MarketFriction

Saurashtra Cement Ltd

NSE SAURASHCEM · BSE 502175 · Cement & Cement Products
₹53.37 -2.13%
NSE close2026-10-01
52 week range47.65 - 112.25
Market cap₹601 Cr.
P/E37.5
Price band 20% Delivery 58.8%

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

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales374.86446.69497.49385.80296.28377.50478.05423.57385.64410.19446.65456.75
Expenses364.30403.55452.51362.68336.11369.71425.31388.76395.37409.25420.18436.03
Operating Profit10.5643.1444.9823.12-39.837.7952.7434.81-9.730.9426.4720.72
OPM %2.82%9.66%9.04%5.99%-13.44%2.06%11.03%8.22%-2.52%0.23%5.93%4.54%
Other Income2.64-11.2424.655.144.383.2713.375.094.77-1.930.565.26
Interest2.361.932.093.234.463.792.142.622.163.222.172.95
Depreciation10.1410.0817.0410.2910.3410.5511.1010.6810.4211.0012.1211.07
Profit before tax0.7019.8950.5014.74-50.25-3.2852.8726.60-17.54-15.2112.7411.96
Tax %-4.29%36.80%38.46%33.18%-37.45%32.93%37.73%36.62%-37.40%-32.35%-47.80%23.66%
Net Profit0.7312.5731.089.86-31.43-4.3632.9116.85-10.98-10.2918.839.13
EPS in Rs0.071.132.800.89-2.83-0.392.961.51-0.99-0.921.690.82
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales5304705746226086741,4511,6451,7651,5381,6661,699
Expenses4664405236174985591,3871,6391,6351,4931,6131,661
Operating Profit6430505110115647130455338
OPM %12%6%9%0.8%18%17%4.4%0.4%7%2.9%3.2%2.3%
Other Income23101711-8121613152589
Interest543554998141010
Depreciation131518182020333947424445
Profit before tax692146-77710237-2990147-8
Tax %36%34%-34%-27%27%29%38%-24%37%50%-119%
Net Profit441462-5577223-22577147
EPS in Rs6.332.019.03-0.718.1310.353.29-3.125.100.631.300.60
Dividend Payout %14%50%11%0%22%17%0%0%39%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth12%20%0%8%
Compounded Profit Growth-5%-21%45%91%
Stock Price CAGR-3%-10%-11%-49%
Return on Equity5%2%3%2%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital51606969697070111111111111111
Reserves178205291346339381453794771817836850
Borrowings191917173231221046685136107
Other Liabilities156129174142157182181388409558520519
Total Liabilities4044135525745976647261,3961,3571,5711,6031,588
Fixed Assets178201317334349351345813831872932908
CWIP534048433738617851313137
Investments15156654800000
Other Assets159157181191206271312505475667641642
Total Assets4044135525745976647261,3961,3571,5711,6031,588
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity787234491563134-8211553036
Cash from Investing Activity18-24-25-37-16-38-121-3032-157-519
Cash from Financing Activity-100-65-7-123-23-1731-49327-37
Net Cash Flow-4-162021-4-7515218
Free Cash Flow9448419-173995-53-1788-548
CFO/OP109%140%146%116%370%70%130%4%378%125%91%81%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days13101112921161517182422
Inventory Days748305848690703524451575615402
Days Payable441174737640569346269448492327
Cash Conversion Cycle32014212262143211941520014614798
Working Capital Days-23-35-46-32-42-27-38-29-23-30-36-29
ROCE %23%24%8%12%-1%21%21%6%-2%12%2%3%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters67.14%67.09%66.95%66.88%66.83%66.78%66.71%66.69%66.69%66.69%66.62%66.62%
FIIs0.00%0.00%0.00%0.01%0.03%0.01%0.04%0.02%0.04%0.20%0.16%0.08%
DIIs0.27%0.37%0.37%0.37%0.36%0.36%0.36%0.12%0.12%0.12%0.12%0.12%
Public32.58%32.55%32.68%32.73%32.78%32.83%32.87%33.15%33.14%32.98%33.10%33.17%
No. of Shareholders59,01053,97952,99055,30153,97553,31552,96052,55250,66149,85449,33549,179

Fundamentals

Market Cap₹ 601 Cr.
Current Price₹ 54.1
Stock P/E37.5
Book Value₹ 86.4
ROCE2.51 %
ROE2.29 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)8%
Compounded Profit Growth (TTM)91%
Consolidated figures.
Valuation
Market capRs 594 Cr
Enterprise valueRs 477 Cr
P/E (TTM)88.78x
Price to book0.62x
Price to sales0.35x
EV / EBITDA10.14x
EV / EBIT194.80x
EV / sales0.28x
Price to cash flow16.29x
Earnings yield1.13%
P/E, 3-year average59.21x
P/B, 3-year average0.90x
P/E, 5-year average48.24x
P/B, 5-year average0.68x
Profitability
Operating margin (excl. other income)3.16%
Operating margin (incl. other income)3.66%
EBITDA margin2.77%
Pre-tax margin-0.47%
Net profit margin0.39%
Net margin, latest quarter2.00%
ROE1.51%
ROCE1.56%
ROA0.90%
ROE, 3-year average2.84%
ROCE, 3-year average4.73%
ROA, 3-year average1.74%
ROE, 5-year average1.86%
ROCE, 5-year average3.63%
ROA, 5-year average1.16%
ROIC (approx.)0.64%
Tax rate-119.15%
Other income / net worth0.87%
Growth
Sales growth (latest year)8.35%
Profit growth (latest year)106.59%
Sales CAGR, 3 years0.42%
Sales CAGR, 5 years19.85%
Profit CAGR, 5 years-27.56%
Sales growth QoQ2.26%
Profit growth QoQ-51.51%
Sales growth YoY (latest quarter)7.83%
Profit growth YoY (latest quarter)-45.82%
Per share
EPS (TTM)Rs 0.60
EPS (latest year)Rs 1.30
EPS (latest quarter)Rs 0.82
EPS, 3-year averageRs 2.34
EPS, 5-year averageRs 1.44
Book value per shareRs 86.41
Sales per shareRs 152.69
Cash flow per shareRs 3.28
Free cash flow per shareRs 0.72
Dividend per share, 3-year averageRs 2.00
Dividend per share, 5-year averageRs 2.00
Dividends
Dividend payout, 3-year average39.22%
Dividend payout, 5-year average39.22%
Efficiency
Asset turnover1.05x
Fixed asset turnover1.83x
Inventory turnover4.04x
Inventory days90 days
Debtor days22 days
Debtors turnover16.46x
Creditor days327 days
Cash conversion cycle98 days
Working capital days-29 days
Leverage
Total debtRs 107 Cr
Cash and bankRs 224 Cr
Net debtRs -117 Cr
Debt to equity0.11x
Net debt / EBITDA-2.48x
Interest coverage0.23x
Owners' fund to total sources60.56%
Debt to assets6.73%
Cash flow
Cash from Operating Activity (latest year)Rs 36 Cr
Cash from Investing Activity (latest year)Rs 19 Cr
Cash from Financing Activity (latest year)Rs -37 Cr
Net Cash Flow (latest year)Rs 18 Cr
Free cash flow (latest year)Rs 8 Cr
FCFE (approx.: FCF + change in debt)Rs -21 Cr
Cash from ops / profit, 5 years2.96x
Sales to cash flow45.71x
Statement figures
Net sales (TTM)Rs 1,699 Cr
Net sales (latest year)Rs 1,666 Cr
Sales (latest quarter)Rs 457 Cr
Operating profit excl. other income (latest year)Rs 53 Cr
Operating profit (latest quarter)Rs 21 Cr
Other income (TTM)Rs 9 Cr
EBITDA (TTM)Rs 47 Cr
PBDT (TTM)Rs 37 Cr
Profit before tax (TTM)Rs -8 Cr
Tax (latest year)Rs -8 Cr
Net profit (TTM)Rs 7 Cr
Net profit (latest year)Rs 14 Cr
Net profit (latest quarter)Rs 9 Cr
Depreciation (TTM)Rs 45 Cr
Depreciation (latest quarter)Rs 11 Cr
Interest (TTM)Rs 10 Cr
Cost of goods sold (latest year)Rs 1,000 Cr
Total expenditure (latest year)Rs 1,613 Cr
Total income (latest year)Rs 1,674 Cr
Share capitalRs 111 Cr
ReservesRs 850 Cr
Shareholders' fundsRs 962 Cr
Total assetsRs 1,588 Cr
Net blockRs 908 Cr
Capital work in progressRs 37 Cr
InvestmentsRs 0 Cr
ReceivablesRs 101 Cr
InventoryRs 248 Cr
Other liabilitiesRs 519 Cr
Shares outstanding (crore)11.13
Ownership
Promoter holding66.62% (-0.07 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 88.8 is at the 89th percentile of its own 7.4-year range (median 23.9, low 6.8, high 199.4).
P/B 0.62 is at the 3th percentile (median 1.15).
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.
PeriodSAURASHCEMNifty 50Difference
1 week+1.2%-2.8% +3.9 pts
1 month-3.9%-6.8% +2.9 pts
3 months-8.2%-7.6% -0.6 pts
6 months+10.7%+0.4% +10.3 pts
1 year-49.3%-9.9% -39.4 pts
2 years-56.8%-13.6% -43.3 pts
3 years-30.7%+14.2% -44.9 pts
5 years-43.1%+27.9% -71.0 pts

Red flags

F-score 8 of 8
explainShare dilution Share count up 0% in a year, 58% in three
lookProfit leans on other income Other income was 127% 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 ₹457 Cr +7.8% vs Jun 2025. Net profit ₹9 Cr -45.8%.
Against our estimate for Jun 2026: sales +6.7%, profit +190.3% in line. Our estimate for Sep 2026: sales Rs 388 Cr, profit Rs -1 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-08-14Dividend - Re 1 Per Share
2024-08-14Annual General Meeting
DateTypeWhat it says
2026-09-29General UpdatesIn compliance with the provisions of Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015, please find enclosed the disclosure/ ...
2026-09-29General UpdatesIn compliance with Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ...
2026-09-29General UpdatesIn compliance with Regulation 29(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ...
2026-09-29LitigationWe would like to inform you that Saurashtra Cement Limited ( the Company ), hasreceived a Show Cause Notice from the Office of the Deputy Commissioner...
2026-09-29Credit RatingCredit Rating
2026-09-28AgreementsPursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015, read with Part B of Schedule III, we hereby ...
2026-09-26LitigationWe would like to inform you that Saurashtra Cement Limited ( the Company ), has received a Show Cause Notice from the Office of the Deputy Commissione...
2026-09-25ResignationResignation of Director/KMP/SMP
2026-09-25ResignationResignation of Director/KMP/SMP
2026-09-25ResignationIn continuation of our earlier intimation No. B/SCL/SE/SS/250/2026-27, the Board ofDirectors, at its meeting held on 6th August 2026, approved the res...
2026-09-24UpdatesIn compliance with the provisions of Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015, please find enclosed the disclosure/ ...
2026-09-24UpdatesDisclosure as per Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015..
2026-09-24UpdatesIn compliance with Regulation 29(2) of the Securities and Exchange Board of India (SubstantialAcquisition of Shares and Takeovers) Regulations, 2011 (...
2026-09-24UpdatesIn compliance with Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ...
2026-09-24UpdatesDisclosure petaining to Regulation 29(1) of SEBI (SAST) Regulations 2011.
2026-09-24General UpdatesIn continuation to our earlier intimation bearing No. B/SCL/SE/SS/261/2026-27 dated 23rd September 2026 regarding submission of voting results pursuan...
2026-09-24Shareholder meetingIn continuation to our earlier intimation bearing No. B/SCL/SE/SS/261/2026-27 dated 23rd September 2026 regarding submission of voting results pursuan...
2026-09-23General UpdatesSub: Voting Results pursuant to Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations )D...
2026-09-23General UpdatesSub: Proceedings of 68th Annual General Meeting held on 23rd September 2026 Ref.: Regulation 30 of SEBI (Listing Obligations and Disclosure Requiremen...
2026-09-23AppointmentAppointment of Mr M. S. Gilotra as Managing Director of the company w.e.f. January 01, 2027.
2026-09-23AppointmentWe hereby inform you that the Members of the Company at the 68th Annual General Meeting ( AGM ) of the Company held on 23rd September 2026 have accord...
2026-09-23Shareholder meetingThe Companys 68th AGM was held on Wednesday, 23rd September 2026, at 4.00 p.m. (IST) through Video Conferencing / Other Audio Visual Means in accordan...
2026-09-23Shareholder meetingIn accordance with Regulation 30 of the Listing Regulations, we enclose herewith the proceedings of the 68th Annual General Meeting ( AGM ) of the Mem...
2026-09-18General UpdatesWith reference to our intimation dated 6th August 2026 (Ref: B/SCL/SE/SS/250/2026-27), Mrs. Jayashree D. Soni was appointed as Company Secretary (CS)...
2026-08-28UpdatesThe 68th Annual General Meeting (AGM) of Saurashtra Cement Limited will be held onWednesday the 23rd September 2026 at 4:00 p.m. (1ST) via two-way Vid...
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.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Saurashtra Cement Ltd?

Saurashtra Cement Ltd (SAURASHCEM) has a market capitalisation of Rs 601 Cr. at the 2026-10-01 close.

What is the P/E ratio of Saurashtra Cement Ltd?

Saurashtra Cement Ltd trades at a P/E of 37.5 on trailing twelve-month profit, at the 2026-10-01 close.

What were Saurashtra Cement Ltd's latest quarterly results?

In the Jun 2026 quarter, Saurashtra Cement Ltd sales was Rs 457 Cr (+7.8% vs Jun 2025) and net profit was Rs 9 Cr.

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

The 52-week high is Rs 112.25 and the 52-week low is Rs 47.65.

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