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Top 10 Cement Stocks in India – 2024

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Best Cement Stocks in India 2023

Last Updated on Mar 5, 2024 by Anjali Chourasiya

Best cement stocks listed on NSE

Based on the market cap 

NameMarket Cap (Rs. in cr.)Close Price (Rs.)PE Ratio
UltraTech Cement Ltd292,066.6510,106.3557.68
Grasim Industries Ltd155,171.612,234.1522.73
Ambuja Cements Ltd122,633.45617.1547.47
Shree Cement Ltd92,503.1025,730.3072.80
ACC Ltd50,617.122,695.6557.19
Dalmia Bharat Ltd38,549.482,027.0537.25
J K Cement Ltd34,778.444,463.9081.58
Ramco Cements Limited19,871.01848.2063.18
Birla Corporation Ltd12,694.331,645.30313.44
Nuvoco Vistas Corporation Ltd12,041.52335.60759.24

Note: The list of top cement stocks is derived from Tickertape Stock Screener as of 4th March 2024 and filtered using the following parameters

  • Sector – Cement 
  • Market Cap – Sort from highest to lowest 

Based on the net profit margin

NameMarket Cap (Rs. in cr.)Close Price (Rs.)PE RatioNet Profit Margin (%)
Andhra Cements Ltd894.0796.200.9492.27
Navkar Urbanstructure Ltd109.524.9885.5610.00
Star Cement Ltd8,463.54210.3534.188.98
Pokarna Ltd1,558.42505.6023.688.90
Ramco Industries Ltd1,961.88220.6516.018.27
UltraTech Cement Ltd292,066.6510,106.3557.687.94
Shree Digvijay Cement Co Ltd1,558.71105.6526.847.92
Dalmia Bharat Ltd38,549.482,027.0537.257.27
Shree Cement Ltd92,503.1025,730.3072.806.94
Ambuja Cements Ltd122,633.45617.1547.476.51

Note: The list of top cement stocks is derived from Tickertape Stock Screener as of 4th March 2024 and filtered using the following parameters

  • Sector – Cement 
  • Net Profit Margin – Sort from highest to lowest

Based on return on equity

NameMarket Cap (Rs. in cr.)Close Price (Rs.)PE RatioReturn on Equity (%)
Shree Digvijay Cement Co Ltd1,558.71105.6526.8418.23
Pokarna Ltd1,558.42505.6023.6813.85
JK Lakshmi Cement Ltd11,081.58943.0530.9013.35
Sahyadri Industries Ltd461.17404.6012.4311.61
Star Cement Ltd8,463.54210.3534.1810.80
UltraTech Cement Ltd292,066.6510,106.3557.689.66
J K Cement Ltd34,778.444,463.9081.589.55
Shri Keshav Cements and Infra Ltd472.84264.60161.938.31
HIL Ltd2,112.022,807.4521.758.06
Orient Cement Ltd4,786.76230.1538.987.85

Note: The list of top cement stocks is derived from Tickertape Stock Screener as of 4th March 2024 and filtered using the following parameters


  • Sector – Cement 
  • Return on Equity – Sort from highest to lowest

Based on 5-yr CAGR

NameMarket Cap (Rs. in cr.)Close Price (Rs.)PE Ratio5Y CAGR (%)
Andhra Cements Ltd894.0796.200.9478.22
J K Cement Ltd34,778.444,463.9081.5843.59
Shri Keshav Cements and Infra Ltd472.84264.60161.9341.74
Barak Valley Cements Ltd135.2960.7025.9230.56
Mangalam Cement Ltd1,986.13796.60115.8828.60
Shiva Cement Ltd989.2450.02-12.2928.17
Keerthi Industries Ltd114.72146.60-15.8526.98
Birla Corporation Ltd12,694.331,645.30313.4426.65
Orient Cement Ltd4,786.76230.1538.9825.19
Pokarna Ltd1,558.42505.6023.6824.85

Note: The list of top cement stocks is derived from Tickertape Stock Screener as of 4th March 2024 and filtered using the following parameters

  • Sector – Cement 
  • 5-yr CAGR – Sort from highest to lowest

Cement is a critical component of the construction sector, providing the building blocks for everything from homes and commercial buildings to infrastructure projects such as roads, bridges, and dams. The cement industry is one of India’s important industries, contributing 7% of the world’s cement capacity. 

Growth of the Indian cement industry 

When you look at the Indian cement industry’s place in the world, our country stands as 2nd largest cement producer globally and also 3rd largest consumer. During the COVID-19 pandemic, the cement sector was one of the sectors that got affected due to reduced construction activities. 

However, in 2021 the demand and supply got picked up. In the Union Budget 2023, Finance Minister Nirmala Sitharaman announced a 33% increase in capital investment outlay to Rs. 10 lakh cr. After the announcement, cement sector stocks were positively impacted, and companies like Ultratech Cement were positioned as one of the top buys. In India, cement consumption is expected to reach 550–600 MT by 2025, driven mainly by the massive need for commercial, industrial and residential development. 

Is it worth investing in the cement industry stocks?

With the increase in population, the demand for housing, commercial and industrial buildings keeps increasing. Even the Government of India has several developments planned concerning infrastructure and housing projects like PM Awas Yojana. This shows that the demand for cement is never-ending. However, as an investor, you should not just look at the industry’s growth but also the company’s growth along with your investment objective and risk appetite. 

Factors affecting the best cement share prices

  1. Economic growth: Cement industry shares are closely tied to the overall economic health of a country. As infrastructure development and construction activities increase with economic growth, the demand for cement rises, potentially boosting cement company share prices.
  2. Government policies and infrastructure spending: Government initiatives aimed at enhancing infrastructure, such as roads, buildings, and bridges, directly impact the cement industry. Increased public spending on infrastructure projects can lead to higher demand for cement, positively influencing cement share prices.
  3. Input costs: The price of raw materials (like limestone, coal, and power) necessary for cement production significantly affects the profitability of cement companies. Fluctuations in these input costs can impact share prices, with rising costs potentially eroding profit margins and vice versa.
  4. Housing and real estate sector performance: The health of the housing and real estate sectors is a crucial demand driver for the cement industry. A booming real estate sector translates to increased cement consumption, which can lead to higher share prices for cement companies.
  5. Environmental regulations: Cement manufacturing is energy-intensive and contributes significantly to carbon emissions. Stricter environmental regulations and policies aimed at reducing carbon footprints can increase operational costs for cement companies, affecting their profitability and, consequently, their share prices. Conversely, companies that invest in sustainable practices may gain a competitive edge and investor preference, positively impacting their share prices.

Factors to consider while investing in cement stocks 

Though the cement sector is one of the essential sectors in India, there are certain things you need to consider while investing, 

  • Economic and political stability in the country.
  • The competitive landscape of the industry, including the market share and pricing power of major players.
  • Raw material availability and cost.
  • The regulatory environment, including environmental regulations and labour laws.
  • The financial health and management of individual companies.

When you check all these factors, you clearly understand if the stock is worth investing in. To analyse a stock better, use Tickertape Scorecard. The Scorecard feature gives you a good picture of the stock’s performance, growth, profitability and, most importantly, red flags associated with it. 

Go to individual asset pages and analyse your favourite stock using the Scorecard. 

Conclusion

Overall, the cement industry is one of the key industries in India. However, as we always say, conduct your research, use Tickertape’s Stock Screener to find the best cement stocks to buy in India, Watchlist your favourite stocks and invest accordingly.   

FAQs

What are the top cement stocks in NSE? 

The top cement companies in the NSE are 

These are as of 4th March 2024, derived using Tickertape Stock Screener and sorted according to the Market Cap. 

What are the best small-cap cement stocks in India? 

The best smallcap cement stocks in India are, 

These are as of 4th March 2024, derived using Tickertape Stock Screener and filtered as per the following parameters, 

  • Sector: Cement 
  • Market Cap: Smallcap – Sort from highest to lowest  

What are the top penny cement stocks in India?

The top cement penny stocks in India are:

Please note that these stocks are priced at below Rs. 20 as of 4th March 2024.

Anjali Chourasiya
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