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STARCEMENT - Star Cement

📊 NSE: STARCEMENT 🏢 Cement - North India 📅 Last Updated: 12/14/2025 13:43

📢 Recent Corporate Announcements

Star Cement Subsidiary Starts Commercial Production at 2.0 MTPA Grinding Unit in Assam

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 20 Feb 2026, 11:52 AM

Star Cement Limited's subsidiary, Star Cement North East Limited, has successfully commenced commercial production at its new grinding unit in Cachar, Assam, as of February 20, 2026. The new facility adds a substantial 2.0 MTPA (Million Tonnes Per Annum) to the company's existing production capacity. This expansion is strategically located to serve the high-demand Northeast Indian market. The operationalization of this unit is expected to drive volume growth and enhance the company's regional market share in the near term.

Commencement of commercial production at a new 2.0 MTPA grinding unit in Cachar, Assam.
The project was executed through the subsidiary company, Star Cement North East Limited.
Operations officially began on February 20, 2026, following successful setup.
The expansion significantly boosts the company's total cement grinding capacity in its core Northeast market.

💡 Investors should consider this a positive development for long-term growth as it increases production capacity by 2.0 MTPA. Monitor the next few quarterly results to see the impact of this new capacity on revenue and EBITDA margins.

Star Cement Appoints Sunil Aggarwal as CSFO for Subsidiary Star Cement North East Ltd

🟢 POSITIVE ⭐ 4/10

MANAGEMENT 📅 16 Feb 2026, 04:02 PM

Star Cement Limited has appointed Mr. Sunil Aggarwal as the Chief Strategy & Finance Officer (CSFO) of its subsidiary, Star Cement North East Limited (SCNEL), effective February 16, 2026. Mr. Aggarwal is a Chartered Accountant and MBA with over 30 years of extensive experience across finance, strategy, and business operations. His background includes leadership roles in the building materials and FMCG sectors, which is expected to bolster the subsidiary's strategic initiatives. This appointment reflects the company's focus on strengthening the leadership team within its core North East operations.

Mr. Sunil Aggarwal appointed as Chief Strategy & Finance Officer (CSFO) of subsidiary SCNEL effective Feb 16, 2026
Brings over 3 decades (30+ years) of cross-functional experience in Finance, Sales, and Strategy
Educational credentials include Chartered Accountancy and an MBA in Strategy from MDI Gurgaon
Experience spans diverse industries including Building Materials, FMCG, Media, and Automobiles

💡 Investors should view this as a positive step towards professionalizing the management of a key subsidiary. No immediate portfolio action is required based on this senior management appointment.

Star Cement Q3 FY26 PAT Jumps to ₹74 Cr; EBITDA Per Ton Rises to ₹1,600

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 11 Feb 2026, 12:50 PM

Star Cement reported a robust performance for Q3 FY26, with revenue growing 22.4% YoY to ₹880 crores. The company's EBITDA per ton saw a significant jump to ₹1,600 compared to ₹1,000 in the previous year, driven by improved realizations in the Northeast market. Net profit surged to ₹74 crores from ₹9 crores YoY, despite a 28% drop in subsidy income. Management confirmed the commissioning of the Silchar plant in February 2026, which is expected to bolster future volumes and subsidy benefits.

Revenue increased to ₹880 crores from ₹719 crores YoY, while PAT surged to ₹74 crores from ₹9 crores.
EBITDA per ton improved significantly to ₹1,600 from ₹1,000 in the same quarter last year.
Total cement sales volume grew to 12.31 lakh tons, with Northeast sales accounting for 9.36 lakh tons.
Silchar plant commissioning is scheduled for February 2026, with subsidy benefits expected to kick in after 7-8 months.
Incentive income dropped 28% YoY to ₹33 crores following the GST rate reduction from 28% to 18%.

💡 Investors should consider the strong operational efficiency and upcoming capacity expansion at Silchar as positive long-term catalysts. The company remains a dominant player in the Northeast, though monitoring logistics costs and the impact of new regional capacity is advised.

Star Cement Releases Q3 FY26 Earnings Conference Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 09 Feb 2026, 06:55 PM

Star Cement Limited has officially released the audio recording of its investor conference call held on February 9, 2026. The call focused on the company's unaudited standalone and consolidated financial performance for the third quarter and the nine-month period ending December 31, 2025. This disclosure is a standard regulatory requirement under SEBI (LODR) Regulations to ensure transparency for all shareholders. The recording provides direct access to management's commentary regarding operational performance and the business outlook for the remainder of the fiscal year.

Audio recording of the Q3 and 9M FY26 earnings call is now publicly available.
The conference call was conducted on February 9, 2026, following the results announcement.
Compliance filing made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The recording link is hosted on the official Star Cement website for investor access.

💡 Investors should listen to the recording to understand management's perspective on regional demand in the Northeast and updates on capacity utilization. This is a routine update and does not require immediate portfolio changes.

Star Cement Declares Re. 1 Interim Dividend and Approves Promoter Reclassification

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 06 Feb 2026, 02:30 PM

Star Cement has declared a second interim dividend of 100% (Re. 1 per equity share) for FY 2025-26, with the record date set for February 12, 2026. The company also approved the reclassification of 29 members of the Chamaria Group, holding a 6.052% stake, from the Promoter to the Public category. Financially, the company recognized an exceptional item of ₹552.03 lakhs due to the implementation of new Labour Codes. The dividend is expected to be paid to eligible shareholders by March 8, 2026.

Declared 2nd interim dividend of Re. 1 per share (100% of face value) for FY 2025-26
Fixed February 12, 2026, as the Record Date for dividend eligibility
Approved reclassification of 29 Chamaria Group members (6.052% stake) to Public Category
Recognized an exceptional expense of ₹552.03 lakhs related to new Labour Code regulations
Dividend payment to be completed within 30 days of declaration, by March 8, 2026

💡 Investors interested in the dividend should ensure they hold the stock before the ex-dividend date to qualify for the Re. 1 per share payout. The promoter reclassification is a structural change that may improve the stock's public float and liquidity over time.

Star Cement Declares Re. 1 Interim Dividend and Approves Promoter Reclassification

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 06 Feb 2026, 02:26 PM

Star Cement has declared a second interim dividend of 100% (Re. 1 per share) for FY 2025-26, with the record date set for February 12, 2026. The company also approved the reclassification of 29 members of the Chamaria Group, who hold a combined 6.052% stake, from the 'Promoter' to the 'Public' category. Financially, the company recognized a one-time exceptional expense of ₹552.03 lakhs due to the impact of new Labour Codes. The board has also approved the unaudited financial results for the quarter and nine months ended December 31, 2025.

Declared 2nd Interim Dividend of Re. 1 per equity share (100% of face value) for FY 2025-26.
Fixed February 12, 2026, as the Record Date for determining dividend eligibility.
Approved reclassification of 29 Chamaria Group members holding 2,44,60,037 shares (6.052%) to Public category.
Recognized an exceptional item of ₹552.03 lakhs related to the implementation of four new Labour Codes.
Dividend payment to be completed on or before March 8, 2026.

💡 Investors should ensure they hold shares by the February 12 record date to qualify for the Re. 1 dividend. The promoter reclassification is a structural change that will increase the public float, potentially improving stock liquidity.

Star Cement Declares ₹1 Interim Dividend; Reclassifies 6.05% Promoter Stake

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 06 Feb 2026, 02:22 PM

Star Cement has declared a second interim dividend of ₹1 per share (100% of face value) for FY 2025-26. The Board has fixed February 12, 2026, as the record date, with payments to be completed by March 8, 2026. Additionally, the company approved the reclassification of 29 members of the Chamaria Group, who hold a combined 6.052% stake, from the Promoter to the Public category. The financial results also reflect an exceptional expense of ₹552.03 lakhs due to the implementation of new Labour Codes.

Declared 2nd interim dividend of ₹1 per equity share (100% of face value).
Record date for dividend eligibility fixed as February 12, 2026.
Approved reclassification of 29 Chamaria Group members holding 2,44,60,037 shares (6.052%) to Public category.
Recognized an exceptional item of ₹552.03 lakhs related to the impact of new Labour Codes.
Dividend payment to be completed within 30 days, on or before March 8, 2026.

💡 Investors looking to benefit from the ₹1 dividend should ensure they hold the shares before the record date of February 12, 2026. The promoter reclassification is a structural change and is unlikely to impact the company's operational fundamentals.

Star Cement Declares ₹1 Interim Dividend and Approves Promoter Reclassification

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 06 Feb 2026, 02:18 PM

Star Cement has declared a second interim dividend of ₹1 per equity share (100% of face value) for the financial year 2025-26. The company fixed February 12, 2026, as the record date for determining eligible shareholders, with payments to be completed by March 8, 2026. Alongside financial results, the board approved the reclassification of 29 members of the Chamaria Group, holding a 6.052% stake, from 'Promoter' to 'Public' category. Additionally, the company recognized an exceptional cost of ₹552.03 lakhs related to the implementation of new Labour Codes.

Declared 2nd interim dividend of ₹1 per share (100% of face value Re. 1).
Record date for dividend eligibility set for February 12, 2026.
Approved reclassification of 29 Chamaria Group members (6.05% stake) to Public category.
Recognized an exceptional item of ₹552.03 lakhs due to new Labour Code regulations.
Dividend payment to be completed on or before March 8, 2026.

💡 Investors interested in the dividend should ensure they hold the stock before the February 12 record date. The promoter reclassification is a positive step for corporate governance and may improve the stock's public float and liquidity.

Star Cement Schedules Q3 & 9MFY26 Earnings Conference Call for February 9, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 02 Feb 2026, 01:11 PM

Star Cement Limited has announced its earnings conference call for the third quarter and nine months ended December 31, 2025, to be held on February 9, 2026, at 4:00 PM IST. The call will feature senior management, including Deputy Managing Director Mr. Tushar Bhajanka and CFO Mr. Manoj Agarwal. This interaction follows the release of the company's unaudited financial results and is hosted by PhillipCapital (India) Private Limited. Investors can participate via DiamondPass or standard dial-in numbers provided for domestic and international regions.

Conference call scheduled for February 9, 2026, at 16:00 IST to discuss Q3 and 9MFY26 results.
Senior management representation includes Deputy Managing Director Tushar Bhajanka and CFO Manoj Agarwal.
The call is organized by PhillipCapital (India) Private Limited.
International dial-in access available for USA, UK, Singapore, and Hong Kong investors.

💡 Investors should monitor the call for management commentary on volume growth, pricing trends in the Northeast, and updates on ongoing expansion projects. No immediate trading action is required based on this scheduling announcement.

Star Cement Submits SEBI Regulation 74(5) Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Jan 2026, 04:09 PM

Star Cement Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by its Registrar and Transfer Agent (RTA), Maheshwari Datamatics Pvt. Ltd., covers the quarter ended December 31, 2025. It confirms that share certificates received for dematerialization were processed, mutilated, and cancelled within the stipulated time. This is a standard procedural filing required by all listed companies in India to ensure the integrity of shareholding records.

Compliance certificate submitted for the quarter ended December 31, 2025.
Issued by Registrar and Transfer Agent (RTA) Maheshwari Datamatics Pvt. Ltd.
Confirms that security certificates received for dematerialization were processed and cancelled.
Confirms that the names of the depositories have been substituted in the register of members.
Standard regulatory filing with no impact on business operations or financials.

💡 This is a routine administrative disclosure required by SEBI. No action is required from investors as it does not impact the company's fundamentals.

Star Cement to Close Trading Window from Jan 1, 2026, for Q3 FY26 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 24 Dec 2025, 03:43 PM

Star Cement Limited has announced the closure of its trading window starting January 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is ahead of the board's consideration of the un-audited financial results for the third quarter and nine months ending December 31, 2025. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the results are filed with the stock exchanges. The specific date for the board meeting to approve these results will be communicated at a later time.

Trading window closure effective from January 1, 2026.
Closure relates to the financial results for the quarter and nine months ending December 31, 2025.
Restriction applies to all Directors, Officers, and Designated Persons of the company.
Trading window will reopen 48 hours after the financial results are officially filed with NSE and BSE.

💡 This is a routine regulatory announcement and does not impact the company's fundamentals. Investors should await the announcement of the board meeting date for the actual Q3 earnings performance.

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💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue grew 8.06% YoY to INR 3,173.96 Cr in FY25. AAC block segment is expected to contribute INR 50-60 Cr annually, up from current minimal levels of INR 13-14 Cr.

Geographic Revenue Split

71% of sales volume is concentrated in North-East India, with the remaining 29% coming from Eastern India markets.

Profitability Margins

Consolidated PAT margin moderated to 5.3% in FY25 from 10.1% in FY24. Q2 FY26 showed recovery with highest-ever EBITDA, PBT, and PAT for a second quarter.

EBITDA Margin

Consolidated EBITDA margin was 18.56% (INR 589.21 Cr) in FY25, a slight 1.1% YoY increase. EBITDA per ton moderated to INR 1,223 in FY25 from INR 1,281 in FY24.

Capital Expenditure

The company is undergoing a sizeable expansion of approximately INR 3,000 Cr to increase cement capacity and market reach.

Credit Rating & Borrowing

CRISIL Stable rating maintained. The company has a robust financial profile with a low adjusted debt/networth ratio of 0.05x and high interest coverage of 46.7x.

⚙️ Operational Drivers

Raw Materials

Coal (80% sourced via FSA), Clinker (100 KT sold in Q2 FY26), and Fly Ash (used for AAC blocks).

Import Sources

Sourced primarily from North-East India (locational advantage) and Nagaland (coal).

Key Suppliers

80% of coal is procured through Fuel Supply Agreements (FSA) with government-linked entities; Nagaland local sources provide the balance.

Capacity Expansion

AAC plant capacity is 16,000 CBN (ramped to 18,900 CBN/month at 60% utilization). Cement expansion of INR 3,000 Cr is ongoing to scale beyond current regional limits.

Raw Material Costs

Fuel cost decreased to INR 1.25 per kcal in Q2 FY26 from INR 1.35 per kcal in the previous quarter, a 7.4% reduction.

Manufacturing Efficiency

AAC plant achieved 60% capacity utilization during the off-season; WHRS 12 MW ramp-up is expected to boost margins.

Logistics & Distribution

Average lead distance for distribution is 230 km, reflecting a localized regional focus.

📈 Strategic Growth

Expected Growth Rate

20%

Growth Strategy

Growth will be driven by a INR 3,000 Cr capacity expansion, ramping up the AAC block business to INR 60 Cr revenue, and increasing the premium cement sales ratio which improved to 13.1% in Q2 FY26.

Products & Services

PPC Cement, Premium Cement, AAC Blocks, and Clinker.

Brand Portfolio

Star Cement.

New Products/Services

AAC Blocks (Autoclaved Aerated Concrete) launched recently, expected to contribute 12-15% EBITDA margins.

Market Expansion

Diversifying into Eastern India to reduce the 71% volume concentration in the North-East.

Market Share & Ranking

Market leader in the North-East region of India.

🌍 External Factors

Industry Trends

The industry is shifting toward sustainability (WHRS) and consolidation; GST reduction to 18% is a major tailwind for the cement sector.

Competitive Landscape

Facing competition from pan-India players entering the North-East and fragmented small-scale operators.

Competitive Moat

Durable moat through a dominant dealer network in the North-East and locational advantages for raw material procurement that competitors from outside the region cannot easily replicate.