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UltraTech Cement Limited
Sector: Building Materials, Cement | HQ: Mumbai, Maharashtra | Founded: 1983 | Employees: ~22,000
Listed as: NSE / BSE listed; India's largest cement manufacturer by capacity | NSE / BSE | Ticker: ULTRACEMCO.NS | Website →
Live stock price (NSE)
₹11,866
-84.00 (-0.70%) today
Source: Yahoo Finance · Refreshed every 15 minutes · Fetched 11/5/2026, 4:34:38 pm IST. For information only; not investment advice.
Key people
- Kumar Mangalam Birla (Chairman)
- K. C. Jhanwar (Managing Director)
Company overview
UltraTech Cement Limited is India's largest cement manufacturer by capacity, with installed grey cement capacity of approximately 152.7 MTPA across India and overseas operations. The company is part of the Aditya Birla Group, led by Chairman Kumar Mangalam Birla. UltraTech operates 22 integrated manufacturing units, 27 grinding units, 8 bulk packaging terminals, and 7 white cement and putty plants across India, the UAE, Bahrain, Bangladesh, and Sri Lanka. The recent acquisitions of India Cements (Tamil Nadu) and the Kesoram Industries cement business in 2024-25 have consolidated UltraTech's position as the dominant cement producer in southern India and lifted total capacity by approximately 30 MTPA.
Business model
UltraTech's business is geographically diversified across India's cement-consuming regions, with a particular strength in the western, central, and northern markets and now expanded southern presence post the India Cements acquisition. The company sells ordinary Portland cement, Portland slag cement, Portland pozzolana cement, and the premium white cement and putty under the Birla White brand. UltraTech operates one of India's largest captive thermal and renewable power capacity (over 1 GW installed) supporting its cement plants. The Group's diversified construction-materials portfolio also includes Birla Aerocon AAC blocks and other building materials.
Operating segments
Grey Cement (Domestic)
152.7 MTPA installed in India. OPC, PSC, PPC product mix. Distribution across 56,000+ dealers.
White Cement and Putty (Birla White)
India's leading white cement brand. Wall putty and tile adhesive value-added products.
International (UAE, Bahrain, Bangladesh, Sri Lanka)
Smaller operations supporting overseas market entry.
Ready Mix Concrete (RMC)
~100 RMC plants across major Indian cities.
Financial performance and recent trajectory
UltraTech reported FY25 consolidated revenue of approximately ₹74,500 crore with EBITDA of ₹14,800 crore. EBITDA margin expanded to approximately 20 percent in FY25 from 17 percent in FY24 as cement realisations recovered and energy costs moderated. Cement is a hyper-regional business with realisations varying sharply by zone; UltraTech's national footprint provides geographic diversification benefit. Capital expenditure run-rate is approximately ₹9,000 to ₹11,000 crore per year supporting the capacity expansion to 200+ MTPA target by FY27. Consolidated net debt is approximately ₹14,000 crore post the India Cements acquisition.
Stock performance and shareholder context
UltraTech Cement (NSE: ULTRACEMCO, BSE: 532538) is a Nifty 50 and Sensex constituent. Aditya Birla Group holds approximately 60 percent of the company. The stock trades on a premium P/E reflecting the market leadership and capacity expansion track.
12-month price trajectory
Monthly closes over the last 12 months. Source: Yahoo Finance.
Competitive position
UltraTech is the dominant cement producer in India, ahead of Adani Cement (formed by the acquisition of Ambuja Cements and ACC), Dalmia Bharat, Shree Cement, JK Cement, Ramco Cements, and the regional independents. The scale advantage in distribution, fuel sourcing, and capacity utilisation is the structural moat. The India Cements acquisition consolidates the southern Indian market and addresses the prior gap versus Dalmia Bharat in that region.
Key risks
Cement is hyper-cyclical with infrastructure capex; thermal coal pricing volatility; pet coke pricing; regional pricing wars (particularly East and South India); regulatory changes on royalty and limestone leases.
Outlook
Strong outlook through FY30 on the capacity expansion to 200+ MTPA target and the consolidation benefits from India Cements and Kesoram acquisitions. UltraTech is the price-leader in most Indian cement zones and the principal benchmark for new entrants in the cement manufacturing space.
KAMRIT point of view
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Disclaimer: This profile is compiled by KAMRIT Financial Services LLP for educational and benchmarking purposes only. It is not investment advice, a recommendation to buy or sell securities, or a solicitation. Stock data is provided by Yahoo Finance and may be delayed by up to 20 minutes. Company financial commentary draws on publicly available filings, exchange disclosures, and KAMRIT industry research. Readers should consult a SEBI-registered investment adviser before making investment decisions. KAMRIT is a financial services and compliance firm, not a SEBI-registered investment adviser.