UltraTech Cement Limited

NSEI:ULTRACEMCO Stock Report

Market Cap: ₹3.7t

UltraTech Cement Valuation

Is ULTRACEMCO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ULTRACEMCO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
₹5.18k
Fair Value
141.3% overvalued intrinsic discount
41
Number of Analysts

Below Fair Value: ULTRACEMCO (₹12495) is trading above our estimate of fair value (₹5177.42)

Significantly Below Fair Value: ULTRACEMCO is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ULTRACEMCO?

Key metric: As ULTRACEMCO is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ULTRACEMCO. This is calculated by dividing ULTRACEMCO's market cap by their current earnings.
What is ULTRACEMCO's PE Ratio?
PE Ratio60.9x
Earnings₹60.39b
Market Cap₹3.68t

Price to Earnings Ratio vs Peers

How does ULTRACEMCO's PE Ratio compare to its peers?

The above table shows the PE ratio for ULTRACEMCO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average60.8x
GRASIM Grasim Industries
50.6x-35.44%₹1.9t
500425 Ambuja Cements
34.6x12.30%₹1.4t
SHREECEM Shree Cement
100.3x26.81%₹1.1t
532644 J.K. Cement
57.9x23.26%₹498.2b
ULTRACEMCO UltraTech Cement
60.9x28.17%₹3.7t

Price-To-Earnings vs Peers: ULTRACEMCO is expensive based on its Price-To-Earnings Ratio (60.9x) compared to the peer average (60.8x).

Price to Earnings Ratio vs Industry

How does ULTRACEMCO's PE Ratio compare vs other companies in the IN Basic Materials Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
513528 Glittek Granites
3.5xn/aUS$2.83m
No more companies available in this PE range
ULTRACEMCO 60.9xIndustry Avg. 44.6xNo. of Companies7PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ULTRACEMCO is expensive based on its Price-To-Earnings Ratio (60.9x) compared to the Indian Basic Materials industry average (44.6x).

Price to Earnings Ratio vs Fair Ratio

What is ULTRACEMCO's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ULTRACEMCO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio60.9x
Fair PE Ratio55.5x

Price-To-Earnings vs Fair Ratio: ULTRACEMCO is expensive based on its Price-To-Earnings Ratio (60.9x) compared to the estimated Fair Price-To-Earnings Ratio (55.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ULTRACEMCO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹12,495.00
₹13,047.12
+4.42%
10.03%₹15,210.00₹7,350.00n/a41
Jul ’26₹12,210.00
₹12,984.33
+6.34%
10.06%₹15,210.00₹7,350.00n/a40
Jun ’26₹11,210.00
₹12,970.65
+15.71%
10.04%₹15,210.00₹7,350.00n/a40
May ’26₹11,641.00
₹12,864.40
+10.51%
9.54%₹14,200.00₹7,350.00n/a40
Apr ’26₹11,378.65
₹12,483.75
+9.71%
9.29%₹13,700.00₹7,100.00n/a40
Mar ’26₹10,128.45
₹12,500.33
+23.42%
9.43%₹13,800.00₹7,100.00n/a39
Feb ’26₹11,259.15
₹12,499.56
+11.02%
9.43%₹13,800.00₹7,100.00n/a39
Jan ’26₹11,447.00
₹11,922.64
+4.16%
10.23%₹13,620.00₹6,900.00n/a39
Dec ’25₹11,202.15
₹11,847.31
+5.76%
10.39%₹13,750.00₹6,900.00n/a39
Nov ’25₹11,145.80
₹11,859.62
+6.40%
10.44%₹13,750.00₹6,900.00n/a39
Oct ’25₹11,837.15
₹11,896.16
+0.50%
10.54%₹13,620.00₹7,000.00n/a38
Sep ’25₹11,301.90
₹11,862.47
+4.96%
10.57%₹13,620.00₹7,000.00n/a38
Aug ’25₹11,984.50
₹11,823.16
-1.35%
11.18%₹13,620.00₹7,000.00n/a38
Jul ’25₹11,904.65
₹11,254.87
-5.46%
11.07%₹13,300.00₹7,200.00₹12,210.0038
Jun ’25₹9,915.50
₹11,038.63
+11.33%
10.30%₹12,500.00₹7,200.00₹11,210.0038
May ’25₹9,971.85
₹10,977.55
+10.09%
10.88%₹12,500.00₹7,200.00₹11,641.0038
Apr ’25₹9,954.40
₹10,788.57
+8.38%
10.91%₹12,300.00₹7,000.00₹11,378.6537
Mar ’25₹10,135.50
₹10,745.92
+6.02%
11.18%₹12,300.00₹7,150.00₹10,128.4537
Feb ’25₹9,922.30
₹10,704.25
+7.88%
11.34%₹12,300.00₹7,150.00₹11,259.1536
Jan ’25₹10,464.00
₹9,442.05
-9.77%
9.78%₹11,500.00₹6,850.00₹11,447.0037
Dec ’24₹9,033.85
₹9,332.59
+3.31%
8.46%₹10,500.00₹6,850.00₹11,202.1537
Nov ’24₹8,381.45
₹9,150.60
+9.18%
8.46%₹10,500.00₹6,850.00₹11,145.8040
Oct ’24₹8,254.85
₹8,869.53
+7.45%
8.48%₹10,220.00₹6,600.00₹11,837.1540
Sep ’24₹8,262.40
₹8,871.98
+7.38%
8.51%₹10,220.00₹6,600.00₹11,301.9041
Aug ’24₹8,281.80
₹8,826.21
+6.57%
8.58%₹10,220.00₹6,600.00₹11,984.5042
Jul ’24₹8,294.75
₹8,392.47
+1.18%
11.25%₹10,220.00₹5,241.00₹11,904.6538
AnalystConsensusTarget
Consensus Narrative from 41 Analysts
₹13.05k
Fair Value
4.2% undervalued intrinsic discount
41
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/07/13 03:46
End of Day Share Price 2025/07/11 00:00
Earnings2025/03/31
Annual Earnings2025/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

UltraTech Cement Limited is covered by 90 analysts. 37 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ashwin MehtaAmbit Capital
Satyadeep JainAmbit Capital
Nitin BhasinAmbit Capital