UltraTech Cement Limited

NSEI:ULTRACEMCO Stock Report

Market Cap: ₹3.1t

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.

Below Fair Value: ULTRACEMCO (₹10630.9) is trading above our estimate of fair value (₹3849.14)

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 Ratio46.8x
Earnings₹65.52b
Market Cap₹3.06t

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 Average38.4x
GRASIM Grasim Industries
38.1x-33.1%₹1.7t
500425 Ambuja Cements
45.6x27.3%₹1.4t
SHREECEM Shree Cement
49.9x17.6%₹863.6b
ACC ACC
20.1x12.9%₹410.8b
ULTRACEMCO UltraTech Cement
46.8x25.3%₹3.1t

Price-To-Earnings vs Peers: ULTRACEMCO is expensive based on its Price-To-Earnings Ratio (46.8x) compared to the peer average (38.4x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
ULTRACEMCO 46.8xIndustry Avg. 37.2xNo. of Companies7PE020406080100+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ULTRACEMCO is expensive based on its Price-To-Earnings Ratio (46.8x) compared to the Indian Basic Materials industry average (37.9x).

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 Ratio46.8x
Fair PE Ratio44.7x

Price-To-Earnings vs Fair Ratio: ULTRACEMCO is expensive based on its Price-To-Earnings Ratio (46.8x) compared to the estimated Fair Price-To-Earnings Ratio (44.7x).

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₹10,630.90
₹11,847.31
+11.4%
10.4%₹13,750.00₹6,900.00n/a39
Nov ’25₹11,145.80
₹11,859.62
+6.4%
10.4%₹13,750.00₹6,900.00n/a39
Oct ’25₹11,837.15
₹11,896.16
+0.5%
10.5%₹13,620.00₹7,000.00n/a38
Sep ’25₹11,301.90
₹11,862.47
+5.0%
10.6%₹13,620.00₹7,000.00n/a38
Aug ’25₹11,984.50
₹11,823.16
-1.3%
11.2%₹13,620.00₹7,000.00n/a38
Jul ’25₹11,904.65
₹11,254.87
-5.5%
11.1%₹13,300.00₹7,200.00n/a38
Jun ’25₹9,915.50
₹11,038.63
+11.3%
10.3%₹12,500.00₹7,200.00n/a38
May ’25₹9,971.85
₹10,977.55
+10.1%
10.9%₹12,500.00₹7,200.00n/a38
Apr ’25₹9,954.40
₹10,788.57
+8.4%
10.9%₹12,300.00₹7,000.00n/a37
Mar ’25₹10,135.50
₹10,745.92
+6.0%
11.2%₹12,300.00₹7,150.00n/a37
Feb ’25₹9,922.30
₹10,704.25
+7.9%
11.3%₹12,300.00₹7,150.00n/a36
Jan ’25₹10,464.00
₹9,442.05
-9.8%
9.8%₹11,500.00₹6,850.00n/a37
Dec ’24₹9,033.85
₹9,332.59
+3.3%
8.5%₹10,500.00₹6,850.00n/a37
Nov ’24₹8,381.45
₹9,150.60
+9.2%
8.5%₹10,500.00₹6,850.00₹11,145.8040
Oct ’24₹8,254.85
₹8,869.53
+7.4%
8.5%₹10,220.00₹6,600.00₹11,837.1540
Sep ’24₹8,262.40
₹8,871.98
+7.4%
8.5%₹10,220.00₹6,600.00₹11,301.9041
Aug ’24₹8,281.80
₹8,826.21
+6.6%
8.6%₹10,220.00₹6,600.00₹11,984.5042
Jul ’24₹8,294.75
₹8,392.47
+1.2%
11.3%₹10,220.00₹5,241.00₹11,904.6538
Jun ’24₹7,842.80
₹8,319.63
+6.1%
10.7%₹10,220.00₹5,241.00₹9,915.5038
May ’24₹7,556.20
₹8,192.58
+8.4%
10.4%₹9,547.00₹5,241.00₹9,971.8540
Apr ’24₹7,622.15
₹7,848.33
+3.0%
10.3%₹9,547.00₹5,241.00₹9,954.4039
Mar ’24₹7,274.15
₹7,765.90
+6.8%
10.0%₹9,547.00₹5,241.00₹10,135.5039
Feb ’24₹7,141.40
₹7,746.61
+8.5%
10.0%₹9,547.00₹5,241.00₹9,922.3041
Jan ’24₹6,959.05
₹7,476.90
+7.4%
10.7%₹9,311.00₹4,980.00₹10,464.0041
Dec ’23₹7,274.00
₹7,449.59
+2.4%
10.7%₹9,311.00₹4,980.00₹9,033.8541
Nov ’23₹6,820.90
₹7,419.68
+8.8%
10.2%₹9,000.00₹4,980.00₹8,381.4541

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

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