UltraTech Cement Ltd

₹ 11,833 0.14%

29 Apr - close price

ultratechcement.com BSE: 532538 NSE: ULTRACEMCO

About

UltraTech Cement is engaged in the manufacturing and sale of Cement and Cement related product primarily across globe.^[1]

Key Points

Market Leadership
The company is the 3rd largest cement company in the world, excluding China. It is also the largest cement manufacturer in India with a 28% share of the grey cement capacity. ^[1]

Website BSE NSE

Market Cap ₹ 3,48,712 Cr.
Current Price ₹ 11,833
High / Low ₹ 13,110 / 10,325
Stock P/E 42.2
Book Value ₹ 2,600
Dividend Yield 0.65 %
ROCE 12.8 %
ROE 11.2 %
Face Value ₹ 10.0

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Pros

Company has been maintaining a healthy dividend payout of 51.1%

Cons

Stock is trading at 4.55 times its book value
Company has a low return on equity of 10.9% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Commodities Construction Materials Cement & Cement Products Cement & Cement Products

Part of BSE Sensex Nifty 50 BSE 500 BSE 100 BSE 200 BSE Dollex 200 Nifty 500 BSE Dollex 30 Nifty 100 BSE Dollex 100 Nifty Infrastructure Nifty 200 Nifty Commodities Nifty Low Volatility 50 Nifty Shariah 25 Nifty 100 Equal Weight BSE Commodities BSE India Manufacturing Index BSE SENSEX 50 BSE 100 ESG Index (INR) BSE 250 LargeMidCap Index BSE Dividend Stability Index BSE Low Volatility Index Nifty 50 Equal Weight Nifty 100 Low Volatility 30 BSE 100 LargeCap TMC Index Nifty LargeMidcap 250 Nifty 500 Multicap 50:25:25 Nifty100 ESG Nifty Total Market Nifty Alpha Low-Volatility 30 Nifty50 Shariah Nifty500 Shariah Nifty500 Multicap Infrastructure 50:30:20 Nifty100 Enhanced ESG BSE Select Business Groups BSE 200 Equal Weight BSE Sensex Sixty 65:35 BSE Sensex Sixty BSE Sensex Equal Weight NIFTY Housing Nifty India Select 5 Corporate Groups (MAATR) Nifty500 Equal Weight Nifty Core Housing Nifty Rural Nifty500 LargeMidSmall Equal-Cap Weighted BSE India 150 BSE India Sector Leaders BSE 1000 Nifty Conglomerate 50 Nifty India FPI 150 Nifty India Infrastructure & Logistics

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	18,662	17,737	16,012	16,740	20,419	18,819	16,294	17,779	23,063	21,275	19,607	21,830	25,799
	15,340	14,688	13,461	13,485	16,305	15,801	14,269	14,885	18,456	16,869	16,518	17,919	20,201
Operating Profit	3,322	3,049	2,551	3,255	4,114	3,017	2,026	2,893	4,608	4,406	3,089	3,911	5,599
OPM %	18%	17%	16%	19%	20%	16%	12%	16%	20%	21%	16%	18%	22%
	123	177	171	146	73	83	226	247	93	142	174	46	77
Interest	191	211	234	262	261	326	393	457	475	433	459	492	487
Depreciation	762	749	798	783	815	918	980	993	1,125	1,107	1,148	1,182	1,208
Profit before tax	2,492	2,267	1,690	2,355	3,111	1,857	879	1,691	3,101	3,008	1,656	2,283	3,981
Tax %	33%	25%	24%	25%	27%	20%	19%	19%	20%	26%	25%	24%	25%
	1,670	1,690	1,280	1,775	2,259	1,493	708	1,363	2,475	2,221	1,238	1,729	3,000
EPS in Rs	57.71	58.49	44.39	61.55	78.22	51.78	24.34	47.09	84.23	75.54	41.79	58.55	101.22
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	23,306	25,153	25,375	30,979	41,462	42,430	44,726	52,599	63,240	70,908	75,955	88,512
	18,881	20,252	20,162	24,834	34,115	33,184	33,158	41,084	52,620	57,930	63,158	71,507
Operating Profit	4,425	4,901	5,212	6,145	7,347	9,246	11,568	11,514	10,620	12,979	12,797	17,004
OPM %	19%	19%	21%	20%	18%	22%	26%	22%	17%	18%	17%	19%
	350	464	648	242	350	651	619	669	507	557	397	439
Interest	587	566	640	1,238	1,778	1,992	1,486	945	823	968	1,651	1,872
Depreciation	1,203	1,377	1,348	1,848	2,451	2,723	2,700	2,715	2,888	3,145	4,015	4,644
Profit before tax	2,986	3,421	3,872	3,301	3,468	5,183	8,001	8,524	7,416	9,422	7,528	10,927
Tax %	30%	28%	30%	33%	31%	-11%	32%	14%	32%	26%	20%	25%
	2,102	2,480	2,714	2,224	2,400	5,751	5,462	7,334	5,073	7,004	6,040	8,188
EPS in Rs	76.47	90.30	98.90	80.92	87.51	199.40	189.26	254.42	175.41	242.65	204.94	277.10
Dividend Payout %	12%	11%	10%	13%	13%	7%	20%	15%	22%	29%	38%	87%

Compounded Sales Growth
10 Years:	13%
5 Years:	15%
3 Years:	12%
TTM:	17%

Compounded Profit Growth
10 Years:	13%
5 Years:	8%
3 Years:	18%
TTM:	36%

Stock Price CAGR
10 Years:	14%
5 Years:	14%
3 Years:	16%
1 Year:	0%

Return on Equity
10 Years:	12%
5 Years:	11%
3 Years:	11%
Last Year:	11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	274	274	275	275	275	289	289	289	289	289	295	295
Reserves	18,767	21,671	24,117	26,107	33,476	38,755	43,886	50,147	54,036	59,939	70,412	76,329
	9,829	10,616	8,474	19,480	25,337	23,019	21,719	11,299	11,058	11,403	24,102	23,755
	9,183	8,631	9,343	11,280	17,438	17,151	20,282	22,077	25,998	29,167	38,823	40,997
Total Liabilities	38,053	41,193	42,209	57,141	76,525	79,214	86,176	83,811	91,380	100,797	133,632	141,376
	23,343	25,309	25,904	39,715	56,645	57,151	55,412	55,488	59,579	62,878	94,564	99,260
CWIP	2,250	1,469	921	1,511	1,153	920	1,687	4,785	4,040	6,811	6,234	8,276
Investments	4,500	5,095	6,691	5,447	2,921	5,929	12,178	6,336	7,297	8,249	5,156	6,740
	7,961	9,319	8,693	10,468	15,806	15,215	16,900	17,203	20,464	22,859	27,677	27,101
Total Assets	38,053	41,193	42,209	57,141	76,525	79,214	86,176	83,811	91,380	100,797	133,632	141,376

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4,190	4,526	5,005	3,888	5,956	8,972	12,500	9,283	9,069	10,898	10,673	15,316
	-2,144	-3,673	-2,501	1,866	1,165	-4,192	-8,856	2,257	-7,188	-8,789	-15,836	-9,480
	-2,110	-844	-2,535	-5,735	-6,757	-5,076	-4,356	-12,498	-1,631	-1,926	5,076	-5,954
Net Cash Flow	-63	8	-31	18	364	-295	-712	-958	250	183	-86	-118
Free Cash Flow	1,481	2,394	3,637	2,005	4,308	7,286	10,662	3,743	2,963	2,013	1,723	5,805
CFO/OP	98%	110%	110%	77%	91%	107%	119%	94%	96%	97%	94%	98%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	26	28	25	26	25	20	21	21	22	22	28	25
Inventory Days	266	203	195	226	214	234	207	256	248	255	255	206
Days Payable	154	142	150	165	165	188	234	269	271	260	248	217
Cash Conversion Cycle	138	89	70	87	74	66	-6	9	-0	17	35	13
Working Capital Days	-82	-83	-38	-50	-48	-60	-83	-56	-56	-52	-64	-41
ROCE %	12%	13%	14%	12%	10%	12%	15%	14%	13%	15%	11%	13%

Insights

In beta

Mar 2015

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Total Installed Capacity
MTPA

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Capacity Utilization
%

Consolidated Sales Volume
Million Tonnes

Lead Distance
km

Clinker Conversion Factor
times ・Standalone data

Green Power Mix
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	59.96%	59.96%	59.96%	59.96%	59.98%	59.99%	60.00%	59.23%	59.23%	59.23%	59.28%	59.33%
	15.81%	16.65%	18.20%	17.74%	18.15%	17.95%	16.98%	15.17%	15.23%	15.33%	14.44%	13.61%
	15.95%	15.04%	13.68%	14.14%	13.83%	14.08%	15.15%	16.79%	16.85%	16.65%	17.45%	18.42%
	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%
	8.09%	8.11%	7.95%	7.92%	7.82%	7.75%	7.64%	8.57%	8.48%	8.55%	8.60%	8.41%
	0.14%	0.18%	0.18%	0.17%	0.17%	0.17%	0.19%	0.18%	0.18%	0.20%	0.18%	0.17%
No. of Shareholders	3,49,281	3,47,904	3,42,422	3,57,627	3,53,565	3,56,405	3,59,710	3,94,462	4,06,118	4,09,266	4,12,518	4,09,350

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	62.16%	61.98%	61.69%	60.04%	59.96%	59.96%	59.96%	59.96%	59.23%	59.33%
	21.87%	22.27%	20.00%	16.48%	17.28%	14.03%	14.77%	17.74%	15.17%	13.61%
	5.51%	5.78%	7.79%	14.15%	13.74%	16.39%	16.93%	14.14%	16.79%	18.42%
	0.07%	0.03%	0.04%	0.07%	0.08%	0.05%	0.05%	0.05%	0.05%	0.05%
	10.39%	9.94%	10.41%	9.18%	8.87%	9.48%	8.14%	7.92%	8.57%	8.41%
	0.00%	0.00%	0.07%	0.07%	0.07%	0.09%	0.15%	0.17%	0.18%	0.17%
No. of Shareholders	2,90,577	2,57,871	2,55,205	3,09,688	3,04,256	3,95,972	3,66,437	3,57,627	3,94,462	4,09,350

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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