MarketFriction

Niraj Cement Structurals Ltd

NSE NIRAJ · BSE 532986 · Civil Construction
₹27.74 +0.29%
NSE close2026-10-01
52 week range20.15 - 49.00
Market cap₹166 Cr.
P/E6.77
Price band 20% Delivery 92.2%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales110.98126.18133.9982.39138.02119.70166.6194.44171.62139.75134.63104.30
Expenses108.82122.74125.6882.09132.64117.29158.3695.32161.63133.00130.87102.78
Operating Profit2.163.448.310.305.382.418.25-0.889.996.753.761.52
OPM %1.95%2.73%6.20%0.36%3.90%2.01%4.95%-0.93%5.82%4.83%2.79%1.46%
Other Income-0.34-1.661.731.290.491.113.292.882.293.106.547.07
Interest0.030.020.020.020.020.020.020.040.060.912.012.64
Depreciation0.630.430.250.510.560.530.610.570.630.580.630.49
Profit before tax1.161.339.771.065.292.9710.911.3911.598.367.665.46
Tax %26.72%26.32%23.54%23.58%23.44%25.25%25.30%21.58%20.79%26.91%31.72%25.64%
Net Profit0.850.997.470.814.052.228.141.109.186.105.234.06
EPS in Rs0.210.251.860.201.010.511.360.181.541.020.880.68
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales106108108109124175356605470507540550
Expenses102105109108118174351596454490521528
Operating Profit43-22515916162022
OPM %4.0%2.4%-1.6%1.4%4.2%0.5%1.4%1.5%3.5%3.2%3.6%4.0%
Other Income1181-13-0-1-161519
Interest311000000036
Depreciation221121112222
Profit before tax1141223614202933
Tax %34%22%75%-7%19%33%24%37%24%25%26%
Net Profit1111212410152225
EPS in Rs0.610.680.710.660.840.330.621.002.562.553.624.12
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth18%25%-4%6%
Compounded Profit Growth42%62%46%59%
Stock Price CAGR10%-7%-8%-38%
Return on Equity4%7%9%8%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital111112152222434343406060
Reserves126127142140135154134136133113184207
Borrowings951061335720193013260168
Other Liabilities45466947413570120112103140125
Total Liabilities277290355258218230277313314256384460
Fixed Assets222017161311108791212
CWIP000000000000
Investments111000141414152314
Other Assets254268337243205219253290293231349434
Total Assets277290355258218230277313314256384460
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity16-8-59509-18-539-3028-83-86
Cash from Investing Activity-2121259-9-1115-6-1920
Cash from Financing Activity-14863-55-36189-175-2610464
Net Cash Flow-006-5-19-510-11-42-1
Free Cash Flow16-8-575010-18-539-3024-87-88
CFO/OP97%-184%-2,242%-2,980%611%-339%-508%768%-345%191%-477%-398%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days2692185073192891881387962444948
Inventory Days
Days Payable
Cash Conversion Cycle2692185073192891881387962444948
Working Capital Days332314470400375388254986256100116
ROCE %7%2%1%2%1%2%2%4%6%12%10%11%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters24.26%24.26%24.26%24.26%24.26%22.53%24.89%24.89%24.89%24.89%24.89%24.89%
FIIs0.00%0.00%0.00%0.03%0.12%0.00%0.00%0.00%0.00%0.09%0.09%0.00%
DIIs0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.63%0.63%0.00%0.00%0.13%
Public75.74%75.74%75.75%75.71%75.61%77.47%75.11%74.47%74.47%75.01%75.02%74.98%
No. of Shareholders10,66212,10313,19413,78214,24813,15613,37012,93312,73714,21914,47614,177

Fundamentals

Market Cap₹ 166 Cr.
Current Price₹ 27.9
Stock P/E6.77
Book Value₹ 44.7
ROCE11.0 %
ROE8.35 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)6%
Compounded Profit Growth (TTM)59%
Standalone figures.
Valuation
Market capRs 166 Cr
Enterprise valueRs 204 Cr
P/E (TTM)6.74x
Price to book0.62x
Price to sales0.30x
EV / EBITDA4.96x
EV / EBIT5.26x
EV / sales0.37x
Earnings yield14.84%
P/E, 3-year average13.82x
P/B, 3-year average0.92x
P/E, 5-year average23.78x
P/B, 5-year average0.81x
Profitability
Operating margin (excl. other income)3.64%
Operating margin (incl. other income)6.37%
EBITDA margin7.45%
Pre-tax margin6.01%
Net profit margin4.46%
Net margin, latest quarter3.89%
ROE8.46%
ROCE11.05%
ROA5.12%
ROE, 3-year average7.46%
ROCE, 3-year average9.69%
ROA, 3-year average4.49%
ROE, 5-year average5.21%
ROCE, 5-year average6.85%
ROA, 5-year average3.12%
ROIC (approx.)9.45%
Tax rate25.53%
Other income / net worth5.52%
Growth
Sales growth (latest year)6.65%
Profit growth (latest year)41.92%
Sales CAGR, 3 years-3.71%
Sales CAGR, 5 years25.33%
Profit CAGR, 3 years75.15%
Profit CAGR, 5 years74.89%
Sales growth QoQ-22.53%
Profit growth QoQ-22.37%
Sales growth YoY (latest quarter)10.44%
Profit growth YoY (latest quarter)269.09%
Per share
EPS (TTM)Rs 4.12
EPS (latest year)Rs 3.62
EPS (latest quarter)Rs 0.68
EPS, 3-year averageRs 2.91
EPS, 5-year averageRs 2.06
Book value per shareRs 44.71
Sales per shareRs 92.19
Cash flow per shareRs -14.35
Free cash flow per shareRs -14.74
Efficiency
Asset turnover1.18x
Fixed asset turnover46.03x
Inventory turnover96.10x
Inventory days4 days
Debtor days48 days
Debtors turnover7.64x
Cash conversion cycle48 days
Working capital days116 days
Leverage
Total debtRs 68 Cr
Cash and bankRs 30 Cr
Net debtRs 38 Cr
Debt to equity0.25x
Net debt / EBITDA0.92x
Interest coverage6.88x
Owners' fund to total sources58.04%
Debt to assets14.80%
Cash flow
Cash from Operating Activity (latest year)Rs -86 Cr
Cash from Investing Activity (latest year)Rs 20 Cr
Cash from Financing Activity (latest year)Rs 64 Cr
Net Cash Flow (latest year)Rs -1 Cr
Free cash flow (latest year)Rs -88 Cr
FCFE (approx.: FCF + change in debt)Rs -21 Cr
Cash from ops / profit, 5 years-2.49x
Statement figures
Net sales (TTM)Rs 550 Cr
Net sales (latest year)Rs 540 Cr
Sales (latest quarter)Rs 104 Cr
Operating profit excl. other income (latest year)Rs 20 Cr
Operating profit (latest quarter)Rs 2 Cr
Other income (TTM)Rs 19 Cr
EBITDA (TTM)Rs 41 Cr
PBDT (TTM)Rs 35 Cr
Profit before tax (TTM)Rs 33 Cr
Tax (latest year)Rs 7 Cr
Net profit (TTM)Rs 25 Cr
Net profit (latest year)Rs 22 Cr
Net profit (latest quarter)Rs 4 Cr
Depreciation (TTM)Rs 2 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 6 Cr
Cost of goods sold (latest year)Rs 513 Cr
Total expenditure (latest year)Rs 521 Cr
Total income (latest year)Rs 555 Cr
Share capitalRs 60 Cr
ReservesRs 207 Cr
Shareholders' fundsRs 267 Cr
Total assetsRs 460 Cr
Net blockRs 12 Cr
InvestmentsRs 14 Cr
ReceivablesRs 71 Cr
InventoryRs 5 Cr
Other liabilitiesRs 125 Cr
Shares outstanding (crore)5.97
Ownership
Promoter holding24.89% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 6.7 is at the 2th percentile of its own 9.4-year range (median 72.5, low 5.0, high 303.3).
P/B 0.62 is at the 8th percentile (median 1.12).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodNIRAJNifty 50Difference
1 week-4.8%-2.8% -2.0 pts
1 month-5.2%-6.8% +1.6 pts
3 months-7.3%-7.6% +0.3 pts
6 months+33.8%+0.4% +33.4 pts
1 year-39.4%-9.9% -29.4 pts
2 years-58.1%-13.6% -44.6 pts
3 years-23.2%+14.2% -37.3 pts
5 years-26.7%+27.9% -54.6 pts

Red flags

F-score 4 of 8
explainWeak cash conversion Cash from operations was -299% of net profit over the last 3 years
explainHigh accruals Profit exceeded operating cash by 23% of total assets in 2026
lookProfit leans on other income Other income was 51% of pre-tax profit in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹104 Cr +10.4% vs Jun 2025. Net profit ₹4 Cr +269.1%.
Against our estimate for Jun 2026: sales +11.8%, profit +5.5% in line. Our estimate for Sep 2026: sales Rs 164 Cr, profit Rs 7 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-09-17Annual General Meeting
2023-09-15Annual General Meeting
2022-09-21Annual General Meeting
2021-09-22 Annual General Meeting
DateTypeWhat it says
2026-09-28Shareholder meetingVoting results.
2026-09-28Shareholder meetingProceedings of Annual General Meeting held on September 28, 2026
2026-09-05Revised Record dateThe Record date has been revised to 21-Sep-2026 for the purpose of MT.
2026-09-04Shareholder meetingNotice of Annual General Meeting to be held on September 28, 2026
2026-08-21General UpdatesGeneral Updates
2026-08-20Public Announcement-Open OffNavigant Corporate Advisors Limited has Submitted to the Exchange a copy of post offer advertisement in terms of Regulation 18(12) of SEBI SAST (Regul...
2026-08-14Record DateRecord date for the purpose of MT is 20-Sep-2026.
2026-08-14Board meeting outcomeNiraj Cement Structurals Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-05Order winBagging/Receiving of orders/contracts
2026-07-30UpdatesUpdate on Open Offer.
2026-07-30UpdatesNavigant Corporate Advisors Ltd  has submitted to  the Exchange a copy of offer opening public announcement to the shareholders of the company.
2026-07-29UpdatesIntimation of Recommendations of the Committee of Independent Directors ( IDC ) on the open offer to the shareholders of Niraj Cement Structurals Limi...
2026-07-29UpdatesNavigant Corporate Advisors Ltd  has submitted to  the Exchange a copy of Recommendation of the committee of Independent Directors ( IDC) on the open ...
2026-07-28Committee Meeting UpdatesOutcome of Committee Meeting held on July 28, 2026.
2026-07-20CorrigendumNavigant Corporate Advisors Limited has Submitted to the Exchange a copy of corrigendum to the detailed public statement in terms of SEBI SAST (Regula...
2026-07-20UpdatesNavigant Corporate Advisors Limited has Submitted to the Exchange a copy of Letter of Offer.
2026-07-01Shareholder meetingVoting results.
2026-06-23UpdatesNavigant Corporate Advisors Ltd has submitted to  the Exchange a copy of Detailed public statement for the attention of the equity shareholders of the...
2026-06-22Disclosure under SEBI TakeovNiraj Cement Structurals Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of Ind...
2026-06-16Public Announcement-Open OffNavigant Coporate Advisors Ltd has submitted to  the Exchange a copy of PUBLIC ANNOUNCEMENT UNDER REGULATION 3(1) READ WITH REGULATION 13 AND REGULATI...
2026-06-12Credit RatingCredit Rating
2026-05-29Shareholder meetingNotice of Postal Ballot
2026-05-21UpdatesAnnouncement under Regulation 30 .
2026-05-21Board meeting outcomeNiraj Cement Structurals Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-18Disclosure under SEBI TakeovNiraj Cement Structurals Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of Ind...
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Less than 100 unique PAN traded in previous 30 days

Quick answers

What is the market cap of Niraj Cement Structurals Ltd?

Niraj Cement Structurals Ltd (NIRAJ) has a market capitalisation of Rs 166 Cr. at the 2026-10-01 close.

What is the P/E ratio of Niraj Cement Structurals Ltd?

Niraj Cement Structurals Ltd trades at a P/E of 6.77 on trailing twelve-month profit, at the 2026-10-01 close.

What were Niraj Cement Structurals Ltd's latest quarterly results?

In the Jun 2026 quarter, Niraj Cement Structurals Ltd sales was Rs 104 Cr (+10.4% vs Jun 2025) and net profit was Rs 4 Cr.

What is the 52-week high and low of Niraj Cement Structurals Ltd?

The 52-week high is Rs 49.00 and the 52-week low is Rs 20.15.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03