---
title: "Star Ferro & Cement Ltd(Merged) (SFCL) — Share Price, Financials & Analysis"
symbol: "SFCL"
company: "Star Ferro & Cement Ltd(Merged)"
canonical: "https://tapetide.com/stocks/SFCL"
isin: "INE935O01010"
nse_symbol: "SFCL"
sector: "Commodities"
industry: "Cement & Cement Products"
generated_at: "2026-09-13T19:03:00.664Z"
---

# Star Ferro & Cement Ltd(Merged) (SFCL)

Canonical page: https://tapetide.com/stocks/SFCL

## Company

- **NSE Symbol:** SFCL
- **ISIN:** INE935O01010
- **Sector:** Commodities
- **Industry:** Cement & Cement Products
- **Macro Sector:** Commodities
- **Stock Type:** DELISTED
- **Face Value:** ₹1
- **F&O Eligible:** No
- **Website:** starferrocement.co.in

## About

Star Ferro and Cement Limited (the Company) is a public Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in India. The Company is holding investments in its subsidiaries which are engaged in manufacture of Cement, Cement Clinker and generation of Power.(Source 2016 Annual Report)

## Latest Price

## Key Insights

### Weaknesses

- Stock is trading at 4.03 times its book value
- Tax rate seems low
- Company has a low return on equity of 8.78% over last 3 years.
- Debtor days have increased from 72.9 to 95.5 days.

## Growth Rates

| Metric | 1Y | 3Y |
| --- | --- | --- |
| net income growth | -21% | 55% |
| revenue growth | 7% | 38% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Jun 2014 | Sep 2014 | Dec 2014 | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 381 | 323 | 263 | 338 | 507 | 409 | 311 | 430 | 563 | 449 | 366 | 393 |
| Expenses | 262 | 211 | 212 | 220 | 352 | 287 | 256 | 337 | 436 | 358 | 307 | 307 |
| Operating Profit | 118 | 112 | 50 | 118 | 155 | 121 | 55 | 93 | 127 | 92 | 59 | 86 |
| OPM % | 31 | 35 | 19 | 35 | 31 | 30 | 18 | 22 | 22 | 20 | 16 | 22 |
| Other Income | 1 | 1 | -1 | 2 | -1 | 2 | 1 | 0 | 0 | 0 | 1 | 0 |
| Interest | 21 | 23 | 21 | 23 | 20 | 20 | 22 | 20 | 22 | 21 | 20 | 19 |
| Depreciation | 41 | 53 | 55 | 55 | 60 | 42 | 43 | 43 | 44 | 34 | 36 | 36 |
| Profit before tax | 58 | 36 | -27 | 41 | 74 | 61 | -8 | 29 | 61 | 37 | 4 | 31 |
| Tax % | 7 | 3 | 11 | 7 | -3 | 1 | 20 | 3 | 4 | 1 | 34 | 0 |
| Net Profit | 54 | 35 | -29 | 38 | 76 | 61 | -9 | 29 | 59 | 36 | 3 | 31 |
| EPS in Rs | 1.71 | 1.1 | -0.95 | 1.14 | 2.47 | 1.87 | -0.35 | 0.84 | 1.79 | 1.06 | 0.03 | 0.93 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | TTM |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 660 | 1173 | 1430 | 1715 | 1771 |
| Expenses | 0 | 541 | 918 | 995 | 1317 | 1408 |
| Operating Profit | 0 | 118 | 255 | 435 | 398 | 363 |
| OPM % | — | 18 | 22 | 30 | 23 | 21 |
| Other Income | 0 | 2 | 1 | 1 | 1 | 1 |
| Interest | 0 | 29 | 87 | 87 | 83 | 82 |
| Depreciation | 0 | 50 | 162 | 224 | 171 | 150 |
| Profit before tax | 0 | 41 | 8 | 125 | 144 | 133 |
| Tax % | — | 9 | 36 | 4 | 4 | — |
| Net Profit | 0 | 38 | 5 | 120 | 138 | 129 |
| EPS in Rs | — | — | 0.28 | 3.76 | 4.14 | 3.81 |
| Dividend Payout % | — | 0 | 120 | 0 | 24 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.05 | 0.05 | 22 | 22 | 22 |
| Reserves | 0 | 670 | 664 | 658 | 728 |
| Borrowings | 0 | 929 | 992 | 880 | 940 |
| Other Liabilities | 0 | 460 | 529 | 630 | 777 |
| Total Liabilities | 0 | 2060 | 2207 | 2190 | 2467 |
| Fixed Assets | 0 | 1165 | 1172 | 1028 | 919 |
| CWIP | 0 | 129 | 100 | 41 | 49 |
| Investments | 0 | 2 | 2 | 2 | 2 |
| Other Assets | 0 | 765 | 934 | 1120 | 1497 |
| Total Assets | 0 | 2060 | 2207 | 2190 | 2467 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | — | -99 | 160 | 261 | 130 |
| Cash from Investing Activity | — | 1 | -117 | -41 | -80 |
| Cash from Financing Activity | — | 124 | -59 | -210 | -46 |
| Net Cash Flow | — | 26 | -16 | 10 | 4 |
| Free Cash Flow | — | -338 | 41 | 217 | 49 |
| CFO/OP | — | -73 | 63 | 65 | 40 |

### Ratios

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- |
| Debtor Days | — | 24 | 44 | 79 | 96 |
| Inventory Days | — | 576 | 289 | 174 | 221 |
| Days Payable | — | 278 | 136 | 122 | 148 |
| Cash Conversion Cycle | — | 322 | 196 | 130 | 168 |
| Working Capital Days | — | 203 | 108 | 125 | 154 |
| ROCE % | — | 8 | 5 | 11 | 12 |

## Shareholding Pattern

### annual

| Category | Dec 2016 |
| --- | --- |
| Promoters | 64.42% |
| FIIs | 0.12% |
| DIIs | 1.74% |
| Public | 33.72% |
| No. of Shareholders | 13782 |

### Quarterly

| Category | Jun 2016 | Sep 2016 | Dec 2016 |
| --- | --- | --- | --- |
| Promoters | 66.65% | 64.42% | 64.42% |
| FIIs | 0.11% | 0.12% | 0.12% |
| DIIs | 0.01% | 1.76% | 1.74% |
| Public | 33.23% | 33.7% | 33.72% |
| No. of Shareholders | 12514 | 13309 | 13782 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 6 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 29.55 | Sell |
| EMA (10) | 29.67 | Sell |
| SMA (20) | 30.25 | Sell |
| EMA (20) | 30.39 | Sell |
| SMA (50) | 34.24 | Sell |
| EMA (50) | 33.52 | Sell |
| SMA (100) | 38.33 | Sell |
| EMA (100) | 38.15 | Sell |
| SMA (200) | 46.86 | Sell |
| EMA (200) | 45.73 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 41.98 | Neutral |
| MACD (12,26,9) | -1.21 | Buy |
| Stochastic (14,3,3) | 37.85 | Neutral |
| ADX (14) | 37.31 | Buy |
| Williams %R (14) | -59.38 | Neutral |
| ATR (14) | 1.86 | High Volatility |
| ROC (12) | -2.52 | Sell |
| Stoch RSI (14) | 58.64 | Neutral |
| UO (7,14,28) | 56.08 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 24 Mar 2017 - The Company has participated in 'no-deal' road-shows at Mumbai from 21st March, 2017 to 23rd March, 2017 with the purpose of meeting Institutional Investors. At … | [Investor Meet 24 Mar 2017 - The Company has participated in 'no-deal' road-shows at Mumbai from 21st March, 2017 to 23rd March, 2017 with the purpose of meeting Institutional Investors. At …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=47d44835-20c7-4e1e-9560-43e3bbce3716.pdf) |
| 24 Mar 2017 - The Company has participated in 'no-deal' road-shows at Mumbai from 21st March, 2017 to 23rd March, 2017 with the purpose of meeting Institutional Investors. At … | [Investor Meet 24 Mar 2017 - The Company has participated in 'no-deal' road-shows at Mumbai from 21st March, 2017 to 23rd March, 2017 with the purpose of meeting Institutional Investors. At …](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/3/47d44835-20c7-4e1e-9560-43e3bbce3716.pdf) |
| — | [Outcome of Board Meeting 8 Apr 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c544e2e0-e5d2-4563-8939-1d019dc32470.pdf) |
| — | [Outcome of Board Meeting 8 Apr 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/4/c544e2e0-e5d2-4563-8939-1d019dc32470.pdf) |
| — | [Fixation Of Record Date By Star Cement Limited ('Transferee Company') 22 Mar 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=fb0e0f6d-18c2-4c1e-bd47-4a7478508b75.pdf) |
| — | [Fixation Of Record Date By Star Cement Limited ('Transferee Company') 22 Mar 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/3/fb0e0f6d-18c2-4c1e-bd47-4a7478508b75.pdf) |
| — | [Updates on Scheme of Amalgamation 22 Feb 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=33BB33B2_0E6D_45A3_A354_C08B45A7C4C7_175303.pdf) |
| — | [Updates on Scheme of Amalgamation 22 Feb 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/2/33BB33B2_0E6D_45A3_A354_C08B45A7C4C7_175303.pdf) |
| — | [Updates on Scheme of Amalgamation 13 Feb 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=E65273BF_F246_48C0_97D5_828AF7D523CB_184554.pdf) |
| — | [Updates on Scheme of Amalgamation 13 Feb 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/2/E65273BF_F246_48C0_97D5_828AF7D523CB_184554.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2016 | [Concall - Nov 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6B228F44_CDD8_4473_B516_029B392B602B_110854.pdf) |
| Nov 2015 | [Concall - Nov 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=E611842F_3BFD_41A7_8504_8C0F43A84015_121207.pdf) |
| Feb 2017 | [Concall - Feb 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=F27F7841_88A9_441C_9708_0C4F350B2C96_183216.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/536666/5366660316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/536666/5366660315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/536666/5366660314.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/536666/5366660313.pdf) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/HIS_ANN_RPT/HISTANNR/2012/STAR_FERRO_&_CEMENT_LTD-536666-MARCH-2012.PDF) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:03:00.664Z.