STARCEMENT

Star Cement Limited

Cement producer with presence in Eastern India and North-East region

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

starcement.co.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹172.18
Market cap
6,954 Cr
Stock P/E
18.8
P/B
2.19
Dividend yield
1.2%
ROE (FY26)
12.3%
ROCE (FY26)
15.3%
Operating margin (FY26)
15.1%
Debt / equity (FY26)
0.18
OCF / EBITDA (FY26)
81.7%
OCF / EBITDA (3Y)
74.9%

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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Compare with peers

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What you need to know

Star Cement makes and sells blended cement, mainly in India's Northeast and eastern states, through dealers and non-trade customers, and is building a Rajasthan plant to expand beyond that base.

Company snapshot

12thBy market cap

Ranked among 32 companies in Cement & Cement Products.

Segment mix

Reportable segments as of 2023-03-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 141.0% of revenue

SegmentRevenue shareRevenuePBTAssets
Cement
141.0%
1,164 Cr133 Cr2,644 Cr
Power
5.7%
47 Cr1 Cr171 Cr

Shares add up to 147% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓Debt-to-equity of 0.18x — the company is largely funded by its own money, not borrowed funds.
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Statement tables · Consolidated

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

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales585 Cr651 Cr914 Cr751 Cr642 Cr719 Cr1,052 Cr912 Cr811 Cr880 Cr1,174 Cr943 Cr
Operating expenses (approx.)487 Cr503 Cr734 Cr635 Cr546 Cr615 Cr789 Cr684 Cr621 Cr678 Cr858 Cr748 Cr
EBITDA99 Cr149 Cr180 Cr116 Cr96 Cr104 Cr263 Cr228 Cr190 Cr202 Cr315 Cr194 Cr
OPM %16.8%22.8%19.7%15.5%14.9%14.5%25.0%25.0%23.4%23.0%26.8%20.6%
Other income6 Cr4 Cr8 Cr1 Cr2 Cr3 Cr5 Cr2 Cr3 Cr5 Cr9 Cr8 Cr
Interest3 Cr3 Cr4 Cr6 Cr7 Cr10 Cr9 Cr10 Cr11 Cr12 Cr13 Cr14 Cr
Depreciation36 Cr37 Cr42 Cr73 Cr83 Cr89 Cr87 Cr85 Cr90 Cr91 Cr99 Cr91 Cr
Profit before tax65 Cr113 Cr141 Cr39 Cr8 Cr8 Cr171 Cr135 Cr92 Cr99 Cr207 Cr98 Cr
Tax %37.5%35.2%37.9%20.7%25.0%-18.9%28.2%27.1%23.1%24.7%28.9%24.2%
Net profit41 Cr74 Cr88 Cr31 Cr6 Cr9 Cr123 Cr98 Cr71 Cr74 Cr147 Cr74 Cr
EPS (₹)₹1.01₹1.82₹2.17₹0.77₹0.14₹0.22₹3.05₹2.44₹1.78₹1.85₹3.66₹1.85

Profit & loss (annual)

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,552 Cr1,629 Cr1,831 Cr1,844 Cr1,720 Cr2,222 Cr2,705 Cr2,911 Cr3,163 Cr3,776 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,144 Cr1,108 Cr1,382 Cr1,449 Cr1,387 Cr1,877 Cr2,236 Cr2,354 Cr2,585 Cr2,841 CrSign in free for the trailing twelve months
EBITDA408 Cr521 Cr449 Cr395 Cr333 Cr345 Cr468 Cr556 Cr579 Cr936 CrSign in free for the trailing twelve months
OPM %26.3%32.0%24.5%21.4%19.3%15.5%17.3%19.1%18.3%24.8%Sign in free for the trailing twelve months
Other income2 Cr4 Cr5 Cr29 Cr28 Cr33 Cr52 Cr26 Cr11 Cr19 CrSign in free for the trailing twelve months
Interest78 Cr52 Cr14 Cr9 Cr7 Cr13 Cr10 Cr13 Cr32 Cr46 CrSign in free for the trailing twelve months
Depreciation118 Cr121 Cr106 Cr93 Cr90 Cr122 Cr131 Cr147 Cr332 Cr365 CrSign in free for the trailing twelve months
Profit before tax215 Cr353 Cr335 Cr322 Cr199 Cr244 Cr380 Cr424 Cr226 Cr532 CrSign in free for the trailing twelve months
Tax %6.5%4.7%8.9%10.6%6.1%-1.3%34.8%30.3%25.2%26.6%Sign in free for the trailing twelve months
Net profit201 Cr336 Cr305 Cr287 Cr187 Cr247 Cr248 Cr295 Cr169 Cr390 CrSign in free for the trailing twelve months
EPS (₹)₹4.64₹7.88₹7.13₹6.85₹4.54₹6.04₹6.13₹7.30₹4.18₹9.73Sign in free for the trailing twelve months
Dividend payout %————0.0%0.0%0.0%0.0%0.0%20.7%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 2025Mar 2026
Equity capital42 Cr42 Cr42 Cr41 Cr41 Cr40 Cr40 Cr40 Cr40 Cr40 Cr
Reserves1,104 Cr1,434 Cr1,682 Cr1,816 Cr2,033 Cr2,128 Cr2,376 Cr2,670 Cr2,839 Cr3,151 Cr
Borrowings672 Cr332 Cr51 Cr11 Cr15 Cr5 Cr26 Cr130 Cr390 Cr586 Cr
Other liabilities605 Cr636 Cr454 Cr420 Cr473 Cr571 Cr689 Cr762 Cr838 Cr873 Cr
Total liabilities2,480 Cr2,506 Cr2,297 Cr2,358 Cr2,562 Cr2,745 Cr3,131 Cr3,602 Cr4,107 Cr4,647 Cr
Fixed assets (net)863 Cr785 Cr722 Cr693 Cr820 Cr913 Cr887 Cr1,413 Cr2,413 Cr2,589 Cr
CWIP55 Cr36 Cr74 Cr238 Cr127 Cr105 Cr551 Cr1,019 Cr220 Cr112 Cr
Investments1 Cr1 Cr2 Cr2 Cr2 Cr164 Cr173 Cr2 Cr2 Cr258 Cr
Loans & advances——21 Cr45 Cr43 Cr34 Cr17 Cr3 Cr0.40 Cr0 Cr
Inventories161 Cr295 Cr277 Cr257 Cr235 Cr195 Cr374 Cr335 Cr446 Cr466 Cr
Trade receivables138 Cr146 Cr144 Cr122 Cr132 Cr129 Cr105 Cr151 Cr200 Cr242 Cr
Cash & bank16 Cr19 Cr95 Cr241 Cr257 Cr8 Cr122 Cr48 Cr40 Cr13 Cr
Other assets1,246 Cr1,224 Cr962 Cr761 Cr947 Cr1,197 Cr904 Cr631 Cr786 Cr966 Cr
Total assets2,480 Cr2,506 Cr2,297 Cr2,358 Cr2,562 Cr2,745 Cr3,131 Cr3,602 Cr4,107 Cr4,647 Cr

Cash flows

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity300 Cr421 Cr616 Cr483 Cr352 Cr417 Cr375 Cr490 Cr296 Cr765 Cr
Cash from investing-89 Cr-25 Cr-193 Cr-136 Cr-333 Cr-289 Cr-272 Cr-650 Cr-529 Cr-843 Cr
Cash from financing-218 Cr-393 Cr-348 Cr-201 Cr-3 Cr-176 Cr10 Cr86 Cr224 Cr52 Cr
Net cash flow-7 Cr2 Cr76 Cr146 Cr16 Cr-47 Cr114 Cr-74 Cr-8 Cr-27 Cr
Free cash flow (OCF − Capex)211 Cr388 Cr536 Cr256 Cr245 Cr218 Cr-197 Cr-547 Cr-285 Cr272 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %15.6%21.7%18.9%17.1%9.9%11.8%15.9%15.4%7.9%15.3%
ROE %16.2%21.9%16.7%14.8%9.0%11.4%10.2%10.9%5.9%12.3%
Debtor days32332924282114192323
Inventory days234505288277228130212264287342
Days payable1363241301039677160173149189
Cash conversion cycle1302141861981607566110160176
OCF / EBITDA %73.5%80.7%137.3%122.2%105.9%120.8%80.1%88.0%51.2%81.7%
OCF / EBITDA % (3 years)——97.0%111.3%123.4%116.7%99.9%93.6%72.4%74.9%
Debt / equity0.590.220.030.00600.00710.00250.010.050.140.18
Current ratio1.802.122.963.483.592.811.890.981.151.31
Net debt / EBITDA1.61—-0.10-0.58-0.73-0.0078-0.200.150.610.61