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]
Product OfferingsThe company primarily manufactures two standard types of cement including Ordinary Portland Cement and Portland Pozzolana Cement, the mix being 35:65.[1]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | UltraTech Cem. | 12255.00 | 49.24 | 361129.32 | 0.63 | 1237.98 | 75.23 | 19606.93 | 20.33 | 10.89 | 81724.53 | 18.35 | 7334.75 | 1231.58 | 5.01 | 5.19 | 0.35 |
| 2. | Grasim Inds | 2795.80 | 43.96 | 190260.27 | 0.36 | 1498.04 | 68.24 | 39899.58 | 16.59 | 7.50 | 159663.26 | 20.07 | 4327.58 | 553.48 | 1.91 | 1.69 | 2.06 |
| 3. | Ambuja Cements | 549.55 | 23.64 | 135839.06 | 0.36 | 2302.28 | 233.64 | 9174.49 | 21.48 | 10.50 | 38772.67 | 18.83 | 5746.21 | 1935.75 | 2.42 | 7.02 | 0.02 |
| 4. | Shree Cement | 27550.00 | 57.83 | 99402.46 | 0.40 | 309.82 | 303.60 | 4761.07 | 17.44 | 6.71 | 20146.65 | 23.33 | 1718.89 | 308.51 | 4.43 | 3.97 | 0.10 |
| 5. | J K Cements | 5712.00 | 42.65 | 44135.62 | 0.26 | 159.25 | 275.56 | 3019.20 | 17.93 | 13.99 | 12883.19 | 18.56 | 1034.93 | 160.53 | 6.81 | 5.11 | 1.00 |
| 6. | Dalmia BharatLtd | 2177.30 | 36.70 | 40838.73 | 0.41 | 239.00 | 413.04 | 3417.00 | 10.69 | 5.58 | 14325.00 | 20.13 | 1112.86 | 236.00 | 2.31 | 2.48 | 0.40 |
| 7. | ACC | 1728.10 | 10.04 | 32451.52 | 0.43 | 1119.26 | 401.44 | 5931.67 | 27.99 | 17.44 | 24060.83 | 14.84 | 3230.72 | 1119.23 | 1.63 | 9.46 | 0.02 |
| 8. | India Cements | 473.60 | – | 14676.73 | 0.00 | -6.86 | 97.22 | 1117.15 | 10.97 | -5.85 | 4242.07 | -0.58 | -332.17 | -6.86 | 1.53 | -5.81 | 0.14 |
| – | Median: 34 Co. | 200.0 | 30.02 | 3043.93 | 0.2 | 19.92 | 119.45 | 601.69 | 16.98 | 6.11 | 2503.97 | 11.98 | 65.69 | 22.52 | 2.31 | 1.46 | 0.62 |
Standalone figures in ₹ crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 1,254.65 | 1,219.46 | 1,460.47 | 1,393.04 | 1,222.13 | 1,081.88 | 1,245.38 | 971.53 | 1,006.69 | 903.16 | 1,197.13 | 1,024.63 | 1,117.15 |
Expenses | 1,345.89 | 1,289.01 | 1,504.93 | 1,388.02 | 1,214.03 | 1,032.84 | 1,198.52 | 1,002.52 | 1,170.48 | 1,091.57 | 1,196.64 | 942.68 | 1,035.76 |
Operating Profit | -91.24 | -69.55 | -44.46 | 5.02 | 8.10 | 49.04 | 46.86 | -30.99 | -163.79 | -188.41 | 0.49 | 81.95 | 81.39 |
Other Income | 3.87 | 298.22 | -95.41 | 6.87 | 5.93 | 43.06 | 40.54 | 247.05 | 16.16 | -179.64 | 20.83 | 8.80 | 13.40 |
Profit before tax | -206.79 | 114.14 | -242.25 | -98.91 | -98.80 | -24.03 | -32.91 | 78.29 | -274.47 | -497.06 | -101.14 | -16.24 | -11.30 |
Tax % | -33.47% | 20.51% | -10.10% | -23.90% | -17.62% | -31.29% | -10.88% | 26.61% | -12.57% | -13.72% | -25.18% | -15.27% | -39.29% |
Net Profit | -137.58 | 90.73 | -217.79 | -75.27 | -81.39 | -16.51 | -29.33 | 57.46 | -239.98 | -428.84 | -75.67 | -13.76 | -6.86 |
EPS in Rs | -4.44 | 2.93 | -7.03 | -2.43 | -2.63 | -0.53 | -0.95 | 1.85 | -7.74 | -13.84 | -2.44 | -0.44 | -0.22 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 4,441 | 4,424 | 4,229 | 5,079 | 5,176 | 5,628 | 5,058 | 4,437 | 4,713 | 5,381 | 4,942 | 4,088 | 4,242 |
Expenses | 3,902 | 3,740 | 3,453 | 4,216 | 4,475 | 4,986 | 4,469 | 3,628 | 4,251 | 5,553 | 4,829 | 4,436 | 4,267 |
Operating Profit | 539 | 684 | 776 | 863 | 701 | 642 | 589 | 809 | 462 | -173 | 114 | -347 | -25 |
Other Income | -71 | 30 | 18 | 14 | 11 | 27 | -76 | 21 | 15 | 213 | 92 | 69 | -137 |
Interest | 354 | 426 | 382 | 360 | 340 | 324 | 334 | 265 | 204 | 234 | 240 | 277 | 186 |
Depreciation | 276 | 258 | 219 | 257 | 256 | 251 | 247 | 242 | 220 | 213 | 220 | 239 | 279 |
Profit before tax | -162 | 29 | 192 | 260 | 116 | 93 | -68 | 323 | 54 | -407 | -255 | -794 | -626 |
Net Profit | -162 | 29 | 130 | 173 | 101 | 69 | -36 | 222 | 39 | -189 | -203 | -668 | -525 |
EPS in Rs | -5.29 | 0.96 | 4.23 | 5.64 | 3.27 | 2.24 | -1.15 | 7.16 | 1.26 | -6.08 | -6.54 | -21.54 | -16.94 |
Dividend Payout % | 0% | 0% | 24% | 18% | 24% | 36% | -52% | 14% | 80% | 0% | 0% | 0% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 307 | 307 | 308 | 308 | 308 | 310 | 310 | 310 | 310 | 310 | 310 | 310 | 310 |
Reserves | 3,544 | 3,286 | 4,673 | 4,802 | 4,892 | 4,930 | 5,105 | 5,308 | 5,508 | 5,289 | 5,089 | 9,313 | 9,295 |
Borrowings | 3,202 | 3,201 | 3,155 | 2,921 | 3,100 | 3,270 | 3,533 | 3,006 | 3,068 | 2,924 | 2,622 | 1,165 | 1,340 |
Other Liabilities | 1,683 | 1,518 | 2,226 | 2,614 | 2,399 | 2,595 | 2,504 | 2,250 | 2,899 | 2,662 | 2,424 | 2,851 | 2,574 |
Total Liabilities | 8,737 | 8,311 | 10,362 | 10,645 | 10,699 | 11,105 | 11,452 | 10,874 | 11,785 | 11,186 | 10,445 | 13,640 | 13,519 |
Fixed Assets | 4,161 | 3,586 | 7,182 | 6,973 | 6,796 | 6,713 | 6,826 | 6,670 | 6,688 | 6,547 | 6,623 | 11,436 | 11,307 |
Gross Block | 7,077.61 | 6,792.22 | 7,453.61 | 7,501.49 | 7,579.39 | 7,743.83 | 8,102.37 | 8,187.07 | 8,420.43 | 8,484.10 | 8,709.12 | 13,625.29 | – |
Accumulated Depreciation | 2,916.41 | 3,206.40 | 271.21 | 528.61 | 783.06 | 1,030.79 | 1,276.58 | 1,517.06 | 1,732.87 | 1,937.54 | 2,086.06 | 2,189.15 | – |
CWIP | 101 | 89 | 93 | 128 | 171 | 177 | 196 | 187 | 272 | 313 | 190 | 177 | 214 |
Investments | 946 | 1,585 | 551 | 619 | 588 | 695 | 737 | 746 | 780 | 494 | 395 | 130 | 169 |
Other Assets | 3,529 | 3,051 | 2,536 | 2,926 | 3,143 | 3,520 | 3,694 | 3,271 | 4,046 | 3,832 | 3,237 | 1,897 | 1,829 |
Total Assets | 8,737 | 8,311 | 10,362 | 10,645 | 10,699 | 11,105 | 11,452 | 10,874 | 11,785 | 11,186 | 10,445 | 13,640 | 13,519 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 536 | 579 | 917 | 812 | 468 | 413 | 414 | 1,036 | 418 | -11 | 310 | 60 |
Cash from Investing Activity | -243 | -99 | -160 | -188 | -294 | -240 | -340 | -196 | -254 | 429 | 246 | 1,730 |
Cash from Financing Activity | -294 | -479 | -798 | -624 | -173 | -175 | -74 | -840 | -168 | -405 | -558 | -1,729 |
Net Cash Flow | -2 | 2 | -41 | 0 | 2 | -2 | -0 | 0 | -5 | 14 | -2 | 61 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 35 | 38 | 46 | 37 | 44 | 47 | 52 | 45 | 71 | 55 | 51 | 59 |
Inventory Days | 344 | 333 | 321 | 307 | 261 | 294 | 334 | 274 | 402 | 302 | 245 | 236 |
Days Payable | 540 | 452 | 555 | 543 | 456 | 470 | 539 | 505 | 621 | 518 | 481 | 413 |
Cash Conversion Cycle | -161 | -81 | -188 | -200 | -151 | -129 | -153 | -186 | -147 | -161 | -185 | -118 |
Working Capital Days | -73 | -50 | -105 | -45 | -11 | -20 | -48 | -67 | -28 | 27 | -10 | -15 |
ROCE % | 4% | 7% | 8% | 8% | 6% | 5% | 4% | 7% | 3% | -4% | -1% | -6% |
Direct from BSE filings, auto-summarised
External media mentions & references
Editorial & research coverage
Oct 2025
Jul 2025
May 2025
May 2024
Feb 2024
Nov 2023
Aug 2023
May 2023
Feb 2023
Nov 2022
Aug 2022
Jun 2022
Jan 2021
Stock Analysis
India Cements Limited is a major cement manufacturer based in Chennai, incorporated in 1946. It has diversified into related sectors like shipping, captive power, and coal mining, with its core business remaining cement production.
Currently no data available for Order Book.
Corporate Announcements
