Niraj Cement Structurals Limited (NIRAJ) AI Stock Analysis

• Market Cap: ₹1.88B
• Dividend Yield: N/A
• Average Volume (3M): 22.56K
• Price to Earnings (P/E): 10.3
• Beta (1Y): 1.24
• Revenue Growth: 14.34%
• EPS Growth: 20.61%
• Country: IN
• Employees: 19
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Engineering & Construction
• EPS (TTM): 0.17
• Shares Outstanding: 59,694,340
• 10 Day Avg. Volume: 34,527
• 30 Day Avg. Volume: 22,562
• PEG Ratio: 0.40
• Price to Book (P/B): 1.13
• Price to Sales (P/S): 0.54
• P/FCF Ratio: -3.58
• 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: ₹33.00
• Price Target Upside: 4.60% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 60 Neutral
• Price Target: ₹33.00 ▲(4.60% Upside)

The stock's overall score is driven by solid financial performance and attractive valuation, but is weighed down by negative technical indicators. The company's revenue growth and improved margins are positive, yet liquidity concerns and bearish market momentum present significant risks.

Niraj Cement Structurals Limited Business Overview & Revenue Model

Company Description

Niraj Cement Structurals Limited executes various infrastructure projects in India. The company constructs highways, expressways, turnkey project roads, bridges, tunnels, etc.; and water supply and drainage, irrigation, land storm water drainage, and other infrastructural works. It also rents construction equipment, including ready mix concrete units, crushing units, and concrete slipform pavers, as well as motor graders, excavators, JCBs, rollers, hotmix plants, BT pavers, and allied construction equipment. The company was founded in 1972 and is based in Mumbai, India.

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 shows strong revenue growth and improved profit margins, indicating expanding market opportunities. However, operational efficiencies need enhancement, and cash flow challenges pose a risk to liquidity. The balance sheet reflects a stable equity position and reduced leverage.

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	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.19B	5.07B	4.71B	6.06B	3.56B	1.75B
Gross Profit	308.16M	345.28M	276.67M	190.56M	90.97M	44.59M
EBITDA	224.99M	226.45M	149.50M	86.75M	47.64M	36.21M
Net Income	155.49M	150.82M	97.23M	43.27M	24.29M	13.23M
Balance Sheet
Total Assets	0.00	3.84B	2.25B	3.15B	3.13B	2.77B
Cash, Cash Equivalents and Short-Term Investments	413.29M	413.29M	229.44M	228.12M	371.90M	56.60M
Total Debt	0.00	22.19M	7.24M	259.27M	134.61M	303.17M
Total Liabilities	-2.42B	1.42B	725.36M	1.39B	1.33B	1.00B
Stockholders Equity	2.42B	2.42B	1.52B	1.77B	1.79B	1.77B
Cash Flow
Free Cash Flow	0.00	-765.33M	230.13M	-298.63M	384.75M	-52.27M
Operating Cash Flow	0.00	-720.92M	269.13M	-298.50M	385.19M	-51.82M
Investing Cash Flow	0.00	-207.72M	-48.56M	143.54M	-110.39M	-91.89M
Financing Cash Flow	0.00	1.05B	-257.14M	50.12M	-169.91M	93.38M

Niraj Cement Structurals Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 31.55
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

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 31.55 is below the 20-day moving average (MA) of 41.12, below the 50-day MA of 45.18, and below the 200-day MA of 53.51, indicating a bearish trend. The MACD of -4.49 indicates Positive momentum. The RSI at 25.40 is Positive, neither overbought nor oversold. The STOCH value of 6.73 is Positive, 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	68 Neutral	₹2.43B	24.66	―	―	―	―
BEDMUTHA	64 Neutral	₹4.19B	36.56	―	―	29.52%	-57.94%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
NIRAJ	60 Neutral	₹1.88B	10.30	―	―	14.34%	20.61%
BVCL	57 Neutral	₹1.04B	31.32	―	―	-8.65%	-53.57%
KAKATCEM	54 Neutral	₹1.10B	―	―	2.10%	-41.81%	-1195.95%
SALSTEEL	50 Neutral	₹2.64B	68.82	―	―	4.71%	-3228.92%

Niraj Cement Structurals Limited Corporate Events

Niraj Cement Structurals Limited Releases Q2 2025 Financial Results

Niraj Cement Structurals Limited announced its un-audited standalone and consolidated financial results for the quarter ended June 30, 2025. The results were published in the Financial Express and Mumbai Lakshdeep newspapers. This announcement is part of the company’s compliance with regulatory requirements and provides stakeholders with insights into the company’s financial performance for the specified period.