Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹68.71, the stock trades at a trailing P/E ratio of 53.2x. Average trailing P/E is 32x in the Basic Materials industry in India. Total loss to shareholders of 41% over the past year. Duyuru • Jul 23
Saurashtra Cement Limited to Report Q1, 2027 Results on Aug 06, 2026 Saurashtra Cement Limited announced that they will report Q1, 2027 results on Aug 06, 2026 Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. Non-Executive Independent Director Viren Merchant was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Jun 19
Saurashtra Cement Limited Appoints Sonali Sanas as Chief Executive Officer of Paint Division with Effect from 16 August 2026 Saurashtra Cement Limited at its board meeting held on June 18, 2026 approved appointment of Ms. Sonali Sanas as Chief Executive Officer of Paint Division with effect from 16th August 2026. Ms. Sonali Sanas is a seasoned business executive who has successfully led functions across the Cement, Steel, Media, and Family Office sectors. Prior to joining the Company, she held senior leadership positions with reputed organizations such as the Ispat-Mittal Group, Hathway Cable & Datacom Limited, and the Dainik Bhaskar Group. Ms. Sonali Sanas has been associated with the Company for over 11 years and currently serves as Chief Legal Officer and Company Secretary. Since the last one year, she has also been serving as Chief Human Resource Officer of the Company. Since the acquisition of the Paints Business, she has played a key role in supporting Snowcem Paints across various strategic and operational areas, including talent acquisition, employee training and development, organizational capability building, and business operations. Ms. Sonali Sanas is a qualified Company Secretary, a law graduate, and holds a postgraduate degree in Financial Management. She has further enhanced her leadership and management capabilities through executive education programmes at premier institutions, induding the Advanced Management Program from The Wharton School, University of Pennsylvania, the General Management Program from IIM Raipur, and the CHRO Program from the Indian School of Business (ISB). With over 26 years of diverse leadership experience, Her extensive experience in corporate leadership, governance, people management, and business operations positions her well to contribute to the continued growth and strategic development of the Paints Division. Reported Earnings • May 14
Full year 2026 earnings released: EPS: ₹1.30 (vs ₹0.63 in FY 2025) Full year 2026 results: EPS: ₹1.30 (up from ₹0.63 in FY 2025). Revenue: ₹16.8b (up 9.6% from FY 2025). Net income: ₹144.2m (up 107% from FY 2025). Profit margin: 0.9% (up from 0.5% in FY 2025). Duyuru • Apr 24
Saurashtra Cement Limited to Report Q4, 2026 Results on May 12, 2026 Saurashtra Cement Limited announced that they will report Q4, 2026 results on May 12, 2026 Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹62.11, the stock trades at a trailing P/E ratio of 24.2x. Average trailing P/E is 24x in the Basic Materials industry in India. Total loss to shareholders of 23% over the past year. Reported Earnings • Feb 10
Third quarter 2026 earnings released: ₹0.92 loss per share (vs ₹0.39 loss in 3Q 2025) Third quarter 2026 results: ₹0.92 loss per share (further deteriorated from ₹0.39 loss in 3Q 2025). Revenue: ₹4.15b (up 9.9% from 3Q 2025). Net loss: ₹102.9m (loss widened 136% from 3Q 2025). Duyuru • Jan 29
Saurashtra Cement Limited to Report Q3, 2026 Results on Feb 09, 2026 Saurashtra Cement Limited announced that they will report Q3, 2026 results on Feb 09, 2026 New Risk • Dec 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.95b (US$99.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 23% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (₹8.95b market cap, or US$99.0m). Duyuru • Oct 27
Saurashtra Cement Limited to Report Q2, 2026 Results on Nov 07, 2025 Saurashtra Cement Limited announced that they will report Q2, 2026 results on Nov 07, 2025 Duyuru • Jul 14
Saurashtra Cement Limited to Report Q1, 2026 Results on Jul 24, 2025 Saurashtra Cement Limited announced that they will report Q1, 2026 results on Jul 24, 2025 New Risk • Jun 28
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 7.6% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 215% Paying a dividend despite having no free cash flows. Earnings have declined by 24% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.5% net profit margin). Reported Earnings • May 28
Full year 2025 earnings released: EPS: ₹0.63 (vs ₹5.11 in FY 2024) Full year 2025 results: EPS: ₹0.63 (down from ₹5.11 in FY 2024). Revenue: ₹15.4b (down 13% from FY 2024). Net income: ₹69.8m (down 88% from FY 2024). Profit margin: 0.5% (down from 3.2% in FY 2024). Duyuru • May 23
Saurashtra Cement Limited, Annual General Meeting, Aug 29, 2025 Saurashtra Cement Limited, Annual General Meeting, Aug 29, 2025, at 12:30 Indian Standard Time. Duyuru • May 13
Saurashtra Cement Limited to Report Fiscal Year 2025 Final Results on May 22, 2025 Saurashtra Cement Limited announced that they will report fiscal year 2025 final results on May 22, 2025 New Risk • May 01
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 8.5% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 215% Paying a dividend despite having no free cash flows. Earnings have declined by 22% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.3% net profit margin). Duyuru • Jan 30
Saurashtra Cement Limited to Report Q3, 2025 Results on Feb 13, 2025 Saurashtra Cement Limited announced that they will report Q3, 2025 results on Feb 13, 2025 Duyuru • Nov 29
Saurashtra Cement Limited Informs Closure of Operations At Sidheegram Plant Saurashtra Cement Limited informed that the kiln at Sidheegram Plant, Dist: Gir Somnath is stopped for about 10-15 days on account of higher clinker inventory. There will be no clinker production during this period. Duyuru • Oct 30
Saurashtra Cement Limited to Report Q2, 2025 Results on Nov 13, 2024 Saurashtra Cement Limited announced that they will report Q2, 2025 results on Nov 13, 2024 Buy Or Sell Opportunity • Oct 07
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to ₹110. The fair value is estimated to be ₹142, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Meanwhile, the company has become profitable. Recent Insider Transactions • Sep 17
Chief Legal Officer recently sold ₹1.3m worth of stock On the 12th of September, Sonali Sanas sold around 10k shares on-market at roughly ₹126 per share. This transaction amounted to 61% 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 ₹11m. Insiders have been net sellers, collectively disposing of ₹31m more than they bought in the last 12 months. Duyuru • Sep 09
Saurashtra Cement Limited Announces Chief Financial Officer Changes Saurashtra Cement Limited announced that Mr. Virendra Raj Mohnot has retired effective from the closure of business hours on September 8, 2024 as Chief Financial Officer and Key Managerial Personnel of the Company. Mr. Pradeep Mehta was appointed as Chief Financial Officer (CFO) and Key Managerial Personnel of the Company effective from September 9, 2024 by the Board of Directors at its Meeting held on July 8, 2024. Mr. Pradeep Mehta holds Bachelor of Science (BSc) and is Chartered Accountant (CA) and CS-inter by profession. He has 28 years' experience as a Finance Professional with an entrepreneurial mind across diverse industries. He has a strong track record of managing Finance, Accounts, Audits and Compliances, and possesses good personality and effective communication skills. He was associated as President- Chief Financial Officer of Garware High- Tech Films Ltd; Chief Financial Officer with Arihant Superstructures Limited and in different financial position /roles with Mabati Rolling Mills Limited, Jindal Steel and Power Global Ventures, Essar Steel Limited, Jindal Power Limited and Grasim Industries Limited. Mr. Pradeep Mehta has motivational leadership, strong interpersonal skills, and ability to drive growth and performance improvement. Duyuru • Aug 22
Saurashtra Cement Limited Announces Board Changes Saurashtra Cement Limited at its AGM held on August 21, 2024, announced approved the appointment of Mr. Viren Ajitkumar Merchant as Non-Executive, Independent Director of the Company, not liable to retire by rotation, to hold office for a term of five (5) consecutive years from 28 May, 2024 to 27 May, 2029. M. Viren Ajitkumar Merchant, has an experience over 17 years and has an expertise in Business Management. He is the Vice-Chairman & CEO of Encore Healthcare Pvt. Ltd. The company also approved change in designation of Mr. Jay M. Mehta from Executive Vice Chairman to Executive Chairman of the Company. Jay Mehta Shall Hold Office in the Capacity of "Executive Chairman" with Effect from 21 August, 2024 upto 31 December, 2025. Mr. Jay Mehta has about 3 Decades of Experience in Overall Management of the Company. Duyuru • Aug 21
Saurashtra Cement Limited Declares Final Dividend for the Financial Year Ended 31St March 2024 Saurashtra Cement Limited Declaration of final dividend of INR 1/- per share on 11,09,82,543 fully paid up Equity Shares of INR 10/- each as on record date for the Financial Year ended 31st March 2024 and confirmation of interim dividend of INR 1/- per share for the period ended 31st December 2023. New Risk • Aug 10
New major risk - Revenue and earnings growth Earnings have declined by 13% 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 13% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Significant insider selling over the past 3 months (₹25m sold). Duyuru • Jul 24
Saurashtra Cement Limited to Report Q1, 2025 Results on Aug 09, 2024 Saurashtra Cement Limited announced that they will report Q1, 2025 results on Aug 09, 2024 Reported Earnings • Jul 24
Full year 2024 earnings released: EPS: ₹5.11 (vs ₹1.99 loss in FY 2023) Full year 2024 results: EPS: ₹5.11 (up from ₹1.99 loss in FY 2023). Revenue: ₹17.7b (up 7.3% from FY 2023). Net income: ₹566.0m (up ₹785.9m from FY 2023). Profit margin: 3.2% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Duyuru • Jul 08
Saurashtra Cement Limited Announces Chief Financial Officer Changes, September 9, 2024 Saurashtra Cement Limited at its Board of Directors meeting held on July 8, 2024 approved appointment of Mr. Pradeep Mehta as Chief Financial Officer (CFO) and Key Managerial Personnel of the Company effective from September 9, 2024. Mr. Virendra Raj Mohnot, the existing Chief Financial Officer and Key Managerial Personnel is due for retirement effective from the closure of business hours on September 8, 2024. Mr. Pradeep Mehta has more than two decades of experience as a Chief Financial Officer with an entrepreneurial mind across diverse industries. He has a strong track record of managing Finance Accounts, Audits and Compliances, and possesses good personality and effective communication skills. His notable roles include Chief Financial Officer at Arihant Superstructures Ltd, Mambati Rolling Mills Tanzania, Jindal Steels, Jindal Power, Essar Steel, and Grasim. He holds Bachelor of Science (BSc) and is Chartered Accountant (CA) by profession. Mr. Pradeep Mehta has motivational leadership, strong interpersonal skills, and ability to drive growth and performance improvement. Date of cessation of Mr. Virendra Raj Mohnot: September 9, 2024. Recent Insider Transactions • Jun 22
MD & Executive Director recently sold ₹2.1m worth of stock On the 19th of June, Mohinderpal Gilotra sold around 15k shares on-market at roughly ₹137 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Mohinderpal has been a net seller over the last 12 months, reducing personal holdings by ₹3.5m. New Risk • Jun 14
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 8.0% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.0% average weekly change). Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹119, the stock trades at a trailing P/E ratio of 23.3x. Average trailing P/E is 30x in the Basic Materials industry in India. Duyuru • May 31
Saurashtra Cement Limited, Annual General Meeting, Aug 21, 2024 Saurashtra Cement Limited, Annual General Meeting, Aug 21, 2024. Reported Earnings • May 29
Full year 2024 earnings released: EPS: ₹5.11 (vs ₹1.99 loss in FY 2023) Full year 2024 results: EPS: ₹5.11 (up from ₹1.99 loss in FY 2023). Revenue: ₹18.0b (up 9.4% from FY 2023). Net income: ₹566.0m (up ₹785.9m from FY 2023). Profit margin: 3.1% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Duyuru • May 16
Saurashtra Cement Limited to Report Q4, 2024 Results on May 28, 2024 Saurashtra Cement Limited announced that they will report Q4, 2024 results on May 28, 2024 Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹124, the stock trades at a trailing P/E ratio of 34.7x. Average trailing P/E is 33x in the Basic Materials industry in India.