Star Cement Ltd

Q4 FY25Cement & Cement Products

Star Cement Q4 FY25 earnings call: Revenue & Margins

Q4 FY25 earnings call: what management guided on revenue, margins and order book.

Price₹195

Market cap₹8.3K Cr

P/E20.6

Updated23 Aug 2026

Read4 min read

The short version

FY26 sales volume target remains around 5.4 to 5.5 million tons. Volume Growth: Targeting ~5.4-5.5 million tons cement sales in FY26, similar to previous guidance. - Price Outlook: Expecting Rs.5-7/ton price increase from Q4 levels to sustain in Q1 FY26; possible off-season softness later. - Incentives/Subsidy: Annual incentives of Rs.200-250 crores expected for next 2-3 years with stable per ton run rate. - EBITDA: Q4 FY25 EBITDA Rs.268 crores; full year Rs.589 crores.

From Star Cement Ltd's Q4 FY25 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

FY26 sales volume target remains around 5.4 to 5.5 million tons.
Monsoon may impact Q1, but management expects to broadly achieve FY26 volume target.
Price increase of Rs.5-7 per ton expected to sustain in Q1 FY26; potential seasonal price pressure post Q1.
Near-term clinker capacity in Northeast sufficient for 4-5 years; mine acquisitions aim to secure long-term expansion options.
Focus on entering Rajasthan market with 3-4.5 million tons grinding capacity and 3 million tons clinker capacity planned.
Expect grinding capacity growth in Rajasthan alongside a possible new grinding unit in Northeast in 5-6 years.

2 more points management made on revenue & sales performance

Profitability & Margins

Volume Growth: Targeting ~5.4-5.5 million tons cement sales in FY26, similar to previous guidance.
Price Outlook: Expecting Rs.5-7/ton price increase from Q4 levels to sustain in Q1 FY26; possible off-season softness later.
Incentives/Subsidy: Annual incentives of Rs.200-250 crores expected for next 2-3 years with stable per ton run rate.
EBITDA: Q4 FY25 EBITDA Rs.268 crores; full year Rs.589 crores. Operating margins improving with premium product sales growth (12% now, aiming 20%).
CAPEX: Rs.820 crores planned in FY26 and Rs.600 crores in FY27 indicative of capacity expansion, supporting revenue and profit growth.
New Capacities: Stabilization of new clinker and grinding units to further improve efficiencies and volumes.

2 more points management made on profitability & margins

See what Star Cement Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

FY26 CAPEX planned at around Rs. 820 crores.
FY27 CAPEX planned at around Rs. 600 crores.
Planned commissioning of two grinding units: Silchar unit expected by Q4 FY26 and another unit around Q3/Q4 FY27.
Focus on expanding grinding capacity, especially in Northeast and Rajasthan.
New clinker capacity expansions planned in Rajasthan (~3 million tons) alongside grinding capacity (~4-4.5 million tons).
Continued investment in brownfield projects and securing environmental/forest clearances for future expansions.
Setting up an AC block and construction chemicals plant in Guwahati, expected to generate around Rs. 15 crores EBITDA in the first year, commencing production soon.

2 more points management made on capital expenditure plans

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Ranked on what management guided this quarter

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4₹3.3L Cr

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5₹81.3K Cr

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

The transcript does not explicitly mention any current or future fundraising plans through debt or equity. However, relevant points on financial plans include: - The company has significant upcoming CAPEX of around Rs. 820 crores in FY26 and Rs. 600 crores in FY27 for new grinding units and expansion. - Management indicates a conservative financial approach while expanding in Rajasthan and the Northeast.

2 more points management made on fundraising & capital structure

See what Star Cement Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The transcript provided does not mention any details about current, expected order book, or pending orders for Star Cement Limited. The discussion primarily focuses on financial results, production volumes, CAPEX plans, debt levels, subsidies, regional capacity expansions, competitive landscape, and operational efficiencies. No specific information related to order book or pending orders was disclosed during the Q4 FY25 earnings call.

Star Cement Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹1.2K Cr, net profit ₹147 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Star Cement's management said in earlier quarters

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Frequently Asked Questions

What were Star Cement Ltd Q4 FY25 results?

What is Star Cement Ltd share price analysis?

Star Cement Ltd currently shows a neutral. The stock trades at a P/E of 20.6 with a market cap of ₹8,268 Cr. Investors should review the full earnings analysis for detailed insights.

Is Star Cement Ltd planning capital expenditure?

FY26 CAPEX planned at around Rs.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.