MarketFriction

Star Cement Ltd

NSE STARCEMENT · BSE 540575 · Cement & Cement Products
₹178.39 -1.96%
NSE close2026-10-01
52 week range175.20 - 273.00
Market cap₹7,198 Cr.
P/E19.0
Price band 20% Delivery 50.4%

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
Sales5856519147516427191,0529128118801,174943
Expenses487503734635546615789684621678858748
Operating Profit9914918011696104263228190202315194
OPM %17%23%20%15%15%14%25%25%23%23%27%21%
Other Income648123523-138
Interest334671091011121314
Depreciation363742738389888590919991
Profit before tax651131413988171135929920798
Tax %38%35%38%21%25%-19%28%27%23%25%29%24%
Net Profit417488316912398717414774
EPS in Rs1.011.822.170.770.140.223.052.441.781.853.661.85
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,7151,5281,6151,8311,8431,7202,2222,7052,9113,1633,7763,807
Expenses1,3161,1191,0931,3821,4491,3871,8772,2362,3532,5852,8412,905
Operating Profit399408521449394333345468557579936902
OPM %23%27%32%25%21%19%16%17%19%18%25%24%
Other Income124529-3633522510814
Interest8378521497131013324650
Depreciation1711181211069390122131147332365372
Profit before tax145215353335322199244380424226532495
Tax %4%6%5%9%11%6%-1%35%30%25%27%
Net Profit139195336305287187247248295169390366
EPS in Rs3.204.647.897.136.924.546.116.137.304.189.739.14
Dividend Payout %0%0%13%0%14%0%0%0%0%0%21%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth8%17%12%15%
Compounded Profit Growth12%10%17%60%
Stock Price CAGR%11%5%-30%
Return on Equity13%11%10%13%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital424242424241414040404040
Reserves8791,0131,1041,4341,6821,8162,0332,1282,3762,6702,8393,151
Borrowings8809408014327413181635147403603
Other Liabilities388471534597499488470561680745825852
Total Liabilities2,1902,4662,4802,5062,2972,3582,5622,7453,1313,6024,1074,647
Fixed Assets1,0289198637857226968239238911,4162,4212,612
CWIP41495536742381271095511,02222095
Investments221122216717322258
Other Assets1,1191,4961,5611,6841,4981,4231,6111,5451,5171,1631,4641,682
Total Assets2,1902,4662,4802,5062,2972,3582,5622,7453,1313,6024,1074,647
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity26297300421616483350417358490296765
Cash from Investing Activity-41-79-89-25-193-136-333-289-255-650-529-843
Cash from Financing Activity-210-14-218-393-348-201-3-176108622452
Net Cash Flow114-727614614-47114-74-8-27
Free Cash Flow21816211388536256243220-211-546-279278
CFO/OP65%31%80%93%150%135%114%131%91%102%63%93%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days799633332924282114192323
Inventory Days174221173356232233212124400255314343
Days Payable1221481012281058789135297166164189
Cash Conversion Cycle13016810516115617115110117107173177
Working Capital Days2034136162109938730-1-141015
ROCE %12%12%14%20%18%17%13%12%17%16%8%17%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters66.55%66.48%66.59%66.49%66.47%57.69%57.67%57.66%57.59%57.62%58.12%58.10%
FIIs0.77%1.05%1.52%1.61%1.36%1.20%2.02%2.24%2.96%2.47%2.26%2.29%
DIIs6.08%6.02%6.11%5.03%4.96%4.95%5.17%4.93%4.38%4.48%2.65%2.38%
Public26.59%26.43%25.77%26.89%27.20%36.17%35.15%35.17%35.07%35.42%36.96%37.23%
No. of Shareholders52,00154,13056,63665,41565,62770,80465,09164,01161,66061,16762,72062,529

Fundamentals

Market Cap₹ 7,198 Cr.
Current Price₹ 178
Stock P/E19.0
Book Value₹ 79.0
ROCE16.6 %
ROE13.2 %
Dividend Yield1.12 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)15%
Compounded Profit Growth (TTM)60%
Consolidated figures.
Valuation
Market capRs 7,210 Cr
Enterprise valueRs 7,689 Cr
P/E (TTM)19.50x
Price to book2.26x
Price to sales1.89x
EV / EBITDA8.39x
EV / EBIT14.11x
EV / sales2.02x
Price to cash flow9.43x
Earnings yield5.13%
Dividend yield1.12%
P/E, 3-year average34.49x
P/B, 3-year average3.00x
P/E, 5-year average27.28x
P/B, 5-year average2.51x
Profitability
Operating margin (excl. other income)24.78%
Operating margin (incl. other income)24.99%
EBITDA margin24.07%
Pre-tax margin13.01%
Net profit margin9.71%
Net margin, latest quarter7.92%
ROE12.96%
ROCE16.35%
ROA8.99%
ROE, 3-year average10.17%
ROCE, 3-year average13.72%
ROA, 3-year average7.38%
ROE, 5-year average10.59%
ROCE, 5-year average14.00%
ROA, 5-year average7.97%
ROIC (approx.)10.89%
Tax rate26.65%
Other income / net worth0.25%
Growth
Sales growth (latest year)19.38%
Profit growth (latest year)132.79%
Sales CAGR, 3 years11.77%
Sales CAGR, 5 years17.03%
Profit CAGR, 3 years16.69%
Profit CAGR, 5 years16.02%
Sales growth QoQ-19.65%
Profit growth QoQ-49.55%
Sales growth YoY (latest quarter)3.39%
Profit growth YoY (latest quarter)-24.10%
Per share
EPS (TTM)Rs 9.15
EPS (latest year)Rs 9.73
EPS (latest quarter)Rs 1.85
EPS, 3-year averageRs 7.07
EPS, 5-year averageRs 6.69
Book value per shareRs 78.95
Sales per shareRs 94.20
Cash flow per shareRs 18.92
Free cash flow per shareRs 6.88
Dividend per share (latest year)Rs 2.00
Dividend per share, 3-year averageRs 2.00
Dividend per share, 5-year averageRs 2.00
Dividends
Dividend payout20.55%
Dividend payout, 3-year average20.55%
Dividend payout, 5-year average20.55%
Efficiency
Asset turnover0.81x
Fixed asset turnover1.45x
Inventory turnover2.74x
Inventory days133 days
Debtor days23 days
Debtors turnover15.63x
Creditor days189 days
Cash conversion cycle177 days
Working capital days15 days
Leverage
Total debtRs 603 Cr
Cash and bankRs 125 Cr
Net debtRs 479 Cr
Debt to equity0.19x
Net debt / EBITDA0.52x
Interest coverage10.93x
Current ratio (filing 2026-03-31)1.31x
Quick ratio (filing 2026-03-31)0.80x
Trade payables (filing 2026-03-31)Rs 257 Cr
Owners' fund to total sources68.67%
Debt to assets12.98%
Cash flow
Cash from Operating Activity (latest year)Rs 765 Cr
Cash from Investing Activity (latest year)Rs -843 Cr
Cash from Financing Activity (latest year)Rs 52 Cr
Net Cash Flow (latest year)Rs -27 Cr
Free cash flow (latest year)Rs 278 Cr
FCFE (approx.: FCF + change in debt)Rs 479 Cr
Cash from ops / profit, 5 years1.72x
Sales to cash flow4.94x
Statement figures
Net sales (TTM)Rs 3,807 Cr
Net sales (latest year)Rs 3,776 Cr
Sales (latest quarter)Rs 943 Cr
Operating profit excl. other income (latest year)Rs 936 Cr
Operating profit (latest quarter)Rs 194 Cr
Other income (TTM)Rs 14 Cr
EBITDA (TTM)Rs 917 Cr
PBDT (TTM)Rs 867 Cr
Profit before tax (TTM)Rs 495 Cr
Tax (latest year)Rs 142 Cr
Net profit (TTM)Rs 370 Cr
Net profit (latest year)Rs 393 Cr
Net profit (latest quarter)Rs 75 Cr
Depreciation (TTM)Rs 372 Cr
Depreciation (latest quarter)Rs 91 Cr
Interest (TTM)Rs 50 Cr
Cost of goods sold (latest year)Rs 1,276 Cr
Total expenditure (latest year)Rs 2,841 Cr
Total income (latest year)Rs 3,784 Cr
Share capitalRs 40 Cr
ReservesRs 3,151 Cr
Shareholders' fundsRs 3,191 Cr
Total assetsRs 4,647 Cr
Net blockRs 2,612 Cr
Capital work in progressRs 95 Cr
InvestmentsRs 258 Cr
ReceivablesRs 242 Cr
InventoryRs 466 Cr
Other liabilitiesRs 852 Cr
Shares outstanding (crore)40.42
Ownership
Promoter holding58.10% (+0.44 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 19.5 is at the 44th percentile of its own 9.4-year range (median 20.6, low 9.2, high 66.1).
P/B 2.26 is at the 37th percentile (median 2.63).
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.
PeriodSTARCEMENTNifty 50Difference
1 week-4.7%-2.8% -1.9 pts
1 month-3.9%-6.8% +2.9 pts
3 months-14.9%-7.6% -7.3 pts
6 months-12.2%+0.4% -12.6 pts
1 year-31.9%-9.9% -22.0 pts
2 years-15.0%-13.6% -1.5 pts
3 years+16.6%+14.2% +2.5 pts
5 years+66.3%+27.9% +38.4 pts
12 mutual fund schemes hold about ₹188 Cr. Over three months 3 bought more and 1 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
SBI Flexicap Fund0.67%156 -6%
LIC MF ELSS Tax Saver Fund1.74%18 +100%
Motilal Oswal Nifty Microcap 250 Index Fund0.16%4 -3%
iSIF Active Asset Allocator Long-Short Fund0.28%3 +100%
Union Value Fund0.63%3 +3%
iSIF Equity Long-Short Fund0.62%2 -4%
LIC MF Consumption Fund0.49%2 +100%
Groww Nifty Total Market Index Fund0.01%0 +3%
Angel One Nifty Total Market Index Fund0.01%0 +3%
Mirae Asset Nifty Total Market Index Fund0.01%0 +3%
Bandhan Nifty Total Market Index Fund0.01%0 +3%
Motilal Oswal BSE 1000 Index Fund0.01%0 +3%

Red flags

F-score 7 of 8
No red flags in the latest statements and filings.
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 ₹943 Cr +3.4% vs Jun 2025. Net profit ₹74 Cr -24.5%.

Activity

Compare
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No bulk or block deals on record.
Ex-dateActionFactor
2026-02-12Interim Dividend - Re 1 Per Share
2025-08-14Interim Dividend - Re 1 Per Share
2024-09-19Annual General Meeting
2023-09-21Annual General Meeting
2022-09-19Annual General Meeting
2021-09-27 Annual General Meeting
2021-08-25 Buy Back
2020-09-21 Annual General Meeting
2020-02-17 Interim Dividend - Re 1 Per Share
2019-09-17 Annual General Meeting
2019-07-04 Buyback
2018-07-23 Annual General Meeting/Dividend- Re 1 Per Share
2017-09-06 Annual General Meeting
No announcements in our files yet.
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.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Star Cement Ltd?

Star Cement Ltd (STARCEMENT) has a market capitalisation of Rs 7,198 Cr. at the 2026-10-01 close.

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

Star Cement Ltd trades at a P/E of 19.0 on trailing twelve-month profit, at the 2026-10-01 close.

What were Star Cement Ltd's latest quarterly results?

In the Jun 2026 quarter, Star Cement Ltd sales was Rs 943 Cr (+3.4% vs Jun 2025) and net profit was Rs 74 Cr.

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

The 52-week high is Rs 273.00 and the 52-week low is Rs 175.20.

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