Table of Contents

The Ramco Cements Ltd

Updated on July 15, 2019

Stock/Share Code - RAMCOCEM

The Ramco Cements is engaged in manufacture of Cement, Ready Mix Concrete, and Dry Mortal Products. The Company caters mainly to the domestic markets. The Company is also engaged in sale of surplus electricity generated from its windmills and thermal power plants after meeting its captive requirements.

Below is the details of RAMCOCEM The Ramco Cements Ltd

Market Cap	₹19,225 Cr.
Current Price	₹762.35 as on 19 Jul 19
52 Week High / Low Price	₹845.1 / ₹546.3
Face Value	₹1
Stock P/E	38.00
Book Value	₹189.33
Dividend Yield	0.37 %
ROCE	16.39 %
ROE	14.30 %
Sales Growth (3yrs)	6.53 %
Sector	Cement
Industry	Cement - South India
Listed on	BSE AND NSE
Company Website	Company Website

Pros:

Cons: The company has delivered a poor growth of 2.84% over past five years. Company might be capitalizing the interest cost

The Ramco Cements Ltd Price Chart

The Ramco Cements Ltd Peer Comparison in Cement

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Qtr Sales Var %	Sales Qtr Rs.Cr.	ROCE %
1.	Dalmia Bhara.	₹1,004.1	60.17	₹23,045.04 Cr.	0.00	₹228 Cr.	330.19	37.36	2842.00	5.50
2.	The Ramco Cement		38.00	₹19,225.42 Cr.	0.37	₹165.37 Cr.	52.29	22.13	1532.42	16.39
3.	India Cements	₹98.65	47.13	₹3,272.51 Cr.	0.75	₹43.85 Cr.	24.33	11.89	1563.99	5.63
4.	Orient Cement	₹104.35	50.33	₹2,393.23 Cr.	0.64	₹61.99 Cr.	383.92	21.15	750.81	8.58
5.	Sagar Cements	₹637.05	103.01	₹1,399.85 Cr.	0.58	₹18.75 Cr.	295.57	24.06	365.84	8.37
6.	K C P	₹77.8	29.93	₹1,182.85 Cr.	1.09	₹11.9 Cr.	-6.52	15.24	306.59	17.81
7.	NCL Inds.	₹123.65	23.22	₹692.06 Cr.	1.63	₹6.51 Cr.	-52.55	8.29	241.18	15.90

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The Ramco Cements Ltd Fundamentals

Quarterly Results

Quarterly reports are issued by companies every three months. Most companies have a financial year-end of Mar. 31 and quarters that end on June 30, Sept. 30, Dec. 31 and March 31.

Standalone Figures in Rs. Crores

	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019
Sales	964	1,016	943	1,026	1,029	1,066	1,056	1,255	1,220	1,184	1,210	1,532
YOY Sales Growth %	1.79%	14.49%	15.23%	6.43%	6.68%	5%	11.99%	22.27%	18.57%	10.98%	14.58%	22.13%
Expenses	668	663	668	755	738	765	821	983	970	936	996	1,207
Material Cost %	17.36%	15.56%	17.48%	17.54%	15.46%	14.93%	19.04%	18.43%	14.82%	15.67%	16.54%	18.3%
Employee Cost %	7.33%	6.89%	7.4%	6.55%	7.28%	7.44%	7.19%	5.88%	6.72%	7.09%	6.71%	5.37%
Operating Profit	297	353	275	271	290	302	235	272	250	247	214	325
OPM %	31%	35%	29%	26%	28%	28%	22%	22%	21%	21%	18%	21%
Other Income	10	6	21	6	5	7	5	19	5	6	7	11
Interest	29	28	26	20	15	17	16	10	11	13	13	13
Depreciation	66	67	66	85	72	72	73	75	73	73	76	77
Profit before tax	211	264	204	172	208	220	151	205	170	167	131	247
Tax %	26%	22%	26%	22%	25%	23%	19%	47%	27%	32%	23%	33%
Net Profit	156	207	152	134	156	169	123	109	125	114	101	165
	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes

Profit & Loss

The profit and loss (P&L) statement is a financial statement that summarizes the revenues, costs and expenses incurred during a specified period, usually a fiscal quarter or year. The P&L statement is synonymous with the income statement. These records provide information about a company's ability or inability to generate profit" by increasing revenue, reducing costs or both. Some refer to the P&L statement as a statement of profit and loss, income statement, statement of operations, statement of financial results or income, earnings statement or expense statement.

Standalone Figures in Rs. Crores

	Mar 2007	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	TTM
Sales	1,572	2,008	2,454	2,795	2,613	3,254	3,831	3,684	3,645	3,573	3,950	4,406	5,146
Sales Growth %	57.25%	27.74%	22.19%	13.9%	-6.49%	24.5%	17.74%	-3.84%	-1.05%	-1.97%	10.53%	11.57%	%
Expenses	1,015	1,255	1,674	1,937	1,984	2,314	2,823	3,120	2,931	2,501	2,754	3,305	4,110
Material Cost %	13.58%	12.29%	12.2%	14.26%	14.95%	13.43%	13.83%	18.72%	18.67%	16.48%	16.97%	17.03%	%
Manufacturing Cost %	23.24%	23.92%	28.62%	25.65%	33.31%	29.66%	28.47%	31.41%	27.58%	21.85%	20.43%	23.71%	%
Employee Cost %	3.6%	3.91%	4.48%	4.91%	5.89%	5.26%	5.11%	6.02%	6.27%	7.24%	7.03%	6.9%	%
Other Cost %	24.22%	22.5%	22.92%	24.65%	21.88%	22.87%	26.28%	28.54%	27.88%	24.42%	25.31%	27.36%	%
Operating Profit	557	753	780	858	629	939	1,008	564	714	1,072	1,195	1,101	1,037
OPM %	35%	38%	32%	31%	24%	29%	26%	15%	20%	30%	30%	25%	20%
Other Income	8	9	14	20	29	31	40	86	87	88	44	36	28
Interest	24	52	111	152	140	159	179	189	195	182	104	60	51
Depreciation	72	93	138	196	221	254	281	306	250	305	284	292	299
Profit before tax	469	617	545	530	297	557	588	154	356	673	850	785	716
Tax %	34%	34%	33%	33%	29%	31%	31%	11%	32%	19%	24%	29%
Net Profit	308	408	364	354	211	385	404	138	242	542	649	556	506
EPS in Rs	12.56	16.81	14.93	14.52	8.66	15.78	16.47	5.62	9.87	21.85	27.27	23.58
Dividend Payout %	10%	12%	13%	13%	14%	15%	18%	17%	15%	13%	11%	13%

Compounded Sales Growth

10 Years:: 8.18%
5 Years:: 2.84%
3 Years:: 6.53%
TTM:: 16.79%

Compounded Profit Growth

10 Years:: 3.16%
5 Years:: 6.58%
3 Years:: 31.95%
TTM:: -8.96%

Return on Equity

10 Years:: 16.34%
5 Years:: 13.93%
3 Years:: 17.17%
Last Year:: 14.30%

Balance Sheet

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure. It is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. It is used alongside other important financial statements such as the income statement and statement of cash flows in conducting fundamental analysis or calculating financial ratios.

Standalone Figures in Rs. Crores

	Mar 2007	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
Share Capital	12	12	24	24	24	24	24	24	24	24	24	24	24
Equity Capital	12.08	11.9	23.8	23.8	23.8	23.8	23.8	23.8	23.81	23.81	23.81	23.56	23.56
Reserves	654	942	1,236	1,534	1,711	2,027	2,347	2,458	2,621	3,070	3,718	4,019	4,437
Borrowings	677	1,636	2,463	2,567	2,791	2,710	2,667	2,910	2,712	2,124	1,425	1,113	1,415
Other Liabilities	624	769	936	1,138	1,186	1,305	1,442	1,485	1,655	1,825	1,996	2,081	2,233
Trade Payables	71.18	108.56	111.13	164.82	139.52	93.93	143.08	187.66	265.96	232.07	280.13	306.3	257.21
Total Liabilities	1,968	3,359	4,660	5,263	5,712	6,066	6,479	6,877	7,012	7,042	7,162	7,236	8,108
Fixed Assets	1,081	1,906	3,000	3,693	3,793	4,115	4,594	4,641	4,876	4,901	5,183	5,298	5,398
Gross Block	1798.98	2714.45	3917.58	4811.13	5110.48	5670.44	6432.93	6679.49	7200.52	7529.28	8057.35	8428.06
Accumulated Depreciation	718.45	808.31	917.9	1118.62	1317.53	1555.29	1839.38	2038.01	2323.73	2626.85	2873.07	3128.68
CWIP	178	576	635	318	546	528	157	354	263	147	120	175	831
Investments	89	89	89	89	267	266	266	283	356	372	148	159	175
Other Assets	620	788	936	1,164	1,106	1,156	1,463	1,599	1,518	1,623	1,710	1,604	1,705
Inventories	128.24	242.7	328.89	412.54	392.28	491.09	594.75	685.53	520.58	549.02	575.43	559.94	559.67
Trade receivables	65.34	61.61	89.8	155.51	175.13	207.94	301.43	303.96	380.22	472.12	554.9	442.31	489.97
Cash Equivalents	56.57	22.94	38.61	35.6	40.01	47.49	53.96	44.61	61.85	90.77	118.08	119.41	92.76
Loans n Advances	368.16	457.36	462.53	538.66	324.69	296.67	296.72	224.13	163.68	368.72	323.19	322.07	79.04
Total Assets	1,968	3,359	4,660	5,263	5,712	6,066	6,479	6,877	7,012	7,042	7,162	7,236	8,108

Cash Flows

Cash flow is the net amount of cash and cash-equivalents being transferred into and out of a business. At the most fundamental level, a company’s ability to create value for shareholders is determined by its ability to generate positive cash flows, or more specifically, maximize long-term free cash flow.

Standalone Figures in Rs. Crores

	Mar 2007	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018
Cash from Operating Activity	308	476	639	681	619	864	701	479	956	1,085	1,105	1,113
Profit from operations	560.94	756.37	788.23	876.11	648.06	964.81	1043.96	624.99	812.22	1140.33	1210.06	1127.83
Working Capital Changes	-116.8	-201.32	-87.12	-105.45	44.41	12.43	-227.74	-106.38	212.55	93.03	84.75	156.35
Taxes paid	-135.51	-79.3	-61.77	-89.31	-73.31	-113.45	-114.82	-39.82	-68.68	-148.27	-189.43	-171.29
Cash from Investing Activity	-326	-1,311	-1,284	-567	-686	-552	-378	-541	-482	-263	-276	-483
Fixed Assets Purchased	-330.49	-1317.94	-1291.65	-587.05	-836.82	-569.22	-401.94	-588.8	-442.18	-278	-306.66	-495.77
Fixed Assets Sold	0.94	2.01	0.82	15.75	139.08	3.77	2.65	32	3.63	0.95	2.35	1.57
Investments purchased	-0.04	-0.02	-0.01	-0.02	-0.02	-0.02	0	0	0	0	0	0
Investments sold	0	0	0	0	0	0	0	0.5	0.7	0	0	0
Cash from Financing Activity	24	801	661	-118	71	-329	-289	53	-457	-943	-659	-787
Proceeds from Borrowings	212.24	1008.4	1276.56	600.42	1468.29	1379.74	4022.74	974.07	676.5	974.98	157.53	95.74
Repayment of Borrowings	-137.35	-50.09	-448.76	-497.37	-1243.63	-1460.5	-4077.51	-715.29	-874.85	-1626.67	-707.1	-563.93
Interest Paid	-22.83	-51.7	-110	-150.88	-139.28	-158.45	-164.54	-178.06	-231.04	-162.05	-109.02	-65.76
Dividends Paid	-27.58	-42.45	-55.76	-69.7	-13.89	-90.01	-69.24	-27.88	-27.88	-129.07	0	-85.15
Net Cash Flow	7	-34	16	-3	4	-18	34	-10	17	-121	171	-157

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Ratios

	Mar 2007	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018
ROCE %	42%	34%	21%	17%	10%	15%	16%	6%	10%	16%	18%	16%
Debtor Days	15	11	13	20	24	23	29	30	38	48	51	37
Inventory Turnover	13.72	10.83	8.59	7.54	6.49	7.37	7.06	5.75	6.04	6.68	7.02	7.76

Announcements & News

Recent Announcements

Announcement under Regulation 30 (LODR)-Press Release / Media Release | May 30, 2019
Reg.24(A)-Annual Secretarial Compliance | May 29, 2019
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation | May 25, 2019
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation | May 25, 2019
Fixes Record Date for Dividend | May 23, 2019

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