UltraTech Cement Ltd.

NSE: ULTRACEMCO · Cement & Cement Products

52W Range₹10,325 ₹13,110

Snapshot

Unlock UltraTech Cement Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

UltraTech Cement Limited is a leading manufacturer and distributor of cement, ready-mix concrete, and specialised construction products. The company operates extensively across India and maintains an export presence in the United Arab Emirates, Bahrain, and Sri Lanka.

Business Model

The company generates revenue through the large-scale production and sale of various cement types and building materials, complemented by value-added construction services. It operates as a subsidiary of Grasim Industries Limited, leveraging a broad distribution network to serve both retail home builders and industrial projects.

Growth Outlook

Growth is driven by the expansion of its diverse product portfolio, including waterproofing solutions and masonry materials, alongside increasing infrastructure demand. The company continues to focus on technical advisory services to strengthen its market position.

Key Risks

  • Input Cost Volatility. Fluctuations in the prices of energy, fuel, and raw materials can significantly impact operating margins.
  • Cyclical Demand. The construction and real estate sectors are highly sensitive to economic cycles and government infrastructure spending.
  • Logistics and Distribution. High transportation costs and reliance on efficient supply chain networks pose risks to profitability and timely delivery.
  • Regulatory and Environmental Compliance. Stricter environmental regulations regarding carbon emissions and mining operations may necessitate significant capital expenditure.

Price

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Key Metrics

REVENUE

₹88,512 Cr

TTM · consolidated

+19.7%YoY

NET PROFIT

₹8,188 Cr

TTM · consolidated

+26.6%YoY

EPS

₹277.61

TTM · consolidated

+24.7%YoY

RETURN ON EQUITY

11.3%

TTM · consolidated

+1.0 ppYoY

RETURN ON CAPITAL EMPLOYED

12.5%

TTM · consolidated

+0.7 ppYoY

P/E

42.4x

Q4 FY26 · consolidated

42.4 vs 53.0x5Y avg

EV/EBITDA

20.9x

Q4 FY26 · consolidated

20.9 vs 28.4x5Y avg

EBITDA MARGIN

19.9%

TTM · consolidated

+1.9 ppYoY

NET PROFIT MARGIN

11.6%

Q4 FY26 · consolidated

+0.9 ppYoY

DEBT TO EQUITY

0.3%

Q4 FY26 · consolidated

-0.0 ppYoY

Peers · Cement & Cement Products

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
UltraTech Cement Ltd.ULTRACEMCO
3,18,92542.4020.9519.7%19.9%11.3%12.5%-5.5%
Grasim Industries Ltd.GRASIM
1,76,69041.9716.6419.8%14.7%10.4%4.4%+11.2%
Ambuja Cements Ltd.AMBUJACEM
1,01,51723.3414.5016.0%18.1%10.0%4.8%-27.2%
Shree Cement Ltd.SHREECEM
84,42855.8718.668.6%25.3%8.0%10.8%-12.8%
J.K. Cement Ltd.JKCEMENT
39,53442.2618.6515.5%18.7%15.6%14.3%-16.4%
Dalmia Bharat Ltd.DALBHARAT
33,85130.1012.375.9%22.3%6.6%7.5%-15.4%

As of Q4 FY26

Financials