India Cements Ltd
India Cements Ltd is a leading cement manufacturing company headquartered in Chennai. It was incorporated in the year 1946 by Shri S N N Sankaralinga Iyer and Sri T S Narayanaswami. While retaining cement over the years as its mainstay, India Cements has ventured into related fields like shipping, captive power and coal mining that have purposeful synergy to the core business. The co is also a sponsor of the IPL franchise “Chennai Super Kings”. [1]
Strengths
- +Debtor days have improved from 43.4 to 20.2 days.
Weaknesses
- −Company has low interest coverage ratio.
- −The company has delivered a poor sales growth of 0.22% over past five years.
- −Company has a low return on equity of -3.75% over last 3 years.
Shareholding Pattern
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 28.42% | 28.42% | 55.49%▲27.1 | 81.49%▲26.0 | 81.49% | 75.6%▼5.9 | 75%▼0.6 | 75% |
| FIIs | 17.64% | 16.17%▼1.5 | 14.5%▼1.7 | 4.94%▼9.6 | 2.97%▼2.0 | 3.11%▲0.1 | 3.41%▲0.3 | 3.49%▲0.1 |
| DIIs | 5.84% | 6.05%▲0.2 | 6.68%▲0.6 | 3.69%▼3.0 | 5.76%▲2.1 | 12.25%▲6.5 | 12.8%▲0.6 | 12.9%▲0.1 |
| Public | 48.08% | 49.36%▲1.3 | 23.32%▼26.0 | 9.87%▼13.5 | 9.77%▼0.1 | 9.03%▼0.7 | 8.8%▼0.2 | 8.62%▼0.2 |
Financial Statements
| Metric | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,082 | 1,245 | 972 | 1,007 | 902 | 1,198 | 1,025 | 1,117 | 1,114 | 1,229 |
| Expenses | 1,033 | 1,199 | 1,003 | 1,170 | 1,091 | 1,197 | 943 | 1,036 | 1,035 | 1,073 |
| Operating Profit | 49 | 47 | -31 | -164 | -188 | 1 | 82 | 81 | 79 | 155 |
| OPM % | 5% | 4% | -3% | -16% | -21% | 0% | 8% | 7% | 7% | 13% |
| Net Profit | -17 | -29 | 57 | -240 | -409 | -64 | -14 | -7 | 3 | 55 |
| EPS ₹ | -0.53 | -0.95 | 1.85 | -7.74 | -13.21 | -2.06 | -0.44 | -0.22 | 0.1 | 1.77 |
AI Insights
Mar 2026 revenue at ₹4,485Cr, up 9.7% YoY. OPM at 9%.
Borrowings at ₹1,305Cr. Debt-to-equity ratio: 0.13x. Healthy balance sheet.
CWIP at ₹344Cr (3% of fixed assets). Moderate ongoing capital expenditure.
DIIs: 12.9% (+3.47pp change). FIIs: 3.49% (-10.16pp change). Promoters hold 75%.
ROCE declining from 7% (Mar 2015) to 2% (Mar 2026). Working capital days: -12.
PE 134x with 1.76% ROCE. Price is 24% above book value of ₹324. Dividend yield: 0%.
Recent Announcements
- Disclosure W.R.T. Compounding Order Passed By Reserve Bank Of India 1d - RBI passed compounding order on 15 May 2026; India Cements to pay Rs.18,250 for delayed FC-TRS filing.
- Shareholder Meeting / Postal Ballot-Scrutinizer"s Report 7 May
- Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot 7 May
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 2 May
- Newspaper Advertisement Regarding Notice Of Special Window For Transfer And Dematerialisation Of Physical Securities And Second 100 Days Campaign - ''''Saksham Niveshak'''' 29 Apr - Published newspaper ad on 28 April 2026 for physical share dematerialisation and Saksham Niveshak campaign.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse