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1. At a Glance
Saurashtra Cement posted a ₹17 Cr PAT on ₹424 Cr revenue in Q1 FY26. That’s better than last year’s disaster-fest, but with a P/E of 139 and ROE barely above “bank savings interest,” the only thing really cemented here is investor confusion.
2. Introduction with Hook
Imagine if your dusty neighborhood cement godown got listed on BSE, slapped on some ISO certifications, and started quoting at 139x earnings. That’s Saurashtra Cement for you. A mid-cap with more rollercoasters than Adlabs Imagica—except here, the thrill comes from whether OPM will be 4% or -14% next quarter.
Stat Slaps:
3-Year Profit CAGR: -52%
ROCE: 1.78%. Lower than your FD returns.
Promoter Holding: Falling like monsoon cement prices.
3. Business Model (WTF Do They Even Do?)
Cement. Paint. Hope.
They sell:
Cement types: OPC, PPC, PSC (just missing PVC for bingo)
Brands: Hathi Cement (because elephants never forget… their margins?) and Sidhee Cement
Paints division: Snowcem Paints (yes, they make walls pretty too)
Logistics: Road, rail, sea, and a prayer.
Target states: Gujarat, Maharashtra, Rajasthan, MP. Basically, the West + some heat.
