Star Cement Ltd.

Financial

	Star Cement	Birla Corporation	India Cements
Operational Metrics
Cement Sector
EBITDA / Tonne - Cement	1534.0 Rs/MT	903.0 Rs/MT	19.0 Rs/MT
Manufacturing Capacity - Cement	5.7 MMTPA	20.0 MMTPA	15.55 MMTPA
Capacity Utilization - Cement	47.0 %	85.0 %	69.0 %
Realization / Tonne - Cement	6716.0 Rs/MT	5278.0 Rs/MT	5155.0 Rs/MT
Quarterly Sales Volume - Cement	1.0 Million tonnes	4.2 Million tonnes	2.67 Million tonnes
Capacity Utilization - Clinker	85.6 %	n/a	n/a
Unclassified
Quarterly Sales Volume - North East Region	0.73 Million Tonnes	n/a	n/a
Financials
5 yr Average ROE	12.67 %	6.99 %	0.76 %
5yr average Equity Multiplier	1.2	2.41	2.05
5yr Average Asset Turnover Ratio	0.84	0.57	0.45
5yr Avg Net Profit Margin	12.59 %	5.26 %	1.01 %
Price to Book	3.76	1.77	1.23
P/E	31.56	35.57	0.0
5yr Avg Cash Conversion Cycle	-97.7 Days	-231.78 Days	-167.87 Days
Inventory Days	44.31 Days	38.16 Days	54.71 Days
Days Receivable	14.39 Days	12.17 Days	57.13 Days
Days Payable	113.26 Days	233.81 Days	349.26 Days
5yr Average Interest Coverage Ratio	29.73	2.48	1.05
5yr Avg ROCE	16.16 %	7.55 %	2.99 %
5yr Avg Operating Profit Margin	21.02 %	16.76 %	10.16 %
5 yr average Debt to Equity	0.01	0.79	0.57
5yr CAGR Net Profit	-3.69 %	-30.83 %	n/a
5yr Average Return on Assets	10.52 %	2.89 %	0.38 %
Shareholdings
Promoter Holding	66.59 %	62.9 %	28.42 %
Share Pledged by Promoters	0.08 %	0.0	46.16 %
Change in Promoter Holding (3 Yrs)	-0.52 %	0.0	0.0
Change in Mutual Fund Holding (3 Yrs)	-1.16 %	1.07 %	1.37 %

Business

	Star Cement	Birla Corporation	India Cements
Product Wise Break-Up	Product Wise Break-Up Cement 100.0 Ordinary Portland Cement (OPC) 0 Portland Slag Cement (PSC) 0 Portland Pozzolana Cement (PPC) 0 Power 0 Jute 0 Electricity 0 Ready Mix Concrete 0 White Cement 0 Clinker 0	Product Wise Break-Up Electricity 0 Ordinary Portland Cement (OPC) 0 Portland Slag Cement (PSC) 0 Ready Mix Concrete 0 Cement 96.5 Jute 3.44 Power 0 Portland Pozzolana Cement (PPC) 0 Clinker 0 White Cement 0 Others 0.06	Product Wise Break-Up Electricity 2.03 Ordinary Portland Cement (OPC) 0 Portland Slag Cement (PSC) 0 Ready Mix Concrete 1.96 Cement 92.86 Jute 0 Power 0 Portland Pozzolana Cement (PPC) 0 Clinker 1.06 White Cement 0 Others 2.09
Location Wise Break-Up	Location Wise Break-Up India 100.0 Bhutan 0 Nepal 0 Rest of the World 0	Location Wise Break-Up Bhutan 0 India 99.07 Rest of the World 0.93 Nepal 0	Location Wise Break-Up Bhutan 0 India 100.0 Rest of the World 0 Nepal 0
Distribution Channel	Distribution Channel Trading 87.0 Non-Trade 13.0	-	-
Distribution Channel	Distribution Channel Trading 87.0 Non-Trade 13.0	-	-
Operating Profit Break-Up	Operating Profit Break-Up Cement 98.96 Power 1.04 JUTE 0 CEMENT 0	Operating Profit Break-Up JUTE 0.14 CEMENT 99.86 Cement 0 Power 0	-
Asset Break-Up	Asset Break-Up Cement 84.45 Power 5.47 JUTE 0 CEMENT 0 Others 10.08	Asset Break-Up JUTE 7.63 CEMENT 81.97 Cement 0 Power 0 Others 10.4	-