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Swing Capital

UltraTech Cement Ltd

NSE: ULTRACEMCO BSE: 532538Cement

UltraTech Cement is engaged in the manufacturing and sale of Cement and Cement related product primarily across globe.[1]

₹11,560
52W: ₹10325 — ₹13110
PE 45.5 · Book ₹2534 · +356% vs book
Market Cap₹3,40,649 Cr
Stock P/E45.5Price to Earnings
ROCE12.7%Return on Capital
ROE10.4%Return on Equity
Div. Yield0.68%Face Value ₹10

Strengths

  • +Company has been maintaining a healthy dividend payout of 53.9%

Weaknesses

  • −Stock is trading at 4.43 times its book value
  • −Company has a low return on equity of 10.7% over last 3 years.

Shareholding Pattern

Promoters59.33%
FIIs13.61%
DIIs18.42%
Public8.41%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters59.98%59.99%▲0.060%▲0.059.23%▼0.859.23%59.23%59.28%▲0.159.33%▲0.0
FIIs18.15%17.95%▼0.216.98%▼1.015.17%▼1.815.23%▲0.115.33%▲0.114.44%▼0.913.61%▼0.8
DIIs13.83%14.08%▲0.315.15%▲1.116.79%▲1.616.85%▲0.116.65%▼0.217.45%▲0.818.42%▲1.0
Public7.82%7.75%▼0.17.64%▼0.18.57%▲0.98.48%▼0.18.55%▲0.18.6%▲0.08.41%▼0.2

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales16,13419,80618,28115,56516,91421,13519,63517,86420,08824,582
Expenses12,98515,78615,32313,62314,12816,52515,43315,09416,57919,624
Operating Profit3,1494,0202,9591,9422,7864,6104,2022,7703,5094,958
OPM %20%20%16%12%16%22%21%16%17%20%
Net Profit1,7182,2521,5076801,3242,6822,2321,0641,5112,599
EPS ₹59.5178.0152.1823.5445.8791.0275.7436.151.2888.19

AI Insights

Revenue Trend

Mar 2026 revenue at ₹82,170Cr, up 14.3% YoY. OPM at 19%.

Debt Position

Borrowings at ₹20,480Cr. Debt-to-equity ratio: 0.28x. Healthy balance sheet.

Capex Cycle

CWIP at ₹7,871Cr (10% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 18.42% (+2.47pp change). FIIs: 13.61% (-2.20pp change). Promoters hold 59.33%.

Margin & Efficiency

ROCE improving from 13% (Mar 2015) to 13% (Mar 2026). Working capital days: -39.

Valuation

PE 45.5x with 12.7% ROCE. Price is 356% above book value of ₹2,534. Dividend yield: 0.68%.

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