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10 Yrs X-Ray 
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Saurashtra Cement Ltd (SAURASHCEM)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 502175 NSE: SAURASHCEM Cement & Construction Materials | Small Cap | Saurashtra Cement Share Price
₹54.60 0.58 (1.07%)
As on 30-Sep'26 16:59
Saurashtra Cement Ltd (SAURASHCEM)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 502175 NSE: SAURASHCEM Cement & Construction Materials | Small Cap | Saurashtra Cement Share Price
₹54.60 0.58 (1.07%)
As on 30-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹608 Cr.
Current Price
₹54.6
52-Week Low / High
₹48 / 112
TTM EPS
₹0.6
TTM Sales
₹1,699 Cr.
Book Value per Share
₹87.2
P/E Ratio
90.81
Higher than its 5-year historical median
Industry PE
35.3
Price to Book (P/B)
0.63
Lower than its 5-year historical median
Price to Sales (P/S)
0.36
Lower than its 5-year historical median
EV/EBITDA
8.58
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
1.51%
Underperforms industry median
Return on Capital Employed (ROCE)
1.56%
Underperforms industry median
Return on Assets (ROA)
0.90%
Operating Profit Margin
3.6%
Net Profit Margin
0.87%
Gross Profit Margin
3.5%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
8.35%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
19.73%
Net Profit Growth (1 Year)
-
106.59%
Asset Quality
Promoter Holding
66.62%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹859 Cr.
Equity
₹111.3 Cr.
Face Value
₹10
All Time Low / High
₹6.00 / 4600.00
Check Before You Invest
Quality
Somewhat GoodValuation
Somewhat UndervaluedCheck Valuation charts
Price Trend
Semi Strong
Is Saurashtra Cement Ltd a good quality company?
Saurashtra Cement Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Saurashtra Cement Ltd performance compare with that of its Peers?
Revenue growth of Saurashtra Cement Ltd vs industry peers?
Saurashtra Cement Ltd revenue CAGR is 19.85%, compared to the industry median CAGR of 3.07%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Saurashtra Cement Ltd?
Promoters hold 66.62% of the Saurashtra Cement Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Saurashtra Cement Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -3.2% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Saurashtra Cement Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 7.5% | 12.3% | -0.5% | 17.8% | 20.9% | 5.8% | -2.1% | 10.1% | 2.6% | 1.6% | - |
| Value Creation Index ⓘ | -0.5 | -0.1 | -1.0 | 0.3 | 0.5 | -0.6 | -1.2 | -0.3 | -0.8 | -0.9 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 470 | 574 | 622 | 608 | 674 | 1,451 | 1,645 | 1,765 | 1,538 | 1,666 | 1,699 |
| Sales YoY Gr. | - | 22% | 8.4% | -2.2% | 10.8% | 115.4% | 13.4% | 7.3% | -12.9% | 8.4% | - |
| Adj EPS ⓘ | 2 | 8.9 | -1.1 | 9.9 | 10.2 | 3.3 | -4 | 6.2 | 0.1 | 2.3 | 0.6 |
| YoY Gr. | - | 347.7% | -111.8% | NA | 3.8% | -67.5% | -219.5% | NA | -98.1% | 1791.7% | - |
| BVPS (₹) ⓘ | 52.2 | 60.1 | 58 | 63.8 | 74 | 149.2 | 145.3 | 83.4 | 85.1 | 86.4 | 87.2 |
| Adj Net Profit ⓘ | 13.8 | 61.6 | -7.3 | 68.6 | 71.5 | 18.9 | -22.6 | 68.7 | 1.4 | 25.2 | 7 |
| Cash Flow from Ops. ⓘ | 34.2 | 49.3 | 14.3 | 62.6 | 134 | -8.4 | 21.3 | 155 | 30.1 | 36.3 | - |
| Debt/CF from Ops. ⓘ | 0.5 | 0.4 | 2.3 | 0.4 | 0.2 | -12.2 | 3 | 0.5 | 4.5 | 2.9 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 15.1% | 19.9% | 0.4% | 8.4% | ||||
| Adj EPS ⓘ | 1.5% | -26% | NA | 1791.7% | ||||
| BVPSⓘ | 5.8% | 3.1% | -15.9% | 1.5% | ||||
| Share Price | -3.1% | -10.3% | -10.9% | -49.8% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 4.4 | 15.9 | -1.8 | 15.9 | 14.7 | 2.7 | -2.5 | 7.6 | 0.1 | 2.6 | 0.7 |
| Op. Profit Mgn % ⓘ | 6.4 | 8.8 | 0.8 | 18.2 | 17 | 4.4 | 0.4 | 7.4 | 2.9 | 3.6 | 2.3 |
| Net Profit Mgn % ⓘ | 2.9 | 10.8 | -1.2 | 11.3 | 10.6 | 1.3 | -1.4 | 3.9 | 0.1 | 1.5 | 0.4 |
| Debt to Equity ⓘ | 0.1 | 0 | 0.1 | 0.1 | 0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | - |
| Working Cap Days ⓘ | 97 | 88 | 76 | 91 | 86 | 54 | 75 | 84 | 95 | 85 | 63 |
| Cash Conv. Cycle ⓘ | 13 | 9 | 14 | 22 | 28 | 25 | 33 | 25 | 28 | 26 | 9 |
Valuation of Saurashtra Cement - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 470 | 574 | 622 | 608 | 674 | 1,451 | 1,645 | 1,765 | 1,538 | 1,666 |
| Operating Expenses ⓘ + | 441 | 524 | 617 | 499 | 559 | 1,387 | 1,639 | 1,635 | 1,494 | 1,614 |
| Operating Profit ⓘ | 29 | 50 | 5 | 109 | 115 | 64 | 6 | 130 | 44 | 52 |
| Operating Profit Margin (%) | 6.2% | 8.7% | 0.8% | 18.0% | 17.0% | 4.4% | 0.4% | 7.4% | 2.8% | 3.1% |
| Other Income ⓘ + | 11 | 18 | 8 | 8 | 12 | 16 | 13 | 36 | 17 | 19 |
| Interest ⓘ | 4 | 3 | 5 | 5 | 4 | 9 | 9 | 8 | 14 | 10 |
| Depreciation ⓘ | 15 | 18 | 18 | 20 | 20 | 33 | 39 | 47 | 42 | 44 |
| Profit Before Tax ⓘ | 21 | 46 | -7 | 77 | 102 | 37 | -29 | 90 | 14 | 7 |
| Tax ⓘ | 7 | -16 | -2 | 21 | 30 | 14 | -7 | 33 | 7 | -8 |
| Profit After Tax | 14 | 62 | -5 | 57 | 72 | 23 | -22 | 57 | 7 | 14 |
| PAT Margin (%) | 3.0% | 10.9% | -0.8% | 9.3% | 10.7% | 1.6% | -1.3% | 3.2% | 0.5% | 0.9% |
| Adjusted EPS (₹) | 2.0 | 9.0 | -0.7 | 8.1 | 10.4 | 4.1 | -3.9 | 5.1 | 0.6 | 1.3 |
| Dividend Payout Ratio (%) | 49.80% | 11.10% | 0% | 21.50% | 16.90% | 0% | 0% | 39.20% | 0% | 0% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 360 | 415 | 401 | 442 | 516 | 846 | 825 | 926 | 947 | 961 | |
| Debt + | 17 | 16 | 30 | 25 | 17 | 93 | 59 | 80 | 126 | 94 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 51 | 52 | 63 | 55 | 37 | 84 | 107 | 204 | 201 | 201 | |
| Others Liabilities ⓘ | 162 | 119 | 100 | 156 | 172 | 380 | 367 | 384 | 331 | 333 | |
| Total Liabilities ⓘ | 590 | 602 | 595 | 677 | 742 | 1,403 | 1,358 | 1,594 | 1,605 | 1,589 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 317 | 334 | 349 | 351 | 345 | 813 | 831 | 872 | 932 | 908 | |
| CWIP ⓘ | 48 | 43 | 37 | 38 | 61 | 78 | 51 | 31 | 31 | 37 | |
| Investments ⓘ | 6 | 6 | 5 | 4 | 8 | 0 | 0 | 0 | 0 | 0 | |
| Inventories | 58 | 56 | 78 | 100 | 56 | 186 | 180 | 263 | 251 | 248 | |
| Trade Receivables | 15 | 19 | 16 | 34 | 29 | 59 | 78 | 88 | 101 | 101 | |
| Cash Equivalents | 70 | 81 | 81 | 102 | 188 | 209 | 77 | 249 | 236 | 224 | |
| Others Assets ⓘ | 76 | 62 | 29 | 48 | 56 | 57 | 140 | 90 | 55 | 72 | |
| Total Assets ⓘ | 590 | 602 | 595 | 677 | 742 | 1,403 | 1,358 | 1,594 | 1,605 | 1,589 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 34 | 49 | 15 | 63 | 134 | -8 | 21 | 155 | 30 | 36 |
| Cash Flow From Investing Activity ⓘ + | -25 | -37 | -16 | -38 | -121 | -30 | 32 | -157 | -5 | 19 |
| Cash Flow From Financing Activity ⓘ + | -7 | -12 | 3 | -23 | -17 | 31 | -49 | 3 | 27 | -37 |
| Net Cash Flow ⓘ | 2 | 0 | 2 | 1 | -4 | -7 | 5 | 1 | 52 | 18 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 4.46 | 16.12 | -1.21 | 13.39 | 15.09 | 3.4 | -2.63 | 6.47 | 0.75 | 1.51 |
| ROCE (%) | 7.51 | 12.31 | -0.47 | 17.85 | 20.91 | 6.02 | -2.03 | 10.01 | 2.64 | 1.56 |
| Asset Turnover Ratio | 1.01 | 0.99 | 1.06 | 0.98 | 0.97 | 1.39 | 1.22 | 1.24 | 1.01 | 1.09 |
| PAT to CFO Conversion(x) | 2.43 | 0.79 | N/A | 1.11 | 1.86 | -0.35 | N/A | 2.72 | 4.29 | 2.57 |
| Working Capital Days | ||||||||||
| Receivable Days | 9.80 | 10.30 | 10 | 14.70 | 16.70 | 10.90 | 14.90 | 16.70 | 21.30 | 21.10 |
| Inventory Days | 36.70 | 35.40 | 38.70 | 52.30 | 41 | 29.70 | 39.60 | 44.30 | 57.80 | 52.20 |
| Payable Days | 577.60 | 635.30 | 524.20 | 8,184.10 | 406.80 | 345.10 | 240.10 | 341.60 | 496.20 | 326.60 |
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Saurashtra Cement Ltd FAQs
The current trading price of Saurashtra Cement on 30-Sep-2026 16:59 is ₹54.60.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 29-Sep-2026 the market cap of Saurashtra Cement stood at ₹607.6 Cr
The latest P/E ratio of Saurashtra Cement as of 29-Sep-2026 is 89.03.
The latest P/B ratio of Saurashtra Cement as of 29-Sep-2026 is 0.63.
The 52-week high of Saurashtra Cement is ₹112.0 and the 52-week low is ₹48.00.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Saurashtra Cement is ₹1,699 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Saurashtra Cement Ltd is a average quality company.
The key valuation ratios of Saurashtra Cement Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Saurashtra Cement Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Saurashtra Cement Ltd
Saurashtra Cement (SCL) is the flagship company of the Mehta Group, formed in 1956. SCL is one of the leading players in the Indian cement industry, manufacturing Ordinary Portland Cement (OPC) and Pozzolana Portland Cement (PPC). It also added Sulphate Resistant Cement (SRC) and Portland Slag Cement (PSC) to its product range. SCL markets cement under the brand name 'Hathi Cement'. The product is marketed in 50 kg bag, packed in HDPE/PP or paper bags. The product is identified in the market by a special greenish tinge to give superior finish on external surface. Keeping in tune with the recent market trends, the company has launched cement packed in 1 kg, 2 kg, 5 kg and 10 kg bags in the retail cement market under the brand name ‘Chhotu Hathi’. SCL's plant at Ranvav in Gujarat state has a cement manufacturing capacity of 1.4 MTPA. The plant at Ranvav is a modern energy efficient dry process based plant comparable to international standards and makes use of latest machinery sourced from reputed international companies. The plant offers locational advantages because of its proximity to the Porbandar and Veraval/Okha ports. SCL thus has competitive access to the large export markets in the Middle East countries, Sri Lanka and Bangladesh by the economical sea route. SCL's modernization scheme implemented in the past has paid the results. State-of-the-art equipment and control systems installed has led to capacity enhancement, reduction in power and fuel consumption and improvement in quality and emission levels.
Product range of the company includes:
- Ordinary Portland Cement (OPC)
- Pozzolana Portland Cement (PPC)
- Sulphate Resistant Cement (SRC)
- Portland Slag Cement (PSC)
Subsidiary:
Gujarat Sidhee Cement Limited (GSCL) was originally set up as a joint venture between the Gujarat Industrial Investment Corporation and The Mehta Group. GSCL’s plant uses the latest Dry Process Pre-calcination technology comparable to international standards. The state-of-the art plant makes use of machinery which is sourced from reputed international companies. The plant, operating at over 100% capacity, is also one of India's cost effective cement producers.
Awards & Achievements:
- ISO 9002 Certification from RWTUV, Germany for Quality Systems.
- ISO 14001 Certification from RWTUV, Germany for Environmental Management System.
- National Productivity Award for Best Production Performance 1995-96.
- National Productivity Award for Second Best Productivity in 1994-95, 1995-96 & 1996-97.
- CAPEXIL Award for Export Recognition, 1995
- Indira Gandhi National Memorial Award for Excellence in Indian Industry.
- In addition to the above, the Company has received about 50 Awards from Indian Bureau of Mines and Director General of Mines Safety for Mining in relation to Pollution Control, Soil Management, Safety, Operations & Aforestation etc.
- SCL is an ISO 9001:2000 company and recognized Export House in the country.
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