1. Malaysia Stocks

  2. •

    Non-energy minerals

  3. •

    Construction materials
Steppe Cement Ltd

Steppe Cement Ltd

0.49
USD
+0.18
(+58.06%)
Jun 07Next Earn
Steppe Cement Ltd
OTC:SPPCF
(OTC Markets)

Recent

price

0.49

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
USD
0.46
0.54
0.66
0.59
0.53
0.42
0.3
0.32
0.38
0.36
0.34
0.39
0.4
0.38
0.39
0.46
- -
Revenue per Share
-0.02
0.02
0.05
0.05
-0.04
-0.01
- -
0.01
0.04
0.04
0.05
0.08
0.08
0.02
- -
0.02
- -
Basic EPS, GAAP
-0.03
0.05
0.02
0.06
-0.04
0.09
0.03
0.05
0.07
0.08
0.08
0.06
0.03
0.01
0.04
0.05
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
0.02
- -
- -
- -
0.01
0.04
0.05
0.03
0.06
- -
- -
- -
- -
Dividend per Share
0.69
0.7
0.68
0.71
0.54
0.26
0.27
0.27
0.28
0.29
0.26
0.3
0.3
0.32
0.26
0.27
0.27
Book Value per Share
0.69
0.7
0.68
0.71
0.54
0.26
0.27
0.27
0.28
0.29
0.26
0.3
0.3
0.32
0.26
0.27
0.27
Tangible Book Value per Share
160
179
182
218
221
225
176
205
219
221
218
219
219
215
219
219
219
Basic Weighted Avg Shares
73
96
120
128
117
94
52
66
82
80
75
85
87
82
85
102
- -
Sales/Revenue/Turnover
-2.57
11.58
13.68
16.64
3.79
12.95
4.73
5.43
17.26
18.01
17.58
24.5
23.21
7.71
1.51
5.63
- -
Operating Margin (%)
9
10
9
9
12
11
7
7
7
9
9
9
8
6
6
5
- -
Depreciation Expense
-4
3
8
10
-8
-3
- -
1
9
10
11
17
18
5
1
3
- -
Net Income, GAAP
- -
39.99
30.55
19.46
- -
- -
74.18
36.34
16.15
22.61
15.14
20.32
17.55
16.09
- -
37.95
- -
Effective Tax Rate (%)
-5.13
3.47
6.96
8.17
-6.81
-3.61
0.34
1.87
11.02
12.14
14.87
20.18
20.62
5.53
1.17
3.27
- -
Profit Margin (%)
7
12
20
6
-3
-4
1
2
9
13
14
23
24
28
17
19
19
Working Capital
52
43
41
27
30
15
15
10
7
8
4
2
4
3
2
2
2
LT Debt
125
127
149
155
118
57
58
60
61
63
58
66
65
71
57
58
58
Total Equity
- -
3.51
5.91
6.93
- -
- -
0.74
2.77
15.49
14.51
15.11
23.49
22.93
7.15
- -
5.74
- -
Return on Invested Capital (%)
- -
3.32
5.78
6.74
- -
- -
1.02
3.19
13.53
14.58
16.18
24.95
25.3
7.08
- -
5.76
- -
Return on Capital (%)
-3.3
2.65
6.05
6.88
-5.83
-3.88
0.31
2.1
15.03
15.67
18.4
27.63
27.37
6.67
1.56
5.75
- -
Return on Common Equity (%)

Capital Structure

USD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
3
2
1
LT Borrowings
2
3
2
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
219
219
219
Market Capitalization
- -
- -
- -

Working Capital

USD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
32
35
36
Cash, Cash Equivalents & STI
6
7
11
Accounts Receivable, Net
1
- -
- -
Inventories
20
19
19
Total Current Liabilities
16
17
17
Payables & Accruals
- -
- -
- -
ST Debt
3
2
1
Deferred Revenue
- -
- -
- -

Growth Rates

USD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
0.66%
0.79%
2.22%
Free Cash Flow
26.79%
33.94%
24.96%
Net Income, GAAP
129.01%
27.66%
232.67%
Sales/Revenue/Turnover
3.05%
6.67%
19.57%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

USD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
82
2024
- -
- -
85
2025
- -
- -
102

Semi-annual Earnings Per Share

USD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.02
2024
- -
- -
- -
2025
- -
- -
0.02

Semi-annual Dividends Per Share

USD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
- -
2024
- -
- -
- -
2025
- -
- -
- -
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Business
Steppe Cement Ltd. is a Malaysia-based investment holding company primarily engaged in the production and sale of cement and clinkers in Kazakhstan through its subsidiaries Karcement J.S.C. and Central Asia Cement J.S.C.; it also provides mechanical and electrical consultancy services and electricity transmission and distribution. The company operates two dry-process cement kilns with a combined annual capacity of approximately 2 million tonnes of cement at its manufacturing facility in Aktau Village near Karaganda, central Kazakhstan, approximately 40 kilometers north of Karaganda and 180 kilometers south of Nur-Sultan, utilizing local limestone and clay resources from nearby quarries sufficient for over 100 years; its four wet kilns remain mothballed since 2014 following a transition to the more resource-efficient dry method. Incorporated in 2004 and listed on London's AIM market in 2005 under ticker STCM.L with headquarters in Kuala Lumpur, Malaysia, Steppe Cement targets domestic construction and infrastructure markets as one of Kazakhstan's lowest-cost producers with a market share of 13-15%. Recent developments include record clinker and cement production volumes in 2025 with nine-month sales up 28% year-on-year to US$74.9 million and first-half volumes rising 18% to 850,424 tonnes amid a 19% market expansion; commissioning of a new dynamic separator for raw mill 3 and ecological filters for emissions compliance; plans for multi-year investments in Line 6 to boost capacity toward 2.2 million tonnes including preheater extensions and cooler modifications; and a proposed restructuring of a US$27 million intercompany loan into a listed bond for financing flexibility.