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India CementsNSE:INDIACEM +1.30%60 Piotroski F-Score is 6 as of Aug. 08, 2026, which is 20% above its 10-year median of 5.00. GuruFocus rates NSE:INDIACEM with a GF Score™ of 60/100 and a GF Value™ of ₹241.18 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 391 Building Materials companies, India Cements ranks better than 67.01% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
India Cements has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for India Cements's Piotroski F-Score or its related term are showing as below:
NSE:INDIACEM'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 8
Current: 6
During the past 13 years, the highest Piotroski F-Score of India Cements was 8. The lowest was 3. And the median was 5.
India Cements (NSE:INDIACEM) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
India Cements Piotroski F-Score Related Terms
India Cements Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for India Cements's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:INDIACEM vs CRH, VMC, MLM: Piotroski F-Score Comparison
For the Building Materials subindustry, India Cements's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
India Cements Piotroski F-Score vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, India Cements's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where India Cements's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
India Cements's current Net Income (TTM) was -673.
==> Negative ==> Score 0.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
India Cements's return on assets of this year was -0.00484616. India Cements's return on assets of last year was -0.01342704.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
India Cements's gearing of this year was 0.07157481. India Cements's gearing of last year was 0.08712214.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
India Cements's current ratio of this year was 1.00555565. India Cements's current ratio of last year was 0.93751073.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
India Cements's number of shares in issue this year was 309.896. India Cements's number of shares in issue last year was 309.896.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
India Cements's gross margin of this year was 0.33622923. India Cements's gross margin of last year was 0.32689812.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
India Cements's asset turnover of this year was 0.32099212. India Cements's asset turnover of last year was 0.38617755.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
India Cements has an F-score of 6 indicating the company's financial situation is typical for a stable company.
India Cements (NSE:INDIACEM) has a Piotroski F-Score of 6 as of Aug. 08, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on India Cements and its competitors. This is 20% above median its historical median of 5.00. Over the past decade, India Cements' Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, India Cements ranks #129 out of 391 companies in the Building Materials industry, placing it in the top 33%.
Is India Cements' Piotroski F-Score too high?
India Cements' current Piotroski F-Score of 6 is 20% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 8.00. The Building Materials industry median Piotroski F-Score is 5.00. India Cements' value of 6 is 20% above this industry median. Based on the distribution chart, India Cements ranks #129 out of 391 companies in the Building Materials industry, which is above the industry midpoint. Overall, India Cements has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does India Cements' Piotroski F-Score compare to CRH and VMC?
According to the Building Materials industry distribution chart, India Cements ranks #129 out of 391 companies for Piotroski F-Score. This puts India Cements in the upper half of its industry. The industry median Piotroski F-Score is 5.00. India Cements' value of 6 is 20% above this benchmark. Historically, India Cements' own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, India Cements has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Building Materials company?
The median Piotroski F-Score among Building Materials companies is 5.00, based on 391 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. India Cements's current Piotroski F-Score of 6 is 20% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on India Cements and its competitors. For the Building Materials industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. India Cements's current Piotroski F-Score is 6, which is 20% above median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is India Cements stock overvalued right now?
Based on GuruFocus' analysis, India Cements (NSE:INDIACEM) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹241.18, compared to a current price of ₹398.15 — trading 65.1% above its estimated fair value. The current Piotroski F-Score is 6, which is 20% above median its 10-year median of 5.00 and 20% above the Building Materials industry median of 5.00. India Cements' overall GF Score™ is 60/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For India Cements (NSE:INDIACEM), the current Piotroski F-Score is 6 as of Aug. 08, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is India Cements (NSE:INDIACEM) Overvalued in 2026?
Based on GuruFocus' analysis, India Cements stock appears to be overvalued.
The current stock price of ₹398.15 is trading 65.1% above its estimated GF Value™ of ₹241.18.
GuruFocus considers India Cements to be Significantly Overvalued.
Key valuation signals for NSE:INDIACEM:
Piotroski F-Score: 6 (20% above median its 10-year median of 5.00)
GF Value™: ₹241.18 vs. price of ₹398.15 (65.1% above fair value)
Industry Position: 20% above the Building Materials median (#129 of 391)
No single metric tells the full story. See the NSE:INDIACEM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
India Cements Ltd is a cement manufacturing company. It is engaged in the manufacturing and sale of cement and cement-related products. Its brands include: Conkrete Super King; Coromandel King; Sankar Super Power; Raasi Gold; Halo Super King and others.
60GF Score
Get the complete analysis for NSE:INDIACEM
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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