Anjani Portland Cement Limited (APCL) AI Stock Analysis

• Market Cap: ₹3.34B
• Dividend Yield: N/A
• Average Volume (3M): 1.14K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.12
• Revenue Growth: -3.03%
• EPS Growth: 27.30%
• Country: IN
• Employees: 238
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Construction Materials
• EPS (TTM): -6.66
• Shares Outstanding: 29,374,763
• 10 Day Avg. Volume: 1,837
• 30 Day Avg. Volume: 1,140
• PEG Ratio: -0.04
• Price to Book (P/B): 1.49
• Price to Sales (P/S): 0.74
• P/FCF Ratio: -71.59
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 51 Neutral
• Price Target: ₹114.00 ▼(-10.48% Downside)
• Action: Reiterated Date: 01/06/26
• Date: Action: Reiterated 01/06/26

The score is held down primarily by weak financial performance (declining revenue, losses, high leverage, and negative free cash flow). Technical indicators are supportive and partially offset the fundamentals, while valuation remains unattractive due to loss-making earnings and no dividend data.

Positive Factors

Distribution and Sales Channels

An established mix of dealer/retailer/distributor and institutional channels supports durable market access and sales reach. Over 2–6 months this distribution footprint helps stabilize volumes as regional construction activity fluctuates and aids working-capital management via known counterparties.

End-market Structural Demand

Cement demand is tied to long-lived construction and infrastructure activity, creating a baseline structural market. This end-market exposure supports medium-term demand resilience from public projects and housing, providing an enduring revenue pool as economic cycles ebb and flow.

Equity financing presence

A meaningful equity component in the capital structure offers a buffer against shocks, absorbing losses and supporting creditor confidence. Over the medium term this equity cushion reduces immediate default risk and provides some capacity to pursue refinancing or incremental funding if operational recovery is underway.

Negative Factors

Declining revenue and negative margins

Sustained revenue decline combined with negative gross and net margins signals weakening pricing or falling volumes and erodes operating leverage. Over months this undermines profitability, restricts reinvestment, and forces either margin recovery or structural cost cuts to restore sustainable earnings power.

High leverage

Elevated leverage increases interest burden and reduces financial flexibility, making the company sensitive to cash-flow shortfalls and refinancing conditions. In a 2–6 month horizon this heightens default and covenant risk and constrains the ability to fund operations or capitalize on recovery opportunities.

Weak cash generation

Declining operating cash flow and negative free cash flow limit the firm's ability to fund capex, service debt, and manage working capital without external financing. This structural cash weakness reduces runway, raises financing dependence, and can force prioritization of short-term liquidity over strategic investments.

Anjani Portland Cement Limited Business Overview & Revenue Model

Company Description

Anjani Portland Cement Limited manufactures and trades in cement in India. It operates through Cement and Power Plant segments. The company offers ordinary Portland, Portland Pozollana, rapid hardening Portland, and composite cement. It is also involved in the power generation activities. Anjani Portland Cement Limited was formerly known as Shez Cement Limited and changed its name to Anjani Portland Cement Limited in October 1999. The company was incorporated in 1983 and is based in Hyderabad, India. Anjani Portland Cement Limited is a subsidiary of Chettinad Cement Corporation Private Limited.

How the Company Makes Money

APCL primarily makes money by manufacturing cement and selling it to customers in the construction ecosystem. Its core revenue stream is the sale of cement, typically through a mix of (a) wholesale/distribution networks (dealers, retailers, and regional distributors) and (b) direct or institutional sales to bulk consumers such as contractors, ready-mix concrete producers, and infrastructure/project buyers, depending on market conditions and demand. The company’s earnings are driven by sales volumes (how much cement it sells), realized pricing (cement prices by region/channel), and product mix (the specific cement grades/types it sells). Cost structure and margin drivers that materially affect how much profit APCL retains from these sales include: (1) input and energy costs (e.g., power and fuel used in clinker/cement production), (2) procurement costs for raw materials and additives, (3) logistics and freight (moving inputs to the plant and finished cement to markets), and (4) operating efficiency and plant utilization. APCL’s cash generation typically depends on maintaining healthy capacity utilization, managing working capital (inventory, receivables from channel partners, and payables), and sustaining competitive distribution reach in its served regions. Specific details on non-cement revenue streams (e.g., sale of clinker, power/alternative fuels, or other by-products), named major customer/partner arrangements, or the exact channel mix are not available in the provided prompt; therefore, those data points are null.

Anjani Portland Cement Limited Financial Statement Overview

Summary

Weak fundamentals: revenue has declined, profitability is pressured with negative net margin and negative EBIT/EBITDA margins, leverage is high (debt-to-equity), and liquidity has deteriorated with falling operating cash flow and negative free cash flow.

Income Statement

Anjani Portland Cement Limited has experienced a significant decline in its revenue, with a negative revenue growth rate in recent periods. The gross profit margin and net profit margin have been under pressure, with the latter being negative due to substantial net losses. EBIT and EBITDA margins are also negative, indicating profitability challenges.

Balance Sheet

The company has a high debt-to-equity ratio, reflecting significant leverage. The return on equity has been negative due to net losses. Despite these challenges, the equity ratio indicates a reasonable proportion of equity financing in the asset base. However, the overall financial stability is impacted by high leverage and declining equity.

Cash Flow

Cash flow from operations has decreased significantly, and free cash flow has turned negative, highlighting liquidity constraints. The operating cash flow to net income ratio suggests difficulty in converting earnings into cash. The negative free cash flow growth rate emphasizes cash management issues.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	4.96B	4.28B	6.24B	6.62B	7.98B	4.06B
Gross Profit	3.46B	319.20M	881.30M	5.44B	2.21B	3.28B
EBITDA	147.10M	-179.40M	299.40M	237.80M	1.47B	1.22B
Net Income	-418.70M	-808.20M	-390.70M	-581.40M	414.20M	849.80M
Balance Sheet
Total Assets	9.43B	9.43B	10.01B	10.41B	11.17B	4.66B
Cash, Cash Equivalents and Short-Term Investments	191.70M	3.10M	24.70M	3.10M	119.90M	1.86B
Total Debt	4.63B	4.63B	4.27B	4.36B	5.01B	28.00M
Total Liabilities	7.35B	7.27B	7.04B	7.04B	7.95B	1.20B
Stockholders Equity	2.05B	2.14B	2.94B	3.34B	3.18B	3.46B
Cash Flow
Free Cash Flow	167.20M	-44.40M	376.30M	66.40M	915.10M	1.34B
Operating Cash Flow	189.60M	97.00M	526.40M	207.20M	985.40M	1.38B
Investing Cash Flow	-24.00M	-146.80M	-124.60M	-137.10M	-5.12B	-1.18B
Financing Cash Flow	-166.00M	28.20M	-380.20M	-186.40M	4.10B	-137.00M

Anjani Portland Cement Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 127.35
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:APCL, the sentiment is Negative. The current price of 127.35 is above the 20-day moving average (MA) of 120.24, below the 50-day MA of 130.61, and below the 200-day MA of 133.76, indicating a bearish trend. The MACD of -5.39 indicates Positive momentum. The RSI at 38.41 is Neutral, neither overbought nor oversold. The STOCH value of 13.07 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:APCL.

Anjani Portland Cement Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
NIRAJ	58 Neutral	₹1.55B	10.33	―	―	14.89%	7.47%
BVCL	55 Neutral	₹833.44M	-10.25	―	―	-2.41%	-4.51%
KAKATCEM	53 Neutral	₹767.28M	-5.21	―	2.30%	-32.19%	-1097.08%
APCL	51 Neutral	₹3.34B	-4.95	―	―	-3.03%	27.30%
ASTRON	47 Neutral	₹182.75M	-1.40	―	―	-98.56%	-96.41%
ACL	40 Underperform	₹4.88B	-3.47	―	―	8.17%	-67.80%