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Last Updated: April 2, 2026, 3:43 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 540575 | NSE: STARCEMENT

Star Cement Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹81.08Overvalued by 60.64%vs CMP ₹206.00

P/E (22.3) × ROE (6.1%) × BV (₹74.40) × DY (0.97%)

₹101.23Overvalued by 50.86%vs CMP ₹206.00
MoS: -103.5% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹87.8422%Over (-57.4%)
Graham NumberEarnings₹123.5616%Over (-40%)
Earnings PowerEarnings₹34.1513%Over (-83.4%)
DCFCash Flow₹125.3113%Over (-39.2%)
Net Asset ValueAssets₹74.497%Over (-63.8%)
EV/EBITDAEnterprise₹209.669%Fair (+1.8%)
Earnings YieldEarnings₹91.207%Over (-55.7%)
ROCE CapitalReturns₹91.847%Over (-55.4%)
Revenue MultipleRevenue₹78.325%Over (-62%)
Consensus (9 models)₹101.23100%Overvalued
Key Drivers: Wide model spread (₹34–₹210) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 8.3%

*Investments are subject to market risks

Investment Snapshot

66
Star Cement Ltd scores 66/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health66/100 · Strong
ROCE 8.4% AverageROE 6.1% AverageD/E 0.01 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding up 0.45% (6mo) Slight increaseDII holding down 0.69% MF sellingPromoter holding at 57.6% Stable
Earnings Quality50/100 · Moderate
OPM stable around 19% Steady
Quarterly Momentum100/100 · Strong
Revenue (4Q): +21% YoY AcceleratingProfit (4Q): +173% YoY StrongOPM: 23.0% (up 9.0% YoY) Margin expansion
Industry Rank55/100 · Moderate
P/E 22.3 vs industry 274.7 Cheaper than peersROCE 8.4% vs industry 8.9% AverageROE 6.1% vs industry 85.5% Below peers3Y sales CAGR: 12% Moderate

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, 3:43 am

Market Cap 8,319 Cr.
Current Price 206
Intrinsic Value₹101.23
High / Low 309/197
Stock P/E22.3
Book Value 74.4
Dividend Yield0.97 %
ROCE8.39 %
ROE6.05 %
Face Value 1.00
PEG Ratio2.67

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

View Share Price Target for Star Cement Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Star Cement Ltd 8,319 Cr. 206 309/19722.3 74.40.97 %8.39 %6.05 % 1.00
JK Lakshmi Cement Ltd 7,316 Cr. 589 1,021/55015.3 2991.10 %10.5 %8.72 % 5.00
Birla Corporation Ltd 6,871 Cr. 892 1,537/77012.0 9281.12 %7.08 %4.79 % 10.0
Prism Johnson Ltd 6,276 Cr. 125 176/110859 29.00.00 %2.22 %4.00 % 10.0
The India Cements Ltd 11,070 Cr. 357 490/253 3250.00 %5.49 %8.83 % 10.0
Industry Average34,326.20 Cr1,677.64274.74574.270.69%8.92%85.54%7.13

All Competitor Stocks of Star Cement Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 6178297605856519147516427191,052912811880
Expenses 509663631487503734635546615789684621678
Operating Profit 1081661299914918011696104263228190202
OPM % 18%20%17%17%23%20%15%15%14%25%25%23%23%
Other Income 12139648123523-1
Interest 31233467109101112
Depreciation 34353236374273838988859091
Profit before tax 831431046511314139881711359299
Tax % 36%33%10%38%35%38%21%25%-19%28%27%23%25%
Net Profit 5396934174883169123987174
EPS in Rs 1.312.382.311.011.822.170.770.140.223.052.441.781.85

Last Updated: March 3, 2026, 2:34 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 11:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,0281,4301,7151,5281,6151,8311,8431,7202,2222,7052,9113,1633,655
Expenses 7959941,3161,1191,0931,3821,4491,3871,8772,2362,3532,5852,771
Operating Profit 233436399408521449394333345468557579884
OPM % 23%31%23%27%32%25%21%19%16%17%19%18%24%
Other Income 31124529-363352251010
Interest 838783785214971310133242
Depreciation 1572241711181211069390122131147332354
Profit before tax -5126145215353335322199244380424226497
Tax % -28%4%4%6%5%9%11%6%-1%35%30%25%
Net Profit -3121139195336305287187247248295169367
EPS in Rs -1.0028.303.204.647.897.136.924.546.116.137.304.189.12
Dividend Payout % -250%28%-0%-0%13%-0%14%-0%-0%-0%-0%-0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)4133.33%14.88%40.29%72.31%-9.23%-5.90%-34.84%32.09%0.40%18.95%-42.71%
Change in YoY Net Profit Growth (%)0.00%-4118.46%25.41%32.02%-81.53%3.32%-28.94%66.93%-31.68%18.55%-61.66%

Star Cement 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:8%
5 Years:11%
3 Years:13%
TTM:15%
Compounded Profit Growth
10 Years:4%
5 Years:-10%
3 Years:-12%
TTM:2%
Stock Price CAGR
10 Years:%
5 Years:28%
3 Years:46%
1 Year:31%
Return on Equity
10 Years:13%
5 Years:10%
3 Years:9%
Last Year:6%

Last Updated: September 5, 2025, 1:36 pm

Balance Sheet

Last Updated: December 4, 2025, 2:01 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 42424242424241414040404040
Reserves 8018791,0131,1041,4341,6821,8162,0332,1282,3762,6702,8392,968
Borrowings 9648809408014327413181635147403643
Other Liabilities 309388471534597499488470561680745825720
Total Liabilities 2,1162,1902,4662,4802,5062,2972,3582,5622,7453,1313,6024,1074,372
Fixed Assets 1,1431,0289198637857226968239238911,4162,4212,401
CWIP 9941495536742381271095511,022220256
Investments 222112221671732237
Other Assets 8731,1191,4961,5611,6841,4981,4231,6111,5451,5171,1631,4641,678
Total Assets 2,1162,1902,4662,4802,5062,2972,3582,5622,7453,1313,6024,1074,372

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 23326297300421616483350417358490296
Cash from Investing Activity + -114-41-79-89-25-193-136-333-289-255-650-529
Cash from Financing Activity + -132-210-14-218-393-348-201-3-1761086224
Net Cash Flow -14114-727614614-47114-74-8
Free Cash Flow 11621816211388536256243220-211-546-279
CFO/OP 100%65%31%80%93%150%135%114%131%91%102%63%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-731.00-444.00-541.00-393.0089.00375.00381.00315.00329.00433.00410.00176.00

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 447996333329242821141923
Inventory Days 378174221173356232233212124400255314
Days Payable 1761221481012281058789135297166164
Cash Conversion Cycle 24713016810516115617115110117107173
Working Capital Days -42034136162109938730-1-1410
ROCE %4%12%12%14%20%18%17%13%12%17%16%8%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 67.12%66.76%66.55%66.48%66.59%66.49%66.47%57.69%57.67%57.66%57.59%57.62%
FIIs 0.63%0.69%0.77%1.05%1.52%1.61%1.36%1.20%2.02%2.24%2.96%2.47%
DIIs 6.15%6.23%6.08%6.02%6.11%5.03%4.96%4.95%5.17%4.93%4.38%4.48%
Public 26.10%26.33%26.59%26.43%25.77%26.89%27.20%36.17%35.15%35.17%35.07%35.42%
No. of Shareholders 42,37343,86652,00154,13056,63665,41565,62770,80465,09164,01161,66061,167

Shareholding Pattern Chart

No. of Shareholders

Star Cement 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
SBI Flexicap Fund 9,835,227 0.9 210.68N/AN/AN/A
SBI Small Cap Fund 122,014 0.01 2.615,997,1932026-03-23 05:16:51-97.97%
LIC MF Flexi Cap Fund 62,319 0.13 1.33N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 4.187.306.136.044.54
Diluted EPS (Rs.) 4.187.306.136.044.54
Cash EPS (Rs.) 12.3910.939.379.116.72
Book Value[Excl.RevalReserv]/Share (Rs.) 71.2467.0559.7853.6550.29
Book Value[Incl.RevalReserv]/Share (Rs.) 71.2467.0559.7853.6550.29
Revenue From Operations / Share (Rs.) 78.2772.0166.9254.9741.70
PBDIT / Share (Rs.) 14.5814.4212.889.378.75
PBIT / Share (Rs.) 6.3710.799.636.366.57
PBT / Share (Rs.) 5.5810.489.396.034.83
Net Profit / Share (Rs.) 4.187.306.136.114.54
NP After MI And SOA / Share (Rs.) 4.187.306.136.114.54
PBDIT Margin (%) 18.6220.0219.2417.0420.97
PBIT Margin (%) 8.1314.9814.3911.5615.74
PBT Margin (%) 7.1314.5514.0310.9611.58
Net Profit Margin (%) 5.3310.139.1511.1010.88
NP After MI And SOA Margin (%) 5.3410.139.1511.1010.88
Return on Networth / Equity (%) 5.8610.8810.2411.389.02
Return on Capital Employeed (%) 8.0115.4614.9510.9712.19
Return On Assets (%) 4.118.197.908.987.30
Long Term Debt / Equity (X) 0.100.020.000.000.00
Total Debt / Equity (X) 0.130.040.010.000.01
Asset Turnover Ratio (%) 0.820.860.920.970.78
Current Ratio (X) 1.150.981.892.813.59
Quick Ratio (X) 0.650.551.182.322.90
Inventory Turnover Ratio (X) 8.101.312.265.773.85
Interest Coverage Ratio (X) 18.6346.2553.6828.3851.63
Interest Coverage Ratio (Post Tax) (X) 6.3424.4226.5419.5037.02
Enterprise Value (Cr.) 9027.289177.064233.093242.163527.03
EV / Net Operating Revenue (X) 2.853.151.561.462.05
EV / EBITDA (X) 15.3215.758.138.569.78
MarketCap / Net Operating Revenue (X) 2.753.141.671.632.33
Price / BV (X) 3.023.371.871.671.93
Price / Net Operating Revenue (X) 2.753.141.671.632.33
EarningsYield 0.010.030.050.060.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Star Cement Ltd. is a Public Limited Listed company incorporated on 02/11/2001 and has its registered office in the State of Meghalaya, India. Company's Corporate Identification Number(CIN) is L26942ML2001PLC006663 and registration number is 006663. Currently Company is involved in the business activities of Manufacture of clinkers and cement. Company's Total Operating Revenue is Rs. 1992.19 Cr. and Equity Capital is Rs. 40.42 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
CementVillage Lumshnong, Jaintia Hills Dist. Meghalaya 793210Contact not found
Management
NamePosition Held
Mr. Sajjan BhajankaChairman & Managing Director
Mr. Sanjay AgarwalManaging Director
Mr. Prem Kumar BhajankaManaging Director
Mr. Tushar BhajankaDeputy Managing Director
Mr. Pankaj KejriwalExecutive Director
Mr. Brij Bhushan AgarwalDirector
Mr. Keshav BhajankaDirector
Mr. Amit Kiran DebIndependent Director
Mr. Deepak SinghalIndependent Director
Mr. Nirmalya BhattacharyyaIndependent Director
Ms. Ibaridor Katherine WarIndependent Director
Mrs. Plistina DkharIndependent Director
Mr. Vivek ChawlaIndependent Director
Mr. Jagdish Chandra ToshniwalIndependent Director
Mr. Ramit BudhrajaIndependent Director

FAQ

What is the intrinsic value of Star Cement Ltd and is it undervalued?

As of 16 April 2026, Star Cement Ltd's intrinsic value is ₹101.23, which is 50.86% lower than the current market price of ₹206.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (6.05 %), book value (₹74.4), dividend yield (0.97 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Star Cement Ltd?

Star Cement Ltd is trading at ₹206.00 as of 16 April 2026, with a FY2026-2027 high of ₹309 and low of ₹197. The stock is currently near its 52-week low. Market cap stands at ₹8,319 Cr..

How does Star Cement Ltd's P/E ratio compare to its industry?

Star Cement Ltd has a P/E ratio of 22.3, which is below the industry average of 274.74. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Star Cement Ltd financially healthy?

Key indicators for Star Cement Ltd: ROCE of 8.39 % is on the lower side compared to the industry average of 8.92%; ROE of 6.05 % is below ideal levels (industry average: 85.54%). Dividend yield is 0.97 %.

Is Star Cement Ltd profitable and how is the profit trend?

Star Cement Ltd reported a net profit of ₹169 Cr in Mar 2025 on revenue of ₹3,163 Cr. Compared to ₹247 Cr in Mar 2022, the net profit shows a declining trend.

Does Star Cement Ltd pay dividends?

Star Cement Ltd has a dividend yield of 0.97 % at the current price of ₹206.00. 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 Star Cement 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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