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Last Updated: April 2, 2026, 3:34 am
Author: Getaka|Social: XLinkedIn

Ramco Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹148.26Overvalued by 39.98%vs CMP ₹247.00

P/E (8.4) × ROE (4.4%) × BV (₹501.00) × DY (0.41%)

₹281.25Undervalued by 13.87%vs CMP ₹247.00
MoS: +12.2% (Thin)Confidence: 43/100 (Low)Models: 4 Under, 2 Fair, 3 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹143.1123%Over (-42.1%)
Graham NumberEarnings₹574.6116%Under (+132.6%)
Earnings PowerEarnings₹105.2411%Over (-57.4%)
DCFCash Flow₹278.2214%Under (+12.6%)
Net Asset ValueAssets₹501.267%Under (+102.9%)
EV/EBITDAEnterprise₹227.659%Fair (-7.8%)
Earnings YieldEarnings₹292.907%Under (+18.6%)
ROCE CapitalReturns₹225.467%Fair (-8.7%)
Revenue MultipleRevenue₹191.135%Over (-22.6%)
Consensus (9 models)₹281.25100%Undervalued
Key Drivers: ROE 4.4% is below cost of equity. | Wide model spread (₹105–₹575) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -3.5%

*Investments are subject to market risks

Investment Snapshot

57
Ramco Industries Ltd scores 57/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health58/100 · Moderate
ROCE 3.6% WeakROE 4.4% WeakD/E 0.04 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding up 0.01% (6mo) Slight increaseDII holding down 0.94% MF sellingPromoter holding at 54.8% Stable
Earnings Quality50/100 · Moderate
OPM stable around 11% Steady
Quarterly Momentum80/100 · Strong
Revenue (4Q): +6% YoY GrowingProfit (4Q): +35% YoY Strong
Industry Rank40/100 · Moderate
P/E 8.4 vs industry 13.2 Cheaper than peersROCE 3.6% vs industry 7.5% Below peersROE 4.4% vs industry 12.6% Below peers3Y sales CAGR: 4% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:34 am

Market Cap 2,144 Cr.
Current Price 247
Intrinsic Value₹281.25
High / Low 398/215
Stock P/E8.43
Book Value 501
Dividend Yield0.41 %
ROCE3.61 %
ROE4.37 %
Face Value 1.00
PEG Ratio-2.43

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Ramco Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Ramco Industries Ltd 2,144 Cr. 247 398/2158.43 5010.41 %3.61 %4.37 % 1.00
Indian Hume Pipe Company Ltd 1,618 Cr. 307 490/28015.4 2660.59 %11.9 %9.17 % 2.00
GPT Infraprojects Ltd 1,307 Cr. 103 150/96.014.6 43.42.90 %21.9 %19.6 % 10.0
Sanghi Industries Ltd 1,296 Cr. 50.2 71.8/47.0 16.30.00 %3.91 %46.1 % 10.0
BIGBLOC Construction Ltd 651 Cr. 45.9 80.6/38.0 9.250.00 %6.63 %8.02 % 2.00
Industry Average1,141.43 Cr160.3113.16184.510.80%7.47%12.63%5.29

All Competitor Stocks of Ramco Industries Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 304350487316334365543353344419527365389
Expenses 294316433287300325486312307375459313342
Operating Profit 11345429344057413744685247
OPM % 3%10%11%9%10%11%10%12%11%10%13%14%12%
Other Income 7743343346343
Interest 7766764345545
Depreciation 89999109999999
Profit before tax 2254318202847332735574336
Tax % 98%-73%23%56%36%30%23%60%43%19%20%53%40%
Net Profit 15840-42644391789366641112
EPS in Rs 0.106.734.56-0.483.045.054.541.9410.244.117.564.7112.91

Last Updated: March 3, 2026, 3:10 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 1:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 7858638658819321,0369741,2091,4601,4581,5011,6591,700
Expenses 7227837857648149098711,0141,2341,3051,3451,4791,489
Operating Profit 638080117118128103195226152157179211
OPM % 8%9%9%13%13%12%11%16%15%10%10%11%12%
Other Income 1121432244244622824141516
Interest 3638403422151510921251719
Depreciation 49252526282931333334373637
Profit before tax -11395779112107103175193122109142172
Tax % -71%7%-0%30%30%30%33%34%34%12%33%34%
Net Profit -390192205176172170279303124106181254
EPS in Rs -0.3610.3922.2123.6320.3119.8919.5632.1634.9514.2812.1820.8429.29
Dividend Payout % -70%3%2%2%2%3%3%3%3%7%6%5%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)3100.00%113.33%6.77%-14.15%-2.27%-1.16%64.12%8.60%-59.08%-14.52%70.75%
Change in YoY Net Profit Growth (%)0.00%-2986.67%-106.56%-20.92%11.87%1.11%65.28%-55.52%-67.68%44.56%85.27%

Ramco Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:7%
5 Years:11%
3 Years:4%
TTM:5%
Compounded Profit Growth
10 Years:8%
5 Years:2%
3 Years:-16%
TTM:96%
Stock Price CAGR
10 Years:11%
5 Years:11%
3 Years:15%
1 Year:25%
Return on Equity
10 Years:6%
5 Years:5%
3 Years:3%
Last Year:4%

Last Updated: September 5, 2025, 12:55 pm

Balance Sheet

Last Updated: December 4, 2025, 1:52 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 9999999999999
Reserves 5136022,5142,7072,8773,0443,2013,4753,7503,8754,0524,2244,342
Borrowings 408413363336213187238152224308242256174
Other Liabilities 117140173211217224266332312273254294282
Total Liabilities 1,0471,1643,0593,2633,3153,4643,7133,9684,2944,4654,5564,7834,806
Fixed Assets 411407407424424443467472523563565559549
CWIP 12102211105213619126513
Investments 1982612,1292,2702,3662,4772,6022,8173,0533,0583,1723,3403,388
Other Assets 427487501558515539624643699832813879856
Total Assets 1,0471,1643,0593,2633,3153,4643,7133,9684,2944,4654,5564,7834,806

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 123897947126883619088-43135132
Cash from Investing Activity + -50-156-913-33-63-73-138-27-21-107
Cash from Financing Activity + -55-77-57-48-150-3627-1046354-100-11
Net Cash Flow 18-328-9-122001413-171414
Free Cash Flow 5369405812745-3013621-109102104
CFO/OP 202%113%95%27%101%62%45%103%45%-24%92%81%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-345.00-333.00-283.00-219.00-95.00-59.00-135.0043.002.00-156.00-85.00-77.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 293030303533312823151722
Inventory Days 171195202256207194264217203273262232
Days Payable 222850463633504826111317
Cash Conversion Cycle 178198183239206194246197200277267237
Working Capital Days 291413114934364333627078
ROCE %3%7%4%3%4%4%3%5%5%3%3%4%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 53.88%53.88%53.88%53.88%54.81%54.81%54.81%54.81%54.81%54.81%54.79%54.79%
FIIs 1.16%0.73%0.71%0.90%0.85%0.98%0.96%1.42%0.81%1.12%1.26%0.82%
DIIs 3.50%3.50%4.24%4.18%4.18%4.18%4.18%4.18%4.19%3.85%3.51%3.25%
Public 41.45%41.89%41.16%41.04%40.16%40.03%40.04%39.59%40.18%40.20%40.44%41.16%
No. of Shareholders 30,35531,22232,80934,25734,27131,88732,92532,18831,58030,39830,45930,296

Shareholding Pattern Chart

No. of Shareholders

Ramco Industries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Tata Small Cap Fund 2,281,581 0.67 72.122,281,5812025-04-22 17:25:220%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 20.8912.6614.6536.2733.38
Diluted EPS (Rs.) 20.8912.6614.6536.2733.38
Cash EPS (Rs.) 14.9312.6716.1318.3717.14
Book Value[Excl.RevalReserv]/Share (Rs.) 487.59467.80447.42433.73402.01
Book Value[Incl.RevalReserv]/Share (Rs.) 487.59467.80447.42433.73402.01
Revenue From Operations / Share (Rs.) 191.96172.95167.90168.14139.55
PBDIT / Share (Rs.) 22.4319.6419.9826.9925.07
PBIT / Share (Rs.) 18.2915.3816.0823.2221.31
PBT / Share (Rs.) 16.3312.5014.0222.2220.20
Net Profit / Share (Rs.) 10.798.4112.2314.6013.38
NP After MI And SOA / Share (Rs.) 20.8412.1814.1134.9532.16
PBDIT Margin (%) 11.6811.3511.9016.0517.96
PBIT Margin (%) 9.528.899.5713.8015.26
PBT Margin (%) 8.507.228.3413.2114.47
Net Profit Margin (%) 5.614.867.288.689.58
NP After MI And SOA Margin (%) 10.857.048.4020.7823.04
Return on Networth / Equity (%) 4.272.603.158.058.00
Return on Capital Employeed (%) 3.633.233.515.235.19
Return On Assets (%) 3.782.312.747.006.96
Long Term Debt / Equity (X) 0.010.000.010.000.01
Total Debt / Equity (X) 0.060.050.070.050.04
Asset Turnover Ratio (%) 0.350.330.430.420.39
Current Ratio (X) 2.101.851.651.461.49
Quick Ratio (X) 0.630.470.420.590.65
Inventory Turnover Ratio (X) 2.741.401.481.641.39
Dividend Payout Ratio (NP) (%) 3.598.217.070.003.10
Dividend Payout Ratio (CP) (%) 3.006.085.540.002.78
Earning Retention Ratio (%) 96.4191.7992.930.0096.90
Cash Earning Retention Ratio (%) 97.0093.9294.460.0097.22
Interest Coverage Ratio (X) 11.486.828.2727.0622.71
Interest Coverage Ratio (Post Tax) (X) 6.523.925.9215.6413.12
Enterprise Value (Cr.) 2120.951898.551311.371963.192289.22
EV / Net Operating Revenue (X) 1.271.260.891.351.89
EV / EBITDA (X) 10.8911.137.568.3910.54
MarketCap / Net Operating Revenue (X) 1.181.160.731.261.84
Retention Ratios (%) 96.4091.7892.920.0096.89
Price / BV (X) 0.460.420.270.480.63
Price / Net Operating Revenue (X) 1.181.160.731.261.84
EarningsYield 0.090.060.110.160.12

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Ramco Industries Ltd. is a Public Limited Listed company incorporated on 27/01/1965 and has its registered office in the State of Tamil Nadu, India. Company's Corporate Identification Number(CIN) is L26943TN1965PLC005297 and registration number is 005297. Currently Company is involved in the business activities of Manufacture of insulation boards of vegetable fibre, straw or wood waste, agglomerated with cement & other mineral binders.. Company's Total Operating Revenue is Rs. 1388.60 Cr. and Equity Capital is Rs. 8.68 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Cement Products47, P.S.K. Nagar, Rajapalayam Tamil Nadu 626108Contact not found
Management
NamePosition Held
Mr. P R Venketrama RajaChairman
Mr. P V Abinav Ramasubramaniam RajaManaging Director
Mr. S S Ramachandra RajaDirector
Mr. N K Shrikantan RajaDirector
Mr. Ajay Bhaskar BaligaDirector
Mr. Hariharan ThiagarajanDirector
Justice(Retd) P P S Janarthana RajaDirector
Ms. Soundara KumarDirector

FAQ

What is the intrinsic value of Ramco Industries Ltd and is it undervalued?

As of 14 April 2026, Ramco Industries Ltd's intrinsic value is ₹281.25, which is 13.87% higher than the current market price of ₹247.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (4.37 %), book value (₹501), dividend yield (0.41 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Ramco Industries Ltd?

Ramco Industries Ltd is trading at ₹247.00 as of 14 April 2026, with a FY2026-2027 high of ₹398 and low of ₹215. The stock is currently near its 52-week low. Market cap stands at ₹2,144 Cr..

How does Ramco Industries Ltd's P/E ratio compare to its industry?

Ramco Industries Ltd has a P/E ratio of 8.43, which is below the industry average of 13.16. This is broadly in line with or below the industry average.

Is Ramco Industries Ltd financially healthy?

Key indicators for Ramco Industries Ltd: ROCE of 3.61 % is on the lower side compared to the industry average of 7.47%; ROE of 4.37 % is below ideal levels (industry average: 12.63%). Dividend yield is 0.41 %.

Is Ramco Industries Ltd profitable and how is the profit trend?

Ramco Industries Ltd reported a net profit of ₹181 Cr in Mar 2025 on revenue of ₹1,659 Cr. Compared to ₹303 Cr in Mar 2022, the net profit shows a declining trend.

Does Ramco Industries Ltd pay dividends?

Ramco Industries Ltd has a dividend yield of 0.41 % at the current price of ₹247.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Ramco Industries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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