The Ramco Cements Limited
The Ramco Cements Limited (TRCL) is a reputed cement manufacturer in India and markets its products under the Ramco brand. TRCL has an aggregate installed integrated cement capacity of 14.7 million tonnes per annum, across five facilities in Tamil Na...
Key Metrics
EPS
15.23
Current ratio
0.57
Debt/Equity
0.94
Debt/EBITDA
4.24
Interest coverage ratio
2.30
Operating Cashflow to total debt
0.28
Financials
Pros & Cons
Exclusive on TAP Bonds
Here's what we like about this company and potential risks we have identified.
Pros
Strong market position in southern region
Strong operational efficiencies
Favourable demand prospects and exceptional financial flexibility
Liquidity position: Adequate
Cons
Pressure on profitability owing to decline in realisations and debt-funded capex expected to keep leverage at elevated levels
Geographical concentration in South India
Vulnerability of revenues to cyclicality in economy
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About The Ramco Cements Limited bond.
This comprehensive profile covers key factual information about The Ramco Cements Limited. The Ramco Cements Limited (TRCL) is a reputed cement manufacturer in India and markets its products under the Ramco brand. TRCL has an aggregate installed integrated cement capacity of 14.7 million tonnes per annum, across five facilities in Tamil Nadu and Andhra Pradesh. It has an additional grinding capacity of 8.44 million tonnes in South/East India as on March 31, 2024. About 75% of the company’s revenues are derived from the four southern states. TRCL has captive thermal and windmill capacities of 175 MW and 126 MW, respectively. The company also has two modest-scale subsidiaries, Ramco Windfarms Limited (with a 40 MW windmill capacity) and Ramco Industrial and Technology Services Limited (which is into transport services, manpower services and IT). It is one of the flagship companies of the larger Ramco Group founded in 1938 by the Late P.A.C Ramasamy Raja and is, at present, managed by his grandson, Mr. P R Venketrama Raja. The Ramco Group has interests in textiles, fibre cement sheets and information technology and is represented by key companies such as Ramco Industries Limited (rated [ICRA]AA- /Stable/[ICRA]A1+), Ramco Systems Limited (rated [ICRA]BBB+/Stable/[ICRA]A2) and Rajapalayam Mills Limited. EPS in Mar-2024 was 15.23. Current ratio in Mar-2024 was 0.57. Debt/Equity in Mar-2024 was 0.94. Debt/EBITDA in Mar-2024 was 4.24. Interest coverage ratio in Mar-2024 was 2.30. Operating Cashflow to total debt in Mar-2024 was 0.28. Total revenue for Mar-2025(E) was ₹10,849.69. Net income for Mar-2025(E) stood at ₹125.46. Total assets as of Mar-2024 were ₹16,269.58. Operating cash flow for Mar-2024 was ₹1,905.53. The company’s borrowing relationships include HDFC Bank Limited (₹N/A Cr), HSBC Limited (₹N/A Cr), Axis Bank Limited (₹N/A Cr), Kotak Mahindra Bank Limited (₹N/A Cr), Federal Bank Limited (₹N/A Cr), HDFC Bank Limited (₹N/A Cr), RBL Bank Limited (₹N/A Cr), IDFC FIRST Bank Limited (₹N/A Cr), IDBI Bank Limited (₹N/A Cr), Federal Bank Limited (₹N/A Cr), Kotak Mahindra Bank Limited (₹N/A Cr), ICICI Bank Limited (₹N/A Cr), Not Applicable (₹N/A Cr), Federal Bank Limited (₹N/A Cr), ICICI Bank Limited (₹N/A Cr), Kotak Mahindra Bank Limited (₹N/A Cr), HSBC Limited (₹N/A Cr), HDFC Bank Limited (₹N/A Cr), RBL Bank Limited (₹N/A Cr), IDBI Bank Limited (₹N/A Cr), South Indian Bank Limited (₹N/A Cr), IDFC FIRST Bank Limited (₹N/A Cr), RBL Bank Limited (₹N/A Cr), Kotak Mahindra Bank Limited (₹N/A Cr), HDFC Bank Limited (₹N/A Cr), ICICI Bank Limited (₹N/A Cr). Peers and comparison entities consist of Ramco Cements Limited, UltraTech Cement Limited, Grasim Industries Limited, Ambuja Cements Limited. As of Dec 2024, promoters hold N/A% while others hold N/A% of equity. Key strengths include: Strong market position in southern region; Strong operational efficiencies; Favourable demand prospects and exceptional financial flexibility; Liquidity position: Adequate . Key risks include: Pressure on profitability owing to decline in realisations and debt-funded capex expected to keep leverage at elevated levels; Geographical concentration in South India ; Vulnerability of revenues to cyclicality in economy. Leadership team details include A V Dharmakrishnan (Chief Executive Officer), Ajay Bhaskar Baliga (Independent Director), Ajit Kumar Paul (Vice President), Anil Kumar Pillai (Senior General Manager), Ashish Kumar Seniorivastava (President), C K Ranganathan (Independent Director), C Ravichandran (Senior Vice President), Chitra Venkataraman (Independent Director), G Murugesan (Vice President), K Jayakumar (President - Marketing), K K Sathasivam (Vice President), K P Dinesh Chandran (Senior. Dy. General Manager), K Selvanayagam (Company Secretary & Compliance Officer), M F Farooqui (Chairperson), M S Krishnan (Independent Director), M Thiruchittambalampillai (Assistance Vice President), Madhusudhan Kulkarni (Senior Vice President), N Ravishankar (Senior President), P R Venketrama Raja (Managing Director), P Veerapandian (Senior General Manager), R Dinesh (Non Executive Non Ind.Director), R Duraisinga Raja (Assistance Vice President), R Meenashi Sundaram (Vice President), R Ramachandran (Senior. Dy. General Manager), R Ramakrishnan (Senior President), Reddy Nagaraju (President - Projects), Renjit Jacob Mathews (Senior Vice President), S Lakshmanan (Assistance Vice President), S Ramaraj (Senior Vice President), S V R K Murthy Rao (Senior Vice President), S Vaithiyanathan (Chief Financial Officer), Sabyasachi Kabiraj (Assistance General Manager), T R Hari (President), V Duraimurugan (Deputy General Manager), V Santhana Krishnan (Senior Vice President). This detailed corporate overview is structured to provide a thorough understanding of all available data points, enhance search visibility, and support investor analysis.