Star Cement’s 20.63% margin beats the sector median in Q1FY27
Consolidated net profit was Rs 73.91 cr, with other income a relatively small contributor to profit before tax.
Filed 07 Aug 2026, 13:53 IST · Star Cement Ltd (STARCEMENT)
Key takeaways
- Star Cement reported consolidated net profit of Rs 73.91 cr, with EPS of Rs 1.85 in Q1FY27.
- Operating profit of Rs 194.49 cr produced a 20.63% margin, 2.22 percentage points above the 18.41% median for 62 reporting sector peers.
- Other income was Rs 8.2 cr against profit before tax of Rs 97.52 cr, while the reported tax rate was 24.21%.
Price around the results
Q1FY27 profit came with a 20.63% operating margin
Star Cement reported consolidated revenue of Rs 942.89 cr and operating profit of Rs 194.49 cr in Q1FY27. The resulting 20.63% operating margin indicates that roughly one-fifth of revenue remained after operating expenses. Net profit was Rs 73.91 cr after interest of Rs 13.75 cr, depreciation of Rs 91.42 cr and tax of Rs 23.61 cr.
Other income was not the main source of reported profit
Other income of Rs 8.2 cr was small relative to profit before tax of Rs 97.52 cr, so the reported profit was not primarily generated by non-operating income. Depreciation of Rs 91.42 cr and interest of Rs 13.75 cr were the main charges between operating profit and profit before tax. The reported tax rate was 24.21%.
Margin was above the reported Commodities peer median
Star Cement’s 20.63% operating margin was 2.22 percentage points above the 18.41% median among 62 Commodities companies that had reported the same quarter. It ranked 41st from the bottom in that peer set. No sequential or year-on-year comparison is available here, so the quarter’s multi-quarter margin direction cannot be assessed.
Q1FY27 at a glance
Consolidated figures as filed with NSE — cross-checked against an independent source.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹943 cr |
| Other income | ₹8 cr |
| Expenses | ₹748 cr |
| Operating profit | ₹194 cr |
| Operating margin (%) | 20.63% |
| Interest | ₹14 cr |
| Depreciation | ₹91 cr |
| Profit before tax | ₹98 cr |
| Tax | ₹24 cr |
| Net profit | ₹74 cr |
| EPS (₹) | ₹1.85 |
Operating margin of 20.63% compares with a Commodities sector median of 18.41% across 62 peers that have reported Q1FY27.
What to watch
- Whether operating margin holds above 20.63% in the next reported quarter.
- Whether other income remains limited relative to profit before tax of Rs 97.52 cr.
- Whether the tax rate remains near 24.21%.