Niraj Cement Structurals Limited (NIRAJ) AI Stock Analysis

• Market Cap: ₹2.92B
• Dividend Yield: N/A
• Average Volume (3M): 2.91K
• Price to Earnings (P/E): 16.5
• Beta (1Y): 1.51
• Revenue Growth: 7.80%
• EPS Growth: 25.29%
• Country: IN
• Employees: 19
• Sector: Basic Materials
• Sector Strength: 60
• Industry: Engineering & Construction
• EPS (TTM): 1.35
• Shares Outstanding: 59,694,340
• 10 Day Avg. Volume: 2,340
• 30 Day Avg. Volume: 2,910
• 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: ₹56.00
• Price Target Upside: 13.94% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 62 Neutral
• Price Target: ₹56.00 ▲(13.94% Upside)

The overall stock score reflects strong financial performance driven by revenue growth and improved profit margins. However, technical indicators suggest a bearish trend, and cash flow challenges highlight potential liquidity risks. The valuation is fair, but the lack of a dividend yield reduces appeal to some investors.

Niraj Cement Structurals Limited Business Overview & Revenue Model

Company Description

Niraj Cement Structurals Limited (NIRAJ) is an India-based company engaged in the construction and engineering sector. The company primarily focuses on infrastructure development projects, including roads, bridges, highways, and other civil engineering works. With a commitment to quality and innovation, NIRAJ leverages its extensive industry experience to execute projects that enhance urban and rural connectivity and contribute to national development.

How the Company Makes Money

Niraj Cement Structurals Limited generates revenue primarily through contracts awarded for infrastructure development projects. The company bids on both government and private sector projects, and its income is derived from successful contract executions. Key revenue streams include payments for construction services, project management fees, and consultancy services related to civil engineering projects. NIRAJ also benefits from partnerships with governmental agencies and private firms, which can lead to long-term contracts and recurring revenue opportunities. Additionally, the company's reputation for timely delivery and quality construction enhances its ability to secure new contracts and maintain a steady flow of projects.

Niraj Cement Structurals Limited Financial Statement Overview

Summary

Niraj Cement Structurals Limited has exhibited strong revenue growth and improved profit margins. However, operational efficiency remains an area for improvement. The balance sheet shows reduced leverage and a stable equity position, but cash flow challenges pose a potential risk to liquidity.

Income Statement

The company has shown a solid revenue growth trend with an increase from 1.71 billion in 2021 to 5.13 billion in 2025. The gross profit margin is improving but still low at 6.72% in 2025, compared to 0.43% in 2021. The net profit margin has increased to 2.94% in 2025 from 0.77% in 2021, indicating better cost control. However, the EBIT and EBITDA margins remain relatively modest, suggesting room for operational efficiency improvements.

Balance Sheet

The company's balance sheet reflects moderate leverage with a debt-to-equity ratio of 0.01 in 2025, showing a significant reduction from 0.17 in 2021. The equity ratio is strong at 62.98%, indicating a stable equity base. Return on equity (ROE) has improved to 6.23% in 2025 from 0.75% in 2021, reflecting better profitability. However, potential risks include fluctuating total liabilities and the need for further strengthening of equity.

Cash Flow

The cash flow situation presents challenges, with a negative operating cash flow of -720.9 million in 2025 compared to 269.1 million in 2024. Free cash flow has also deteriorated to -765.3 million in 2025 from 230.1 million in 2024, indicating potential liquidity issues. Despite these challenges, the company has managed to secure financing, as seen from the positive financing cash flow, which could support future operations.

Breakdown	Mar 2025	Mar 2023	Mar 2024	Mar 2022	Mar 2020
Income Statement
Total Revenue	5.13B	6.06B	4.71B	3.45B	1.19B
Gross Profit	345.28M	190.56M	276.67M	-9.91M	27.90M
EBITDA	226.45M	86.75M	149.50M	47.64M	35.79M
Net Income	150.82M	43.27M	97.23M	24.29M	15.75M
Balance Sheet
Total Assets	3.84B	3.15B	2.25B	3.13B	2.30B
Cash, Cash Equivalents and Short-Term Investments	413.29M	228.12M	229.44M	155.26M	101.65M
Total Debt	22.19M	261.80M	7.24M	134.61M	193.51M
Total Liabilities	1.42B	1.39B	725.36M	1.33B	545.29M
Stockholders Equity	2.42B	1.77B	1.52B	1.79B	1.75B
Cash Flow
Free Cash Flow	-765.33M	-298.63M	230.13M	384.75M	-180.54M
Operating Cash Flow	-720.92M	-298.50M	269.13M	385.19M	-180.09M
Investing Cash Flow	-207.72M	143.54M	-48.56M	-110.39M	87.32M
Financing Cash Flow	1.05B	50.12M	-257.14M	-169.91M	184.74M

Niraj Cement Structurals Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 49.15
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NIRAJ, the sentiment is Negative. The current price of 49.15 is below the 20-day moving average (MA) of 51.08, below the 50-day MA of 53.37, and below the 200-day MA of 57.58, indicating a bearish trend. The MACD of -1.01 indicates Negative momentum. The RSI at 41.24 is Neutral, neither overbought nor oversold. The STOCH value of 38.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:NIRAJ.

Niraj Cement Structurals Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CENTEXT	72 Outperform	₹1.76B	17.88		―	―	―
BVCL	69 Neutral	₹901.03M	19.75		―	-11.14%	-28.89%
NIRAJ	62 Neutral	₹2.92B	16.49		―	7.80%	25.29%
BEDMUTHA	61 Neutral	₹4.53B	39.45		―	29.23%	18.49%
KAKATCEM	55 Neutral	₹1.19B	―		1.97%	-42.79%	-889.67%
SALSTEEL	45 Neutral	₹1.33B	68.82		―	-5.98%	-1493.90%
Sector *	44 Neutral	C$923.76M	-8.68	-0.23%	2.69%	24.53%	-41.45%