Arthneeti

Star Cement Q1 FY27 Share Price & Earnings Call Analysis

₹163.01+0.37% today
Market cap
₹6,595 Cr
P/E
17.45
ROE
13.21%
PEG
1.00
Price to sales
1.74
Debt to equity
0.19
52W high / low
₹260 / ₹158
Sales growth (5Y)
17.03%
EBITDA margin
23.70%
Net profit margin
10.54%
Promoter holding
58.12%
Sales (last year)
₹3,807 Cr

Star Cements Ltd is engaged in manufacturing and selling of Cement Clinker & Cement. It sells its products across north-eastern and eastern states in India.[1] It is the largest cement manufacturer in North-east India.[2]

Guidance scorecard · Q1 FY27 call

What Star Cement Ltd's management guided
and where it ranks in Cement & Cement Products

#14of 17 in
Cement & Cement Products
Revenue0–10%MarginsFlatCapexPlannedFundraisingPlannedOrder bookWhat management said

RevenueQ1 FY27 call

0–10%
  • Full year volume growth guidance revised down from 11-12% to around 8-9% due to Q2 challenges, including Assam flooding. Growth expected to improve in Q3 and Q4.
  • Northeast sales expected to grow about 8-9% in FY27; industry growth forecast around 7%.
  • Clinker sales likely to be flat or slightly decline (5-10%) in FY27 due to increased clinker imports in Northeast.
  • Non-cement revenue target of INR 150 crores for the year remains intact with focus on expanding RMC plants and AAC division.
  • Long-term capacity addition planned with about 1 million tons clinker and grinding capacity addition expected over next 3 years by key players.

2 more points from Star Cement Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

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

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Star Cement plans significant capex primarily focused on Rajasthan and North India over the next 2 years, totaling around INR 2,600-2,900 crores (including GST).
  • Rajasthan project includes ~3 million tons grinding and ~3.3 million tons clinker capacity.
  • North project involves ~2 million tons grinding capacity in Jhajjar.
  • EC for North project expected by first week of October 2026; construction planned to start between mid-October to November 2026 with an 18-20 month timeline to completion (~Q1 FY29).
  • FY27 capex guidance is INR 500 crores for the ongoing projects; FY28 capex expected around INR 1,500 crores.

2 more points from Star Cement Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

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

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Ask what Star Cement Ltd said on the order book →

Full Q1 FY27 analysis
Full Cement & Cement Products ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Cement & Cement Products
on management's own guidance

  1. BIGBLOC Const.Good growth
    2
  2. Strong growth
    1
  3. J K Cements LtdGood growth
    3
See all potential multibaggersWhere does Star Cement Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Cement & Cement Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Flat₹1.99L Cr34.6
2BIGBLOC Const.20–40%Up 2%+₹613 Cr364.4
3J K Cements Ltd20–40%Flat₹37,843 Cr38.8
410–20%Up 2%+₹1,289 Cr—
510–20%Flat₹3.21L Cr37.3
610–20%Flat₹83,058 Cr50.9

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Pro shows every company guiding 40%+ revenue growth →Full Cement & Cement Products ranking

Financials of Star Cement Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Star Cement Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +8297605856519147516427191,0529128118801,174
Expenses +663631487503734635546615789684621678858
Operating Profit1661299914918011696104263228190202315
OPM %20%17%17%23%20%15%15%14%25%25%23%23%27%
Other Income +139648123523-13
Interest123346710910111213
Depreciation35323637427383898885909199
Profit before tax1431046511314139881711359299207
Tax %33%10%38%35%38%21%25%-19%28%27%23%25%29%
Net Profit +96934174883169123987174147
EPS in Rs2.382.311.011.822.170.770.140.223.052.441.781.853.66

Financials of Star Cement Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +1,4301,7151,5281,6151,8311,8431,7202,2222,7052,9113,1633,776
Expenses +9941,3161,1191,0931,3821,4491,3871,8772,2362,3532,5852,841
Operating Profit436399408521449394333345468557579936
OPM %31%23%27%32%25%21%19%16%17%19%18%25%
Other Income +1124529-36335225108
Interest8783785214971310133246
Depreciation2241711181211069390122131147332365
Profit before tax126145215353335322199244380424226532
Tax %4%4%6%5%9%11%6%-1%35%30%25%27%
Net Profit +121139195336305287187247248295169390
EPS in Rs28.303.204.647.897.136.924.546.116.137.304.189.73
Dividend Payout %28%0%0%13%0%14%0%0%0%0%0%0%

Financials of Star Cement Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital424242424241414040404040
Reserves8791,0131,1041,4341,6821,8162,0332,1282,3762,6702,8393,151
Borrowings +8809408014327413181635147403603
Other Liabilities +388471534597499488470561680745825852
Total Liabilities2,1902,4662,4802,5062,2972,3582,5622,7453,1313,6024,1074,647
Fixed Assets +1,0289198637857226968239238911,4162,4212,612
CWIP41495536742381271095511,02222095
Investments221122216717322258
Other Assets +1,1191,4961,5611,6841,4981,4231,6111,5451,5171,1631,4641,682
Total Assets2,1902,4662,4802,5062,2972,3582,5622,7453,1313,6024,1074,647

Financials of Star Cement Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +26297300421616483350417358490296765
Cash from Investing Activity +-41-79-89-25-193-136-333-289-255-650-529-843
Cash from Financing Activity +-210-14-218-393-348-201-3-176108622452
Net Cash Flow114-727614614-47114-74-8-27
Free Cash Flow21816211388536256243220-211-546-279278
CFO/OP65%31%80%93%150%135%114%131%91%102%63%93%

Financials of Star Cement Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days799633332924282114192323
Inventory Days174221173356232233212124400255314343
Days Payable1221481012281058789135297166164189
Cash Conversion Cycle13016810516115617115110117107173177
Working Capital Days2034136162109938730-1-141015
ROCE %12%12%14%20%18%17%13%12%17%16%8%17%

Guidance history

How Star Cement Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →0–10%FlatPlannedPlanned—
Q4 FY26 call →10–20%FlatPlannedPlanned—
Q4 FY26 call →10–20%FlatPlannedPlanned—
Q3 FY26 call →10–20%FlatPlannedPlanned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

7out of 100

Momentum score · price trend

7 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−35.5%16%
Last 6 months−28.3%9%
Last 3 months−20.1%18%

The price is 45.6% below its all-time high of ₹298.75 (3 Sept 2025). Stocks more than 20% below their peak have their score halved, so 14 became 7.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Star Cement Ltd: 0.4 × 16 + 0.4 × 9 + 0.2 × 18 = 14, halved to 7 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 28 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Star Cement Ltd's management said in earlier quarters

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