This review of Ramco Cements (RAMCOCEM) considers its financial performance and the market's valuation of the stock.
Ramco Cements Revenue Trend
Ramco Cements reported FY2025 revenue of ₹8,560 Cr, down 9.1% year-over-year.
Revenue grew at an 8.9% CAGR over 10 years, rising from ₹3,655 Cr to ₹8,560 Cr. That is reasonable growth, though not exceptional.
With revenue of ₹8,560 Cr, Ramco Cements is a mid-sized name in the Indian cement and cement products sector.
| Year | Revenue | YoY % |
|---|---|---|
| FY2025 | ₹8,560 Cr | -9.1% |
| FY2024 | ₹9,415 Cr | +15.0% |
| FY2023 | ₹8,190 Cr | +35.8% |
| FY2022 | ₹6,032 Cr | +13.3% |
| FY2021 | ₹5,321 Cr | — |
View Ramco Cements's full 10-year revenue trend with CAGR analysis →
Ramco Cements Profitability
Ramco Cements' FY2025 net profit declined 24.4% to ₹270 Cr from ₹356 Cr in FY2024.
Net profit margin came under pressure in FY2025, falling to 3.1% from 3.8%.
Diluted FY2025 EPS was ₹11.53, below ₹15.77 a year earlier.
Is Ramco Cements Undervalued
The P/E Ratio model puts Ramco Cements's fair value at ₹634, or 32.4% downside from the current trading price.
Ramco Cements shares currently trade at ₹938.20.
Craytheon also calculates intrinsic value through the EPS Growth model, with the assumptions and full breakdown available in the detailed analysis.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/E Ratio | ₹634 | 32.4% downside to fair value |
| EPS Growth | Upgrade | Upgrade |
See all valuation models for Ramco Cements with detailed assumptions →
Ramco Cements Shareholding Pattern
The promoter group has retained its 42.6% holding for the last 4 quarters.
FII ownership was 7.5%, down from 8.2% in the year-ago quarter.
Domestic institutions increased their stake to 29.5% from 28.5% over the past year.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Jun 2026 | 42.6% | 7.5% | 29.5% | 17.0% |
| Mar 2026 | 42.6% | 8.0% | 28.9% | 17.1% |
| Dec 2025 | 42.6% | 8.0% | 28.1% | 17.9% |
| Sep 2025 | 42.6% | 8.2% | 28.5% | 17.4% |
Track quarterly shareholding changes for Ramco Cements →
Ramco Cements Balance Sheet
Proportional view as of 13 Jul 2026. Hover blocks for details.
Assets
Liabilities & Equity
Total assets stood at ₹163.30B at the end of FY2025, up 0.3% from ₹162.73B a year earlier.
Property, Plant & Equipment is the largest block at 80.3%, followed by Inventories at 6.2% and Other Assets at 4.8%.
Equity makes up 45.6% of liabilities and equity, with debt at 28.6% and operating liabilities at 25.8%. Over the year, debt is down 5.3% and equity is up 2.8%.
Balance sheet composition — FY 2025
| Category | Value |
|---|---|
| Cash & ST Investments | 2.09B |
| Receivables | 7.30B |
| Inventories | 10.16B |
| Property, Plant & Equipment | 131.06B |
| Investments | 900.60M |
| Intangibles & Goodwill | 3.86B |
| Other Assets | 7.92B |
| Category | Value |
|---|---|
| Equity | 74.42B |
| Short-term Debt | 12.73B |
| Long-term Debt | 34.01B |
| Trade Payables | 9.39B |
| Other Liabilities | 32.73B |
Ramco Cements Stock Analysis
The latest available financials offer the following view of Ramco Cements (RAMCOCEM).
FY2025 revenue was ₹8,560 Cr, down 9.1% year-over-year.
Revenue has compounded at 8.9% annually over 10 years.
The company remained profitable, with a net margin of 3.1% and net income of ₹270 Cr.
The P/E Ratio model implies 32.4% downside to fair value from the current price. The remaining two models are worth cross-checking before drawing a conclusion — sign up to see the full analysis.
Unlock Full Analysis
Craytheon's full analysis of Ramco Cements goes deeper: three valuation models, growth metrics, and 10 years of financial data.