The India Cements Ltd.

Financial

	India Cements	JK Lakshmi Cement	Star Cement
Operational Metrics
Cement Sector
Realization / Tonne - Cement	4172.06 Rs/MT	6108.94 Rs/MT	6783.02 Rs/MT
EBITDA / Tonne - Cement	-669.57 Rs/MT	681.36 Rs/MT	1007.0 Rs/MT
Manufacturing Capacity - Cement	15.55 MMTPA	16.4 MMTPA	7.7 MMTPA
Capacity Utilization - Cement	59.0 %	89.0 %	76.91 %
Quarterly Sales Volume - Cement	2.3 Million tonnes	2.25 Million tonnes	1.06 Million tonnes
Financials
5 yr Average ROE	-0.09 %	16.03 %	11.38 %
5yr average Equity Multiplier	2.0	2.53	1.17
5yr Average Asset Turnover Ratio	0.44	0.91	0.86
5yr Avg Net Profit Margin	0.09 %	7.06 %	11.35 %
Price to Book	0.93	2.78	3.22
P/E	0.0	33.09	66.32
5yr Avg Cash Conversion Cycle	-205.75 Days	-95.16 Days	-141.31 Days
Inventory Days	55.06 Days	36.26 Days	40.94 Days
Days Receivable	54.4 Days	2.74 Days	14.46 Days
Days Payable	347.54 Days	165.71 Days	151.11 Days
5yr Average Interest Coverage Ratio	0.8	4.57	31.79
5yr Avg ROCE	1.93 %	17.4 %	15.87 %
5yr Avg Operating Profit Margin	7.66 %	16.83 %	18.54 %
5 yr average Debt to Equity	0.54	0.8	0.02
5yr CAGR Net Profit	n/a	13.72 %	0.66 %
5yr Average Return on Assets	-0.06 %	6.4 %	9.76 %
Shareholdings
Promoter Holding	81.49 %	46.34 %	57.66 %
Share Pledged by Promoters	0.0	0.0	1.33 %
Change in Promoter Holding (3 Yrs)	53.07 %	0.03 %	-9.67 %
Change in Mutual Fund Holding (3 Yrs)	-3.1 %	-0.4 %	-0.74 %

Business

	India Cements	JK Lakshmi Cement	Star Cement
Product Wise Break-Up	Product Wise Break-Up Cement 93.35 Ready Mix Concrete 2.17 Electricity 1.58 Clinker 0.23 White Cement 0 Ordinary Portland Cement (OPC) 0 Portland Slag Cement (PSC) 0 Portland Pozzolana Cement (PPC) 0 Power 0 Others 2.67	Product Wise Break-Up Ordinary Portland Cement (OPC) 0 Power 0 White Cement 0 Cement 100.0 Portland Pozzolana Cement (PPC) 0 Electricity 0 Clinker 0 Ready Mix Concrete 0 Portland Slag Cement (PSC) 0	Product Wise Break-Up Ordinary Portland Cement (OPC) 0 Power 0 White Cement 0 Cement 100.0 Portland Pozzolana Cement (PPC) 0 Electricity 0 Clinker 0 Ready Mix Concrete 0 Portland Slag Cement (PSC) 0
Location Wise Break-Up	Location Wise Break-Up India 100.0 Rest Of India 0 North & West India 0 North India 0 Rajasthan 0 Gujarat/MP 0 Bhutan 0 Nepal 0	Location Wise Break-Up Nepal 0 North & West India 0 India 0 Rest Of India 0 North India 23.0 Gujarat & MP 37.0 Rajasthan 40.0 Bhutan 0	Location Wise Break-Up Nepal 0 North & West India 0 India 100.0 Rest Of India 0 North India 0 Gujarat/MP 0 Rajasthan 0 Bhutan 0
Raw Material Break-Up	Raw Material Break-Up Limestone 38.56 Gypsum 12.23 Others 49.21	-	-