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Swing Capital

Saurashtra Cement Ltd

NSE: SAURASHCEM BSE: 502175Cement

Incorporated in 1956, Saurashtra Cement is in the business of manufacturing and selling of Cement and Paints[1]

₹59.9
52W: ₹47.6 — ₹128
PE 30.6 · Book ₹86.4 · -31% vs book
Market Cap₹666 Cr
Stock P/E30.6Price to Earnings
ROCE2.49%Return on Capital
ROE2.28%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Stock is trading at 0.69 times its book value

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Tax rate seems low
  • −Company has a low return on equity of 3.36% over last 3 years.
  • −Promoter holding has decreased over last 3 years: -5.84%

Shareholding Pattern

Promoters66.62%
FIIs0.16%
DIIs0.12%
Public33.1%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters66.88%66.83%▼0.066.78%▼0.066.71%▼0.166.69%▼0.066.69%66.69%66.62%▼0.1
FIIs0.01%0.03%▲0.00.01%▼0.00.04%▲0.00.02%▼0.00.04%▲0.00.2%▲0.20.16%▼0.0
DIIs0.37%0.36%▼0.00.36%0.36%0.12%▼0.20.12%0.12%0.12%
Public32.73%32.78%▲0.132.83%▲0.032.87%▲0.033.15%▲0.333.14%▼0.032.98%▼0.233.1%▲0.1

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales447497386296378478424386410447
Expenses404453363336370425389395409420
Operating Profit434523-4085335-10127
OPM %10%9%6%-13%2%11%8%-3%0%6%
Net Profit133210-32-43317-11-1019
EPS ₹1.132.850.88-2.84-0.42.981.51-0.99-0.931.71

AI Insights

Revenue Trend

Mar 2026 revenue at ₹1,666Cr, up 8.3% YoY. OPM at 3%.

Debt Position

Borrowings at ₹107Cr. Debt-to-equity ratio: 0.13x. Healthy balance sheet.

Capex Cycle

CWIP at ₹37Cr (4% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.12% (+0.00pp change). FIIs: 0.16% (+0.16pp change). Promoters hold 66.62%.

Margin & Efficiency

ROCE declining from 23% (Mar 2015) to 2% (Mar 2026). Working capital days: -29.

Valuation

PE 30.6x with 2.49% ROCE. Price is -31% above book value of ₹86.4. Dividend yield: 0%.

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