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Niraj Cement Structurals Limited
(NIRAJ)
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Rating:53Neutral
Price Target:
₹29.00
▼(-22.75% Downside)
Action:Reiterated
Date:08/23/26
The score is held back mainly by weak financial quality signals—especially deeply negative operating/free cash flow in 2025–2026 and a sharp rise in debt—despite improving reported net income. Technicals also lean bearish with the stock below key moving averages and negative MACD. The primary offset is a low P/E valuation, which provides some support but does not outweigh the cash-flow and leverage risks.
Positive Factors
Improving Profitability
Improved reported profitability provides a stronger earnings base and may support reinvestment or balance-sheet rebuilding. However, the benefit is most durable if management can convert these accounting gains into consistent operating cash flow.
Negative Factors
Weak Cash Generation
Sustained negative operating and free cash flow can force reliance on borrowing or external funding, even when reported profit is rising. This weakens liquidity, limits reinvestment capacity, and raises the risk that earnings are not converting into usable cash.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Profitability
Improved reported profitability provides a stronger earnings base and may support reinvestment or balance-sheet rebuilding. However, the benefit is most durable if management can convert these accounting gains into consistent operating cash flow.
Read all positive factors
Niraj Cement Structurals Limited (NIRAJ) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.76B
Dividend YieldN/A
Average Volume (3M)18.57K
Price to Earnings (P/E)7.4
Beta (1Y)1.89
Revenue Growth6.28%
EPS Growth29.75%
CountryIN
Employees19
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)3.55
Shares Outstanding59,694,340
10 Day Avg. Volume18,875
30 Day Avg. Volume18,570
Financial Highlights & Ratios
PEG Ratio6.85
Price to Book (P/B)0.47
Price to Sales (P/S)0.23
P/FCF Ratio-1.35
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Niraj Cement Structurals Limited Business Overview & Revenue Model
Company Description
Niraj Cement Structurals Limited is an Indian enterprise specializing in the development and execution of diverse infrastructure projects. Its core activities involve building critical transportation networks such as highways, expressways, turnkey...
How the Company Makes Money
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Niraj Cement Structurals Limited Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
68
Positive
Cash Flow
27
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.42B | 5.07B | 4.71B | 6.06B | 3.56B |
| Gross Profit | 290.46M | 345.28M | 276.67M | 190.56M | 90.97M |
| EBITDA | 339.96M | 226.45M | 149.50M | 86.75M | 47.64M |
| Net Income | 211.42M | 150.82M | 97.23M | 43.27M | 24.29M |
Balance Sheet | |||||
| Total Assets | 4.67B | 3.84B | 2.25B | 3.15B | 3.13B |
| Cash, Cash Equivalents and Short-Term Investments | 318.81M | 413.29M | 229.44M | 228.12M | 371.90M |
| Total Debt | 708.21M | 22.19M | 7.24M | 259.27M | 134.61M |
| Total Liabilities | 2.01B | 1.42B | 725.36M | 1.39B | 1.33B |
| Stockholders Equity | 2.66B | 2.42B | 1.52B | 1.77B | 1.79B |
Cash Flow | |||||
| Free Cash Flow | -915.52M | -765.33M | 230.13M | -298.63M | 384.75M |
| Operating Cash Flow | -864.01M | -720.92M | 269.13M | -298.50M | 385.19M |
| Investing Cash Flow | 24.59M | -207.72M | -48.56M | 143.54M | -110.39M |
| Financing Cash Flow | 738.02M | 1.05B | -257.14M | 50.12M | -169.91M |
Niraj Cement Structurals Limited Technical Analysis
Positive
37.54
Price Trends
29.28
Positive
29.43
Positive
31.10
Negative
Market Momentum
-0.08
Negative
54.74
Neutral
71.53
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NIRAJ, the sentiment is Positive. The current price of 37.54 is above the 20-day moving average (MA) of 28.88, above the 50-day MA of 29.28, and above the 200-day MA of 31.10, indicating a neutral trend. The MACD of -0.08 indicates Negative momentum. The RSI at 54.74 is Neutral, neither overbought nor oversold. The STOCH value of 71.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:NIRAJ.
Niraj Cement Structurals Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ₹217.92B | 34.99 | ― | 0.24% | 10.02% | 46.78% | |
73 Outperform | ₹37.74B | 9.73 | ― | 0.67% | -2.47% | -6.60% | |
65 Neutral | ₹20.47B | 14.05 | ― | 1.04% | -9.31% | -73.99% | |
62 Neutral | ₹5.56T | 31.03 | ― | 1.00% | 9.78% | 13.15% | |
58 Neutral | ₹28.54B | 21.27 | ― | 0.69% | 29.11% | 13.20% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹1.76B | 7.37 | ― | ― | 6.28% | 29.75% |
* General Sector Average
IN:NIRAJ
Niraj Cement Structurals Limited
29.30
-16.68
-36.28%
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Niraj Cement Structurals Limited Corporate Events
Niraj Cement Structurals wins Rs. 256 crore Bihar infrastructure contract
Aug 5, 2026
Niraj Cement Structurals Limited has secured a work order worth Rs. 256.89 crore, including GST, from the Water Resource Department in Birpur, Bihar. The domestic contract is part of the Bihar Water Security and Irrigation Modernization Project, u...
Niraj Cement Structurals Receives Pre-Offer Advertisement for 26% Open Offer
Jul 30, 2026
Niraj Cement Structurals Limited has disclosed that it has received a pre-offer advertisement related to an open offer under SEBI’s takeover regulations, initiated by acquirer Gulshankumar Vijaykumar Chopra. The open offer aims to acquire up...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.