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Indian (NIFTY) Construction Materials Industry Analysis

UpdatedApr 12, 2026
DataAggregated Company Financials
Companies64
  • 7D7.8%
  • 3M-6.2%
  • 1Y-4.8%
  • YTDn/a

In the last week, the Construction Materials industry is up 7.8%, with UltraTech Cement up 9.1%. Meanwhile, Sanghi Industries actually underperformed within the industry, shrinking 6.9% in the last week. However, the industry is down 4.8% over the past year. Earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

Has the Indian Construction Materials Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 13 Apr 2026₹9.7t₹4.6t₹251.7b24.7x38.5x2.1x
Wed, 11 Mar 2026₹9.6t₹4.6t₹247.6b24.2x38.9x2.1x
Fri, 06 Feb 2026₹10.7t₹4.5t₹241.2b29x44.3x2.4x
Sun, 04 Jan 2026₹10.5t₹4.4t₹261.8b30.3x40.1x2.4x
Tue, 02 Dec 2025₹10.2t₹4.4t₹261.8b31.1x39.1x2.3x
Thu, 30 Oct 2025₹10.9t₹4.3t₹229.9b34.1x47.3x2.5x
Sat, 27 Sep 2025₹10.7t₹4.3t₹212.6b34x50.3x2.5x
Mon, 25 Aug 2025₹11.1t₹4.3t₹226.0b33.2x49.1x2.6x
Wed, 23 Jul 2025₹11.0t₹4.1t₹208.8b45.1x52.7x2.7x
Fri, 20 Jun 2025₹10.0t₹4.1t₹201.8b40.5x49.8x2.4x
Sun, 18 May 2025₹10.5t₹4.0t₹199.3b37.8x52.5x2.6x
Tue, 15 Apr 2025₹9.9t₹4.0t₹201.9b31.6x49.1x2.5x
Thu, 13 Mar 2025₹9.0t₹4.0t₹202.2b31.1x44.7x2.3x
Sat, 08 Feb 2025₹9.7t₹3.9t₹209.2b33.5x46.6x2.5x
Mon, 06 Jan 2025₹9.9t₹3.9t₹203.2b37.3x48.8x2.5x
Wed, 04 Dec 2024₹10.3t₹3.9t₹203.1b40x50.5x2.6x
Fri, 01 Nov 2024₹9.9t₹3.9t₹222.6b33.7x44.5x2.5x
Sun, 29 Sep 2024₹10.4t₹3.9t₹239.4b32.2x43.6x2.7x
Tue, 27 Aug 2024₹10.1t₹3.9t₹239.3b33.2x42.2x2.6x
Thu, 25 Jul 2024₹10.5t₹3.9t₹249.5b33.5x41.9x2.7x
Sat, 22 Jun 2024₹9.9t₹3.9t₹248.5b32.5x39.9x2.5x
Mon, 20 May 2024₹9.4t₹3.9t₹241.6b32.5x38.8x2.4x
Wed, 17 Apr 2024₹8.9t₹3.8t₹234.5b31.3x37.8x2.3x
Fri, 15 Mar 2024₹8.8t₹3.8t₹234.4b28.8x37.4x2.3x
Sun, 11 Feb 2024₹9.2t₹3.8t₹233.8b34.9x39.3x2.4x
Tue, 09 Jan 2024₹8.9t₹3.8t₹216.9b37.3x41.2x2.4x
Thu, 07 Dec 2023₹8.6t₹3.8t₹216.9b35.7x39.6x2.3x
Sat, 04 Nov 2023₹7.7t₹3.7t₹205.4b34x37.7x2.1x
Mon, 02 Oct 2023₹7.7t₹3.7t₹185.2b30.7x41.8x2.1x
Wed, 30 Aug 2023₹7.5t₹3.7t₹184.0b32.3x40.9x2x
Fri, 28 Jul 2023₹7.5t₹3.6t₹189.3b33.6x39.5x2.1x
Sun, 25 Jun 2023₹7.4t₹3.6t₹185.8b28.8x39.7x2.1x
Tue, 23 May 2023₹7.1t₹3.5t₹209.7b25.6x33.7x2x
Thu, 20 Apr 2023₹6.9t₹3.4t₹210.3b23.2x32.9x2x
Price to Earnings Ratio

32.9x


Total Market Cap: ₹6.9tTotal Earnings: ₹210.3bTotal Revenue: ₹3.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Construction Materials Industry Price to Earnings3Y Average 42.8x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Construction Materials industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 38.5x which is lower than its 3-year average PE of 42.8x.
  • The 3-year average PS ratio of 2.4x is higher than the industry's current PS ratio of 2.1x.
Past Earnings Growth
  • The earnings for companies in the Construction Materials industry have grown 6.2% per year over the last three years.
  • Revenues for these companies have grown 10% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Indian Construction Materials compare with similar industries?

IN Market6.90%
Materials7.25%
Basic Materials7.84%
Construction Materials7.84%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
ULTRACEMCO UltraTech Cement₹11.59k9.1%
+₹285.1b		0.8%PE44.5x
GRASIM Grasim Industries₹2.74k7.0%
+₹121.1b		3.4%PE41.3x
500425 Ambuja Cements₹445.056.4%
+₹66.1b		-18.9%PE29.8x
SHREECEM Shree Cement₹24.34k5.3%
+₹43.8b		-19.2%PE49x
532644 J.K. Cement₹5.72k10.9%
+₹43.5b		15.6%PE43.4x

Latest News

ACC
₹1,424.60
ACC
7D
7.4%
1Y
-29.0%

ACC: Upcoming Governance Meetings Will Support Bullish Repricing Narrative

Narrative Update on ACC Analysts have trimmed their fair value estimate for ACC from ₹1,983.24 to ₹1,907.44, reflecting updated assumptions around the discount rate, revenue growth, profit margin, and future P/E. What's in the News ACC has scheduled a Special or Extraordinary Shareholders Meeting on April 1, 2026, via postal ballot in India.
DALBHARAT
₹1,968.70
Dalmia Bharat
7D
9.7%
1Y
8.7%

DALBHARAT: Upcoming Results Meeting Will Shape View On Earnings And Future P/E

Analysts have reduced their price target on Dalmia Bharat from ₹2,015 to about ₹1,885, reflecting updated assumptions regarding discount rates, revenue growth, profit margins and future P/E multiples. What's in the News Dalmia Bharat has scheduled a board meeting for Jan 21, 2026, at 13:40 Indian Standard Time.
SPRL
₹110.15
SP Refractories
7D
-5.0%
1Y
-13.3%
GRASIM
₹2,742.60
Grasim Industries
7D
7.0%
1Y
3.4%

GRASIM: Upcoming Leadership Appointments Will Support Governance Stability And Earnings Resilience

Analysts have modestly adjusted their fair value estimate for Grasim Industries from ₹3,435.55 to ₹3,413.73, reflecting updated assumptions on the discount rate, growth, and profitability. What's in the News A board meeting is scheduled for Jan 16, 2026 to consider appointing Mr. Sachin Sahay as Chief Executive Officer of Birla Opus Paints and as Senior Management Personnel of the company, effective Feb 16, 2026 (Key Developments).
SHREECEM
₹24,340.00
Shree Cement
7D
5.3%
1Y
-19.2%

SHREECEM: Upcoming Board Decisions Will Support Undervalued Long Term Upside

Analysts have adjusted their view on Shree Cement, trimming the price target slightly from ₹28,602.53 to ₹28,479.03. This reflects a modestly higher discount rate, a marginally lower profit margin outlook, and a broadly unchanged revenue growth assumption alongside a similar forward P/E multiple.
532644
₹5,724.35
J.K. Cement
7D
10.9%
1Y
15.6%

532644: Planned Capacity Additions Will Support Future Upside Potential

Analysts have trimmed their price target for J.K. Cement slightly, with updated assumptions on fair value to ₹6,555.59, a modestly higher discount rate and small tweaks to revenue growth, profit margin and future P/E expectations. What's in the News A board meeting is scheduled on Jan 16, 2026 to review a proposed 1.00 MnTPA cement grinding capacity addition at JK Cement Works, Panna, and another 1.00 MnTPA cement grinding capacity addition at JK Cement Works, Hamirpur (company filing).
500425
₹445.05
Ambuja Cements
7D
6.4%
1Y
-18.9%

500425: Leadership Changes And Upcoming Results Will Drive The Next Rally

Analysts have trimmed Ambuja Cements' indicative fair value slightly from ₹609.00 to about ₹605.71, reflecting updated assumptions around discount rate, revenue growth, profit margin and future P/E expectations. What's in the News Board meeting scheduled for Jan 30, 2026, to review and approve unaudited financial results for the quarter and nine months ended Dec 31, 2025 (company event filing).
502294
₹41.50
Nilachal Refractories
7D
-6.0%
1Y
8.4%
ULTRACEMCO
₹11,589.00
UltraTech Cement
7D
9.1%
1Y
0.8%

ULTRACEMCO: Expanding Capacity Will Drive Future Upside Despite Ongoing GST Disputes

The analyst fair value estimate for UltraTech Cement has moved slightly from ₹14,090.92 to ₹14,044.87, with the adjustment linked to modest tweaks in the discount rate, revenue growth, profit margin and future P/E assumptions as analysts refine their models. What's in the News UltraTech Cement received multiple GST orders from state and central authorities in Maharashtra, Tamil Nadu and Haryana related to alleged ineligible or excess Input Tax Credit and supplies to customers later deemed non existent, with combined tax demands, interest and penalties across various years that the company plans to contest, while indicating it does not expect a material financial impact.
500322
₹109.10
Panyam Cements and Mineral Industries
7D
-4.1%
1Y
-3.6%
531338
₹16.70
Milestone Global
7D
-9.6%
1Y
-23.9%
SANGHIIND
₹53.55
Sanghi Industries
7D
-6.9%
1Y
-1.1%
531281
₹95.98
Marble City India
7D
-1.1%
1Y
-33.1%
JSWCEMENT
₹127.43
JSW Cement
7D
9.9%
1Y
n/a

JSW Cement Limited (NSE:JSWCEMENT) Not Lagging Industry On Growth Or Pricing

Feb 06
JSW Cement Limited (NSE:JSWCEMENT) Not Lagging Industry On Growth Or Pricing
531168
₹184.00
Associated Ceramics
7D
-3.2%
1Y
-14.1%
540072
₹11.51
Shiva Granito Export
7D
-13.5%
1Y
-35.0%