Ramco Industries logo

Ramco Industries

RAMCOIND NSE

Key Fundamentals

MicrocapConstruction MaterialsConstruction
Market Cap
₹2,706 Cr
Volatility
Moderate
P/E Ratio
8.55
EBITDA
₹247 Cr
Return on Equity
3%
Debt to Equity
0.04
Book Value
₹520.72
EPS
₹12.15
52W High
₹398.05
52W Low
₹230.65

Tapetide Score

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

Key Insights

Strengths

4
  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.62 times its book value
  • Market value of investments Rs.5,334 Cr. is more than the Market Cap Rs.2,798 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.

Growth Rate

Revenue Growth
6.97% lower than 3Y
Net Income Growth
44.87% higher than 3Y
Cash Flow Change
50.9% higher than 3Y
ROE
35.75% higher than 3Y
ROCE
29.75% lower than 3Y
EBITDA Margin (Avg.)
18.66% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 69d ago
AI opinion · based on fundamentals
Risk medium

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%.

Bull Case 8
  • 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
Bear Case 8
  • 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

Anthropic anthropic claude-opus-4.6 69d ago
Neutral 1
  • 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 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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 in Rs
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
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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 in Rs
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%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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/OP
113
95
27
101
62
45
103
45
-24
92
82
94
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

Beta

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

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Shareholding Pattern

FIIs1.00%Promot.54.83%DIIs3.34%Others6.05%Public34.77%As ofJun 2026
1.05% of promoter holding pledged as of Jun 2026

Documents

Frequently Asked Questions about Ramco Industries

What does Ramco Industries Ltd do?
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.
Where is Ramco Industries Ltd (RAMCOIND) listed?
Ramco Industries Ltd trades as RAMCOIND on the NSE and under code 532369 on the BSE.
Which sector does Ramco Industries Ltd belong to?
Ramco Industries Ltd is classified under the Construction sector, in the Construction Materials industry.
What is the market capitalisation of Ramco Industries Ltd?
Ramco Industries Ltd has a market capitalisation of ₹2,706 Cr, which places it in the Small Cap band.
What is the PE ratio of Ramco Industries Ltd?
Ramco Industries Ltd trades at a PE ratio of 8.55, on earnings per share of ₹12.15, against a book value of ₹520.72 per share.
What is the 52-week high and low of Ramco Industries Ltd?
Over the last 52 weeks Ramco Industries Ltd has traded between ₹230.65 and ₹398.05.
Does Ramco Industries Ltd pay dividends?
Ramco Industries Ltd has a dividend yield of 0.39%.
What is the Return on Equity (ROE) of Ramco Industries Ltd?
Ramco Industries Ltd reported a return on equity of 3.00%. Its debt-to-equity ratio is 0.04.

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.

Website ramcoindltd.com
CEO Mr. Prem G. Shanker B.Tech., M.S.
Employees 1,096
Listed 1996-11-06
Face Value ₹ 1
Issued Size 8,68,41,560

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