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Saurashtra Cement Limited (SAURASHCEM) Fair Value & Analysis

Basic Materials · IN · Market cap ₹6.5B (≈ $68.6M) · ISIN INE626A01014

What is Saurashtra Cement Limited really worth?

SC Saurashtra Cement Limited SAURASHCEM · BSE
Price₹57.58
Fair Value₹22.07
Upside−61.7%
Quality49/100

Below-average quality, and trading another 161% above our fair value of ₹22.07.

As of Aug 23, 2026, the fair value of Saurashtra Cement Limited is ₹22.07 per share against a price of ₹57.58, so the fair value sits 62% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Low debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +20.0 %/yr)
!Thin margins · 0.4% net margin
!Narrow moat 27/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range ₹16.52 – ₹28.70

Fair value as of: Aug 23, 2026

From 23 valuation models · updated 14 days ago

Share price −16.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹28.70). The favourable scenario is already priced in.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

₹143.38 ₹47.21 Fair Value ₹22.07 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.

How to read this chart

60‑month range ₹47.21 – ₹143.38 · fair‑value band ₹16.52 – ₹28.70 · the ₹57.58 price screens above the ₹22.07 fair value. Dashed = 300-day average. As of Aug 23, 2026.

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Analysis

Saurashtra Cement Limited (SAURASHCEM) currently trades at ₹57.58, while our model-based Fair Value estimate is ₹22.07, implying the stock looks roughly 160.9% overvalued today. The Quality Score stands at 49/100 (below-average quality), in the Basic Materials sector. Bull case: the Asset-Based group reads highest at a median of ₹57.89 per share, and 2 of the 23 models we run sit above the ₹57.58 price. Bear case: the Economic Profit group reads lowest at ₹8.23, and 21 of the 23 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Saurashtra Cement Limited generated revenue of ₹17.0B at a net margin of 0.4%. Revenue grew 7.8% year over year. It earns a return on equity of 1.5%. Net debt stands at ₹275M. Fundamentals as of Aug 23, 2026

Our scenario range runs from ₹16.52 (bear case) to ₹28.70 (bull case); at ₹57.58, 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 54% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −56% fair-value upside, at −62%, SAURASHCEM screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹0.2614 per share, which is 0.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF ₹12.15 ₹18.19 ₹28.31 79
Growth DCF ₹12.07 ₹17.53 ₹26.32 78
Residual Income ₹58.94 ₹54.92 ₹40.76 76
All 23 models by family
DCF Models
FCF DCF ₹12.15 ₹18.19 ₹28.31 79
Owner Earnings ₹36.59 ₹61.49 ₹103.23 74
5Y Revenue Exit ₹11.37 ₹16.58 ₹23.64 73
5Y EBITDA Exit ₹28.63 ₹52.20 ₹82.33 73
5Y P/E Exit ₹17.07 ₹28.34 ₹41.34 70
10Y Revenue Exit ₹11.35 ₹16.32 ₹23.91 67
10Y EBITDA Exit ₹22.76 ₹41.86 ₹71.99 66
10Y P/E Exit ₹15.26 ₹24.75 ₹38.41 63
Earnings-Based
Graham-Dodd ₹8.81 ₹41.07 ₹56.43 64
Lynch FV ₹10.85 ₹15.50 ₹20.14 61
PEG = 1.0 ₹10.85 ₹15.50 ₹20.14 57
EPV ₹7.70 ₹8.23 ₹8.69 74
Multiples
P/E Multiple ₹16.52 ₹22.03 ₹27.53 63
P/S Multiple ₹16.52 ₹22.03 ₹27.53 58
P/B Multiple ₹16.52 ₹22.03 ₹27.53 55
EV/EBIT ₹12.12 ₹14.71 ₹17.31 66
EV/EBITDA ₹39.70 ₹51.49 ₹63.28 67
EV/Revenue ₹11.08 ₹13.97 ₹16.87 54
Asset-Based
NCAV (Graham) ₹43.21 ₹57.89 ₹86.41 54
Growth DCF
Growth DCF ₹12.07 ₹17.53 ₹26.32 78
Economic Profit
Residual Income ₹58.94 ₹54.92 ₹40.76 76
ROIC Compounder ₹7.70 ₹8.23 ₹8.69 72
Growth Earnings
Growth-Adj P/E ₹15.45 ₹22.07 ₹28.70 67

Widest divergence: Asset-Based (₹57.89) versus Economic Profit (₹8.23). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 96.0
P/S ratio 0.83 P/E × margin
EPS (TTM) ₹0.6000 price ÷ EPS = P/E 96.0
Dividend yield 1.7% payout 164%
Net margin 0.9% FY2026
Return on equity 1.5% TTM
More key figures
Profitability
Return on assets (EBIT) 1.2% avg 5y
Operating margin 2.1% TTM
Growth
Revenue (TTM) ₹17.0B TTM
Revenue growth (YoY) +7.8% 3y avg +0.6%
EPS growth (YoY) −45.7%
Balance sheet & cash flow
Free cash flow ₹71.1M FY2026
Net debt ₹275M FY2026 · ≈ 3.9 yrs of FCF

Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 50 · Market factors (momentum, volatility) 34

Profitability 47
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 54
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 6
Distance to the 52-week high (market factor)
Net Issuance 40
Buybacks instead of dilution

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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Saurashtra Cement Limited manufactures and sells cement and paints in India and internationally. It operates in two segments, Cement and Clinker, and Paints. The company offers ordinary Portland cement, Portland Pozzolana cement, and SRPC cement, as well as clinker products. It sells its cement products under the HATHI brand name.

Full company description

Saurashtra Cement Limited manufactures and sells cement and paints in India and internationally. It operates in two segments, Cement and Clinker, and Paints. The company offers ordinary Portland cement, Portland Pozzolana cement, and SRPC cement, as well as clinker products. It sells its cement products under the HATHI brand name. The company also exports its products. Saurashtra Cement Limited was incorporated in 1956 and is based in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Saurashtra Cement Limited reported revenue of ₹16.7B in FY2026 versus ₹14.4B in FY2022, a compound +3.7%/yr. Reported net income was ₹144M in FY2026, compounding −11.1%/yr from FY2022.

Growth Quality 76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹16.7B
Latest YoY
+8.4%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.6%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+20.0%
Avg. revenue growth/yr (7Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+15.4%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−29.0% · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−30.7%
Dividend yield1.7%
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.14.3% (2021) → 0.5% (2026) · falling
Worst earnings drop137% (2023) (loss year, drop beyond 100%) · in INR
Revenue +3.7%/yr
FY22 ₹14.4B
FY23 ₹16.3B
FY24 ₹17.7B
FY25 ₹15.4B
FY26 ₹16.7B
Net income −11.1%/yr
FY22 ₹231M
FY23 −₹220M
FY24 ₹566M
FY25 ₹69.8M
FY26 ₹144M

SAURASHCEM screens 161% overvalued. Compare with CRH plc →

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Cite: Fair Value Calculator (2026). "Saurashtra Cement Limited Fair Value". https://www.fairvalue-calculator.com/stock/SAURASHCEM.BSE

Peer Group

Building Materials · 258 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 48 · Below median
Fair Value upside −11% · Above median
Return on equity (TTM) 2% · Below median
Return on assets 0% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 2% · Below median
Revenue growth 8% · Above median
Dividend yield (TTM) 1.7% · Below median
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Building Materials median · lower = cheaper

P/E (TTM) 96.0× · Pricier than 75% of peers
P/B 0.67× · Cheaper than median
P/S (TTM) 0.38× · Cheaper than median
P/FCF 1.0× · Cheaper than median
EV/EBITDA 15.1× · Pricier than 75% of peers

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Building Materials stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).

Stock Price Fair Value vs Fair Value
CRH plc CRH $96.05 $69.69 −27%
Holcim AG HOLN CHF 71.04 CHF 20.00 −72%
Vulcan Materials Company VMC $259.69 $114.48 −56%
UltraTech Cement Limited ULTRACEMCO ₹11,408 ₹4,718 −59%
Heidelberg Materials AG HEI €166.60 €167.96 +1%
Martin Marietta Materials, Inc MLM $543.90 $215.31 −60%
China Jushi Co 600176 ¥40.56 ¥13.22 −67%
Amrize AG AMRZ CHF 37.65 CHF 29.67 −21%
Grasim Industries Limited GRASIM ₹3,293 ₹1,245 −62%
CEMEX, S.A. CX $11.24 $11.31 +1%

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Frequently asked questions

Is Saurashtra Cement Limited (SAURASHCEM) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of ₹22.07 versus a price of ₹57.58, about −62% upside (overvalued).
What is the fair value of SAURASHCEM?
Our model-based fair value for Saurashtra Cement Limited is ₹22.07 (as of Aug 23, 2026), built from audited fundamentals. The current price: ₹57.58.
What is the quality score of SAURASHCEM?
Saurashtra Cement Limited has a Quality Score of 49/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Saurashtra Cement Limited (SAURASHCEM)?
Our model-based price target is the fair value of ₹22.07 (as of Aug 23, 2026) from 23 valuation models. Cautious scenario ₹16.52, optimistic scenario ₹28.70. It is a calculation from audited fundamentals, not an analyst target.
What is the Saurashtra Cement Limited stock forecast for 2026?
Our models put fair value at ₹22.07, about −62% upside versus a price of ₹57.58 (overvalued). Cautious scenario ₹16.52, optimistic scenario ₹28.70. The calculation is refreshed regularly with new filings.
What is the revenue of Saurashtra Cement Limited (SAURASHCEM)?
Saurashtra Cement Limited reported trailing-twelve-month revenue of about ₹17.0B (latest available figure, as of Aug 23, 2026).
What is the net profit margin of SAURASHCEM?
The net profit margin of Saurashtra Cement Limited is about 0.4%, meaning it keeps roughly 0.4% of revenue as net income. Based on the latest reported figures.
Does Saurashtra Cement Limited pay a dividend?
Saurashtra Cement Limited currently shows a dividend yield of about 1.71% relative to its recent price (as of Aug 23, 2026).
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