Ramco Cements Ltd, established in 1957 and headquartered in Chennai, Tamil Nadu, is a prominent player in India’s cement industry. The company is primarily involved in the manufacture of cement, ready mix concrete (RMC), and dry mortar products, serving the domestic market. Ramco operates integrated cement plants, grinding units, ready mix concrete plants, dry mortar plants, and packing units across India. Its product portfolio includes ordinary Portland cement, blended cement, RMC, and dry mortar, which are used in various construction projects. Additionally, the company engages in the generation and sale of electricity through wind farms, reflecting its commitment to sustainability. Ramco Cements Ltd is known for its focus on quality, innovation, and environmental responsibility, making it a key contributor to the Indian construction materials sector.
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | |
| Promoters + | 42.11% | 42.11% | 42.29% | 42.29% | 42.29% |
| FIIs + | 7.85% | 7.94% | 7.43% | 7.38% | 6.61% |
| DIIs + | 33.37% | 32.92% | 32.24% | 31.14% | 30.87% |
| Government + | 3.39% | 3.39% | 3.39% | 3.39% | 3.39% |
| Public + | 13.29% | 13.64% | 14.66% | 15.81% | 16.85% |
| No. of Shareholders | 47,105 | 46,993 | 56,327 | 76,165 | 76,447 |
The shareholding pattern of Ramco Cements has demonstrated several notable trends between September 2023 and September 2024. The promoters’ stake has remained consistent at 42.29%, reflecting stable control over the company. Foreign Institutional Investors (FIIs) reduced their holding from 7.85% to 6.61%, indicating a slight decline in foreign investor interest. Similarly, Domestic Institutional Investors (DIIs) have seen a decrease in their stake from 33.37% to 30.87%, which could reflect broader market shifts or adjustments in institutional strategies. The government’s holding remained steady at 3.39%, showing no significant change in its position.
On the other hand, public shareholding has risen significantly, from 13.29% in September 2023 to 16.85% by September 2024. This increase suggests growing confidence among retail investors in Ramco Cements’ performance. The number of shareholders also surged, with an impressive jump from 47,105 in September 2023 to 76,447 in September 2024, indicating a marked rise in retail participation. This shift towards a broader, more diverse investor base could signal positive sentiment toward the company and its future prospects.
News on Ramco Cements
In October 2024, Ramco Cements Ltd made significant strides in improving its financial position by raising ₹376 crore through the sale of non-core assets. This move is part of the company’s ongoing efforts to reduce its net debt and strengthen its balance sheet. A major portion of the raised funds, ₹326 crore, was utilized to repay existing debt. This strategic debt reduction is aimed at enhancing the company’s financial health and enabling it to focus more effectively on its core business operations, including cement manufacturing and expansion of its market presence. This move reflects Ramco Cements’ commitment to maintaining a strong financial foundation while managing its debt levels prudently.
Below are the trading platforms that you can use to purchase Ramco Cements shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| December 2024 | 1,044.05 | 907.87 |
In 2024, the maximum and minimum prices of Ramco Cements are expected to reflect market trends and investor sentiment. By December 2024, the maximum price of Ramco Cements is anticipated to reach ₹1,044.05, while the minimum price is projected to be around ₹907.87.
| When | Maximum Price | Minimum Price |
| January 2025 | 1,054.49 | 811.15 |
| February 2025 | 1,065.15 | 819.34 |
| March 2025 | 1,087.51 | 836.55 |
| April 2025 | 1,076.75 | 828.27 |
| May 2025 | 1,045.39 | 804.14 |
| June 2025 | 1,092.43 | 840.33 |
| July 2025 | 1,071.01 | 823.85 |
| August 2025 | 1,104.13 | 849.33 |
| September 2025 | 1,117.38 | 859.52 |
| October 2025 | 1,146.43 | 881.87 |
| November 2025 | 1,175.09 | 903.92 |
| December 2025 | 1,227.97 | 944.59 |
As we step into January 2025, Ramco Cements’ price is expected to range between ₹811.15 and ₹1,054.49. February may see prices from ₹819.34 to ₹1,065.15, while March could touch ₹836.55 to ₹1,087.51. Moving to April and May, the prices are projected at ₹828.27 to ₹1,076.75 and ₹804.14 to ₹1,045.39, respectively. In June and July, the range may be ₹840.33 to ₹1,092.43 and ₹823.85 to ₹1,071.01. By August and September, prices could rise to ₹849.33 to ₹1,104.13 and ₹859.52 to ₹1,117.38. October may reach ₹881.87 to ₹1,146.43, while November projects ₹903.92 to ₹1,175.09. Finally, as we step into December 2025, prices could peak between ₹944.59 and ₹1,227.97.
| When | Maximum Price | Minimum Price |
| January 2026 | 1,264.81 | 972.93 |
| February 2026 | 1,233.19 | 948.61 |
| March 2026 | 1,257.86 | 967.58 |
| April 2026 | 1,283.53 | 987.33 |
| May 2026 | 1,270.82 | 977.55 |
| June 2026 | 1,302.59 | 1,001.99 |
| July 2026 | 1,277.05 | 982.34 |
| August 2026 | 1,316.54 | 1,012.73 |
| September 2026 | 1,342.87 | 1,032.98 |
| October 2026 | 1,377.79 | 1,059.84 |
| November 2026 | 1,412.23 | 1,086.33 |
| December 2026 | 1,447.54 | 1,113.49 |
| When | Maximum Price | Minimum Price |
| January 2027 | 1,462.02 | 1,124.63 |
| February 2027 | 1,499.50 | 1,153.46 |
| March 2027 | 1,557.98 | 1,198.45 |
| April 2027 | 1,527.43 | 1,174.95 |
| May 2027 | 1,482.95 | 1,140.73 |
| June 2027 | 1,549.68 | 1,192.06 |
| July 2027 | 1,519.29 | 1,168.69 |
| August 2027 | 1,566.28 | 1,204.83 |
| September 2027 | 1,621.10 | 1,247.00 |
| October 2027 | 1,663.25 | 1,279.42 |
| November 2027 | 1,704.83 | 1,311.41 |
| December 2027 | 1,747.45 | 1,344.19 |
| When | Maximum Price | Minimum Price |
| January 2028 | 1,782.40 | 1,371.08 |
| February 2028 | 1,828.10 | 1,406.23 |
| March 2028 | 1,899.40 | 1,461.08 |
| April 2028 | 1,862.16 | 1,432.43 |
| May 2028 | 1,807.92 | 1,390.71 |
| June 2028 | 1,889.28 | 1,453.29 |
| July 2028 | 1,852.23 | 1,424.79 |
| August 2028 | 1,909.52 | 1,468.86 |
| September 2028 | 1,976.35 | 1,520.27 |
| October 2028 | 2,027.73 | 1,559.80 |
| November 2028 | 2,078.43 | 1,598.79 |
| December 2028 | 2,130.39 | 1,638.76 |
| When | Maximum Price | Minimum Price |
| January 2029 | 2,173.00 | 1,671.54 |
| February 2029 | 2,228.71 | 1,714.40 |
| March 2029 | 2,315.63 | 1,781.26 |
| April 2029 | 2,270.23 | 1,746.33 |
| May 2029 | 2,204.11 | 1,695.47 |
| June 2029 | 2,303.29 | 1,771.76 |
| July 2029 | 2,258.13 | 1,737.02 |
| August 2029 | 2,327.97 | 1,790.74 |
| September 2029 | 2,409.45 | 1,853.42 |
| October 2029 | 2,472.09 | 1,901.61 |
| November 2029 | 2,533.89 | 1,949.15 |
| December 2029 | 2,597.24 | 1,997.88 |
| When | Maximum Price | Minimum Price |
| January 2030 | 2,649.19 | 2,037.84 |
| February 2030 | 2,717.11 | 2,090.09 |
| March 2030 | 2,823.08 | 2,171.60 |
| April 2030 | 2,767.73 | 2,129.02 |
| May 2030 | 2,687.11 | 2,067.01 |
| June 2030 | 2,808.03 | 2,160.03 |
| July 2030 | 2,752.97 | 2,117.67 |
| August 2030 | 2,838.12 | 2,183.17 |
| September 2030 | 2,937.45 | 2,259.58 |
| October 2030 | 3,013.83 | 2,318.33 |
| November 2030 | 3,089.17 | 2,376.29 |
| December 2030 | 3,166.40 | 2,435.69 |
As we move into 2030, Ramco Cements’ share prices are expected to start in January between ₹2,037.84 and ₹2,649.19, gradually rising through the months. By March, prices may range from ₹2,171.60 to ₹2,823.08, while mid-year projections for June stand at ₹2,160.03 to ₹2,808.03. Later in September, prices are anticipated to range from ₹2,259.58 to ₹2,937.45. As we move towards December, the year is projected to close with prices between ₹2,435.69 and ₹3,166.40.
Financial Condition of Ramco Cements
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 5,389 | 5,291 | 6,004 | 8,157 | 9,376 | 8,927 |
| Expenses + | 4,241 | 3,733 | 4,713 | 6,971 | 7,811 | 7,477 |
| Operating Profit | 1,149 | 1,558 | 1,291 | 1,186 | 1,565 | 1,450 |
| OPM % | 21% | 29% | 22% | 15% | 17% | 16% |
| Other Income + | 34 | 30 | 28 | 33 | 39 | 38 |
| Interest | 73 | 88 | 113 | 241 | 416 | 439 |
| Depreciation | 317 | 357 | 402 | 506 | 646 | 671 |
| Profit before tax | 792 | 1,144 | 803 | 472 | 542 | 378 |
| Tax % | 24% | 33% | -11% | 28% | 27% | |
| Net Profit + | 605 | 784 | 882 | 315 | 356 | 272 |
| EPS in Rs | 25.65 | 33.22 | 37.3 | 13.31 | 15.23 | 11.7 |
| Dividend Payout % | 10% | 9% | 8% | 15% | 16% |
The financial performance of Ramco Cements from March 2020 to the trailing twelve months (TTM) ending in March 2024 reveals significant trends across key metrics. Sales have shown consistent growth, increasing from ₹5,389 crore in March 2020 to ₹9,376 crore in March 2024, indicating strong market demand and operational expansion. Despite this growth, operating profit margins (OPM) have fluctuated, peaking at 29% in March 2021 but declining to 16% in the TTM, reflecting rising expenses. Operating profit itself rebounded to ₹1,565 crore in March 2024 after a dip in March 2023, demonstrating improved efficiency.
Other income has remained relatively stable, but increasing interest costs, from ₹73 crore in March 2020 to ₹439 crore in the TTM, have impacted profitability. Net profit declined from ₹882 crore in March 2022 to ₹356 crore in March 2024, mirroring challenges in managing higher costs. Earnings per share (EPS) also decreased from ₹37.3 in March 2022 to ₹15.23 in March 2024. Despite these pressures, the company has steadily increased its dividend payout ratio, rising from 10% in March 2020 to 16% in March 2024, reflecting a commitment to rewarding shareholders while navigating financial challenges.
FAQs
What is the current market capitalization of Ramco Cements?
Ramco Cements current market capitalization stands at ₹22,328 crore.
As of November 24th, 2024, Ramco Cements share price is ₹945.
Ramco Cements of India expected share price targets for 2025 range from ₹804.14 to ₹1,227.97.
Ramco Cements of India forecasted share price targets for 2030 range from ₹2,037.84 to ₹3,166.40.
Also Read
- Schaeffler India Share Price Target 2025, 2026 to 2030
- Welspun Corp Share Price Target 2025, 2026 to 2030
- Paradeep Phosphates Share Price Target 2025, 2026 to 2030
Conclusion
In conclusion, Ramco Cements Ltd has demonstrated resilience and adaptability in a competitive market. The company’s stable shareholding pattern reflects strong promoter confidence, though institutional holdings have seen a slight decline. Retail participation has notably increased, indicating growing investor confidence. Financially, Ramco Cements has shown consistent growth in sales and operating profit over recent years, supported by strategic debt reduction efforts such as the ₹376 crore raised through asset sales in 2024.
Looking ahead, the share price projections indicate a promising upward trajectory, with a potential maximum price of ₹3,166.40 by December 2030. This growth is underpinned by the company’s focus on innovation, sustainability, and efficient operations, making it a key player in India’s cement industry and a strong prospect for investors.
What did we learn?
