Promoter holding
64.27%
SC
Star Cement Limited - Due diligence report
A 360° intelligence report on Star Cement (India): trust score, financial health, credit view, compliance, directors, growth and distress si…
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Star Cement (India) — 360° Intelligence Report
Generated from MCA filings & public records74/100
Trust Score
Moderate
Star Cement (India) is assessed as Moderate with a Trust Score of 74/100. Star Cement (India) is an active public limited indian non-government company incorporated in 2001, operating in the Manufacturing sector. The company has shown revenue growth across its recent filed years. It was profitable in its latest filed year. Based on MCA filings and public records, it currently shows a high compliance risk and low financial risk profile.
Report generated on 07 Jul 2026 from the latest processed filings. Star Cement Limited snapshot & full profile →
Automated indicators derived from public MCA / GST / EPFO records - not a credit rating, not investment, legal or financial advice. Spotted an inaccuracy? Report an error.
02
Score Card
Higher is safer · rule-based & explainableTrust ScoreModerate
74/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreCaution Indicated
42/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreLow Risk
85/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreLow Risk
95/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
80/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
75/100
Revenue, profit, asset and hiring momentum.
Distress ScoreLow Risk
90/100
Early-warning signals - higher means fewer warnings.
03
Financial Intelligence Dashboard
Consolidated · 5 filed year(s)Unlock the full 5-year financial dashboard with charts and year-wise figures.
Get full accessScores and observations on this page are already computed from the real filings - only the underlying figures are locked.
04
Credit & Compliance Intelligence
Why the scores are what they are
Credit Risk Score: 95/100 Low Risk
- Liabilities ≈ 38% EBITDA - serviceable.
- Moderate gearing (D/E 1.42).
- Profitable - internal accruals available.
- Externally credit-rated (AA-).
Charges position: 8 open (549.00 cr) · 34 satisfied (1,479.61 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| Others | 12 | 48.0 cr |
| Axis Bank Limited | 2 | 48.0 cr |
| Allahabad Bank | 1 | 48.0 cr |
| Oriental Bank Of Commerce | 2 | 48.0 cr |
| State Bank Of India | 2 | 48.0 cr |
| Hdfc Bank Limited | 4 | 48.0 cr |
Compliance Score: 42/100 Caution Indicated
- Company status is Active as per MCA.
- Annual filings current (balance sheet Mar 2025).
- Flagged by authority: MCA.
- Litigation present in 3 court forum(s).
- Delayed payments to MSME suppliers disclosed (198 disclosure(s)).
- 15 active GST registration(s).
Legal cases on record (3)
05
Director Intelligence
Stability score: 80/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| DEEPAK SINGHAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Tushar Bhajanka | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| KESHAV BHAJANKA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| NIRMALYA BHATTACHARYYA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| JAGDISH CHANDRA TOSHNIWAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| RAMIT BUDHRAJA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SAJJAN BHAJANKA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SANJAY AGARWAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| PREM KUMAR BHAJANKA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| IBARIDOR KATHERINE WAR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| DEBABRATA THAKURTA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| AMIT KIRAN DEB | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| MANOJ KUMAR AGARWAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| BRIJ AGARWAL BHUSHAN | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| PLISTINA DKHAR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| PANKAJ KEJRIWAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| VIVEK CHAWLA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| MANOJ AGARWAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Manoj Agarwal | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 19 directors on the board.
- No disqualified or deactivated DINs.
- 4 director exits in 3 years - high churn.
- Average tenure above 5 years.
Director & KMP remuneration (FY 2023)
| Name | Designation | Total remuneration |
|---|---|---|
| A K Sharma | Managing Director | 2.4 cr |
| R Mehta | Whole-time Director | 1.6 cr |
| S Iyer | CFO | 95.0 L |
Remuneration is disclosed in the latest annual return. Unlock full report
06
Ownership & Group Intelligence
As per FY 2025 annual returnPublic / other holding
35.73%
Equity shares
12,45,67,890
Equity paid-up
124.5 cr
Promoters on record
4
Ultimate holding entity
-
Subsidiaries
6
Group entities
6
Capital events
1 allotment(s) · 0 transfer(s)
Promoters hold a minority stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Megha Technical And Engineers Private Limited | Subsidiary Company | 74.00% |
| Meghalaya Power Limited | Subsidiary Company | 74.00% |
| Ne Hills Hydro Limited | Subsidiary Company | 74.00% |
| Star Century Global Cement Private Limited | Subsidiary Company | 74.00% |
| Star Cement Meghalaya Limited | Subsidiary Company | 74.00% |
| Star Cement (i) Limited | Subsidiary Company | 74.00% |
| Star Cement North East Limited | Subsidiary Company | 74.00% |
Key managerial personnel: Tushar Bhajanka (Managing Director) · SAJJAN BHAJANKA (Managing Director) · SANJAY AGARWAL (Managing Director) · PREM KUMAR BHAJANKA (Managing Director) · MANOJ KUMAR AGARWAL (CFO) · PANKAJ KEJRIWAL (Whole-time director) · MANOJ AGARWAL (CFO)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 75 · Distress 90
Growth signals & trust indicators
Revenue acceleration: +2.1x over 4 year(s).
EPFO headcount growing - hiring signal.
Operating for 24+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Compliance score is weak (42/100).
8 open charge(s) registered - assets are encumbered.
MSME payment delays disclosed - latest outstanding 5.16 cr.
3 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence66/100
Review suggested
Suitability as a supplier / customer counterparty.
- Check the compliance flags before onboarding.
- No distress signals on file.
- Financial filings available for verification.
Banker assessment79/100
Favourable lending indicators
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- 8 open charge(s) of 549.00 cr already registered.
- Compliance gaps should be priced into terms.
Investor view78/100
Positive growth indicators
Growth quality and scalability through an investor lens.
- 2 growth signal(s) detected.
- Margin and return trends computable from filings.
- Management team looks stable.
09
MCA Filings & Events Timeline
Latest 15 events23 Sep 2025
Last AGM held
Annual general meeting
31 Mar 2025
Latest balance sheet
Filed with ROC
25 Feb 2025
Charge satisfied
Others
14 Feb 2025
Charge created
Hdfc Bank Limited - 30.00 cr
28 Jan 2025
Director ceased
RAJENDRA CHAMARIA
12 Dec 2024
Charge created
Axis Bank Limited - 200.00 cr
19 Oct 2024
Director ceased
Vinit Kumar Tiwari
25 Sep 2024
Charge satisfied
Indian Bank
29 Jan 2024
Charge created
Others - 4.00 cr
18 Jan 2024
Director ceased
KESHAV BHAJANKA
30 Dec 2023
Charge created
Others - 175.00 cr
09 Nov 2023
Director appointed
KESHAV BHAJANKA (Director)
29 Sep 2023
Charge satisfied
Others
04 Sep 2023
Charge satisfied
State Bank Of India
30 Aug 2023
Charge created
State Bank Of India - 30.00 cr
10
Key Observations
Auto-generated from the data aboveRevenue grew 24% over the last 4 financial year(s).
Net profit margin moved from 0.86 to 61%.
Debt-to-equity stands at 38% - manageable leverage.
Net worth is positive.
19 active director(s) / partner(s); board looks stable and experienced.
15 active GST registration(s) indicate ongoing business operations.
Operates a group structure with 6 subsidiary(ies) - assess on a consolidated basis.
Carries an external credit rating of AA- from Icra.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a minority stake as per the FY 2025 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
Capital has been raised through 1 security allotment(s) - amounts available in the full report.
| Company | CIN | Location |
|---|---|---|
| Suprajit Engineering | L29199KA1985PLC006934 | Bangalore, Karnataka, India |
| Bluestone | L72900KA2011PLC059678 | Bangalore, Karnataka, India |
| Hngil | L26109MH1946PLC467573 | Mumbai, Maharashtra, India |
| Hikal | L24200MH1988PTC048028 | Mumbai, Maharashtra, India |
| Mangalam | L24224GJ2010PLC062434 | Ahmedabad, Gujarat, India |
| Abharan Jewellers Private Limited | U27205KA2011PTC058025 | Udupi, Karnataka, India |
| Heidelbergcement India | L26942HR1958FLC042301 | Dlf Qe, Haryana, India |
| Heg (India) | L23109MP1972PLC008290 | Dist Raisen, Madhya Pradesh, India |
12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Star Cement (India) before audits and certifications: compliance score 42/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Star Cement (India): ACTIVE compliance status, annual-return recency, director DIN status, board churn and the events timeline - the inputs for secretarial audits and due-diligence certificates.
Bankers & NBFCs
Current banker verdict: Favourable lending indicators. Credit risk score 95/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.
Investors & Analysts
Investor view: Positive growth indicators. Growth score 75/100, margin trends, ownership structure and peer set for Star Cement (India) - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Review suggested. Trust score 74/100, distress signals and MSME payment-delay disclosures - know whether Star Cement (India) pays its suppliers before you extend credit terms.
Lawyers & Compliance Teams
Litigation footprint (3 case(s) on record), regulatory flags, charge documents trail and director networks for Star Cement (India) - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Star Cement (India) an active company?
Star Cement (India) has MCA status “Active” with a compliance score of 42/100 (Caution Indicated).
Is Star Cement (India) financially healthy?
Star Cement (India) has a Financial Health Score of 85/100 (Low Risk) based on its filed financial statements.
Should I do business with Star Cement (India)?
Its overall Trust Score is 74/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Star Cement (India)?
Promoters hold a minority stake - exact percentages are in the full report. 19 active director(s) are on record.
Does Star Cement (India) have loans or charges against its assets?
8 open charge(s) are registered against its assets, and 34 earlier charge(s) stand satisfied.
Is Star Cement (India) up to date with its ROC filings?
Annual filings current (balance sheet Mar 2025). Overall compliance score: 42/100 (Caution Indicated).
Is it risky to lend to Star Cement (India)?
Its Credit Risk Score is 95/100 (Low Risk). Banker verdict: Favourable lending indicators.
Disclaimer: This report is generated automatically from MCA filings and public records as available
in our system at the time of the last update. Scores, bands and verdicts are rule-based derived indicators of the
underlying data - they are opinions generated by an algorithm, not statements of fact about the company, and are
not credit ratings (within the meaning of SEBI regulations), audits, or investment, legal or financial advice.
Verify from official sources and consult a qualified professional before any business, lending or investment decision.
If you represent this company and believe any information is inaccurate or outdated,
report it here and we will review promptly.
