UltraTech Cement (ULTRACEMCO)

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UltraTech Cement (ULTRACEMCO) · mywealthgrid

About

India's largest grey cement producer, 150+ MTPA capacity, ₹3.4L-Cr market cap. Materials sector scale leader. Stable 19.23% OPM with seasonal revenue pattern ₹17.9–25.8Cr quarterly.

Founded: 1983
Face value: ₹10

Market cap

₹3,15,624 Cr

P/E

37.0×

P/B

4.1×

Dividend yield

2.2%

ROE

11.1%

ROCE

12.4%

Debt / equity

0.3

OPM

19.2%

EPS (TTM)

₹289.8

Book value

₹2,600.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

PE 40.1 vs ROE 11.08% — stock priced for earnings growth not evident in data; verify profit acceleration drivers.
OPM volatility 15.51% to 21.71% across quarters signals sensitivity to demand cycles, input costs, or capacity utilization swings.
FII holdings fell 1.25pp (14.11% → 12.86%); suggests institutional reassessment of valuation or sector outlook.
Stock 1y return −5.33% sits mid-52w range; verify if company-specific or broader sector headwind.

Generated analysis · source review pending

Growth drivers

Margin recovery from 15.51% (Sep 2025) to 21.71% (Mar 2026): continuation above 20% amplifies earnings on ₹20–25Cr quarterly base; verify if pricing or cost-driven.
Seasonal demand (₹25.8Cr Mar vs ₹17.9Cr Sep, 44% swing): sustained peaks expand revenue; verify capacity fills and demand durability.
Capacity headroom (150+ MTPA): growth requires utilization rise; verify current run-rates vs peer additions and market-share potential.
Cash generation (2.4–3Cr quarterly net profit, 11.08% ROE): funds capex or shareholder return; verify capital allocation strategy.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹10,710.0-1.1%1Y

Quick read

rule-based

Pros

+Dividend payout of 82.8% of profit

Cons

−Low return on equity of 10.8% (3-yr avg)

Research score

Structured signal from quality, growth, valuation and momentum.

50/100

Business quality: 45
Growth: 59
Valuation: 47

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY 50 NIFTY 100 NIFTY 200 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	28,392	28,646	37,379	42,125	44,726	52,599	63,240	70,908	75,955	88,512
COGS	435	581	6,527	6,313	7,086	7,965	9,715	11,903	13,704	17,188
Gross profit	27,957	28,065	30,852	35,812	37,640	44,634	53,525	59,005	62,251	71,323
	23,056	22,853	24,063	26,529	26,070	33,118	42,901	46,015	49,705	54,319
	4,901	5,212	6,789	9,282	11,570	11,516	10,624	12,991	12,547	17,004
OPM %	17.3%	18.2%	18.2%	22%	25.9%	21.9%	16.8%	18.3%	16.5%	19.2%
Depreciation	1,377	1,348	2,140	2,702	2,700	2,715	2,888	3,145	4,015	4,644
Interest	566	640	1,549	1,986	1,486	945	823	968	1,651	1,872
	464	648	438	648	616	668	503	545	647	439
Profit before tax	—	—	3,538	5,242	8,001	8,524	7,416	9,422	7,528	10,927
Tax	942	1,159	1,107	-568	2,539	1,190	2,343	2,418	1,488	2,739
Tax %	—	—	31.3%	-10.8%	31.7%	14%	31.6%	25.7%	19.8%	25.1%
	2,480	2,714	2,432	5,810	5,462	7,334	5,073	7,004	6,040	8,188
PAT margin %	8.7%	9.5%	6.5%	13.8%	12.2%	13.9%	8%	9.9%	8%	9.3%
EPS (₹)	—	—	88.7	201.6	189.4	254.6	175.6	243.1	205.3	277.6
EPS adjusted (₹)	0.1	-0.1	88.7	201.5	189.3	254.4	175.7	242.7	204.9	277.1
	—	—	13%	6.4%	19.5%	14.9%	21.6%	28.8%	37.7%	86.4%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	82.5%	85%	84.2%	84.9%	84.6%	83.2%	82%	80.6%
EBITDA margin %	18.2%	22%	25.9%	21.9%	16.8%	18.3%	16.5%	19.2%
EBIT margin %	12.4%	15.6%	19.8%	16.7%	12.2%	13.9%	11.2%	14%
PAT margin %	6.5%	13.8%	12.2%	13.9%	8%	9.9%	8%	9.3%
Working capital
Receivable days	27	—	21	21	22	22	28	25
Inventory days	229	—	207	256	248	255	255	206
Payable days	1	—	234	269	271	260	248	217
NWC days	255	—	-6	9	-0	17	35	13
Leverage
Current ratio	0.79	—	1.15	0.89	0.88	0.86	0.73	0.74
Debt to EBITDA	3.58	—	1.77	0.89	0.93	0.79	1.83	1.34
Debt to equity	0.86	—	0.46	0.2	0.18	0.17	0.33	0.3
Interest coverage	3.3	3.6	6.5	9.9	10	10.8	5.6	6.9
Asset turnover	0.49	0.85	0.52	0.63	0.69	0.7	0.57	0.63
Return ratios
Return on assets %	3.2%	11.7%	6.3%	8.7%	5.6%	6.9%	4.5%	5.8%
Return on capital employed %	10.7%	—	14.6%	14.4%	12.5%	14.7%	10.6%	12.4%
Return on equity %	8.6%	—	12.4%	14.5%	9.3%	11.6%	8.5%	10.7%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	59.96%	59.96%	59.95%	59.99%	59.99%	60%	59.23%	59.23%	59.23%	59.29%	59.33%	59.33%
	17.17%	18.72%	18.26%	18.65%	18.47%	17.48%	15.71%	15.72%	15.82%	14.93%	14.11%	12.86%
	15.15%	13.78%	14.24%	13.93%	14.19%	15.16%	16.8%	16.85%	16.65%	17.45%	18.42%	19.69%
	0%	0%	0%	0%	0%	0%	0%	0%	0.05%	0.05%	0.05%	0.05%
	7.54%	7.37%	7.37%	7.26%	7.18%	7.17%	8.08%	8.02%	8.05%	8.1%	7.92%	7.9%
No. of shareholders	—	—	—	—	—	—	—	—	4,09,266	4,12,518	4,09,350	4,16,693

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹10,956.0 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹10,962.0	+27	+0.2%	₹10,962.0	34,910	-111	2,612	50
23 Nov 2026	₹11,033.0	+43	+0.4%	₹11,033.0	2,621	+166	279	50
29 Dec 2026	₹10,990.0	0	0%	₹11,128.9	0	0	0	50

Open the chart icon on a row for that contract's close over 103 stored sessions, with open interest as bars beneath it.

43

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
0	0	0	₹0.0	8,800

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

222

across 21 fund houses

Held by these funds

7.05%

of the company's equity

All mutual funds

15.98%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

222 schemes · 21 fund houses

		Shares
Nifty 50 ETF	SBI Mutual Fund	22.95 L	2,628.18	1.23%	0.779%	+12,072
Large Cap Fund	ICICI Prudential Mutual Fund	20.38 L	2,333.17	2.91%	0.691%	+1.42 L
BSE Sensex ETF	SBI Mutual Fund	15.76 L	1,812.3	1.49%	0.535%	+15,622
Portfolio of Kotak Flexi Cap FundNEW	Kotak Mahindra Mutual Fund	13.75 L	1,574.38	2.79%	0.467%	—
Large & Mid Cap Fund	ICICI Prudential Mutual Fund	7.62 L	872.08	2.6%	0.258%	+49,638
Value Fund	ICICI Prudential Mutual Fund	7.48 L	856.53	1.43%	0.254%	-0
ETF NIFTY 50 BEES	Nippon India Mutual Fund	7.2 L	824.67	1.23%	0.244%	+14,397
ELSS- Tax Saver Fund	Axis Mutual Fund	6.51 L	745.8	2.28%	0.221%	-0

1–8 of 222

1 / 28

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results19 Oct 2026 · in 18 daysresults

19

Final dividend30 Jul 2026 · ex-date₹240
Final dividend25 Jul 2025 · ex-date₹77.5
Final dividend30 Jul 2024 · ex-date₹70
Final dividend27 Jul 2023 · ex-date₹38
Final dividend2 Aug 2022 · ex-date₹38
Dividend dividend2 Aug 2021 · ex-date₹37
Final dividend29 Jul 2020 · ex-date₹13
Dividend dividend10 Jul 2019 · ex-date₹11.5
Dividend dividend10 Jul 2018 · ex-date₹10.5
Dividend dividend10 Jul 2017 · ex-date₹10
Dividend dividend4 Jul 2016 · ex-date₹9.5
Dividend dividend14 Aug 2015 · ex-date₹9
Dividend dividend24 Jul 2014 · ex-date₹9
Dividend dividend17 Jul 2013 · ex-date₹9
Dividend dividend17 Aug 2012 · ex-date₹8
Final dividend25 Aug 2011 · ex-date₹6
Dividend dividend21 Jun 2010 · ex-date₹6
Dividend dividend9 Jul 2009 · ex-date₹5
Dividend dividend9 Jul 2008 · ex-date₹5

2

Board meeting to consider results19 Oct 2026
Board meeting to consider results20 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

1119 announcementsExport CSV

3 Sept 2026, 6:27 pmCompany Update

Press Release

General PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	82.5%	85%	84.2%	84.9%	84.6%	83.2%	82%	80.6%
EBITDA margin %	18.2%	22%	25.9%	21.9%	16.8%	18.3%	16.5%	19.2%
EBIT margin %	12.4%	15.6%	19.8%	16.7%	12.2%	13.9%	11.2%	14%
PAT margin %	6.5%	13.8%	12.2%	13.9%	8%	9.9%	8%	9.3%
Working capital
Receivable days	27	—	21	21	22	22	28	25
Inventory days	229	—	207	256	248	255	255	206
Payable days	1	—	234	269	271	260	248	217
NWC days	255	—	-6	9	-0	17	35	13
Leverage
Current ratio	0.79	—	1.15	0.89	0.88	0.86	0.73	0.74
Debt to EBITDA	3.58	—	1.77	0.89	0.93	0.79	1.83	1.34
Debt to equity	0.86	—	0.46	0.2	0.18	0.17	0.33	0.3
Interest coverage	3.3	3.6	6.5	9.9	10	10.8	5.6	6.9
Asset turnover	0.49	0.85	0.52	0.63	0.69	0.7	0.57	0.63
Return ratios
Return on assets %	3.2%	11.7%	6.3%	8.7%	5.6%	6.9%	4.5%	5.8%
Return on capital employed %	10.7%	—	14.6%	14.4%	12.5%	14.7%	10.6%	12.4%
Return on equity %	8.6%	—	12.4%	14.5%	9.3%	11.6%	8.5%	10.7%

Date	Category	Subject	Filing
3 Sept 2026, 6:27 pm	Company Update General	Press Release	PDF
2 Sept 2026, 10:34 am	Company Update General	Press Release	PDF
1 Sept 2026, 2:39 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
1 Sept 2026, 2:36 pm	Board Meeting	Board Meeting Intimation for To Consider And Approve The Standalone And Consolidated Unaudited Financial Results Of The Company For The Quarter And Half Year Ending 30Th September, 2026	PDF
1 Sept 2026, 7:08 am	Company Update General	Commencement Of Commercial Production	PDF
21 Aug 2026, 5:57 pm	Company Update Acquisition	Announcement under Regulation 30 (LODR)-Acquisition	PDF
21 Aug 2026, 1:04 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
18 Aug 2026, 4:13 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF

Calls	Strike	Puts
0	0	0	₹0.0	8,800

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
UltraTech CementULTRACEMCOULTRACEMCO	₹3,15,624 Cr	₹3,38,404 Cr	₹91,884 Cr	₹17,625 Cr	19.2%	₹8,539 Cr	9.3%	12.4%	11.1%	13
Grasim IndustriesGRASIMGRASIM	₹2,01,594 Cr	₹4,26,542 Cr	₹1,84,029 Cr	₹26,377 Cr	14.1%	₹5,694 Cr	5.9%	4.3%	4.9%	-11
Ambuja Cements LimitedAMBUJACEMAMBUJACEM	₹90,012 Cr	₹90,065 Cr	₹39,867 Cr	₹6,167 Cr	16.1%	₹4,377 Cr	13.9%	5.3%	8.4%	37
Shree Cement LimitedSHREECEMSHREECEM	₹79,059 Cr	₹80,653 Cr	₹21,896 Cr	₹4,577 Cr	22.1%	₹1,630 Cr	8.4%	10.6%	7.8%	227
Jk Cement LimitedJKCEMENTJKCEMENT	₹38,279 Cr	₹44,353 Cr	₹14,401 Cr	₹2,334 Cr	17.3%	₹946 Cr	7.2%	14.3%	15.1%	71
Dalmia Bharat LimitedDALBHARATDALBHARAT	₹31,556 Cr	₹38,308 Cr	₹15,058 Cr	₹3,005 Cr	20.8%	₹409 Cr	7.8%	7.4%	6.4%	5
Acc LimitedACCACC	₹22,213 Cr	₹22,213 Cr	₹25,369 Cr	₹2,629 Cr	11.4%	₹1,909 Cr	8.2%	10.8%	10.9%	32
The Ramco Cements LimitedRAMCOCEMRAMCOCEM	₹19,633 Cr	₹23,485 Cr	₹9,228 Cr	₹1,345 Cr	15.9%	₹645 Cr	7.7%	6.1%	9%	-0
Jsw Cement LimitedJSWCEMENTJSWCEMENT	₹15,216 Cr	₹19,297 Cr	₹6,849 Cr	₹1,216 Cr	19%	₹760 Cr	-12.3%	10.1%	-11.5%	-140
Nuvoco Vistas Corporation LimitedNUVOCONUVOCO	₹11,505 Cr	₹16,046 Cr	₹11,594 Cr	₹1,907 Cr	16.4%	₹386 Cr	3.2%	7.1%	3.7%	-130
The India Cements LimitedINDIACEMINDIACEM	₹9,147 Cr	₹10,452 Cr	₹4,479 Cr	₹469 Cr	8.8%	₹92 Cr	-1.5%	1.5%	-0.7%	-28
Star Cement LimitedSTARCEMENTSTARCEMENT	₹7,211 Cr	₹7,797 Cr	₹3,807 Cr	₹902 Cr	24.8%	₹370 Cr	10.3%	17%	13%	177

₹ Cr	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	275	275	275	289	289	289	289	289	295	295
Reserves	19,445	24,117	26,107	28,088	—	43,886	50,147	54,091	59,939	70,412	76,329
Minority interest	—	—	—	—	—	6	—	—	56	3,187	4,089
	7,944	7,450	18,627	24,319	—	20,488	10,203	9,901	10,298	23,031	22,781
	10,705	10,377	12,142	23,856	49,515	21,515	23,190	27,106	30,220	36,773	37,883
Total equity & liabilities	38,368	42,219	57,151	76,537	49,803	86,184	83,828	91,387	1,00,802	1,33,697	1,41,376
	23,482	25,904	39,715	56,645	49,625	54,077	54,309	59,579	62,878	94,564	98,794
CWIP	2,241	921	1,510	1,149	—	1,681	4,777	4,035	6,783	6,188	8,276
Investments	2,786	6,683	5,436	2,903	—	12,178	6,336	7,297	8,249	5,156	6,740
	9,859	8,711	10,489	15,842	178	18,247	18,406	20,476	22,893	27,788	27,567
Total assets	38,368	42,219	57,151	76,537	49,803	86,184	83,828	91,387	1,00,802	1,33,697	1,41,376

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4,526	5,005	3,618	5,956	8,972	12,506	9,283	9,069	10,898	10,673	15,316
	-3,727	-2,480	1,897	1,114	-4,192	-8,119	2,257	-7,187	-8,788	-16,504	-9,480
	-844	-2,535	-5,501	-6,757	-5,076	-4,389	-11,596	-1,631	-1,926	5,076	-5,954
Net cash flow	-45	-10	13	313	-296	-1	-56	250	184	-755	-118
Free cash flow	2,376	3,607	1,680	4,200	7,283	10,581	3,670	2,868	1,892	1,544	5,638
CFO / Operating profit %	92.3%	96%	—	87.7%	96.7%	108.1%	80.6%	85.4%	84%	85%	90%

Compounded sales growth

7 years: 13%
5 years: 15%
3 years: 12%
1 year: 17%

Compounded profit growth

7 years: 19%
5 years: 8%
3 years: 17%
1 year: 36%

Return on equity

7 years: 297%
5 years: 11%
3 years: 10%
Last year: 10%

96 deals · 23 Aug 2021 – 13 Aug 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
13 Aug 2026	PILANI INVESTMENT AND INDUSTRIES CORPORATION LIMITED	Bulk	BSE	Sell	25,00,000	₹11,585.00	₹2,896.25 Cr
13 Aug 2026	HDFC MUTUAL FUND	Block	BSE	Buy	12,94,777	₹11,585.00	₹1,500.00 Cr
13 Aug 2026	PILANI INVESTMENT AND INDUSTRIES CORPORATION LIMITED	Block	BSE	Sell	12,94,777	₹11,585.00	₹1,500.00 Cr
13 Aug 2026	ICICI PRUDENTIAL MUTUAL FUND	Block	BSE	Buy	3,45,274	₹11,585.00	₹400.00 Cr
13 Aug 2026	PILANI INVESTMENT AND INDUSTRIES CORPORATION LIMITED	Block	BSE	Sell	3,45,274	₹11,585.00	₹400.00 Cr
13 Aug 2026	PILANI INVESTMENT AND INDUSTRIES CORPORATION LIMITED	Block	BSE	Sell	1,56,828	₹11,585.00	₹181.69 Cr
13 Aug 2026	NATIONAL PENSION INSURANCE FUND	Block	BSE	Buy	1,56,828	₹11,585.00	₹181.69 Cr
13 Aug 2026	PILANI INVESTMENT AND INDUSTRIES CORPORATION LIMITED	Block	BSE	Sell	1,55,373	₹11,585.00	₹180.00 Cr
13 Aug 2026	KOTAK MAHINDRA MUTUAL FUND	Block	BSE	Buy	1,55,373	₹11,585.00	₹180.00 Cr
13 Aug 2026	PILANI INVESTMENT AND INDUSTRIES CORPORATION LIMITED	Block	BSE	Sell	86,318	₹11,585.00	₹100.00 Cr

1–10 of 96

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

UltraTech Cement

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

3

43

Fund holders

Documents

Announcements

Events

1

19

2

Announcements

1

19

2

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

3

43

Compounded sales growth

Compounded profit growth

Return on equity

UltraTech Cement

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Futures3

Option chain43

Fund holders

Documents

Announcements

Events

Upcoming and recent1

Dividends19

Board meetings2

Announcements

Upcoming and recent1

Dividends19

Board meetings2

Ratio timeline

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Futures3

Option chain43

Profit & loss

Quarterly record

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Bulk & block deals

Board and management

3

43

1

19

2

1

19

2

3

43