PIOC Pioneer Cement Limited

Pioneer Cement Limited (PIOC) financial ratios

Pioneer Cement Limited earned a net margin of 17.1% in FY2026 against a five-year average of 11.4% (Cement median 12.5%). Return on equity was 13.6%, compared with a sector median of 15.4%. The current ratio stood at 1.13× and debt was 0.0% of equity. Cash took about 64 days to cycle through receivables, inventory and payables.

FY2026 vs the Cement median

Gross margin: 30.0%; Sector median 26.5%
Operating margin: 26.9%; Sector median 19.4%
Net margin: 17.1%; Sector median 12.5%
Return on equity (ROE): 13.6%; Sector median 15.4%
Return on assets (ROA): 8.0%; Sector median 8.0%
Current ratio: 1.13×; Sector median 1.19×
Debt to equity: 0.0%; Sector median 34.0%
Asset turnover: 0.47×; Sector median 0.56×
Dividend payout ratio: 0.0%; Sector median 6.6%

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

PIOC 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%	31.4%	33.1%	26.0%	22.6%	18.9%	(1.6%)	21.9%	27.8%	41.7%	42.8%	37.6%	32.3%	31.8%	24.5%	14.1%	(2.1%)	26.7%	10.6%	11.7%
EBITDA margin	34.5%	37.2%	39.0%	32.0%	24.6%	21.8%	1.0%	23.1%	29.0%	45.0%	44.1%	45.7%	35.2%	34.3%	27.3%	17.4%	2.4%	25.4%	8.7%	17.7%
Operating margin	26.9%	27.8%	30.6%	24.6%	20.9%	17.3%	(5.8%)	17.9%	23.9%	40.6%	40.0%	41.6%	30.3%	29.4%	21.7%	10.3%	(7.8%)	17.8%	(0.3%)	5.9%
Pre-tax margin	26.1%	24.3%	23.6%	15.8%	12.4%	10.1%	(12.0%)	13.6%	21.9%	38.3%	41.1%	41.6%	30.3%	29.7%	14.2%	1.4%	(22.2%)	3.5%	(11.8%)	(5.8%)
Net margin	17.1%	14.6%	14.6%	7.2%	3.3%	9.0%	(3.3%)	8.1%	16.2%	27.4%	26.9%	29.6%	22.0%	20.3%	9.3%	2.3%	(15.3%)	0.7%	(3.7%)	(2.9%)
Effective tax rate	34.6%	39.7%	38.3%	54.4%	73.4%	10.4%	—	40.3%	25.7%	28.3%	34.5%	28.7%	27.2%	31.7%	34.9%	(68.0%)	—	79.3%	—	—
Returns
Return on equity (ROE)	13.6%	10.5%	12.0%	7.4%	4.7%	14.0%	(1.6%)	5.9%	14.2%	33.7%	34.6%	42.1%	36.9%	40.5%	21.5%	5.2%	(25.6%)	1.5%	(8.2%)	(4.2%)
Return on assets (ROA)	8.0%	5.7%	6.0%	3.3%	1.7%	3.9%	(0.5%)	2.2%	7.0%	17.9%	18.7%	20.8%	15.1%	14.1%	6.0%	1.2%	(5.7%)	0.3%	(1.9%)	(1.1%)
Return on invested capital (ROIC)	13.3%	10.2%	12.1%	7.4%	3.7%	8.7%	—	3.2%	9.5%	29.0%	31.2%	34.5%	26.7%	25.7%	14.2%	12.1%	—	(0.9%)	—	—
Liquidity
Current ratio	1.13×	0.88×	0.55×	0.47×	0.48×	0.49×	0.51×	0.62×	1.36×	3.14×	2.44×	2.78×	1.43×	1.08×	0.43×	0.27×	0.27×	0.29×	0.26×	0.47×
Quick ratio	0.41×	0.42×	0.18×	0.15×	0.19×	0.27×	0.30×	0.39×	0.88×	2.13×	1.81×	1.93×	0.86×	0.70×	0.10×	0.08×	0.05×	0.11×	0.10×	0.19×
Leverage
Debt to equity	0.0%	18.9%	23.0%	43.1%	74.6%	179.8%	205.8%	161.0%	78.5%	24.2%	8.2%	14.8%	35.7%	58.5%	82.7%	129.4%	166.3%	148.3%	160.1%	186.3%
Debt to capital	0.0%	15.9%	18.7%	30.1%	42.7%	64.3%	67.3%	61.7%	44.0%	19.5%	7.6%	12.9%	26.3%	36.9%	45.3%	56.4%	62.4%	59.7%	61.6%	65.1%
Debt to assets	0.0%	10.3%	12.3%	20.1%	30.9%	52.7%	55.1%	50.7%	36.8%	13.0%	4.4%	8.2%	15.4%	22.4%	25.6%	32.4%	35.7%	34.4%	35.3%	45.4%
Assets to equity	1.72×	1.85×	2.00×	2.26×	2.75×	3.56×	3.45×	2.65×	2.02×	1.88×	1.85×	2.02×	2.45×	2.86×	3.56×	4.31×	4.48×	4.42×	4.34×	3.85×
Efficiency
Asset turnover	0.47×	0.39×	0.41×	0.45×	0.52×	0.43×	0.14×	0.27×	0.43×	0.65×	0.70×	0.70×	0.68×	0.70×	0.65×	0.52×	0.37×	0.48×	0.51×	0.37×
Receivable days days	18	21	19	21	28	42	144	92	54	14	5	5	5	8	10	12	17	11	7	6
Inventory days days	94	91	88	76	65	70	150	105	98	84	86	109	101	99	86	77	79	57	45	—
Payable days days	48	54	69	71	61	60	121	59	26	9	8	10	12	16	17	23	34	36	35	—
Cash conversion cycle days	64	58	38	25	32	51	172	138	126	88	83	104	94	90	78	66	62	32	17	6
Dividends
Dividend payout ratio	0.0%	23.3%	65.8%	0.0%	0.0%	0.0%	—	0.0%	56.2%	42.8%	56.4%	56.9%	54.6%	18.5%	0.0%	0.0%	—	0.0%	—	—
Earnings retention rate	1.00×	0.77×	0.34×	1.00×	1.00×	1.00×	—	1.00×	0.44×	0.57×	0.44×	0.43×	0.45×	0.82×	1.00×	1.00×	—	1.00×	—	—

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.

PIOC: frequently asked questions

What is PIOC's EPS?

Pioneer Cement Limited reported basic earnings per share of Rs 29.03 for FY2026 (Jul 2025 – Jun 2026).

What is PIOC's P/E ratio?

At the closing price of Rs 231.93 on 16 Oct 2026, PIOC trades at a P/E of 8.0× based on EPS of Rs 29.03 (FY2026).

Does PIOC pay dividends?

Pioneer Cement Limited did not declare a cash dividend for FY2026.

What was PIOC's revenue and profit in FY2026?

Pioneer Cement Limited reported revenue of Rs 38.6 bn and profit attributable to shareholders of Rs 6.6 bn for FY2026 (Jul 2025 – Jun 2026).

What is PIOC's book value per share?

Pioneer Cement Limited's book value per share was Rs 218.02 at the end of FY2026. The shares trade at 1.06× book value.

Information only, not investment advice.