NSE: INDIACEM | BSE: 530005

Expensive Performer

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399.35 -7.00 (-1.72%)

Near 52W High of ₹412.80

228.4K NSE+BSE Volume

NSE 18 Sep, 2025 3:31 PM (IST)

12,375.7

Market Cap

Above industry Median

0.4

Beta 1Year

Very Low volatility

India Cements Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for INDIACEM, BSE:530005 India Cements Ltd.

India Cements Ltd.

17 Jun 2019

399.35

-1.72%

The India Cements Ltd: Weakness Continues to Persist

Sell: India Cements Ltd.

Target

Karvy

Weakness Continues to Persist: Performance continues to remain at the lower end despite improvement inRealizations: The topline for Q4FY19 stood at Rs.15640 Mn as against Rs.13978 Mn during Q4FY18, increased by 12% YoY basis, this was due to rise in cement prices during Feb 2019, by Rs. 50-60 per bag but cost pressure did not ease, the raw material cost raised by 17% YoY basis.

Number of FII/FPI investors increased from 169 to 177 in Jun 2025 qtr.

India Cements Ltd.

29 May 2019

399.35

-1.72%

India Cement

Results Update: India Cements Ltd.

ICICI Securities Limited

India Cement reported a mixed set of Q4FY19 numbers with topline, volumes beating our estimates but missing estimates on the profitability front. Revenues grew 11.9% YoY to | 1564 crore led by 7.8% YoY growth in volumes to 3.33 MT (vs. I-direct estimate of 3.15 MT). Realisations were at ~| 4,700/t, up 3.8% YoY (vs. I-direct estimate of ~ | 4,645/t). Topline includes | 20.25 crore pertaining to subsidy receivable from Rajasthan government (sanctioned to Trinetra Cement that has been merged with India Cement). EBITDA margins witnessed a 95 bps YoY expansion to 12.3% (vs....

India Cements Ltd. has gained 22.03% in the last 3 Months

India Cements Ltd.

28 May 2019

399.35

-1.72%

India Cements - 4QFY19 Result Update

India Cements Ltd.

Reliance Securities

India Cements Ltd. has an average target of 280.00 from 1 broker.

India Cements Ltd.

16 Feb 2019

399.35

-1.72%

The India Cements Ltd: Sustainability in the Recent Price Hike May Improve the Margins

Sell: India Cements Ltd.

Recommendation Target

Karvy

Severe Competition in the south had its toll on the operating performanceof the company: The cement sales in the current quarter was at 13.16 Bn ascompared to 12.13 Bn in last year's quarter, registering growth of around 8.5% and the overall volume stood at 29.58 lakh tons for the quarter, as compared to 27.26 lakh tons.

India Cements Ltd. has an average target of 280.00 from 1 broker.

India Cements Ltd.

11 Feb 2019

399.35

-1.72%

India Cements - 3QFY19 Result Update

India Cements Ltd.

Reliance Securities

India Cements Ltd. has gained 22.03% in the last 3 Months

India Cements Ltd.

11 Feb 2019

399.35

-1.72%

Higher cost leads to miss on margins

Neutral: India Cements Ltd.

Target

Motilal Oswal

11 February 2019 ICEMs volumes grew 9% YoY to 2.96mt (in-line) in 3QFY19. This, however, lagged industry growth, as sales were affected by cyclone in Tamil Nadu. Blended realizations declined 1.3% QoQ (flat YoY) to INR4,450/t (in-line). Net sales, thus, increased 8.5% YoY to INR13.16b. Cost/t increased 4% YoY, led by an increase in power & fuel cost/t. Blended EBITDA/t declined 26% YoY (-9% QoQ) to (1) Primary market of Tamil Nadu was affected by the cyclone Gaja, which devastated some districts in Nov18. (2) Prices of fuel have started easing after increasing steeply in 3QFY19, the favourable impact of which will be felt over the coming quarters. Volumes grew 13% YoY, with sales increasing 8% YoY. For 4QFY19, we expect volumes to increase 1% YoY, with sales growth of 2% YoY; EBITDA is expected to increase by 14% YoY and PAT to decline by 5% YoY.

India Cements Ltd. has gained 49.65% in the last 6 Months

India Cements Ltd.

16 Nov 2018

399.35

-1.72%

The India Cements Ltd: Higher Volumes Likely to Drive Margins

Hold: India Cements Ltd.

Karvy

Sales Volume driven by increase in demand and better capacity utilization: The company operated at 77% of its capacity utilization as comparedto 70% in the same quarter of the previous year.

Number of FII/FPI investors increased from 169 to 177 in Jun 2025 qtr.

India Cements Ltd.

12 Nov 2018

399.35

-1.72%

India Cement

Buy: India Cements Ltd.

Target

ICICI Securities Limited

India Cements' Q2FY19 results were operationally ahead of our estimates. However, PAT stayed below our expectations mainly on account of higher interest costs due to forex loss. Revenues increased...

India Cements Ltd. has gained 49.65% in the last 6 Months

India Cements Ltd.

13 Aug 2018

399.35

-1.72%

India Cements - 1QFY19 Result Update

Buy: India Cements Ltd.

Target

Reliance Securities

India Cements Ltd. is trading above all available SMAs

India Cements Ltd.

28 May 2018

399.35

-1.72%

India Cement

Buy: India Cements Ltd.

Target

ICICI Securities Limited

Better sand availability in Tamil Nadu, higher infra spend to drive growth The recent stay order by the Supreme Court on ban on river sand mining in Tamil Nadu is expected to improve construction activity in coming quarters. The company has 38% of its capacity in Tamil Nadu. Hence, this will be a key beneficiary of the pick-up in demand. Further, apart from Tamil Nadu, a major driver of cement demand in the south market is expected to be the AP and Telangana market. These markets are expected to increase ~15.0% YoY mainly led by higher government spending by both AP, Telangana markets...

India Cements Ltd. has an average target of 280.00 from 1 broker.

Is India Cements Ltd. worth buying?

318 Votes:

Buy 70.75%

Sell 17.61%

Hold 11.64%

RESEARCH REPORTS

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