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RAMCOIND - Ramco Inds.

📊 NSE: RAMCOIND 🏢 Cement Products 📅 Last Updated: 12/14/2025 11:36

📢 Recent Corporate Announcements

Ramco Industries Q3 FY26 Consolidated Net Profit Rises 28% YoY to ₹112.07 Crore

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 11 Feb 2026, 02:17 PM

Ramco Industries reported a strong performance for the quarter ended December 31, 2025, with consolidated revenue growing 13.1% year-on-year to ₹388.63 crore. The consolidated net profit surged by 28.4% to ₹112.07 crore, up from ₹87.26 crore in the corresponding quarter of the previous year. This growth was largely supported by the Building Products segment, which saw revenue increase to ₹340.67 crore. The company's financial health remains robust with a standalone debt-equity ratio of 0.15.

Consolidated revenue from operations grew 13.1% YoY to ₹388.63 crore.
Consolidated net profit increased significantly by 28.4% YoY to ₹112.07 crore.
Building Products segment revenue stood at ₹340.67 crore, up from ₹301.59 crore YoY.
Consolidated EPS for the quarter rose to ₹12.94 from ₹10.26 in the previous year.
Standalone debt-equity ratio is maintained at a healthy 0.15.

💡 The strong double-digit growth in both revenue and profit, driven by the core building products division, makes this a positive result. Investors may consider holding or accumulating on dips given the strong balance sheet and earnings momentum.

Ramco Industries Q3 FY26 Results: Consolidated Net Profit Rises 26% YoY to ₹112.07 Crore

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 11 Feb 2026, 02:12 PM

Ramco Industries reported a steady performance for the quarter ended December 31, 2025, with consolidated revenue growing 13% YoY to ₹388.63 crore. The consolidated net profit saw a significant jump of 26% to ₹112.07 crore, largely supported by the share of profit from associates. On a standalone basis, the Building Products segment remains the primary driver, contributing ₹248.08 crore to the revenue. The company maintains a healthy balance sheet with a low debt-to-equity ratio of 0.15.

Consolidated Net Profit increased by 26% YoY to ₹112.07 crore in Q3 FY26.
Total Consolidated Revenue from operations grew 13% YoY to ₹388.63 crore.
Standalone Building Products segment revenue rose 11.7% to ₹248.08 crore from ₹222.11 crore YoY.
Standalone Net Profit grew 28% YoY to ₹16.59 crore compared to ₹12.93 crore in the previous year.
Maintained a strong financial position with a low Debt-Equity ratio of 0.15 and Interest Service Coverage Ratio of 8.03.

💡 The company demonstrates consistent growth in its core building products segment and continues to benefit from its associate holdings. Investors may consider holding the stock given the stable margins and low leverage, while monitoring raw material costs.

Ramco Industries Settles West Bengal Entry Tax Dispute for ₹2.21 Crore

🟢 POSITIVE ⭐ 6/10

LEGAL 📅 30 Jan 2026, 01:16 PM

Ramco Industries has successfully resolved a long-standing litigation regarding West Bengal Entry Tax through the Settlement of Dispute (SOD) Scheme. The company paid ₹2.21 crore, representing 75% of the original tax demand, to settle the case. This resolution results in a waiver of the remaining 25% tax (₹74 lakh) and a complete waiver of interest and penalties which had reached ₹7.29 crore as of June 2025. The company has withdrawn its appeal from the Supreme Court, effectively closing this legal liability.

Settled entry tax dispute for the period June 2013 to June 2017 via West Bengal SOD Scheme
Paid ₹2.21 crore to settle a potential liability that included ₹7.29 crore in accumulated interest
Achieved a waiver of ₹74 lakh in principal tax and 100% waiver of interest and penalties
Supreme Court appeal withdrawn following the deemed finality of the settlement on November 27, 2025

💡 This is a positive development as it clears a decade-old legal overhang and saves the company significant interest costs. Investors should note the reduction in contingent liabilities on the balance sheet.

Ramco Industries Reports Nil Physical Share Transfer Re-lodgement Requests for Dec 2025-Jan 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 29 Jan 2026, 03:28 PM

Ramco Industries Limited has filed a compliance report regarding the re-lodgement of transfer requests for physical shares as per SEBI requirements. For the period of December 2025 and the first week of January 2026, the company reported zero requests received or processed. This filing is a standard regulatory procedure to ensure transparency in share transfer processes. There are no pending physical share transfer issues reported for these specific periods.

Zero requests received for physical share transfer re-lodgement in December 2025
Zero requests received for the period between January 1, 2026, and January 6, 2026
Compliance report submitted in accordance with SEBI Circular dated July 2, 2025
Average time taken for processing was not applicable due to nil requests

💡 This is a routine regulatory filing with no impact on the company's fundamentals or stock performance. Investors should continue to monitor the company's core business performance and quarterly earnings.

Ramco Industries to Consider Q3 FY26 Results on February 11, 2026

🟡 NEUTRAL ⭐ 4/10

BOARD_MEETING 📅 28 Jan 2026, 03:37 PM

Ramco Industries has scheduled a board meeting for February 11, 2026, to review and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. This is a standard regulatory announcement ahead of the quarterly earnings release. The company also confirmed that the trading window for designated persons will remain closed until February 13, 2026. Investors should look for performance updates in the building materials and textile segments during the upcoming results.

Board meeting scheduled for February 11, 2026, to approve Q3 and 9M FY26 results
Trading window for insiders remains closed until February 13, 2026
Meeting to be held at the Corporate Office in Chennai
Compliance maintained under SEBI Listing Obligations and Disclosure Requirements Regulations 29 and 50

💡 No immediate action is required as this is a routine notification. Investors should track the actual earnings release on February 11 to assess the company's financial health.

Ramco Industries Submits SEBI Reg 74(5) Compliance Certificate for Q3 FY2025-26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 12 Jan 2026, 05:19 PM

Ramco Industries Limited has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended December 31, 2025. The company's Registrar and Share Transfer Agent, Cameo Corporate Services Limited, confirmed that no shares were received for dematerialization during this period. Furthermore, the report indicates that there were no requests for rematerialization of shares. This filing is a standard regulatory requirement for listed companies in India to maintain transparency in shareholding records.

Compliance report for the quarter ended December 31, 2025, submitted to BSE and NSE.
Zero shares were processed for dematerialization during the quarter.
No requests for rematerialization were received or processed during the period.
Certificate issued by Registrar and Share Transfer Agent, Cameo Corporate Services Limited.

💡 This is a routine administrative filing with no impact on company fundamentals. No action is required from investors based on this announcement.

Ramco Industries Announces Trading Window Closure from Jan 1, 2026 for Q3 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Dec 2025, 02:25 PM

Ramco Industries Limited has announced the closure of its trading window for all designated persons and their relatives starting January 1, 2026. This is a standard regulatory requirement under SEBI Insider Trading regulations preceding the announcement of financial results. The closure pertains to the unaudited standalone and consolidated financial results for the quarter and nine months ending December 31, 2025. The trading window will reopen 48 hours after the board meeting results are officially declared.

Trading window closure effective from January 1, 2026
Closure is in anticipation of Q3 and nine-month financial results ending December 31, 2025
Window to remain closed until 2 trading days after the board meeting date
Applies to Directors, designated persons, and their immediate relatives

💡 This is a routine compliance notification and does not impact company fundamentals. Investors should wait for the announcement of the board meeting date to review the upcoming quarterly performance.

Ramco Industries Reports Nil Physical Share Transfer Re-lodgement Requests for November 2025

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 18 Dec 2025, 11:09 AM

Ramco Industries Limited has submitted its monthly report regarding the re-lodgement of transfer requests for physical shares for November 2025. The report indicates that zero requests were received, processed, approved, or rejected during this period. This filing is in compliance with the SEBI circular dated July 2, 2025. As there were no transactions, the average processing time is not applicable. This is a standard regulatory disclosure with no material impact on the company's operations.

Zero requests for re-lodgement of physical share transfers received in November 2025
No requests were processed, approved, or rejected during the reporting month
Compliance maintained with SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/97
Average time taken for processing is marked as Not Applicable due to nil activity

💡 No action is required as this is a routine regulatory filing. Investors should continue to monitor the company's core business performance and quarterly earnings.

CRISIL reaffirms Ramco Industries' ₹100 Cr Commercial Paper rating at A1+

🟡 NEUTRAL ⭐ 5/10

REGULATORY 📅 01 Dec 2025, 03:47 PM

CRISIL Ratings has reaffirmed its 'Crisil A1+' rating on Ramco Industries Limited's ₹100 Cr commercial paper. The rating indicates a very strong degree of safety regarding timely payment of financial obligations, carrying the lowest credit risk. This rating is valid for 60 calendar days from December 1, 2025, for the issuance of the commercial paper. The rating remains valid throughout the life of the Commercial Paper Programme with a maximum maturity of one year, unless revised.

Crisil A1+ rating reaffirmed for Commercial Paper of ₹100 Cr
Rating valid for 60 calendar days from 1.12.2025 for issuance
Maximum maturity of one year for the Commercial Paper Programme
Ref. No.Cr.RatingInt./CRISIL/Reg30 1.12.2025

💡 The reaffirmation of the credit rating indicates stability in the company's short-term financial obligations. Investors should monitor any further rating revisions by CRISIL.

View All RAMCOIND Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue grew 10.5% YoY to INR 1,663 Cr in FY2025. The building products segment remains the primary revenue driver, while the textile segment faces pressure with subdued demand and drop in realisations. H1 FY2026 revenue was flat at INR 892 Cr compared to INR 893 Cr in H1 FY2025.

Geographic Revenue Split

India operations contribute approximately 79.5% of revenue, while Sri Lankan subsidiaries (Sri Ramco Lanka and Sri Ramco Roofings Lanka) contributed INR 182.71 Cr in H1 FY2026, representing ~20.5% of consolidated revenue.

Profitability Margins

PAT margin improved from 4.8% in FY2024 to 5.6% in FY2025. Operating margins are projected to remain stable at 10.5-11.0% for FY2026, driven by healthy performance in the building segment despite textile segment pressure.

EBITDA Margin

Operating profitability remained at ~11% in FY2025. Adjusted debt to EBITDA ratio improved to 1.31 times in FY2025 from 1.44 times in FY2024, reflecting better core profitability relative to debt levels.

Capital Expenditure

Planned capex of INR 185 Cr for a new 58,000 MTPA Fibre Cement Board plant in Maksi, Madhya Pradesh. Total medium-term capex is estimated at INR 200 Cr, funded by INR 135 Cr bank debt and internal accruals.

Credit Rating & Borrowing

Long-term rating reaffirmed at [ICRA]AA- (Stable) and short-term at [ICRA]A1+. NCD coupon rate is 7.6% for INR 100 Cr issuance maturing in Feb 2028. Commercial Paper rated Crisil A1+.

⚙️ Operational Drivers

Raw Materials

Key raw materials are asbestos fibre and cement. Asbestos fibre is a critical input for the FC sheet segment, which is the company's major profit contributor.

Import Sources

India imports 100% of its asbestos requirement. The company sources asbestos from major asbestos-producing nations such as Brazil and Russia.

Capacity Expansion

Planned expansion of 58,000 MTPA for Fibre Cement Boards at the Maksi, Madhya Pradesh plant, expected to commence operations in H2 FY2027.

Raw Material Costs

Margins are highly vulnerable to fluctuations in asbestos fibre and cement prices. The company has limited flexibility to pass on cost hikes due to intense competition in the FC sheet industry.

Manufacturing Efficiency

Average utilization of working capital bank limits was ~30% of drawing power during the 12 months through August 2025, indicating efficient liquidity management.

Logistics & Distribution

The company faces competition from established players with manufacturing units closer to high-growth markets in Northern and Eastern India, impacting distribution efficiency.

📈 Strategic Growth

Expected Growth Rate

10.50%

Growth Strategy

Growth is targeted through the INR 185 Cr expansion in the CSB segment in Madhya Pradesh to capture Northern and Eastern Indian markets. The company is also leveraging its strong financial flexibility from a ~INR 5,000 Cr investment portfolio in listed group companies to fund expansions and strategic share purchases.

Products & Services

Asbestos-based fibre cement (FC) sheets for roofing, Calcium Silicate Boards (CSB), and cotton yarn (textiles).

Brand Portfolio

Ramco Hilux, Ramco Hicem, Ramco Greencot.

New Products/Services

Expansion into the Calcium Silicate Board (CSB) segment with a new 58,000 MTPA plant to diversify the product mix.

Market Expansion

Targeting Northern and Eastern India through the new Maksi (MP) plant to compete with regional players.

Market Share & Ranking

Second-largest company in the Ramco Group after Ramco Cements Ltd.

Strategic Alliances

Part of the Ramco Group; holds a 23.08% stake in Ramco Cements Ltd and 19.07% in Ramco Systems Ltd as of March 2025.

🌍 External Factors

Industry Trends

The AC roofing industry remains the mainstay but faces long-term disruption risks from regulatory bans on asbestos and a consumer shift toward substitute steel products.

Competitive Landscape

Intense competition from established FC sheet manufacturers and substitute products like galvanized steel roofing.

Competitive Moat

Durable competitive advantage derived from exceptional financial flexibility provided by an unpledged INR 5,000 Cr investment portfolio in listed group entities, allowing for low-cost debt access.

Macro Economic Sensitivity

Highly sensitive to rural spending and agricultural income, which drive the demand for AC roofing sheets.

Consumer Behavior

Demand is primarily driven by rural housing and industrial roofing requirements.

Geopolitical Risks

Vulnerable to changes in mining policies or environmental regulations in asbestos-exporting countries.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to pollution control norms and international asbestos mining/usage regulations. India currently imports its entire asbestos requirement under existing trade norms.

Environmental Compliance

Exposed to regulatory risks regarding the manufacture and use of asbestos; any ban would necessitate a complete shift in the business model.

⚠️ Risk Analysis

Key Uncertainties

Potential for a total ban on asbestos usage (High impact), volatility in raw material prices (Moderate impact), and rural demand cyclicality (Moderate impact).