UltraTech Cement Ltd.

NSE: ULTRACEMCO · Construction Materials

₹12,450.00+1.63%06 Nov 2026

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Instant answers about UltraTech Cement Ltd. — computed from its filings, no language model

Market cap₹3,66,877 cr

Current price₹12,450.00

High / Low₹13,052 / ₹10,362

P/E41.7

P/B4.99

Book value₹2,497.2

ROE12.0%

ROCE13.5%

Debt / equity0.39

Dividend yield0.62%

EPS (TTM)₹298.67

Face value₹10

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 8 periods

	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	37,379	42,125	44,726	52,599	63,240	70,908	75,955	88,512
EBITDA	6,788	9,284	11,568	11,514	10,620	12,969	12,557	17,020
Operating margin	18.2%	22.0%	25.9%	21.9%	16.8%	18.3%	16.5%	19.2%
Interest	1,549	1,986	1,486	945	823	968	1,651	1,872
Depreciation	2,140	2,702	2,700	2,715	2,888	3,145	4,015	4,644
Profit before tax	3,538	5,244	7,855	8,363	7,412	9,400	7,539	10,943
Tax	1,107	-568	2,539	1,190	2,343	2,418	1,488	2,739
Net profit	2,435	5,815	5,463	7,344	5,073	7,005	6,039	8,166
EPS ₹	88.72	201.61	189.40	254.64	175.63	243.05	205.30	277.62
Operating cash flow	—	—	—	9,283	9,069	10,898	10,673	15,316
Capex	—	—	—	5,613	6,200	9,006	9,129	9,678
Dividend paid	—	—	—	1,065	1,091	1,094	2,012	2,273
Total assets	76,537	79,220	86,184	—	91,387	1,00,802	1,33,697	1,41,376
Equity	28,362	39,044	44,175	—	54,380	60,227	70,707	76,624

Quarterly performance

last 32 quarters · ₹ crore

showing latest 8 of 32 periods

	SEP '18	DEC '18	MAR '19	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	8,151	9,390	10,905	10,178	9,620	10,354	10,746	7,634	10,354	12,254	14,406	11,830	12,017	12,985	15,767	13,893	15,521	18,662	17,737	16,012	16,740	20,419	18,070	15,635	17,193	23,063	21,275	19,607	21,830	25,799	24,648	23,295
Operating profit	1,226	1,445	2,332	2,708	1,918	1,973	2,443	2,075	2,695	3,094	3,690	3,307	2,715	2,419	3,073	1,867	2,336	3,322	3,049	2,551	3,255	4,114	3,039	2,018	2,887	4,618	4,410	3,094	3,915	5,600	5,015	3,721
Operating margin	15.0%	15.4%	21.4%	26.6%	19.9%	19.1%	22.7%	27.2%	26.0%	25.3%	25.6%	28.0%	22.6%	18.6%	19.5%	13.4%	15.0%	17.8%	17.2%	15.9%	19.4%	20.1%	16.8%	12.9%	16.8%	20.0%	20.7%	15.8%	17.9%	21.7%	20.3%	16.0%
Other income	220	103	126	131	154	168	198	279	135	268	60	205	140	70	92	146	127	122	174	167	140	136	166	221	244	102	180	174	136	88	130	111
Interest	354	415	434	441	507	471	505	393	357	356	377	326	230	182	206	200	215	191	211	234	262	261	256	317	382	475	433	459	492	487	453	552
Depreciation	536	557	547	599	668	673	672	646	672	674	698	660	677	674	703	708	723	762	749	798	783	815	843	904	917	1,125	1,107	1,148	1,182	1,208	1,201	1,213
Profit before tax	557	576	1,477	1,799	890	997	1,463	1,157	1,465	2,332	2,637	2,526	1,947	1,633	2,255	1,105	1,524	2,491	2,263	1,686	2,349	3,101	2,139	1,018	1,833	3,112	3,012	1,662	2,287	3,982	3,479	2,061
Tax	181	186	463	591	311	286	-1,777	360	566	747	865	827	637	-76	-198	344	465	822	577	409	580	852	447	191	358	626	787	418	554	981	877	557
Net profit	377	315	1,033	1,208	579	712	3,243	797	1,234	1,584	1,775	1,703	1,310	1,710	2,620	756	1,058	1,670	1,688	1,281	1,777	2,258	1,697	820	1,470	2,482	2,226	1,232	1,725	2,983	2,599	1,494
EPS ₹	13.72	14.34	37.63	44.01	20.08	24.68	112.43	27.65	42.80	54.93	61.54	59.02	45.54	59.22	90.85	26.21	36.70	57.78	58.57	44.47	61.66	78.35	58.87	28.45	50.99	84.38	75.67	41.87	58.66	101.41	88.36	50.78
Revenue YoY	—	—	—	—	18.0%	10.3%	-1.5%	-25.0%	7.6%	18.4%	34.1%	55.0%	16.1%	6.0%	9.5%	15.6%	19.5%	18.4%	—	15.3%	7.9%	9.4%	1.9%	-2.4%	2.7%	13.0%	17.7%	25.4%	27.0%	11.9%	15.9%	18.8%
Profit YoY	—	—	—	—	53.7%	126.1%	214.0%	-34.0%	113.2%	122.5%	-45.3%	113.5%	6.2%	7.9%	47.6%	-42.3%	-38.1%	-36.3%	—	69.6%	67.9%	35.2%	0.5%	-36.0%	-17.3%	9.9%	31.2%	50.2%	17.4%	20.2%	16.8%	21.3%

Earlier results (standalone, Sep '07 – Jun '18)

₹ crore · from BSE, before the NSE XBRL filings begin

UltraTech Cement Ltd. reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

showing latest 8 of 10 periods

	FY09†	FY10†	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†	FY18†
Revenue	6,425	7,119	13,351	18,427	20,172	20,280	22,936	24,109	26,300	30,684
Operating profit	1,748	2,037	2,683	4,243	4,674	3,818	4,195	4,616	4,969	5,883
Operating margin	27.2%	28.6%	20.1%	23.0%	23.2%	18.8%	18.3%	19.1%	18.9%	19.2%
Other income	62	57	146	281	306	329	372	235	660	595
Interest	126	118	277	228	210	319	547	505	571	1,186
Depreciation	323	388	766	903	945	1,052	1,133	1,289	1,268	1,764
Profit before tax	1,361	1,588	1,786	3,393	3,505	2,776	2,886	3,057	3,776	3,302
Tax	384	495	382	947	850	631	872	882	1,148	1,071
Net profit	977	1,093	1,404	2,446	2,655	2,144	2,015	2,175	2,628	2,231

Quarters

showing latest 8 of 44 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†	MAR '18†	JUN '18†
Revenue	1,173	1,382	1,602	1,496	1,417	1,637	1,875	1,969	1,558	1,669	1,923	1,810	3,244	3,741	4,556	4,404	3,981	4,651	5,392	5,091	4,727	4,882	5,472	4,980	4,522	4,818	5,960	5,692	5,429	5,601	6,213	6,097	5,682	5,826	6,504	6,233	6,196	6,372	7,499	7,520	6,571	7,590	9,002	8,655
Operating profit	330	468	488	446	317	437	548	733	487	401	416	426	438	733	1,087	1,227	652	1,044	1,319	1,308	1,035	1,049	1,282	1,072	679	796	1,271	1,050	877	957	1,310	1,152	989	1,122	1,353	1,423	1,155	1,113	1,278	1,560	1,351	1,269	1,703	1,624
Operating margin	28.1%	33.9%	30.5%	29.8%	22.4%	26.7%	29.2%	37.2%	31.3%	24.0%	21.6%	23.5%	13.5%	19.6%	23.9%	27.9%	16.4%	22.4%	24.5%	25.7%	21.9%	21.5%	23.4%	21.5%	15.0%	16.5%	21.3%	18.5%	16.2%	17.1%	21.1%	18.9%	17.4%	19.3%	20.8%	22.8%	18.6%	17.5%	17.0%	20.7%	20.6%	16.7%	18.9%	18.8%
Other income	26	20	27	27	7	14	14	18	14	12	13	29	39	35	44	27	33	76	145	69	41	96	100	166	38	68	58	213	74	33	52	100	44	53	38	150	172	97	240	165	168	156	106	73
Interest	19	17	19	25	31	36	34	33	30	26	28	28	85	82	83	73	67	30	59	50	60	52	48	66	89	90	74	100	143	154	150	138	130	126	111	152	137	129	153	128	376	347	335	336
Depreciation	58	58	65	71	81	81	91	94	97	99	99	102	218	219	227	223	223	224	233	228	232	239	246	252	257	264	278	264	302	278	288	283	333	324	349	303	314	316	336	310	499	474	481	486
Profit before tax	279	413	431	377	213	335	437	624	374	289	301	325	173	468	821	958	395	867	1,172	778	783	854	1,089	919	371	509	976	899	505	558	924	831	570	726	930	1,118	877	766	1,016	1,287	645	603	767	875
Tax	93	133	148	112	49	96	128	207	123	93	72	82	58	149	94	275	116	250	305	0	233	254	363	247	107	139	138	273	95	193	309	240	176	218	249	343	276	202	328	396	213	182	279	277
Net profit	186	279	283	265	164	238	309	418	251	196	229	243	116	319	727	683	279	617	867	778	550	601	726	673	264	370	838	626	410	364	615	591	394	509	681	775	601	563	688	891	431	421	488	598
EPS ₹	14.93	22.45	22.72	21.29	13.19	19.15	24.86	33.56	20.15	15.75	18.36	19.50	4.22	11.64	26.52	24.93	10.18	22.51	31.65	28.40	20.07	21.92	26.49	24.53	9.63	13.49	30.56	22.81	14.95	13.28	22.41	21.53	14.35	18.53	24.83	28.24	21.90	20.53	25.08	32.44	15.71	15.36	17.78	21.79
Revenue YoY	—	—	—	—	20.7%	18.4%	17.1%	31.6%	9.9%	2.0%	2.5%	-8.1%	108.3%	124.1%	137.0%	143.4%	22.7%	24.3%	18.3%	15.6%	18.8%	5.0%	1.5%	-2.2%	-4.3%	-1.3%	8.9%	14.3%	20.1%	16.3%	4.3%	7.1%	4.6%	4.0%	4.7%	2.2%	9.0%	9.4%	15.3%	20.7%	6.1%	19.1%	20.0%	15.1%
Profit YoY	—	—	—	—	-11.7%	-14.7%	9.4%	57.6%	52.8%	-17.8%	-26.1%	-41.9%	-53.9%	62.7%	218.0%	181.4%	140.9%	93.4%	19.3%	13.9%	97.2%	-2.6%	-16.3%	-13.6%	-52.0%	-38.5%	15.4%	-7.0%	55.3%	-1.5%	-26.6%	-5.6%	-3.9%	39.6%	10.8%	31.2%	52.6%	10.8%	1.0%	14.9%	-28.3%	-25.2%	-29.1%	-32.8%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 26 periods

	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
ROE	10.3%	11.1%	12.5%	14.7%	13.7%	15.3%	17.6%	12.2%	14.3%	14.4%	14.7%	16.6%	9.5%	10.1%	11.4%	11.6%	11.6%	10.7%	10.2%	9.1%	9.9%	10.3%	10.6%	10.7%	11.1%	12.0%
ROCE	11.5%	12.4%	13.3%	11.7%	10.5%	11.2%	13.3%	14.0%	16.0%	16.6%	15.2%	14.4%	12.8%	13.3%	14.6%	14.7%	14.6%	12.6%	12.0%	10.2%	11.3%	11.8%	12.4%	12.9%	13.4%	13.5%
Net margin	7.6%	7.8%	8.6%	14.0%	13.9%	15.3%	16.7%	12.1%	12.9%	12.6%	12.7%	14.0%	7.9%	8.4%	9.3%	9.9%	9.8%	9.2%	8.8%	8.7%	9.1%	9.1%	8.9%	9.2%	9.3%	9.2%
EBITDA margin	20.0%	21.0%	21.8%	22.1%	21.9%	23.5%	25.1%	25.9%	26.2%	25.4%	23.7%	21.9%	16.1%	16.6%	17.6%	18.3%	18.2%	17.5%	16.9%	17.0%	18.1%	18.5%	18.7%	19.2%	19.2%	19.1%
Debt / equity	0.86	0.86	0.86	0.55	0.55	0.55	0.55	0.46	0.46	0.46	0.46	0.46	0.18	0.18	0.18	0.17	0.17	0.26	0.26	0.33	0.33	0.34	0.34	0.30	0.30	0.39
Interest coverage	3.68	3.64	3.79	3.68	3.40	3.95	4.98	6.12	7.33	8.32	8.84	9.85	10.03	10.35	10.79	10.71	10.16	8.85	7.66	6.67	6.58	6.50	6.42	6.85	7.03	6.95
Asset turnover	0.50	0.52	0.54	0.52	0.48	0.49	0.52	0.52	0.57	0.59	0.59	0.61	0.72	0.72	0.74	0.70	0.71	0.66	0.66	0.55	0.58	0.59	0.62	0.63	0.65	0.66

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 16 periods

	MAR '15‡	MAR '16‡	MAR '17‡	MAR '18‡	MAR '19‡	MAR '20‡	MAR '21‡	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26	SEP '26
Share capital	274	274	275	275	275	289	289	289	289	289	289	289	295	295	295	295
Other equity / reserves	18,767	21,671	24,117	26,107	28,088	38,755	43,886	51,197	54,091	55,858	59,939	61,076	70,412	71,738	76,329	73,293
Total equity	19,041	21,946	24,392	26,381	28,362	39,044	44,175	51,486	54,380	56,147	60,227	61,365	70,707	72,033	76,624	73,587
Borrowings	7,557	7,372	7,450	18,627	24,319	21,474	20,488	11,680	9,901	10,319	10,298	15,922	23,031	24,246	22,781	28,411
Current liabilities	11,020	11,618	8,329	11,515	—	16,341	20,348	20,055	23,432	24,383	26,906	28,393	32,365	34,904	33,832	37,882
Non-current liabilities	7,983	7,624	9,489	19,238	—	23,588	21,411	14,694	13,575	13,404	13,613	16,448	27,439	26,434	26,832	29,514
Total assets	38,063	41,203	42,219	57,151	76,537	79,220	86,184	86,233	91,387	93,991	1,00,802	1,07,611	1,33,697	1,37,305	1,41,376	1,45,099
Property, plant & equipment	22,210	23,882	24,432	35,638	44,643	44,008	42,291	43,291	46,480	47,727	50,126	54,567	76,015	77,472	80,283	83,658
Capital work-in-progress	2,245	1,468	921	1,510	1,149	910	1,681	5,672	4,035	5,306	6,783	6,410	6,188	7,206	8,276	7,655
Investments	4,500	2,365	6,683	5,436	2,903	5,905	12,149	3,617	7,297	6,341	8,249	7,579	5,156	5,098	6,740	5,232
Inventories	2,949	2,455	2,401	3,268	4,099	4,183	4,018	6,930	6,612	7,646	8,330	9,028	9,563	10,471	9,694	11,400
Receivables	1,659	1,928	1,757	2,221	2,787	2,383	2,572	3,306	3,867	3,880	4,278	4,363	5,890	5,818	6,029	6,315
Cash & equivalents	371	90	59	77	441	147	177	42	370	186	554	183	467	112	354	144

Cash flow

annual · ₹ crore · line = free cash flow

showing latest 5 of 10 periods

	FY15‡	FY16‡	FY17‡	FY18‡	FY19‡	FY22	FY23	FY24	FY25	FY26
Cash from operations	4,190	4,526	5,005	3,888	5,160	9,283	9,069	10,898	10,673	15,316
Cash from investing	-2,166	-3,727	-2,480	1,862	1,206	2,257	-7,187	-8,788	-16,504	-9,480
Cash from financing	-2,110	-844	-2,535	-5,735	-6,045	-11,596	-1,631	-1,926	5,076	-5,954
Capex	2,722	2,150	1,398	2,096	1,661	5,613	6,200	9,006	9,129	9,678
Free cash flow	1,469	2,376	3,607	1,791	3,499	3,670	2,868	1,892	1,544	5,638
Dividends paid	253	297	312	334	346	1,065	1,091	1,094	2,012	2,273

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹83,658 cr58%

CWIP

₹7,655 cr5%

Investments

₹5,232 cr4%

Inventories

₹11,400 cr8%

Receivables

₹6,315 cr4%

Cash & equivalents

₹144 cr0%

Other assets

₹30,694 cr21%

Peer comparison

largest in Construction Materials · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
UltraTech Cement Ltd.	3,66,877	12,450.00	41.7	4.99	12.0%
Grasim Industries Ltd.	2,19,613	3,227.00	38.6	2.12	5.5%
Ambuja Cements Ltd.	97,064	390.60	34.6	1.63	4.7%
Shree Cement Ltd.	90,561	25,100.00	57.2	3.80	6.6%
J.K. Cement Ltd.	40,488	5,239.80	42.3	5.51	13.0%
Dalmia Bharat Ltd.	27,936	1,470.30	57.0	1.55	2.7%
ACC Ltd.	23,241	1,236.20	26.3	1.12	4.3%
The Ramco Cements Ltd.	19,314	817.35	31.8	2.38	7.5%
JSW Cement Ltd.	16,693	123.41	22.0	2.46	11.2%
Nuvoco Vistas Corporation Ltd.	12,251	343.00	29.5	1.28	4.3%

StoxGud checklist: Neutral setup · 5/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month+16.8%

6 months+2.5%

1 year+3.8%

3Y CAGR+12.9%

5Y CAGR+8.7%

10Y CAGR+12.3%

50-day avg₹11,102.60

200-day avg₹11,619.45

RSI (14)81

Long-term financials (FY12–FY13)

from published annual reports

Year	Revenue	Profit before tax	Net profit
FY13	₹21,319 Cr	₹3,867 Cr	₹2,688 Cr
FY12	₹19,236 Cr	₹3,345 Cr	₹2,397 Cr

Years before FY17 follow the older Indian GAAP standard, so they are not exactly comparable with recent years.

Compare UltraTech Cement Ltd. with

UltraTech Cement vs Grasim Industries UltraTech Cement vs Ambuja Cements UltraTech Cement vs Shree Cement UltraTech Cement vs J.K. Cement

FAQs

What is the share price of UltraTech Cement Ltd.?

UltraTech Cement Ltd. (ULTRACEMCO) closed at ₹12,450.00 on NSE on 06 Nov 2026.

What is the market cap of UltraTech Cement Ltd.?

₹3,66,877 crore at the latest close.

What is the P/E ratio of UltraTech Cement Ltd.?

41.7, on trailing-twelve-month earnings from its filings.

How fast is UltraTech Cement Ltd. growing?

UltraTech Cement Ltd.: revenue has compounded at 11.9% a year over three years; net profit at 17.2% a year. Latest-quarter revenue is up 18.8% year on year, profit up 21.3%.

How profitable is UltraTech Cement Ltd.?

On a trailing-twelve-month basis return on equity is 12.0%, return on capital employed 13.5%, operating margin 19.1%, net margin 9.2%.

How much debt does UltraTech Cement Ltd. have?

UltraTech Cement Ltd. is lightly geared: debt to equity is 0.39 with borrowings of ₹28,411 cr against cash of ₹144 cr (balance sheet of 2026-09-30). Operating profit covers interest 7.0 times.

Financials parsed from UltraTech Cement Ltd.'s own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from SEP '18, annual from FY19, balance sheet from Mar '15. * = derived (full year or half year minus earlier quarters). ‡ = balance sheet / cash flow read from the company's published annual report (same basis), for years before the NSE filings carry them; each one checked to add up. Information only, not investment advice.