Cement Products Stocks and Companies in India

The largest Cement Products stocks in India by market value are Ramco Industries (₹2,672 crore), Indian Hume Pipe Company (₹1,648 crore) and GPT Infraprojects (₹1,324 crore), at prices of 4 Nov 2026.

• Ramco Industries: ₹307.75 | market value ₹2,672 crore | P/E 8.5
• Indian Hume Pipe Company: ₹312.95 | market value ₹1,648 crore | P/E 17.6
• GPT Infraprojects: ₹104.76 | market value ₹1,324 crore | P/E 13.4
• Sanghi Industries: ₹49.90 (price from the week of 29 Mar 2026) | market value ₹1,289 crore
• BirlaNu: ₹1,243.70 | market value ₹918 crore
• Visaka Industries: ₹81.94 | market value ₹708 crore | P/E 10.4

Share price | market value | P/E, biggest first. Prices, market values and ratios at the official close of 4 Nov 2026; the score list below uses the weekly figures.

Ranked by the 4-Factor Sector Score (growth & earnings 35, capital efficiency 25, valuation 20, relative strength 20). Prices as of 30 Oct 2026.

All 6 listed Indian Cement Products companies are named here, largest first. This is the set of companies people mean when they search for a Nifty Cement Products index; NSE publishes its own indices only for the largest sectors, so this equal-weighted set stands in for one. Every figure is equal-weighted across those companies and carries its own as-of date.

1. Ramco Industries Ltd₹2,460 cr
2. Indian Hume Pipe Company Ltd₹1,560 cr
3. GPT Infraprojects Ltd₹1,420 cr
4. Sanghi Industries Ltd₹1,290 cr
5. BirlaNu Ltd₹918 cr
6. Visaka Industries Ltd₹687 cr

6 Cement Products companies in the Cement Products industry group have a page on Sector Alpha, by market value as of 30 October 2026, and all 6 are listed below, largest first. The largest is Ramco Industries (₹2,464 crore) and the smallest with a market value is Visaka Industries.

Download all 6 Cement Products companies (CSV)

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the last two years (104 weeks) this sector is 19% behind NIFTY 500. Earnings across its companies grew 37% on average over the last four reported quarters.

0 of 6 companies pass the momentum test (5+ points ahead of the Nifty 500 over 3 months, within 20% of the 52-week high).

Not ahead of NIFTY 500 on the three-month view this week; 1 of the 6 companies in the industry index above their 200-day average (1 fewer than four weeks earlier); 0 of those 6 pass the momentum test (2 fewer than four weeks earlier); earnings rising at 3 of the 6 that report earnings.

Not ahead of NIFTY 500, not building participation, not giving any back. Earnings mixed, 3 of 6 members have higher trailing twelve-month earnings than a year ago.

Both lines start at 200 in the same week, so the gap between them tells the story: the sector line is an equal-weighted index of its 6 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member set to 100 at the start and the sector taking the middle value, so a price line pulling away from flat bars means the market is paying more for the same earnings. A bar turns grey when that figure is lower than the quarter before. The rules are fixed and the same everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover or tap any point to read both values and the gap.

Cement Products has done worse than the NIFTY 500 by 3.8% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 3%. Visaka Industries Ltd is the strongest against the sector itself at +13.1%.

Cement Products has done worse than the NIFTY 500 by 3.8% over 52 weeks and by 3% over 13 weeks. 0 of 6 companies we track are beating the NIFTY on relative strength (how a share price has done against the index over recent months) (1 has no relative-strength reading yet), and 2 of the 4 with a long enough price history are ahead of the industry itself.

A score that ranks each company against the others in its industry. The four parts shown always add up to the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or old evidence affects only its own part, never as a hidden adjustment.

Visaka Industries Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 75.6% evidence confidence.

Indian Hume Pipe Company Ltd scores well on valuation against its peers or its own history, but its earnings have not yet improved enough to back that up.

Ranked last: too little evidence (1 company)

Under 60% of the evidence behind this score is available, so it ranks after every company above, whatever the score.

GPT Infraprojects Ltd has the strongest one-year price move in Cement Products at +5.2%. Visaka Industries Ltd leads on relative strength against the NIFTY, at +12.2%. 2 of 6 companies we track are ahead of the index on that measure (1 has no relative-strength reading yet). Every line covers 313 weekly closes through 30 October 2026.

Price and relative strength

Price · same starting point: Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts: the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

RS vs NIFTY 500: How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.

RS vs sector: The same measure taken against Cement Products itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.

Biggest one-year moves

Strongest against NIFTY 500

Strongest against the sector itself

1 of 6 Cement Products companies held a results call for July to September 2026. Visaka Industries guided: FY29 consolidated revenue yearly growth of 10-15%, with the CFO citing approx ₹2,500 crore revenue.

From the results calls for July to September 2026.

Big funds, foreign and Indian, kept their stake about the same over the last two quarters. Founders and promoters kept theirs about the same.

• Spending on new plants and equipment was ₹703 crore in the last 12 months, 11% more than a year before.
• Projects still being built grew 153% in a year.

Big funds = foreign and Indian institutions, change in their share of ownership across 7 Cement Products companies, in percentage points.

Ownership and spending as of 10 October 2026.

This is the written read behind the Cement Products figures above: what is actually happening in the industry, in words, with the evidence each claim rests on. It is dated 29 Jul 2026, so the words are older than the numbers. 5 themes are live here.

The Cement Products sector displays divergent performance in Q4 FY26. VISAKAIND and RAMCOIND reported PAT growth of 175% and 145.4% YoY respectively, while INDIANHUME saw PAT decline 95.4% YoY due to the absence of prior year exceptional gains.

How old this read is: OLD: this read comes from our Cement Products sector brief dated 29 Jul 2026, about 3 months ago. The page says so rather than dressing it up, and a fresh sector dive replaces it the day it runs.

What is live in this sector right now

Sources: our Cement Products sector brief, 29 Jul 2026.

BirlaNu Ltd has the highest Revenue among the 6 Cement Products companies compared here, at ₹3,852 crore. Ramco Industries Ltd is next at ₹1,873 crore. Sanghi Industries Ltd has the highest Revenue growth at 24.1%, so level and change sit with different companies. 6 of 6 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: BirlaNu Ltd is the largest at ₹3,852 crore, 105.7% ahead of Ramco Industries Ltd. Sanghi Industries Ltd's growth is 24.1% from a ₹1,140 crore base, with 17 reported quarters out of the last 20. Fast growth from a smaller base is not yet the same as proven size.

What this means: BirlaNu Ltd is the size to compare against; Sanghi Industries Ltd is the one growing fastest. The faster grower has to keep that growth and turn it into margin and returns before it counts as more than a fast start.

This conclusion weakens if: BirlaNu Ltd's growth falls below Sanghi Industries Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenue · company comparison

Revenue · largest

Revenue growth · fastest growers

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Revenue shows both size and speed. A large company can absorb shocks and pay for wide distribution; faster growth can mean market-share gains, new capacity or stronger demand. The best sign is usually growth that lasts without hurting margins and returns.

Ramco Industries Ltd has the highest OPM among the 6 Cement Products companies compared here, at 17%. GPT Infraprojects Ltd is next at 16%. Visaka Industries Ltd has the highest Margin change at +5 percentage points, so level and change sit with different companies. 6 of 6 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Ramco Industries Ltd leads opm at 17%; Visaka Industries Ltd leads margin change at +5 percentage points.

What this means: Ramco Industries Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

Operating margin · company comparison

OPM · highest

Margin change · fastest expanders

All-company data · latest reported quarter

Ramco Industries Ltd has the highest Net profit among the 6 Cement Products companies compared here, at ₹328 crore. Indian Hume Pipe Company Ltd is next at ₹144 crore. Visaka Industries Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Ramco Industries Ltd earns the most, ₹328 crore of profit over the last 12 months, 127.8% above Indian Hume Pipe Company Ltd. Visaka Industries Ltd shows at least 100% on the scoring scale (120.5% in full) growth from a profit base of ₹86 crore. A fast rate from a small base matters less than a large profit that keeps coming.

What this means: Ramco Industries Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profit · company comparison

Net profit · largest

Profit growth · fastest growers

All-company data · latest reported quarter

GPT Infraprojects Ltd has the highest ROCE among the 6 Cement Products companies compared here, at 21.4%. Indian Hume Pipe Company Ltd is next at 9.5%. Visaka Industries Ltd has the highest ROCE change at +5.8 percentage points, so level and change sit with different companies. 6 of 6 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: GPT Infraprojects Ltd leads ROCE at 21.4%, 11.9 percentage points above Indian Hume Pipe Company Ltd. A high return reported once may be one good year; a high return reported year after year shows a lasting business.

What this means: GPT Infraprojects Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

Return on capital · company comparison

Withheld from this chart: GPT Infraprojects Ltd (GPTINFRA): its two data sources disagree by up to 14% on reported income across 15 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn, the gap is a decision, not missing data.

ROCE · highest

ROCE change · fastest improvers

All-company data · latest reported quarter

Ramco Industries Ltd has the lowest PEG among the 6 Cement Products companies compared here, at 0.24×. Indian Hume Pipe Company Ltd is next at 1.08×. The same company also has the lowest P/E, at 7.83×. 2 of 6 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Ramco Industries Ltd has the lowest comparable PEG at 0.24×, 77.8% below Indian Hume Pipe Company Ltd. That would need today's multiple, the company's own history and steady growth to agree.

What this means: A low valuation is a reason to look closer at the business, not a conclusion on its own.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is worked out the same way every time, as the P/E on the last 12 months of reported earnings divided by that growth rate, never on expected earnings. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

Valuation · company comparison

PEG · lowest PEG

P/E · lowest P/E

All-company data · latest reported quarter

Cement Products companies show up on 4 of our India lists. The most are on the dividend stocks list (2 companies).

This Cement Products comparison names 7 specific ways its own evidence can mislead, all listed below. 1 of the 6 companies reports on an older date than the sector's freshest reporters, so its rank is marked stale. 1 has second-source figures left out because the two sources disagree.

Keep these limits visible

• A high growth rate can come from a very small starting figure. The page keeps level and change separate for that reason.
• A high ROCE can be temporary, or look high because the capital base is small. It is best read beside margin, cash flow and how much is spent back on the business.
• The 4-Factor Sector Score ranks published data only. Management quality, upcoming events and risks are not part of it.
• An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
• 1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.
• 1 company is missing from the second-source figures on purpose: the two sources disagree, so nothing from the second is drawn. Those rows have less evidence; that does not make the business weaker.
• Thin comparisons: Valuation have fewer than three usable current readings.

This comparison is built from the reported filings of 6 Cement Products companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Sep 2026 and market data through 30 October 2026.

1 of 6 companies has a second data feed that is known to disagree with the primary source, so nothing from it is drawn: GPT Infraprojects Ltd (GPTINFRA): its two data sources disagree by up to 14% on reported income across 15 comparable periods, so its derived ratios are withheld.

These 23 answers restate the Cement Products comparison above in question form. Every one is computed from the same 6 companies and the same reported filings as the rankings and charts, current through Sep 2026. Price and relative-strength answers run through 30 October 2026. Nothing here is estimated, and none of it is a recommendation.