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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

₹218.45 10.30 (4.95%)

As on 12-Jun'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

₹218.45 10.30 (4.95%)

As on 12-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹8,829 Cr.
Current Price
₹218.5
52-Week Low / High
₹197 / 308
TTM EPS
₹9.7
TTM Sales
₹3,776 Cr.
Book Value per Share
₹79
P/E Ratio
22.44
In line with its 5-year historical median
Industry PE
36.8
Price to Book (P/B)
2.77
In line with its 5-year historical median
Price to Sales (P/S)
2.34
Lower than its 5-year historical median
EV/EBITDA
9.73
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
6.04%
Underperforms industry median
Return on Capital Employed (ROCE)
8.42%
Underperforms industry median
Return on Assets (ROA)
4.67%
Operating Profit Margin
18.3%
Net Profit Margin
5.34%
Gross Profit Margin
15.8%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
8.68%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
3.99%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-42.79%
Asset Quality
Promoter Holding
58.12%
Pledged shares (%) of Promoter's holding (%)
1.33%
Reserves
₹3,151 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

Fair

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 11.41%, compared to the industry median CAGR of 5.89%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Star Cement Ltd?
Promoters hold 58.12% 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 14.76% 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'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 12%14.9%21%18.8%18%10.4%12.1%16.9%16.5%8.4%-
Value Creation
Index
-0.10.10.60.40.3-0.3-0.10.20.2-0.4-

Growth Parameters

Sales 1,7151,5281,6151,8311,8431,7202,2222,7052,9113,1633,776
Sales YoY Gr.--10.9%5.7%13.4%0.7%-6.7%29.2%21.7%7.6%8.7%-
Adj EPS 3.24.77.97.16.95.66.16.17.34.29.7
YoY Gr.-44.9%69.7%-9.6%-2.8%-18.8%8.5%0.3%19.4%-43.3%-
BVPS (₹) 25.227.335.241.14550.353.759.867.171.279
Adj Net
Profit
134195331299286232247248296168393
Cash Flow from Ops. 97300421617483350417358490296-
Debt/CF from Ops. 9.72.710.10000.10.31.3-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 7%11.4%12.5%8.7%
Adj EPS 2.9%-9.8%-12.1%-43.3%
BVPS12.3%9.6%9.9%6.3%
Share Price - 14.5% 15.2% 1.6%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
13.617.725.218.71611.811.610.811.5613
Op. Profit
Mgn %
23.326.732.324.521.419.315.517.319.218.324.8
Net Profit
Mgn %
8.213.220.816.715.613.511.19.210.25.310.4
Debt to
Equity
0.90.70.3000000.10.10.2
Working Cap
Days
2663443412831971781381139910357
Cash Conv.
Cycle
8476384546482210172916

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1,7151,5281,6151,8311,8431,7202,2222,7052,9113,163
Operating Expenses + 1,3161,1201,0931,3821,4491,3871,8772,2362,3542,585
Manufacturing Costs306273294359451432557742757776
Material Costs347342302437402403571329463511
Employee Cost 108119107116127131159197215247
Other Costs 5553863894704694215899689201,050
Operating Profit 399408521449394333345468556578
Operating Profit Margin (%) 23.3%26.7%32.3%24.5%21.4%19.3%15.5%17.3%19.1%18.3%
Other Income + 1345302833522611
Exceptional Items -10000-650000
Interest 837852149713101332
Depreciation 1711181211069390122131147332
Profit Before Tax 145215353335322199244380424226
Tax 61416303412-313212857
Profit After Tax 139201336305287187247248295169
PAT Margin (%) 8.1%13.2%20.8%16.7%15.6%10.9%11.1%9.2%10.1%5.3%
Adjusted EPS (₹)3.24.67.97.16.94.56.16.17.34.2
Dividend Payout Ratio (%)0%0%12.70%0%14.40%0%0%0%0%0%

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!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 1,0551,1461,4761,7241,8572,0742,1682,4162,7102,879
Share Capital 42424242414140404040
Reserves 1,0131,1041,4341,6821,8162,0332,1282,3762,6702,839
Debt +749672332511115526130369
Long Term Debt3843721992100072293
Short Term Debt3653011335010155265876
Minority Interest53576268700000-0
Trade Payables140941891259698212277219233
Others Liabilities 46842437728988149120122304383
Total Liabilities 2,4662,3922,4362,2582,1222,3362,5062,8423,3623,864

Fixed Assets

Net Fixed Assets +9198637857226968239238911,4162,421
Gross Block1,6741,0041,0561,0961,1671,3861,6071,7052,3673,696
Accumulated Depreciation7551412713744715636848149511,275
CWIP 495536742381271095511,022220
Investments 21122216717322
Inventories209161295277257235195374335446
Trade Receivables449138146144122132129105151200
Cash Equivalents 2420202112844723853129752
Others Assets 8151,1541,153828524547598438340523
Total Assets 2,4662,3922,4362,2582,1222,3362,5062,8423,3623,864

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 97300421616483350417358490296
PBT 145215353335322199244380424226
Adjustment 253186169115747410294138362
Changes in Working Capital -273-72-35226138108106-474-223
Tax Paid -28-28-66-59-51-30-35-68-76-69
Cash Flow From Investing Activity + -79-89-25-193-136-333-289-255-650-529
Capex -81-89-32-80-227-107-197-569-1,036-576
Net Investments 0-33-11575-191-12225135535
Others 134316-3631633112
Cash Flow From Financing Activity + -14-218-393-348-201-3-1761086224
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -106-76-173-197-1-1-0072242
Interest Paid -83-78-52-14-9-7-13-10-11-29
Dividend Paid 000-52-5000000
Others 175-64-168-85-1414-163202511
Net Cash Flow 4-727614614-47114-74-8

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)14.118.2525.6419.0616.059.5211.6310.811.516.04
ROCE (%)12.0414.8621.0118.8318.0410.4212.0616.8716.518.42
Asset Turnover Ratio0.760.640.670.780.910.8411.111.040.98
PAT to CFO Conversion(x)0.71.491.252.021.681.871.691.441.661.75
Working Capital Days
Receivable Days78.506931.8028.9024.4024.9019.6014.4014.5018.10
Inventory Days32.9043.6051.105748.9048.2032.4035.1040.1040.40
Payable Days114.30125.10170.60131.40100.5087.9099.40271.90195.50161

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.080.080.601.121.331.331.341.331.33
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Star Cement Ltd FAQs

The current trading price of Star Cement on 12-Jun-2026 16:59 is ₹218.4.

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 11-Jun-2026 the market cap of Star Cement stood at ₹8,829.3 Cr

The latest P/E ratio of Star Cement as of 11-Jun-2026 is 67.78.

The latest P/B ratio of Star Cement as of 11-Jun-2026 is 5.27.

The 52-week high of Star Cement is ₹308.1 and the 52-week low is ₹196.8.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Star Cement is ₹2,384 ( 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 Fair 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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About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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