UltraTech Cement share price
NSE: ULTRACEMCOBSE: 532538Cement & Cement ProductsLarge Cap
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
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹3,27,212 Cr22nd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 37.18
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 4.45
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 2.16%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 12.1%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 12.7%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026.
- 0.37
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 2,13,72056.9% 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
Where revenue comes from
- Consolidated revenue by where the business operates19
Item year to Mar 2026 year 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. Annual report, 24 Jul 2026, page 48
- 2. Exchange filing, 17 Apr 2026, page 3
- 3. Annual report, 24 Jul 2026, page 299
- 4. Annual report, 24 Jul 2026, page 46
- 5. Annual report, 24 Jul 2026, page 2
- 6. Annual report, 24 Jul 2026, page 38
- 7. Annual report, 24 Jul 2026, page 292
- 8. Annual report, 24 Jul 2026, page 126
- 9. Annual report, 24 Jul 2026, page 293
- 10. Annual report, 24 Jul 2026, page 171
- 11. Annual report, 24 Jul 2026, page 135
- 12. Annual report, 24 Jul 2026, page 133
- 13. Investor presentation, 19 Oct 2026, page 3
- 14. Investor presentation, 19 Oct 2026, page 31
- 15. Investor presentation, 19 Oct 2026, page 32
- 16. Annual report, 24 Jul 2026, page 37
- 17. Annual report, 24 Jul 2026, page 126
- 18. Annual report, 24 Jul 2026, page 31
- 19. Annual report, 24 Jul 2026, page 299
- 20. Exchange filing, 23 Sep 2026, page 1
- 21. Exchange filing, 5 Oct 2026, page 3
- 22. Annual report, 24 Jul 2026, page 45
- 23. Annual report, 24 Jul 2026, page 124
- 24. Exchange filing, 5 Oct 2026, page 2
- 25. Investor presentation, 19 Oct 2026, page 9
- 26. Investor presentation, 19 Oct 2026, page 12
- 27. Investor presentation, 19 Oct 2026, page 13
- 28. Earnings call, 20 Jul 2026, page 6
- 29. Exchange filing, 1 Sep 2026, page 1
- 30. Exchange filing, 1 Sep 2026, page 2
- 31. Investor presentation, 19 Oct 2026, page 16
- 32. Exchange filing, 17 Apr 2026, page 2
- 33. Annual report, 24 Jul 2026, page 41
- 34. Annual report, 24 Jul 2026, page 291
- 35. Annual report, 24 Jul 2026, page 134
- 36. Annual report, 24 Jul 2026, page 134
- 37. Exchange filing, 6 May 2026, page 2
Results
Consolidated; ₹ crore.UltraTech Cement quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +17.8%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- –
Quarter to Sep 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹23,295 Crdown 5.49%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹1,501 Crdown 42.34%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 6.4%
Revenue by quarter
Net profit by quarter, a loss in red
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.
| ₹ crore | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 17,193 | 23,063 | 21,275 | 19,607 | 21,830 | 25,799 | 24,648 | 23,295 |
| Net profit | 1,474 | 2,475 | 2,221 | 1,238 | 1,729 | 3,000 | 2,604 | 1,501 |
| Net margin | 8.6% | 10.7% | 10.4% | 6.3% | 7.9% | 11.6% | 10.6% | 6.4% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹88,512 Crup 16.53%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹8,188 Crup 35.58%
- Net margin
- 9.3%
Revenue by year
Net profit by year, a loss in red
The years either side of a change of basis do not compare. From the year to Mar 2025, the company's revenue for that year, ₹75,955 Cr, differs from its quarters added, ₹73,961 Cr.
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 28,646 | 32,305 | 37,379 | 42,125 | 44,726 | 52,599 | 63,240 | 70,908 | 75,955 | 88,512 |
| Net profit | 2,715 | 2,224 | 2,432 | 5,810 | 5,462 | 7,334 | 5,073 | 7,004 | 6,040 | 8,188 |
| Net margin | 9.5% | 6.9% | 6.5% | 13.8% | 12.2% | 13.9% | 8.0% | 9.9% | 8.0% | 9.3% |
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
At or below today's level on 37% of 2,223 trading days over the last 10 years.
At or below today's level on 52% of 1,902 trading days since Oct 2018.
At or below today's level on 99% of 2,453 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend 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% |
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 timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 1
- Bought againBought again. Funds that held it at the month's end, had not held it the month before, and held it in an earlier month.
- 3
- AddedAdded. Funds that held more shares than at the end of the month before.
- 121
- CutCut. Funds that held fewer shares than at the end of the month before.
- 113
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 209
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 13
| Fund | |||
|---|---|---|---|
| 22,95,807 | 1.24% | ₹2,515.3 Cr | |
| 20,37,703 | 2.92% | ₹2,232.5 Cr | |
| 15,83,581 | 1.50% | ₹1,738.0 Cr | |
| 13,75,000 | 2.84% | ₹1,506.5 Cr | |
| 9,33,155 | 3.23% | ₹1,022.4 Cr | |
| 8,63,185 | 0.87% | ₹945.7 Cr | |
| 7,87,308 | 1.24% | ₹862.6 Cr | |
| 7,48,064 | 1.43% | ₹819.6 Cr | |
| 7,46,328 | 1.50% | ₹819.1 Cr | |
| 7,36,985 | 1.24% | ₹807.4 Cr |
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
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
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| 87,267 | – | 1.47 | +7.7% | – | – | 3.4% | 0.57% | |
| 83,058 | 52.46 | 3.48 | +14.3% | −7.9% | 6.8% | 6.8% | 0.65% | |
| 38,526 | 40.22 | 5.25 | +17.3% | −7.4% | 13.9% | 11.5% | 0.40% | |
| 27,655 | 56.44 | 1.54 | +6.1% | −56.4% | 2.7% | 5.0% | 0.34% | |
| 21,412 | 24.26 | 1.04 | +4.6% | −73.6% | 4.3% | 5.1% | 0.66% | |
| 17,290 | 26.81 | 2.14 | +8.6% | +101.2% | 8.3% | 5.0% | 0.34% | |
| 15,703 | 20.68 | 2.31 | – | – | 11.8% | 7.7% | 0.43% | |
| 11,931 | 28.76 | 1.25 | +10.6% | +52.0% | 4.4% | 6.6% | 0.00% |
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
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 30 Jul 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹240.00 |
| 25 Jul 2025 | Final | ₹77.50 |
| 30 Jul 2024 | Final | ₹70.00 |
| 27 Jul 2023 | Final | ₹38.00 |
| 2 Aug 2022 | Final | ₹38.00 |
| 2 Aug 2021 | Final | ₹37.00 |
Latest announcements
Routine notices left out.UltraTech Cement announcements
Oct 2026
26 Oct · Updates
19 Oct · Management
19 Oct · Management
19 Oct · Business
UltraTech Cement share price by year
Each calendar year to 2025.UltraTech Cement share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 11,784.00 | +3.1% | 12,874.00 | 10,128.45 |
| 2024 | 11,426.35 | +8.8% | 12,083.90 | 9,363.95 |
| 2023 | 10,503.05 | +50.9% | 10,503.05 | 6,705.10 |
| 2022 | 6,959.05 | −8.3% | 7,870.10 | 5,177.30 |
| 2021 | 7,591.05 | +43.5% | 8,214.05 | 5,290.80 |
| 2020 | 5,288.15 | +30.7% | 5,354.75 | 3,018.10 |
| 2019 | 4,046.05 | +1.4% | 4,841.05 | 3,374.45 |
| 2018 | 3,990.95 | −7.6% | 4,545.10 | 3,343.65 |
| 2017 | 4,320.60 | +32.9% | 4,485.15 | 3,279.45 |
| 2016 | 3,250.20 | +16.9% | 4,115.35 | 2,617.65 |
Recent sessions
The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 27 Oct 2026 | 11,085.00 | 11,186.00 | 11,021.00 | 11,150.00 | 11,121.45 | 2,88,694 | 58.8% |
| 26 Oct 2026 | 11,011.00 | 11,180.00 | 10,928.00 | 11,180.00 | 11,056.50 | 2,75,159 | 49.7% |
| 23 Oct 2026 | 10,958.00 | 11,050.00 | 10,802.00 | 11,050.00 | 10,912.97 | 3,03,532 | 53.1% |
| 22 Oct 2026 | 10,815.00 | 10,976.00 | 10,651.00 | 10,958.00 | 10,862.68 | 1,72,266 | 34.3% |
| 21 Oct 2026 | 10,822.00 | 10,959.00 | 10,717.00 | 10,849.00 | 10,838.62 | 3,95,978 | 44.4% |
| 19 Oct 2026 | 10,925.00 | 11,219.00 | 10,551.00 | 10,650.00 | 10,878.17 | 6,09,128 | 38.7% |
| 16 Oct 2026 | 10,920.00 | 10,985.00 | 10,774.00 | 10,907.00 | 10,904.40 | 1,82,520 | 52.2% |
| 15 Oct 2026 | 10,764.00 | 10,906.00 | 10,715.00 | 10,862.00 | 10,821.36 | 3,49,518 | 54.9% |
| 14 Oct 2026 | 10,741.00 | 10,855.00 | 10,650.00 | 10,795.00 | 10,783.84 | 3,00,764 | 62.3% |
Company details
- NSE symbol
- ULTRACEMCO
- BSE code
- 532538
- ISIN
- INE481G01011
- Industry
- Cement & Cement Products
- Website
- www.ultratechcement.com
- 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