The Ramco Cements Ltd.

NSE: RAMCOCEM · Cement & Cement Products

52W Range₹838 ₹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.

Price

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Key Metrics

REVENUE

₹9,029 Cr

TTM · consolidated

+6.0%YoY

NET PROFIT

₹699 Cr

TTM · consolidated

+159.2%YoY

EPS

₹29.56

TTM · consolidated

+156.4%YoY

RETURN ON EQUITY

9.2%

TTM · consolidated

+5.5 ppYoY

RETURN ON CAPITAL EMPLOYED

10.7%

TTM · consolidated

+4.3 ppYoY

P/E

31.6x

Q4 FY26 · consolidated

31.6 vs 50.0x5Y avg

EV/EBITDA

17.4x

Q4 FY26 · consolidated

17.4 vs 19.2x5Y avg

EBITDA MARGIN

16.4%

TTM · consolidated

+1.4 ppYoY

NET PROFIT MARGIN

5.8%

Q4 FY26 · consolidated

+4.7 ppYoY

DEBT TO EQUITY

0.5x

Q4 FY26 · consolidated

-0.15xYoY

Peers · Cement & Cement Products

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
The Ramco Cements Ltd.RAMCOCEM
21,24931.5717.416.0%16.4%9.2%10.7%-20.0%
Dalmia Bharat Ltd.DALBHARAT
33,85130.1012.375.9%22.3%6.6%7.5%-15.4%
ACC Ltd.ACC
25,20912.077.5317.9%13.1%11.2%11.2%-31.1%
Jsw Cement Ltd.JSWCEMENT
15,7197.7816.3121.4%29.5%20.5%
India Cements Ltd.INDIACEM
11,066-189.4528.136.9%10.8%-0.7%0.3%+15.4%
Nuvoco Vistas Corporation Ltd.NUVOCO
10,27035.559.169.5%16.6%3.9%7.1%-4.9%

As of Q4 FY26

Financials