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Last Updated: April 2, 2026, 3:51 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532538 | NSE: ULTRACEMCO

UltraTech Cement Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:51 am

Market Cap 3,15,719 Cr.
Current Price 10,714
Intrinsic Value₹7,460.53
High / Low 13,110/10,325
Stock P/E40.6
Book Value 2,444
Dividend Yield0.72 %
ROCE10.9 %
ROE9.29 %
Face Value 10.0
PEG Ratio91.58

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for UltraTech Cement Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
UltraTech Cement Ltd 3,15,719 Cr. 10,714 13,110/10,32540.6 2,4440.72 %10.9 %9.29 % 10.0
Grasim Industries Ltd 1,76,446 Cr. 2,593 2,980/2,46538.3 1,4640.39 %7.50 %3.95 % 2.00
Ambuja Cements Ltd 1,03,903 Cr. 420 625/39427.0 2280.48 %10.5 %8.73 % 2.00
Shree Cement Ltd 83,942 Cr. 23,265 32,508/22,55048.5 6,0780.47 %7.17 %5.69 % 10.0
J K Cements Ltd 39,716 Cr. 5,140 7,566/4,51037.8 8390.29 %14.0 %13.9 % 10.0
Industry Average34,326.20 Cr1,677.64274.74574.270.69%8.92%85.54%7.13

All Competitor Stocks of UltraTech Cement Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 15,52118,66217,73716,01216,74020,41918,81916,29417,77923,06321,27519,60721,830
Expenses 13,18515,34014,68813,46113,48516,30515,80114,26914,88518,45616,86916,51817,919
Operating Profit 2,3363,3223,0492,5513,2554,1143,0172,0262,8934,6084,4063,0893,911
OPM % 15%18%17%16%19%20%16%12%16%20%21%16%18%
Other Income 13012317717114673832262479314217446
Interest 215191211234262261326393457475433459492
Depreciation 7237627497987838159189809931,1251,1071,1481,182
Profit before tax 1,5272,4922,2671,6902,3553,1111,8578791,6913,1013,0081,6562,283
Tax % 30%33%25%24%25%27%20%19%19%20%26%25%24%
Net Profit 1,0631,6701,6901,2801,7752,2591,4937081,3632,4752,2211,2381,729
EPS in Rs 36.6657.7158.4944.3961.5578.2251.7824.3447.0984.2375.5441.7958.55

Last Updated: February 3, 2026, 6:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 7:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 20,73023,30625,15325,37530,97941,46242,43044,72652,59963,24070,90875,95585,775
Expenses 16,69518,88120,25220,16224,83434,11533,18433,15841,08452,62057,93063,15869,762
Operating Profit 4,0354,4254,9015,2126,1457,3479,24611,56811,51410,62012,97912,79716,013
OPM % 19%19%19%21%20%18%22%26%22%17%18%17%19%
Other Income 322350464648242350651619669507557397455
Interest 3615875666401,2381,7781,9921,4869458239681,6511,860
Depreciation 1,1391,2031,3771,3481,8482,4512,7232,7002,7152,8883,1454,0154,561
Profit before tax 2,8582,9863,4213,8723,3013,4685,1838,0018,5247,4169,4227,52810,047
Tax % 23%30%28%30%33%31%-11%32%14%32%26%20%
Net Profit 2,2132,1022,4802,7142,2242,4005,7515,4627,3345,0737,0046,0407,663
EPS in Rs 80.4476.4790.3098.9080.9287.51199.40189.26254.42175.41242.65204.94260.11
Dividend Payout % 11%12%11%10%13%13%7%20%15%22%29%38%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-5.02%17.98%9.44%-18.05%7.91%139.62%-5.03%34.27%-30.83%38.06%-13.76%
Change in YoY Net Profit Growth (%)0.00%23.00%-8.55%-27.49%25.97%131.71%-144.65%39.30%-65.10%68.89%-51.83%

UltraTech Cement Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:13%
5 Years:12%
3 Years:13%
TTM:8%
Compounded Profit Growth
10 Years:12%
5 Years:1%
3 Years:-5%
TTM:0%
Stock Price CAGR
10 Years:16%
5 Years:26%
3 Years:25%
1 Year:10%
Return on Equity
10 Years:12%
5 Years:12%
3 Years:10%
Last Year:9%

Last Updated: September 5, 2025, 1:50 pm

Balance Sheet

Last Updated: December 10, 2025, 3:35 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 274274274275275275289289289289289295295
Reserves 16,90818,76721,67124,11726,10733,47638,75543,88650,14754,03659,93970,41271,738
Borrowings 7,3329,82910,6168,47419,48025,33723,01921,71911,29911,05811,40324,10225,215
Other Liabilities 7,6719,1838,6319,34311,28017,43817,15120,28222,07725,99829,16738,82340,058
Total Liabilities 32,18538,05341,19342,20957,14176,52579,21486,17683,81191,380100,797133,632137,305
Fixed Assets 18,10023,34325,30925,90439,71556,64557,15155,41255,48859,57962,87894,56495,930
CWIP 2,1862,2501,4699211,5111,1539201,6874,7854,0406,8116,2347,206
Investments 4,8624,5005,0956,6915,4472,9215,92912,1786,3367,2978,2495,1565,098
Other Assets 7,0377,9619,3198,69310,46815,80615,21516,90017,20320,46422,85927,67729,072
Total Assets 32,18538,05341,19342,20957,14176,52579,21486,17683,81191,380100,797133,632137,305

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 3,4554,1904,5265,0053,8885,9568,97212,5009,2839,06910,89810,673
Cash from Investing Activity + -2,342-2,144-3,673-2,5011,8661,165-4,192-8,8562,257-7,188-8,789-15,836
Cash from Financing Activity + -949-2,110-844-2,535-5,735-6,757-5,076-4,356-12,498-1,631-1,9265,076
Net Cash Flow 164-638-3118364-295-712-958250183-86
Free Cash Flow 1,1521,4812,3943,6372,0054,3087,28610,6623,7432,9632,0131,723
CFO/OP 102%98%110%110%77%91%107%119%94%96%97%94%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-3.00-5.00-6.00-3.00-13.00-18.00-14.00-10.000.00-1.001.00-12.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 292628252625202121222228
Inventory Days 251266203195226214234207256248255255
Days Payable 252154142150165165188234269271260248
Cash Conversion Cycle 281388970877466-69-01735
Working Capital Days -20-82-83-38-50-48-60-83-56-56-52-64
ROCE %12%12%13%14%12%10%12%15%14%13%15%11%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 59.96%59.96%59.96%59.96%59.96%59.98%59.99%60.00%59.23%59.23%59.23%59.28%
FIIs 14.77%15.81%16.65%18.20%17.74%18.15%17.95%16.98%15.17%15.23%15.33%14.44%
DIIs 16.93%15.95%15.04%13.68%14.14%13.83%14.08%15.15%16.79%16.85%16.65%17.45%
Government 0.05%0.05%0.05%0.05%0.05%0.05%0.05%0.05%0.05%0.05%0.05%0.05%
Public 8.14%8.09%8.11%7.95%7.92%7.82%7.75%7.64%8.57%8.48%8.55%8.60%
Others 0.15%0.14%0.18%0.18%0.17%0.17%0.17%0.19%0.18%0.18%0.20%0.18%
No. of Shareholders 3,66,4373,49,2813,47,9043,42,4223,57,6273,53,5653,56,4053,59,7103,94,4624,06,1184,09,2664,12,518

Shareholding Pattern Chart

No. of Shareholders

UltraTech Cement Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
ICICI Prudential Large Cap Fund 2,085,267 3.41 2643.492,107,9622026-03-24 00:03:21-1.08%
Kotak Flexicap Fund 1,375,000 3.07 1743.09N/AN/AN/A
Axis Large Cap Fund 697,749 2.73 884.54641,1472026-03-12 02:53:378.83%
Nippon India Large Cap Fund 575,475 1.42 729.53625,4752026-02-23 03:19:06-7.99%
Axis ELSS Tax Saver Fund 575,288 2.2 729.29697,4452026-02-23 02:15:05-17.51%
ICICI Prudential Balanced Advantage Fund 475,848 0.85 603.23252,5762026-03-24 00:03:2188.4%
ICICI Prudential Business Cycle Fund 410,449 3.21 520.33398,4492026-03-24 00:03:213.01%
ICICI Prudential Multicap Fund 368,008 2.86 466.52N/AN/AN/A
Kotak Large & Midcap Fund 350,000 1.44 443.7330,0002026-02-23 03:19:066.06%
Canara Robeco Large Cap Fund 333,152 2.47 422.34328,1522026-03-12 02:53:371.52%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 205.30243.05175.63254.64189.40
Diluted EPS (Rs.) 205.13242.87175.54254.53189.33
Cash EPS (Rs.) 341.56350.80275.64348.06282.69
Book Value[Excl.RevalReserv]/Share (Rs.) 2399.422086.231883.691747.051530.59
Book Value[Incl.RevalReserv]/Share (Rs.) 2399.422086.231883.691747.051530.59
Revenue From Operations / Share (Rs.) 2577.552456.202190.581822.111549.48
PBDIT / Share (Rs.) 451.39470.59385.29416.47426.19
PBIT / Share (Rs.) 315.14361.64285.25322.42332.65
PBT / Share (Rs.) 255.83325.62256.75289.70272.14
Net Profit / Share (Rs.) 205.31241.85175.60254.01189.14
NP After MI And SOA / Share (Rs.) 204.94242.65175.41254.42189.26
PBDIT Margin (%) 17.5119.1517.5822.8527.50
PBIT Margin (%) 12.2214.7213.0217.6921.46
PBT Margin (%) 9.9213.2511.7215.8917.56
Net Profit Margin (%) 7.969.848.0113.9412.20
NP After MI And SOA Margin (%) 7.959.878.0013.9612.21
Return on Networth / Equity (%) 8.5411.639.3214.5612.36
Return on Capital Employeed (%) 9.1614.1212.1114.6114.63
Return On Assets (%) 4.516.945.548.766.33
Long Term Debt / Equity (X) 0.220.080.090.100.30
Total Debt / Equity (X) 0.320.170.180.200.40
Asset Turnover Ratio (%) 0.640.730.710.600.54
Current Ratio (X) 0.730.860.880.861.17
Quick Ratio (X) 0.430.550.600.590.97
Inventory Turnover Ratio (X) 8.499.491.461.411.31
Dividend Payout Ratio (NP) (%) 33.4015.6321.5714.526.86
Dividend Payout Ratio (CP) (%) 20.0610.7813.7410.604.59
Earning Retention Ratio (%) 66.6084.3778.4385.4893.14
Cash Earning Retention Ratio (%) 79.9489.2286.2689.4095.41
Interest Coverage Ratio (X) 8.0614.0313.5212.738.28
Interest Coverage Ratio (Post Tax) (X) 4.728.297.168.594.75
Enterprise Value (Cr.) 363558.87290900.97228788.60200424.86210253.91
EV / Net Operating Revenue (X) 4.794.103.623.814.70
EV / EBITDA (X) 27.3321.4120.5716.6717.09
MarketCap / Net Operating Revenue (X) 4.463.973.483.624.35
Retention Ratios (%) 66.5984.3678.4285.4793.13
Price / BV (X) 4.794.674.053.784.40
Price / Net Operating Revenue (X) 4.463.973.483.624.35
EarningsYield 0.010.020.020.030.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of UltraTech Cement Ltd as of April 3, 2026 is: ₹7,427.60

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of April 3, 2026, UltraTech Cement Ltd is Overvalued by 30.67% compared to the current share price ₹10,714.00

Intrinsic Value of UltraTech Cement Ltd as of April 3, 2026 is: ₹7,460.53

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of April 3, 2026, UltraTech Cement Ltd is Overvalued by 30.37% compared to the current share price ₹10,714.00

Last 5 Year EPS CAGR: 0.44%

*Investments are subject to market risks

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in UltraTech Cement Ltd:
    1. Net Profit Margin: 7.96%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 9.16% (Industry Average ROCE: 8.92%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 8.54% (Industry Average ROE: 85.54%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 4.72
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.43
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 40.6 (Industry average Stock P/E: 274.74)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.32
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

UltraTech Cement Ltd. is a Public Limited Listed company incorporated on 24/08/2000 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L26940MH2000PLC128420 and registration number is 128420. Currently Company is involved in the business activities of Manufacture of cement, lime and plaster. Company's Total Operating Revenue is Rs. 71894.98 Cr. and Equity Capital is Rs. 294.68 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Cement'B' Wing, Ahura Centre, 2nd Foor, Mumbai Maharashtra 400093Contact not found
Management
NamePosition Held
Mr. Kumar Mangalam BirlaChairman & Non-Exe.Director
Mr. K K MaheshwariVice Chairman & Non Exe.Dire
Mr. K C JhanwarManaging Director
Mrs. Rajashree BirlaNon Executive Director
Mrs. Alka BharuchaIndependent Director
Mr. Sunil DuggalIndependent Director
Mr. Vivek AgrawalWhole Time Director
Mr. Anjani AgrawalIndependent Director
Dr. Vikas BaliaIndependent Director
Ms. Anita RamachandranIndependent Director

FAQ

What is the intrinsic value of UltraTech Cement Ltd?

UltraTech Cement Ltd's intrinsic value (as of 03 April 2026) is ₹7460.53 which is 30.37% lower the current market price of ₹10,714.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's ₹3,15,719 Cr. market cap, FY2026-2027 high/low of ₹13,110/10,325, reserves of ₹71,738 Cr, and liabilities of ₹137,305 Cr.

What is the Market Cap of UltraTech Cement Ltd?

The Market Cap of UltraTech Cement Ltd is 3,15,719 Cr..

What is the current Stock Price of UltraTech Cement Ltd as on 03 April 2026?

The current stock price of UltraTech Cement Ltd as on 03 April 2026 is ₹10,714.

What is the High / Low of UltraTech Cement Ltd stocks in FY 2026-2027?

In FY 2026-2027, the High / Low of UltraTech Cement Ltd stocks is ₹13,110/10,325.

What is the Stock P/E of UltraTech Cement Ltd?

The Stock P/E of UltraTech Cement Ltd is 40.6.

What is the Book Value of UltraTech Cement Ltd?

The Book Value of UltraTech Cement Ltd is 2,444.

What is the Dividend Yield of UltraTech Cement Ltd?

The Dividend Yield of UltraTech Cement Ltd is 0.72 %.

What is the ROCE of UltraTech Cement Ltd?

The ROCE of UltraTech Cement Ltd is 10.9 %.

What is the ROE of UltraTech Cement Ltd?

The ROE of UltraTech Cement Ltd is 9.29 %.

What is the Face Value of UltraTech Cement Ltd?

The Face Value of UltraTech Cement Ltd is 10.0.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in UltraTech Cement Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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