Ramco Industries Limited (RAMCOIND) AI Stock Analysis

Ramco Industries Limited

(NSE:RAMCOIND)

Select Model

Rating:76Outperform

Price Target:INR 322.00▲(13.14% Upside)

Action:reiterated

Date:08/11/26

The score is driven primarily by solid financial quality led by a conservatively levered balance sheet, offset by profitability and cash-flow inconsistency. Technicals add support given a strong uptrend with positive momentum indicators, while valuation is modestly favorable due to a low P/E but limited by a very low dividend yield.

Positive Factors

Conservative balance sheetVery low leverage and a steadily growing equity base provide financial resilience. Declining debt preserves flexibility to fund construction-material demand, manage weaker operating periods, and pursue opportunities without excessive balance-sheet strain.

Negative Factors

Margin compressionThe multi-year decline in margins shows that earlier profitability has not been consistently sustained. Continued compression could reduce the benefit of revenue growth, limit internally funded investment, and leave earnings more exposed to operating cost or pricing pressure.

Ramco Industries Limited (RAMCOIND) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 24.64B
Dividend Yield: 0.44%
Average Volume (3M): 24.06K
Price to Earnings (P/E): 7.5
Beta (1Y): 0.96
Revenue Growth: 13.85%
EPS Growth: 57.79%
Country: India
Employees: 1,775
Sector: General
Sector Strength: 55
Industry: Construction Materials

Ramco Industries Limited Business Overview & Revenue Model

Company Description

Ramco Industries Limited is an Indian company with diversified operations, primarily focused on building materials, textiles, and renewable energy. Its building products division manufactures fiber cement sheets, calcium silicate boards, various acce...

Ramco Industries Limited Financial Statement Overview

Summary

Strong balance sheet strength (very low leverage and growing equity) supports resilience, but operating performance is mixed with margin compression versus 2021–2022 peaks and uneven cash flow history (notably negative OCF/FCF in 2023) despite improvement in 2025–2026.

Income Statement

72Positive

Balance Sheet

85Very Positive

Cash Flow

66Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	18.70B	17.92B	16.50B	14.95B	14.52B	14.57B
Gross Profit	7.12B	6.09B	3.48B	4.77B	4.83B	5.57B
EBITDA	2.81B	2.40B	1.95B	1.67B	1.72B	2.34B
Net Income	3.27B	3.06B	1.81B	1.06B	1.24B	3.03B
Balance Sheet
Total Assets	0	49.77B	47.83B	45.75B	44.65B	42.94B
Cash, Cash Equivalents and Short-Term Investments	1.37B	1.54B	877.55M	794.32M	601.47M	799.90M
Total Debt	0	1.71B	2.58B	2.44B	3.10B	2.26B
Total Liabilities	-45.22B	4.55B	5.50B	5.14B	5.81B	5.36B
Stockholders Equity	45.22B	45.22B	42.33B	40.61B	38.84B	37.59B
Cash Flow
Free Cash Flow	805.90M	1.62B	1.02B	936.81M	-1.21B	36.84M
Operating Cash Flow	987.70M	2.01B	1.32B	1.35B	-433.00M	883.31M
Investing Cash Flow	-68.20M	-374.80M	-1.07B	-214.08M	-273.31M	-1.38B
Financing Cash Flow	-961.30M	-1.14B	-106.80M	-996.93M	538.37M	626.64M

Ramco Industries Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price284.60

Price Trends

50DMA313.42Negative

100DMA323.14Negative

200DMA304.19Negative

Market Momentum

MACD-8.48Negative

RSI39.60Neutral

STOCH24.80Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RAMCOIND, the sentiment is Negative. The current price of 284.60 is below the 20-day moving average (MA) of 292.70, below the 50-day MA of 313.42, and below the 200-day MA of 304.19, indicating a bearish trend. The MACD of -8.48 indicates Negative momentum. The RSI at 39.60 is Neutral, neither overbought nor oversold. The STOCH value of 24.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:RAMCOIND.

Ramco Industries Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:RAMCOIND against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:RAMCOIND	76Outperform	INR 24.72B	7.51	―	0.44%	13.85%	57.79%
IN:KAJARIACER	70Outperform	INR 174.30B	29.23	―	1.62%	14.20%	66.86%
IN:SUPREMEIND	68Neutral	INR 400.26B	35.41	―	1.17%	16.64%	33.27%
IN:PRINCEPIPE	61Neutral	INR 28.34B	27.75	―	0.39%	5.10%	347.36%
IN:ASTRAL	57Neutral	INR 359.32B	62.62	―	0.30%	16.79%	18.82%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:FINPIPE	52Neutral	INR 85.13B	13.77	―	1.46%	2.80%	26.35%

* General Sector Average

Performance Comparison

IN:RAMCOIND and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:RAMCOIND	Ramco Industries Limited	284.60	-77.48	-21.40%
IN:ASTRAL	Astral Limited	1337.50	-139.76	-9.46%
IN:FINPIPE	Finolex Industries Limited	137.20	-47.56	-25.74%
IN:KAJARIACER	Kajaria Ceramics Limited	1109.15	-57.99	-4.97%
IN:PRINCEPIPE	Prince Pipes And Fittings Ltd	256.35	-65.97	-20.47%
IN:SUPREMEIND	Supreme Industries Limited	3151.00	-737.98	-18.98%

Ramco Industries Limited Corporate Events

Ramco Industries Files SEBI Compliance Certificate on Share Dematerialisation

Oct 8, 2026

Ramco Industries Limited has submitted a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30 September 2026, as confirmed by its registrar and share transfer agent, Came...

Ramco Industries Details Proceedings of 61st AGM Held via Video Conferencing

Aug 20, 2026

Ramco Industries Limited has reported that its 61st Annual General Meeting was held on August 20, 2026, via video conferencing, with proceedings formally communicated to the National Stock Exchange of India and BSE. The meeting, which ran from 11:30...

Ramco Industries Posts Strong Q1 FY27 Results, Boosts Disclosure Access

Aug 12, 2026

Ramco Industries reported unaudited consolidated results for the quarter ended June 30, 2026, showing revenue from operations of Rs 613.81 crore and net profit after tax of Rs 79.21 crore, with total comprehensive income at Rs 84.07 crore. Standalone...

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.

Date of analysis: Aug 11, 2026

Ramco Industries Limited AI Stock Analysis