Ultratech Cement Limited
NSE: ULTRACEMCO · Cement & Cement Products · sector
₹11,180.00NSE close 2026-10-26
Key numbers
Market cap₹3,29,452 cr
Price₹11,180.00
52w high / low₹13,110 / ₹10,325
P/E37.4xSector median 21.5x
P/B4.5xSector median 1.4x
Book value₹2,497.2
Dividend yield0.69%Sector median 0.64%
ROE12.1%Sector median 7.3%
ROCE13.5%Sector median 6.3%
OPM19.0%Sector median 10.9%
Debt / equity0.39xSector median 0.48x
EV/EBITDA19.5xSector median 14.1x
Interest cover7.0x
Current ratio0.68x
Sales growth 3y+11.9%Sector median +1.9%
Profit growth 3y+17.2%Sector median +16.8%
PEG2.27x
Last 12 months to Sep 2026, Consolidated. "Sector median" = middle value of 38 companies in Cement & Cement Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹5,120 cr vs borrowings ₹22,781 cr (FY26): borrowings are higher by ₹17,661 cr.
- Operating profit covered interest 7.0x in the last 12 months.
- No promoter shares are pledged.
- Promoter holding fell by 0.75 percentage points in a year, to 58.48% (2026-09-30).
- Operating cash flow was below net profit in 0 of the last 5 years.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 5% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹11,180.00 on 2026-10-26: -14.7% from the 52-week high, +8.3% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹12,963.00 · low ₹10,340.80
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 17,193 | 23,063 | 21,275 | 19,607 | 21,830 | 25,799 | 24,648 | 23,295 |
| EBITDA | 2,887 | 4,609 | 4,372 | 3,094 | 3,826 | 5,589 | 5,002 | 3,715 |
| OPM % | 16.8% | 20.0% | 20.5% | 15.8% | 17.5% | 21.7% | 20.3% | 15.9% |
| Other income | 244 | 102 | 180 | 174 | 136 | 88 | 130 | 111 |
| Net profit | 1,470 | 2,482 | 2,226 | 1,232 | 1,725 | 2,983 | 2,599 | 1,494 |
| EPS (₹) | 50.99 | 84.38 | 75.67 | 41.87 | 58.66 | 101.41 | 88.36 | 50.78 |
| Revenue YoY | +27.0% | +11.9% | +15.9% | +18.8% | ||||
| Profit YoY | +17.4% | +20.2% | +16.8% | +21.3% |
Consolidated figures where filed. Latest quarter Sep 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 52,599 | 63,240 | 70,908 | 75,955 | 88,512 | 95,572 |
| EBITDA | 11,514 | 10,620 | 12,897 | 12,460 | 16,882 | 18,133 |
| Net profit | 7,344 | 5,073 | 7,005 | 6,039 | 8,166 | 8,801 |
| EPS (₹) | 254.64 | 175.63 | 243.05 | 205.30 | 277.62 | 299.21 |
| Revenue growth | +20.2% | +12.1% | +7.1% | +16.5% | +17.8% | |
| Profit growth | -30.9% | +38.1% | -13.8% | +35.2% | +18.8% | |
| Dividend / share (₹) | 37.00 | 38.00 | 38.00 | 70.00 | 77.50 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +11.9% | +14.6% | +17.8% |
| Net profit | +17.2% | +8.4% | +18.8% |
| EPS | +16.5% | +7.9% | – |
| Share price | – | -0.1% (2y) | -12.1% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 54,380 | 60,227 | 70,707 | 76,624 |
| Borrowings | – | 9,901 | 10,298 | 23,031 | 22,781 |
| Cash & equivalents | – | 6,986 | 6,268 | 4,532 | 5,120 |
| Total assets | – | 91,387 | 1,00,802 | 1,33,697 | 1,41,376 |
| Fixed assets | – | 46,480 | 50,126 | 76,015 | 80,283 |
| Capital work in progress | – | 4,035 | 6,783 | 6,188 | 8,276 |
| Investments | – | 584 | 1,795 | 1,997 | 2,684 |
| Receivables | – | 3,867 | 4,278 | 5,890 | 6,029 |
| Inventory | – | 6,612 | 8,330 | 9,563 | 9,694 |
| Payables | – | 7,209 | 8,478 | 9,327 | 10,237 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 9,283 | 9,069 | 10,898 | 10,673 | 15,316 |
| Cash from investing | 2,257 | -7,187 | -8,788 | -16,504 | -9,480 |
| Cash from financing | -11,596 | -1,631 | -1,926 | 5,076 | -5,954 |
| Capex | 5,613 | 6,200 | 9,006 | 9,129 | 9,678 |
| Free cash flow | 3,670 | 2,868 | 1,892 | 1,544 | 5,638 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 9.3% | 11.6% | 8.5% | 10.7% |
| ROCE % | – | 12.8% | 14.7% | 9.8% | 12.9% |
| Debtor days | – | 22 | 22 | 28 | 25 |
| Inventory days | – | 248 | 255 | 255 | 206 |
| Payable days | – | 271 | 260 | 248 | 217 |
| Cash conversion cycle (days) | – | -1 | 17 | 35 | 14 |
| Working capital days | – | -16 | -19 | -42 | -36 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 58.48% |
| FIIs | 12.69% |
| DIIs | 20.86% |
| of which Mutual funds | 16.40% |
| of which Insurance | 4.05% |
| Government | 0.05% |
| Public (non-institutions) | 7.71% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 60.00% | 59.23% | 59.23% | 59.23% | 59.29% | 59.33% | 59.33% | 58.48% |
| Promoter group | % |
|---|---|
| Grasim Industries Limited | 56.11% |
| PT. Indo Bharat Rayon | 0.78% |
| Pilani Investment and Industries Corporation Limited | 0.65% |
| Hindalco Industries Limited | 0.43% |
| Shri Kumar Mangalam Birla | 0.21% |
| Thai Rayon Public Co. Ltd. | 0.07% |
| Aditya Birla Real Estate Limited | 0.05% |
| PT. Sunrise Bumi Textiles | 0.05% |
| Birla Institute of Technology and Science | 0.03% |
| PT. Elegant Textile Industry | 0.03% |
| Birla Group Holdings Pvt. Limited | 0.02% |
| Padmavati Investment Private Limited | 0.02% |
| Smt. Rajashree Birla | 0.01% |
| Century Enka Limited | 0.01% |
| Aditya Vikram Kumarmangalam Birla HUF | 0.00% |
| Public holders above 1% | % |
|---|---|
| Lici NEW Endowment Plus-secured Fund | 3.72% |
| ICICI Prudential Nifty 50 Index Fund | 2.90% |
| NPS TR AC ICICI Pension Fund Scheme E - Tier I | 2.69% |
| SBI Arbitrage Fund | 1.77% |
| Kotak Mahindra Trustee Co Ltd A/C Kotak Nifty 100 | 1.04% |
4,16,451 shareholders. Pledged: 0.00% of promoter shares.
Peers in Cement & Cement Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| ULTRACEMCO | ₹3,29,452 cr | 37.4x | 4.5x | 12.1% | 13.5% | 19.0% | +11.9% | 0.69% |
| GRASIM | ₹2,00,762 cr | 35.1x | 1.9x | 5.7% | 5.9% | 14.2% | +14.2% | 0.83% |
| AMBUJACEM | ₹91,448 cr | 20.8x | 1.5x | 7.8% | 4.8% | 14.6% | +1.4% | 0.62% |
| SHREECEM | ₹84,932 cr | 52.1x | 3.6x | 7.3% | 9.6% | 20.9% | +5.5% | 0.60% |
| JKCEMENT | ₹38,133 cr | 40.3x | 5.4x | 14.4% | 13.7% | 15.9% | +12.2% | 0.30% |
| DALBHARAT | ₹30,890 cr | 32.6x | 1.7x | 2.3% | 6.9% | 18.5% | +3.0% | 0.55% |
| ACC | ₹21,934 cr | 11.5x | 1.1x | 9.8% | 9.2% | 10.4% | +5.3% | 0.64% |
| RAMCOCEM | ₹17,620 cr | 27.3x | 2.2x | 8.3% | 10.1% | 20.7% | +3.4% | 0.27% |
| JSWCEMENT | ₹15,880 cr | 20.5x | 2.4x | 11.6% | 9.8% | 17.2% | – | – |
| NUVOCO | ₹12,160 cr | 29.4x | 1.3x | 4.4% | 6.8% | 15.9% | +2.3% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-07-30 | Dividend | Dividend - Rs 240 Per Share |
| 2025-07-25 | Dividend | Dividend - Rs 77.50 Per Sh |
| 2024-07-30 | Dividend | Annual General Meeting/Dividend - Rs 70 Per Share |
| 2023-07-27 | Dividend | Annual General Meeting/Dividend - Rs 38 Per Share |
| 2022-08-02 | Dividend | Annual General Meeting/Dividend - Rs 38 Per Share |
| 2021-08-02 | Dividend | Annual General Meeting/Dividend - Rs 37 Per Share |
| 2020-07-29 | Dividend | Annual General Meeting/Dividend - Rs 13 Per Share |
| 2019-07-10 | Dividend | Annual General Meeting/Dividend - Rs 11.50 Per Share |
| 2018-07-10 | Dividend | Annual General Meeting/Dividend- Rs 10.50 Per Share |
| 2017-07-10 | Dividend | Annual General Meeting/Dividend - Rs 10 Per Share |
| 2016-07-04 | Dividend | Annual General Meeting/ Dividend -Rs 9.50/- Per Share |
| 2015-08-14 | Dividend | Annual General Meeting/ Dividend - Rs 9/- Per Share |
| 2014-07-24 | Dividend | Annual General Meeting/Dividend - Rs.9/- Per Share |
| 2013-07-17 | Dividend | Annual General Meeting And Dividend Rs.9/- Per Share |
| 2012-08-17 | Dividend | Annual General Meeting And Dividend Rs.8/- Per Share |
| 2011-08-25 | Dividend | Dividend Rs 6 Per Share |
| 2010-06-21 | Dividend | Final Dividend-Rs.6/- Per Share |
| 2009-07-09 | Other | Agm/Div-Rs.5/- Per Share |
| 2008-07-09 | Dividend | Agm/Dividend - 50% |
| 2007-07-11 | Other | Agm |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing: Manufacturing of Clinker, Cement and Ready Mix Concrete (“RMC”)
| Sector | Commodities |
| Industry | Cement & Cement Products |
| Sub-industry | Cement & Cement Products |
| Symbol | ULTRACEMCO |
| BSE code | 532538 |
| ISIN | INE481G01011 |
| Face value | ₹10.0 |
| Incorporated | 2000-08-24 |
| Website | www.ultratechcement.com |
| Plants (India / abroad) | 643 / 7 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.