āagman

Not investment advice. Data and computed figures, for information only.

India Cements Ltd

NSE: INDIACEM
₹297.40
+₹1.75 (+0.59%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹9,218 Cr
CMP
₹297.40
52-wk High / Low
₹486 / 289
P/E
68.3
P/B
0.9
Book Value
₹327.0
Div Yield
0.00%
ROCE
1.0%
ROE
0.4%
Face Value
₹10
D/E
0.13

Price−23.9% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
5
/ 9
5 of 9 F-score tests passed
ROIC
0.8%
vs 6.2% sector median
Cash flow to profit
0.40
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+721
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
0.4%
ROE × earnings retention ratio
ROE stability
1.8
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.09DII −0.30
Latest quarter vs the previous one
Cash-accrual divergence
−0.3%
of assets
Low = accruals track cash flow
Strengths
+Borrowings are down 60.4% since FY2016 (3296 to 1305)
+Promoter holding rose by 46.6pp over the last year
Watch-outs
−Latest ROCE of 1% trails the sector median of 10%
−Price trades below its 200-day moving average (0.8x)
−Price is 38.8% below its 52-week high

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,4371,2641,1131,2361,0271,0229401,1981,0251,1171,1141,2291,019
Expenses1,4281,2601,0671,1991,0511,1851,1301,2009421,0361,0351,076864
Operating Profit844637−25−163−190−2838179153156
OPM %0.6%0.3%4.1%3.0%−2.4%−15.9%−20.2%−0.2%8.1%7.3%7.1%12.4%15.3%
Other Income785634256−64396110−115231515−22
Interest58605964827373382725242326
Depreciation54555757565555757474757672
Profit before tax−97−103−14−4993−35577−5−1324−56936
Net Profit−87−801−6158−33911918−1339−36027
EPS (₹)−2.82−2.580.02−1.951.89−10.943.950.47−4.290.28−0.091.920.87

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales5,0574,8795,1585,2675,7705,1864,5114,8585,6084,9984,1414,4854,479
Expenses4,2944,0064,2674,5485,1314,5883,7154,3735,7494,9124,4914,0904,010
Operating Profit763873891720639599796486−14186−350395469
OPM %15.1%17.9%17.3%13.7%11.1%11.6%17.6%10.0%−2.5%1.7%−8.5%8.8%10.5%
Other Income222117142624322322499654−6231
Interest4784403803653503432711982422402669999
Depreciation303291276279265256247226219220239299297
Profit before tax416425290502431185−378−275−202−65104
Net Profit−111915969265120987−125−227−144−6792
EPS (₹)−0.113.805.412.110.681.626.672.53−4.09−7.34−4.64−2.172.98

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital307308308308310310310310310310310310—
Reserves3,0734,7424,8674,9614,9365,1885,3885,6375,4665,2659,8849,814—
Borrowings3,5023,2963,1003,1973,3563,5933,0523,0912,9452,6331,1651,305—
Other Liabilities1,8052,3452,6742,4792,6962,5792,3403,0052,7462,4932,5181,974—
Total Liabilities8,68710,69210,95010,94611,29711,67011,09012,04311,46710,70113,87713,403—
Fixed Assets4,5997,4887,2607,1467,0727,2067,0657,1016,8036,87411,63811,187—
CWIP9899134176196235300386313190177344—
Investments44035735835837138238140833431912083—
Other Assets3,5502,7483,1983,2653,6593,8473,3444,1474,0163,3181,9421,788—
Total Assets8,68710,69210,95010,94611,29711,67011,09012,04311,46710,70113,87713,403—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity6459647655563773871,046439−19344−256−27
Cash from Investing Activity−124−220−158−306−202−282−189−2504352482,014−103
Cash from Financing Activity−520−757−605−235−180−110−860−183−397−572−1,73840
Net Cash Flow1−14216−5−6−36191919−89

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %7.08.08.05.05.04.07.03.0−4.0−1.0−5.01.0
ROE %———————————0.4
EPS (₹)−0.113.805.412.110.681.626.672.53−4.09−7.34−4.64−2.17
Book Value (₹)———————————327.0
Face Value (₹)———————————10
P/E———————————68.3
Div Yield %———————————0.00
NPM %−0.02.43.11.30.41.04.61.8−2.1−4.5−3.0−1.5
OPM %15.018.017.014.011.012.018.010.0−2.51.7−8.09.0
D/E1.040.650.600.610.640.650.540.520.510.470.110.13
P/B———————————0.9

Growth

As of 11 Oct 2026
Compounded sales growth
10 years−1.0%
5 years+0.0%
3 years−7.0%
TTM+7.0%
Compounded profit growth
10 years−11.0%
5 years−29.0%
3 years+28.0%
TTM+133.0%
Stock price CAGR
10 years+7.0%
5 years+9.0%
3 years+9.0%
Last year−24.0%
Return on equity
10 years−1.0%
5 years−4.0%
3 years−5.0%
Last year0.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters28.46%28.46%28.37%28.30%28.26%28.42%28.42%28.42%28.42%81.49%75.00%75.00%
FIIs25.25%25.25%18.22%13.30%12.85%13.06%13.29%13.15%13.27%4.94%3.49%3.40%
DIIs21.26%21.26%28.33%28.49%8.26%9.00%8.84%9.38%8.47%3.69%12.90%12.60%
Government————————————
Public25.03%25.03%25.08%29.91%50.63%49.53%49.46%49.04%49.83%9.87%8.62%9.00%
No. of shareholders1,06,9781,06,9781,42,9871,59,7101,56,4731,54,8881,85,6491,95,9742,06,6671,75,9171,56,5671,57,402
Change since Jun 2023 (pp)
Promoters +46.54FIIs −21.85DIIs −8.66Public −16.03

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAnnouncement under Regulation 30 (LODR)-Newspaper PublicationShareholder Meeting / Postal Ballot-Notice of Postal BallotAnnouncement under Regulation 30 (LODR)-Acquisition
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Jul 2026TranscriptJul 2026RecordingMay 2026TranscriptMay 2026PPTJan 2026TranscriptJan 2026PPTOct 2025TranscriptOct 2025PPTJul 2025TranscriptJul 2025PPT

Corporate actions

As of 20 Sep 2022
20 Sep 2022DIVIDENDAnnual General Meeting/Dividend - Re 1 Per Share—
31 Aug 2021DIVIDEND Annual General Meeting/Dividend - Re 1 Per Share—
18 Sep 2020DIVIDEND Annual General Meeting/Dividend - Rs 0.60 Per Share—
4 Sep 2019DIVIDEND Annual General Meeting/Dividend - Rs 0.80 Per Share—
11 Sep 2018DIVIDEND Annual General Meeting/Dividend- Re 0.80 Per Share—
24 Aug 2017DIVIDEND Annual General Meeting/Dividend - Re 1/- Per Share—
19 Aug 2016DIVIDEND Annual General Meeting/Dividend Re 1/- Per Share—
6 Sep 2013DIVIDENDAnnual General Meeting And Dividend Rs.2/- Per Share (Bc Dates Revised)—
6 Aug 2012DIVIDENDAnnual General Meeting And Dividend Rs.2/- Per Share—
16 Aug 2011DIVIDENDDividend-Rs.1.50 Per Share—
26 Jul 2010DIVIDENDDividend-Rs.2/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman