.3 13.3 15.2 11.5 24.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -9% 12% 10% 9%
Operating Profit CAGR -21% -1% 2% 5%
PAT CAGR -32% -33% -15% 1%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 31% 17% 5% 12%
ROE Average 4% 5% 9% 12%
ROCE Average 6% 7% 9% 12%

The Ramco Cements 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 2626 3133 3795 4113 4537 5001 5732 6619 6861 7238 7442
Minority's Interest 1 1 2 4 5 6 6 7 7 4 0
Borrowings 1727 1059 511 419 701 1832 2163 2857 3622 3927 3379
Other Non-Current Liabilities 1224 718 737 810 893 957 1135 892 1014 1129 1195
Total Current Liabilities 1429 2033 2025 2030 2256 2336 2872 2938 3111 4016 4334
Total Liabilities 7006 6944 7071 7375 8392 10132 11907 13312 14615 16314 16350
Fixed Assets 4882 5026 5065 5179 5238 5902 6833 7642 10066 11926 12140
Other Non-Current Assets 1005 584 584 691 1585 2654 3162 3808 2640 2094 1951
Total Current Assets 1119 1334 1422 1505 1569 1576 1911 1862 1910 2294 2259
Total Assets 7006 6944 7071 7375 8392 10132 11907 13312 14615 16314 16350

The Ramco Cements 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 40 -63 -184 -11 -170 73 94 144 178 138 97
Cash Flow from Operating Activities 932 1089 1117 1124 793 748 1892 1135 1412 1898 1399
Cash Flow from Investing Activities -477 -261 -280 -490 -1202 -1921 -1779 -1816 -1694 -1911 -542
Cash Flow from Financing Activities -436 -950 -665 -793 653 1194 -64 715 274 -28 -782
Net Cash Inflow / Outflow 18 -122 172 -159 243 21 50 35 -8 -41 75
Closing Cash & Cash Equivalent 58 -184 -12 -170 73 94 144 178 170 97 172

The Ramco Cements 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) 10.34 22.9 27.83 23.95 21.68 25.64 33.22 37.3 13.31 15.23 11.54
CEPS(Rs) 20.79 35.13 39.48 36.26 34.27 39.09 47.48 54.81 35.89 44.01 40.76
DPS(Rs) 1.5 3 3 3 3 2.5 3 3 2 2.5 2
Book NAV/Share(Rs) 110.27 131.59 159.41 174.56 192.57 211.37 242.11 280.09 290.35 306.3 314.92
Core EBITDA Margin(%) 17.19 26.02 26.37 17.27 13.97 14.53 20.67 14.27 10.08 11.29 9.83
EBIT Margin(%) 13.22 20.47 21 13.22 10.3 10.95 16.34 10.13 6.06 6.91 6.21
Pre Tax Margin(%) 8.55 16.01 18.7 12.28 9.6 10.02 15.17 8.89 4.01 3.91 2.54
PAT Margin (%) 5.81 12.83 14.28 8.69 6.78 7.65 10.13 9.87 2.91 2.84 2.14
Cash Profit Margin (%) 11.81 20.21 20.52 13.25 10.79 11.65 14.86 14.32 7.21 7.5 7.68
ROA(%) 3.52 7.62 9.34 7.76 6.44 6.53 6.93 7.08 2.45 2.54 1.64
ROE(%) 9.59 18.45 18.88 14.18 11.73 12.7 14.28 14.48 5.07 5.58 3.65
ROCE(%) 10.33 15.93 18.32 16.29 13.51 12.19 14.61 9.46 6.51 8.15 6.43
Receivable days 29.78 37.58 40.91 28.25 22.75 23.49 21.88 14.67 12.65 17.38 23.06
Inventory Days 52.55 47.25 44.88 32.21 27.37 27.89 30.18 28.94 26.65 24.57 29.08
Payable days 108.74 137.73 128.23 128.23 114.88 127.01 150.75 176.79 154.49 174.2 204.85
PER(x) 29.45 17.49 24.05 30.63 33.97 20.06 30.2 20.62 56.77 53.22 77.85
Price/Book(x) 2.76 3.04 4.2 4.2 3.82 2.43 4.14 2.75 2.6 2.65 2.85
Dividend Yield(%) 0.49 0.75 0.45 0.41 0.41 0.49 0.3 0.39 0.26 0.31 0.22
EV/Net Sales(x) 2.71 3.23 4.35 4.13 3.66 2.79 5.03 3.65 2.72 2.55 3.01
EV/Core EBITDA(x) 12.31 10.05 13.83 15.95 17.64 12.73 16.76 16.63 18.19 14.92 20.13
Net Sales Growth(%) -0.76 -2.01 10.76 11.54 16.66 4.4 -1.82 13.47 35.87 14.94 -9.15
EBIT Growth(%) 73.24 52.84 13.59 -11.41 -9.61 12.33 42.28 -25.59 -22.17 34.29 -18.61
PAT Growth(%) 112.88 118 23.14 -14.32 -9.47 19.1 26.34 16.93 -61.7 15.07 -31.86
EPS Growth(%) 114.78 121.52 21.55 -13.97 -9.48 18.29 29.55 12.29 -64.32 14.44 -24.25
Debt/Equity(x) 1.04 0.68 0.38 0.27 0.36 0.61 0.54 0.59 0.65 0.68 0.63
Current Ratio(x) 0.78 0.66 0.7 0.74 0.7 0.67 0.67 0.63 0.61 0.57 0.52
Quick Ratio(x) 0.42 0.4 0.43 0.48 0.47 0.4 0.47 0.35 0.33 0.33 0.29
Interest Cover(x) 2.83 4.6 9.13 14.02 14.67 11.79 13.98 8.11 2.96 2.3 1.69
Total Debt/Mcap(x) 0.38 0.22 0.09 0.06 0.09 0.25 0.13 0.22 0.25 0.26 0.22

The Ramco Cements Shareholding Pattern

# Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Promoter 42.11 42.11 42.29 42.29 42.29 42.75 42.56 42.56 42.56 42.56
FII 7.85 7.94 7.43 7.38 6.61 6.88 7.29 8.43 8.15 7.98
DII 36.75 36.31 35.62 34.52 34.24 34.28 33.53 31.25 31.87 31.53
Public 13.29 13.63 14.66 15.81 16.85 16.09 16.63 17.77 17.43 17.94
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

The Ramco Cements News

The Ramco Cements Pros & Cons

Pros

  • Company has reduced debt.

Cons

  • Promoter holding is low: 42.56%.
  • Company has a low return on equity of 5% over the last 3 years.
  • Debtor days have increased from 174.2 to 204.85days.
  • Stock is trading at 3.5 times its book value.
  • The company has delivered a poor profit growth of -14% over past five years.
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