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ULTRACEMCO - Fundamental Analysis: Financial Health & Valuation

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Rating: 3.7

Last Updated Time : 19 Mar 26, 07:11 pm

Fundamental Rating: 3.7

Stock Code ULTRACEMCO Market Cap 3,31,475 Cr. Current Price 11,247 ₹ High / Low 13,110 ₹
Stock P/E 43.9 Book Value 2,401 ₹ Dividend Yield 0.69 % ROCE 11.7 %
ROE 9.69 % Face Value 10.0 ₹ DMA 50 12,126 ₹ DMA 200 12,014 ₹
Chg in FII Hold -0.89 % Chg in DII Hold 0.80 % PAT Qtr 1,570 Cr. PAT Prev Qtr 1,064 Cr.
RSI 37.6 MACD -425 Volume 2,23,734 Avg Vol 1Wk 5,35,365
Low price 10,573 ₹ High price 13,110 ₹ PEG Ratio -13.2 Debt to equity 0.30
52w Index 26.6 % Qtr Profit Var 18.6 % EPS 254 ₹ Industry PE 28.2

📊 Financials

  • Revenue Growth: Moderate, PAT improved to 1,570 Cr from 1,064 Cr
  • Profit Margins: EPS at 254 ₹, showing profitability but under pressure
  • Debt Ratios: Debt-to-equity at 0.30, manageable leverage
  • Cash Flows: Supported by consistent operations, though margins remain tight
  • Return Metrics: ROCE 11.7% and ROE 9.69% indicate modest efficiency

💹 Valuation

  • P/E Ratio: 43.9, higher than industry average (28.2), suggesting overvaluation
  • P/B Ratio: ~4.7 (Current Price / Book Value), moderately expensive
  • PEG Ratio: -13.2, reflecting weak growth prospects
  • Intrinsic Value: Slightly overvalued compared to peers

🏢 Business Model & Health

  • Business Model: Cement manufacturing, strong presence in infrastructure and housing sectors
  • Competitive Advantage: Market leader with scale, brand strength, and distribution network
  • Overall Health: Financially stable but efficiency metrics are modest; valuations stretched

🎯 Entry Zone Recommendation

  • Entry Zone: Attractive near 11,000–11,300 ₹ levels (close to support)
  • Long-Term Holding: Suitable for conservative investors; dividend yield (0.69%) adds minor stability


✅ Positive

  • Quarterly PAT improved (1,570 Cr vs 1,064 Cr)
  • EPS of 254 ₹ reflects profitability
  • DII holdings increased (+0.80%), showing domestic institutional support

⚠️ Limitation

  • ROCE (11.7%) and ROE (9.69%) remain modest
  • P/E ratio significantly higher than industry average
  • PEG ratio negative, reflecting poor growth outlook

📉 Company Negative News

  • FII holdings decreased (-0.89%), showing reduced foreign investor confidence
  • Technical indicators (RSI 37.6, MACD -425) suggest weak momentum

📈 Company Positive News

  • DII holdings increased (+0.80%), showing strong domestic support
  • Quarterly PAT improved significantly compared to previous quarter

🏭 Industry

  • Cement industry P/E: 28.2, lower than ULTRACEMCO’s valuation
  • Sector demand driven by infrastructure expansion and housing growth

🔎 Conclusion

  • ULTRACEMCO is financially stable with strong market leadership but modest efficiency metrics
  • Valuation is expensive compared to industry peers, with limited growth visibility
  • Entry near 11,000–11,300 ₹ may offer value; suitable for long-term investors focused on infrastructure growth

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