SANGHIIND

Sanghi Industries Ltd.

Cement manufacturer with clinker and grinding capacity

Commodities›Construction Materials›Cement & Cement Products›Cement & Cement Products

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Key metrics

Price as of 2026-04-02

Stock price
₹49.88
Market cap
1,288 Cr
Stock P/E
Loss (TTM EPS ₹-16.43)
P/B
3.07
ROE (FY25)
-81.4%
ROCE (FY25)
-7.5%
Operating margin (FY25)
-15.6%
Debt / equity (FY25)
4.06
OCF / EBITDA (FY25)
-371.1%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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What you need to know

Sanghi Industries makes cement and clinker in India, with installed capacity of 6.1 million tonnes a year (September 2025), and is now run under the Adani Cement group, whose platform is led by Ambuja Cements.

Company snapshot

21stBy market cap

Ranked among 32 companies in Cement & Cement Products.

What we see

Positives
  • ✓Debt-to-equity of 0.08x — the company is largely funded by its own money, not borrowed funds.
Concerns
  • ✗Net margin is negative — the company is spending more than it earns right now.
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Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricMar 2023Jun 2023Sept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025
Sales226 Cr167 Cr181 Cr189 Cr285 Cr223 Cr152 Cr259 Cr335 Cr245 Cr285 Cr275 Cr
Operating expenses (approx.)238 Cr263 Cr209 Cr212 Cr226 Cr228 Cr148 Cr229 Cr299 Cr220 Cr260 Cr252 Cr
EBITDA-13 Cr-96 Cr-28 Cr-23 Cr59 Cr-5 Cr3 Cr30 Cr36 Cr25 Cr25 Cr23 Cr
OPM %-5.6%-57.7%-15.4%-12.0%20.6%-2.3%2.0%11.7%10.9%10.4%8.7%8.3%
Other income1 Cr4 Cr5 Cr1 Cr3 Cr8 Cr12 Cr4 Cr11 Cr2 Cr4 Cr9 Cr
Interest70 Cr73 Cr78 Cr90 Cr42 Cr48 Cr54 Cr58 Cr66 Cr54 Cr53 Cr52 Cr
Depreciation23 Cr24 Cr27 Cr31 Cr25 Cr43 Cr36 Cr37 Cr98 Cr90 Cr93 Cr95 Cr
Profit before tax-105 Cr-189 Cr-39 Cr-201 Cr-19 Cr-89 Cr-196 Cr-60 Cr-117 Cr-75 Cr-117 Cr-115 Cr
Tax %0.0%0.0%0.0%-0.1%0.0%0.0%0.0%-61.0%0.0%0.0%0.0%0.0%
Net profit-105 Cr-189 Cr-39 Cr-202 Cr-19 Cr-89 Cr-196 Cr-97 Cr-117 Cr-75 Cr-117 Cr-115 Cr
EPS (₹)₹-4.14₹-7.33₹-1.50₹-7.80₹-0.74₹-3.44₹-7.58₹-3.75₹-4.53₹-2.92₹-4.51₹-4.47

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales1,102 Cr1,052 Cr1,061 Cr888 Cr939 Cr1,129 Cr928 Cr821 Cr969 CrSign in free for the trailing twelve months
Operating expenses (approx.)904 Cr836 Cr907 Cr695 Cr699 Cr938 Cr942 Cr909 Cr902 CrSign in free for the trailing twelve months
EBITDA198 Cr216 Cr154 Cr193 Cr241 Cr192 Cr-14 Cr-88 Cr67 CrSign in free for the trailing twelve months
OPM %18.0%20.5%14.5%21.7%25.6%17.0%-1.5%-10.7%6.9%Sign in free for the trailing twelve months
Other income2 Cr22 Cr27 Cr12 Cr9 Cr11 Cr19 Cr13 Cr39 CrSign in free for the trailing twelve months
Interest64 Cr72 Cr57 Cr78 Cr73 Cr82 Cr238 Cr284 Cr228 CrSign in free for the trailing twelve months
Depreciation73 Cr72 Cr71 Cr62 Cr64 Cr64 Cr93 Cr107 Cr218 CrSign in free for the trailing twelve months
Profit before tax63 Cr93 Cr53 Cr65 Cr113 Cr57 Cr-326 Cr-449 Cr-462 CrSign in free for the trailing twelve months
Tax %—0.0%0.0%0.0%30.6%28.4%0.0%-0.0%-8.0%Sign in free for the trailing twelve months
Net profit63 Cr93 Cr53 Cr65 Cr78 Cr41 Cr-326 Cr-449 Cr-498 CrSign in free for the trailing twelve months
EPS (₹)₹2.87₹4.14₹2.10₹2.60₹3.11₹1.62₹-12.88₹-17.37₹-19.29Sign in free for the trailing twelve months
Dividend payout %————0.0%0.0%———Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Equity capital220 Cr251 Cr251 Cr251 Cr251 Cr251 Cr258 Cr258 Cr258 Cr
Reserves894 Cr1,347 Cr1,399 Cr1,464 Cr1,543 Cr1,583 Cr1,301 Cr852 Cr354 Cr
Borrowings587 Cr714 Cr756 Cr1,139 Cr1,343 Cr1,378 Cr1,531 Cr2,081 Cr2,485 Cr
Other liabilities365 Cr343 Cr427 Cr550 Cr468 Cr603 Cr620 Cr436 Cr636 Cr
Total liabilities2,066 Cr2,654 Cr2,834 Cr3,404 Cr3,604 Cr3,816 Cr3,710 Cr3,628 Cr3,733 Cr
Fixed assets (net)1,452 Cr1,509 Cr1,605 Cr1,706 Cr1,652 Cr3,163 Cr3,117 Cr3,185 Cr3,090 Cr
CWIP167 Cr294 Cr437 Cr1,004 Cr1,338 Cr42 Cr42 Cr4 Cr149 Cr
Investments——0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0.51 Cr
Inventories187 Cr147 Cr237 Cr357 Cr351 Cr324 Cr296 Cr138 Cr315 Cr
Trade receivables24 Cr32 Cr44 Cr39 Cr49 Cr93 Cr52 Cr0 Cr58 Cr
Cash & bank0.17 Cr0.41 Cr0.45 Cr2 Cr1 Cr0.14 Cr0.92 Cr173 Cr22 Cr
Other assets236 Cr672 Cr510 Cr296 Cr213 Cr194 Cr201 Cr128 Cr98 Cr
Total assets2,066 Cr2,654 Cr2,834 Cr3,404 Cr3,604 Cr3,816 Cr3,710 Cr3,628 Cr3,733 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from operating activity76 Cr222 Cr98 Cr71 Cr302 Cr402 Cr-25 Cr-243 Cr-249 Cr
Cash from investing-8 Cr-684 Cr-112 Cr-471 Cr-342 Cr-298 Cr29 Cr234 Cr-128 Cr
Cash from financing-68 Cr463 Cr14 Cr401 Cr39 Cr-105 Cr-3 Cr182 Cr225 Cr
Net cash flow-0.08 Cr0.24 Cr0.05 Cr2 Cr-1 Cr-1 Cr0.78 Cr172 Cr-152 Cr
Free cash flow (OCF − Capex)0.79 Cr-67 Cr-302 Cr-526 Cr-67 Cr109 Cr-42 Cr-300 Cr-397 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
ROCE %7.5%7.2%4.6%5.0%5.9%4.3%-2.8%-5.2%-7.5%
ROE %5.7%5.8%3.2%3.8%4.4%2.2%-20.9%-40.4%-81.4%
Debtor days8111516193020022
Inventory days95673196913582236192517127311124
Days payable72865878950687816101964233369
Cash conversion cycle236841968681377345-233499777
OCF / EBITDA %38.4%102.8%63.6%37.0%125.4%209.7%——-371.1%
OCF / EBITDA % (3 years)——69.7%69.5%80.1%124.0%162.1%148.2%—
Debt / equity0.530.450.460.660.750.750.981.874.06
Current ratio0.931.861.100.820.870.710.761.070.98
Net debt / EBITDA2.96—4.915.895.587.19——36.78