Star Cement (STARCEMENT) had a P/E of 20.6× on 6 Nov 2026, below the industry P/E of 27.3×, and the shares are 30% below their 52-week high. Its ROCE of 15% is the highest among the 7 largest Building Materials peers, and sales and net profit grew 12% and 17% a year over 3 years. Its dividend yield is 1.2%, and debt is 0.19× equity. It is a small-cap company with a market cap of ₹6,973 Cr, ranked 12th of 58 Building Materials companies by market cap; the shares fell 28% over the past year.
- ₹177.38
- ₹180.30
- ₹166.30
- ₹180.08
- 15 L
Health check
- ReturnsIn line
−28.3% over a year, better than 3 of 7 peers.
- Price tagCheaper
P/E 20.6 vs industry 27.3.
- GrowthSteady
Sales +11.7%, profit +16.7% a year over 3 years.
- ProfitabilityAverage
ROCE 15.4% vs peer median 10.2%.
- Balance sheetSolid
Debt 0.19× equity, interest covered 13.8×, Piotroski 8 of 9.
- Red flags2 to check
Quarterly profit down 24.1% on a year ago.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹6,973 Cr
- Small cap
- P/E
- 20.6
- Industry 27.3
- Price to book
- 2.19
- Peers 2.12
- Dividend yield
- 1.16%
- ROE
- 13.0%
- Peers 4.9%
- ROCE
- 15.4%
- Peers 10.2%
- Debt to equity
- 0.19
- Debt ₹603 Cr
- EPS (TTM)
- ₹8.36
- Face value ₹1
- OPM (TTM)
- 24.1%
- Net margin 9.7%
- Sales growth
- +3.4%
- Latest quarter vs a year ago
- Profit growth
- −24.1%
- Latest quarter vs a year ago
- Price to sales
- 1.83
- EV/EBITDA 8.3
Strengths and risks
Strengths
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Quarterly profit down 24.1% on a year ago.
- 30% below its 52-week high.
About Star Cement
Star Cement Limited manufactures and supplies cement and clinker products in India and internationally. The company offers ordinary Portland, Portland pozzolana, and weather shield cement under the Star Cement brand. It also generates power; provides fleet services; manufactures Autoclaved Aerated Concrete block, construction chemicals, and ready mix concrete; and exports clinker. The company was formerly known as Cement Manufacturing Company Limited and…
- Headquarters
- Kolkata
- Employees
- 1,573
- Sector
- Basic Materials
- ISIN
- INE460H01021
- Website
- starcement.co.in
Price range
- Avg volume (3M)
- 2.5 L
- 1-year return
- minus 28.3%
- From 52-week high
- minus 30.1%
Analyst consensus
Peers · Building Materials
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ULTRACEMCOUltraTech Cement | 12,450.00 | plus 1.63% | 3,66,110 | 41.6 | 22.8 | 11.8% | 19.1% | 0.38 | 11.9% | plus 3.6% |
| GRASIMGrasim Industries | 3,227.00 | minus 0.02% | 2,18,884 | 38.5 | 16.8 | 4.0% | 15.0% | 1.35 | 14.3% | plus 12.0% |
| AMBUJACEMAmbuja Cements | 390.60 | plus 0.67% | 97,057 | 34.7 | 14.6 | 4.6% | 14.3% | 0.01 | – | minus 31.6% |
| SHREECEMShree Cement | 25,100.00 | plus 0.82% | 90,563 | 57.2 | 18.0 | 10.2% | 20.1% | 0.09 | 5.7% | minus 9.8% |
| JKCEMENTJ.K. Cement | 5,239.80 | minus 0.20% | 40,487 | 42.3 | 19.2 | 13.3% | 15.8% | 1.01 | 12.1% | minus 9.1% |
| DALBHARATDalmia Bharat | 1,470.30 | plus 0.27% | 27,602 | 56.3 | 9.6 | 7.0% | 16.5% | 0.57 | 3.0% | minus 28.5% |
| ACCACC | 1,236.20 | plus 0.77% | 23,214 | 26.4 | 7.9 | 10.4% | 8.7% | 0.02 | – | minus 33.1% |
| STARCEMENTStar Cement | 172.51 | minus 4.20% | 6,973 | 20.6 | 7.9 | 15.4% | 24.1% | 0.19 | 11.7% | minus 28.3% |
| Median of 7 peers | – | 0.67% | 90,563 | 41.6 | 16.8 | 10.2% | 15.8% | 0.38 | 11.9% | −9.8% |
Quarterly results
| ₹ Cr | Mar 25 | Jun 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 1,052 | 912 | 880 | 1,174 | 943 | |
| – | – | – | +11.5% | +3.4% | |
| 789 | 684 | 678 | 858 | 748 | |
| 263 | 228 | 202 | 315 | 195 | |
| 25.0% | 25.0% | 23.0% | 26.8% | 20.7% | |
| 5 | 1.8 | 4.9 | 9.1 | 7.7 | |
| 8.8 | 10.2 | 12.1 | 12.9 | 13.8 | |
| 87.5 | 85.2 | 91.2 | 98.7 | 91.4 | |
| – | – | −5.5 | −5.8 | – | |
| 171 | 135 | 98.5 | 207 | 97.5 | |
| 28.2% | 27.1% | 24.7% | 28.9% | 24.2% | |
| 123 | 98.5 | 74.9 | 148 | 74.7 | |
| – | – | – | +20.2% | minus 24.1% | |
| 3.05 | 2.44 | 1.85 | 3.66 | 1.85 |
Profit & loss
- Sales CAGR 3Y
- +11.7%
- Profit CAGR 3Y
- +16.7%
- EPS CAGR 3Y
- +16.6%
- ROE
- 13.0%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2,576 | 2,888 | 2,988 | 3,587 | |
| – | +12.1% | +3.4% | +20.1% | |
| 2,102 | 2,326 | 2,406 | 2,643 | |
| 474 | 562 | 582 | 944 | |
| 18.4% | 19.5% | 19.5% | 26.3% | |
| 44.7 | 19.9 | 2 | 3.9 | |
| 7.9 | 10.8 | 28.4 | 41.6 | |
| 131 | 147 | 332 | 365 | |
| 0.1 | −1 | 2.2 | −8.8 | |
| 380 | 424 | 226 | 532 | |
| 34.8% | 30.3% | 25.2% | 26.6% | |
| 248 | 295 | 169 | 393 | |
| – | +19.2% | minus 42.7% | +132.8% | |
| 6.13 | 7.30 | 4.18 | 9.73 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 40.4 | 40.4 | 40.4 | 40.4 | |
| 2,376 | 2,670 | 2,839 | 3,151 | |
| 35.4 | 147 | 403 | 603 | |
| 680 | 745 | 825 | 852 | |
| 3,131 | 3,602 | 4,107 | 4,647 | |
| 1,516 | 2,481 | 2,746 | 2,877 | |
| 629 | 1,067 | 333 | 270 | |
| 220 | 2.8 | 2.2 | 259 | |
| 310 | 94.5 | 45 | 93.1 | |
| 456 | −43.2 | 980 | 1,149 | |
| 3,131 | 3,602 | 4,107 | 4,647 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 358 | 490 | 296 | 765 | |
| −255 | −650 | −529 | −843 | |
| 10 | 86.5 | 224 | 51.8 | |
| 114 | −73.8 | −7.9 | −26.7 | |
| −572 | −1,036 | −581 | −493 | |
| −213 | −547 | −285 | 272 | |
| – | – | – | −80.8 |
Shareholding pattern
- Promoters58.11%
- Public41.89%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 58.11% | 41.89% | plus 0.01 | |
| 30 Jun 2026 | 58.10% | 41.90% | minus 0.02 | |
| 31 Mar 2026 | 58.12% | 41.88% | plus 0.50 | |
| 31 Dec 2025 | 57.62% | 42.38% | plus 0.03 | |
| 30 Sep 2025 | 57.59% | 42.41% | – |
Major shareholders
Filings & events
News
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