ULTRACEMCOConstruction Materials

UltraTech Cement Limited

Cement & Cement Products · ISIN INE481G01011 · BSE 532538 · NSE EQ · FV ₹10
Last price
₹10,764
+0.60%today
What this company does

UltraTech Cement Limited operates in Cement & Cement Products, part of the Construction Materials sector. It booked ₹24,648 cr of revenue in its latest quarter (Q1 FY27) and kept 10.5% of sales as profit. It is the largest of 9 Cement & Cement Products companies we track, by market value.

62out of 100
Equitytale Health Score
Mixed

Healthier than 62% of listed companies we score, on all six measures of filed financials. Each measure is ranked against the 1,201–2,858 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
oversold
RSI (14)
29

At close. Not part of the score.

Profitability & returns57

How much profit it earns on the money it employs

Balance sheet49

How much it owes, and whether earnings cover the interest

Cash quality86

Whether reported profit actually arrives as cash

Growth & consistency69

Whether sales and profit have grown, and how steadily

Valuation33

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 16% vs last year
Profit up 17% vs last year
Promoters hold 59%
No promoter shares pledged
Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in ULTRACEMCO?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 2% a year, it would become
₹13.28 lakh

The slider starts at 2%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹10,764 +0.60%
latest close · 2026-09-17
1-year return
+47.3%
52-wk low ₹5,15752-wk high ₹12,239
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio30.5High
LowAverageHigh
P/B ratio4.14High
Below bookModerateHigh
EV / EBITDA16.5High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity13.6%Fair
WeakFairStrong ▸15%
Return on capital14.6%Fair
WeakFairStrong
Net margin10.5%Decent
ThinDecentStrong
EBITDA margin20.8%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.28Comfortable
LowModerateHigh ▸1
Interest cover8.7×Strong
RiskyOkayStrong ▸5×
Current ratio0.74Tight
Tight ◂1HealthyAmple
More figures
Market cap
₹3.17 L cr
Book value
₹2,600
EPS
₹88.36
latest quarter
Net debt
₹22,426 cr
owes more than its cash
Enterprise value
₹3.40 L cr
EBITDA
₹20,530 cr
annualised
EBIT
₹15,728 cr
annualised
Operating margin
16.0%
Return on assets
7.4%
Earnings yield
3.28%
P/S
3.22
Sales / share
₹3,345.8
Tax rate
25.2%
Face value
₹10
Shares
29.5 cr
Working capital
₹-8,730 cr
Current assets
₹25,102 cr
Current liabilities
₹33,832 cr
Delivery %
61.6%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the exchange filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹1,828₹3,430, midpoint ₹2,331

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹24,648 cr
Other Income₹130 cr
Total Income₹24,778 cr
Cost of Materials₹4,129 cr
Purchases of Stock-in-Trade₹710 cr
Inventory Change (±)₹-136 cr
Employee Benefit Expense₹1,106 cr
Finance Costs₹453 cr
Depreciation & Amortisation₹1,201 cr
Other Expenses₹13,822 cr
Total Expenses₹21,286 cr
Exceptional Items₹-13 cr
Profit before Tax₹3,479 cr
Tax Expense₹877 cr
Share of JV / Associates₹1 cr
Net Profit₹2,604 cr
Net margin on total income10.5%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹4,704 cr19.0%
Employee benefit expense₹1,106 cr4.5%
Finance costs₹453 cr1.8%
Depreciation & amortisation₹1,201 cr4.8%
Other expenses₹13,822 cr55.8%
Tax expense₹877 cr3.5%
Profit for the period₹2,604 cr10.5%
Total income ₹24,778 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue21,830 cr25,799 cr24,648 cr
Total income21,965 cr25,887 cr24,778 cr
Expenses19,589 cr21,894 cr21,286 cr
Profit before tax2,287 cr3,982 cr3,479 cr
Tax554 cr981 cr877 cr
Net profit (owners' share)1,725 cr2,983 cr2,599 cr
Net margin (owners' share, on revenue)7.9%11.6%10.5%
EPS (₹)58.66101.4188.36
YoY (latest quarter): total income +15.5% · net profit +16.8%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹1.41 L cr
Shareholder equity
₹76,624 cr
parent shareholders
Total debt
₹22,781 cr
Cash
₹354 cr
Cash flow · H1 FY26
Operating
₹5,567 cr
Investing
₹-3,303 cr
Financing
₹-2,621 cr
Peer comparison
Cement & Cement Products · by market value
CompanyPriceMarket capP/E
UltraTech Cement Limitedthis company₹10,764₹3.17 L cr30.5
Grasim Industries Limited₹3,173₹2.16 L cr25.1
Ambuja Cements Limited₹383₹95,238 cr41.3
SHREE CEMENT LIMITED₹21,960₹79,232 cr37.4
JK Cement Limited₹5,027₹38,844 cr35.0
Dalmia Bharat Limited₹1,693₹32,173 cr42.2
ACC Limited₹1,233₹23,171 cr39.4
The Ramco Cements Limited₹859₹20,297 cr162.7
JSW Cement Limited₹117₹15,750 cr24.3
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
2.23%
trailing 12 months
Dividend / share (TTM)
₹240
Last dividend
₹240
ex 30 Jul 2026
ActionDetailEx-date
Dividend₹240 / share30 Jul 2026
Dividend₹77.5 / share25 Jul 2025
Dividend₹70 / share30 Jul 2024
Dividend₹38 / share27 Jul 2023
Dividend₹38 / share2 Aug 2022
Dividend₹37 / share2 Aug 2021
Who owns it · 2026-06-30
No pledge
Promoter
59.3%
FII / Foreign
12.9%
DII / Domestic
19.7%
Retail / others
7.9%
Promoter stake down 0.6% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtBirla Group Holdings Private Limited · Promoter Group124 May 24
BoughtMr. K. Sridhar · Employees/Designated Employees590 · ₹23.7 L17 Aug 21
BoughtShailendra Gupta · Employees/Designated Employees462 · ₹18.5 L13 Aug 21
Bulk / block deals
short · NSE13 Sep 26
short · NSE10127 Aug 26
short · NSE4026 Aug 26
Stake changes
BoughtBirla Group Holdings Private Limited · promoter→ 0.00% · 124 May 24
SoldAberdeen Standard Investments (Asia) Limited (formerly known as "Aberdeen Asset Management Asia Limited") on behalf of funds advised/ managed and its related companies within the Group→ 3.29% · 1.14 L29 Jan 20
BoughtPilani Investment and Industries Corporation Ltd · promoter→ 1.60% · 46.22 L16 Oct 19
What shareholders were asked to approve
1 proposal passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 17 Aug 2026
See the official result
1
Adoption of Audited Financial Statements
Backed by 99% of shareholders other than promotersneeded 50%
8.70 cr votes for, 7.76 L against · 1% of mutual funds and other big investors said no
2
Declaration of Dividend
Backed by 100% of shareholders other than promotersneeded 50%
8.92 cr votes for, 450 against · 0% of mutual funds and other big investors said no
3
Re-appointment of Mrs. Rajashree Birla (DIN: 00022995) as Non-Executive Director, who retires from office by rotation and being eligible, offers herself for re-appointment
⚑ Passed only because promoters voted yes
Backed by 68% of shareholders other than promotersneeded 75%
6.02 cr votes for, 2.89 cr against · 37% of mutual funds and other big investors said no
4
Appointment of Mr. Vikram Bhalla (DIN: 01492081) as an Independent Director
Backed by 100% of shareholders other than promotersneeded 75%
8.89 cr votes for, 2.82 L against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 25 named members
owning 59.3% between them · as of 2026-06-30
Grasim Industries Limited56.11%
Pilani Investment and Industries Corporation Limited1.50%
PT. Indo Bharat Rayon0.78%
Hindalco Industries Limited0.43%
Shri Kumar Mangalam Birla0.21%
Thai Rayon Public Co. Ltd.0.07%
Aditya Birla Real Estate Limited0.05%
PT. Sunrise Bumi Textiles0.05%
Business done with them
FY2025 · 1 of the group
The company paid ₹1,171 cr to companies in the promoter group last year — about 1.5% of its ₹75,955 cr revenue and received ₹48 cr back from them.
GRASIM INDUSTRIES LTD
Other payments to them · Refer textual information
also owns 56.11% of the company
₹1,157 cr
company paid
GRASIM INDUSTRIES LTD
Provided services to them · Refer textual information
also owns 56.11% of the company
₹25 cr
company received
GRASIM INDUSTRIES LTD
Sold goods to them · Refer textual information
also owns 56.11% of the company
₹22 cr
company received
GRASIM INDUSTRIES LTD
Bought goods from them · Refer textual information
also owns 56.11% of the company
₹12 cr
company paid
GRASIM INDUSTRIES LTD
Paid them for services · Refer textual information
also owns 56.11% of the company
₹98 L
company paid
GRASIM INDUSTRIES LTD
Bought property or assets from them · Refer textual information
also owns 56.11% of the company
₹37 L
company paid
GRASIM INDUSTRIES LTD
Sold property or assets to them · Refer textual information
also owns 56.11% of the company
₹23 L
company received

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.