Saurashtra Cement Limited (SAURASHCEM)

Construction Materials · Cement & Cement Products · NSE · Updated 19 July 2026

₹62.45 ↓ 33.32% (1Y)

🎯 Key Takeaways

Saurashtra Cement Limited is in a strategic transition phase, marked by leadership changes in its Paints Division and ongoing tax litigation, while navigating volatile financial performance. The company remains focused on integrating its acquired Paints Business and managing operational volatility in the core cement segment.
Revenue grew 27.4% QoQ to ₹378 in Q3FY25.
⚠️ Ongoing litigation in tax appeals for FY 2019-20 and 2020-21, with potential for further disputes and contingent liabilities.

Market Cap

₹687

P/E Ratio

131.4

Div Yield

0.00%

Promoter

0.0%

✨ Ask AI About SAURASHCEM 📊 Interactive Charts

📖 The Story

Saurashtra Cement Limited is in a strategic transition phase, marked by leadership changes in its Paints Division and ongoing tax litigation, while navigating volatile financial performance. The company remains focused on integrating its acquired Paints Business and managing operational volatility in the core cement segment.

📰 What's Happening

Recent developments center on leadership transitions and regulatory updates. On 11 July 2026, the company disclosed a partial tax appeal resolution for FY 2020-21, with plans to file a second appeal to the Income Tax Appellate Tribunal, Rajkot, citing no material financial impact. Earlier, on 19 June 2026, Ms. Sonali Sanas was appointed CEO of the Paints Division, effective 16 August 2026, following the resignation of Surender Bhatia on 18 May 2026 due to personal reasons. These changes reflect a deliberate succession strategy in a key growth segment. Additionally, a SEBI-mandated trading window closure was announced on 26 June 2026 ahead of Q1FY25 results, signaling routine compliance without operational significance.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	497	386	296	378
Operating Profit	70	28	-35	11
OPM %	9.0%	6.0%	-13.4%	2.1%
Net Profit	31	10	-31	-4
EPS	₹2.80	₹0.89	₹-2.83	₹-0.39

The company's financial trajectory shows significant volatility, with Q3FY25 revenue at ₹378 crore, down from ₹497 crore in Q4FY24, and operating profit turning negative at ₹11 crore compared to ₹70 crore previously. This decline follows a strong Q4FY24 performance, suggesting seasonality or demand softness. Notably, Q1FY25 delivered robust results with ₹386 crore revenue and ₹10 crore net profit, but Q2FY25 saw a sharp drop to ₹296 crore revenue and ₹31 crore net loss, indicating inconsistent execution or market pressures. The company has not yet provided forward guidance linking these trends to specific operational initiatives.

🔮 Management Outlook & What's Next

Management has not provided explicit forward guidance on revenue recovery or margin improvement in the available filings. However, the appointment of Ms. Sonali Sanas as CEO of the Paints Division signals intent to strengthen leadership in a recently acquired business segment, which may be critical for diversification. The partial tax appeal resolution removes immediate liability but underscores ongoing compliance risks. No commentary on future financial targets or growth drivers was found in the disclosed materials.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Cement & Cement Products

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
UltraTech Cement Limited	3.38 L Cr	44.1	12.3%	10.8%	0.33
Grasim Industries Limited	2.00 L Cr	21.1	4.9%	4.6%	1.88
Ambuja Cements Limited	1.07 L Cr	23.3	4.6%	7.7%	0.00
SHREE CEMENT LIMITED	90,094	73.6	—	—	—
JK Cement Limited	42,219	58.6	—	—	—
Dalmia Bharat Limited	32,402	57.5	—	—	—
ACC Limited	25,592	12.0	11.0%	10.4%	0.00
The Ramco Cements Limited	21,650	57.2	—	—	—
JSW Cement Limited	16,793	0.0	—	—	—
The India Cements Limited	12,401	-56.7	—	—	—

🔗 Peer Stock Analyses

ULTRACEMCO GRASIM AMBUJACEM SHREECEM JKCEMENT

⚠️ Risk Factors

1. Ongoing litigation in tax appeals for FY 2019-20 and 2020-21, with potential for further disputes and contingent liabilities. 2. Volatility in core cement profitability, as evidenced by sharp sequential declines in OPM and net profit. 3. Leadership transition risk in the Paints Division, despite succession planning, which may delay strategic execution. 4. Market sensitivity to cyclical demand in construction materials, exacerbated by macroeconomic headwinds affecting infrastructure spending.

📋 Recent Filings

🧠 Analyst's Read

Saurashtra Cement is navigating a pivotal phase defined by leadership changes and financial inconsistency, with limited visibility into a clear recovery path. Investors should monitor execution in the Paints Division under new leadership and any resolution to tax litigation, as these will shape near-term sentiment and operational focus.

Based on filing content and financial data. Not a recommendation.

Read the full analysis

Quarterly trends, balance sheet, cash flow, peer comparison, and AI insights — sign up free to unlock.

2 free AI queries per day.

✨ Deep Dive with AI on SAURASHCEM

Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-19.

📡 Get AI alerts when SAURASHCEM files new disclosures

Track SAURASHCEM filings, board meetings, and corporate actions. Free email alerts at 5 PM.

Track SAURASHCEM — Free

Free account · 2 AI queries/day