India's Most Valuable Companies 2021 edition · Source: Hurun India
Rank#19- Valuation
- ₹2,12,281 Cr
Market Cap
₹3,22,909 Cr
ULTRACEMCO · NSE
Share Price
₹11,050.00
+0.84% today
Revenue
₹88,512 Cr
FY 2025-26 · +16.5% YoY
EBITDA
₹16,866 Cr
Margin 19.1%
Net Profit
₹8,176 Cr
FY 2025-26 · +40.8% YoY
P/E (TTM)
36.0x
P/B 4.3x
ROE
11.1%
ROCE 13.0%
Debt / Equity
0.32
Interest cover 15.3x
About Ultratech Cement Limited
Data last updated:
Ultratech Cement Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Grasim Industries Ltd. It operates in the cement and cement products segment of the manufacturing sector. It was incorporated on 24 August 2000 and has been in existence for over 26 years.
Ultratech Cement is part of the Nifty 50, Sensex, Nifty 500 and BSE 500 indices. Its director Kumar Mangalam Birla and family are #6 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L26940MH2000PLC128420. Its GSTIN is 27AAACL6442L1ZA (Maharashtra). The company holds 48 GST registrations, of which 31 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 532538 and NSE: ULTRACEMCO.
The company has an authorised share capital of ₹7,900.15 Cr and a paid-up capital of ₹1,358.19 Cr. It was formerly known as L&T Cement Limited. It is led by directors including Kailash Chandra Jhanwar (Managing Director) and Vivek Agrawal (Whole-Time Director).
Its last annual general meeting (AGM) was held on 19 August 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at B – Wing Ahura Centre 2nd Floor Mahakali Caves Road Andheri East, Mumbai, Maharashtra, India – 400093.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹88,512 Cr, a growth of 16.5% compared to the previous year. For the same year it recorded a net profit of ₹8,176.27 Cr (net margin 9.2%) and EBITDA of ₹16,866 Cr (EBITDA margin 19.1%). The net worth stands at ₹76,624 Cr (up 8.4% YoY). Total assets are valued at ₹1,05,639 Cr (up 6.5% YoY).
The company has about 25,165 employees on its provident fund (EPFO) records. Its group structure includes 4 subsidiaries and 1 joint venture.
The company is associated with 2 brands: Birla White and UltraTech Cement. As per MCA filings, the company has open charges of ₹785.74 Cr and satisfied charges of ₹28,928 Cr on record. Court records list 4,633 cases involving the company, including 3,450 filed by the company and 1,189 filed against it; 1,499 cases are pending. The company has 53 deals on record (49 market trades, 1 funding round, 1 acquisition), with disclosed funding of ₹325 Cr; the latest was in August 2026. Its 3 peer companies in the Manufacturing industry (Cement and Cement Products), with the same principal business activity (other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities) are compared by revenue, 3 smaller; the largest is Ambuja Cements Limited with revenue of ₹37,699 Cr. The company has 13 MSME Form 1 returns on record between 2019 and 2024, listing 1,579 overdue payments to 580 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website ultratechcement.com.
Company details
CIN L26940MH2000PLC128420
Registration Number 128420
Incorporation Date 24 August 2000
ROC Mumbai
Listing Status Listed - Listed on NSE (ULTRACEMCO); Listed on BSE (532538)
Company Status Active
Date of Last AGM 19 August 2025
Date of Balance Sheet 31 March 2026
Parent Company Grasim Industries Ltd
Compliance Status Active Compliant
Key People
Kailash Chandra Jhanwar Managing Director Vivek Agrawal Whole-Time Director Krishnakishore Maheshwari Director Recognitions & Rankings of Ultratech Cement
India's Richest People 2026 edition · 1 director · Source: Hurun India
- #6 Kumar Mangalam Birla & family ₹2,68,700 Cr
Stock market indices
Nifty 50 Sensex Nifty 500 BSE 500
Contact details
Ultratech Cement Limited's registered office is in Mumbai, Maharashtra. Its website is ultratechcement.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressB – Wing Ahura Centre 2nd Floor Mahakali Caves Road Andheri East, Mumbai, Maharashtra, India – 400093
- IndustryManufacturing, Cement & Cement Products
To see the full contact details of Ultratech Cement Limited, buy the company report.
Comprehensive company report
Ultratech Cement Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Ultratech Cement operates two associated brands: Birla White and UltraTech Cement. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Produces high-quality cement products for construction needs. | birlawhite.com | |
| Grey cement, ready-mix concrete, and white cement are manufactured. | ultratechcement.com |
Business activity
The main business activity of Ultratech Cement is manufacturing. In detail, this covers other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C13 | Other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities |
To see the full business activity and turnover split of Ultratech Cement Limited, buy the company report.
Financials of Ultratech Cement Limited
FY 2025-26 filings availableUltratech Cement Limited reported revenue of ₹88,512 Cr (up 16.5% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹88,512 Cr
+16.5% YoY
EBITDA
₹16,866 Cr
+35.5% YoY
Profit After Tax
₹8,176 Cr
+40.8% YoY
Net Worth
₹76,624 Cr
+8.4% YoY
Total Assets
₹1,05,639 Cr
+6.5% YoY
Total Debt
₹23,755 Cr
-1.4% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 88,512 | 75,955 | 70,908 | 63,240 | 52,599 | 44,726 | 42,430 |
| Revenue growth | +16.5% | +7.1% | +12.1% | +20.2% | +17.6% | +5.4% | - |
| EBITDA | 16,866 | 12,449 | 12,897 | 10,620 | 11,514 | 11,307 | 9,246 |
| EBITDA margin | +19.1% | +16.4% | +18.2% | +16.8% | +21.9% | +25.3% | +21.8% |
| Profit before tax | 10,927 | 7,528 | 9,422 | 7,416 | 8,524 | 8,001 | 5,183 |
| Net profit | 8,176 | 5,808 | 6,993 | 5,042 | 7,182 | 5,533 | 5,688 |
| Net profit margin | +9.2% | +7.7% | +9.9% | +8.0% | +13.7% | +12.4% | +13.4% |
| EPS (₹) | 277.10 | 204.94 | 242.65 | 175.41 | 254.42 | 189.26 | 199.40 |
| Balance sheet | |||||||
| Total assets | 1,05,639 | 99,206 | 72,601 | 66,386 | 62,657 | 66,847 | 63,618 |
| Net worth | 76,624 | 70,707 | 60,227 | 54,325 | 50,435 | 44,175 | 39,044 |
| Total debt | 23,755 | 24,102 | 11,403 | 11,058 | 11,299 | 21,719 | 23,019 |
| Cash & bank | 1,384 | 1,673 | 783 | 1,150 | 359 | 2,008 | 540 |
| Net working capital | (4,481) | (4,171) | (4,094) | (3,853) | (2,621) | (1,136) | (818) |
| Cash flow | |||||||
| Cash from operations | 15,316 | 10,673 | 10,898 | 9,069 | 9,283 | 12,500 | 8,972 |
| Cash from investing | (9,475) | (15,836) | (8,789) | (7,188) | 2,257 | (8,856) | (4,192) |
| Cash from financing | (5,954) | 5,076 | (1,926) | (1,631) | (12,498) | (4,356) | (5,076) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 23,295 | 24,648 | 25,799 | 21,830 | 19,607 | 21,275 | 23,063 | 17,779 |
| Revenue growth (YoY) | +18.8% | +15.9% | +11.9% | +22.8% | +20.3% | +13.1% | - | - |
| Other income | 111 | 132 | 87.56 | 136 | 174 | 180 | 102 | 247 |
| EBITDA | 3,713 | 5,002 | 5,588 | 3,822 | 3,089 | 4,368 | 4,598 | 2,893 |
| EBITDA margin | +15.9% | +20.3% | +21.7% | +17.5% | +15.8% | +20.5% | +19.9% | +16.3% |
| Depreciation | 1,213 | 1,201 | 1,208 | 1,182 | 1,148 | 1,107 | 1,125 | 993 |
| Interest | 552 | 453 | 487 | 492 | 459 | 433 | 475 | 457 |
| Profit before tax | 2,059 | 3,480 | 3,981 | 2,283 | 1,656 | 3,008 | 3,101 | 1,691 |
| Tax | 557 | 877 | 981 | 554 | 418 | 787 | 626 | 328 |
| Net profit | 1,501 | 2,604 | 3,000 | 1,729 | 1,238 | 2,221 | 2,475 | 1,363 |
| EPS (₹) | 50.75 | 88.36 | 101.35 | 58.62 | 41.84 | 75.61 | 84.31 | 46.17 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 82,170 | 71,895 | 68,641 | 61,237 | 50,663 | 43,188 | 40,649 |
| Revenue growth | +14.3% | +4.7% | +12.1% | +20.9% | +17.3% | +6.3% | - |
| EBITDA | 15,335 | 12,208 | 12,548 | 10,286 | 10,936 | 10,801 | 8,652 |
| EBITDA margin | +18.7% | +17.0% | +18.3% | +16.8% | +21.6% | +25.0% | +21.3% |
| Profit before tax | 10,027 | 7,697 | 9,316 | 7,262 | 8,293 | 7,896 | 5,220 |
| Net profit | 7,411 | 5,965 | 6,893 | 4,930 | 6,905 | 5,346 | 5,402 |
| Net profit margin | +9.0% | +8.3% | +10.0% | +8.1% | +13.6% | +12.4% | +13.3% |
| EPS (₹) | 251.30 | 210.15 | 239.18 | 171.52 | 244.80 | 185.07 | 189.02 |
| Balance sheet | |||||||
| Total assets | 96,121 | 91,031 | 68,995 | 63,991 | 60,940 | 62,333 | 57,611 |
| Net worth | 74,663 | 69,678 | 59,095 | 53,408 | 49,271 | 43,353 | 38,296 |
| Total debt | 20,480 | 20,360 | 9,011 | 9,704 | 10,776 | 18,314 | 18,282 |
| Cash & bank | 302 | 800 | 770 | 1,071 | 260 | 1,877 | 311 |
| Net working capital | (6,114) | (5,061) | (5,658) | (4,530) | (344) | (683) | 341 |
| Cash flow | |||||||
| Cash from operations | 14,398 | 9,576 | 10,899 | 9,757 | 8,670 | 11,549 | 8,259 |
| Cash from investing | (9,815) | (15,373) | (7,830) | (7,122) | 789 | (8,984) | (3,951) |
| Cash from financing | (4,858) | 5,566 | (2,861) | (2,379) | (9,501) | (2,586) | (4,591) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 22,108 | 23,535 | 24,582 | 20,088 | 17,864 | 19,635 | 21,135 | 16,914 |
| Revenue growth (YoY) | +23.8% | +19.9% | +16.3% | +18.8% | +14.8% | +7.4% | - | - |
| Other income | 84.57 | 121 | 67.79 | 81.62 | 72.64 | 154 | 115 | 209 |
| Total expenses | 18,804 | 18,956 | 19,647 | 16,660 | 15,094 | 15,433 | 16,525 | 14,128 |
| EBITDA | 3,304 | 4,579 | 4,935 | 3,428 | 2,770 | 4,202 | 4,610 | 2,786 |
| EBITDA margin | +14.9% | +19.5% | +20.1% | +17.1% | +15.5% | +21.4% | +21.8% | +16.5% |
| Depreciation | 1,068 | 1,051 | 1,054 | 1,024 | 1,002 | 975 | 991 | 933 |
| Interest | 494 | 396 | 431 | 433 | 396 | 370 | 400 | 417 |
| Profit before tax | 1,826 | 3,253 | 3,518 | 2,053 | 1,445 | 3,011 | 3,335 | 1,646 |
| Tax | 495 | 856 | 920 | 542 | 381 | 779 | 652 | 321 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 23 Oct 2026
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 23,295 | 24,648 | 25,799 | 21,830 | 19,607 | 21,275 | 23,063 | 17,779 |
| Revenue growth (YoY) | +18.8% | +15.9% | +11.9% | +22.8% | +20.3% | +13.1% | - | - |
| Other income | 111 | 132 | 87.56 | 136 | 174 | 180 | 102 | 247 |
| EBITDA | 3,713 | 5,002 | 5,588 | 3,822 | 3,089 | 4,368 | 4,598 | 2,893 |
| EBITDA margin | +15.9% | +20.3% | +21.7% | +17.5% | +15.8% | +20.5% | +19.9% | +16.3% |
| Depreciation | 1,213 | 1,201 | 1,208 | 1,182 | 1,148 | 1,107 | 1,125 | 993 |
| Interest | 552 | 453 | 487 | 492 | 459 | 433 | 475 | 457 |
| Profit before tax | 2,059 | 3,480 | 3,981 | 2,283 | 1,656 | 3,008 | 3,101 | 1,691 |
| Tax | 557 | 877 | 981 | 554 | 418 | 787 | 626 | 328 |
| Net profit | 1,501 | 2,604 | 3,000 | 1,729 | 1,238 | 2,221 | 2,475 | 1,363 |
| EPS (₹) | 50.75 | 88.36 | 101.35 | 58.62 | 41.84 | 75.61 | 84.31 | 46.17 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 88,512 | 75,955 | 70,908 | 63,240 | 52,599 | 44,726 | 42,430 |
| Revenue growth | +16.5% | +7.1% | +12.1% | +20.2% | +17.6% | +5.4% | - |
| Other income | 578 | 744 | 639 | 507 | 669 | 879 | 651 |
| Total expenses | 71,646 | 63,506 | 58,012 | 52,620 | 41,084 | 33,419 | 33,184 |
| Employee cost | 4,162 | 3,605 | 3,038 | 2,739 | 2,535 | 2,353 | 2,520 |
| EBITDA | 16,866 | 12,449 | 12,897 | 10,620 | 11,514 | 11,307 | 9,246 |
| EBITDA margin | +19.1% | +16.4% | +18.2% | +16.8% | +21.9% | +25.3% | +21.8% |
| Depreciation | 4,644 | 4,015 | 3,145 | 2,888 | 2,715 | 2,700 | 2,723 |
| Interest | 1,872 | 1,651 | 968 | 823 | 945 | 1,486 | 1,992 |
| Profit before tax | 10,927 | 7,528 | 9,422 | 7,416 | 8,524 | 8,001 | 5,183 |
| Tax | 2,739 | 1,488 | 2,418 | 2,343 | 1,190 | 2,539 | (568) |
| Net profit | 8,176 | 5,808 | 6,993 | 5,042 | 7,182 | 5,533 | 5,688 |
| Net profit margin | +9.2% | +7.7% | +9.9% | +8.0% | +13.7% | +12.4% | +13.4% |
| EPS (₹) | 277.10 | 204.94 | 242.65 | 175.41 | 254.42 | 189.26 | 199.40 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 295 | 295 | 289 | 289 | 289 | 289 | 289 |
| Reserves & surplus | 76,329 | 70,412 | 59,939 | 54,036 | 50,147 | 43,886 | 38,755 |
| Shareholders' funds (net worth) | 76,624 | 70,707 | 60,227 | 54,325 | 50,435 | 44,175 | 39,044 |
| Minority interest | 4,089 | 3,187 | 55.94 | 55.63 | (3.06) | 5.72 | 7.52 |
| Secured loans | 2,198 | 1,826 | 690 | 1,524 | 702 | 9,129 | 14,409 |
| Unsecured loans | 21,557 | 22,277 | 10,713 | 9,533 | 10,597 | 12,591 | 8,610 |
| Total debt | 23,755 | 24,102 | 11,403 | 11,058 | 11,299 | 21,719 | 23,019 |
| Total liabilities | 1,05,639 | 99,206 | 72,601 | 66,386 | 62,657 | 66,847 | 63,618 |
| Assets | |||||||
| Gross block | 1,27,473 | 1,18,631 | 83,280 | 76,957 | 70,002 | 67,332 | 66,550 |
| Net block | 98,794 | 94,564 | 62,878 | 59,579 | 55,488 | 55,412 | 57,151 |
| Capital work in progress | 8,742 | 6,234 | 6,811 | 4,040 | 4,785 | 1,687 | 920 |
| Investments | 6,740 | 5,156 | 8,249 | 7,297 | 6,336 | 12,178 | 5,929 |
| Inventories | 9,694 | 9,563 | 8,330 | 6,612 | 5,596 | 4,018 | 4,183 |
| Sundry debtors | 6,029 | 5,890 | 4,278 | 3,867 | 3,072 | 2,572 | 2,383 |
| Cash & bank balances | 1,384 | 1,673 | 783 | 1,150 | 359 | 2,008 | 540 |
| Loans & advances | 4,259 | 3,614 | 4,268 | 3,260 | 3,490 | 3,563 | 2,765 |
| Total current assets | 21,366 | 20,740 | 17,659 | 14,888 | 12,517 | 12,160 | 9,872 |
| Total current liabilities | 25,847 | 24,912 | 21,753 | 18,741 | 15,138 | 13,296 | 10,690 |
| Net working capital | (4,481) | (4,171) | (4,094) | (3,853) | (2,621) | (1,136) | (818) |
| Total assets | 1,05,639 | 99,206 | 72,601 | 66,386 | 62,657 | 66,847 | 63,618 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 467 | 554 | 370 | 121 | 177 | 147 | 443 |
| Net cash from operating activities | 15,316 | 10,673 | 10,898 | 9,069 | 9,283 | 12,500 | 8,972 |
| Net cash from investing activities | (9,475) | (15,836) | (8,789) | (7,188) | 2,257 | (8,856) | (4,192) |
| Net cash from financing activities | (5,954) | 5,076 | (1,926) | (1,631) | (12,498) | (4,356) | (5,076) |
| Net change in cash | (113) | (86.37) | 183 | 250 | (958) | (712) | (295) |
| Closing cash | 1,384 | 1,673 | 783 | 1,150 | 359 | 2,008 | 540 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +16.5% | +7.1% | +12.1% | +20.2% | +17.6% | +5.4% | - |
| EBITDA growth | +35.5% | -3.5% | +21.4% | -7.8% | +1.8% | +22.3% | - |
| PBT growth | +45.2% | -20.1% | +27.1% | -13.0% | +6.6% | +54.4% | +49.4% |
| Net income growth | +40.8% | -16.9% | +38.7% | -29.8% | +29.8% | -2.7% | - |
| Revenue CAGR (3Y) | +11.9% | +13.0% | +16.6% | +14.2% | +8.1% | +13.0% | +18.7% |
| EBITDA CAGR (3Y) | +16.7% | +2.6% | +4.5% | +4.7% | +16.8% | +24.9% | +21.1% |
| Profitability & leverage | |||||||
| Net income margin | +9.3% | +8.0% | +9.9% | +8.0% | +13.9% | +12.2% | +13.6% |
| Return on capital employed | +13.0% | +10.9% | +15.0% | +12.8% | +14.6% | +14.5% | +11.6% |
| Return on net worth | +11.1% | +9.2% | +12.2% | +9.7% | +15.5% | +13.1% | +15.8% |
| Debt / equity | 0.32 | 0.27 | 0.20 | 0.21 | 0.35 | 0.54 | 0.66 |
| Long-term debt / equity | 0.22 | 0.17 | 0.11 | 0.12 | 0.22 | 0.38 | 0.52 |
| Interest cover | 15.32 | 19.57 | 9.93 | 10.64 | 10.74 | 17.26 | 30.53 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.72 | 0.75 | 0.89 | 0.86 | 0.77 | 0.67 | 0.65 |
| Inventory turnover | 9.19 | 8.49 | 9.49 | 10.36 | 10.94 | 10.91 | 10.25 |
| Debtors turnover | 14.85 | 14.94 | 17.41 | 18.23 | 18.64 | 18.05 | 16.41 |
| EPS (₹) | 277.10 | 204.94 | 242.65 | 175.41 | 254.42 | 189.26 | 199.40 |
| Dividend per share (₹) | 240.00 | 77.50 | 70.00 | 38.00 | 38.00 | 37.00 | 13.00 |
| Book value per share (₹) | 2,600.23 | 2,399.42 | 2,086.23 | 1,881.76 | 1,747.16 | 1,530.39 | 1,352.73 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 22,108 | 23,535 | 24,582 | 20,088 | 17,864 | 19,635 | 21,135 | 16,914 |
| Revenue growth (YoY) | +23.8% | +19.9% | +16.3% | +18.8% | +14.8% | +7.4% | - | - |
| Other income | 84.57 | 121 | 67.79 | 81.62 | 72.64 | 154 | 115 | 209 |
| Total expenses | 18,804 | 18,956 | 19,647 | 16,660 | 15,094 | 15,433 | 16,525 | 14,128 |
| EBITDA | 3,304 | 4,579 | 4,935 | 3,428 | 2,770 | 4,202 | 4,610 | 2,786 |
| EBITDA margin | +14.9% | +19.5% | +20.1% | +17.1% | +15.5% | +21.4% | +21.8% | +16.5% |
| Depreciation | 1,068 | 1,051 | 1,054 | 1,024 | 1,002 | 975 | 991 | 933 |
| Interest | 494 | 396 | 431 | 433 | 396 | 370 | 400 | 417 |
| Profit before tax | 1,826 | 3,253 | 3,518 | 2,053 | 1,445 | 3,011 | 3,335 | 1,646 |
| Tax | 495 | 856 | 920 | 542 | 381 | 779 | 652 | 321 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 82,170 | 71,895 | 68,641 | 61,237 | 50,663 | 43,188 | 40,649 |
| Revenue growth | +14.3% | +4.7% | +12.1% | +20.9% | +17.3% | +6.3% | - |
| Other income | 376 | 693 | 662 | 505 | 612 | 789 | 727 |
| Total expenses | 66,834 | 59,687 | 56,093 | 50,952 | 39,727 | 32,388 | 31,997 |
| Employee cost | 3,659 | 3,299 | 2,910 | 2,621 | 2,359 | 2,182 | 2,336 |
| EBITDA | 15,335 | 12,208 | 12,548 | 10,286 | 10,936 | 10,801 | 8,652 |
| EBITDA margin | +18.7% | +17.0% | +18.3% | +16.8% | +21.6% | +25.0% | +21.3% |
| Depreciation | 4,055 | 3,739 | 3,027 | 2,773 | 2,457 | 2,434 | 2,455 |
| Interest | 1,630 | 1,465 | 867 | 756 | 798 | 1,259 | 1,704 |
| Profit before tax | 10,027 | 7,697 | 9,316 | 7,262 | 8,293 | 7,896 | 5,220 |
| Tax | 2,622 | 1,504 | 2,411 | 2,310 | 1,227 | 2,554 | (236) |
| Net profit | 7,411 | 5,965 | 6,893 | 4,930 | 6,905 | 5,346 | 5,402 |
| Net profit margin | +9.0% | +8.3% | +10.0% | +8.1% | +13.6% | +12.4% | +13.3% |
| EPS (₹) | 251.30 | 210.15 | 239.18 | 171.52 | 244.80 | 185.07 | 189.02 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 295 | 295 | 289 | 289 | 289 | 289 | 289 |
| Reserves & surplus | 74,369 | 69,383 | 58,807 | 53,119 | 48,982 | 43,064 | 38,008 |
| Shareholders' funds (net worth) | 74,663 | 69,678 | 59,095 | 53,408 | 49,271 | 43,353 | 38,296 |
| Secured loans | 5,814 | 5,427 | 690 | 703 | 694 | 6,472 | 11,591 |
| Unsecured loans | 14,665 | 14,933 | 8,321 | 9,001 | 10,082 | 11,842 | 6,690 |
| Total debt | 20,480 | 20,360 | 9,011 | 9,704 | 10,776 | 18,314 | 18,282 |
| Total liabilities | 96,121 | 91,031 | 68,995 | 63,991 | 60,940 | 62,333 | 57,611 |
| Assets | |||||||
| Gross block | 1,06,324 | 98,258 | 79,348 | 73,090 | 58,820 | 56,505 | 55,516 |
| Net block | 79,564 | 75,419 | 59,930 | 56,562 | 45,577 | 45,466 | 46,775 |
| Capital work in progress | 8,338 | 6,002 | 6,765 | 3,998 | 4,627 | 1,528 | 870 |
| Investments | 17,559 | 16,503 | 9,237 | 9,433 | 11,725 | 17,570 | 10,083 |
| Inventories | 8,387 | 8,567 | 8,036 | 6,266 | 5,163 | 3,722 | 3,834 |
| Sundry debtors | 4,862 | 4,378 | 3,497 | 3,242 | 2,707 | 2,286 | 1,848 |
| Cash & bank balances | 302 | 800 | 770 | 1,071 | 260 | 1,877 | 311 |
| Loans & advances | 3,550 | 3,306 | 3,250 | 3,057 | 6,019 | 4,296 | 4,478 |
| Total current assets | 17,101 | 17,051 | 15,553 | 13,636 | 14,148 | 12,180 | 10,470 |
| Total current liabilities | 23,215 | 22,112 | 21,211 | 18,166 | 14,492 | 12,864 | 10,129 |
| Net working capital | (6,114) | (5,061) | (5,658) | (4,530) | (344) | (683) | 341 |
| Total assets | 96,121 | 91,031 | 68,995 | 63,991 | 60,940 | 62,333 | 57,611 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 312 | 542 | 334 | 77.46 | 119 | 140 | 423 |
| Net cash from operating activities | 14,398 | 9,576 | 10,899 | 9,757 | 8,670 | 11,549 | 8,259 |
| Net cash from investing activities | (9,815) | (15,373) | (7,830) | (7,122) | 789 | (8,984) | (3,951) |
| Net cash from financing activities | (4,858) | 5,566 | (2,861) | (2,379) | (9,501) | (2,586) | (4,591) |
| Net change in cash | (275) | (230) | 208 | 257 | (42.00) | (21.48) | (283) |
| Closing cash | 302 | 800 | 770 | 1,071 | 260 | 1,877 | 311 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +14.3% | +4.7% | +12.1% | +20.9% | +17.3% | +6.3% | - |
| EBITDA growth | +25.6% | -2.7% | +22.0% | -6.0% | +1.3% | +24.8% | - |
| PBT growth | +30.3% | -17.4% | +28.3% | -12.4% | +5.0% | +51.3% | +49.5% |
| Net income growth | +24.2% | -13.5% | +39.8% | -28.6% | +29.2% | -1.0% | - |
| Revenue CAGR (3Y) | +10.3% | +12.4% | +16.7% | +14.6% | +8.2% | +13.7% | +19.4% |
| EBITDA CAGR (3Y) | +14.2% | +3.7% | +5.1% | +5.9% | +16.2% | +24.1% | +20.4% |
| Profitability & leverage | |||||||
| Net income margin | +9.0% | +8.6% | +10.1% | +8.1% | +14.0% | +12.4% | +13.4% |
| Return on capital employed | +12.5% | +11.5% | +15.3% | +12.8% | +14.8% | +15.3% | +12.4% |
| Return on net worth | +10.3% | +9.6% | +12.3% | +9.6% | +15.3% | +13.1% | +15.2% |
| Debt / equity | 0.28 | 0.23 | 0.17 | 0.20 | 0.31 | 0.45 | 0.54 |
| Long-term debt / equity | 0.20 | 0.15 | 0.09 | 0.11 | 0.19 | 0.32 | 0.42 |
| Interest cover | 14.45 | 17.30 | 9.10 | 10.06 | 9.42 | 15.05 | 27.50 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.80 | 0.81 | 0.90 | 0.93 | 0.88 | 0.77 | 0.75 |
| Inventory turnover | 9.69 | 8.66 | 9.60 | 10.72 | 11.40 | 11.43 | 10.67 |
| Debtors turnover | 17.79 | 18.26 | 20.37 | 20.59 | 20.29 | 20.89 | 19.35 |
| EPS (₹) | 251.30 | 210.15 | 239.18 | 171.52 | 244.80 | 185.07 | 189.02 |
| Dividend per share (₹) | 240.00 | 77.50 | 70.00 | 38.00 | 38.00 | 37.00 | 13.00 |
| Book value per share (₹) | 2,533.71 | 2,364.50 | 2,047.01 | 1,850.01 | 1,706.82 | 1,501.91 | 1,326.83 |
To see the full year-wise statements and ratios of Ultratech Cement Limited, buy the company report.
Board of directors of Ultratech Cement Limited
Ultratech Cement has 10 current directors and 25 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Krishnakishore Maheshwari | Director | 01 Apr 2016 | 10 Years 6 Months | Current |
| Kailash Chandra Jhanwar Also directs: Aditya Birla Management Corporation Private Limited, The India Cements Limited, Bhagwati Lime Stone Private Limited and 1 more | Managing Director | 01 Jan 2020 | 6 Years 9 Months | Current |
| Rajashree Birla Also directs: Aditya Birla Real Estate Limited, Grasim Industries Ltd, Hindalco Industries Limited and 5 more | Director | 14 May 2004 | 22 Years 5 Months | Current |
| Kumar Mangalam Birla Also directs: Aditya Birla Real Estate Limited, Grasim Industries Ltd, Aditya Birla Fashion and Retail Limited and 5 more | Director | 14 May 2004 | 22 Years 5 Months | Current |
| Venkatadri Chandrasekaran Also directs: Grasim Industries Ltd, Care Ratings Limited, Tata Investment Corporation Limited and 4 more | Director | 13 Aug 2025 | 1 Years 2 Months | Current |
| Anjani Agrawal | Director | 17 Jul 2024 | 2 Years 3 Months | Current |
Showing 6 of 10 current directors. View all directors
Peer comparison
Ultratech Cement Limited is compared with the 3 companies closest to it by revenue in the Manufacturing industry (Cement and Cement Products), with the same principal business activity (other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Ultratech Cement Limitedthis company | ₹88,512 Cr (FY 2026) | ₹8,176.27 Cr | 9.2% | 16.5% | 25,165 | Mumbai, Maharashtra, India |
| Ambuja Cements Limited | ₹37,699 Cr (FY 2025) | 10.0% | Ahmedabad, Gujarat, India | |||
| Acc Limited | ₹22,835 Cr (FY 2025) | 12.0% | Gandhinagar, Gujarat, India | |||
| Shree Cement Limited | ₹19,872 Cr (FY 2025) | -5.0% | Beawar, Rajasthan, India |
To see the full peer comparison of Ultratech Cement Limited, buy the company report.
Auditor
Ultratech Cement Limited is audited by B S R & Co. LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| B S R & Co. LLP | FY 2023 | 101248W / W-100022 |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 59.30%, foreign institutional investors hold 12.40%, domestic institutional investors hold 20.20% and retail and other public shareholders hold 8.10%.
Sep 2026
QUARTER
59.30% Promoters
20.20% DII (Domestic Institutional)
12.40% FII (Foreign Institutional)
8.10% Retail & Others
Promoter holding - history
Now 59.30% · Sep 2026High 59.30% · Mar 2026Low 59.20% · Dec 2025
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 59.30% | 59.30% | 59.30% | 59.20% |
| Public | 40.70% | 40.70% | 40.70% | 40.80% |
Charges & borrowings
Open charges
₹785.74 Cr
Satisfied charges
₹28,928 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 11 Apr 2018 | 100169247 | Others | ₹285.74 Cr | Open | |
| 23 Sep 2016 | 100054602 | Others | ₹500 Cr | Open | |
| 04 Mar 2025 | 101069081 | Others | ₹150 Cr | Satisfied | |
| 03 Feb 2020 | 100325535 | Hdfc Bank Limited | ₹150 Cr | Satisfied | |
| 03 Feb 2020 | 100325537 | Hdfc Bank Limited | ₹118.8 Cr | Satisfied |
To see the full charge records of Ultratech Cement Limited, buy the company report.
Total charge records: 119 View all charges
Deals & funding
Ultratech Cement Limited has 53 deals on record (49 market trades, 1 funding round, 1 acquisition), with disclosed funding of ₹325 Cr; the latest was in August 2026.
Total deals
53
Market trades
49
Funding round
1
Acquisition
1
Secondary share transfer
1
Disclosed funding
₹325 Cr
Deals on record (5 of 53)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2026 | Market trade | ₹2,896.25 Cr | Seller: Pilani Investment And Industries Corporation Limited |
| Sep 2018 | Market trade | ₹48.28 Cr | Buyer: Pilani Investment And Industries Corporation Limited Seller: Manav Investment and Trading Company Ltd |
| Mar 2016 | Market trade | ₹25.88 Cr | Buyer: Camden Industries Limited Seller: Kesoram Industries Ltd |
| Jun 2009 | Market trade | ₹1,037.22 Cr | Buyer: Life Insurance Corporation Of India Ltd, The Master Trust Bank Of Japan Ltd A/C Nomura Ind Invst Fund, Reliance Capital Trustee Co Ltd Reliance Natres Fund Seller: Larsen and Toubro Limited |
| Jul 2004 | Acquisition | ₹2,180.05 Cr | Buyer: Grasim Industries Ltd Seller: Larsen and Toubro Limited |
To see the full deal history of Ultratech Cement Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Ultratech Cement Limited has 4,633 court cases on record: 3,450 filed by Ultratech Cement, 1,189 filed against it. 1,499 cases are pending and 3,134 are disposed.
Total cases
4,633
Filed by the company
3,450
Filed against the company
1,189
Pending
1,499
Disposed
3,134
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 2,384 | 603 | 975 |
| High courts | 2,037 | 494 | 432 |
| Supreme Court | 166 | 72 | 72 |
| NCLAT | 25 | 18 | 19 |
| NCLT | 21 | 2 | 1 |
Cases on record (5 of 4,633)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (2902-Labour and Industrial Laws : Payment of wages, bonus, provident fund, gratuity, service benefits, benefits under ESIC Act, 1948, compensation under Workmen's Compensation Act, 1923 (now Employees Compensation Act, 1923)and payment of overtime wages and minimum wage.) | Filed by the company against The State of Madhya Pradesh and 1 other | Pending |
| Supreme Court | Court case (3002-Land Acquisition and Requisition : Compensation for land acquisition) | Filed against the company by an individual | Pending |
| District court, Jabalpur, Madhya Pradesh | Court case (MJC AV) | Filed against the company by M/S Goel Cargo Private Limited | Pending |
| Supreme Court | Court case | Filed against the company by Mintech Global Pvt. Ltd. | Pending |
| District court, Central, Delhi | Civil suit | Filed by the company against JKH Buildcon Pvt Ltd | Pending |
To see the full case history of Ultratech Cement Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Ultratech Cement Limited was last rated by Crisil on 28 Dec 2020.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 28 Dec 2020 |
To see the full credit ratings and regulatory alerts of Ultratech Cement Limited, buy the company report.
MSME payment delays
Ultratech Cement Limited has 13 MSME Form 1 returns on record between 2019 and 2024, listing 1,579 overdue payments to 580 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 580)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Manjeet Logistics Private Limited | |||
| Akxa Tech Private Limited | |||
| Millennium Logitrans India Private Limited | |||
| Cholamandalam Ms Risk Services Limited | |||
| TDW Technologies Private Limited |
To see the full MSME payment records of Ultratech Cement Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Ultratech Cement has 4 subsidiary companies, 1 joint venture, and 6 associated companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
4
Subsidiary companies
1
Joint ventures
6
Associated companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Bhagwati Lime Stone Private Limited | U14101RJ1993PTC007788 | |
| Gotan Lime Stone Khanij Udyog Private Limited | U14200RJ2012PTC038369 | |
| Harish Cement Limited | U26941HP1996PLC019173 | |
| Ultratech Nathdwara Cement Limited | U26941WB1996PLC076612 |
To see the full group structure of Ultratech Cement Limited, buy the company report.
Employees & EPFO
Ultratech Cement Limited has a workforce of 25,165 employees on its EPFO records as of Apr 02, 2024, across 26 active EPFO establishments.
Employee count
25,165
Active EPFO establishments
26
Employee growth
4.21%
GST
Ultratech Cement has 48 GST registrations: 31 active and 17 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
48
Active
31
Cancelled / inactive
17
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACL6442L1ZA | Maharashtra | Active | 01 Jul 2017 |
| 27AAACL6442L2Z9 | Maharashtra | Active | 02 Jul 2017 |
| 27AAACL6442L3Z8 | Maharashtra | Active | 03 Aug 2023 |
| 02AAACL6442L2ZL | Himachal Pradesh | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Ultratech Cement Limited, buy the company report.
Recent activity
Ultratech Cement Limited has 58 board changes on record since 2000: 35 appointments and 23 cessations. The latest: Vikram Bhalla was appointed as Additional Director on 08 Jun 2026.
Appointed
Vikram Bhalla was appointed as Additional Director.
Filing
Ultratech Cement Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Mumbai I.
AGM
Ultratech Cement Limited last Annual general meeting of members was held on 19 Aug 2025 as per latest MCA records.
Ceased
Sunil Duggal ceased to be Director.
Appointed
Venkatadri Chandrasekaran was appointed as Director.
Charges
A charge registered on 04 Mar 2025 via Charge ID 101069081 with Others was fully satisfied on 21 Apr 2025.
Charges
A charge with Others amounted to Rs. 150.00 Cr with Charge ID 101069081 was registered on 04 Mar 2025.
Charges
A charge registered on 31 Jan 2019 via Charge ID 100235736 with Hdfc Bank Limited was fully satisfied on 05 Nov 2024.
Ceased
Sukanya Kripalu ceased to be Director.
Appointed
Vikas Balia was appointed as Director.
Appointed
Anita Ramachandran was appointed as Director.
Appointed
Anjani Agrawal was appointed as Director.
329 earlier events are in the company report.
News
UltraTech Cement: Kotak Institutional Equities on UltraTech Cement Maintains Sell, Target Price ₹8,900; Q2FY27 EBITDA was broadly in line, with volume growth of 13% YoY above industry growth, but higher energy prices cloud the outlook; cuts FY27 EBITDA estimates by 6% and FY28–29 estimates by 3%, while capacity expansion of 35mtpa over 2–3 years supports long-term growth.
UltraTech Cement: HSBC on UltraTech Cement Maintains Buy, Target Price ₹14,200; Q2 volume growth reached 13.8% YoY, but fuel costs rose 12% QoQ and pressured profits; cement price hikes in September and October, with further increases expected, could offset costs, while the stock's forward EV/EBITDA has fallen below its five-year average of 19.8x.
UltraTech Cement: JPMorgan on UltraTech Cement Maintains Overweight, Target Price ₹12,900; Q2FY27 EBITDA was in line, with volumes up 13% YoY, but EBITDA per tonne missed estimates due to higher costs; management expects further price increases as demand recovers after the monsoon and festive season, though cost pressures are likely to remain elevated.
Ultratech Cement: Raises Revenue Target For Ultravolt Wires And Cables Business From INR 10,000 Crores To INR 16,000-18,000 Crores Thanks To Copper Price Changes, With Fiscal '28 Anticipated To Be A Strong Performance Year.
Ultratech Cement: Company Aims for 240 Million Tonnes Cement Capacity with Further Growth, Expects Net Debt/EBITDA Under 1X by March End, Confident About INR1,400 EBITDA per Tonne with Anticipated Price Hikes to Manage Costs.
ULTRACEMCO: Q2 CONS NET PROFIT 14.9B RUPEES VS 12.3B (YOY); EST 15.53B
From our blog
Frequently asked questions
Ultratech Cement is an active public limited company based in Mumbai, Maharashtra, India. The company works in cement and cement products, within the manufacturing industry. It was incorporated on 24 August 2000 (26+ years old) and is registered under CIN L26940MH2000PLC128420. Listed on BSE: 532538 and NSE: ULTRACEMCO.
Ultratech Cement reported revenue of ₹88,512 Cr for FY 2025-26 (up 16.5% YoY) based on consolidated financials.
Ultratech Cement has 10 current directors:
- Kailash Chandra Jhanwar - Managing Director
- Vivek Agrawal - Whole-Time Director
- Krishnakishore Maheshwari - Director
- Rajashree Birla - Director
- Kumar Mangalam Birla - Director
- Venkatadri Chandrasekaran - Director
- Anjani Agrawal - Director
- Vikas Balia - Director
- Anita Ramachandran - Director
- Vikram Bhalla - Additional Director
The latest financial statements of Ultratech Cement on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 19 August 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Ultratech Cement is 27AAACL6442L1ZA, registered in Maharashtra. The company has 48 GST registrations in all, of which 31 are active and 17 are cancelled or inactive. Other active GSTINs include 27AAACL6442L2Z9 (Maharashtra), 27AAACL6442L3Z8 (Maharashtra), 02AAACL6442L2ZL (Himachal Pradesh).
The CIN (Corporate Identification Number) of Ultratech Cement is L26940MH2000PLC128420. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Ultratech Cement is a listed company as per MCA records. Its shares are listed on both BSE (code: 532538) and NSE (symbol: ULTRACEMCO).
Ultratech Cement has 4,633 court cases on record: 3,450 filed by the company and 1,189 filed against it. 1,499 are pending. Most are in the district courts.
Ultratech Cement was incorporated on 24 August 2000, making it 26+ years old. It is registered with the Registrar of Companies, Mumbai.
Ultratech Cement has 53 deals on record (49 market trades, 1 funding round, 1 acquisition), with disclosed funding of ₹325 Cr; the latest was in August 2026.
The peers of Ultratech Cement by revenue are Ambuja Cements Limited, Acc Limited, Shree Cement Limited, all in the Manufacturing industry (Cement and Cement Products), with the same principal business activity (other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities).
Vikram Bhalla was appointed as Additional Director on 08 Jun 2026. Sunil Duggal ceased to be Director on 14 Aug 2025. Venkatadri Chandrasekaran was appointed as Director on 13 Aug 2025. Ultratech Cement has 58 board changes on record in total.