Star Cement Ltd logo

Star Cement Ltd

STARCEMENT NSE

Key Fundamentals

MicrocapCementConstruction
Market Cap
₹8,098 Cr
Volatility
Moderate
P/E Ratio
21.7
EBITDA
₹925 Cr
Return on Equity
5.86%
Debt to Equity
0.19
Book Value
₹78.95
EPS
₹5.76
52W High
₹308.95
52W Low
₹195.91

Insights

Beta

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

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49 extracted metrics + investor summaries across FY09–FY26.

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Tapetide Score

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

Technical Indicators

Key Insights

Weaknesses

3
  • Stock is trading at 2.52 times its book value
  • Company has a low return on equity of 10.3% over last 3 years.
  • Promoter holding has decreased over last 3 years: -8.66%

Growth Rate

Revenue Growth
18.98% ↗
Net Income Growth
154.85% ↗
Cash Flow Change
-39.47% ↘
ROE
-46.19% ↗
ROCE
-48.16% ↗
EBITDA Margin (Avg.)
31.25% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 42d ago
AI opinion · based on fundamentals
Risk medium

Star Cement Ltd is a northeast India-focused cement company with a market cap of ₹8,564 crore, trading at a P/E of 21.7x. FY26 revenue grew 19% YoY to ₹3,776 crore and PAT surged 131% YoY to ₹390 crore, driven by capacity expansion toward 10 MTPA, though the stock has delivered -1% returns over the past year and promoter holding has declined by ~9% over three years.

Bull Case 8
  • FY26 revenue grew 19% YoY to ₹3,776 crore, demonstrating strong top-line momentum after a 12% sales CAGR over 3 years
  • FY26 PAT surged 131% YoY to ₹390 crore, with compounded profit growth of 138% on a TTM basis indicating a sharp earnings recovery
  • FY26 EBITDA jumped 60% YoY to ₹955 crore, reflecting significant operating leverage as new capacity ramps up
  • Capacity expansion from 7.7 MTPA to a targeted 10 MTPA by FY26, with new clinker units in Meghalaya and grinding units across multiple states providing volume growth runway
  • Planned CapEx of ₹4,800 crore over 3-4 years with strategic entry into North India (Rajasthan, Haryana, Bihar) diversifies geographic concentration risk
  • 5-year compounded sales CAGR of 17% and profit CAGR of 10% demonstrate consistent long-term growth track record
  • UltraTech acquired 8.69% stake from promoters in December 2024 for ₹851 crore, signaling strategic interest from India's largest cement maker
  • Signed 18 MW group captive PPA with JSW Green Energy, potentially reducing power costs which are a major input for cement production
Bear Case 8
  • 3-year average ROE is only 10.3%, below the cost of equity for most investors, indicating suboptimal capital efficiency
  • Promoter holding has decreased by 8.99% over three years, raising governance and commitment concerns despite the UltraTech transaction
  • Stock is trading at 2.66x book value despite the low ROE of 10.3%, suggesting the valuation already prices in future growth
  • 1-year stock CAGR is -1%, underperforming the broader market despite strong reported earnings growth
  • Q3 FY25 saw EBITDA decline 30% YoY to ₹107 crore and PAT collapse 87% YoY to ₹9 crore, showing earnings volatility during expansion phases
  • Heavy CapEx of ₹4,800 crore over 3-4 years could strain the balance sheet and suppress free cash flow in the medium term
  • Dividend yield of just 0.95% offers limited income support while the company deploys capital into expansion
  • Geographic expansion into North India pits Star Cement against larger, well-entrenched players like UltraTech, Ambuja, and Shree Cement in highly competitive markets

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 42d ago
Neutral 1
  • Preferred bidder for Assam mine Jun 24

    Star Cement declared preferred bidder for Boro Lakhindong (West Block) limestone mine in Assam, spanning 123 hectares with estimated 207.822 million tonnes of limestone resources.

TL;DR: Limited news flow for Star Cement this period. The company secured preferred bidder status for a large limestone mine in Assam, which could strengthen long-term raw material security but has no immediate financial impact. No visible headwinds or catalysts in the near term; watch for mine allocation formalization and capacity expansion updates.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
760
585
651
914
751
642
719
1,052
912
811
880
1,174
943
Expenses
631
487
503
734
635
546
615
789
684
621
678
858
748
Operating Profit
129
99
149
180
116
96
104
263
228
190
202
315
194
OPM %
17%
17%
23%
20%
15%
15%
14%
25%
25%
23%
23%
27%
21%
Other Income
9
6
4
8
1
2
3
5
2
3
-1
3
8
Interest
2
3
3
4
6
7
10
9
10
11
12
13
14
Depreciation
32
36
37
42
73
83
89
88
85
90
91
99
91
PBT
104
65
113
141
39
8
8
171
135
92
99
207
98
Tax %
10%
38%
35%
38%
21%
25%
-19%
28%
27%
23%
25%
29%
24%
Net Profit
93
41
74
88
31
6
9
123
98
71
74
147
74
EPS in Rs
2.31
1.01
1.82
2.17
0.77
0.14
0.22
3.05
2.44
1.78
1.85
3.66
1.85
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,430
1,715
1,528
1,615
1,831
1,843
1,720
2,222
2,705
2,911
3,163
3,776
3,807
Expenses
994
1,316
1,119
1,093
1,382
1,449
1,387
1,877
2,236
2,353
2,585
2,841
2,905
Operating Profit
436
399
408
521
449
394
333
345
468
557
579
936
902
OPM %
31%
23%
27%
32%
25%
21%
19%
16%
17%
19%
18%
25%
24%
Other Income
1
1
2
4
5
29
-36
33
52
25
10
8
14
Interest
87
83
78
52
14
9
7
13
10
13
32
46
50
Depreciation
224
171
118
121
106
93
90
122
131
147
332
365
372
PBT
126
145
215
353
335
322
199
244
380
424
226
532
495
Tax %
4%
4%
6%
5%
9%
11%
6%
-1%
35%
30%
25%
27%
—
Net Profit
121
139
195
336
305
287
187
247
248
295
169
390
366
EPS in Rs
28.3
3.2
4.64
7.89
7.13
6.92
4.54
6.11
6.13
7.3
4.18
9.73
9.14
Div. Payout %
28%
0%
0%
13%
0%
14%
0%
0%
0%
0%
0%
10%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
42
42
42
42
42
41
41
40
40
40
40
40
Reserves
879
1,013
1,104
1,434
1,682
1,816
2,033
2,128
2,376
2,670
2,839
3,151
Borrowings
880
940
801
432
74
13
18
16
35
147
403
603
Other Liabilities
388
471
534
597
499
488
470
561
680
745
825
852
Total Liabilities
2,190
2,466
2,480
2,506
2,297
2,358
2,562
2,745
3,131
3,602
4,107
4,647
Fixed Assets
1,028
919
863
785
722
696
823
923
891
1,416
2,421
2,612
CWIP
41
49
55
36
74
238
127
109
551
1,022
220
95
Investments
2
2
1
1
2
2
2
167
173
2
2
258
Other Assets
1,119
1,496
1,561
1,684
1,498
1,423
1,611
1,545
1,517
1,163
1,464
1,682
Total Assets
2,190
2,466
2,480
2,506
2,297
2,358
2,562
2,745
3,131
3,602
4,107
4,647
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
262
97
300
421
616
483
350
417
358
490
296
765
Investing
-41
-79
-89
-25
-193
-136
-333
-289
-255
-650
-529
-843
Financing
-210
-14
-218
-393
-348
-201
-3
-176
10
86
224
52
Net Cash Flow
11
4
-7
2
76
146
14
-47
114
-74
-8
-27
Free Cash Flow
218
16
211
388
536
256
243
220
-211
-546
-279
278
CFO/OP
65
31
80
93
150
135
114
131
91
102
63
93
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
79
96
33
33
29
24
28
21
14
19
23
23
Inventory Days
174
221
173
356
232
233
212
124
400
255
314
343
Days Payable
122
148
101
228
105
87
89
135
297
166
164
189
Cash Conversion Cycle
130
168
105
161
156
171
151
10
117
107
173
177
Working Capital Days
20
34
136
162
109
93
87
30
-1
-14
10
15
ROCE %
12%
12%
14%
20%
18%
17%
13%
12%
17%
16%
8%
17%

Shareholding Pattern

As of Jun 2026
Promoters 58.10%
Others 30.52%
Public 6.71%
DIIs 2.38%
FIIs 2.29%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
67.11%
66.21%
66.89%
67.06%
67.33%
67.37%
67.43%
67.03%
67.12%
66.76%
66.55%
66.48%
66.59%
66.49%
66.47%
57.69%
57.67%
57.66%
57.59%
57.62%
58.12%
58.10%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.77%
0.00%
1.52%
1.60%
1.36%
1.19%
2.02%
2.24%
2.96%
2.47%
2.27%
2.29%
DIIs
7.27%
7.28%
6.08%
6.09%
5.90%
5.90%
5.90%
6.14%
6.15%
6.25%
6.13%
6.02%
6.11%
5.06%
4.98%
4.95%
5.17%
4.93%
4.38%
4.48%
2.65%
2.38%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
19.03%
19.00%
15.84%
16.11%
16.05%
15.92%
15.22%
6.42%
6.28%
6.37%
6.64%
6.44%
5.70%
6.56%
7.10%
7.31%
6.41%
6.44%
6.30%
6.57%
6.90%
6.71%
Others
6.58%
7.51%
11.19%
10.74%
10.72%
10.81%
11.46%
20.41%
20.45%
20.63%
19.90%
21.06%
20.07%
20.29%
20.09%
28.86%
28.74%
28.73%
28.77%
28.85%
30.06%
30.52%
No. of Shareholders
0
34,664
37,026
51,444
52,242
53,969
52,539
50,304
42,373
43,866
52,001
54,130
56,636
65,415
65,627
70,804
65,091
64,011
61,660
61,167
62,720
62,529

Documents

Frequently Asked Questions about Star Cement Ltd

What does Star Cement Ltd do?
Star Cements Ltd is engaged in manufacturing and selling of Cement Clinker & Cement. It sells its products across north-eastern and eastern states in India.[1] It is the largest cement manufacturer in North-east India.[2]
Where is Star Cement Ltd (STARCEMENT) listed?
Star Cement Ltd is listed on the Indian stock exchanges. It is listed on NSE: STARCEMENT and BSE: 540575. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Star Cement Ltd belong to?
Star Cement Ltd operates in the Commodities sector within the Cement & Cement Products industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Star Cement Ltd?
Star Cement Ltd has a market capitalisation of approximately ₹8098.04 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Star Cement Ltd?
The Price-to-Earnings (PE) ratio of Star Cement Ltd is 21.70. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Star Cement Ltd?
Over the past 52 weeks, Star Cement Ltd has traded between a low of ₹195.91 and a high of ₹308.95. This range helps investors understand the stock's price volatility and recent trading levels.
Does Star Cement Ltd pay dividends?
Yes, Star Cement Ltd has a dividend yield of 1.00%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Star Cement Ltd?
Star Cement Ltd has a Return on Equity (ROE) of 5.86%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Star Cement Ltd on Tapetide?
On Tapetide, you can view Star Cement Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Star Cements Ltd is engaged in manufacturing and selling of Cement Clinker & Cement. It sells its products across north-eastern and eastern states in India.[1] It is the largest cement manufacturer in North-east India.[2]

Website starcement.co.in
CEO Mr. Sajjan Bhajanka
Employees 2,274
Listed 2017-06-16
Face Value ₹ 1
Issued Size 41,24,28,997

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