BWCL Bestway Cement Limited

Bestway Cement Limited (BWCL) financial ratios

Bestway Cement Limited earned a net margin of 23.6% in FY2026 against a five-year average of 17.3% (Cement median 12.5%). Return on equity was 19.4%, compared with a sector median of 15.4%. The current ratio stood at 0.45× and debt was 42.7% of equity. Cash took about 94 days to cycle through receivables, inventory and payables.

FY2026 vs the Cement median

Gross margin: 30.0%; Sector median 26.5%
Operating margin: 24.8%; Sector median 19.4%
Net margin: 23.6%; Sector median 12.5%
Return on equity (ROE): 19.4%; Sector median 15.4%
Return on assets (ROA): 8.9%; Sector median 8.0%
Current ratio: 0.45×; Sector median 1.19×
Debt to equity: 42.7%; Sector median 34.0%
Asset turnover: 0.38×; Sector median 0.56×
Dividend payout ratio: 93.3%; Sector median 6.6%

Median of the 19 companies in the sector with the figure for their latest fiscal year.

BWCL financial ratios (annual) (Rs mn)
Rs mn	FY2026 Jul 2025 – Jun 2026	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 * Jul 2015 – Jun 2016	FY2015 Jul 2014 – Jun 2015	FY2014 Jul 2013 – Jun 2014	FY2013 Jul 2012 – Jun 2013	FY2012 Jul 2011 – Jun 2012	FY2011 Jul 2010 – Jun 2011	FY2010 * Jul 2009 – Jun 2010	FY2009 * Jul 2008 – Jun 2009	FY2008 * Jul 2007 – Jun 2008	FY2007 * Jul 2006 – Jun 2007
Profitability
Gross margin	30.0%	34.6%	31.0%	31.1%	31.8%	29.2%	3.0%	29.9%	35.8%	43.6%	46.3%	39.1%	39.3%	41.4%	32.0%	20.7%	11.2%	30.3%	8.8%	14.5%
EBITDA margin	32.2%	35.7%	33.4%	32.5%	30.4%	31.1%	8.1%	30.3%	33.7%	41.0%	44.8%	37.3%	41.0%	37.8%	32.1%	24.1%	9.5%	24.5%	10.9%	22.2%
Operating margin	24.8%	30.0%	27.7%	28.0%	25.8%	25.7%	(0.3%)	24.6%	26.7%	33.6%	36.6%	32.2%	37.4%	34.2%	28.1%	17.8%	2.9%	19.7%	3.4%	12.0%
Pre-tax margin	19.9%	23.9%	17.0%	21.5%	23.8%	24.0%	(5.9%)	22.0%	25.7%	32.2%	32.7%	31.0%	36.0%	30.1%	17.4%	(1.4%)	(14.1%)	5.4%	(12.2%)	2.1%
Net margin	23.6%	22.1%	13.2%	13.6%	14.1%	20.4%	0.1%	18.8%	24.9%	25.7%	26.0%	29.4%	27.2%	26.1%	19.8%	4.3%	(2.2%)	6.1%	(4.9%)	7.7%
Effective tax rate	48.9%	49.0%	48.7%	56.7%	52.9%	29.1%	—	26.7%	13.3%	32.3%	34.7%	24.2%	24.6%	32.9%	30.1%	—	—	50.0%	—	77.2%
Returns
Return on equity (ROE)	19.4%	25.0%	22.0%	19.4%	16.9%	20.2%	0.1%	18.2%	26.0%	29.6%	31.2%	34.0%	33.9%	29.7%	21.3%	6.0%	(3.1%)	11.9%	(5.4%)	7.2%
Return on assets (ROA)	8.9%	10.8%	8.0%	7.7%	8.8%	12.0%	0.1%	10.7%	14.9%	16.7%	15.1%	16.8%	21.1%	17.1%	9.7%	1.9%	(0.9%)	3.1%	(1.6%)	2.0%
Return on invested capital (ROIC)	14.8%	17.0%	13.7%	11.5%	11.8%	16.1%	—	14.9%	19.7%	22.3%	20.6%	21.9%	29.2%	22.8%	14.5%	—	—	15.6%	—	2.2%
Liquidity
Current ratio	0.45×	0.52×	0.70×	0.80×	0.72×	1.41×	0.92×	0.61×	0.73×	1.15×	1.21×	0.96×	1.11×	1.18×	0.64×	0.54×	0.50×	0.69×	0.70×	0.94×
Quick ratio	0.18×	0.16×	0.20×	0.28×	0.23×	0.70×	0.42×	0.26×	0.25×	0.33×	0.44×	0.40×	0.30×	0.33×	0.17×	0.17×	0.18×	0.30×	0.24×	0.48×
Leverage
Debt to equity	42.7%	48.4%	116.1%	139.6%	80.3%	25.4%	41.2%	28.6%	41.6%	32.0%	45.1%	80.2%	10.5%	30.8%	60.9%	143.8%	246.2%	220.6%	55.0%	210.4%
Debt to capital	29.9%	32.6%	53.7%	58.3%	44.5%	20.3%	29.2%	22.2%	29.4%	24.2%	31.1%	44.5%	9.5%	23.6%	37.8%	59.0%	71.1%	68.8%	35.5%	67.8%
Debt to assets	19.2%	22.5%	43.6%	49.3%	36.5%	15.5%	23.8%	17.7%	23.3%	18.7%	24.3%	36.6%	6.8%	18.5%	33.4%	53.7%	64.1%	61.0%	14.8%	59.6%
Assets to equity	2.19×	2.32×	2.75×	2.52×	1.92×	1.69×	1.67×	1.69×	1.75×	1.78×	2.01×	1.94×	1.61×	1.73×	2.20×	3.15×	3.73×	3.65×	3.61×	3.41×
Efficiency
Asset turnover	0.38×	0.49×	0.61×	0.57×	0.62×	0.59×	0.40×	0.57×	0.60×	0.65×	0.58×	0.57×	0.78×	0.65×	0.49×	0.44×	0.40×	0.51×	0.32×	0.26×
Receivable days days	34	23	22	26	32	46	66	42	36	28	25	25	24	23	32	41	49	34	41	39
Inventory days days	100	102	108	124	106	93	92	103	128	117	107	119	122	124	128	114	98	96	103	115
Payable days days	40	30	30	36	40	34	30	35	36	33	27	24	29	24	21	27	35	50	44	39
Cash conversion cycle days	94	95	100	113	98	105	127	111	128	112	105	120	117	123	139	127	111	81	100	115
Dividends
Dividend payout ratio	93.3%	80.0%	103.9%	105.3%	93.2%	51.5%	7,263.7%	65.0%	54.4%	40.4%	50.3%	60.4%	47.8%	18.4%	0.0%	0.0%	—	0.0%	—	50.1%
Earnings retention rate	0.07×	0.20×	(0.04×)	(0.05×)	0.07×	0.49×	(71.64×)	0.35×	0.46×	0.60×	0.50×	0.40×	0.52×	0.82×	1.00×	1.00×	—	1.00×	—	0.50×

Ratios as reported for each fiscal year; returns are on average equity / assets. Debt ratios are percentages; turnover in times; working-capital measures in days.

BWCL: frequently asked questions

What is BWCL's EPS?

Bestway Cement Limited reported basic earnings per share of Rs 42.88 for FY2026 (Jul 2025 – Jun 2026).

What is BWCL's P/E ratio?

At the closing price of Rs 447.15 on 16 Oct 2026, BWCL trades at a P/E of 10.4× based on EPS of Rs 42.88 (FY2026).

Does BWCL pay dividends?

Yes. Bestway Cement Limited declared a dividend of Rs 40.00 per share for FY2026. It has paid a dividend in each of the last 14 years. At Rs 447.15 that is a dividend yield of 8.9%.

What was BWCL's revenue and profit in FY2026?

Bestway Cement Limited reported revenue of Rs 108.3 bn and profit attributable to shareholders of Rs 25.6 bn for FY2026 (Jul 2025 – Jun 2026).

What is BWCL's book value per share?

Bestway Cement Limited's book value per share was Rs 226.34 at the end of FY2026. The shares trade at 1.98× book value.

Information only, not investment advice.