INDIACEMConstruction Materials

The India Cements Limited

Cement & Cement Products · ISIN INE383A01012 · BSE 530005 · NSE EQ · FV ₹10
Last price
₹352
+5.09%today
What this company does

The India Cements Limited operates in Cement & Cement Products, part of the Construction Materials sector. It booked ₹1,019 cr of revenue in its latest quarter (Q1 FY27) and kept 2.6% of sales as profit.

In the report:
42out of 100
Equitytale Health Score
Strained

Healthier than 42% of listed companies we score, on all six measures of filed financials. Each measure is ranked against the 1,561–2,858 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
40

At close. Not part of the score.

Profitability & returns16

How much profit it earns on the money it employs

Balance sheet46

How much it owes, and whether earnings cover the interest

Cash quality69

Whether reported profit actually arrives as cash

Growth & consistency23

Whether sales and profit have grown, and how steadily

Valuation36

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Promoters hold 75%
No promoter shares pledged
Watch-outs
! Thin 2.6% net margin
! Low 1.1% return on equity
! Operating cash flow is negative

What if I invest in INDIACEM?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹352 +5.09%
latest close · 2026-09-17
1-year return
+121.5%
52-wk low ₹14552-wk high ₹416
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio101.1High
LowAverageHigh
P/B ratio1.08Moderate
Below bookModerateHigh
EV / EBITDA22.8High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity1.1%Weak
WeakFairStrong ▸15%
Return on capital2.1%Weak
WeakFairStrong
Net margin2.6%Thin
ThinDecentStrong
EBITDA margin13.1%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.13Comfortable
LowModerateHigh ▸1
Interest cover2.4×Okay
RiskyOkayStrong ▸5×
Current ratio0.92Tight
Tight ◂1HealthyAmple
More figures
Market cap
₹10,899 cr
Book value
₹327
EPS
₹0.87
latest quarter
Net debt
₹1,291 cr
owes more than its cash
Enterprise value
₹12,190 cr
EBITDA
₹536 cr
annualised
EBIT
₹248 cr
annualised
Operating margin
6.1%
Return on assets
0.8%
Earnings yield
0.99%
P/S
2.67
Sales / share
₹131.6
Tax rate
25.0%
Face value
₹10
Shares
31.0 cr
Working capital
₹-119 cr
Current assets
₹1,457 cr
Current liabilities
₹1,576 cr
Delivery %
43.6%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
The company's latest annual profit was negative, so we won't call it cheap off older profits.

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹1,019 cr
Other Income₹3 cr
Total Income₹1,023 cr
Cost of Materials₹246 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-13 cr
Employee Benefit Expense₹48 cr
Finance Costs₹26 cr
Depreciation & Amortisation₹72 cr
Other Expenses₹582 cr
Total Expenses₹962 cr
Exceptional Items₹-25 cr
Profit before Tax₹36 cr
Tax Expense₹9 cr
Net Profit₹27 cr
Net margin on total income2.6%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹234 cr23.4%
Employee benefit expense₹48 cr4.8%
Finance costs₹26 cr2.6%
Depreciation & amortisation₹72 cr7.2%
Other expenses₹582 cr58.4%
Tax expense₹9 cr0.9%
Profit for the period₹27 cr2.7%
Total income ₹1,023 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue1,114 cr1,229 cr1,019 cr
Total income1,138 cr1,255 cr1,023 cr
Expenses1,134 cr1,175 cr962 cr
Profit before tax-5 cr69 cr36 cr
Tax-2 cr9 cr9 cr
Net profit (owners' share)-3 cr60 cr27 cr
Net margin (owners' share, on revenue)-0.2%4.8%2.6%
EPS (₹)-0.091.920.87
YoY (latest quarter): total income -1.1% · net profit
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹13,403 cr
Shareholder equity
₹10,124 cr
parent shareholders
Total debt
₹1,305 cr
Cash
₹14 cr
Cash flow · H1 FY26
Operating
₹-195 cr
Investing
₹7 cr
Financing
₹123 cr
Peer comparison
Cement & Cement Products · by market value
CompanyPriceMarket capP/E
UltraTech Cement Limited₹10,764₹3.17 L cr30.5
Grasim Industries Limited₹3,173₹2.16 L cr25.1
Ambuja Cements Limited₹383₹95,238 cr41.3
SHREE CEMENT LIMITED₹21,960₹79,232 cr37.4
JK Cement Limited₹5,027₹38,844 cr35.0
Dalmia Bharat Limited₹1,693₹32,173 cr42.2
ACC Limited₹1,233₹23,171 cr39.4
The Ramco Cements Limited₹859₹20,297 cr162.7
JSW Cement Limited₹117₹15,750 cr24.3
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
trailing 12 months
Dividend / share (TTM)
Last dividend
₹1
ex 20 Sep 2022
ActionDetailEx-date
Dividend₹1 / share20 Sep 2022
Dividend₹1 / share31 Aug 2021
Dividend₹0.6 / share18 Sep 2020
Dividend₹0.8 / share4 Sep 2019
Dividend₹0.8 / share11 Sep 2018
Dividend₹1 / share24 Aug 2017
Who owns it · 2026-06-30
No pledge
Promoter
75.0%
FII / Foreign
3.4%
DII / Domestic
12.6%
Retail / others
9.0%
Promoter stake up 46.6% over the last 12 quarters.
Smart-money activity
Insider trades
SoldUltraTech Cement Limited · Promoters6,649 · ₹26.3 L17 Nov 25
SoldUltraTech Cement Limited · Promoters6,774 · ₹26.9 L13 Nov 25
SoldUltraTech Cement Limited · Promoters15.83 L · ₹61.9 cr11 Nov 25
Bulk / block deals
short · NSE40026 Aug 26
short · NSE2511 Jun 26
short · NSE27527 Apr 26
Stake changes
SoldUltra tech Cement ltd · promoter→ 75.60% · 1.82 cr22 Aug 25
BoughtUltra Tech Cement Ltd · promoter→ 81.49% · 8.06 cr4 Feb 25
SoldElm Park Fund Limited→ 0.51% · 1.38 cr4 Feb 25
Promoter pledges
PledgedLender: Aditya Birla Finance Ltd65.00 L · 10.83% held8 Dec 23
PledgedLender: Bajaj Finance Limited58.00 L · 8.96% held10 Nov 23
PledgedLender: Barclays Investments & Loans (India) Private Limited52.50 L · 7.27% held6 Nov 23
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 10 Aug 2026
See the official result
1
Adoption of Audited Standalone Financial Statements for the year ended 31.03.2026 and the Reports of Directors and Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
4.60 cr votes for, 2,222 against · 0% of mutual funds and other big investors said no
2
Adoption of Audited Consolidated Financial Statements for the year ended 31.03.2026 and the Report of Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
4.60 cr votes for, 2,241 against · 0% of mutual funds and other big investors said no
3
Appointment of Mr.Vivek Agrawal (DIN: 10599212) as a director, who retires by rotation and being eligible, offers himself for reappointment.
Backed by 84% of shareholders other than promotersneeded 50%
3.84 cr votes for, 75.60 L against · 16% of mutual funds and other big investors said no
4
Ratification of remuneration payable to Mr.K.Suryanarayanan, Cost Auditor for the financial year 2026-27
Backed by 100% of shareholders other than promotersneeded 50%
4.60 cr votes for, 4,228 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 1 named members
owning 75.0% between them · as of 2026-06-30
UltraTech Cement Limited75.00%
Business done with them
FY2026 · 1 of the group
The company paid ₹289 cr to companies in the promoter group last year — about 6.5% of its ₹4,485 cr revenue and received ₹2,480 cr back from them.
UltraTech Cement Limited
Sold goods to them · Sale of Goods, Purchase of Goods, Rendering of Services, Receiving of Services, Amount payable and Amount receivable
also owns 75.00% of the company
₹2,473 cr
company received
UltraTech Cement Limited
Bought goods from them · Sale of Goods, Purchase of Goods, Rendering of Services, Receiving of Services, Amount payable and Amount receivable
also owns 75.00% of the company
₹273 cr
company paid
UltraTech Cement Limited
Paid them for services · Sale of Goods, Purchase of Goods, Rendering of Services, Receiving of Services, Amount payable and Amount receivable
also owns 75.00% of the company
₹16 cr
company paid
UltraTech Cement Limited
Provided services to them · Sale of Goods, Purchase of Goods, Rendering of Services, Receiving of Services, Amount payable and Amount receivable
also owns 75.00% of the company
₹7 cr
company received

The company also transacted with 11 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.