T

The India Cements Limited

INDIACEMNSE
Market snapshot · 2026-08-10 20:56 UTC

392.35

₹-5.80 (-1.46%)

MARKET CAP

₹18.24K Cr

STOCK P/E

131.2x

52W HIGH

₹485.80

52W LOW

₹342.35

BOOK VALUE

₹326.70

EPS

₹2.99

ROE

SECTOR

Materials

DEBT/EQUITY

12.89

VOLUME

1.17L

P/B RATIO

1.20x

PEG RATIO

Sector

Materials

Themes

CementBirla Group
E
Earnings
₹478.55₹447.49₹416.43₹385.36₹354.30VolumeEEEEAug '25Sep '25Nov '25Jan '26Mar '26Apr '26Jun '26Aug '26

AI Summary

✦ Clartha

Forecast

Analyst targets, estimate history, and probabilistic forward ranges for INDIACEM.

4.00 analysts

Price Forecast

Current
₹392.35
High Target
₹600.00
▲ +52.9%
Median Target
₹405.00
▲ +3.2%
Low Target
₹350.00
▼ -10.8%
Now₹392.35High ₹600.00Median ₹405.00Low ₹350.00Aug '25Now12M Target
Price history (1Y)
Analyst target range
4 analysts

Probabilistic Range

Probabilistic lognormal cone using 1Y realized volatility and analyst-target drift when available.

Time horizonRange ()Probability
3M₹323.79 - ₹490.1980%
6M₹301.72 - ₹542.3880%
12M₹275.51 - ₹631.4480%
Realized vol: +32.4% · Drift: +11.4%

Revenue Forecast

₹ Cr
Jun '26Current₹1,019.0
Sep 2026 ETrend estimate range
High₹1,308.9Base₹1,212.0Low₹1,115.0
Sep '25: ₹1,117.0 · Dec '25: ₹1,114.0 · Mar '26: ₹1,229.0 · Jun '26: ₹1,019.0 · Sep '26: ₹1,212.0 · Dec '26: ₹1,208.7
Sep '25Dec '25Mar '26Jun '26Sep '26 EDec '26 E1,117.01,114.01,229.01,019.01,212.01,208.7
PastCurrentTrend estimate: Low / Base / High

EPS Forecast

₹ / share
Jun '26Current₹0.86
Sep 2026 ETrend estimate range
High₹-0.27Base₹-0.24Low₹-0.21
Sep '25: ₹-0.22 · Dec '25: ₹0.10 · Mar '26: ₹1.77 · Jun '26: ₹0.86 · Sep '26: ₹-0.24 · Dec '26: ₹0.11
Sep '25Dec '25Mar '26Jun '26Sep '26 EDec '26 E-0.220.101.770.86-0.240.11
PastCurrentTrend estimate: Low / Base / High
Market Intelligence

Multi-factor synthesis of 5 key dimensions

Overall Outlook
Neutral
67%
Analyst Consensus
Unavailable

From 4 analysts

Mean upside+12.1%

Fundamentals

Strong

Fundamentals institutional score is 83 using growth durability 83.0.

Valuation

Fairly valued

Valuation institutional score is 50 using relative multiple z-scores where peer dispersion is available.

Analyst Consensus

Neutral

Analyst View institutional score is 52 using mean target upside 12.1%; dispersion penalty 22.7; recommendation breadth from available consensus.

Technical Structure

Strong Trend

Technicals institutional score is 90 using EMA-20 continuation within 5% tolerance; VCP range/volume contraction proxy.

Market Sentiment

Neutral backdrop

Recent news flow is balanced or not decisive enough to tilt the tape. Based on 1 recent ticker-linked news items.

Signal Summary

Market intelligence remains Neutral. fundamentals and technical structure provide support, while valuation and analyst consensus remain considerations.

Composite weights: Fundamentals 25%, Valuation 20%, Analyst Consensus 20%, Technical Structure 20%, Market Sentiment 15%.

Fundamentals StrongValuation Fairly valuedAnalyst Consensus NeutralTechnical Structure Strong TrendMarket Sentiment Neutral backdrop

Key Data Points

Mean Target Price440 target
Mean Upside+12.1%
Technical Score90%
Fundamental Score83%
Data CoverageHigh

Important Note: This is market intelligence, not investment advice. Always conduct your own research and consider your financial goals and risk tolerance.

Valuation Metrics

Trading 12.4% above historical median. Valuation is rising — currently in the strongly overvalued zone (z-score: +1). Confidence: 78%.

Live forward EPS implies next-12-month EPS of ₹16.80. Applying the stock's normalized valuation corridor produces a fair range of ₹1,422.46 to ₹2,146.37, with base value near ₹1,990.63 (+407.4% vs current price).

Forward Valuation Outlook

Live forward estimate anchored to the company's historical valuation corridor.

Below normalized range

Forward EPS

₹16.80

Forward P/E

23.4x

Base Fair Value

₹1,990.63

Fair Range

₹1,422.46 - ₹2,146.37

Upside To Base

+407.4%

Estimate Source

Live forward EPS

P/E
Strongly Overvalued

5Y Average

93.73

Current

133.16

Overvalued

127.76

Undervalued

84.67

EV/EBITDA
Strongly Overvalued

5Y Average

20.60

Current

28.84

Overvalued

26.88

Undervalued

15.30

P/B
Fair

5Y Average

1.16

Current

1.20

Overvalued

1.34

Undervalued

0.99

Peers & Comparison

Sector: Materials · Theme: Cement

Cement Peers8 peers
Avg P/E: 29.8x
CompanyRev. GrowthMarginP/Evs Avg52W Perf.
+8.9%3.3%
31.2x
Fair
+5% vs avg
-22.4%
JK CEMENT LIMITED
JKCEMENTCement
+28.0%6.6%
44.1x
Premium
+48% vs avg
-22.7%
ACC LIMITED
ACCCement
-3.8%7.6%
13.4x
Undervalued
-55% vs avg
-23.7%
JSW CEMENT LIMITED
JSWCEMENTCement
+13.1%-11.4%
-8.1%
+1.6%-9.5%
-15.8%
STAR CEMENT LIMITED
STARCEMENTCement
+4.3%9.7%
21.7x
Undervalued
-27% vs avg
-23.4%
PRISM JOHNSON LIMITED
PRSMJOHNSNCement
-0.8%2.5%
49.3x
Premium
+65% vs avg
-22.2%
JK LAKSHMI CEMENT LTD
JKLAKSHMICement
+9.4%5.3%
18.8x
Undervalued
-37% vs avg
-37.5%
WHY THESE PEERS

THE INDIA CEMENTS LIMITED trades at a premium (131.2x vs peer avg 29.8x), implying higher growth or quality expectations from the Cement cohort. Peers include NUVOCO VISTAS CORP LTD, JK CEMENT LIMITED, ACC LIMITED — selected based on business model, industry classification, market cap similarity, and business theme alignment.

Financials

Real statement data for revenue, earnings quality, conversion, and balance-sheet coverage. Monetary values are shown in Rs crore.

Latest revenue

₹1.02K CrJun 2026

Latest net profit

₹27 CrJun 2026

Latest EPS

₹0.86Jun 2026

Net margin

15.0%Jun 2026

Performance

Bars show revenue and net profit. The line shows net margin.

Rs crore + margin %
Q1 '26Q2 '26Q3 '26Q4 '26Q1 '270.0%4.0%8.0%12.0%16.0%-450 Cr0.00 Cr450 Cr900 Cr1.35K Cr
  • Revenue
  • Net income
  • Net margin %

Earnings

Revenue is shown in crores. EPS is rupees per share.

Rs crore + Rs/share
Q1 '26Q2 '26Q3 '26Q4 '26Q1 '270.00 Cr350 Cr700 Cr1.05K Cr1.40K Cr₹-1₹0₹1₹1₹2
  • Revenue
  • EPS

Revenue to profit conversion

Bridge from operating numbers to profit for the latest reported period.

Rs crore
RevenueExpensesDepreciationOtheradjustmentsOperatingprofitOther incomeInterestOtheradjustmentsProfitbefore taxTax & otherNet Profit0.00 Cr300 Cr600 Cr900 Cr1.20K Cr

Latest reported period: Jun 2026

Debt level and coverage

Debt, cash and free cash flow compared on the same crore scale.

Rs crore
Annual view
Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026-5.00K Cr0.00 Cr5.00K Cr10.00K Cr15.00K Cr
  • Debt
  • Free cash flow
  • Cash & equivalents

Results

MetricJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales +1,3931,2221,0821,2459721,0079021,1981,0251,1171,1141,2291,019
Expenses +1,3881,2141,0331,1991,0031,1701,0911,1979431,0361,0351,073864
Operating Profit584947-31-164-1881828179155156
OPM %0.4%0.7%4.5%3.8%-3.2%-16%-21%0.1%8%7%7%13%15%
Other Income +76434124716-180239132110-22
Interest58596064827374382732242326
Depreciation53535757555455757474757672
Profit before tax-99-99-24-3378-274-497-89-10-1116636
Tax %-24%-18%-31%-11%27%-13%-18%-29%-25%-39%-156%17%25%
Net Profit +-75-81-17-2957-240-409-64-8-735527
EPS in Rs-2.43-2.63-0.53-0.951.85-7.74-13.21-2.06-0.24-0.220.101.770.86
Raw PDF

All values in ₹ Crores unless otherwise stated. Source: Screener Master (Standalone).

Shareholding Pattern

HolderJun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters +81.49%75.60%75.00%75.00%75.00%
FIIs +2.97%3.11%3.41%3.49%3.40%
DIIs +5.76%12.25%12.80%12.90%12.60%
Public +9.77%9.03%8.80%8.62%9.00%
Others0.01%0.01%
Jun 2026
Promoters +
FIIs +
DIIs +
Public +

Events Timeline

Annual Report FY26

FY2026PDFCompany Reports Open

Announcement under Regulation 30 (LODR)-Change in Directorate

Aug 06, 2026PDFCompany Reports Open

Announcement under Regulation 30 (LODR)-Earnings Call Transcript

Jul 23, 2026PDFCompany Reports Open

Concall Transcript - FY2027

Jul 23, 2026PDFKnowledge Base Open

Disclosure W.R.T. Demand Notices Received From District Collector, Tirunelveli, Tamil Nadu

Jul 22, 2026PDFCompany Reports Open