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Swing Capital

Ambuja Cements Ltd

NSE: AMBUJACEM BSE: 500425Cement

Ambuja Cements Ltd. is among the leading cement companies in India. It is a member of the Adani Group. Currently, Ambuja Cement has a cement capacity of 31 million tonnes with six integrated cement manufacturing plants and eight cement grinding units across the country.[1]

₹427
52W: ₹394 — ₹625
PE 27.3 · Book ₹213 · +100% vs book
Market Cap₹1,06,127 Cr
Stock P/E27.3Price to Earnings
ROCE3.25%Return on Capital
ROE7.67%Return on Equity
Div. Yield0.46%Face Value ₹2

Strengths

  • +Company is almost debt free.

Weaknesses

  • −Tax rate seems low
  • −Company has a low return on equity of 7.84% over last 3 years.

Shareholding Pattern

Promoters67.33%
FIIs5.83%
DIIs19.62%
Public7%
CategorySep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Apr 2026
Promoters67.57%67.57%67.57%67.57%67.68%▲0.167.68%67.68%67.33%▼0.4
FIIs10.61%9.14%▼1.58.6%▼0.57.43%▼1.25.91%▼1.55.8%▼0.15.87%▲0.15.83%▼0.0
DIIs14.98%16.41%▲1.417.09%▲0.718.49%▲1.419.41%▲0.919.64%▲0.219.86%▲0.219.62%▼0.2
Public6.64%6.66%▲0.06.51%▼0.26.3%▼0.26.77%▲0.56.67%▼0.16.36%▼0.37%▲0.6

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales4,4404,7804,5524,2295,0826,6195,5155,1506,3516,974
Expenses3,5883,9833,9063,5484,4815,5544,6434,4465,8216,326
Operating Profit8517986466816011,065872704531649
OPM %19%17%14%16%12%16%16%14%8%9%
Net Profit5145325675011,7585558551,388-411,644
EPS ₹2.592.422.32.037.142.253.475.61-0.176.65

AI Insights

Revenue Trend

Mar 2026 revenue at ₹25,062Cr, up 28.8% YoY. OPM at 12%.

Debt Position

Borrowings at ₹833Cr. Debt-to-equity ratio: 0.02x. Healthy balance sheet.

Capex Cycle

CWIP at ₹4,967Cr (17% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 19.62% (+4.36pp change). FIIs: 5.83% (-5.82pp change). Promoters hold 67.33%.

Margin & Efficiency

ROCE declining from 18% (Dec 2014) to 3% (Mar 2026). Working capital days: -86.

Valuation

PE 27.3x with 3.25% ROCE. Price is 100% above book value of ₹213. Dividend yield: 0.46%.

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