MoneyWorks4Me

Star Cement Ltd (STARCEMENT)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 540575 NSE: STARCEMENT Cement & Construction Materials | Small Cap | Star Cement Share Price

₹186.60 -0.40 (-0.21%)

As on 25-Sep'26 16:59

Star Cement Ltd (STARCEMENT)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 540575 NSE: STARCEMENT Cement & Construction Materials | Small Cap | Star Cement Share Price

₹186.60 -0.40 (-0.21%)

As on 25-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹7,542 Cr.
Current Price
₹186.6
52-Week Low / High
₹180 / 273
TTM EPS
₹9.2
TTM Sales
₹3,807 Cr.
Book Value per Share
₹80.8
P/E Ratio
20.40
Lower than its 5-year historical median
Industry PE
35.8
Price to Book (P/B)
2.31
Lower than its 5-year historical median
Price to Sales (P/S)
1.98
Lower than its 5-year historical median
EV/EBITDA
8.63
Lower than its 5-year historical median
Dividend Yield
1.07%
Profitability Efficiency
Return on Equity (ROE)
12.86%
Outperforms industry median
Return on Capital Employed (ROCE)
16.42%
Outperforms industry median
Return on Assets (ROA)
9.40%
Operating Profit Margin
24.9%
Net Profit Margin
10.34%
Gross Profit Margin
21.6%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
19.65%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
61.75%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
131.29%
Asset Quality
Promoter Holding
58.10%
Pledged shares (%) of Promoter's holding (%)
1.33%
Reserves
₹3,225 Cr.
Equity
₹40.4 Cr.
Face Value
₹1
All Time Low / High
₹56.00 / 308.10

Star Cement stock performance

Key Ratios
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Check Before You Invest

Valuation

Somewhat Undervalued

Price Trend

Semi Strong
Q.1 Is Star Cement Ltd a good quality company?
Star Cement Ltd is a good quality company, based on a consistently good 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 Star Cement Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Star Cement Ltd vs industry peers?
Star Cement Ltd revenue CAGR is 17.03%, compared to the industry median CAGR of 3.07%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Star Cement Ltd?
Promoters hold 58.10% of the Star Cement Ltd, with 1.33% of their stake pledged, indicating low pledge risk.
Q.1 Stock return of Star Cement Ltd over the last decade?
Over the last 5 year(s), the stock has delivered a CAGR of 11.56% 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 end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

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.
Star Cement Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ11.9%21.6%24.4%21.9%13.9%13.2%18.2%21.5%-3.4%11.8%-
Value Creation
Index ⓘ
-0.10.60.70.60.0-0.10.30.6-1.3-0.1-

Growth Parameters ⓘ

Sales ⓘ1,2841,4641,6951,7731,6642,1962,7072,8941,9922,3842,415
Sales YoY Gr.-14%15.8%4.6%-6.2%32%23.3%6.9%-31.2%19.7%-
Adj EPS ⓘ1.956.15.34.34.44.15.1-1.53.43.2
YoY Gr.-163.4%21.3%-13%-18.8%1.2%-6.9%26.1%-128.7%NA-
BVPS (₹) ⓘ152025.127.130.932.236.241.640.241.442
Adj Net
Profit ⓘ
80.1211256219178176164207-59.4137130
Cash Flow from Ops. ⓘ84.724750245327226032640718.6441-
Debt/CF from Ops. ⓘ7.31.70.30.30.50.30.10.222.81-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ7.1%7.5%-4.2%19.7%
Adj EPS ⓘ6.6%-4.7%-5.8%NA
BVPSⓘ12%6%4.6%3.1%
Share Price - 11.6% 6.9% -26.3%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ
13.428.827.120.214.913.711.913.2-3.68.37.7
Op. Profit
Mgn % ⓘ
1422.218.216.114.510.611.513.65.518.917.8
Net Profit
Mgn % ⓘ
6.214.415.112.310.786.17.2-35.85.4
Debt to
Equity ⓘ
10.50.20.10.10.100.10.30.3-
Working Cap
Days ⓘ
255249200119104866956848938
Cash Conv.
Cycle ⓘ
471716155-5-8-799-6

Valuation of Star Cement - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.080.080.601.121.331.331.341.331.331.33
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales1,5281,6151,8311,8431,7202,2222,7052,9113,1633,776
Operating Expenses ⓘ + 1,1201,0931,3821,4491,3871,8772,2362,3542,5852,841
Manufacturing Costs273294359451432557742757776791
Material Costs342302437402403571329463511485
Employee Cost 119107116127131159197215247277
Other Costs ⓘ 3863894704694215899689201,0501,287
Operating Profit ⓘ 408521449394333345468556579936
Operating Profit Margin (%) 26.7%32.3%24.5%21.4%19.3%15.5%17.3%19.1%18.3%24.8%
Other Income ⓘ + 34530283352261119
Exceptional Items ⓘ 0000-650000-11
Interest ⓘ 785214971310133246
Depreciation ⓘ 1181211069390122131147332365
Profit Before Tax ⓘ 215353335322199244380424226532
Tax ⓘ 1416303412-313212857142
Profit After Tax 201336305287187247248295169390
PAT Margin (%) 13.2%20.8%16.7%15.6%10.9%11.1%9.2%10.1%5.3%10.3%
Adjusted EPS (₹)4.67.97.16.94.56.16.17.34.29.7
Dividend Payout Ratio (%)0%12.70%0%14.40%0%0%0%0%0%20.60%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 1,1461,4761,7241,8572,0742,1682,4162,7102,8793,191
Share Capital ⓘ 41.9241.9241.9241.2441.2440.4240.4240.4240.4240.42
Reserves ⓘ 1,1041,4341,6821,8162,0332,1282,3762,6702,8393,151
Debt +672332511115526130369517
Long Term Debt3721992100072293493
Short Term Debt301133501015526587624
Minority Interest576268700000-0-3
Trade Payables941891259698212277219233257
Others Liabilities ⓘ 42437728988149120122304383481
Total Liabilities ⓘ 2,3922,4362,2582,1222,3362,5062,8423,3623,8644,443

Fixed Assets

Net Fixed Assets ⓘ +8637857226968239238911,4162,4212,612
Gross Block1,0041,0561,0961,1671,3861,6071,7052,3673,6964,231
Accumulated Depreciation1412713744715636848149511,2751,619
CWIP ⓘ 5536742381271095511,02222095
Investments ⓘ 1122216717322258
Inventories161295277257235195374335446466
Trade Receivables138146144122132129105151200242
Cash Equivalents 20202112844723853129752125
Others Assets ⓘ 1,1541,153828524547598438340523647
Total Assets ⓘ 2,3922,4362,2582,1222,3362,5062,8423,3623,8644,443
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + 300421616483350417358490296765
PBT ⓘ 215353335322199244380424226544
Adjustment ⓘ 186169115747410294138362406
Changes in Working Capital ⓘ -72-35226138108106-474-223-75
Tax Paid ⓘ -28-66-59-51-30-35-68-76-69-109
Cash Flow From Investing Activity ⓘ + -89-25-193-136-333-289-255-650-529-843
Capex -89-32-80-227-107-197-569-1,036-576-487
Net Investments -33-11575-191-12225135535-356
Others ⓘ 34316-3631633112-1
Cash Flow From Financing Activity ⓘ + -218-393-348-201-3-176108622452
Net Proceeds from Shares ⓘ 0000000000
Net Proceeds from Borrowing ⓘ -76-173-197-1-1-0072242248
Interest Paid ⓘ -78-52-14-9-7-13-10-11-29-48
Dividend Paid ⓘ 00-52-5000000-81
Others ⓘ -64-168-85-1414-163202511-67
Net Cash Flow ⓘ -727614614-47114-74-8-27
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)18.2525.6419.0616.059.5211.6310.811.516.0412.86
ROCE (%)14.8621.0118.8318.0410.4212.0616.8716.518.4216.42
Asset Turnover Ratio0.640.670.780.910.8411.111.040.981.01
PAT to CFO Conversion(x)1.491.252.021.681.871.691.441.661.751.96
Working Capital Days
Receivable Days6931.8028.9024.4024.9019.6014.4014.5018.1019.10
Inventory Days43.6051.105748.9048.2032.4035.1040.1040.4039.50
Payable Days125.10170.60131.40100.5087.9099.40271.90195.50161184.20

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Announcements

Star Cement Ltd FAQs

The current trading price of Star Cement on 25-Sep-2026 16:59 is ₹186.6.

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 24-Sep-2026 the market cap of Star Cement stood at ₹7,542 Cr

The latest P/E ratio of Star Cement as of 24-Sep-2026 is 58.09.

The latest P/B ratio of Star Cement as of 24-Sep-2026 is 4.44.

The 52-week high of Star Cement is ₹272.5 and the 52-week low is ₹180.2.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Star Cement is ₹2,415 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Star Cement Ltd is a good quality company.

The key valuation ratios of Star 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 Star Cement Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Star Cement Ltd

Star Cement (formerly Cement Manufacturing Company Limited) is a public limited company domiciled in India and incorporated on November 02, 2001 as per the provisions of the Companies Act. The company is the largest cement manufacturer in north east India. The manufacturing units are located at Lumshnong, Meghalaya and Guwahati, Assam. The Company is selling its product across north eastern and eastern states of India. The company’s brand ‘Star Cement’ has established itself as the most accredited brand of the region on grounds of both quality and fair pricing.

Star Cement is listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). Star Cement is one of the most profitable cement manufacturers in North East India. The company has received BIS License for the products being sold in the market. The company has developed a good image in the Market since launch of the product due to its superior quality. The company has also received ISO certificate.

Business area of the company

The Company is engaged in the manufacturing and selling of Cement Clinker & Cement.

Products

  • Ordinary Portland Cement 53 & 43 Grade
  • Portland Pozzolana Cement (PPC)
  • Star Anti Rust Cement (ARC)
  • Portland Slag Cement

Awards and accreditations

2016-17

  • ABP News HR & Leadership Awards for Excellence in Employee Engagement in February 2016
  • Transport Excellence Award 2016 - National Award in Mining and in the Construction segment
  • Gold Award (Alternative Media - Any single execution on non-conventional OOH) and Silver Award (Outdoor Media Plan of the Year - Local) at OAA 2016
  • Award for Best practices in Employee Engagement - National HRD Network in 2016
  • Awarded first prize in the Thermal Power Station sector - National Energy Conservation Award, 2015 and 2014
  • Award for Most Preferred Cement Brand for five years consecutively at the North East Consumer Awards in 2015

2018-19

  • The company has won the ‘CSR Leadership Award’ in Manufacturing category organised by World CSR Congress and ET NOW for its exemplary contribution to the neighboring community of cement plant operational area through implementation of various CSR projects in the domain of health & sanitation, education, livelihood, rural development, environment and bio-diversity verticals.
  • The company received a ‘Certificate of Appreciation’ from the Office of the Deputy Commissioner, Kamrup, Assam for making adequate arrangement for serving food and water to the devotees during the Ambubachi Mahotsav, 2018.

2019-20

  • The Company has won the coveted ‘Supply Chain & Logistics Excellence (SCALE) Award 2019’- under Cement Industry Category organised by the prestigious Confederation of Indian Industry (CII) Institute of Logistics.
  • The Company has received a Certificate of Appreciation from Deputy Commissioner, Kamrup Metropolitan District for maintaining high standard of Workmanship, Hygiene, Maintenance of Cleanliness, Discipline, Sanitation and in serving drinking water to devotees in Ma Kamakhya Temple during Ambubachi, 2019 which was carried out for a period of one week in the month of June, 2019.

Milestones

2016-17

  • Installed mesh in coal mill outlet to avoid foreign material, resulting in a steady coal flow that is expected to reduce flushing from FK pump and kiln downtime.
  • Installed variable fan drives in raw mill cyclone discharge bag filter, raw mill reject bag filter fan, RABH air slide blower bag filter fan, kiln tire cooling fan, blending silo top bag filter fan and silo aeration blower, lowering power consumption.

2017-18

  • Invested a sum of Rs. 2.8 billion over the past decade and launched aggressive campaigns outside North East India.
  • Engaged local celebrities for endorsing its brands (Debojit Saha, Saurabhee Debbarma and Lou Majaw, among others.

2018-19

  • Company has won the ‘CSR Leadership Award’ in Manufacturing category organised by World CSR Congress and ET NOW for its exemplary contribution to the neighboring community of cement plant operational area through implementation of various CSR projects in the domain of health & sanitation, education, livelihood, rural development, environment and bio-diversity verticals. Your Company also received a ‘Certificate of Appreciation’ from the Office of the Deputy Commissioner, Kamrup, Assam for making adequate arrangement for serving food and water to the devotees during the Ambubachi Mahotsav, 2018”.

2019-20

  • The Company launched Star Anti Rust cement through a 360 degree campaign ‘Dhalai Mein Must Star Anti Rust’ using above-the-line and below-the-line modes of promotion; it established the need for using Anti Rust Cement in dhalai applications.
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