Orient Cement
Orient Cement
ConstructionKey Fundamentals
MicrocapCementConstructionTapetide Score
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Key Insights
Strengths
1- Company is almost debt free.
Weaknesses
4- The company has delivered a poor sales growth of 3.75% over past five years.
- Company has a low return on equity of 11.2% over last 3 years.
- Debtor days have increased from 56.3 to 110 days.
- Working capital days have increased from 31.7 days to 77.1 days
Growth Rate
AI Analysis — Bull vs Bear
Orient Cement Ltd trades at a market cap of ₹2,914 Cr with a PE of 8.6x and PB of 1.36x. The company is nearly debt-free and reported a sharp 276% TTM profit growth, but revenue growth remains muted at 3% TTM with deteriorating working capital metrics.
- Company is almost debt-free, providing financial flexibility and lower interest burden in a capital-intensive sector
- PE ratio of 8.6x is significantly below the Indian cement sector average, suggesting undemanding valuations
- TTM profit growth of 276% indicates a sharp recovery in earnings and margin expansion
- 3-year compounded profit CAGR of 41% shows sustained earnings momentum beyond a single quarter
- Last year ROE jumped to 17%, well above the 3-year average of 11% and 10-year average of 10%, signalling improving capital efficiency
- Price-to-book of 1.36x is modest for a cement company with improving profitability
- 10-year compounded sales CAGR of 7% demonstrates long-term revenue base expansion despite recent slowdown
- Dividend yield of 0.35% provides a small but tangible return to shareholders even during a recovery phase
- Stock price has declined 41% over the past 1 year, reflecting significant negative market sentiment
- Debtor days nearly doubled from 56.3 to 110 days, indicating serious deterioration in receivables collection
- Working capital days surged from 31.7 to 77.1 days, locking up more cash in operations and straining liquidity
- 5-year compounded sales CAGR of just 3.75% signals chronic top-line growth challenges in a growing infrastructure economy
- 3-year compounded sales CAGR is negative at -2%, showing recent revenue contraction
- 3-year ROE of only 11.2% is below cost-of-equity benchmarks for a cyclical commodity business
- 10-year stock CAGR of -2% means the stock has destroyed value for long-term holders over a full decade
- Tax rate appears low, suggesting current earnings may not be fully sustainable at normalized tax rates
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- 15th AGM held via VC Jun 26
Orient Cement conducted its 15th Annual General Meeting via video conferencing on June 26, 2026, with e-voting open from June 23 to June 25.
- Non-deal roadshow in Mumbai Jun 11
Orient Cement scheduled a non-deal investor roadshow in Mumbai on June 16-17, 2026, with discussions based on publicly available information.
TL;DR: Orient Cement had a quiet period with only routine corporate governance events — an AGM and a non-deal roadshow. No material operational, financial, or strategic developments were reported. With no headwinds or positives in the recent news flow, the near-term outlook remains neutral pending fresh catalysts such as earnings or capacity updates.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 825 | 721 | 751 | 888 | 696 | 544 | 643 | 825 | 866 | 643 | 636 | 647 | 604 |
| Expenses | 726 | 634 | 636 | 740 | 600 | 500 | 585 | 722 | 684 | 478 | 546 | 539 | 460 |
| Operating Profit | 99 | 87 | 115 | 148 | 96 | 44 | 58 | 103 | 182 | 165 | 90 | 108 | 144 |
| OPM % | 12% | 12% | 15% | 17% | 14% | 8% | 9% | 12% | 21% | 26% | 14% | 17% | 24% |
| Other Income | 4 | 2 | 2 | 8 | 6 | 4 | 3 | 8 | 2 | 12 | -4 | 6 | 5 |
| Interest | 10 | 9 | 8 | 8 | 6 | 6 | 6 | 6 | 3 | 3 | 2 | 5 | 3 |
| Depreciation | 37 | 37 | 38 | 38 | 39 | 39 | 38 | 37 | 37 | 101 | 48 | 45 | 43 |
| PBT | 57 | 42 | 72 | 110 | 58 | 3 | 17 | 68 | 144 | 74 | 36 | 64 | 103 |
| Tax % | 35% | 42% | 37% | 38% | 37% | 26% | 39% | 38% | -42% | 33% | 23% | 13% | 25% |
| Net Profit | 37 | 25 | 45 | 68 | 37 | 2 | 10 | 42 | 205 | 49 | 28 | 55 | 77 |
| EPS in Rs | 1.81 | 1.2 | 2.2 | 3.33 | 1.79 | 0.11 | 0.49 | 2.05 | 9.98 | 2.39 | 1.35 | 2.7 | 3.75 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,545 | 1,462 | 1,875 | 2,222 | 2,522 | 2,422 | 2,324 | 2,725 | 2,938 | 3,185 | 2,709 | 2,793 | 2,531 |
| Expenses | 1,239 | 1,277 | 1,696 | 1,916 | 2,210 | 2,039 | 1,773 | 2,134 | 2,573 | 2,736 | 2,407 | 2,247 | 2,024 |
| Operating Profit | 307 | 186 | 179 | 306 | 312 | 383 | 551 | 591 | 365 | 449 | 302 | 546 | 507 |
| OPM % | 20% | 13% | 10% | 14% | 12% | 16% | 24% | 22% | 12% | 14% | 11% | 20% | 20% |
| Other Income | 6 | 8 | 11 | 19 | 14 | 18 | 18 | 10 | 12 | 15 | 20 | 16 | 20 |
| Interest | 14 | 54 | 135 | 129 | 118 | 122 | 94 | 51 | 38 | 34 | 23 | 13 | 13 |
| Depreciation | 47 | 78 | 122 | 126 | 133 | 141 | 142 | 145 | 147 | 149 | 153 | 231 | 237 |
| PBT | 251 | 61 | -66 | 70 | 75 | 137 | 334 | 404 | 192 | 281 | 145 | 318 | 277 |
| Tax % | 22% | -2% | -52% | 37% | 36% | 37% | 36% | 35% | 36% | 38% | 37% | -6% | — |
| Net Profit | 195 | 62 | -32 | 44 | 48 | 87 | 214 | 263 | 123 | 175 | 91 | 338 | 209 |
| EPS in Rs | 9.51 | 3.04 | -1.57 | 2.16 | 2.32 | 4.23 | 10.45 | 12.85 | 6 | 8.53 | 4.45 | 16.44 | 10.19 |
| Div. Payout % | 18% | 33% | -32% | 35% | 32% | 18% | 19% | 19% | 25% | 26% | 11% | 3% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 21 | 21 |
| Reserves | 955 | 1,020 | 967 | 1,002 | 1,033 | 1,098 | 1,285 | 1,505 | 1,583 | 1,723 | 1,787 | 2,125 |
| Borrowings | 1,106 | 1,285 | 1,336 | 1,314 | 1,290 | 1,226 | 798 | 316 | 398 | 170 | 70 | 72 |
| Other Liabilities | 484 | 571 | 560 | 601 | 584 | 555 | 708 | 809 | 875 | 943 | 925 | 915 |
| Total Liabilities | 2,566 | 2,896 | 2,883 | 2,937 | 2,927 | 2,900 | 2,812 | 2,650 | 2,877 | 2,855 | 2,803 | 3,133 |
| Fixed Assets | 798 | 2,207 | 2,296 | 2,251 | 2,355 | 2,272 | 2,207 | 2,115 | 2,010 | 2,021 | 1,990 | 1,779 |
| CWIP | 1,319 | 239 | 98 | 158 | 48 | 67 | 41 | 40 | 140 | 89 | 24 | 32 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 115 | 14 | 4 | 11 | 42 | 13 |
| Other Assets | 448 | 450 | 489 | 528 | 525 | 562 | 448 | 481 | 723 | 734 | 746 | 1,309 |
| Total Assets | 2,566 | 2,896 | 2,883 | 2,937 | 2,927 | 2,900 | 2,812 | 2,650 | 2,877 | 2,855 | 2,803 | 3,133 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 156 | 268 | 259 | 279 | 281 | 292 | 714 | 524 | 111 | 426 | 205 | -39 |
| Investing | -922 | -371 | -124 | -149 | -120 | -73 | -162 | 70 | -120 | -85 | -97 | 9 |
| Financing | 727 | 98 | -108 | -161 | -171 | -206 | -552 | -586 | 35 | -334 | -136 | -2 |
| Net Cash Flow | -40 | -5 | 27 | -31 | -10 | 13 | 0 | 8 | 26 | 7 | -28 | -32 |
| Free Cash Flow | -766 | -104 | 153 | 132 | 160 | 215 | 663 | 471 | -18 | 348 | 146 | -69 |
| CFO/OP | 68 | 152 | 144 | 95 | 96 | 84 | 140 | 100 | 40 | 106 | 87 | 5 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 19 | 23 | 21 | 25 | 26 | 24 | 17 | 17 | 21 | 26 | 33 | 110 |
| Inventory Days | 213 | 236 | 196 | 230 | 269 | 269 | 192 | 192 | 331 | 269 | 276 | 125 |
| Days Payable | 214 | 340 | 268 | 280 | 270 | 201 | 207 | 238 | 203 | 181 | 198 | 259 |
| Cash Conversion Cycle | 19 | -81 | -52 | -25 | 25 | 93 | 2 | -29 | 150 | 114 | 112 | -24 |
| Working Capital Days | 4 | -16 | -42 | -36 | -12 | -5 | -24 | -39 | -25 | 2 | 16 | 77 |
| ROCE % | 16% | 5% | 3% | 9% | 8% | 11% | 19% | 23% | 12% | 16% | 9% | 16% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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71 extracted metrics + investor summaries across FY12–FY27.
Documents
Frequently Asked Questions about Orient Cement
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Company Information
Orient Cement Ltd is primarily engaged in the manufacture and sale of Cement and its manufacturing facilities at present are located at Devapur in Telangana, Chittapur in Karnataka and Jalgaon in Maharashtra.[1]
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