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UltraTech Cement Ltd
NSE:ULTRACEMCO

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UltraTech Cement Ltd
NSE:ULTRACEMCO
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Price: 12 028 INR -1.14% Market Closed
Market Cap: ₹3.5T

EV/EBIT

32.4
Current
2%
Cheaper
vs 3-y average of 33.1

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
32.4
=
Enterprise Value
₹3.9T
/
EBIT
₹112.4B

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
32.4
=
Enterprise Value
₹3.9T
/
EBIT
₹112.4B

Valuation Scenarios

UltraTech Cement Ltd is trading below its 3-year average

If EV/EBIT returns to its 3-Year Average (33.1), the stock would be worth ₹12 310.74 (2% upside from current price).

Statistics
Positive Scenarios
1/4
Maximum Downside
-52%
Maximum Upside
+2%
Average Downside
22%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 32.4 ₹12 028
0%
3-Year Average 33.1 ₹12 310.74
+2%
5-Year Average 29.3 ₹10 886.04
-9%
Industry Average 15.7 ₹5 832
-52%
Country Average 23.3 ₹8 641.8
-28%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
₹3.9T
/
Jan 2026
₹112.4B
=
32.4
Current
₹3.9T
/
Mar 2026
₹126.6B
=
31.1
Forward
₹3.9T
/
Mar 2027
₹162.6B
=
24.2
Forward
₹3.9T
/
Mar 2028
₹183.2B
=
21.5
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
IN
UltraTech Cement Ltd
NSE:ULTRACEMCO
3.6T INR 32.4 48.6
IE
CRH PLC
NYSE:CRH
78.9B USD 17.2 21
CH
Holcim AG
SIX:HOLN
39.8B CHF 19.2 3.1
DE
HeidelbergCement AG
XETRA:HEI
32.8B EUR 12 16.9
US
Vulcan Materials Co
NYSE:VMC
38.1B USD 26.7 35.4
US
Martin Marietta Materials Inc
NYSE:MLM
37.1B USD 28.7 32.6
US
Amrize AG
SIX:AMRZ
24.4B CHF 17.9 25.9
DE
Heidelberg Materials AG
XMUN:HEI
21.7B EUR 8.4 11.2
IN
Grasim Industries Ltd
NSE:GRASIM
1.9T INR 11.3 44.3
CN
China Jushi Co Ltd
SSE:600176
133B CNY 31.5 40.5
MX
Cemex SAB de CV
NYSE:CX
18.2B USD 12 18.9

Market Distribution

In line with most companies in India
Percentile
67th
Based on 2 572 companies
67th percentile
32.4
Low
0.4 — 15.7
Typical Range
15.7 — 34.7
High
34.7 —
Distribution Statistics
India
Min 0.4
30th Percentile 15.7
Median 23.3
70th Percentile 34.7
Max 48 145.1

UltraTech Cement Ltd
Glance View

In the world of construction materials, UltraTech Cement Ltd. stands as a colossus, casting a long, influential shadow across India's infrastructure landscape. Born out of the visionary ambitions of the Aditya Birla Group, UltraTech embarked on its journey to revolutionize the cement industry with an unyielding commitment to quality and sustainability. Headquartered in Mumbai, this giant has meticulously orchestrated its operations to stretch across not only India but also overseas markets in the Middle East, Sri Lanka, and beyond. With an eye keenly on scalability and efficiency, UltraTech operates an extensive network of plants, spanning 23 integrated units, 27 grinding units, and 7 bulk terminals, which facilitate a staggering annual production capacity of over 120 million tonnes. This robust infrastructure underpins the company's meticulous approach to producing a wide array of products including Ordinary Portland Cement, Portland Pozzolana Cement, and specialty concretes, catering to a diverse range of construction needs. UltraTech thrives on its intricate business model that weaves through manufacturing, distribution, and retail. Cement production begins with the procurement of limestone, a key raw material, which is then subjected to complex chemical processes involving heating at high temperatures in kilns. The result is clinker, which is mixed with additives and ground into the fine powder recognized as cement. The company not only capitalizes on its vast production capabilities but also invests heavily in logistical infrastructure, ensuring timely delivery through a vast network of dealerships, which exceed 80,000 outlets. By maintaining rigorous quality checks and leveraging cutting-edge technology, UltraTech Cement ensures a consistent product that meets varied construction standards. Strategic marketing and branding efforts fortify its position in the minds of consumers, while its focus on sustainability initiatives, such as waste heat recovery and carbon reduction, enhances its corporate ethos, turning both economic and environmental considerations into avenues for profitability.

ULTRACEMCO Intrinsic Value
7 872.94 INR
Overvaluation 35%
Intrinsic Value
Price ₹12 028
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