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Associated Ceramics

531168 BSE
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Associated Ceramics (ASSOCER) share price was ₹162.00 at the 27 Oct 2026 close; market capitalisation ₹33.08 Cr; P/E (TTM) 18.82; sector Construction. The share price fell 19.1% over the year to 27 Oct 2026 (adjusted for splits and bonuses). In the Jun 2026 quarter, revenue fell 29.3% year on year to ₹9.06 Cr and net profit was ₹0.41 Cr, against ₹0.73 Cr a year earlier (compared with Jun 2025). Promoters held 55.34% of Associated Ceramics in Sep 2026, unchanged from Jun 2026. Its Tapetide Score is 52/100 (Average) as of 28 Oct 2026.

Close 27 Oct 2026 ₹162.00 −49.00 −23.22% 1Y

Key Fundamentals

MicrocapOther Construction MaterialsConstruction Materials
Market Cap
₹33.08 Cr
P/E (TTM)
18.82
EBITDA
₹5.35 Cr
Return on Equity
9.15%
Debt to Equity
0.12
Book Value
₹124.69
EPS (TTM)
₹8.61
52W High
₹5,681.00
52W Low
₹140.00

Price-based figures as of 27 Oct 2026, 15:30 IST · EPS basis: Standalone · TTM

Peer Comparison

Commodities › Construction › Construction Materials › Other Construction Materials

Midwest Gold
——3,348 Cr8.190.00%-3.52%-1.91%18 Cr-11 Cr
Ramco Industries
₹286.107.592,485 Cr0.550.44%3.00%4.71%1,906 Cr328 Cr
Arisinfra Solutions
₹140.6217.301,150 Cr1.560.00%8.03%13.79%1,160 Cr75 Cr
Birlanu
₹1,248.40—941 Cr0.851.20%-10.77%-2.68%3,934 Cr-109 Cr
Everest Industries
₹478.10—758 Cr1.260.21%-20.56%-11.67%1,469 Cr-1 Cr
Marble City
—52.38401 Cr1.230.00%9.51%15.40%105 Cr9 Cr
Associated Ceramics (this company)
—18.8233 Cr1.300.00%9.15%14.47%41 Cr2 Cr
Glass Wall Systems (India)
₹213.25————————
Median 8 companies₹286.1018.06941 Cr1.260.00%3.00%4.71%1,160 Cr2 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

52 Average
Overall score

Data confidence 100/100

Category scores

Quality Strong 76
Returns, margins, earnings quality 22% weight
Valuation Average 54
Cheap vs sector & own history 24% weight
Growth Poor 23
Sales & profit trajectory 9% weight
Financial Health Strong 69
Solvency, leverage, coverage 9% weight
Momentum Poor 22
Trend strength, vol-adjusted 12% weight
Ownership Average 50
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

3
  • Company has reduced debt.
  • Stock is trading at 1.19 times its book value
  • Debtor days have improved from 41.5 to 26.7 days.

Weaknesses

3
  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 7.28% over past five years.
  • Company has a low return on equity of 7.46% over last 3 years.

Technical Indicators

Oscillators

Bullish

Bearish
0
Neutral
7
Bullish
2

Overall

Bullish

Bearish
5
Neutral
7
Bullish
7

Moving Averages

Neutral

Bearish
5
Neutral
0
Bullish
5

Growth Rate

Revenue Growth
2.54% higher than 3Y

change over 1 year

Net Income Growth
-14.55% higher than 3Y

change over 1 year

Cash Flow Change
-66.08%

change over 1 year

EBITDA Margin Change
-26.97%

change over 1 year Operating margin 13.8% · Jun 2026

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
7.99
9.13
13.31
10.13
8.95
12.37
9.35
11.27
12.81
15.08
7.27
9.25
9.06
Expenses
7.97
6.61
11.32
9.76
6.5
11.37
7.52
10.86
11.13
12.25
6.5
9.2
7.81
Operating Profit
0.02
2.52
1.99
0.37
2.45
1
1.83
0.41
1.68
2.83
0.77
0.05
1.25
OPM %
0.25%
27.6%
14.95%
3.65%
27.37%
8.08%
19.57%
3.64%
13.11%
18.77%
10.59%
0.54%
13.8%
Other Income
0.13
0.08
0.08
0.45
0.01
0.03
0.02
1.32
0.17
0.18
0.04
0.19
0.04
Interest
0.04
0.05
0.12
0.14
0.05
0.06
0.11
0.12
0.06
0.05
0.04
0.02
0.04
Depreciation
0.59
1.23
0.97
0.77
0.83
0.84
0.88
0.86
0.82
0.86
0.82
0.54
0.7
PBT
-0.48
1.32
0.98
-0.09
1.58
0.13
0.86
0.75
0.97
2.1
-0.05
-0.32
0.55
Tax %
-25%
25.76%
25.51%
444.44%
25.95%
23.08%
23.26%
66.67%
25.77%
25.24%
-20%
-40.62%
25.45%
Net Profit
-0.35
0.98
0.72
-0.49
1.17
0.09
0.66
0.25
0.73
1.58
-0.04
-0.19
0.41
EPS (₹)
-1.71
4.79
3.52
-2.4
5.72
0.44
3.23
1.22
3.57
7.73
-0.2
-0.93
2.01
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
16.64
25.07
19.52
16.74
27.38
33.79
31.25
38.37
55.8
40.54
41.83
44.4
40.66
Expenses
15.9
22.93
20.71
16.91
24.17
29.56
26.67
32.28
48.16
35.59
36.1
39.05
35.76
Operating Profit
0.74
2.14
-1.19
-0.17
3.21
4.23
4.58
6.09
7.64
4.95
5.73
5.35
4.9
OPM %
4.45%
8.54%
-6.1%
-1.02%
11.72%
12.52%
14.66%
15.87%
13.69%
12.21%
13.7%
12.05%
12.05%
Other Income
0.24
0.08
0.37
0.7
0.3
0.75
0.97
0.37
0.61
0.74
1.37
0.58
0.45
Interest
0.09
0.45
1.09
0.89
0.47
0.41
0.22
0.12
0.51
0.41
0.38
0.18
0.15
Depreciation
0.61
1.09
1.79
1.56
1.33
1.27
1.13
0.99
1.57
3.56
3.41
3.03
2.92
PBT
0.28
0.68
-3.7
-1.92
1.71
3.3
4.2
5.35
6.17
1.72
3.31
2.72
2.28
Tax %
17.86%
239.71%
-14.05%
4.17%
-10.53%
1.52%
-7.86%
21.68%
25.77%
50.58%
34.74%
23.53%
—
Net Profit
0.23
-0.94
-3.16
-2
1.88
3.26
4.54
4.18
4.58
0.86
2.16
2.08
1.76
EPS (₹)
0.77
-3.13
-10.52
-6.66
6.26
10.85
15.11
20.44
22.4
4.21
10.56
10.17
8.61
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
2.28
2.28
2.28
2.28
2.28
2.28
2.28
2.28
2.28
2.28
2.28
2.28
Reserves
14.36
13.38
9.66
7.65
9.53
12.79
17.32
21.49
18.33
19.18
21.3
23.45
Borrowings
4.99
14.09
13.79
12.02
3.5
5.77
7.55
5.14
16.07
16.76
6.5
3.18
Other Liabilities
8
7.74
7.36
5.3
8.86
7.46
4.47
4.67
10.63
9.32
15.57
10.31
Total Liabilities
29.63
37.49
33.09
27.25
24.17
28.3
31.62
33.58
47.31
47.54
45.65
39.22
Fixed Assets
5.49
13.74
12.66
11.12
10.14
9.74
10.77
10.95
25.29
25.07
22.67
20.14
CWIP
0
0
0
0
0
0
0
4.1
0
0
0
0
Investments
0.25
0.25
0.59
0.56
0.99
0.66
1.37
1.69
1.55
1.8
2.27
2.17
Other Assets
23.89
23.5
19.84
15.57
13.04
17.9
19.48
16.84
20.47
20.67
20.71
16.91
Total Assets
29.63
37.49
33.09
27.25
24.17
28.3
31.62
33.58
47.31
47.54
45.65
39.22
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-0.74
0
0
3.53
9.01
-0.39
0.18
8.38
8.62
16.39
5.56
2.2
Investing
-0.68
0
0
-0.01
-0.29
-0.85
-2.15
-5.33
-11.78
-7.29
1.8
-0.39
Financing
2
0
0
-3.16
-8.96
1.87
1.55
-2.5
2.84
-9.38
-5.87
-3.5
Net Cash Flow
0.59
0
0
0.36
-0.25
0.63
-0.42
0.54
-0.31
-0.28
1.49
-1.69
Free Cash Flow
-1.34
0
0
3.5
8.66
-1.25
-1.98
3.1
-3.19
13.05
4.55
1.67
CFO/OP
-72
0
0
-2,076
304
-9
4
152
129
355
112
54
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
73.26
59.4
122
124
37.33
51.63
91.92
29.3
38.99
54.47
43.28
26.72
Inventory Days
606
316
253
331
208
167
164
246
146
145
189
117
Days Payable
127
95.58
114
124
113
51.59
54.62
60.57
68.85
72.51
88.82
50.35
Cash Conversion Cycle
552
280
261
332
132
167
201
215
116
127
144
93.44
Working Capital Days
237
120
77.79
70.86
40.26
69.02
108
77.81
20.41
-80.76
-30.54
19.98
ROCE %
—
4.36%
-9.37%
-4.03%
12.88%
20.36%
17.96%
19.62%
20.31%
5.69%
10.78%
9.83%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Associated Ceramics insights

63 extracted metrics + investor summaries across FY10–FY27.

Shareholding Pattern

Promot.55.34%Others15.56%Public29.09%As ofSep 2026

Documents

Frequently Asked Questions about Associated Ceramics

What does Associated Ceramics Ltd do?
Incorporated in 1970, Associated Ceramics Ltd manufactures and sells refractory items[1]
Where is Associated Ceramics Ltd (ASSOCER) listed?
Associated Ceramics Ltd trades under code 531168 on the BSE.
Which sector does Associated Ceramics Ltd belong to?
Associated Ceramics Ltd is classified under the Construction sector, in the Construction Materials industry.
What is the market capitalisation of Associated Ceramics Ltd?
Associated Ceramics Ltd has a market capitalisation of ₹33.08 Cr as of 27 Oct 2026, which places it in the Small Cap band.
What is the PE ratio of Associated Ceramics Ltd?
Associated Ceramics Ltd trades at a PE ratio of 18.82 as of 27 Oct 2026, on earnings per share of ₹8.61, against a book value of ₹124.69 per share.
What is the 52-week high and low of Associated Ceramics Ltd?
Over the last 52 weeks Associated Ceramics Ltd has traded between ₹140 and ₹5,681 as of 27 Oct 2026.
What is the Return on Equity (ROE) of Associated Ceramics Ltd?
Associated Ceramics Ltd reported a return on equity of 9.15%. Its debt-to-equity ratio is 0.12.

Company Information

Incorporated in 1970, Associated Ceramics Ltd manufactures and sells refractory items[1]

Website associatedceremics.com
Listed 2023-02-21
Face Value ₹ 10
Shares Outstanding 20,42,231

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