The Ramco Cements Ltd.

NSE: RAMCOCEM · Cement & Cement Products

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52W Range₹711 – ₹1,215

Snapshot

Unlock The Ramco Cements Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

The Ramco Cements Limited is a prominent Indian manufacturer of cement, ready-mix concrete, and dry mortar products. The company also operates in the energy sector, generating electricity through wind farms and thermal power plants.

Business Model

The company generates revenue primarily through the sale of various cement grades under the RAMCO brand and associated construction materials. Additionally, it monetises its energy infrastructure by selling electricity generated from its wind and thermal power assets.

  • Wind Power Capacity:125.95 MW
  • Wind Electric Generators:127

Growth Outlook

Growth is driven by sustained demand for infrastructure and housing in India, supported by the company's diversified product portfolio and export capabilities. Continued investment in power generation capacity helps mitigate operational energy costs.

Key Risks

  • Input Cost Volatility. Fluctuations in the prices of coal, petcoke, and power significantly impact manufacturing margins.
  • Cyclical Demand. The cement industry is highly sensitive to economic cycles and the pace of infrastructure development in India.
  • Logistics and Freight Costs. High transportation costs due to the heavy nature of cement products can compress profitability in non-local markets.
  • Regulatory and Environmental Compliance. Stringent environmental regulations regarding emissions and mining operations pose ongoing operational challenges.

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Key Metrics

REVENUE

₹9,228 Cr

TTM · consolidated

+8.6%YoY

NET PROFIT

₹645 Cr

TTM · consolidated

+103.3%YoY

EPS

₹27.28

TTM · consolidated

+102.1%YoY

RETURN ON EQUITY

8.3%

TTM · consolidated

+4.0 ppYoY

RETURN ON CAPITAL EMPLOYED

9.9%

TTM · consolidated

+2.9 ppYoY

P/E

30.5×

Q1 FY27 · consolidated

30.5 vs 44.8x5Y avg

EV/EBITDA

17.7x

Q1 FY27 · consolidated

17.7 vs 18.5x5Y avg

EBITDA MARGIN

15.0%

TTM · consolidated

-0.9 ppYoY

NET PROFIT MARGIN

1.4%

Q1 FY27 · consolidated

-2.7 ppYoY

DEBT TO EQUITY

0.5%

Q1 FY27 · consolidated

-0.1 ppYoY

Peers · Cement & Cement Products

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
The Ramco Cements Ltd.RAMCOCEM
₹20,913 Cr30.5×17.728.6%15.0%8.3%9.9%-16.3%
Dalmia Bharat Ltd.DALBHARAT
₹32,712 Cr33.8×11.837.6%22.0%5.4%6.5%-24.5%
ACC Ltd.ACC
₹23,500 Cr11.6×7.6111.8%11.9%9.8%9.1%-35.3%
Jsw Cement Ltd.JSWCEMENT
₹16,112 Cr19.4×13.90—20.7%11.0%9.8%-19.4%
Nuvoco Vistas Corporation Ltd.NUVOCO
₹12,313 Cr29.8×8.739.5%16.6%4.0%7.0%-23.9%
The India Cements LimitedINDIACEM
₹10,538 Cr99.0×21.476.8%12.3%0.9%1.7%-24.6%

As of Q1 FY27

Financials