India Cements Ltd. (INDIACEM) AI Stock Analysis

• Market Cap: ₹114.15B
• Dividend Yield: N/A
• Average Volume (3M): 38.70K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.08
• Revenue Growth: -10.80%
• EPS Growth: -311.20%
• Country: IN
• Employees: 1,875
• Sector: Basic Materials
• Sector Strength: 60
• Industry: Construction Materials
• EPS (TTM): -4.29
• Shares Outstanding: 309,897,220
• 10 Day Avg. Volume: 26,973
• 30 Day Avg. Volume: 38,704
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: ₹378.00
• Price Target Upside: 2.54% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 54 Neutral
• Price Target: ₹378.00 ▲(2.54% Upside)

The overall stock score of 54 reflects significant financial challenges and valuation concerns, despite strong technical momentum. The primary issues stem from declining revenues and profitability, negatively impacting valuation. Strong technical indicators offer some optimism but are counterbalanced by the company's financial difficulties.

India Cements Ltd. Business Overview & Revenue Model

Company Description

India Cements Ltd. (INDIACEM) is one of the leading cement manufacturing companies in India, headquartered in Chennai, Tamil Nadu. Established in 1946, the company has grown to become a significant player in the cement industry, serving markets across South India and beyond. India Cements operates several integrated plants and grinding units situated in key locations, producing a wide range of cement products including Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), and other specialty cements, catering to a diverse clientele ranging from individual builders to large infrastructure projects.

How the Company Makes Money

India Cements Ltd. primarily generates its revenue through the manufacturing and sale of cement and related products. The company's revenue streams are largely driven by its cement production capacity, the sale of various types of cement, and its distribution network across India. Key revenue streams include sales to both retail customers and institutional clients engaged in infrastructure and real estate development. Additionally, India Cements benefits from economies of scale and a well-established distribution network, which helps in maintaining competitive pricing and maximizing market reach. Strategic partnerships with construction companies and government infrastructure projects also play a significant role in the company's earnings, providing steady demand for its products and enhancing revenue stability.

India Cements Ltd. Financial Statement Overview

Summary

India Cements Ltd. is facing significant financial challenges, with declining revenues, profitability, and cash flows. While the balance sheet shows some stability with an improved debt-to-equity ratio, the persistent losses and cash flow issues indicate a need for strategic realignment and operational improvements.

Income Statement

India Cements Ltd. has been facing declining revenue trends recently, with a significant drop in total revenue from 2023 to 2025, indicating challenges in maintaining sales momentum. The gross profit margin has also deteriorated, suggesting increased cost pressures or pricing challenges. The net profit margin is negative, reflecting ongoing losses, and negative EBIT and EBITDA margins further highlight operational inefficiencies. However, the company had better financial performance in earlier years, indicating potential for recovery if strategic changes are implemented.

Balance Sheet

The company's balance sheet shows a reasonable equity base with a debt-to-equity ratio that has improved over time, suggesting some reduction in leverage. Stockholders' equity as a percentage of total assets has remained stable, indicating a strong equity position. However, the company still carries a significant amount of debt, which could pose risks if financial performance does not improve. The return on equity has been negative in recent years due to losses, highlighting the need for operational improvements.

Cash Flow

The cash flow situation is concerning, with negative operating cash flow in the most recent year and a declining trend in free cash flow. This indicates potential liquidity challenges and the need for better cash management. Despite previous periods of positive free cash flow, the recent decline suggests difficulties in sustaining cash generation. The operating cash flow to net income ratio has also been unfavorable, pointing to inefficiencies in converting profits to cash.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	41.97B	41.49B	49.98B	56.08B	48.58B	45.11B
Gross Profit	16.94B	6.73B	20.47B	44.98B	23.54B	25.18B
EBITDA	2.09B	-3.82B	1.89B	-1.42B	4.99B	8.28B
Net Income	-1.44B	-1.44B	-2.27B	-1.27B	784.63M	2.07B
Balance Sheet
Total Assets	138.30B	138.30B	107.01B	114.67B	120.43B	110.90B
Cash, Cash Equivalents and Short-Term Investments	1.05B	1.05B	852.50M	1.30B	502.53M	419.60M
Total Debt	11.65B	11.65B	26.18B	29.45B	30.91B	30.39B
Total Liabilities	36.34B	36.34B	51.01B	56.40B	60.20B	53.18B
Stockholders Equity	101.94B	101.94B	55.75B	57.76B	59.47B	57.07B
Cash Flow
Free Cash Flow	0.00	-3.19B	2.17B	-771.30M	2.71B	8.81B
Operating Cash Flow	0.00	-2.56B	3.44B	-194.60M	4.39B	10.46B
Investing Cash Flow	0.00	20.15B	2.48B	4.35B	-2.50B	-1.89B
Financing Cash Flow	0.00	-17.38B	-5.72B	-3.97B	-1.83B	-8.60B

India Cements Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 368.65
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDIACEM, the sentiment is Positive. The current price of 368.65 is above the 20-day moving average (MA) of 361.75, above the 50-day MA of 347.07, and above the 200-day MA of 326.85, indicating a bullish trend. The MACD of 5.17 indicates Positive momentum. The RSI at 58.22 is Neutral, neither overbought nor oversold. The STOCH value of 58.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:INDIACEM.

India Cements Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JKLAKSHMI	73 Outperform	₹107.64B	28.39		0.71%	-3.81%	-18.23%
STARCEMENT	69 Neutral	₹117.43B	49.65		―	14.59%	1.56%
BIRLACORPN	62 Neutral	₹99.53B	26.04		0.77%	0.36%	-2.88%
NUVOCO	60 Neutral	₹160.93B	105.77		―	0.27%	12.09%
INDIACEM	54 Neutral	₹114.15B	―		―	-10.80%	-311.20%
SANGHIIND	45 Neutral	₹17.01B	―		―	12.93%	-39.27%
Sector *	44 Neutral	C$923.76M	-8.68	-0.23%	2.69%	24.53%	-41.45%

India Cements Ltd. Corporate Events

India Cements Clarifies Position on CCI Proceedings

India Cements Limited has addressed recent media reports concerning its involvement in ongoing proceedings with the Competition Commission of India (CCI). The company clarified that it has not yet received the full investigation report and is evaluating its legal options. Currently, there are no findings or financial penalties against India Cements, indicating no immediate impact on its operations or financial standing.