Ramco Industries Limited (532369) Fair Value & Analysis
Industrial Goods · IN · Market cap ₹16.0B
Fair value as of: Aug 13, 2026
From 26 valuation models · updated 5 days ago
A solid business, but screening 13% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (₹302.39). The favourable scenario is already priced in.
- Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
- The models converge in a tight band (₹266.06 to ₹302.39), unusually little disagreement for a valuation.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range ₹117.57 – ₹390.70 · fair‑value band ₹266.06 – ₹302.39 · the ₹345.70 price screens above the ₹302.39 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Ramco Industries Limited (532369) currently trades at ₹345.70, while our model-based Fair Value estimate is ₹302.39, implying the stock looks roughly 12.5% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Industrial Goods sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Ramco Industries Limited generated revenue of ₹10.0B at a net margin of 19.9%. Revenue grew 18.5% year over year. It earns a return on equity of 6.1%. The stock trades on a trailing P/E of 8.5 (as of Jul 4, 2026). Fundamentals as of Aug 13, 2026
Our scenario range runs from ₹266.06 (bear case) to ₹302.39 (bull case); at ₹345.70, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 13% below its 52-week high and 50% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrial Goods peers we cover trades at -14% fair-value upside, at -13%, 532369 screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: Growth Earnings (₹391.06) versus Dividend Discount (₹11.51). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 56 · Market factors (momentum, volatility) 53
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Ramco Industries Limited engages in the building product, textile, and power generation businesses in India. It offers fiber cement roofing sheets and calcium silicate boards; and various accessories and metal framing products.
Full company description
Ramco Industries Limited engages in the building product, textile, and power generation businesses in India. It offers fiber cement roofing sheets and calcium silicate boards; and various accessories and metal framing products. The company also provides design and material consultancy, project execution, site quality assurance, and dry construction methods training services; and invests in securities. In addition, it operates 15 wind mills with an installed capacity of 16.73 MW in Tirunelveli and Coimbatore Districts of Tamil Nadu; Chitradurga and Hassan Districts in Karnataka; and Kutch District in Gujarat. Ramco Industries Limited was incorporated in 1965 and is headquartered in Chennai, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Ramco Industries Limited reported revenue of ₹16.6B in FY2025 versus ₹12.1B in FY2021, a compound +8.2%/yr. Reported net income was ₹1.8B in FY2025, compounding −10.2%/yr from FY2021.
532369 screens 13% overvalued. Compare with Shree Cement Limited →
Peer Group
Industrial Goods · 22 stocks
How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “General Building Materials” was too small, so the broader sector is used.)
Valuation Multiples vs Industrial Goods median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more General Building Materials stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Shree Cement Limited 500387 | ₹25,410 | ₹4,548 | -82% |
| Carborundum Universal Limited 513375 | ₹1,152 | ₹194.24 | -83% |
| JK Lakshmi Cement Limited 500380 | ₹549.95 | ₹305.50 | -44% |
| Deccan Cements Limited 502137 | ₹548.45 | ₹91.42 | -83% |
| Patels Airtemp (India) Limited 517417 | ₹281.05 | ₹425.54 | +51% |
| Pacific Industries Limited 523483 | ₹137.35 | ₹121.22 | -12% |
| Sicagen India Limited 533014 | ₹59.23 | ₹92.58 | +56% |
| Keerthi Industries Limited 518011 | ₹43.52 | ₹21.42 | -51% |
| Solid Stone Company 513699 | ₹25.50 | ₹22.00 | -14% |
| Barak Valley Cements Limited 532916 | ₹40.75 | ₹39.64 | -3% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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