Reported Earnings • May 23
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: ₹9.73 (up from ₹4.18 in FY 2025). Revenue: ₹38.0b (up 20% from FY 2025). Net income: ₹3.93b (up 133% from FY 2025). Profit margin: 10% (up from 5.3% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.6%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 3.8% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 11
Star Cement Limited to Report Q4, 2026 Results on May 22, 2026 Star Cement Limited announced that they will report Q4, 2026 results on May 22, 2026 Reported Earnings • Feb 07
Third quarter 2026 earnings: EPS and revenues exceed analyst expectations Third quarter 2026 results: EPS: ₹1.85 (up from ₹0.22 in 3Q 2025). Revenue: ₹8.85b (up 23% from 3Q 2025). Net income: ₹749.2m (up ₹658.6m from 3Q 2025). Profit margin: 8.5% (up from 1.3% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 23%. 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, earnings per share has increased by 1% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 28
Star Cement Limited to Report Q3, 2026 Results on Feb 06, 2026 Star Cement Limited announced that they will report Q3, 2026 results on Feb 06, 2026 Buy Or Sell Opportunity • Nov 22
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to ₹224. The fair value is estimated to be ₹287, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.9% over the last 3 years. Earnings per share has declined by 5.1%. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to grow by 53% in the next 2 years. Reported Earnings • Nov 09
Second quarter 2026 earnings: EPS and revenues exceed analyst expectations Second quarter 2026 results: EPS: ₹1.78 (up from ₹0.14 in 2Q 2025). Revenue: ₹8.11b (up 26% from 2Q 2025). Net income: ₹719.5m (up ₹662.1m from 2Q 2025). Profit margin: 8.9% (up from 0.9% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Revenue is forecast to grow 12% 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, earnings per share has fallen by 5% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. Announcement • Oct 27
Star Cement Limited to Report Q2, 2026 Results on Nov 04, 2025 Star Cement Limited announced that they will report Q2, 2026 results on Nov 04, 2025 Price Target Changed • Oct 07
Price target increased by 9.6% to ₹301 Up from ₹275, the current price target is an average from 11 analysts. New target price is 15% above last closing price of ₹261. Stock is up 24% over the past year. The company is forecast to post earnings per share of ₹9.00 for next year compared to ₹4.18 last year. Price Target Changed • Aug 15
Price target increased by 12% to ₹267 Up from ₹238, the current price target is an average from 11 analysts. New target price is 7.7% below last closing price of ₹289. Stock is up 36% over the past year. The company is forecast to post earnings per share of ₹9.26 for next year compared to ₹4.18 last year. Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: ₹2.44 (vs ₹0.77 in 1Q 2025) First quarter 2026 results: EPS: ₹2.44 (up from ₹0.77 in 1Q 2025). Revenue: ₹9.14b (up 22% from 1Q 2025). Net income: ₹984.5m (up 217% from 1Q 2025). Profit margin: 11% (up from 4.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% 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, earnings per share has fallen by 9% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Announcement • Aug 08
Star Cement Limited, Annual General Meeting, Sep 23, 2025 Star Cement Limited, Annual General Meeting, Sep 23, 2025, at 11:30 Indian Standard Time. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹263, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 34x in the Basic Materials industry in India. Total returns to shareholders of 175% over the past three years. Announcement • Jul 30
Star Cement Limited to Report Q1, 2026 Results on Aug 08, 2025 Star Cement Limited announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • May 22
Full year 2025 earnings released: EPS: ₹4.18 (vs ₹7.30 in FY 2024) Full year 2025 results: EPS: ₹4.18 (down from ₹7.30 in FY 2024). Revenue: ₹31.7b (up 9.0% from FY 2024). Net income: ₹1.69b (down 43% from FY 2024). Profit margin: 5.3% (down from 10% in FY 2024). The decrease in margin was driven by higher expenses. 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, earnings per share has fallen by 10% per year but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. Announcement • May 13
Star Cement Limited to Report Q4, 2025 Results on May 21, 2025 Star Cement Limited announced that they will report Q4, 2025 results on May 21, 2025 Reported Earnings • Jan 31
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: ₹0.22 (down from ₹1.82 in 3Q 2024). Revenue: ₹7.21b (up 11% from 3Q 2024). Net income: ₹90.6m (down 88% from 3Q 2024). Profit margin: 1.3% (down from 11% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 120%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 1.3% growth forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Announcement • Jan 28
Star Cement Limited Announces Resignation of Rajendra Chamaria as Vice Chairman, Managing Director and Director Star Cement Limited announced that Mr. Rajendra Chamaria has resigned from the position of Vice Chairman, Managing Director (KMP) and Director of the Company with effect from close of the business hours of 27th January, 2025 due to his personal reasons. New Risk • Jan 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (27% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Profit margins are more than 30% lower than last year (6.7% net profit margin). Significant insider selling over the past 3 months (₹489m sold). Buy Or Sell Opportunity • Jan 22
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to ₹230. The fair value is estimated to be ₹191, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 4.5%. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 98% in the next 2 years. Announcement • Jan 17
Star Cement Limited to Report Q3, 2025 Results on Jan 30, 2025 Star Cement Limited announced that they will report Q3, 2025 results on Jan 30, 2025 Announcement • Jan 01
Star Cement Limited Announces Resignation of Sundaram Srinivasan as Chief Manufacturing Officer Star Cement Limited announced that Mr. Sundaram Srinivasan, Chief Manufacturing Officer, a Senior Management Personnel of the Company has tendered his resignation from the services of the Company effective from the close of business hours on December 31, 2024, due to personal reasons. Announcement • Dec 27
Star Cement Shares Jump 8% as UltraTech to Pick 8.69% Stake Shares of Star Cement Limited (BSE:540575) rallied 8% to INR 247.75 on the BSE on December 27, 2024 after Aditya Birla Group company UltraTech Cement Limited (NSEI:ULTRACEMCO) announced it is buying approximately an 8.69% stake in Star Cement for about INR 8.51 billion. "The Board of Directors of the Company at its meeting considered the proposal and approved making an investment to acquire non-controlling minority stake upto 37.0 million equity shares of Star Cement at a price not exceeding INR 235 per share, excluding STT; stamp duty and other levies," UltraTech said in a regulatory filing. It was stated that some promoters and promoter group entities of Star Cement propose to sell their equity holdings and have approached the company. Media reports had earlier stated that Ambuja Cement, a part of the Adani Group, was in talks to acquire Star Cement as part of its expansion strategy in the Northeast, where Star Cement holds a significant market share. However, Star Cement dismissed these reports, stating that they were speculative and clarifying that no such discussions were underway. The acquisition is expected to be completed within one month and would be an all-cash deal. Announcement • Dec 05
Adani Group Reportedly Evaluates Acquiring Star Cement for Expansion in the North East Adani Enterprises Limited (BSE:512599) unit Ambuja Cements Limited (BSE:500425) is in talks to acquire Star Cement Limited (BSE:540575), a market leader in the North East, as part of its expansion strategy, according to people familiar with the matter. The group is said to have appointed consultancy firm EY for evaluating the deal, they said. Adani Cement did not immediately respond to requests for comment. Star Cement clarified that it is not engaged in any discussions with the group and called the development as 'speculative'. "The company is always evaluating options for growth opportunities," said an Adani Group official. Announcement • Dec 04
Star Cement Denies Reports of Acquisition Talks with Adani Group Star Cement Limited (BSE:540575) on December 4, 2024 dismissed reports suggesting that Adani Enterprises Limited (BSE:512599)’s Ambuja Cements Limited (BSE:500425) is evaluating a potential acquisition of the company to expand its presence in the North East. The company labeled the claims as speculative and clarified that no such discussions are underway. In a filing to the stock exchanges, Star Cement stated, “With reference to the news item that appeared in ‘Money Control,’ we hereby clarify that the above-mentioned news item is speculative, and the company is not engaged in any discussions in this regard.” The company further emphasised its commitment to regulatory compliance, saying, “We have always made and will continue to make disclosures in compliance with our obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.” Earlier, MoneyControl had reported that Ambuja Cement, a subsidiary of the Adani Group, was in talks to acquire Star Cement as part of its expansion strategy in the North East, where Star Cement holds a significant market share. The clarification from Star Cement comes amid heightened scrutiny of merger and acquisition activities in India’s cement sector, following Adani Group’s increasing interest in strengthening its position in the industry. Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹208, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 33x in the Basic Materials industry in India. Total returns to shareholders of 116% over the past three years. Reported Earnings • Nov 13
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: EPS: ₹0.14 (down from ₹1.01 in 2Q 2024). Revenue: ₹6.42b (up 9.6% from 2Q 2024). Net income: ₹57.4m (down 86% from 2Q 2024). Profit margin: 0.9% (down from 6.9% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 53%. Revenue is forecast to grow 15% 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, earnings per share has increased by 4% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 31
Star Cement Limited to Report Q2, 2025 Results on Nov 08, 2024 Star Cement Limited announced that they will report Q2, 2025 results on Nov 08, 2024 Announcement • Oct 19
Star Cement Limited Announces Resignation of Vinit Kumar Tiwari as Chief Executive Officer Star Cement Limited informed that Mr. Vinit Kumar Tiwari has resigned as the Chief Executive Officer (KMP under Companies Act, 2013) of the Company with effect from close of the business hours of 18 October, 2024 due to his personal reasons. Announcement • Oct 08
Star Cement Limited Appoints Dilip Kumar Agarwal as Chief Commercial & Corporate Affairs Officer Star Cement Limited announced that in terms of recommendation of the Nomination & Remuneration Committee and approval of the Board of Directors of the Company, Mr. Dilip Kumar Agarwal has been appointed as Chief Commercial & Corporate Affairs Officer of the Company with effect from 07 October 2024. Accordingly, Mr. Dilip Kumar Agarwal shall be a Senior Management Personnel of the Company effective 07 October 2024. Mr. Dilip Kumar Agarwal is a commerce graduate from Patna University and a member of the Institute of Chartered Accountants of India. He is having more than 30 years of experience in cement and telecom sectors. He has in-depth knowledge in the areas of Business, Finance, Accounts, Taxation, Supply Chain, Audit and Operations. He was earlier associated with the Company as Chief Financial Officer. Announcement • Aug 12
Star Cement Limited, Annual General Meeting, Sep 26, 2024 Star Cement Limited, Annual General Meeting, Sep 26, 2024, at 11:30 Indian Standard Time. Reported Earnings • Aug 10
First quarter 2025 earnings: EPS misses analyst expectations First quarter 2025 results: EPS: ₹0.77 (down from ₹2.31 in 1Q 2024). Revenue: ₹7.52b (down 1.1% from 1Q 2024). Net income: ₹310.4m (down 67% from 1Q 2024). Profit margin: 4.1% (down from 12% in 1Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 45%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 5.5% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 02
Star Cement Limited to Report Q1, 2025 Results on Aug 09, 2024 Star Cement Limited announced that they will report Q1, 2025 results on Aug 09, 2024 Buy Or Sell Opportunity • Jun 04
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.6% to ₹204. The fair value is estimated to be ₹263, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 40% in 2 years. Earnings are forecast to grow by 56% in the next 2 years. Price Target Changed • May 28
Price target increased by 9.0% to ₹231 Up from ₹212, the current price target is an average from 9 analysts. New target price is 6.6% above last closing price of ₹216. Stock is up 62% over the past year. The company is forecast to post earnings per share of ₹9.60 for next year compared to ₹7.30 last year. Reported Earnings • May 27
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: ₹7.30 (up from ₹6.13 in FY 2023). Revenue: ₹29.1b (up 7.6% from FY 2023). Net income: ₹2.95b (up 19% from FY 2023). Profit margin: 10% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.1%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 7.3% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. New Risk • May 25
New major risk - Revenue and earnings growth Earnings have declined by 1.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Announcement • May 16
Star Cement Limited to Report Q4, 2024 Results on May 22, 2024 Star Cement Limited announced that they will report Q4, 2024 results on May 22, 2024 Recent Insider Transactions • Mar 19
MD & Director recently bought ₹53m worth of stock On the 14th of March, Prem Bhajanka bought around 265k shares on-market at roughly ₹200 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. Despite this recent purchase, insiders have collectively sold ₹212m more in shares than they bought in the last 12 months. Price Target Changed • Feb 10
Price target increased by 11% to ₹187 Up from ₹167, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of ₹195. Stock is up 73% over the past year. The company is forecast to post earnings per share of ₹7.11 for next year compared to ₹6.13 last year. Reported Earnings • Feb 08
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: ₹1.82 (up from ₹1.31 in 3Q 2023). Revenue: ₹6.56b (up 5.8% from 3Q 2023). Net income: ₹735.2m (up 39% from 3Q 2023). Profit margin: 11% (up from 8.5% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.2%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 2.0% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 30
Star Cement Limited to Report Q3, 2024 Results on Feb 07, 2024 Star Cement Limited announced that they will report Q3, 2024 results on Feb 07, 2024 Reported Earnings • Nov 12
Second quarter 2024 earnings released: EPS: ₹1.01 (vs ₹0.77 in 2Q 2023) Second quarter 2024 results: EPS: ₹1.01 (up from ₹0.77 in 2Q 2023). Revenue: ₹5.85b (down 1.5% from 2Q 2023). Net income: ₹406.7m (up 31% from 2Q 2023). Profit margin: 6.9% (up from 5.2% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 5.5% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 01
Star Cement Limited to Report Q2, 2024 Results on Nov 09, 2023 Star Cement Limited announced that they will report Q2, 2024 results on Nov 09, 2023 Buying Opportunity • Oct 24
Now 20% undervalued Over the last 90 days, the stock is up 6.0%. The fair value is estimated to be ₹189, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 6.4%. Revenue is forecast to grow by 31% in 2 years. Earnings is forecast to grow by 35% in the next 2 years. Announcement • Sep 29
Star Cement Limited Announces Director Appointments Star Cement Limited announced that at its AGM held on 28th September, 2023, the shareholders approved Appointment of Mr. Tushar Bhajanka as Director and Deputy Managing Director with effect from 08th August, 2023 upto 07th August, 2026. Price Target Changed • Aug 14
Price target increased by 8.1% to ₹149 Up from ₹138, the current price target is an average from 8 analysts. New target price is 8.3% below last closing price of ₹162. Stock is up 78% over the past year. The company is forecast to post earnings per share of ₹7.13 for next year compared to ₹6.13 last year. Price Target Changed • Aug 10
Price target increased by 7.0% to ₹143 Up from ₹133, the current price target is an average from 8 analysts. New target price is 12% below last closing price of ₹162. Stock is up 73% over the past year. The company is forecast to post earnings per share of ₹8.30 for next year compared to ₹6.13 last year. Announcement • Aug 09
Star Cement Limited, Annual General Meeting, Sep 28, 2023 Star Cement Limited, Annual General Meeting, Sep 28, 2023, at 11:30 Indian Standard Time. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹167, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 25x in the Basic Materials industry in India. Total returns to shareholders of 89% over the past three years. Announcement • Aug 01
Star Cement Limited to Report Q1, 2024 Results on Aug 08, 2023 Star Cement Limited announced that they will report Q1, 2024 results on Aug 08, 2023 New Risk • Jun 23
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: ₹117m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (24% accrual ratio). Minor Risk Significant insider selling over the past 3 months (₹117m sold). Recent Insider Transactions • Jun 23
Insider recently sold ₹9.0m worth of stock On the 16th of June, Laxmi Chamaria sold around 60k shares on-market at roughly ₹150 per share. This transaction amounted to 1.7% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹31m. Insiders have been net sellers, collectively disposing of ₹94m more than they bought in the last 12 months. Recent Insider Transactions • Jun 20
Insider recently sold ₹9.0m worth of stock On the 16th of June, Laxmi Chamaria sold around 60k shares on-market at roughly ₹150 per share. This transaction amounted to 1.7% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹96m. Insiders have been net sellers, collectively disposing of ₹89m more than they bought in the last 12 months. Recent Insider Transactions • Jun 13
Insider recently sold ₹31m worth of stock On the 7th of June, Laxmi Chamaria sold around 209k shares on-market at roughly ₹146 per share. This transaction amounted to 5.5% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹96m. Insiders have been net sellers, collectively disposing of ₹73m more than they bought in the last 12 months. Price Target Changed • May 24
Price target increased by 7.5% to ₹127 Up from ₹118, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of ₹125. Stock is up 39% over the past year. The company is forecast to post earnings per share of ₹5.96 for next year compared to ₹6.13 last year. Reported Earnings • May 21
Full year 2023 earnings released: EPS: ₹6.13 (vs ₹6.04 in FY 2022) Full year 2023 results: EPS: ₹6.13 (up from ₹6.04 in FY 2022). Revenue: ₹27.6b (up 24% from FY 2022). Net income: ₹2.48b (flat on FY 2022). Profit margin: 9.0% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 12
Star Cement Limited to Report Q4, 2023 Results on May 19, 2023 Star Cement Limited announced that they will report Q4, 2023 results on May 19, 2023 Recent Insider Transactions • Mar 23
Insider recently bought ₹5.6m worth of stock On the 20th of March, Sumitra Agarwal bought around 61k shares on-market at roughly ₹90.90 per share. This transaction amounted to 2.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold ₹126m more in shares than they bought in the last 12 months. Recent Insider Transactions • Feb 18
Insider recently bought ₹5.1m worth of stock On the 14th of February, Sumitra Agarwal bought around 46k shares on-market at roughly ₹111 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹8.4m. Despite this recent purchase, insiders have collectively sold ₹79m more in shares than they bought in the last 12 months. Price Target Changed • Feb 07
Price target increased by 7.5% to ₹116 Up from ₹108, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of ₹113. Stock is up 21% over the past year. The company is forecast to post earnings per share of ₹5.40 for next year compared to ₹6.04 last year. Reported Earnings • Feb 05
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: ₹1.31 (up from ₹1.09 in 3Q 2022). Revenue: ₹6.20b (up 12% from 3Q 2022). Net income: ₹528.7m (up 21% from 3Q 2022). Profit margin: 8.5% (up from 7.9% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) exceeded analyst estimates by 19%. Revenue is forecast to grow 13% 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 3% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Feb 04
Star Cement Limited Announces Board Changes Star Cement Limited announced the outcome of the Board Meeting held 03rd February, 2023, terms of appointment of Mr. Pramod Kumar Shah (DIN: 00343256), Independent Director will be expiring on close of the business hours of 31st March, 2023. Therefore, Mr. Pramod Kumar Shah will cease to be an Independent Director with effect from 01st April, 2023 due to expiry of his terms. Reconstitution of Committees: At the said meeting, the Board of Directors has reconstituted its Audit Committee with effect from 01st April, 2023 as under: Audit Committee: Mr. Amit Kiran Deb as Chairman, Mr. Sajjan Bhajanka and Mr. Vivek Chawla as members. At the said meeting, the Board of Directors has reconstituted its Nomination & Remuneration Committee with effect from 01st April, 2023 as under: Mr. Amit Kiran Deb as Chairman, Mr. Nirmalya Bhattacharyya and Mr. Vivek Chawla as members. At the said meeting, the Board of Directors has reconstituted its Corporate Social Responsibility Committee with effect from 01st April, 2023 as under: Mr. Sanjay Agarwal as Chairman, Mr. Sajjan Bhajanka and Mr. Vivek Chawla as Members. At the said meeting, the Board of Directors has reconstituted its Stakeholders Relationship Committee with effect from 01st April, 2023 as under: Mr. Vivek Chawla as Chairman, Mr. Sanjay Agarwal and Mr. Sajjan Bhajanka as members. At the said meeting, the Board of Directors has reconstituted its Risk Management Committee with effect from 01st April, 2023 as under: Mr. Sanjay Agarwal as Chairman, Mr. Nirmalya Bhattacharyya, Mr. Vivek Chawla as Members. Announcement • Jan 25
Star Cement Limited to Report Q3, 2023 Results on Feb 03, 2023 Star Cement Limited announced that they will report Q3, 2023 results on Feb 03, 2023 Recent Insider Transactions • Jan 02
Insider recently sold ₹2.3m worth of stock On the 27th of December, Kamakhya Chamaria sold around 20k shares on-market at roughly ₹115 per share. This transaction amounted to 1.8% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹33m. Insiders have been net sellers, collectively disposing of ₹52m more than they bought in the last 12 months. Recent Insider Transactions • Dec 14
Insider recently sold ₹33m worth of stock On the 9th of December, Rahul Chamaria sold around 283k shares on-market at roughly ₹118 per share. This transaction amounted to 4.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought ₹18m more than they sold in the last 12 months. Reported Earnings • Nov 17
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: EPS: ₹0.77 (down from ₹1.13 in 2Q 2022). Revenue: ₹6.08b (up 50% from 2Q 2022). Net income: ₹310.6m (down 33% from 2Q 2022). Profit margin: 5.1% (down from 11% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.1%. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Recent Insider Transactions • Oct 08
Vice Chairman & MD recently sold ₹4.5m worth of stock On the 30th of September, Rajendra Chamaria sold around 42k shares on-market at roughly ₹106 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Rajendra's only on-market trade for the last 12 months. Recent Insider Transactions • Sep 30
MD & Director recently bought ₹3.0m worth of stock On the 23rd of September, Prem Bhajanka bought around 29k shares on-market at roughly ₹102 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹5.2m. Insiders have collectively bought ₹123m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Sep 15
MD & Director recently bought ₹5.2m worth of stock On the 9th of September, Prem Bhajanka bought around 50k shares on-market at roughly ₹105 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹6.8m. Insiders have collectively bought ₹123m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Aug 27
Insider recently sold ₹1.2m worth of stock On the 23rd of August, Sarika Jalan sold around 13k shares on-market at roughly ₹92.82 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought ₹117m more than they sold in the last 12 months. Reported Earnings • Aug 03
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: ₹1.67. Revenue: ₹6.80b (up 33% from 1Q 2022). Net income: ₹675.6m (flat on 1Q 2022). Profit margin: 9.9% (down from 13% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 7.7%. Over the next year, revenue is forecast to grow 7.0%, compared to a 13% growth forecast for the industry in India. Recent Insider Transactions • Jun 30
MD & Director recently bought ₹2.2m worth of stock On the 23rd of June, Prem Bhajanka bought around 26k shares on-market at roughly ₹84.59 per share. In the last 3 months, they made an even bigger purchase worth ₹6.8m. Insiders have collectively bought ₹118m more in shares than they have sold in the last 12 months.