UltraTech Cement logo

UltraTech Cement share price

NSE: ULTRACEMCOBSE: 532538Cement & Cement ProductsLarge Cap

UltraTech Cement Limited · Formerly Ultratech Cemco · Face value ₹10 · Listed Aug 2004
Last close ₹11,104.00down ₹46.00 (0.41%)BSE ₹11,156.00

Share price at the NSE close on 28 Oct 2026. Previous close ₹11,150.00.

28 Oct: open ₹11,090.00, high ₹11,211.00, low ₹11,023.00

52-week range of traded prices to 28 Oct 2026
₹10,325.00Low, 23 Mar 2026₹13,110.00High, 10 Feb 2026
Market cap
₹3,27,212 Cr22nd largest listed
P/E
37.18
P/B
4.45
Dividend yield
2.16%
ROE
12.1%
ROCE
12.7%
Debt to equity
0.37
Volume, NSE
2,13,72056.9% delivered

UltraTech Cement share price chart

Daily closes since Jan 2007, adjusted for splits and bonuses

−6.9%over a year · Nifty Cement −21.5% · Nifty 500 −8.8%

Results20-session average 3,05,309 shares a day, 53.6% delivered

About UltraTech Cement

UltraTech Cement Limited makes and sells cement, white cement, ready-mix concrete (concrete mixed at a plant and delivered to the building site), wall care products, waterproofing and tile adhesives.1 It sells to individual home builders and supplies cement for homes, highways, metro rail and airports across India, and it also operates in the UAE, Bahrain and Sri Lanka.12

The company reports a single business segment: making, marketing and distributing building materials and building solutions.3 Its grey cements include Ordinary Portland Cement, and Portland Pozzolana Cement and Portland Slag Cement, which blend in fly ash or steel-plant slag.4 In 2025 it announced its entry into wires and cables, widening its range of building products.1

It was incorporated in 2000.5 The Aditya Birla Group merged the cement businesses of Grasim and Indian Rayon in 1998, acquired the cement business of L&T in 2004, when the UltraTech brand was launched, and brought all its cement businesses into this company in 2010.46 It took control of The India Cements Limited in December 2024 and now holds 74.99% of it, and it took over the cement business of Kesoram Industries Limited from March 2025.789

It is part of the Aditya Birla Group: Grasim Industries Limited, its holding company, owned 56.11% of its shares at Mar 2026, and Kumar Mangalam Birla is its chairman.21011 K. C. Jhanwar is managing director until 31 Dec 2026.12

UltraTech Cement key points

Results

  • In the quarter to Sep 2026, consolidated net sales were ₹23,024 crore, against ₹19,371 crore a year earlier, and operating EBITDA (profit before interest, tax, depreciation and amortisation, leaving out other income) was ₹3,721 crore, against ₹3,094 crore.1314
  • Consolidated profit after tax for the quarter to Sep 2026 was ₹1,501 crore, against ₹1,238 crore a year earlier, on sales of 38.2 million tonnes, against 33.9 million tonnes.1315
  • In the year to Mar 2026, consolidated net revenue was ₹88,512 crore, up 17%, EBITDA, including other income, ₹17,598 crore, up 32%, and profit after tax ₹8,188 crore, up 36%, crossing ₹8,000 crore for the first time.16
  • The board recommended a dividend of ₹240 a share for the year to Mar 2026, totalling ₹7,072.30 crore.17

Market position

  • The company says it is the world's largest cement company by sales volume and capacity outside China.18
  • Its cement is used in nearly 40% of the concrete roads built by the National Highways Authority of India, the company says.18

Where revenue comes from

  • Consolidated revenue by where the business operates19
    Itemyear to Mar 2026year to Mar 2025
    India₹83,127.72 crore₹71,650.92 crore
    Outside India₹4,255.80 crore₹3,285.53 crore

Plants and capacity

  • Grey cement capacity is 210.1 million tonnes a year (mtpa), including 5.4 mtpa overseas, and white cement and wall putty capacity is 3.5 mtpa.2021
  • At 31 Mar 2026 it had 34 integrated units (plants that make clinker, the main ingredient of cement, and grind it) and 30 grinding units (plants that grind clinker into cement) in India.22
  • In the year to Mar 2026, grey cement production in India rose 13% to 143.83 million tonnes, and capacity utilisation (the share of installed capacity used) was 77%, against 78% a year earlier.23
  • As of its exchange filing of 5 Oct 2026, its green energy capacity for its own use was 2,024 megawatts (MW): 1,580 MW renewable and 444 MW waste heat recovery (power from hot kiln gases), meeting about 48% of its power needs.24

Sales network and ready-mix concrete

  • At 31 Mar 2026 it sold through more than 41,000 dealers and more than 1,15,000 retailers.22
  • It had 6,289 UltraTech Building Solutions outlets (stores selling its cement and other building materials) in the quarter to Sep 2026, 24% more than a year earlier.25
  • It ran 485 ready-mix concrete plants in 179 cities in the quarter to Sep 2026, and ready-mix concrete revenue was ₹2,338 crore, up 29% from a year earlier.26

Expansion and capital spending

  • In its presentation of 19 Oct 2026, the company said it expects grey cement capacity, including overseas plants, of 213.1 mtpa by Mar 2027 and 242.9 mtpa by Mar 2028, from 196.8 mtpa in Mar 2026.27
  • On its earnings call of 20 Jul 2026, the company said its capacity expansion is funded from internal accruals (cash the business generates) and every tonne of committed expansion is backed by secured limestone, the main raw material.28
  • The company said on the same call that it expects net debt (borrowings less cash) below 1 times EBITDA at the end of the current financial year, against 0.87 times at the end of Jun 2026.28

Recent events

  • In an exchange filing of 23 Sep 2026, it reported commissioning 4.6 mtpa: a new 3.6 mtpa integrated plant at Petnikota, Andhra Pradesh, and 1.0 mtpa by debottlenecking (raising the output of existing plants).20
  • On 1 Sep 2026, its wires and cables plant at Bharuch, Gujarat, began commercial production, with installed capacity of 1,098,000 km of house wires and light-duty cables; it launched them under the Ultravolt brand on 3 Sep 2026.293031
  • On 17 Apr 2026, it commissioned new cement grinding units with a combined 8.7 mtpa at Shahjahanpur, Patratu and Vizag, taking its cement capacity in India to 200.1 mtpa.3233
  • On 29 May 2025, it acquired 100% of Birla White WallCare Private Limited, a wall putty maker with a 6,00,000 tonne-a-year plant at Rajsamand, Rajasthan, at an enterprise value (price including debt) of ₹234.43 crore.34

Litigation and regulatory matters

  • In an order of 31 Aug 2016, the Competition Commission of India fined the company and India Cements ₹1,804.31 crore; as of its annual report for the year to Mar 2026, their appeals were before the Supreme Court, which granted a stay in Oct 2018.35
  • The company has also appealed a Competition Commission order of 19 Jan 2017 with a penalty of ₹68.30 crore; it deposited 10% of the first penalty and has made no provision for either case.36
  • In its exchange filing of 6 May 2026, the company said it had received an income tax demand of ₹808.78 crore, including interest, for assessment year 2023-24 (the tax year assessed) and was filing an appeal; its documents give no later status.37

Last updated

All 37 sources, each with its page
  1. 1. Annual report, 24 Jul 2026, page 48
  2. 2. Exchange filing, 17 Apr 2026, page 3
  3. 3. Annual report, 24 Jul 2026, page 299
  4. 4. Annual report, 24 Jul 2026, page 46
  5. 5. Annual report, 24 Jul 2026, page 2
  6. 6. Annual report, 24 Jul 2026, page 38
  7. 7. Annual report, 24 Jul 2026, page 292
  8. 8. Annual report, 24 Jul 2026, page 126
  9. 9. Annual report, 24 Jul 2026, page 293
  10. 10. Annual report, 24 Jul 2026, page 171
  11. 11. Annual report, 24 Jul 2026, page 135
  12. 12. Annual report, 24 Jul 2026, page 133
  13. 13. Investor presentation, 19 Oct 2026, page 3
  14. 14. Investor presentation, 19 Oct 2026, page 31
  15. 15. Investor presentation, 19 Oct 2026, page 32
  16. 16. Annual report, 24 Jul 2026, page 37
  17. 17. Annual report, 24 Jul 2026, page 126
  18. 18. Annual report, 24 Jul 2026, page 31
  19. 19. Annual report, 24 Jul 2026, page 299
  20. 20. Exchange filing, 23 Sep 2026, page 1
  21. 21. Exchange filing, 5 Oct 2026, page 3
  22. 22. Annual report, 24 Jul 2026, page 45
  23. 23. Annual report, 24 Jul 2026, page 124
  24. 24. Exchange filing, 5 Oct 2026, page 2
  25. 25. Investor presentation, 19 Oct 2026, page 9
  26. 26. Investor presentation, 19 Oct 2026, page 12
  27. 27. Investor presentation, 19 Oct 2026, page 13
  28. 28. Earnings call, 20 Jul 2026, page 6
  29. 29. Exchange filing, 1 Sep 2026, page 1
  30. 30. Exchange filing, 1 Sep 2026, page 2
  31. 31. Investor presentation, 19 Oct 2026, page 16
  32. 32. Exchange filing, 17 Apr 2026, page 2
  33. 33. Annual report, 24 Jul 2026, page 41
  34. 34. Annual report, 24 Jul 2026, page 291
  35. 35. Annual report, 24 Jul 2026, page 134
  36. 36. Annual report, 24 Jul 2026, page 134
  37. 37. Exchange filing, 6 May 2026, page 2

Results

Consolidated; ₹ crore.UltraTech Cement quarterly results

Revenue growth, 12 months
+17.8%
Net profit growth, 12 months
–

Quarter to Sep 2026, against the quarter before

Revenue
₹23,295 Crdown 5.49%
Net profit
₹1,501 Crdown 42.34%
Net margin
6.4%

Revenue by quarter

₹17,193 CrDec 24₹23,063 CrMar 25₹21,275 CrJun 25₹19,607 CrSep 25₹21,830 CrDec 25₹25,799 CrMar 26₹24,648 CrJun 26₹23,295 CrSep 26

Net profit by quarter, a loss in red

₹1,474 CrDec 24₹2,475 CrMar 25₹2,221 CrJun 25₹1,238 CrSep 25₹1,729 CrDec 25₹3,000 CrMar 26₹2,604 CrJun 26₹1,501 CrSep 26

The quarters either side of a change of basis do not compare. From the quarter to Mar 2025, the company's revenue for the year to Mar 2025, ₹75,955 Cr, differs from its quarters added, ₹73,961 Cr.

₹ croreDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Revenue17,19323,06321,27519,60721,83025,79924,64823,295
Net profit1,4742,4752,2211,2381,7293,0002,6041,501
Net margin8.6%10.7%10.4%6.3%7.9%11.6%10.6%6.4%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

In the year to Mar 2026 the company reports one business segment, Manufacturing, marketing and distribution of building materials and providing complete building solutions and support services, which carries all its revenue.

Valuation

Today, against the company's own history. Its history crosses a change of basis in the accounts in the year to Mar 2025: days before it are of the company before the change.UltraTech Cement PE ratio and valuation

Price to earnings

At or below today's level on 37% of 2,223 trading days over the last 10 years.

LowestHighest
Its median41.08Industry median24.33
Price to book

At or below today's level on 52% of 1,902 trading days since Oct 2018.

LowestHighest
Its median4.42Industry median1.42
Dividend yield

At or below today's level on 99% of 2,453 trading days over the last 10 years.

LowestHighest
Its median0.38%Industry median0.65%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year−4.4%+35.2%−31.0%2.2%
3 years+13.3%+16.5%−3.7%1.2%
5 years+10.7%+7.9%+1.7%0.9%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.UltraTech Cement shareholding pattern

Shareholding by group

  • Promoters58.48%
  • Foreign institutions12.69%
  • Indian institutions20.86%
  • Governments0.05%
  • Individuals and others7.71%
  • Employee trusts0.21%
Holder
Grasim Industries LimitedPromoter56.11%
LICI NEW ENDOWMENT PLUS-SECURED FUNDInsurance companies3.72%
PT. Indo Bharat RayonPromoter0.78%
Pilani Investment and Industries Corporation LimitedPromoter0.65%
Hindalco Industries LimitedPromoter0.43%
Shri Kumar Mangalam BirlaPromoter0.21%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters −0.85 pts, foreign institutions −0.17 pts, Indian institutions +1.17 pts, mutual funds +0.42 pts.

Mutual fund holdings

452 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 179 of the 234 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 5 more funds filed their first portfolio on record, holding it.All 452 funds holding UltraTech Cement

Bought for the first time
1
Bought again
3
Added
121
Cut
113
Held unchanged
209
Sold out
13
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 28 Oct 2025.UltraTech Cement insider trading

No promoter, director, key manager or employee bought or sold on the market.

  • Promoters and promoter group: no market trade
  • Others: no market trade · 39 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

UltraTech Cement competitors and peers

Cement & Cement Products, 38 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to UltraTech Cement in market cap. 2 companies in its own group left out: one owns more than half of the other, directly or through a company it controls, or one owner more than half of both.Construction materials companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Ambuja Cements logoAmbuja CementsAMBUJACEM87,267–1.47+7.7%––3.4%0.57%
Shree Cement logoShree CementSHREECEM83,05852.463.48+14.3%−7.9%6.8%6.8%0.65%
JK Cement logoJK CementJKCEMENT38,52640.225.25+17.3%−7.4%13.9%11.5%0.40%
Dalmia Bharat logoDalmia BharatDALBHARAT27,65556.441.54+6.1%−56.4%2.7%5.0%0.34%
ACC logoACCACC21,41224.261.04+4.6%−73.6%4.3%5.1%0.66%
The Ramco Cements logoThe Ramco CementsRAMCOCEM17,29026.812.14+8.6%+101.2%8.3%5.0%0.34%
JSW Cement logoJSW CementJSWCEMENT15,70320.682.31––11.8%7.7%0.43%
Nuvoco Vistas Corporation logoNuvoco Vistas CorporationNUVOCO11,93128.761.25+10.6%+52.0%4.4%6.6%0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.UltraTech Cement dividend history

Dividend per share, ₹, restated for later splits and bonuses

10Mar 1711Mar 1812Mar 1913Mar 2037Mar 2138Mar 2238Mar 2370Mar 2478Mar 25240Mar 26
Highest ₹240.00 a share, year to Mar 2026.
Ex-dateTypePer share
30 Jul 2026Final₹240.00
25 Jul 2025Final₹77.50
30 Jul 2024Final₹70.00
27 Jul 2023Final₹38.00
2 Aug 2022Final₹38.00
2 Aug 2021Final₹37.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.UltraTech Cement announcements

UltraTech Cement share price by year

Each calendar year to 2025.UltraTech Cement share price history

YearClose at year endChangeHighest closeLowest close
202511,784.00+3.1%12,874.0010,128.45
202411,426.35+8.8%12,083.909,363.95
202310,503.05+50.9%10,503.056,705.10
20226,959.05−8.3%7,870.105,177.30
20217,591.05+43.5%8,214.055,290.80
20205,288.15+30.7%5,354.753,018.10
20194,046.05+1.4%4,841.053,374.45
20183,990.95−7.6%4,545.103,343.65
20174,320.60+32.9%4,485.153,279.45
20163,250.20+16.9%4,115.352,617.65
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
27 Oct 202611,085.0011,186.0011,021.0011,150.0011,121.452,88,69458.8%
26 Oct 202611,011.0011,180.0010,928.0011,180.0011,056.502,75,15949.7%
23 Oct 202610,958.0011,050.0010,802.0011,050.0010,912.973,03,53253.1%
22 Oct 202610,815.0010,976.0010,651.0010,958.0010,862.681,72,26634.3%
21 Oct 202610,822.0010,959.0010,717.0010,849.0010,838.623,95,97844.4%
19 Oct 202610,925.0011,219.0010,551.0010,650.0010,878.176,09,12838.7%
16 Oct 202610,920.0010,985.0010,774.0010,907.0010,904.401,82,52052.2%
15 Oct 202610,764.0010,906.0010,715.0010,862.0010,821.363,49,51854.9%
14 Oct 202610,741.0010,855.0010,650.0010,795.0010,783.843,00,76462.3%
Prices in ₹ per share as traded, not adjusted.

Company details

Chairperson
Kumar Mangalam Birla
At the end of the quarter to Sep 2026
Managing director
Kailash Chandra Jhanwar
At the end of the quarter to Sep 2026
NSE symbol
ULTRACEMCO
BSE code
532538
ISIN
INE481G01011
Industry
Cement & Cement Products
CIN
L26940MH2000PLC128420
Corporate identity number, the registrar of companies' code for it
Incorporated
2000
Registered office
B Wing, Ahura Centre, 2nd Floor, Mahakali Caves Road, Andheri East, Mumbai 400093, Maharashtra
Share registrar
KFin Technologies Ltd
Keeps the register of shareholders and handles transfers and dividend payments