NSE: RAMCOCEM | BSE: 500260

Mid-range Performer

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1048.50 -11.70 (-1.10%)

33.02% Gain from 52W Low

272.3K NSE+BSE Volume

NSE 23 Dec, 2025 3:31 PM (IST)

24,775.3

Market Cap

High in industry

Beta 1Year

Low volatility

The Ramco Cements Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for RAMCOCEM, BSE:500260 The Ramco Cements Ltd.

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The Ramco Cements Ltd.

24 Nov 2025, 12:00AM

1048.50

-1.10%

Margins improve, but weak volumes and premium valuations constrain upside

Hold: The Ramco Cements Ltd.

Deven Choksey

The near-term outlook remains steady but moderated, with earnings likely to be range-bound as benefits from improved pricing and higher green-energy usage are partly offset by raw material cost pressures arising from the MBT levy.

The Ramco Cements Ltd. has an average target of 1076.43 from 7 brokers.

The Ramco Cements Ltd.

09 Nov 2025

1048.50

-1.10%

Costs offset volume beat

Hold: The Ramco Cements Ltd.

Target

ICICI Securities Limited

The Ramco Cements’ (TRCL) Q2FY26 EBITDA at INR 3.9bn (up 24% YoY/down 3% QoQ) stood just 4% ahead of our estimates despite a massive volume beat (being 13% ahead of forecast; up 10% QoQ though flattish YoY).

The Ramco Cements Ltd. has an average target of 1076.43 from 7 brokers.

The Ramco Cements Ltd.

05 Nov 2025

1048.50

-1.10%

Higher volume drives EBITDA beat

Neutral: The Ramco Cements Ltd.

Target

Motilal Oswal

The Ramco Cements’ (TRCL) 2QFY26 EBITDA grew 24% YoY to INR3.9b (12% beat), led by higher-than-estimated volume (5% beat) and lower-thanestimated opex/t. EBITDA/t rose 22% YoY (down 12% QoQ) to INR851 (6% beat).

The Ramco Cements Ltd. is trading above all available SMAs

The Ramco Cements Ltd.

17 Sep 2025

1048.50

-1.10%

RAMCO CEMENTS LIMITED

Accumulate: The Ramco Cements Ltd.

Recommendation Target

Geojit BNP Paribas

Kolimigundla, debottlenecking of existing plants, and additional grinding capacities. We value TRCL at 15x FY27E EV/EBITDA (vs. 3-year average of ~14x), arriving at a target price of 1,270, and downgrade the rating to Accumulate....

The Ramco Cements Ltd. has an average target of 1076.43 from 7 brokers.

The Ramco Cements Ltd.

21 Aug 2025

1048.50

-1.10%

The Ramco Cements

Buy: The Ramco Cements Ltd.

Target

ICICI Direct

Strong focus on scaling up construction chemical business: Company targets to scale this construction chemicals business revenue to Rs 2000 crore in the next 4-5 years (from Rs 210 crore revenue in FY25), with revenue share increasing to 12.5% by FY30E (from 2.5% in FY25), led by healthy demand in...

The Ramco Cements Ltd. is trading above all available SMAs

The Ramco Cements Ltd.

30 Jun 2025

1048.50

-1.10%

RAMCO CEMENTS LIMITED

Buy: The Ramco Cements Ltd.

Recommendation Target

Geojit BNP Paribas

of non-core assets will control debt, and deleveraging from cash accrual is expected in FY27. We value TRCL at 15x FY27E EV/EBITDA (3Yr avg=~14x) to arrive at a target price of Rs. 1,268, and upgrade to Buy rating....

The Ramco Cements Ltd. is trading above all available SMAs

The Ramco Cements Ltd.

31 May 2025

1048.50

-1.10%

The Ramco Cements Ltd Tgt 1125

Buy: The Ramco Cements Ltd.

Recommendation Target

BP Wealth

The company's strategic focus on monetizing non-core assets, with an estimated value of Rs, 1,000 crores, over the next year reflects its proactive approach to optimizing its asset base and strengthen- O/s Shares (Mn) ing its balance sheet. As part of the monetization plan, the company has already realized Rs. 460 Market Cap (INR bn) crores from these assets, with the remaining expected by July 2025. The company's decision should help reduce its debt and provide capital expenditure for the next set of expansions. We believe the Face Value (INR) allocation of these cash proceeds would be a key monitorable in the future. Ramco Cements has...

The Ramco Cements Ltd. has an average target of 1076.43 from 7 brokers.

The Ramco Cements Ltd.

23 May 2025, 12:00AM

1048.50

-1.10%

The Ramco Cements (SELL): No respite from competitive intensity; maintain SELL

Sell: The Ramco Cements Ltd.

Target

BOB Capital Markets Ltd.

Q4 revenue declined ~11%/21% YoY/QoQ, as price pressure impacted realisations by 4% and profitability severely (down by 83% YoY)

The Ramco Cements Ltd. has an average target of 1076.43 from 7 brokers.

The Ramco Cements Ltd.

23 May 2025, 12:00AM

1048.50

-1.10%

Earnings miss led by lower volume and higher opex/ton

Neutral: The Ramco Cements Ltd.

Motilal Oswal

TRCL’s 4QFY25 EBITDA was below estimates due to volume miss and higherthan-estimated opex/t. EBITDA declined ~23% YoY to INR3.2b (~31% miss) and EBITDA/t declined ~20% YoY to INR607 (est. INR782).

The Ramco Cements Ltd. has an average target of 1076.43 from 7 brokers.

The Ramco Cements Ltd.

05 May 2025

1048.50

-1.10%

Price hikes in the South and debt reduction aid recovery

Neutral: The Ramco Cements Ltd.

Target

Motilal Oswal

The Ramco Cements (TRCL) is expected to benefit from the sharp price hikes in the southern region along with a higher pace of consolidation in the region. The average cement price in the South has increased MoM by INR33/bag (~10%) in Apr’25.

The Ramco Cements Ltd. is trading above all available SMAs

Is The Ramco Cements Ltd. worth buying?

110 Votes:

Buy 80.91%

Sell 13.64%

Hold 5.45%

RESEARCH REPORTS

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