Ramco Industries
Ramco Industries (RAMCOIND) share price was ₹288.50 at the 28 Oct 2026 close; market capitalisation ₹2,505 Cr; P/E (TTM) 7.66; sector Construction. The share price fell 18.5% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Jun 2026 quarter, revenue rose 15.5% year on year to ₹613.8 Cr and net profit rose 32.0% year on year to ₹86.6 Cr (compared with Jun 2025). Promoters held 54.83% of Ramco Industries in Sep 2026, unchanged from Jun 2026. Its Tapetide Score is 55/100 (Good) as of 28 Oct 2026.
Key Fundamentals
MicrocapOther Construction MaterialsConstruction MaterialsPrice-based figures as of 28 Oct 2026, 15:31 IST · EPS basis: Consolidated · TTM
Peer Comparison
Commodities › Construction › Construction Materials › Other Construction Materials
| ₹267.30 | — | 3,467 Cr | 8.48 | 0.00% | -3.52% | -1.91% | 18 Cr | -11 Cr | |
| Ramco Industries (this company) | ₹288.50 | 7.66 | 2,505 Cr | 0.55 | 0.44% | 3.00% | 4.71% | 1,906 Cr | 328 Cr |
| ₹141.45 | 17.40 | 1,157 Cr | 1.57 | 0.00% | 8.03% | 13.79% | 1,160 Cr | 75 Cr | |
| ₹1,249.80 | — | 942 Cr | 0.85 | 1.20% | -10.77% | -2.68% | 3,934 Cr | -109 Cr | |
| ₹481.70 | — | 764 Cr | 1.27 | 0.21% | -20.56% | -11.67% | 1,469 Cr | -1 Cr | |
| ₹154.00 | 52.38 | 401 Cr | 1.23 | 0.00% | 9.51% | 15.40% | 105 Cr | 9 Cr | |
| ₹215.25 | — | — | — | — | — | — | — | — | |
| Median 7 companies | ₹267.30 | 17.40 | 1,050 Cr | 1.25 | 0.11% | -0.26% | 1.40% | 1,315 Cr | 4 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. How it works →
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Category scores
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
4- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 0.58 times its book value
- Market value of investments Rs.5,334 Cr. is more than the Market Cap Rs.2,605 Cr.
Weaknesses
2- The company has delivered a poor sales growth of 8.19% over past five years.
- Company has a low return on equity of 4.66% over last 3 years.
Technical Indicators
Oscillators
Bearish
Overall
Bearish
Moving Averages
Bearish
Growth Rate
change over 1 year
change over 1 year
change over 1 year
change over 1 year Operating margin 17% · Jun 2026
AI Analysis — Bull vs Bear
Ramco Industries Ltd trades at a market cap of Rs.2,910 Cr with a PE of 9.5x and PB of 0.65x, while the market value of its investments (Rs.5,215 Cr) significantly exceeds its market capitalisation. The company has grown sales at a compounded 8% over 10 years with TTM profit growth of 66%, though its 3-year average ROE remains modest at 5%.
- Stock trades at 0.65x book value, indicating significant discount to reported net assets
- Market value of investments at Rs.5,215 Cr exceeds the company's entire market cap of Rs.2,910 Cr by nearly 79%
- Company is almost debt-free, reducing balance sheet risk and interest burden
- TTM profit growth of 66% signals a sharp earnings recovery in the most recent period
- PE ratio of 9.5x is modest for a commodities company with improving profitability
- 3-year compounded profit CAGR of 35% reflects sustained earnings momentum over a medium-term horizon
- ROE has improved from the 3-year average of 5% to 7% in the last year, suggesting operational improvement
- Stock has delivered a 1-year return of 16% and 3-year CAGR of 25%, outperforming broader market in those periods
- 5-year sales CAGR of only 8% indicates consistently slow top-line growth for the business
- 3-year average ROE of just 5% and last-year ROE of 7% remain below cost-of-equity benchmarks for most investors
- 5-year compounded profit CAGR of only 2% shows that the recent profit spike has not been the long-term trend
- Dividend yield of just 0.3% offers negligible income return despite being nearly debt-free with large investments
- 10-year stock CAGR of 10% and 5-year CAGR of only 4% suggest prolonged periods of underperformance
- 10-year compounded profit growth of just 5% indicates structurally low earnings growth over a full cycle
- Commodities sector exposure subjects earnings to cyclical price swings, making the recent 66% TTM profit jump potentially unsustainable
- Despite holding investments worth Rs.5,215 Cr, the company has not unlocked or distributed this value to shareholders meaningfully, as reflected in the 0.3% dividend yield
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Independent Director re-appointed Jul 6
Ajay Bhaskar Baliga re-appointed as Non-Executive Independent Director for a five-year term (Jul 27, 2026 to Jul 26, 2031) with 99.9992% votes in favour via postal ballot.
TL;DR: Limited recent news flow for Ramco Industries. The only development is a routine board re-appointment with near-unanimous shareholder approval, signalling stable governance. No material business updates, earnings catalysts, or risk signals are visible in the current news cycle.
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 | 487 | 316 | 334 | 365 | 543 | 353 | 344 | 423 | 532 | 365 | 392 | 502 | 614 |
| Expenses | 433 | 287 | 300 | 325 | 486 | 312 | 307 | 379 | 464 | 313 | 345 | 437 | 509 |
| Operating Profit | 54 | 29 | 34 | 40 | 57 | 41 | 37 | 44 | 68 | 52 | 47 | 65 | 105 |
| OPM % | 11% | 9% | 10% | 11% | 10% | 12% | 11% | 10% | 13% | 14% | 12% | 13% | 17% |
| Other Income | 4 | 3 | 3 | 4 | 3 | 3 | 4 | 6 | 3 | 4 | 3 | 13 | 13 |
| Interest | 6 | 6 | 7 | 6 | 4 | 3 | 4 | 5 | 5 | 4 | 5 | 4 | 3 |
| Depreciation | 9 | 9 | 9 | 10 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 10 |
| PBT | 43 | 18 | 20 | 28 | 47 | 33 | 27 | 35 | 57 | 43 | 36 | 64 | 106 |
| Tax % | 23% | 56% | 36% | 30% | 23% | 60% | 43% | 19% | 20% | 53% | 40% | 25% | 25% |
| Net Profit | 40 | -4 | 26 | 44 | 39 | 17 | 89 | 36 | 66 | 41 | 112 | 88 | 87 |
| EPS (₹) | 4.56 | -0.48 | 3.04 | 5.05 | 4.54 | 1.94 | 10.24 | 4.11 | 7.56 | 4.71 | 12.91 | 10.09 | 9.97 |
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 | 863 | 865 | 881 | 932 | 1,036 | 974 | 1,209 | 1,460 | 1,458 | 1,501 | 1,674 | 1,792 | 1,873 |
| Expenses | 783 | 785 | 764 | 814 | 909 | 871 | 1,014 | 1,234 | 1,305 | 1,345 | 1,495 | 1,560 | 1,603 |
| Operating Profit | 80 | 80 | 117 | 118 | 128 | 103 | 195 | 226 | 152 | 157 | 179 | 233 | 269 |
| OPM % | 9% | 9% | 13% | 13% | 12% | 11% | 16% | 15% | 10% | 10% | 11% | 13% | 14% |
| Other Income | 21 | 43 | 22 | 44 | 24 | 46 | 22 | 8 | 24 | 14 | 15 | 23 | 33 |
| Interest | 38 | 40 | 34 | 22 | 15 | 15 | 10 | 9 | 21 | 25 | 17 | 18 | 16 |
| Depreciation | 25 | 25 | 26 | 28 | 29 | 31 | 33 | 33 | 34 | 37 | 36 | 37 | 38 |
| PBT | 39 | 57 | 79 | 112 | 107 | 103 | 175 | 193 | 122 | 109 | 142 | 200 | 249 |
| Tax % | 7% | 0% | 30% | 30% | 30% | 33% | 34% | 34% | 12% | 33% | 34% | 32% | — |
| Net Profit | 90 | 192 | 205 | 176 | 172 | 170 | 279 | 303 | 124 | 106 | 181 | 306 | 327 |
| EPS (₹) | 10.39 | 22.21 | 23.63 | 20.31 | 19.89 | 19.56 | 32.16 | 34.95 | 14.28 | 12.18 | 20.84 | 35.27 | 37.68 |
| Div. Payout % | 3% | 2% | 2% | 2% | 3% | 3% | 3% | 3% | 7% | 6% | 0% | 0% | — |
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 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves | 602 | 2,514 | 2,707 | 2,877 | 3,044 | 3,201 | 3,475 | 3,750 | 3,875 | 4,052 | 4,224 | 4,513 |
| Borrowings | 413 | 363 | 336 | 213 | 187 | 238 | 152 | 224 | 308 | 242 | 258 | 171 |
| Other Liabilities | 140 | 173 | 211 | 217 | 224 | 266 | 332 | 312 | 273 | 273 | 292 | 284 |
| Total Liabilities | 1,164 | 3,059 | 3,263 | 3,315 | 3,464 | 3,713 | 3,968 | 4,294 | 4,465 | 4,575 | 4,783 | 4,977 |
| Fixed Assets | 407 | 407 | 424 | 424 | 443 | 467 | 472 | 523 | 563 | 565 | 559 | 557 |
| CWIP | 10 | 22 | 11 | 10 | 5 | 21 | 36 | 19 | 12 | 6 | 5 | 17 |
| Investments | 261 | 2,129 | 2,270 | 2,366 | 2,477 | 2,602 | 2,817 | 3,053 | 3,058 | 3,172 | 3,340 | 3,485 |
| Other Assets | 487 | 501 | 558 | 515 | 539 | 624 | 643 | 699 | 832 | 832 | 879 | 918 |
| Total Assets | 1,164 | 3,059 | 3,263 | 3,315 | 3,464 | 3,713 | 3,968 | 4,294 | 4,465 | 4,575 | 4,783 | 4,977 |
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 | 89 | 79 | 47 | 126 | 88 | 36 | 190 | 88 | -43 | 135 | 133 | 201 |
| Investing | -15 | 6 | -9 | 13 | -33 | -63 | -73 | -138 | -27 | -21 | -108 | -37 |
| Financing | -77 | -57 | -48 | -150 | -36 | 27 | -104 | 63 | 54 | -100 | -11 | -114 |
| Net Cash Flow | -3 | 28 | -9 | -12 | 20 | 0 | 14 | 13 | -17 | 14 | 14 | 50 |
| Free Cash Flow | 69 | 40 | 58 | 127 | 45 | -30 | 136 | 21 | -109 | 102 | 104 | 150 |
| CFO/EBITDA | 113 | 95 | 27 | 101 | 62 | 45 | 103 | 45 | -24 | 92 | 82 | 94 |
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 | 30 | 30 | 30 | 35 | 33 | 31 | 28 | 23 | 15 | 17 | 22 | 18 |
| Inventory Days | 195 | 202 | 256 | 207 | 194 | 264 | 217 | 203 | 273 | 262 | 232 | 235 |
| Days Payable | 28 | 50 | 46 | 36 | 33 | 50 | 48 | 26 | 11 | 13 | 17 | 11 |
| Cash Conversion Cycle | 198 | 183 | 239 | 206 | 194 | 246 | 197 | 200 | 277 | 267 | 237 | 242 |
| Working Capital Days | 14 | 13 | 11 | 49 | 34 | 36 | 43 | 33 | 62 | 70 | 75 | 80 |
| ROCE % | 7% | 4% | 3% | 4% | 4% | 3% | 5% | 5% | 3% | 3% | 4% | 5% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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62 extracted metrics + investor summaries across FY11–FY27.
Documents
Frequently Asked Questions about Ramco Industries
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Company Information
Part of the Chennai-based Ramco Group; Ramco Industries Ltd. is engaged in the manufacture of Fiber Cement (FC) sheets and Calcium Silicate Boards (CSBs). Company is also engaged in the spinning of cotton yarn; sale of surplus electricity generated from its windmills and computer software.
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