UltraTech Cement Ltd (ULTRACEMCO) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+0.71%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 12.4%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 11.1%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹11,929.33

200-Day DMA ● Overlay

₹11,063.99

14-Day RSI ● Overlay

54.5 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹3.16 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

36.6x

Price / EPS

Book Value (₹) Assets

₹2,600.0

P/B: 4.1x

ROE (%) Quality

11.1%

Net Profit / Equity

ROCE (%) Efficiency

12.7%

EBIT / Capital

Dividend Yield Yield

2.24%

Face Value: ₹10

Debt / Equity Solvency

0.31x

Manageable

EPS (TTM) Per Share

₹292.62

Trailing 12M

OPM (%) Spread

19.0%

EBITDA Margin

Free Cash Flow Cash

₹5,805 Cr

CFO - Capex

About UltraTech Cement Ltd

UltraTech Cement Ltd (ULTRACEMCO) is a leading Indian enterprise operating in the Cement & Building Materials sector.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 13.7% × Turnover: 0.85x × Leverage: 1.31x = ROE: 11.1%

✓ Company Strengths (Pros)

• Maintains a generous dividend yield payout of 2.24%.
• TickerPulse fundamental algorithm rates overall quality at 80/100.

⚠ Key Considerations & Risks (Cons)

• Valuation is sensitive to broader macroeconomic and sectoral interest rate cycles.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹91,884 Cr

Latest PAT

₹8,571 Cr

EPS (TTM)

₹292.62

OPM %

19.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹17,737 Cr	₹16,012 Cr	₹16,740 Cr	₹20,419 Cr	₹18,819 Cr	₹16,294 Cr	₹17,779 Cr	₹23,063 Cr	₹21,275 Cr	₹19,607 Cr	₹21,830 Cr	₹25,799 Cr	₹24,648 Cr
Operating Profit (EBITDA)	₹3,049 Cr	₹2,551 Cr	₹3,255 Cr	₹4,114 Cr	₹3,017 Cr	₹2,026 Cr	₹2,893 Cr	₹4,608 Cr	₹4,406 Cr	₹3,089 Cr	₹3,911 Cr	₹5,599 Cr	₹5,015 Cr
OPM %	17.0%	16.0%	19.0%	20.0%	16.0%	12.0%	16.0%	20.0%	21.0%	16.0%	18.0%	22.0%	20.0%
Interest Expense	₹211.00 Cr	₹234.00 Cr	₹262.00 Cr	₹261.00 Cr	₹326.00 Cr	₹393.00 Cr	₹457.00 Cr	₹475.00 Cr	₹433.00 Cr	₹459.00 Cr	₹492.00 Cr	₹487.00 Cr	₹453.00 Cr
Depreciation	₹749.00 Cr	₹798.00 Cr	₹783.00 Cr	₹815.00 Cr	₹918.00 Cr	₹980.00 Cr	₹993.00 Cr	₹1,125 Cr	₹1,107 Cr	₹1,148 Cr	₹1,182 Cr	₹1,208 Cr	₹1,201 Cr
Profit before Tax (PBT)	₹2,267 Cr	₹1,690 Cr	₹2,355 Cr	₹3,111 Cr	₹1,857 Cr	₹879.00 Cr	₹1,691 Cr	₹3,101 Cr	₹3,008 Cr	₹1,656 Cr	₹2,283 Cr	₹3,981 Cr	₹3,480 Cr
Net Profit (PAT)	₹1,690 Cr	₹1,280 Cr	₹1,775 Cr	₹2,259 Cr	₹1,493 Cr	₹708.00 Cr	₹1,363 Cr	₹2,475 Cr	₹2,221 Cr	₹1,238 Cr	₹1,729 Cr	₹3,000 Cr	₹2,604 Cr
EPS in ₹	₹58.49	₹44.39	₹61.55	₹78.22	₹51.78	₹24.34	₹47.09	₹84.23	₹75.54	₹41.79	₹58.55	₹101.22	₹88.21

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹23,306 Cr	₹25,153 Cr	₹25,375 Cr	₹30,979 Cr	₹41,462 Cr	₹42,430 Cr	₹44,726 Cr	₹52,599 Cr	₹63,240 Cr	₹70,908 Cr	₹75,955 Cr	₹88,512 Cr	₹91,884 Cr
Expenses	₹18,881 Cr	₹20,252 Cr	₹20,162 Cr	₹24,834 Cr	₹34,115 Cr	₹33,184 Cr	₹33,158 Cr	₹41,084 Cr	₹52,620 Cr	₹57,930 Cr	₹63,408 Cr	₹71,507 Cr	₹74,270 Cr
Operating Profit	₹4,425 Cr	₹4,901 Cr	₹5,212 Cr	₹6,145 Cr	₹7,347 Cr	₹9,246 Cr	₹11,568 Cr	₹11,514 Cr	₹10,620 Cr	₹12,979 Cr	₹12,547 Cr	₹17,004 Cr	₹17,614 Cr
OPM %	19%	19%	21%	20%	18%	22%	26%	22%	17%	18%	17%	19%	19%
Interest	₹587.00 Cr	₹566.00 Cr	₹640.00 Cr	₹1,238 Cr	₹1,778 Cr	₹1,992 Cr	₹1,486 Cr	₹945.00 Cr	₹823.00 Cr	₹968.00 Cr	₹1,651 Cr	₹1,872 Cr	₹1,891 Cr
Depreciation	₹1,203 Cr	₹1,377 Cr	₹1,348 Cr	₹1,848 Cr	₹2,451 Cr	₹2,723 Cr	₹2,700 Cr	₹2,715 Cr	₹2,888 Cr	₹3,145 Cr	₹4,015 Cr	₹4,644 Cr	₹4,738 Cr
Profit before Tax	₹2,986 Cr	₹3,421 Cr	₹3,872 Cr	₹3,301 Cr	₹3,468 Cr	₹5,183 Cr	₹8,001 Cr	₹8,524 Cr	₹7,416 Cr	₹9,422 Cr	₹7,528 Cr	₹10,927 Cr	₹11,400 Cr
Net Profit	₹2,102 Cr	₹2,480 Cr	₹2,714 Cr	₹2,224 Cr	₹2,400 Cr	₹5,751 Cr	₹5,462 Cr	₹7,334 Cr	₹5,073 Cr	₹7,004 Cr	₹6,040 Cr	₹8,188 Cr	₹8,571 Cr
EPS in Rs	76.47	90.30	98.90	80.92	87.51	199.40	189.26	254.42	175.41	242.65	204.94	277.10	289.77

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹274.00 Cr	₹274.00 Cr	₹275.00 Cr	₹275.00 Cr	₹275.00 Cr	₹289.00 Cr	₹289.00 Cr	₹289.00 Cr	₹289.00 Cr	₹289.00 Cr	₹295.00 Cr	₹295.00 Cr
Reserves & Surplus	₹18,767 Cr	₹21,671 Cr	₹24,117 Cr	₹26,107 Cr	₹33,476 Cr	₹38,755 Cr	₹43,886 Cr	₹50,147 Cr	₹54,036 Cr	₹59,939 Cr	₹70,412 Cr	₹76,329 Cr
Borrowings (Debt)	₹9,829 Cr	₹10,616 Cr	₹8,474 Cr	₹19,480 Cr	₹25,337 Cr	₹23,019 Cr	₹21,719 Cr	₹11,299 Cr	₹11,058 Cr	₹11,403 Cr	₹24,102 Cr	₹23,755 Cr
Total Liabilities	₹38,053 Cr	₹41,193 Cr	₹42,209 Cr	₹57,141 Cr	₹76,525 Cr	₹79,214 Cr	₹86,176 Cr	₹83,811 Cr	₹91,380 Cr	₹1.01 Lakh Cr	₹1.34 Lakh Cr	₹1.41 Lakh Cr
Fixed Assets	₹23,343 Cr	₹25,309 Cr	₹25,904 Cr	₹39,715 Cr	₹56,645 Cr	₹57,151 Cr	₹55,412 Cr	₹55,488 Cr	₹59,579 Cr	₹62,878 Cr	₹94,564 Cr	₹98,794 Cr
Total Assets	₹38,053 Cr	₹41,193 Cr	₹42,209 Cr	₹57,141 Cr	₹76,525 Cr	₹79,214 Cr	₹86,176 Cr	₹83,811 Cr	₹91,380 Cr	₹1.01 Lakh Cr	₹1.34 Lakh Cr	₹1.41 Lakh Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹4,190 Cr	₹4,526 Cr	₹5,005 Cr	₹3,888 Cr	₹5,956 Cr	₹8,972 Cr	₹12,500 Cr	₹9,283 Cr	₹9,069 Cr	₹10,898 Cr	₹10,673 Cr	₹15,316 Cr
Cash from Investing (CFI)	-₹2,144 Cr	-₹3,673 Cr	-₹2,501 Cr	₹1,866 Cr	₹1,165 Cr	-₹4,192 Cr	-₹8,856 Cr	₹2,257 Cr	-₹7,188 Cr	-₹8,789 Cr	-₹15,836 Cr	-₹9,475 Cr
Cash from Financing (CFF)	-₹2,110 Cr	-₹844.00 Cr	-₹2,535 Cr	-₹5,735 Cr	-₹6,757 Cr	-₹5,076 Cr	-₹4,356 Cr	-₹12,498 Cr	-₹1,631 Cr	-₹1,926 Cr	₹5,076 Cr	-₹5,954 Cr
Free Cash Flow (FCF)	₹1,481 Cr	₹2,394 Cr	₹3,637 Cr	₹2,005 Cr	₹4,308 Cr	₹7,286 Cr	₹10,662 Cr	₹3,677 Cr	₹2,963 Cr	₹2,013 Cr	₹1,723 Cr	₹5,805 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	26	28	25	26	25	20	21	21	22	22	28	25
Inventory Days	266	203	195	226	214	234	207	256	248	255	255	206
Cash Conversion Cycle (Days)	138	89	70	87	74	66	-6	9	0	17	35	13
ROCE %	12%	13%	14%	12%	10%	12%	15%	14%	13%	15%	11%	13%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹4,469.11 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹12,362.00

DCF Fair Value

₹4,469.11

Graham Number

₹4,137.42

Margin of Safety

-65.1%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹4,469.11

Premium / Overvalued (Margin: -65.1%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹4,349	₹4,309	₹4,271	₹4,233
10%	₹4,430	₹4,389	₹4,350	₹4,311
12%	₹4,510	₹4,469	₹4,429	₹4,389
14%	₹4,591	₹4,549	₹4,508	₹4,468

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹4,469	Fairly Valued
Benjamin Graham Number	₹4,137	Market Priced
Historical Sector P/E	₹6,438	Premium
EV / EBITDA Multiplier	₹12,980	In-Line
Free Cash Flow Yield Model	₹12,115	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 8/9 (Strong Financial Health)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

8 / 9 Pass

Altman Z-Score

4.41 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.31x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 19.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

59.33%

FIIs (Foreign)

12.36%

DIIs (Domestic)

19.69%

Government

0.15%

Public / Retail

8.42%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	59.96%	59.96%	59.96%	59.98%	59.99%	60.00%	59.23%	59.23%	59.23%	59.28%	59.33%	59.33%
+ FIIs (Foreign Portfolio)	16.65%	18.20%	17.74%	18.15%	17.95%	16.98%	15.17%	15.23%	15.33%	14.44%	13.61%	12.36%
+ DIIs (Mutual Funds / Insurance)	15.04%	13.68%	14.14%	13.83%	14.08%	15.15%	16.79%	16.85%	16.65%	17.45%	18.42%	19.69%
+ Public (Retail & HNIs)	8.11%	7.95%	7.92%	7.82%	7.75%	7.64%	8.57%	8.48%	8.55%	8.60%	8.41%	8.42%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Cement & Building Materials.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

ULTRACEMCO Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

ULTRACEMCO Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

ULTRACEMCO Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹15,823.36

Accelerated market share capture in Cement & Building Materials, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹13,845.44

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 37x P/E.

🐻 Bear Case (15%) -12.0%

₹10,878.56

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Cement & Building Materials)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 21:44 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ UltraTech Cement Ltd (ULTRACEMCO)	Target Stock	₹12,362.00	+0.71%	36.6x	11.1%	12.7%	0.31	₹3.16 Lakh Cr
Grasim Industries Ltd (GRASIM)	Viscose Staple Fiber & Paints (Birla Opus)	₹3,156.70	-0.41%	35.1x	5.0%	8.0%	2.20	₹2.02 Lakh Cr
Ambuja Cements Ltd (AMBUJACEM)	Cement & Clinker Production	₹389.80	+0.06%	18.1x	8.9%	5.6%	0.01	₹84,981 Cr
ACC Ltd (ACC)	Portland Cement & Ready Mix Concrete	₹1,237.20	+0.19%	11.7x	10.9%	11.2%	0.02	₹22,211 Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	21:44:54 IST	✓ Live Sync
Financial Statements (10Y)	UltraTech Cement Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

UltraTech Cement Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About UltraTech Cement Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Cement & Building Materials)

Metric Explainer

Stock DNA Methodology

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