ULTRACEMCOConstruction Materials

UltraTech Cement Limited

Cement & Cement Products · ISIN INE481G01011 · BSE 532538 · NSE EQ · FV ₹10
Last price
₹11,816
+0.99%today
What this company does

UltraTech Cement Limited operates in Cement & Cement Products, part of the Construction Materials sector. It booked ₹23,295 cr of revenue in its latest quarter (Q2 FY27) and kept 6.4% of sales as profit. It is the largest of 9 Cement & Cement Products companies we track, by market value.

54out of 100
Equitytale Health Score
Mixed

Healthier than 54% of listed companies we score, on all six measures of filed financials. Each measure is ranked against the 1,198–2,932 companies that reported it.

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

Price momentum
neutral
RSI (14)
67

At close. Not part of the score.

Profitability & returns39

How much profit it earns on the money it employs

Balance sheet40

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

Valuation18

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 19% vs last year
✓ Profit up 21% vs last year
✓ Promoters hold 58%
✓ No promoter shares pledged
✓ Turns profit into real cash
Watch-outs
! Thin 6.4% net margin

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 We do not publish price targets or predict returns.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
₹11,816▲ +0.99%
latest close · 2026-11-04
1-year return
+63.0%
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 ratio58.2High
LowAverageHigh
P/B ratio4.73High
Below bookModerateHigh
EV / EBITDA24.6High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity8.1%Fair
WeakFairStrong ▸15%
Return on capital9.7%Fair
WeakFairStrong
Net margin6.4%Decent
ThinDecentStrong
EBITDA margin16.4%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.37Comfortable
LowModerateHigh ▸1
Interest cover4.7×Okay
RiskyOkayStrong ▸5×
Current ratio0.68Tight
Tight ◂1HealthyAmple
More figures
Market cap
₹3.48 L cr
Book value
₹2,497
EPS
₹50.78
latest quarter
Net debt
₹28,267 cr
owes more than its cash
Enterprise value
₹3.76 L cr
EBITDA
₹15,304 cr
annualised
EBIT
₹10,450 cr
annualised
Operating margin
11.2%
Return on assets
4.1%
Earnings yield
1.72%
P/S
3.74
Sales / share
₹3,162.1
Tax rate
27.0%
Face value
₹10
Shares
29.5 cr
Working capital
₹-11,938 cr
Current assets
₹25,944 cr
Current liabilities
₹37,882 cr
Delivery %
52.1%
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 2026-11-04.

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–₹3,362, midpoint ₹2,239

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 · Q2 FY27 (consolidated)
Revenue from Operations₹23,295 cr
Other Income₹111 cr
Total Income₹23,406 cr
Cost of Materials₹4,208 cr
Purchases of Stock-in-Trade₹841 cr
Inventory Change (±)₹-388 cr
Employee Benefit Expense₹1,163 cr
Finance Costs₹552 cr
Depreciation & Amortisation₹1,213 cr
Other Expenses₹13,749 cr
Total Expenses₹21,339 cr
Exceptional Items₹-6 cr
Profit before Tax₹2,061 cr
Tax Expense₹557 cr
Share of JV / Associates₹-2 cr
Net Profit₹1,501 cr
Net margin on total income6.4%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹4,662 cr19.9%
Employee benefit expense₹1,163 cr5.0%
Finance costs₹552 cr2.4%
Depreciation & amortisation₹1,213 cr5.2%
Other expenses₹13,749 cr58.8%
Tax expense₹557 cr2.4%
Profit for the period₹1,501 cr6.4%
Total income ₹23,406 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue25,799 cr24,648 cr23,295 cr
Total income25,887 cr24,778 cr23,406 cr
Expenses21,894 cr21,286 cr21,339 cr
Profit before tax3,982 cr3,479 cr2,061 cr
Tax981 cr877 cr557 cr
Net profit (owners' share)2,983 cr2,599 cr1,494 cr
Net margin (owners' share, on revenue)11.6%10.5%6.4%
EPS (₹)101.4188.3650.78
YoY (latest quarter): total income +18.3% · net profit +21.3%
Balance sheet & cash flow · as of Sep 2026
Low debt
Total assets
₹1.45 L cr
Shareholder equity
₹73,587 cr
parent shareholders
Total debt
₹28,411 cr
Cash
₹144 cr
Cash flow · H1 FY27
Operating
₹6,910 cr
Investing
₹-4,472 cr
Financing
₹-2,652 cr
Peer comparison
Cement & Cement Products · by market value
CompanyPriceMarket capP/E
UltraTech Cement Limitedthis company₹11,700₹3.45 L cr57.6
Grasim Industries Limited₹3,090₹2.10 L cr24.4
Ambuja Cements Limited₹369₹91,672 cr118.2
SHREE CEMENT LIMITED₹23,910₹86,267 cr82.4
JK Cement Limited₹5,085₹39,289 cr56.8
Dalmia Bharat Limited₹1,381₹26,247 cr—
ACC Limited₹1,170₹21,998 cr59.1
The Ramco Cements Limited₹745₹17,604 cr141.1
JSW Cement Limited₹122₹16,499 cr48.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
2.03%
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 · 2026-09-30
No pledge
Promoter
58.5%
FII / Foreign
12.7%
DII / Domestic
20.9%
Retail / others
7.8%
Promoter stake down 1.5% 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— · NSE129 Oct 26
short— · NSE327 Oct 26
short— · NSE322 Oct 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.

Postal ballot · 11 Oct 2026
See the official result
1
Re-appointment of Mr. Vivek Agrawal (DIN: 10599212) as Whole-time Director and Chief Marketing Officer
Backed by 98% of shareholders other than promotersneeded 50%
8.81 cr votes for, 22.27 L against · 3% 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 58.5% between them · as of 2026-09-30
Grasim Industries Limited56.11%
PT. Indo Bharat Rayon0.78%
Pilani Investment and Industries Corporation Limited0.65%
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
FY2026 · 1 of the group
The company paid ₹1,325 cr to companies in the promoter group last year — about 1.5% of its ₹88,512 cr revenue and received ₹71 cr back from them.
GRASIM INDUSTRIES LTD
Other payments to them · Refer textual information
also owns 56.11% of the company
₹1,281 cr
company paid
GRASIM INDUSTRIES LTD
Sold goods to them · Refer textual information
also owns 56.11% of the company
₹50 cr
company received
GRASIM INDUSTRIES LTD
Bought goods from them · Refer textual information
also owns 56.11% of the company
₹42 cr
company paid
GRASIM INDUSTRIES LTD
Provided services to them · Refer textual information
also owns 56.11% of the company
₹21 cr
company received
GRASIM INDUSTRIES LTD
Paid them for services · Refer textual information
also owns 56.11% of the company
₹69 L
company paid
GRASIM INDUSTRIES LTD
Bought property or assets from them · Refer textual information
also owns 56.11% of the company
₹44 L
company paid
GRASIM INDUSTRIES LTD
Sold property or assets to them · Refer textual information
also owns 56.11% of the company
₹35 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.