1. South Africa Stocks

  2. •

    Non-energy minerals

  3. •

    Construction materials
PPC Limited

PPC Limited

753.00
ZAC
-11.00
(-1.44%)
871.39BMarket Cap
Nov 23Next Earn
PPC Limited
JSE:PPC
(Johannesburg Stock Exchange)

Recent

price

753.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
ZAR
8.71
9.32
10.58
11.43
11.67
15.04
8.48
6.8
6.94
5.75
5.93
6.4
5.47
6.71
6.73
6.97
- -
Revenue per Share
1.1
1.07
1.18
1.06
0.88
0.73
0.08
0.1
0.16
-1.24
0.13
-0.04
-0.44
0.27
0.32
0.56
- -
Basic EPS, GAAP
1.17
0.39
0.47
-1.71
-2.03
- -
-1.08
0.33
0.3
-0.07
0.65
0.31
0.3
0.27
0.7
0.39
- -
Free Cash Flow per Basic Share
1.12
0.9
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.48
0.18
- -
Dividend per Share
1.33
1.5
1.99
2.3
3.34
- -
5.33
4.98
5.91
5.16
4.87
4.77
3.76
3.91
3.92
4.2
4.2
Book Value per Share
1.2
1.35
1.63
1.16
2.29
- -
4.86
4.46
5.5
4.98
4.75
4.68
3.7
3.87
3.88
4.15
4.15
Tangible Book Value per Share
783
789
786
791
791
642
1,137
1,510
1,512
1,507
1,508
1,543
1,524
1,500
1,468
1,471
1,471
Basic Weighted Avg Shares
6,826
7,346
8,316
9,039
9,227
9,657
9,641
10,271
10,494
8,671
8,938
9,882
8,339
10,058
9,871
10,255
- -
Sales/Revenue/Turnover
24.89
25.4
23.05
19.28
17.99
15.09
12.79
9.78
8.4
7.38
11.76
5.28
1.4
6.15
10.32
14.36
- -
Operating Margin (%)
436
461
522
- -
- -
- -
832
876
1,025
781
547
971
778
623
574
607
- -
Depreciation Expense
865
846
931
840
698
471
93
149
235
-1,872
189
-60
-667
406
466
830
- -
Net Income, GAAP
37.55
39.7
35.26
29.54
37.17
35.18
85
84.71
14.74
- -
42.04
111.29
- -
62.23
39.79
31.11
- -
Effective Tax Rate (%)
12.67
11.52
11.2
9.29
7.56
4.88
0.96
1.45
2.24
-21.59
2.11
-0.61
-8
4.04
4.72
8.09
- -
Profit Margin (%)
207
186
631
666
-301
- -
-219
836
211
-3,366
136
727
1,042
1,175
1,319
1,145
1,145
Working Capital
2,699
2,069
2,892
5,211
6,711
- -
3,560
4,079
4,066
856
1,015
1,188
894
342
601
585
585
LT Debt
955
1,176
2,142
2,418
3,164
- -
8,385
7,823
9,192
7,553
7,405
7,372
6,342
5,897
5,688
6,078
6,078
Total Equity
23.77
24.33
23.45
17.49
10.41
- -
- -
1.09
5.72
- -
10.73
-0.44
- -
1.82
7.55
15.12
- -
Return on Invested Capital (%)
26.48
24.67
24.23
16.97
10.64
- -
- -
2.64
6.62
- -
5.6
-0.73
- -
4.87
8.05
13.06
- -
Return on Capital (%)
95.42
79.4
68.06
49.78
31.31
- -
- -
1.91
2.86
-22.45
2.5
-0.82
-10.2
6.94
7.94
13.93
- -
Return on Common Equity (%)

Capital Structure

ZAR

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
ST Debt
42
66
136
LT Borrowings
500
500
500
LT Finance Leases
101
94
85
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,470
1,471
1,467
Market Capitalization
6,760
7,945
8,714

Working Capital

ZAR

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
Total Current Assets
2,991
3,191
3,627
Cash, Cash Equivalents & STI
872
812
1,089
Accounts Receivable, Net
593
1,286
647
Inventories
1,219
1,050
1,393
Total Current Liabilities
1,672
1,817
2,482
Payables & Accruals
- -
- -
- -
ST Debt
42
66
136
Deferred Revenue
- -
- -
- -

Growth Rates

ZAR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
-3.62%
6.86%
Free Cash Flow
- -
9.41%
-44.43%
Net Income, GAAP
-15.71%
162.39%
78.11%
Sales/Revenue/Turnover
1.18%
3.52%
3.89%
Total Cash Common Dividend
- -
- -
-62.73%

Semi-annual Revenue

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
10,058
2025
- -
- -
9,871
2026
- -
- -
10,255

Semi-annual Earnings Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.27
2025
- -
- -
0.32
2026
- -
- -
0.56

Semi-annual Dividends Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
- -
2025
- -
- -
0.48
2026
- -
- -
0.18
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Business
PPC Ltd engages in the production and sale of cement, aggregates, ready-mixed concrete, fly ash, and related construction materials across Southern Africa, including South Africa, Botswana, Zimbabwe, and Rwanda. Its core product portfolio comprises premium quality cement under the PPC SURE range; a wide variety of superior-grade aggregates including sand and crushed stone mined from dolomitic, amphibolite, and granite quarries; ready-mix concrete tailored to client specifications from 23 batching plants; premix products designed for construction efficiency; and classified and unclassified fly ash for industrial applications. The company also provides technical support services to its customers, targeting construction, chemical, metallurgical, and agricultural industries. Founded in 1892 as South Africa’s first cement manufacturer, PPC is headquartered in Johannesburg and operates 14 cement factories, nine manufacturing facilities, and several milling depots within its geographic footprint. In recent developments, PPC has embarked on a significant operational turnaround program since 2023 focusing on organizational culture, supply chain optimization, industrial efficiencies, and asset profitability enhancement to boost competitiveness and financial performance. In 2025, PPC announced a landmark investment in a new integrated cement facility in South Africa with a capacity of 1.5 million tonnes per annum aiming at promoting sustainable production practices. Additionally, the company declared a special dividend in 2024 during its balance sheet stabilization period following prior divestments of non-strategic assets. Despite subdued market conditions in infrastructure and retail development across South Africa and Botswana, PPC continues to prioritize its cement business turnaround and cash flow improvement initiatives while maintaining its strong market position in Southern Africa's building materials sector. PPC operates primarily within the building materials industry, focusing on supplying basic construction inputs and solutions across sub-Saharan Africa. Its strategic activities include expansion of production capacity, enhancing product mix diversity, and embedding sustainability into manufacturing processes. The company was formerly known as Pretoria Portland Cement Company Limited until its name was changed to PPC Ltd in 2012. It remains a leading entity within the materials sector listed on the Johannesburg Stock Exchange under the ticker PPC.JO. Executive leadership continues to drive transformation focused on long-term growth and operational excellence.

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