Employees: 3,945
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).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| 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 flow | n/a | ₹2.24B | -₹3.06B | -₹5.23B | -₹1.60B |
| Capital expenditure | n/a | ₹4.93B | ₹5.81B | ₹10.4B | ₹5.72B |
| Total debt | n/a | ₹6.03B | ₹4.03B | ₹1.47B | ₹354M |
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| Measure | STARCEMENT.NS | Peer median | Rank 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 margin | 13.9% | 8.6% | 3rd highest of 13 |
| Forward P/E | 19.2× | 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 pp | least demanding of 8 |
| ROIC minus cost of capital | +3.3 pp | -6.0 pp | 2nd highest of 13 |
| EV / EBITDA | 7.7× | 13.3× | 3rd cheapest of 13 |
| Net debt / EBITDA | 0.5× | 1.9× | 5th least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Star Cement STARCEMENT.NS | India | $739M | -28% | +15% | 14% | 19.2× | 4.9% | +16.8% |
| Vesuvius India VESUVIUS.NS | India | $782M | -31% | +4% | 13% | 22.1× | 30.4% | +21.6% |
| Birla BIRLACORPN.NS | India | $673M | -16% | +4% | 9% | 13.8× | 5.7% | +7.6% |
| JK Lakshmi Cement JKLAKSHMI.NS | India | $598M | -32% | +5% | 8% | 13.2× | 14.5% | +7.4% |
| Prism Johnson PRSMJOHNSN.NS | India | $538M | -24% | +1% | 3% | 79.9× | 22.6% | +5.7% |
| India Cements INDIACEM.NS | India | $1.14B | -15% | +5% | 5% | 25.6× | n/a | n/a |
| Nuvoco Vistas NUVOCO.NS | India | $1.29B | +2% | +11% | 8% | 20.8× | 17.8% | +8.9% |
| Midwest MIDWESTLTD.NS | India | $383M | -29% | +3% | 21% | 23.4× | 39.8% | +8.7% |
| Monolithisch India MONOLITH.NS | India | $307M | +136% | +39% | 26% | 48.2× | n/a | n/a |
| JSW Cement JSWCEMENT.NS | India | $1.78B | -1% | +13% | 12% | 32.2× | n/a | n/a |
| Ramco Cements RAMCOCEM.NS | India | $2.05B | -15% | +9% | 6% | 70.1× | 31.6% | +11.2% |
| ACC ACC.NS | India | $2.46B | -13% | +8% | 4% | 22.9× | n/a | n/a |
| Dalmia Bharat DALBHARAT.NS | India | $2.92B | -26% | +6% | 9% | 31.2× | n/a | n/a |