āagman

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

Star Cement Ltd

NSE: STARCEMENT
₹171.54
+₹1.18 (+0.69%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹7,542 Cr
CMP
₹171.54
52-wk High / Low
₹273 / 165
P/E
20.0
P/B
2.4
Book Value
₹79.0
Div Yield
1.07%
ROCE
17.0%
ROE
13.2%
Face Value
₹1
D/E
0.19

Price−35.4% 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
7
/ 9
7 of 9 F-score tests passed
Graham Number
₹132
√(22.5 × EPS × book value per share)
ROIC
11.0%
vs 6.2% sector median
Cash flow to profit
1.96
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−443
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
10.4%
ROE × earnings retention ratio
ROE stability
2.2
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −0.02FII +0.03DII −0.27
Latest quarter vs the previous one
Cash-accrual divergence
−8.6%
of assets
Low = accruals track cash flow
Strengths
+ROCE has stayed above the sector median for 5 consecutive years (weakest: 8% vs the 2025 sector median of 7.5%)
+Borrowings are down 35.9% since FY2016 (940 to 603)
+Annualised volatility of 22.6% is in the low band (≤25%)
+FII holding rose by 1.7pp over the last year
+Piotroski F-Score of 7/9 is in the strong band (≥7)
+PE of 20x is below the sector median of 27.3x
Watch-outs
−Price trades below its 200-day moving average (0.8x)
−Price is 37.2% below its 52-week high
−Promoter holding fell by 9.0pp over the last year

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
Sales7605856519147516427191,0529128118801,174943
Expenses631487503734635546615789684621678858748
Operating Profit1299914918011696104263228190202315194
OPM %17.0%16.9%22.9%19.7%15.4%15.0%14.5%25.0%25.0%23.4%23.0%26.8%20.6%
Other Income9648123523−138
Interest2334671091011121314
Depreciation32363742738389888590919991
Profit before tax104651131413988171135929920798
Net Profit93417488316912398717414774
EPS (₹)2.311.011.822.170.770.140.223.052.441.781.853.661.85

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
Sales1,4301,7151,5281,6151,8311,8431,7202,2222,7052,9113,1633,7763,807
Expenses9941,3161,1191,0931,3821,4491,3871,8772,2362,3532,5852,8412,905
Operating Profit436399408521449394333345468557579936902
OPM %30.5%23.3%26.7%32.3%24.5%21.4%19.4%15.5%17.3%19.1%18.3%24.8%23.7%
Other Income1124529−3633522510814
Interest878378521497131013324650
Depreciation2241711181211069390122131147332365372
Profit before tax126145215353335322199244380424226532495
Net Profit121139195336305287187247248295169390366
EPS (₹)28.303.204.647.897.136.924.546.116.137.304.189.739.14

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 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—

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 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

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %12.012.014.020.018.017.013.012.017.016.08.017.0
ROE %———————————13.2
EPS (₹)28.303.204.647.897.136.924.546.116.137.304.189.73
Book Value (₹)———————————79.0
Face Value (₹)———————————1
P/E———————————20.0
Div Yield %———————————1.07
NPM %8.58.112.720.816.615.311.111.09.010.05.310.3
OPM %31.023.027.032.025.021.019.016.017.019.018.025.0
D/E0.960.890.700.290.040.010.010.010.010.050.140.19
P/B———————————2.4

Growth

As of 27 Sep 2026
Compounded sales growth
10 years+8.0%
5 years+17.0%
3 years+12.0%
TTM+15.0%
Compounded profit growth
10 years+12.0%
5 years+10.0%
3 years+17.0%
TTM+60.0%
Stock price CAGR
5 years+12.0%
3 years+7.0%
Last year−26.0%
Return on equity
10 years13.0%
5 years11.0%
3 years10.0%
Last year13.0%

Shareholding pattern

As of 31 Dec 2025
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters68.89%68.89%67.99%66.77%67.11%67.33%67.12%66.59%57.67%58.12%58.10%
FIIs1.93%1.93%1.23%0.24%0.07%0.20%0.63%1.52%2.02%2.26%2.29%
DIIs7.25%7.25%8.71%8.28%7.93%6.15%6.15%6.11%5.17%2.65%2.38%
Government———————————
Public21.92%21.92%22.08%24.70%24.89%26.32%26.10%25.77%35.15%36.96%37.23%
No. of shareholders17,90017,90017,25519,00534,66453,96942,37356,63665,09162,72062,529
Change since Jun 2023 (pp)
Promoters −10.79FIIs +0.36DIIs −4.87Public +15.31

Documents

As of 27 Sep 2026
Announcements
Shareholder Meeting / Postal Ballot-Scrutinizer''s ReportAnnouncement under Regulation 30 (LODR)-Change in DirectorateShareholder Meeting / Postal Ballot-Outcome of AGMClosure of Trading WindowGeneral Announcement
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingJun 2026TranscriptJun 2026PPTMay 2026PPTFeb 2026TranscriptNov 2025TranscriptNov 2025PPT

Corporate actions

As of 12 Feb 2026
12 Feb 2026DIVIDENDInterim Dividend - Re 1 Per Share—
14 Aug 2025DIVIDENDInterim Dividend - Re 1 Per Share—
17 Feb 2020DIVIDEND Interim Dividend - Re 1 Per Share—
23 Jul 2018DIVIDEND Annual General Meeting/Dividend- Re 1 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman