UltraTech Cement - Public Comps and Valuation Multiples

UltraTech Cement Overview

About UltraTech 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.

Founded

2000

HQ

Employees

28.1K+

Website

ultratechcement.com

Sectors

Building Materials
ConstructionTech

Financials

LTM Revenue $9.2B

LTM EBITDA $1.7B

EV

$43.2B

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UltraTech Cement Financials

As of September 2025, UltraTech Cement reported last 12-month revenue of $9.2B and EBITDA of $1.7B.

In the same period, UltraTech Cement generated $7.5B in LTM gross profit and $876M in net income.

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UltraTech Cement P&L

In the most recent fiscal year, UltraTech Cement reported revenue of $8.5B and EBITDA of $1.5B.

UltraTech Cement expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$9.2B	XXX	$8.5B	XXX	XXX	XXX
Gross Profit	$7.5B	XXX	$6.5B	XXX	XXX	XXX
Gross Margin	81%	XXX	77%	XXX	XXX	XXX
EBITDA	$1.7B	XXX	$1.5B	XXX	XXX	XXX
EBITDA Margin	19%	XXX	18%	XXX	XXX	XXX
EBIT	$1.3B	XXX	$950M	XXX	XXX	XXX
EBIT Margin	14%	XXX	11%	XXX	XXX	XXX
Net Profit	$876M	XXX	$681M	XXX	XXX	XXX
Net Margin	9%	XXX	8%	XXX	XXX	XXX
Net Debt	XXX	XXX	$2.5B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for UltraTech Cement including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $9.2B. EBITDA for the last twelve months was $1.7B. In the most recent fiscal year, UltraTech Cement achieved $8.5B in revenue and $1.5B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$9.2B	Analyst estimates available to subscribers	$8.5B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$7.5B	Analyst estimates available to subscribers	$6.5B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	81.5% gross margin	Analyst estimates available to subscribers	76.6% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$1.7B	Analyst estimates available to subscribers	$1.5B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	18.9% EBITDA margin	Analyst estimates available to subscribers	17.6% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$1.3B	Analyst estimates available to subscribers	$950M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	13.8% EBIT margin	Analyst estimates available to subscribers	11.2% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$876M	Analyst estimates available to subscribers	$681M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	9.5% net profit margin	Analyst estimates available to subscribers	8.1% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$2.5B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for UltraTech Cement

This financial data table provides comprehensive performance metrics for UltraTech Cement, a company based in India. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

UltraTech Cement generated $9.2B in revenue over the last twelve months.
The company achieved $1.7B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $7.5B.
Net income over the last twelve months reached $876M.

Fiscal Year Performance

In the most recent fiscal year, UltraTech Cement reported $8.5B in total revenue.
Fiscal year EBITDA was $1.5B.
The company maintained a gross profit margin of 76.6% in the most recent fiscal year.
EBITDA margin for the fiscal year was 17.6%.
Net profit margin reached 8.1% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for UltraTech Cement. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

UltraTech Cement Stock Performance

UltraTech Cement has current market cap of INR 3.63T (or $41.0B), and EV of INR 3.83T (or $43.2B).

Market Cap Evolution

UltraTech Cement Stock Data

As of October 17, 2025, UltraTech Cement's stock price is INR 12356 (or $139).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$43.2B	$41.0B	XXX	XXX	XXX	XXX	$3.00

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UltraTech Cement Valuation Multiples

UltraTech Cement's trades at 5.2x EV/Revenue multiple, and 28.9x EV/EBITDA.

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UltraTech Cement Financial Valuation Multiples

As of October 17, 2025, UltraTech Cement has market cap of $41.0B and EV of $43.2B.

Equity research analysts estimate UltraTech Cement's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

UltraTech Cement has a P/E ratio of 46.8x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$41.0B	XXX	$41.0B	XXX	XXX	XXX
EV (current)	$43.2B	XXX	$43.2B	XXX	XXX	XXX
EV/Revenue	4.7x	XXX	5.2x	XXX	XXX	XXX
EV/EBITDA	24.8x	XXX	28.9x	XXX	XXX	XXX
EV/EBIT	33.9x	XXX	43.8x	XXX	XXX	XXX
EV/Gross Profit	5.7x	XXX	n/a	XXX	XXX	XXX
P/E	46.8x	XXX	57.9x	XXX	XXX	XXX
EV/FCF	115.9x	XXX	234.8x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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UltraTech Cement Margins & Growth Rates

UltraTech Cement's last 12 month revenue growth is 14%

UltraTech Cement's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.2M for the same period.

UltraTech Cement's rule of 40 is 32% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

UltraTech Cement's rule of X is 54% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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UltraTech Cement Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	14%	XXX	14%	XXX	XXX	XXX
EBITDA Margin	19%	XXX	18%	XXX	XXX	XXX
EBITDA Growth	29%	XXX	25%	XXX	XXX	XXX
Rule of 40	32%	XXX	32%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	54%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	25%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	65%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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