India Cements Ltd

₹ 365 -0.08%

01 Oct 1:46 p.m.

indiacements.co.in BSE: 530005 NSE: INDIACEM

About

India Cements Ltd is a leading cement manufacturing company headquartered in Chennai. It was incorporated in the year 1946 by Shri S N N Sankaralinga Iyer and Sri T S Narayanaswami. While retaining cement over the years as its mainstay, India Cements has ventured into related fields like shipping, captive power and coal mining that have purposeful synergy to the core business. The co is also a sponsor of the IPL franchise “Chennai Super Kings”. ^[1]

Key Points

Product Offerings
The company primarily manufactures two standard types of cement including Ordinary Portland Cement and Portland Pozzolana Cement, the mix being 35:65. ^[1]

Website BSE NSE

Market Cap ₹ 11,311 Cr.
Current Price ₹ 365
High / Low ₹ 386 / 173
Stock P/E
Book Value ₹ 174
Dividend Yield 0.00 %
ROCE -0.73 %
ROE -4.53 %
Face Value ₹ 10.0

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Pros

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -2.56% over past five years.
Company has a low return on equity of -3.44% over last 3 years.
Promoters have pledged 47.5% of their holding.
Earnings include an other income of Rs.337 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Cement Industry: Cement - South India

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
	1,022	1,190	1,108	1,392	1,446	1,255	1,219	1,460	1,393	1,222	1,082	1,245	972
	860	1,057	1,004	1,331	1,415	1,346	1,289	1,505	1,388	1,214	1,033	1,199	1,003
Operating Profit	162	134	104	61	31	-91	-70	-44	5	8	49	47	-31
OPM %	16%	11%	9%	4%	2%	-7%	-6%	-3%	0%	1%	5%	4%	-3%
	3	3	6	5	8	4	298	-95	7	6	43	41	247
Interest	55	51	50	48	59	66	61	49	58	59	60	64	82
Depreciation	54	56	55	54	52	54	54	53	53	53	57	57	55
Profit before tax	56	29	5	-36	-72	-207	114	-242	-99	-99	-24	-33	78
Tax %	33%	25%	36%	-35%	-206%	-33%	21%	-10%	-24%	-18%	-31%	-11%	27%
	37	22	3	-24	76	-138	91	-218	-75	-81	-17	-29	57
EPS in Rs	1.21	0.71	0.11	-0.77	2.46	-4.44	2.93	-7.03	-2.43	-2.63	-0.53	-0.95	1.85
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	4,597	4,441	4,424	4,229	5,079	5,176	5,628	5,058	4,437	4,713	5,381	4,942	4,521
	3,772	3,902	3,740	3,453	4,216	4,475	4,986	4,469	3,628	4,251	5,553	4,829	4,448
Operating Profit	825	539	684	776	863	701	642	589	809	462	-173	114	73
OPM %	18%	12%	15%	18%	17%	14%	11%	12%	18%	10%	-3%	2%	2%
	17	-71	30	18	14	11	27	-76	21	15	213	92	337
Interest	308	354	426	382	360	340	324	334	265	204	234	240	265
Depreciation	282	276	258	219	257	256	251	247	242	220	213	220	222
Profit before tax	252	-162	29	192	260	116	93	-68	323	54	-407	-255	-77
Tax %	35%	0%	0%	32%	33%	13%	26%	-48%	31%	28%	-54%	-20%
	164	-162	29	130	173	101	69	-36	222	39	-189	-203	-70
EPS in Rs	5.32	-5.29	0.96	4.23	5.64	3.27	2.24	-1.15	7.16	1.26	-6.08	-6.54	-2.26
Dividend Payout %	38%	0%	0%	24%	18%	24%	36%	-52%	14%	80%	0%	0%

Compounded Sales Growth
10 Years:	1%
5 Years:	-3%
3 Years:	4%
TTM:	-15%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	33%

Stock Price CAGR
10 Years:	12%
5 Years:	36%
3 Years:	22%
1 Year:	57%

Return on Equity
10 Years:	0%
5 Years:	-1%
3 Years:	-3%
Last Year:	-5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	307	307	307	308	308	308	310	310	310	310	310	310
Reserves	3,782	3,544	3,286	4,673	4,802	4,892	4,930	5,105	5,308	5,508	5,289	5,089
	3,023	3,202	3,201	3,155	2,921	3,100	3,270	3,533	3,006	3,068	2,924	2,608
	1,690	1,683	1,518	2,226	2,614	2,399	2,595	2,504	2,250	2,899	2,662	2,439
Total Liabilities	8,803	8,737	8,311	10,362	10,645	10,699	11,105	11,452	10,874	11,785	11,186	10,445
	4,142	4,161	3,586	7,182	6,973	6,796	6,713	6,826	6,670	6,688	6,547	6,623
CWIP	339	101	89	93	128	171	177	196	187	272	313	190
Investments	958	946	1,585	551	619	588	695	737	746	780	494	492
	3,364	3,529	3,051	2,536	2,926	3,143	3,520	3,694	3,271	4,046	3,832	3,140
Total Assets	8,803	8,737	8,311	10,362	10,645	10,699	11,105	11,452	10,874	11,785	11,186	10,445

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	666	536	579	917	812	468	413	414	1,036	418	-11	310
	-572	-243	-99	-160	-188	-294	-240	-340	-196	-254	429	246
	-93	-294	-479	-798	-624	-173	-175	-74	-840	-168	-405	-558
Net Cash Flow	2	-2	2	-41	0	2	-2	-0	0	-5	14	-2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	37	35	38	46	37	44	47	52	45	71	55	51
Inventory Days	324	344	333	321	307	261	294	334	274	402	302	245
Days Payable	507	540	452	555	543	456	470	539	505	621	518	481
Cash Conversion Cycle	-146	-161	-81	-188	-200	-151	-129	-153	-186	-147	-161	-185
Working Capital Days	1	-23	-10	-59	-23	0	2	5	18	60	103	74
ROCE %	8%	4%	7%	8%	8%	6%	5%	4%	7%	3%	-4%	-1%

Shareholding Pattern

Numbers in percentages

18 Recently

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
	28.42%	28.42%	28.42%	28.42%	28.42%	28.42%	28.42%	28.42%	28.42%	28.42%	28.42%	28.42%
	13.22%	13.20%	13.29%	13.42%	13.86%	13.07%	13.15%	13.65%	13.43%	13.58%	13.27%	17.64%
	6.30%	7.91%	8.84%	7.69%	9.50%	9.90%	9.38%	9.43%	10.04%	8.94%	8.47%	5.84%
	52.07%	50.47%	49.46%	50.47%	48.24%	48.62%	49.04%	48.52%	48.12%	49.06%	49.83%	48.08%
No. of Shareholders	1,65,884	1,81,498	1,85,649	1,95,551	1,82,623	1,89,447	1,95,974	1,94,254	1,85,758	1,96,426	2,06,667	2,11,262

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Jun 2024
	28.46%	28.37%	28.30%	28.26%	28.42%	28.42%	28.42%	28.42%	28.42%
	25.25%	18.22%	13.30%	12.85%	13.06%	13.29%	13.15%	13.27%	17.64%
	21.26%	28.33%	28.49%	8.26%	9.00%	8.84%	9.38%	8.47%	5.84%
	25.03%	25.08%	29.91%	50.63%	49.53%	49.46%	49.04%	49.83%	48.08%
No. of Shareholders	1,06,978	1,42,987	1,59,710	1,56,473	1,54,888	1,85,649	1,95,974	2,06,667	2,11,262

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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