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← CockpitCompetitor Analysis › STARCEMENT.NS Star Cement Ltd.Open in the cockpit ↗

Star Cement Ltd.STARCEMENT.NSCompetitor analysis, valuation and peers

India · INR·Construction & Infra›Construction Materials
Momentum laggard 19
Mkt cap
$739M
US dollars, full cap
Free float
16%
of shares outstanding
$/day
$386,682
20-day average traded
Fwd P/E
19.2×
forward earnings
ROIC−WACC
+3.3 pp
WACC 9.2%
Hurdle
-12 pp
Req g minus delivered
Close · INR₹172.51
1D-4.2%
1W+0.8%
1M-1.4%
3M-15.2%
6M-27.7%
YTD-23.5%
1Y-32.7%
ATR %3.4%
Beta0.62
52w lowhigh36.0% off high

What Star Cement does

Employees: 3,945

Star Cement at a glance

Size Star Cement (STARCEMENT.NS) is an India Industrials company (Construction Materials) with a market value of $739M, the 701st largest of 1,058 India companies the cockpit tracks. Shares closed at ₹172.51 on 6 Nov 2026.

Performance Over six months the shares fell 27.7%, against -15.7% for the median peer and 0.0% for the India market (cap-weighted) — 4th lowest of 13 in its peer set.

Growth Revenue grew 14.5% over the last twelve months (peer median +5.7%); the operating margin is 13.9% (peer median 8.6%).

Valuation It trades at 19.2× forward earnings against a peer median of 24.5× (3rd cheapest of 13).

Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +17%, so the hurdle is -12 pp: the price already allows for a slowdown.

Capital Return on invested capital runs 3.3 points above its cost of capital (9.2% WACC).

Relative performance

70809010011 May 202611 Aug 20266 Nov 2026Peer median 84STARCEMENT.NS 73
Six months, rebased to 100: Star Cement against the median of its 12 peers (local-currency closes).

Star Cement financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue₹38.1B₹35.9B₹30.0B₹28.9B₹25.8B
Revenue growth—+20%+4%+12%—
Gross profit₹20.6B₹17.1B₹11.8B₹13.5B₹9.32B
EBITDA₹9.02B₹7.96B₹4.39B₹5.63B₹3.61B
Net income₹3.70B₹3.93B₹1.69B₹2.95B₹2.48B
Free cash flown/a₹2.24B-₹3.06B-₹5.23B-₹1.60B
Capital expendituren/a₹4.93B₹5.81B₹10.4B₹5.72B
Total debtn/a₹6.03B₹4.03B₹1.47B₹354M

Quarterly statements and history in the cockpit →

Star Cement competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

0%+50%+100%-10%0%+10%VESUVIUSBIRLACORPNJKLAKSHMIPRSMJOHNSNINDIACEMNUVOCOMIDWESTLTDMONOLITHJSWCEMENTRAMCOCEMACCDALBHARATSTARCEMENT.NS6-month return →1-month return →
Up and to the right = strong over both horizons. Star Cement is the large dot.

Fundamentals: revenue growth against valuation

0%+10%+20%+30%+40%20×40×60×80×VESUVIUSBIRLACORPNJKLAKSHMIPRSMJOHNSNINDIACEMNUVOCOMIDWESTLTDMONOLITHJSWCEMENTRAMCOCEMACCDALBHARATSTARCEMENT.NSRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Star Cement is the large dot.

Capital: growth delivered against growth the price implies

+10%+20%+30%+40%20%40%VESUVIUSBIRLACORPNJKLAKSHMIPRSMJOHNSNNUVOCOMIDWESTLTDRAMCOCEMSTARCEMENT.NSGrowth delivered (Del g) →Growth the price implies (Req g, 7 yrs) →
Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. Star Cement is the large dot.

Star Cement competitors and peer comparison

How Star Cement compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Star Cement against its 12 peers (data as of 6 Nov 2026)
MeasureSTARCEMENT.NSPeer medianRank in peer set
1-month return-1.4%+1.0%6th lowest of 13
6-month return-27.7%-15.7%4th lowest of 13
Distance from 52-week high-36.0%-34.3%6th lowest of 13
Revenue growth (TTM)+14.5%+5.7%2nd highest of 13
Operating margin13.9%8.6%3rd highest of 13
Forward P/E19.2×24.5×3rd cheapest of 13
Growth the price implies (Req g, 7 yrs)4.9%22.6%least demanding of 8
Growth delivered (Del g)+16.8%+8.7%2nd highest of 8
Hurdle (Req g minus delivered)-11.8 pp+8.9 ppleast demanding of 8
ROIC minus cost of capital+3.3 pp-6.0 pp2nd highest of 13
EV / EBITDA7.7×13.3×3rd cheapest of 13
Net debt / EBITDA0.5×1.9×5th least indebted of 13

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Star Cement STARCEMENT.NSIndia$739M-28%+15%14%19.2×4.9%+16.8%
Vesuvius India VESUVIUS.NSIndia$782M-31%+4%13%22.1×30.4%+21.6%
Birla BIRLACORPN.NSIndia$673M-16%+4%9%13.8×5.7%+7.6%
JK Lakshmi Cement JKLAKSHMI.NSIndia$598M-32%+5%8%13.2×14.5%+7.4%
Prism Johnson PRSMJOHNSN.NSIndia$538M-24%+1%3%79.9×22.6%+5.7%
India Cements INDIACEM.NSIndia$1.14B-15%+5%5%25.6×n/an/a
Nuvoco Vistas NUVOCO.NSIndia$1.29B+2%+11%8%20.8×17.8%+8.9%
Midwest MIDWESTLTD.NSIndia$383M-29%+3%21%23.4×39.8%+8.7%
Monolithisch India MONOLITH.NSIndia$307M+136%+39%26%48.2×n/an/a
JSW Cement JSWCEMENT.NSIndia$1.78B-1%+13%12%32.2×n/an/a
Ramco Cements RAMCOCEM.NSIndia$2.05B-15%+9%6%70.1×31.6%+11.2%
ACC ACC.NSIndia$2.46B-13%+8%4%22.9×n/an/a
Dalmia Bharat DALBHARAT.NSIndia$2.92B-26%+6%9%31.2×n/an/a

Questions

Which companies are Star Cement's closest peers?
The cockpit's peer set: Vesuvius India (VESUVIUS.NS), Birla (BIRLACORPN.NS), JK Lakshmi Cement (JKLAKSHMI.NS), Prism Johnson (PRSMJOHNSN.NS), India Cements (INDIACEM.NS), Nuvoco Vistas (NUVOCO.NS), Midwest (MIDWESTLTD.NS), Monolithisch India (MONOLITH.NS).
Is Star Cement expensive compared with its peers?
On forward p/e it trades at 19.2× against a peer median of 24.5×, 3rd cheapest of 13 in its peer set. For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +17%, so the hurdle is -12 pp: the price already allows for a slowdown.
How has Star Cement stock performed?
Over six months to 6 Nov 2026 the shares returned -27.7% against -15.7% for the median peer; over one year -32.7%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.