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Ramco Cements Limited
(RAMCOCEM)
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Rating:52Neutral
Price Target:
₹907.00
▼(-0.81% Downside)
Action:Reiterated
Date:08/24/26
The score is held up primarily by improved financial stability from a much stronger balance sheet, but is capped by weaker cash-flow quality and compressed/volatile profitability. Technical indicators also point to weak momentum (below key moving averages with negative MACD), and valuation is less supportive given a high P/E and very low dividend yield.
Positive Factors
Substantially lower leverage
The sharp reduction in leverage materially lowers financial risk and interest sensitivity. A stronger capital structure should improve resilience through cement-cycle volatility and preserve capacity to fund maintenance, expansion, or working capital.
Negative Factors
Material margin compression
The sustained decline from earlier peak margins indicates weaker earnings quality and lower operating resilience. Continued pressure from fuel, power, logistics, or pricing could limit profit conversion even when cement volumes and revenue grow.
Read all positive and negative factors
Positive Factors
Negative Factors
Substantially lower leverage
The sharp reduction in leverage materially lowers financial risk and interest sensitivity. A stronger capital structure should improve resilience through cement-cycle volatility and preserve capacity to fund maintenance, expansion, or working capital.
Read all positive factors
Ramco Cements Limited (RAMCOCEM) vs. iShares MSCI India ETF (INDA)
Market Cap
₹208.47B
Dividend Yield0.29%
Average Volume (3M)61.63K
Price to Earnings (P/E)32.3
Beta (1Y)0.91
Revenue Growth8.58%
EPS Growth101.19%
CountryIN
Employees3,890
SectorGeneral
Sector StrengthN/A
IndustryConstruction Materials
Share Statistics
EPS (TTM)27.28
Shares Outstanding236,292,370
10 Day Avg. Volume19,189
30 Day Avg. Volume61,627
Financial Highlights & Ratios
PEG Ratio0.20
Price to Book (P/B)2.69
Price to Sales (P/S)2.41
P/FCF Ratio100.03
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹900.00Price Target Upside-1.57% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)11.92
Revenue Forecast (FY)₹100.44B
Ramco Cements Limited Business Overview & Revenue Model
Company Description
Based in Chennai, India, The Ramco Cements Limited was established in 1957. The company is a key player in the Indian construction materials sector, producing and distributing a wide array of products including cement, ready-mix concrete, and dry ...
How the Company Makes Money
Ramco Cements primarily makes money by manufacturing cement and selling it through a mix of trade channels (dealers/retail network) and institutional customers (such as contractors and infrastructure-related buyers). Its core revenue stream is the...
Ramco Cements Limited Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
74
Positive
Cash Flow
49
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 92.28B | 90.29B | 85.18B | 93.76B | 81.57B | 60.04B |
| Gross Profit | 37.42B | 37.26B | 45.30B | 49.29B | 40.17B | 36.09B |
| EBITDA | 17.50B | 12.97B | 12.38B | 15.69B | 11.91B | 12.97B |
| Net Income | 6.45B | 6.99B | 2.73B | 3.60B | 3.15B | 8.81B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 166.36B | 163.29B | 162.73B | 145.95B | 131.59B |
| Cash, Cash Equivalents and Short-Term Investments | 1.88B | 2.27B | 2.09B | 1.24B | 1.63B | 1.46B |
| Total Debt | 0.00 | 38.71B | 46.75B | 49.37B | 45.07B | 39.50B |
| Total Liabilities | -80.94B | 85.33B | 88.87B | 90.31B | 77.27B | 65.33B |
| Stockholders Equity | 80.94B | 80.94B | 74.42B | 72.38B | 68.61B | 66.19B |
Cash Flow | ||||||
| Free Cash Flow | 451.30M | 2.17B | 3.75B | -170.10M | -3.54B | -6.82B |
| Operating Cash Flow | 6.46B | 12.17B | 13.99B | 19.06B | 14.12B | 11.35B |
| Investing Cash Flow | -5.45B | -3.48B | -5.42B | -19.11B | -16.94B | -18.16B |
| Financing Cash Flow | -2.03B | -8.52B | -7.82B | -280.30M | 2.74B | 7.15B |
Ramco Cements Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹3.34T | 39.30 | ― | 2.15% | 19.07% | 21.21% | |
68 Neutral | ₹328.01B | 35.19 | ― | 0.53% | 7.60% | -0.22% | |
62 Neutral | ₹241.02B | 12.66 | ― | 0.59% | 15.35% | -21.06% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹208.47B | 32.33 | ― | 0.29% | 8.58% | 101.19% | |
48 Neutral | ₹169.19B | 21.66 | ― | 0.41% | ― | ― | |
44 Neutral | ₹112.38B | 121.57 | ― | 0.35% | 6.79% | ― |
* General Sector Average
IN:RAMCOCEM
Ramco Cements Limited
870.95
-180.82
-17.19%
IN:ACC
ACC Limited
1,262.80
-576.81
-31.36%
IN:DALBHARAT
Dalmia Bharat Ltd.
1,699.45
-700.15
-29.18%
IN:INDIACEM
India Cements Ltd.
354.00
-37.50
-9.58%
IN:ULTRACEMCO
UltraTech Cement Limited
11,050.00
-1,268.95
-10.30%
IN:JSWCEMENT
JSW Cement Limited
121.60
-26.40
-17.84%
Ramco Cements Limited Corporate Events
Ramco Cements Details Virtual 68th Annual General Meeting Proceedings
Aug 20, 2026
Ramco Cements Limited, a leading cement producer headquartered in Tamil Nadu, serves India’s construction and infrastructure sectors through its cement and related building materials. Listed on BSE and NSE, the company operates under SEBI...
Ramco Cements Moves to Digital Annual Report Access, Proposes Rs.2.50 Dividend
Jul 22, 2026
Ramco Cements Limited has begun dispatching physical communications to shareholders who have not registered email addresses, providing the web link and navigation path to access its Integrated Annual Report for the 2025-26 financial year. The comp...
Ramco Cements Board Confirms Senior Management Line-Up, Emphasising Leadership Continuity
Jun 20, 2026
The Ramco Cements Limited has formalised and disclosed its list of senior management personnel, following approval by the board of directors at a meeting held on 22 May 2026. The disclosure, made in line with SEBI’s listing and corporate dis...
Ramco Cements Schedules One-to-One Investor Meet in Mumbai
May 25, 2026
The Ramco Cements Limited has announced that it will hold a one-to-one investor meet on 28 May 2026 at the Grand Hyatt in Bandra, Mumbai, organised by 360 ONE Capital Market Private Limited. The meeting will involve several major institutional inv...
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.