Star Cement Ltd

Q4 FY26Cement & Cement Products

Star Cement Q4 FY26 earnings call: Revenue & Margins

Q4 FY26 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

Star Cement expects a 10% to 12% volume growth in FY27 over the FY26 volume of approximately 5.3 million tons. Star Cement expects a 10%-12% volume growth in cement sales for FY27, building on FY26 volumes.

From Star Cement Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Star Cement expects a 10% to 12% volume growth in FY27 over the FY26 volume of approximately 5.3 million tons.
The company aims to increase capacity utilization to 80%-90% in new units within 3.5 to 4 years.
Expansion projects include clinker and grinding units in Rajasthan, Bihar, Umrangso, Haryana, and Jorhat, totaling around 9 million tons of cement capacity.
Capex is planned aggressively with INR600-700 crores in FY27 and INR1,500 crores in FY28 to support growth and commissioning of plants starting around H1 FY29.

2 more points management made on revenue & sales performance

Profitability & Margins

Star Cement expects a 10%-12% volume growth in cement sales for FY27, building on FY26 volumes.
EBITDA per ton in Northeast anticipated between INR1,500 to INR1,700 over the next 2-3 years before Rajasthan project commissioning.
Post Rajasthan project ramp-up, blended EBITDA per ton expected around INR1,300-1,400 due to absorption of fixed costs initially.
Overall EBITDA and profits to grow with volume expansion, especially from planned new capacities in Rajasthan, Bihar, Haryana, Jorhat, and Umrangso.
EBITDA for FY26 stood strong at INR955 crores with PAT of INR390 crores, showing robust growth from previous year.

2 more points management made on profitability & margins

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

Capital Expenditure Plans

Star Cement is planning significant capex for Rajasthan, Bihar, and Umrangso projects.
Rajasthan unit: 3.3 million tons clinker plant + 2-2.5 million tons grinding; total capex ~INR 2,400-2,500 crores plus 10% variation; targeted start by 1H FY29.
Bihar grinding unit to be sourced from Meghalaya clinker; timeline ~2 years, land acquisition underway.
Umrangso grinding capacity ~2 million tons; clinker production in Umrangso as it has limestone.
Capex estimates: INR 600-700 crores in FY27 and around INR 1,500 crores in FY28.
Approvals and land acquisition expected by October; capex to start post-approvals.
Focus on creating dense distribution and brand investment for new plants with breakeven over 3.5 to 4 years.

2 more points management made on capital expenditure plans

Top-ranked in Cement & Cement Products

Ranked on what management guided this quarter

5x potential

1Grasim Inds₹2.2L Cr

Rev 1Mar 3

2BIGBLOC Const.₹567 Cr

Rev 2Mar 1

3₹1.3K Cr

Rev 3Mar 1

4₹3.3L Cr

Rev 3Mar 3

5₹81.3K Cr

Rev 3Mar 3

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

Fundraising & Capital Structure

Star Cement has received Board approval for raising funds through QIP (Qualified Institutional Placement), but no final decision has been made yet.
The QIP fundraising is anticipated once the net debt to EBITDA ratio reaches around 1.5.
The company has not planned the exact timing for the QIP due to current weak market conditions.
They will inform investors in advance when they decide to proceed with the QIP.

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 from Star Cement Limited's conference call does not explicitly mention details about the current or expected order book or pending orders. The discussion primarily focuses on: - Volume growth guidance (10%-12% growth expected for FY27 from approx. 5.3 million tons) - Capex plans and timelines for new plants in Rajasthan, Bihar, Umrangso, Jorhat, and Haryana - Pricing trends and trade penetration in Northeast markets

2 more points management made on order book & pipeline

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.

Full financials →

What Star Cement's management said in earlier quarters

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Frequently Asked Questions

What were Star Cement Ltd Q4 FY26 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?

Star Cement is planning significant capex for Rajasthan, Bihar, and Umrangso projects.

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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.