NSE/ULTRACEMCO

ULTRACEMCOUltraTech Cement Ltd

Cement · NSE

₹11,886+0.51%

52-wk low52-WEEK RANGE52-wk high

₹10,362+14.7% from low ·-8.9% from high₹13,052

Price chart · 1M–10Y · daily-close

NSE bhavcopy + 10Y historical

ULTRACEMCO+4.29% · 1Y

Range high ₹13,110Range low ₹10,325Latest ₹11,886252 bars · daily-close · NSE bhavcopy + 10Y history

CementBuilding MaterialsAditya Birla GroupLargecapLow Risk

Stock scorecard

Auto-computed from latest ratios + sector context · not a buy/sell signal

Composite25/100

Performance

Low

Hasn't fared well — amongst the weak performers.

· 52w return -0.4% — underperformer
· Below 200-DMA (-1.3%) — downtrend

Valuation

High

Looks expensive vs the sector.

· P/E 45.8 — 27% above sector median 35.9
· PEG 1.22

Growth

Medium

Steady but not standout growth.

· Revenue YoY +27.0% — strong top-line
· Profit YoY +15.1%

Profitability

Medium

Average profitability vs peers.

· ROE 10.6% — weak returns on equity

DVM composite · Durability · Valuation · Momentum

Trendlyne-style 3-axis composite · all drivers shown below · not a buy/sell signal

CompositeC(52/100)

Durability

71/100

Reasonable financial health; watch the weaker inputs.

Show 4 drivers

Piotroski F-score8/9 (89pt)
Altman Z" score1.43 (45pt)
Debt/Equity0.33 (98pt)
ROE10.6% (43pt)

Valuation

32/100

Richly valued on most axes; limited margin of safety.

Show 5 drivers

P/E vs sector (45.8 / 35.9)127% (44pt)
PEG1.22 (40pt)
P/B4.87 (10pt)
Dividend yield0.65% (16pt)
EV/EBITDA23.5 (33pt)

Momentum

52/100

Momentum is muted; trend is unclear or rolling over.

Show 5 drivers

52w change-0.4% (45pt)
DMA-trend alignmentdown (25pt)
RSI (14)57.8 (97pt)
Price vs 200-DMA-1.8% (50pt)
MACD regimebullish (75pt)

Valuation positioning

Current ratio vs sector peer distribution

P/E (TTM)45.78

OVERVALUED

CheapestP/E 45.8 at 100th %ile — pricier than 100% of peers.Most expensive

P/B4.87

OVERVALUED

CheapestP/B 4.87 at 100th %ile of sector.Most expensive

EV/EBITDA23.51

OVERVALUED

Monthly seasonality

Avg monthly return over 11 years · historical — not a forecast

Best: Jul +5.48% · Worst: Sep -2.30%

Jan

+1.6%

73% win

Feb

-0.7%

33% win

Mar

+0.1%

58% win

Apr

+2.9%

67% win

May

+1.4%

55% win

Jun

+2.0%

Monthly return distribution

Distribution of 135 monthly returns

Mean

+1.26%

Median

+1.29%

Std dev

7.29%

Best

+18.1%

Worst

-23.1%

% positive

57%

SWOT analysis

Auto-derived from ratios + sector context + forensics · research only, not a recommendation

STRENGTHS · 1

Financial quality score 8/9
Piotroski ≥7 historically associated with outperformance

WEAKNESSES · 1

Premium to sector on P/E (+27%)
P/E 45.8 vs Cement median 35.9

OPPORTUNITIES · 0

No strong near-term catalysts visible

THREATS · 0

No immediate threats from the data

RETURNS · DAILY-CLOSE BASED

3Y+ shown as CAGR

+0.5%

+2.6%

+12.0%

-1.5%

-1.7%

+5.5%

+16.9%

+11.9%

10Y

+15.1%

Fundamentals

VALUATION

Market cap

₹3,50,567 Cr

P/E (TTM)

45.8

P/E (fwd)

31.8

next 12m

P/B

4.87

EV/EBITDA

23.5

Book value

₹2448.89

per share

PROFITABILITY · QUALITY

ROE

10.6%

ROCE

—

Net margin

8.4%

Op margin

12.5%

Gross margin

58.2%

D/E

0.33

GROWTH · MARKET

Rev YoY

+27.0%

Profit YoY

+15.1%

Div yield

0.65%

Payout

29.8%

52w change

-0.4%

Beta

0.48

defensive

Pros and cons

Auto-derived from ratios · not a buy/sell recommendation

PROS · 2

+Forward P/E materially below trailing (31.8x vs 45.8x)Street expects earnings growth that compresses the multiple — positive surprise cushion
+Revenue growing at +27.0% YoYGrowth-category territory — implies market-share gains or market expansion

CONS · 1

−Trades at a premium to sector on P/EP/E 45.8 vs Cement median 35.9 — priced for more growth than peers

Sector-relative context

Cement · 2 peers

P/E (TTM)

This stock

45.78

Sector median

35.91

Rank 2/2 (50th %ile)

ROE

This stock

10.6%

Sector median

5.6%

Rank 2/2 (50th %ile)

P/B

This stock

4.87

Sector median

1.94

Rank 2/2 (50th %ile)

Quality score · Piotroski F-score

8 / 9

Strong quality — passes most F-score checks

✓Profitable (positive net income)· Most basic check — company makes money
✓Positive return on assets· Assets generate returns
✓Positive operating cash flow· Profits are backed by real cash, not accruals
✓Operating CF exceeds net profit· Healthy cash conversion — no aggressive revenue recognition
✓Long-term debt decreased YoY· Deleveraging — lower refinancing risk
✓ROA improved YoY· Getting more productive with the asset base
✓Operating margin expanded YoY· Pricing power or cost discipline
✗

Forensic score · Altman Z″ (emerging markets)

Bankruptcy-risk predictor · 1995 Altman emerging-market revision

GREY1.43

Z″ = 1.43 — GREY zone. Not flagged as distressed, but watch the weakest input component below.

Component	Ratio	Weight	Contribution
Working Capital / Total Assets (A)	0.044	×6.56	0.288
Retained Earnings / Total Assets (B)	0.096	×3.26	0.313
EBIT / Total Assets (C)	0.105	×6.72	0.708
Book Equity / Total Liabilities (D)	0.111	×1.05	0.116

Zones: Z″ ≥ 2.60 safe · 1.10–2.60 grey · < 1.10 distress. All four inputs derived from latest annual filing.

Analyst consensus

38 analysts · STRONG_BUY

Target mean

₹13652.58

Target high

₹15300.00

Target low

₹7775.00

Upside vs today

+14.6%

Street consensus target is +14.6% vs current price. Consensus is a lagging sentiment read, not a forecast.

Company + balance sheet snapshot

Industry

Building Materials

Shares out

29.4

Revenue (TTM)

₹85,775 Cr

EBITDA

₹15,955 Cr

Total debt

₹25,215 Cr

Cash

₹3,681 Cr

Net debt

₹21,534 Cr

Quarterly results

Last 5 quarters · ₹ Cr (Screener.in-grade depth)

Metric	2024-Q3	2024-Q4	2025-Q1	2025-Q2	2025-Q4
Revenue	16,294	17,779	24,039	21,275	21,830
Operating profit	1,048	1,902	3,142	3,304	2,733
OPM %	6.4%	10.7%	13.1%	15.5%	12.5%
Interest	393

Annual P&L

Last 4 years · ₹ Cr · all line items

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Revenue	51,708	62,338	69,810	74,936
Operating profit	8,837	7,577	9,668	8,424
OPM %	17.1%	12.2%	13.8%	11.2%
Interest	886	762	960	1,626

Peer	Last close	1Y change	Mcap ₹Cr	P/E	P/B	ROE	D/E	Rev YoY
ULTRACEMCOTHIS UltraTech Cement Limited	₹11,886	-0.4%	3,50,567	45.8	4.87	10.6%	0.33	+27.0%
GRASIM Grasim Industries Limited	₹2,720.5	-1.3%	1,87,182	41.4	1.88	4.5%	1.27	+27.4%
AMBUJACEM Ambuja Cements Limited	₹459	-20.7%	1,13,034	30.4	2.00	6.6%	0.02	+10.2%

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Research tool · not investment advice.

Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Daily OHLCV sourced primarily from our NSE bhavcopy ingest (public sec_bhavdata_full CSV), with Stooq as a fallback for historical gaps. Split + bonus adjusted. Excludes dividends. Not a recommendation. Past performance does not predict future returns. For authoritative live quotes see NSE / BSE directly.

Quarter	EPS estimate	EPS actual	Surprise %
-1q	51.39	60.92	+18.6%
-2q	47.59	41.84	-12.1%
-3q	78.90	76.50	-3.0%
-4q	90.26	91.11	+0.9%

Date	Amount
2025-07-25	₹77.50
2024-07-30	₹70.00
2023-07-27	₹38.00
2022-08-02	₹38.00
2021-08-02	₹37.00
2020-07-29	₹13.00
2019-07-10	₹11.50
2018-07-10	₹10.50
2017-07-10	₹10.00
2016-07-04	₹9.50

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Equity capital	289	289	289	295
Reserves	8,054	9,046	9,925	11,039
Borrowings	10,299	11,058	11,403	24,102
Other liabilities	1	0	0	31
Total liabilities	83,828	91,387	1,00,802	1,33,697
Fixed assets	56,181	59,449	65,641	94,528
CWIP	7,207	6,559	9,468	8,592
Investments	1,342	584	1,795	1,997
Other assets	3,078	3,265	3,264	2,992
Total assets	83,828	91,387	1,00,802	1,33,697

Metric	2022-FY	2023-FY	2024-FY	2025-FY
CF Operating	9,283	9,069	10,898	10,673
CF Investing	2,257	-7,187	-8,788	-16,504
CF Financing	-12,498	-1,631	-1,926	5,076
Net cash flow	-57	250	183	-86
Free cash flow	3,670	2,868	1,892	1,544

Metric	2025-FY	2024-FY	2023-FY	2022-FY
OPM %	11.2%	13.8%	12.2%	17.1%
Net margin %	8.1%	10.0%	8.1%	14.2%
ROE %	56.1%	71.7%	57.3%	88.0%
ROCE %	32.1%	49.4%	41.9%	49.6%
Debt / Equity	2.13	1.12	1.18	1.23
Dividend payout %	34%	16%	22%	15%
Interest coverage	5.6×	10.8×	10.7×	10.4×
Revenue growth YoY	+7.3%	+12.0%	+20.6%	—
Profit growth YoY	-13.8%	+38.3%	-31.0%	—

ULTRACEMCOUltraTech Cement Ltd

Price chart · 1M–10Y · daily-close

Stock scorecard

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Peer comparison · Cement

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Technical snapshot

Earnings history + surprises

Dividends + splits history

Stock scorecard

Recent news

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Balance sheet

Cash flow statement

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

Ratios

Peer comparison · Cement