Announcement • May 15
Sagar Cements Limited, Annual General Meeting, Jun 25, 2026 Sagar Cements Limited, Annual General Meeting, Jun 25, 2026, at 15:30 Indian Standard Time. New Risk • May 14
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.4% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Reported Earnings • May 14
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: ₹0.06 loss per share (improved from ₹16.05 loss in FY 2025). Revenue: ₹26.7b (up 18% from FY 2025). Net loss: ₹110.7m (loss narrowed 95% from FY 2025). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 99%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 2.3% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • May 12
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to ₹179. The fair value is estimated to be ₹224, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has declined by 76%. Announcement • May 04
Sagar Cements Limited to Report Q4, 2026 Results on May 13, 2026 Sagar Cements Limited announced that they will report Q4, 2026 results on May 13, 2026 Price Target Changed • Apr 12
Price target decreased by 8.0% to ₹254 Down from ₹276, the current price target is an average from 5 analysts. New target price is 40% above last closing price of ₹182. Stock is down 6.4% over the past year. The company is forecast to post a net loss per share of ₹9.07 next year compared to a net loss per share of ₹16.05 last year. Buy Or Sell Opportunity • Mar 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to ₹181. The fair value is estimated to be ₹227, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has declined by 76%. Reported Earnings • Jan 22
Third quarter 2026 earnings released: ₹4.90 loss per share (vs ₹4.17 loss in 3Q 2025) Third quarter 2026 results: ₹4.90 loss per share (further deteriorated from ₹4.17 loss in 3Q 2025). Revenue: ₹5.91b (up 4.7% from 3Q 2025). Net loss: ₹575.8m (loss widened 4.6% from 3Q 2025). Revenue is forecast to grow 13% p.a. on average during the next 3 years, while revenues in the Basic Materials industry in India are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Announcement • Jan 13
Sagar Cements Limited to Report Q3, 2026 Results on Jan 21, 2026 Sagar Cements Limited announced that they will report Q3, 2026 results on Jan 21, 2026 Reported Earnings • Oct 24
Second quarter 2026 earnings released: ₹3.38 loss per share (vs ₹4.36 loss in 2Q 2025) Second quarter 2026 results: ₹3.38 loss per share (improved from ₹4.36 loss in 2Q 2025). Revenue: ₹6.06b (up 28% from 2Q 2025). Net loss: ₹423.1m (loss narrowed 24% from 2Q 2025). Revenue is forecast to grow 11% p.a. on average during the next 3 years, while revenues in the Basic Materials industry in India are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Announcement • Oct 15
Sagar Cements Limited to Report Q2, 2026 Results on Oct 23, 2025 Sagar Cements Limited announced that they will report Q2, 2026 results on Oct 23, 2025 Price Target Changed • Aug 05
Price target increased by 8.6% to ₹268 Up from ₹247, the current price target is an average from 6 analysts. New target price is 12% above last closing price of ₹239. Stock is up 3.5% over the past year. The company is forecast to post a net loss per share of ₹0.05 next year compared to a net loss per share of ₹16.05 last year. Reported Earnings • Jul 22
First quarter 2026 earnings released: EPS: ₹0.57 (vs ₹2.46 loss in 1Q 2025) First quarter 2026 results: EPS: ₹0.57 (up from ₹2.46 loss in 1Q 2025). Revenue: ₹6.75b (up 20% from 1Q 2025). Net income: ₹12.2m (up ₹296.1m from 1Q 2025). Profit margin: 0.2% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 2 years, while revenues in the Basic Materials industry in India are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Announcement • Jul 11
Sagar Cements Limited to Report Q1, 2026 Results on Jul 21, 2025 Sagar Cements Limited announced that they will report Q1, 2026 results on Jul 21, 2025 Price Target Changed • Jun 21
Price target increased by 8.5% to ₹253 Up from ₹233, the current price target is an average from 6 analysts. New target price is 11% above last closing price of ₹229. Stock is down 8.3% over the past year. The company is forecast to post a net loss per share of ₹1.23 next year compared to a net loss per share of ₹16.05 last year. Announcement • May 13
Sagar Cements Limited, Annual General Meeting, Jun 30, 2025 Sagar Cements Limited, Annual General Meeting, Jun 30, 2025, at 15:30 Indian Standard Time. Reported Earnings • May 13
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: ₹16.58 loss per share (further deteriorated from ₹3.32 loss in FY 2024). Revenue: ₹22.8b (down 9.0% from FY 2024). Net loss: ₹2.10b (loss widened 384% from FY 2024). Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 31%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, while revenues in the Basic Materials industry in India are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Announcement • May 03
Sagar Cements Limited to Report Q4, 2025 Results on May 12, 2025 Sagar Cements Limited announced that they will report Q4, 2025 results on May 12, 2025 Recent Insider Transactions • Mar 19
Joint MD & Executive Director recently bought ₹1.6m worth of stock On the 12th of March, Sreekanth Sammidi bought around 9k shares on-market at roughly ₹176 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Sreekanth has been a buyer over the last 12 months, purchasing a net total of ₹3.0m worth in shares. Recent Insider Transactions • Feb 21
Joint MD & Executive Director recently bought ₹1.4m worth of stock On the 18th of February, Sreekanth Sammidi bought around 8k shares on-market at roughly ₹181 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Sreekanth's only on-market trade for the last 12 months. Reported Earnings • Jan 25
Third quarter 2025 earnings released: ₹4.17 loss per share (vs ₹0.78 loss in 3Q 2024) Third quarter 2025 results: ₹4.17 loss per share (further deteriorated from ₹0.78 loss in 3Q 2024). Revenue: ₹5.69b (down 15% from 3Q 2024). Net loss: ₹550.7m (loss widened ₹473.2m from 3Q 2024). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Basic Materials industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Announcement • Jan 08
Sagar Cements Limited to Report Q3, 2025 Results on Jan 24, 2025 Sagar Cements Limited announced that they will report Q3, 2025 results on Jan 24, 2025 Board Change • Dec 04
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent & Non-Executive Director Ravichandran Rajagopal was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Dec 02
Price target decreased by 7.7% to ₹238 Down from ₹258, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of ₹231. Stock is down 15% over the past year. The company is forecast to post a net loss per share of ₹8.25 next year compared to a net loss per share of ₹3.32 last year. Announcement • Nov 29
Sagar Cements Limited Appoints Jens Van Nieuwenborgh as Nominee Director Sagar Cements Limited approved the Appointment of Mr. Jens Van Nieuwenborgh (DIN: 07638244) as a Nominee Director of the Company at postal ballot on November 29, 2024. Buy Or Sell Opportunity • Oct 25
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to ₹202. The fair value is estimated to be ₹266, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Oct 24
Second quarter 2025 earnings released: ₹4.36 loss per share (vs ₹0.81 loss in 2Q 2024) Second quarter 2025 results: ₹4.36 loss per share (further deteriorated from ₹0.81 loss in 2Q 2024). Revenue: ₹4.80b (down 18% from 2Q 2024). Net loss: ₹555.6m (loss widened ₹471.6m from 2Q 2024). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 4.4% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Announcement • Oct 21
Sagar Cements Limited Announces Resignation of John Eric Fernand Pascal Bertrand as Non-Executive - Non Independent Director Sagar Cements Limited announced that Mr.John Eric Fernand Pascal Bertrand has tendered his resignation as Non-Executive - Non Independent Director due to personal reasons. Announcement • Oct 14
Sagar Cements Limited to Report Q2, 2025 Results on Oct 23, 2024 Sagar Cements Limited announced that they will report Q2, 2025 results on Oct 23, 2024 Announcement • Sep 12
Sagar Cements Limited Announces Resignation of Jens Van Nieuwenborgh as Alternate Director Sagar Cements Limited informed that Mr. Jens Van Nieuwenborgh has tendered his resignation as Alternate Director to Mr. John Eric Fernand Pascal Bertrand due to personal reasons. Cessation date is September 12, 2024. Reported Earnings • Jul 20
First quarter 2025 earnings released: ₹2.46 loss per share (vs ₹3.23 loss in 1Q 2024) First quarter 2025 results: ₹2.46 loss per share (improved from ₹3.23 loss in 1Q 2024). Revenue: ₹5.61b (up 3.9% from 1Q 2024). Net loss: ₹283.9m (loss narrowed 29% from 1Q 2024). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.4% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Announcement • Jul 10
Sagar Cements Limited to Report Q1, 2025 Results on Jul 18, 2024 Sagar Cements Limited announced that they will report Q1, 2025 results on Jul 18, 2024 Announcement • Jun 27
Sagar Cements Limited Declares Dividend for the Fiscal Year 2024 Sagar Cements Limited declared dividend@ INR 0.70 per share (35%) on the equity shares of the Company for the Fiscal Year 2024. Declared Dividend • Jun 05
Dividend of ₹0.70 announced Dividend of ₹0.70 is the same as last year. Ex-date: 19th June 2024 Payment date: 26th July 2024 Dividend yield will be 0.3%, which is about the same as the industry average. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (5% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. Announcement • Jun 05
Sagar Cements Limited, Annual General Meeting, Jun 26, 2024 Sagar Cements Limited, Annual General Meeting, Jun 26, 2024, at 15:00 Indian Standard Time. Price Target Changed • May 17
Price target decreased by 9.3% to ₹260 Down from ₹287, the current price target is an average from 7 analysts. New target price is 19% above last closing price of ₹219. Stock is up 9.6% over the past year. The company is forecast to post a net loss per share of ₹0.10 next year compared to a net loss per share of ₹3.98 last year. Reported Earnings • May 16
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: ₹3.98 loss per share (down from ₹2.24 profit in FY 2023). Revenue: ₹25.6b (up 15% from FY 2023). Net loss: ₹433.6m (down 249% from profit in FY 2023). Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 174%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 5.1% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Announcement • May 15
Sagar Cements Limited Recommends Dividend for the Financial Year 2023-2024 Sagar Cements Limited at the board Meeting held on 14 May 2024, recommended a dividend for the financial year 2023-2024. The has recommended for approval of the shareholders at their 43rd Annual General Meeting tobe held in due course, a dividend at INR 0.70 paise per equity share (35%) on the 130,707,548 equity shares of INR 2/- each of the company for the financial year 2023-2024. Announcement • May 08
Sagar Cements Limited to Report Q4, 2024 Results on May 14, 2024 Sagar Cements Limited announced that they will report Q4, 2024 results on May 14, 2024 Reported Earnings • Jan 25
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: ₹0.78 loss per share (improved from ₹2.08 loss in 3Q 2023). Revenue: ₹6.73b (up 17% from 3Q 2023). Net loss: ₹77.5m (loss narrowed 65% from 3Q 2023). Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 2.5% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 111 percentage points per year, which is a significant difference in performance. Announcement • Dec 30
Sagar Cements Limited to Report Q3, 2024 Results on Jan 24, 2024 Sagar Cements Limited announced that they will report Q3, 2024 results on Jan 24, 2024 Announcement • Nov 12
Sagar Cements Limited Appoints Shri J. Raja Reddy as Company Secretary and Compliance Officer Sagar Cements Limited announced that Shri J. Raja Reddy has been appointed as Company Secretary and Key Managerial Personnel by the Board of Directors of the company at their meeting held on 19th October, 2023 and his appointment is effective from 11th November, 2023. Announcement • Oct 20
Sagar Cements Limited Announces Change of Company Secretary Sagar Cements Limited announced that Board at its meeting held has accepted the request received from Shri R.Soundararajan, Company Secretary seeking retirement on health grounds and has accepted his request to be relieved with effect from 10th November, 2023. In the above said meeting, the Board has appointed Shri J.Raja Reddy as Company Secretary and Compliance Officer with effect from 11th November, 2023. Brief profile: Qualification: B.Sc., LLB, Associate Company Secretary. Has been associated with Sagar Group since 2013. Currently, he is working as Assistant Company Secretary in Sagar Cements Limited. Reported Earnings • Oct 20
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: ₹0.81 loss per share (improved from ₹3.76 loss in 2Q 2023). Revenue: ₹5.90b (up 24% from 2Q 2023). Net loss: ₹84.0m (loss narrowed 80% from 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 66%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 6.6% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Announcement • Sep 28
Sagar Cements Limited to Report Q2, 2024 Results on Oct 19, 2023 Sagar Cements Limited announced that they will report Q2, 2024 results on Oct 19, 2023 Reported Earnings • Jul 28
First quarter 2024 earnings released: ₹3.23 loss per share (vs ₹1.04 loss in 1Q 2023) First quarter 2024 results: ₹3.23 loss per share (further deteriorated from ₹1.04 loss in 1Q 2023). Revenue: ₹5.44b (down 2.5% from 1Q 2023). Net loss: ₹397.7m (loss widened 451% from 1Q 2023). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 6.2% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Announcement • Jul 13
Sagar Cements Limited to Report Q1, 2024 Results on Jul 27, 2023 Sagar Cements Limited announced that they will report Q1, 2024 results on Jul 27, 2023 Announcement • Jun 30
Sagar Cements Limited Declares Dividend for Dividend for the Year 2022-23 Sagar Cements Limited informed that shareholders at their 42nd Annual General Meeting held on June 28, 2023 declared the payment of a dividend at INR 0.70 per equity share (35%) on the 130,707,548 equity shares of INR 2/- each for dividend for the year 2022-23, which will be disbursed to shareholders within 30 days of their above said declaration. Upcoming Dividend • Jun 13
Upcoming dividend of ₹0.70 per share at 0.3% yield Eligible shareholders must have bought the stock before 20 June 2023. Payment date: 28 July 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.5%). New Risk • Jun 08
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 1,521% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Announcement • May 25
Sagar Cements Limited, Annual General Meeting, Jun 28, 2023 Sagar Cements Limited, Annual General Meeting, Jun 28, 2023, at 15:00 Indian Standard Time. Buying Opportunity • May 18
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 8.0%. The fair value is estimated to be ₹253, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has declined by 48%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings is also forecast to grow by 58% per annum over the same time period. Announcement • May 11
Sagar Cements Limited Recommends Dividend for the Financial Year 2022-23 Sagar Cements Limited recommended for approval of the shareholders at their 42nd Annual General Meeting to be held in due course, a dividend at INR 0.70 per equity share (35%) on the 13,07,07,548 equity shares of INR . 2/- each of the company for the financial year 2022-23. Reported Earnings • May 11
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: ₹0.66 (down from ₹5.89 in FY 2022). Revenue: ₹24.5b (up 54% from FY 2022). Net income: ₹290.4m (down 58% from FY 2022). Profit margin: 1.2% (down from 4.3% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 55% per year, which means it is well ahead of earnings. Announcement • Jan 25
Sagar Cements Limited Announces Directorate Changes Sagar Cements Limited announced that with the personal presence of Mr. John-Eric Bertrand, one of directors, at the Board Meeting held on 23 January, 2023, Mr. Jens Van Nieuwenborgh, who had been an alternate director to the former, ceased to be the Alternate Director with effect from the said date i.e.,23 January, 2023 in accordance with Section 161 (2) of the Companies Act, 2013. Reported Earnings • Jan 24
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: ₹2.08 loss per share (down from ₹0.39 profit in 3Q 2022). Revenue: ₹5.90b (up 77% from 3Q 2022). Net loss: ₹220.2m (down ₹273.5m from profit in 3Q 2022). Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 73%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Announcement • Jan 10
Sagar Cements Limited to Report Q3, 2023 Results on Jan 23, 2023 Sagar Cements Limited announced that they will report Q3, 2023 results at 3:30 PM, Indian Standard Time on Jan 23, 2023 Reported Earnings • Oct 21
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: ₹3.76 loss per share (down from ₹1.77 profit in 2Q 2022). Revenue: ₹4.75b (up 29% from 2Q 2022). Net loss: ₹422.5m (down 301% from profit in 2Q 2022). Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 7.4%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Price Target Changed • Jul 31
Price target decreased to ₹234 Down from ₹256, the current price target is an average from 8 analysts. New target price is 32% above last closing price of ₹177. Stock is down 32% over the past year. The company is forecast to post earnings per share of ₹1.70 for next year compared to ₹5.89 last year. Reported Earnings • Jul 22
First quarter 2023 earnings: Revenues exceed analyst expectations First quarter 2023 results: Net loss: ₹72.2m (down 114% from profit in 1Q 2022). Revenue exceeded analyst estimates by 9.5%. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹171, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 25x in the Basic Materials industry in India. Total returns to shareholders of 40% over the past three years. Upcoming Dividend • Jun 15
Upcoming dividend of ₹0.70 per share Eligible shareholders must have bought the stock before 22 June 2022. Payment date: 30 July 2022. Payout ratio is a comfortable 12% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.8%). Lower than average of industry peers (1.0%). Price Target Changed • May 18
Price target decreased to ₹274 Down from ₹300, the current price target is an average from 7 analysts. New target price is 28% above last closing price of ₹214. Stock is up 20% over the past year. The company is forecast to post earnings per share of ₹6.72 for next year compared to ₹8.38 last year. Reported Earnings • May 14
Full year 2022 earnings: Revenues exceed analyst expectations Full year 2022 results: Revenue: ₹16.0b (up 16% from FY 2021). Net income: ₹591.5m (down 68% from FY 2021). Profit margin: 3.7% (down from 14% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Over the next year, revenue is forecast to grow 40%, compared to a 14% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improved over the past week After last week's 17% share price gain to ₹241, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 20x in the Basic Materials industry in India. Total returns to shareholders of 84% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹183 per share. Price Target Changed • Feb 02
Price target decreased to ₹312 Down from ₹337, the current price target is an average from 7 analysts. New target price is 20% above last closing price of ₹259. Stock is up 88% over the past year. The company is forecast to post earnings per share of ₹9.55 for next year compared to ₹16.08 last year. Reported Earnings • Jan 30
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: ₹0.39 (down from ₹4.23 in 3Q 2021). Revenue: ₹3.34b (down 8.3% from 3Q 2021). Net income: ₹53.3m (down 89% from 3Q 2021). Profit margin: 1.6% (down from 14% in 3Q 2021). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 57%. Over the next year, revenue is forecast to grow 34%, compared to a 13% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 29
Second quarter 2022 earnings released: EPS ₹1.77 (vs ₹4.32 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: ₹3.72b (up 14% from 2Q 2021). Net income: ₹210.7m (down 58% from 2Q 2021). Profit margin: 5.7% (down from 15% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment deteriorated over the past week After last week's 81% share price decline to ₹291, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 25x in the Basic Materials industry in India. Total loss to shareholders of 62% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹370 per share. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment improved over the past week After last week's 17% share price gain to ₹1,363, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 27x in the Basic Materials industry in India. Total returns to shareholders of 71% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹2,120 per share. Upcoming Dividend • Jul 09
Upcoming dividend of ₹2.50 per share Eligible shareholders must have bought the stock before 16 July 2021. Payment date: 27 August 2021. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (1.0%). Reported Earnings • Jul 06
Full year 2021 earnings released: EPS ₹80.42 (vs ₹12.44 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹13.7b (up 17% from FY 2020). Net income: ₹1.86b (up ₹1.59b from FY 2020). Profit margin: 14% (up from 2.3% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improved over the past week After last week's 21% share price gain to ₹1,035, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 24x in the Basic Materials industry in India. Total returns to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹1,669 per share. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improved over the past week After last week's 16% share price gain to ₹914, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 27x in the Basic Materials industry in India. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹1,693 per share. Reported Earnings • May 15
Full year 2021 earnings released: EPS ₹78.92 (vs ₹12.44 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹13.8b (up 17% from FY 2020). Net income: ₹1.86b (up ₹1.59b from FY 2020). Profit margin: 14% (up from 2.3% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.