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Associated Ceramics

ASSOCERLTD NSE

Key Fundamentals

MicrocapConstruction MaterialsConstruction
Market Cap
₹34.30 Cr
Volatility
Low Risk
P/E Ratio
19.5
EBITDA
₹5.35 Cr
Return on Equity
9.15%
Debt to Equity
0.12
Book Value
₹124.69
EPS
₹2.85
52W High
₹246.8
52W Low
₹140

Tapetide Score

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

Key Insights

Strengths

2
  • Company has reduced debt.
  • 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.

Growth Rate

Revenue Growth
2.54% higher than 3Y
Net Income Growth
-14.55% higher than 3Y
Cash Flow Change
-66.08% lower than 3Y
ROE
129% higher than 3Y
ROCE
57.28% higher than 3Y
EBITDA Margin (Avg.)
-26.97% lower than 3Y

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 in Rs
-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 in Rs
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

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62 extracted metrics + investor summaries across FY10–FY26.

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Shareholding Pattern

Promot.55.34%Others15.57%Public29.09%As ofJun 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 (531168) listed?
Associated Ceramics Ltd trades as ASSOCERLTD on the NSE and under code 531168 on the BSE.
Which sector does Associated Ceramics Ltd belong to?
Associated Ceramics Ltd is classified under the Commodities sector, in the Other Construction Materials industry.
What is the market capitalisation of Associated Ceramics Ltd?
Associated Ceramics Ltd has a market capitalisation of ₹34.3 Cr, 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 19.50, on earnings per share of ₹2.85, 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 ₹246.8.
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

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