āagman

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

The Ramco Cements Ltd

NSE: RAMCOCEM
₹786.90
−₹17.25 (−2.15%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹19,082 Cr
CMP
₹786.90
52-wk High / Low
₹1,215 / 785
P/E
100.0
P/B
2.4
Book Value
₹343.0
Div Yield
0.31%
ROCE
6.0%
ROE
0.4%
Face Value
₹1
D/E
0.48

Price−22.8% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
8
/ 9
8 of 9 F-score tests passed
Graham Number
₹478
√(22.5 × EPS × book value per share)
ROIC
4.7%
vs 6.2% sector median
Cash flow to profit
2.30
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−573
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
0.3%
ROE × earnings retention ratio
ROE stability
3.6
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.52DII +0.58
Latest quarter vs the previous one
Cash-accrual divergence
−5.5%
of assets
Low = accruals track cash flow
Strengths
+Promoter holding rose by 0.3pp over the last year
+Piotroski F-Score of 8/9 is in the strong band (≥7)
Watch-outs
−Latest ROCE of 6% trails the sector median of 10%
−Borrowings are up 80.8% since FY2016 (2141 to 3871)
−Price trades below its 200-day moving average (0.8x)
−Price is 35.2% 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
Sales2,2472,3412,1112,6782,0942,0441,9832,3972,0742,2392,1062,6102,273
Expenses1,9031,9351,7142,2591,7731,7301,7042,0781,6761,8511,8262,2401,967
Operating Profit343406397419320314279319398388280371306
OPM %15.3%17.3%18.8%15.6%15.3%15.4%14.1%13.3%19.2%17.3%13.3%14.2%13.5%
Other Income71271481019923674968619
Interest931171021041131201131131051111089596
Depreciation150163180154168170175183184183185188190
Profit before tax10813812117548341914611510048317340
Net Profit747282129372618226857838615131
EPS (₹)3.153.053.585.461.571.097.721.163.603.2716.326.381.32

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
Sales3,6553,5823,9674,4255,1625,3895,2916,0048,1579,3768,5189,0299,228
Expenses2,9352,5042,7593,3104,1174,2413,7334,7136,9717,8117,2847,5917,883
Operating Profit7211,0771,2081,1151,0461,1491,5581,2911,1861,5651,2341,4371,345
OPM %19.7%30.1%30.5%25.2%20.3%21.3%29.4%21.5%14.5%16.7%14.5%15.9%14.6%
Other Income85754032253430283339241595608
Interest19618410561537388113241416460421410
Depreciation251305286294300317357402506646695740746
Profit before tax3586638577927187921,144803472542319871797
Net Profit247545664566511605784882315356270699645
EPS (₹)10.3422.9027.8423.9521.6825.6533.2237.3013.3115.2311.5429.5727.29

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital242424242424242424242424—
Reserves2,6023,1093,7724,0894,5134,9785,7086,5956,8377,2147,4188,070—
Borrowings2,7342,1411,4371,1211,6373,0323,1103,9504,5074,9364,6753,871—
Other Liabilities1,6461,6701,8381,9362,0292,0992,6132,5893,2244,0954,2134,664—
Total Liabilities7,0066,9447,0717,1698,20310,13211,45513,15714,59216,27016,32916,629—
Fixed Assets4,8825,0265,2115,3235,4006,0496,9787,77310,19512,05312,34412,918—
CWIP2631471201758531,8402,3553,0341,9871,3781,386990—
Investments3583272102402592763072972733199060—
Other Assets1,5031,4441,5291,4321,6921,9671,8142,0542,1382,5192,5092,661—
Total Assets7,0066,9447,0717,1698,20310,13211,45513,15714,59216,27016,32916,629—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity5099321,0891,1171,1247937481,8921,1351,4121,8981,3991,611
Cash from Investing Activity−571−477−261−280−490−1,202−1,921−1,779−1,816−1,694−1,911−542−338
Cash from Financing Activity53−436−950−665−7936531,194−64715274−28−782−1,257
Net Cash Flow−918−122172−159243215035−8−417516

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—10.016.018.016.013.012.015.09.06.08.05.06.0
ROE %————————————0.4
EPS (₹)4.8110.3422.9027.8423.9521.6825.6533.2237.3013.3115.2311.5429.57
Book Value (₹)————————————343.0
Face Value (₹)————————————1
P/E————————————100.0
Div Yield %————————————0.31
NPM %3.16.614.916.612.79.911.214.714.63.83.83.17.3
OPM %15.020.030.030.025.020.021.029.022.015.017.014.016.0
D/E1.181.040.680.380.270.360.610.540.600.660.680.630.48
P/B————————————2.4

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+10.0%
5 years+11.0%
3 years+3.0%
TTM+9.0%
Compounded profit growth
10 years−25.0%
5 years−48.0%
3 years−54.0%
TTM+38.0%
Stock price CAGR
10 years+2.0%
5 years−4.0%
3 years−7.0%
Last year−21.0%
Return on equity
10 years8.0%
5 years5.0%
3 years2.0%
Last year0.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters42.30%42.30%42.75%42.75%42.66%42.54%42.33%42.29%42.29%42.55%42.55%42.55%
FIIs14.52%14.52%13.12%11.54%8.91%8.26%7.63%7.55%7.43%7.29%8.04%7.52%
DIIs18.88%18.88%20.35%23.05%24.45%23.23%32.63%32.46%32.24%30.14%28.92%29.50%
Government3.36%3.36%3.40%3.40%3.40%3.39%3.39%3.39%3.39%3.39%3.39%3.39%
Public20.94%20.94%20.39%19.27%20.58%22.57%14.03%14.31%14.66%16.64%17.10%17.04%
No. of shareholders28,83428,83431,97027,69830,43636,41551,39154,63856,32762,36052,68053,616
Change since Jun 2023 (pp)
Promoters +0.25FIIs −7.00DIIs +10.62Public −3.90

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Capacity ExpansionClosure of Trading WindowAnnouncement under Regulation 30 (LODR)-Newspaper PublicationAnnouncement under Regulation 30 (LODR)-Press Release / Media Release
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026PPTMay 2026PPTFeb 2026PPTNov 2025PPTAug 2025PPT

Corporate actions

As of 13 Aug 2026
13 Aug 2026DIVIDENDDividend - Rs 2.50 Per Share—
6 Aug 2025DIVIDENDDividend - Rs 2 Per Share—
9 Aug 2024DIVIDENDAnnual General Meeting/Dividend - Rs 2.50 Per Share—
3 Aug 2023DIVIDENDAnnual General Meeting/Dividend - Rs 2 Per Share—
2 Aug 2022DIVIDENDAnnual General Meeting/Dividend - Rs 3 Per Share—
22 Mar 2021DIVIDEND Interim Dividend - Rs 3 Per Share—
11 Mar 2020DIVIDEND Interim Dividend - Rs 2.5 Per Sh—
31 Jul 2019DIVIDEND Annual General Meeting/Dividend Rs 3 Per Sh—
26 Jul 2018DIVIDEND Annual General Meeting / Dividend- Rs 3 Per Share—
27 Jul 2017DIVIDEND Dividend - Rs 3 Per Share—
18 Mar 2016DIVIDEND Interim Dividend - Rs 3/- Per Share (Purpose Revised)—
29 Jul 2015DIVIDENDAnnual General Meeting/ Dividend - Rs 1.50/- Per Share—
18 Jul 2014DIVIDENDAnnual General Meeting And Final Dividend Re.1/- Per Share—
19 Jul 2013DIVIDENDAnnual General Meeting And Final Dividend Re.1/- Per Share—
15 Feb 2013DIVIDENDInterim Dividend Rs 1 Per Share (Purpose Revised)—
9 Nov 2012DIVIDENDInterim Dividend Re.1/- Per Share (Purpose Revised)—
26 Jul 2012DIVIDENDAnnual General Meeting/Dividend Re 0.50 Per Share—
27 Mar 2012DIVIDENDInterim Dividend Rs.2/- Per Share (Purpose Revised)—
2 Aug 2011DIVIDENDDividend-Rs.1.25 Per Share—
23 Jul 2010DIVIDENDDividend Rs0.50 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman