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Swing Capital

Star Cement Ltd

NSE: STARCEMENT BSE: 540575Cement

Star Cements Ltd is engaged in manufacturing and selling of Cement Clinker & Cement. It sells its products across north-eastern and eastern states in India.[1] It is the largest cement manufacturer in North-east India.[2]

₹213
52W: ₹197 — ₹309
PE 84.9 · Book ₹40.2 · +430% vs book
Market Cap₹8,603 Cr
Stock P/E84.9Price to Earnings
ROCE3.39%Return on Capital
ROE3.56%Return on Equity
Div. Yield0.94%Face Value ₹1

Weaknesses

  • −Stock is trading at 5.26 times its book value
  • −The company has delivered a poor sales growth of 2.36% over past five years.
  • −Company has a low return on equity of 6.80% over last 3 years.
  • −Promoter holding has decreased over last 3 years: -8.99%

Shareholding Pattern

Promoters58.12%
FIIs2.26%
DIIs2.65%
Public36.96%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters66.49%66.47%▼0.057.69%▼8.857.67%▼0.057.66%▼0.057.59%▼0.157.62%▲0.058.12%▲0.5
FIIs1.61%1.36%▼0.31.2%▼0.22.02%▲0.82.24%▲0.22.96%▲0.72.47%▼0.52.26%▼0.2
DIIs5.03%4.96%▼0.14.95%▼0.05.17%▲0.24.93%▼0.24.38%▼0.54.48%▲0.12.65%▼1.8
Public26.89%27.2%▲0.336.17%▲9.035.15%▼1.035.17%▲0.035.07%▼0.135.42%▲0.436.96%▲1.5

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales602659860472403451658545522532
Expenses525553742452410463549445434432
Operating Profit7710611820-7-1210910087100
OPM %13%16%14%4%-2%-3%17%18%17%19%
Net Profit375673-13-38-4437241523
EPS ₹0.911.41.82-0.32-0.94-1.10.910.60.380.57

AI Insights

Revenue Trend

TTM revenue at ₹2,256Cr, up 13.3% YoY. OPM at 18%.

Debt Position

Borrowings at ₹566Cr. Debt-to-equity ratio: 0.36x. Healthy balance sheet.

Capex Cycle

CWIP at ₹51Cr (3% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 2.65% (-3.58pp change). FIIs: 2.26% (+1.57pp change). Promoters hold 58.12%.

Margin & Efficiency

ROCE declining from 2% (Mar 2014) to -3% (Mar 2025). Working capital days: -48.

Valuation

PE 84.9x with 3.39% ROCE. Price is 430% above book value of ₹40.2. Dividend yield: 0.94%.

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