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Deccan Cements Ltd

DECCANCE

NSE

₹526.10-0.65%19 Oct 2026

Reports

Cement

Deccan Cements Ltd

DECCANCE

NSE

₹526.10

-0.65%

19 Oct 2026

SOICxStockScans Reports

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Cement

Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Forensic Report: Accounting quality and red flags.Deep Dive Report: In-depth business analysis.

Deccan Cements is a four-decade-old south Indian cement maker that is in the final stage of completing an expansion that will double its production capacity to four million tonnes a year - a move that reshapes its future but not its identity. Incorporated in Hyderabad in 1979, the company has spent its life making and selling cement in a handful of southern and eastern states, led for most of that time by a technocrat chairman with over 46 years in the industry. The recurring approach is an obsession with energy efficiency: the company consistently burns less power and less heat per tonne than the industry norm, and it feeds its own waste - fly ash, waste heat, even colony garbage - back into the production loop.

Business segments

Two engines, one core - a cement business that is the company's reason for being, and a small power-generation side that exists to feed it and sell the surplus.

1. Cement: the main engine, now twice as large

A single-product manufacturer selling three types of cement across five states, running a plant so energy-efficient that it uses roughly a quarter less electricity per tonne than the industry average.

Cheaper to run than rivals - in FY25, the plant consumed 75.33 KWH of electricity per tonne of cement against an industry norm of 100 KWH, and its kiln heat consumption was 745.63 K.Cal per kg of clinker against a norm of 800, which means lower power and fuel bills for every bag it sells.
Waste feeds the process - 100% of the fly ash and bottom ash from its own captive power plant goes into making Portland Pozzolana Cement (PPC), and the clinker factor (the proportion of clinker in cement) was 65.44% in FY25, so the company saves on limestone and coal by substituting ash.
Rail-connected and self-contained - the plant has its own railway siding for moving cement out and a wagon tippler for unloading coal in, which cuts logistics costs and keeps the factory fed without relying on third-party terminals.
Doubled capacity in one leap - after years of selling roughly 1.8 to 1.9 lakh tonnes a month from a 2.2 million-tonne-per-year base, the company commissioned a new Line-3 on 15 December 2025, taking total installed capacity to 4.00 million tonnes per annum at the same plant location.
New limestone mines in the pipeline - to secure raw material beyond its existing leases, the company won preferred-bidder status for a limestone block in Rajasthan (Rata Mandha-1A) and another in Telangana (Saidulnama Block), both now moving through statutory approvals.

2. Power generation: captive supply with a small surplus sold outside

A trio of waste-heat, hydel and wind plants that exist primarily to power the cement factory, with any leftover electricity sold to external customers.

Heat that would be wasted makes electricity - a 7.0 MW Waste Heat Recovery plant captures hot gases from the cement kiln and cooler to generate power, so the company produces energy from a by-product it already has.
Water and wind add clean megawatts - a 3.75 MW hydel plant sits on the Nagarjunasagar Canal, and additional wind turbines contribute renewable generation, though the wind capacity is not separately disclosed in filings.
Ash completes the loop - the captive power plant's bottom ash and fly ash are entirely consumed in making PPC, so the power and cement operations form a closed resource circuit.

Group structure and partners

A family-controlled company with a single subsidiary created to build a future project in Rajasthan, and no joint ventures.

One subsidiary for a new geography - Deccan Swarna Cements Private Limited was incorporated on 13 March 2024 as a wholly owned subsidiary to implement a project in Jaisalmer, Rajasthan, which is where the company secured its new limestone block.
Promoters hold a stable majority - the promoter group, including the late chairman's family and associated entities, held 56.19% of shares as of December 2022, with no foreign collaboration and only incidental foreign institutional holdings picked up through the secondary market.
Lean board, recognised unions - six directors (two executive, four independent) oversee the company, while about 6% of the 357 permanent employees belong to unions affiliated to TNTUC and INTUC, with a much larger temporary workforce of 683 contract and casual workers handling peak or project needs.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Price

Charts

Documents

Edit Ratios

Mkt Cap

Market Capitalization

₹741Cr

Close Price

₹529.05

Industry

Cement

Price To Earnings

125.96

Price To Sales

1.05

Revenue

₹704Cr

Rev Gr TTM

Revenue Growth TTM

39.38%

PAT Gr TTM

PAT Growth TTM

-48.21%

Consolidated

Standalone

Numbers

Percentage

Quarter	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	172	120	115	119	151	140	131	214	219
Growth YoY Revenue Growth YoY%					-12.5	16.5	13.3	79.9	45.7
Expenses ExpensesCr	161	118	107	106	123	120	119	197	202
Operating Profit Operating ProfitCr	11	2	9	13	28	20	11	17	17
OPM OPM%	6.6	1.8	7.6	11.0	18.5	14.3	8.7	8.1	7.7
Other Income Other IncomeCr	3	3	3	7	3	2	2	14	9
Interest Expense Interest ExpenseCr	3	3	4	3	3	3	6	15	16
Depreciation DepreciationCr	7	7	7	7	7	7	8	14	16
PBT PBTCr	4	-5	1	10	20	12	-1	2	-5
Tax TaxCr	2	-1	1	2	5	3	0	-3	-2
PAT PATCr	3	-4	1	8	15	9	-1	5	-3
Growth YoY PAT Growth YoY%					446.3	323.9	-169.1	-40.6	-118.5
NPM NPM%	1.6	-3.4	0.7	6.7	10.2	6.5	-0.4	2.2	-1.3
EPS EPS₹	2.0	-2.9	0.6	5.7	11.0	6.5	-0.4	3.4	-5.2

Quarter	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	172	120	115	119	151	140	131	214	219
Growth YoY Revenue Growth YoY%					-12.5	16.5	13.3	79.9	45.7
Expenses ExpensesCr	161	118	107	106	123	120	119	197	202
Operating Profit Operating ProfitCr	11	2	9	13	28	20	11	17	17
OPM OPM%	6.6	1.8	7.6	11.0	18.5	14.3	8.7	8.1	7.7
Other Income Other IncomeCr	3	3	3	7	3	2	2	14	9
Interest Expense Interest ExpenseCr	3	3	4	3	3	3	6	15	16
Depreciation DepreciationCr	7	7	7	7	7	7	8	14	16
PBT PBTCr	4	-5	1	10	20	12	-1	2	-5
Tax TaxCr	2	-1	1	2	5	3	0	-3	-2
PAT PATCr	3	-4	1	8	15	9	-1	5	-3
Growth YoY PAT Growth YoY%					446.3	323.9	-169.1	-40.6	-118.5
NPM NPM%	1.6	-3.4	0.7	6.7	10.2	6.5	-0.4	2.2	-1.3
EPS EPS₹	2.0	-2.9	0.6	5.7	11.0	6.5	-0.4	3.4	-5.2

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	527	636	704
Growth Revenue Growth%		20.6	39.4
Expenses ExpensesCr	492	559	639
Operating Profit Operating ProfitCr	35	77	66
OPM OPM%	6.7	12.1	9.3
Other Income Other IncomeCr	16	21	27
Interest Expense Interest ExpenseCr	13	27	39
Depreciation DepreciationCr	28	36	44
PBT PBTCr	11	34	9
Tax TaxCr	3	6	-2
PAT PATCr	8	29	10
Growth PAT Growth%		280.1	-48.2
NPM NPM%	1.4	4.5	1.5
EPS EPS₹	5.4	20.4	4.2

Financial Year	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	527	636	704
Growth Revenue Growth%		20.6	39.4
Expenses ExpensesCr	492	559	639
Operating Profit Operating ProfitCr	35	77	66
OPM OPM%	6.7	12.1	9.3
Other Income Other IncomeCr	16	21	27
Interest Expense Interest ExpenseCr	13	27	39
Depreciation DepreciationCr	28	36	44
PBT PBTCr	11	34	9
Tax TaxCr	3	6	-2
PAT PATCr	8	29	10
Growth PAT Growth%		280.1	-48.2
NPM NPM%	1.4	4.5	1.5
EPS EPS₹	5.4	20.4	4.2

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	7	7
Reserves ReservesCr	715	744
Current Liabilities Current LiabilitiesCr	297	337
Non Current Liabilities Non Current LiabilitiesCr	606	623
Total Liabilities Total LiabilitiesCr	1,625	1,711
Current Assets Current AssetsCr	346	280
Non Current Assets Non Current AssetsCr	1,279	1,431
Total Assets Total AssetsCr	1,625	1,711

Financial Year	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	7	7
Reserves ReservesCr	715	744
Current Liabilities Current LiabilitiesCr	297	337
Non Current Liabilities Non Current LiabilitiesCr	606	623
Total Liabilities Total LiabilitiesCr	1,625	1,711
Current Assets Current AssetsCr	346	280
Non Current Assets Non Current AssetsCr	1,279	1,431
Total Assets Total AssetsCr	1,625	1,711

Consolidated

Standalone

Financial Year	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-38	76
Investing Cash Flow Investing Cash FlowCr	-227	-137
Financing Cash Flow Financing Cash FlowCr	178	9
Net Cash Flow Net Cash FlowCr	-87	-53
Free Cash Flow Free Cash FlowCr	-277	-69
CFO To PAT CFO To PAT%	-500.7	264.4
CFO To EBITDA CFO To EBITDA%	-106.4	98.6

Financial Year	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-38	76
Investing Cash Flow Investing Cash FlowCr	-227	-137
Financing Cash Flow Financing Cash FlowCr	178	9
Net Cash Flow Net Cash FlowCr	-87	-53
Free Cash Flow Free Cash FlowCr	-277	-69
CFO To PAT CFO To PAT%	-500.7	264.4
CFO To EBITDA CFO To EBITDA%	-106.4	98.6

Consolidated

Standalone

Financial Year	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	1,101	762	741
Price To Earnings Price To Earnings	146.4	26.7	126.0
Price To Sales Price To Sales	2.1	1.2	1.1
Price To Book Price To Book	1.5	1.0	1.0
EV To EBITDA EV To EBITDA	47.2	18.6	21.4
Profitability Ratios Profitability Ratios
GPM GPM%	15.7	19.6	19.6
OPM OPM%	6.7	12.1	9.3
NPM NPM%	1.4	4.5	1.5
ROCE ROCE%	1.6	4.1	4.1
ROE ROE%	1.0	3.8	3.8
ROA ROA%	0.5	1.7	1.7
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	1,101	762	741
Price To Earnings Price To Earnings	146.4	26.7	126.0
Price To Sales Price To Sales	2.1	1.2	1.1
Price To Book Price To Book	1.5	1.0	1.0
EV To EBITDA EV To EBITDA	47.2	18.6	21.4
Profitability Ratios Profitability Ratios
GPM GPM%	15.7	19.6	19.6
OPM OPM%	6.7	12.1	9.3
NPM NPM%	1.4	4.5	1.5
ROCE ROCE%	1.6	4.1	4.1
ROE ROE%	1.0	3.8	3.8
ROA ROA%	0.5	1.7	1.7
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	KCP	SAGCEM	SHREDIGCEM	DECCANCE	NCLIND	BIGBLOC	SAURASHCEM
Market CapitalizationMkt CapCr	1,947	1,738	961	741	735	571	546
Close PriceClose₹	151.00	132.99	65.00	529.05	162.55	40.30	49.08
IndustryIndustry	Cement	Cement	Cement	Cement	Cement	Cement	Cement
Price To EarningsPE	11.42		53.28	125.96	7.75	335.83	81.80
Price To SalesPS	0.73	0.65	1.08	1.05	0.51	1.86	0.32
RevenueRevenueCr	2,679	2,685	890	704	1,431	306	1,699
Revenue Growth TTMRev Gr TTM%	6.5%	13.4%	19.6%	39.4%	3.5%	33.5%	7.9%
PAT Growth TTMPAT Gr TTM%	-17.2%	79.5%	-35.0%	-48.2%	183.0%	11.5%	-52.1%

	KCP	SAGCEM	SHREDIGCEM	DECCANCE	NCLIND	BIGBLOC	SAURASHCEM
Market CapitalizationMkt CapCr	1,947	1,738	961	741	735	571	546
Close PriceClose₹	151.00	132.99	65.00	529.05	162.55	40.30	49.08
IndustryIndustry	Cement	Cement	Cement	Cement	Cement	Cement	Cement
Price To EarningsPE	11.42		53.28	125.96	7.75	335.83	81.80
Price To SalesPS	0.73	0.65	1.08	1.05	0.51	1.86	0.32
RevenueRevenueCr	2,679	2,685	890	704	1,431	306	1,699
Revenue Growth TTMRev Gr TTM%	6.5%	13.4%	19.6%	39.4%	3.5%	33.5%	7.9%
PAT Growth TTMPAT Gr TTM%	-17.2%	79.5%	-35.0%	-48.2%	183.0%	11.5%	-52.1%

FY2026

FY2025

FY2024

FY2023

FY2022

FY2021

FY2020

FY2026

Jun 26