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UltraTech Cement Limited ULTRACEMCO.NS

IN · National Stock Exchange of India · XNSE · stock · Basic Materials · website

UltraTech Cement Limited statistics & valuation

Market cap₹3.42T
P / E41.8×
P / S3.9×
P / B4.5×
P / FCF60.6×
Net margin9.3%
FCF margin6.5%
Net debt₹234.0B
Enterprise value USD$38.3B
Earnings yield EBIT/EV3.4%
Return on capital11.4%
Graham number -65.4%₹4,032.42

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (₹4,032.42); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
8.10% 10.00% 8.10% 9.30% 2023202420252026
Gross margin (%)
79.40% 78.10% 76.60% 75.40% 2023202420252026
Operating margin (%)
12.20% 13.80% 11.20% 14.00% 2023202420252026
Return on equity (%)
9.30% 11.60% 8.50% 10.70% 2023202420252026
Shares outstanding
294.2M 294.2M 294.2M 294.2M 2023202420252026
Net debt (₹)
₹106.87B ₹108.49B ₹236.35B ₹234.01B 2023202420252026
Share buybacks (₹)
₹1.15B ₹1.00B ₹1.00B ₹1.19B 2023202420252026
Return on assets (%)
5.50% 6.90% 4.50% 5.80% 2023202420252026
Free cash flow margin (%)
4.60% 2.70% 2.10% 6.50% 2023202420252026
Debt / equity (×)
0.20× 0.19× 0.34× 0.31× 2023202420252026
EPS (₹)
₹175.54 ₹242.87 ₹205.13 ₹277.45 2023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

UltraTech Cement Limited trades at about 42× earnings — near its 10-year norm (10-year range 41.1×–56.7×, median 43×).

41.1× 56.7×

Shaded band = 10-year range (41.1×–56.7×); dot = today's 42×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023
Gross margin75.4%76.6%78.1%79.4%
Operating margin14.0%11.2%13.8%12.2%
Net margin9.3%8.1%10.0%8.1%
FCF margin6.5%2.1%2.7%4.6%
Return on assets5.8%4.5%6.9%5.5%
Return on equity10.7%8.5%11.6%9.3%
Debt / equity0.20×0.22×0.09×0.10×
Current ratio0.750.730.860.89

Computed from company filings · IN · as of 2026-03-31. Figures in INR. Facts plus Stocktoria's own computed scores — not investment advice.