May 2026
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Largest Building Materials Public Companies in India
Benchmark revenue and EBITDA valuation multiples for public comps like
UltraTech Cement, Grasim Industries, Ambuja Cements, Shree Cement and JSW Cement.
 | UltraTech Cement Ltd produces and sells cement and cement-related products. The company generates the vast majority of its revenue in India. The company's product portfolio includes Ordinary Portland cement, Portland blast-furnace slag cement, and Portland Pozzolana cement. Ordinary Portland cement is used for a wide range of applications including concrete products, masonry, and plastering. The firm's customers are in the building and construction industries. Geographically, it operates in India as well as in other countries, of which India derives key revenue. | $117 | -11% | $34B | $36B | 3.9x | 19.8x | ||
| Grasim Industries Ltd is a cement and viscose staple fibre (VSF) manufacturing firm based in India. The activities of the group fall under the operating segments of Cellulosic Fibres, Chemicals, Building materials, Financial Services, and Others. It derives key revenue from the Building materials segment which covers products like grey cement, paints, white cement, and allied products. Geographically, the company derives a majority of its revenue from the domestic market and the rest from other countries through exports. | $32 | +5% | $22B | $42B | 2.3x | 15.6x | ||
| Ambuja Cements Ltd manufactures and sells cement, concrete, and cement-related products to the building and construction industries. The company's portfolio of products includes Portland Pozolona cement and ordinary Portland cement. The vast majority of the firm's revenue is generated in India. Ambuja Cements has operations throughout India and uses a network of ports, bulk cement terminals, captive ships, and railroads to transport its products to both warehouses and directly to customers. The company also has a technical services team that partners with customers to teach concrete mixing and curing techniques. | $5 | -26% | $11B | $11B | 2.7x | 15.4x | ||
| Shree Cement Ltd manufactures and sells cement and cement-related products to the building and construction industries. It derives revenue from cement, clinker, and power sales, of which cement products contribute majorly to the revenue. The cement products are offered under the brands Shree Jung Rodhak and Bangur. Geographically, the company's majority of the revenue is generated within India. | $261 | -21% | $9B | $9B | 4.0x | 15.7x | ||
| JSW Cement Ltd is a cement company based in India. Its products include: Cement, additives, plaster, aggregates, ready-mix concrete, cementitious materials. | $1 | -- | $2B | $2B | 3.3x | 17.1x | ||
| Greenpanel Industries Ltd is a manufacturer of wood panels. It offers products such as Medium Density Fibre Boards, Plywood, Block Boards, Veneers, Wood Floors, and Doors. The operating segment of the company includes Plywood and allied products, and Medium density fibreboards and allied products. The company generates maximum revenue from the medium-density fibreboards and allied products segment. Geographically, it derives a majority of its revenue from India. The company’s manufacturing facilities are located in Rudrapur, Udham Singh Nagar district (Uttarakhand) and Srikalahasti, Tirupati district (Andhra Pradesh). | $2 | -- | $243M | $253M | 1.6x | 27.1x | ||
| Median | $19 | -16% | $10B | $10B | 3.0x | 16.4x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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