AI Summary
✦ ClarthaUltraTech Cement is an Indian building-materials manufacturer, marketer, and distributor. Grey cement remains central, complemented by white cement, wall-care putty, value-added products, and ready-mix concrete. Tile adhesives, waterproofing solutions, grouts, and repair products extend its building-solutions offering. Revenue grew 16.6% year-on-year, while profit increased 35.2%. However, declining margins suggest earnings growth currently outpaces operating improvement. The ₹5,000 crore non-convertible debenture issue increases funding capacity but also raises financing exposure. ROE is unavailable, while debt-to-equity of 29.43 indicates substantial leverage that can amplify reported returns and increase balance-sheet sensitivity. Profit growth exceeds revenue growth, but margin compression remains the key earnings-quality concern. At 41.7 times earnings, the shares appear rich relative to the company’s 16.6% revenue growth and face leverage-related risk. Neutral sentiment reflects an open question around whether future volume growth can offset margin pressure and additional funding costs.
Price Forecast
Probabilistic Range
Probabilistic lognormal cone using 1Y realized volatility and analyst-target drift when available.
Revenue Forecast
₹ CrEPS Forecast
₹ / shareMulti-factor synthesis of 5 key dimensions
From 38 analysts
Fundamentals
Fundamentals institutional score is 56 using growth durability 55.5.
Valuation
Valuation institutional score is 48 using relative multiple z-scores where peer dispersion is available.
Analyst Consensus
Analyst View institutional score is 66 using mean target upside 15.6%; dispersion penalty 19.0; recommendation breadth from available consensus.
Technical Structure
Technicals institutional score is 77 using EMA-20 continuation within 5% tolerance; VCP range/volume contraction proxy.
Market Sentiment
Recent news flow is balanced or not decisive enough to tilt the tape. Based on 1 recent ticker-linked news items.
Signal Summary
Market intelligence remains Neutral. analyst consensus and technical structure provide support, while valuation and market sentiment remain considerations.
Composite weights: Fundamentals 25%, Valuation 20%, Analyst Consensus 20%, Technical Structure 20%, Market Sentiment 15%.
Key Data Points
Important Note: This is market intelligence, not investment advice. Always conduct your own research and consider your financial goals and risk tolerance.
Valuation Metrics
Trading 9.0% above historical median. Valuation is stable — currently in the strongly overvalued zone (z-score: +1.12). Confidence: 89%.
Live forward EPS implies next-12-month EPS of ₹432.13. Applying the stock's normalized valuation corridor produces a fair range of ₹14,541.17 to ₹17,267.91, with base value near ₹16,520.33 (+37.2% vs current price).
Live forward estimate anchored to the company's historical valuation corridor.
Forward EPS
₹432.13
Forward P/E
27.9x
Base Fair Value
₹16,520.33
Fair Range
₹14,541.17 - ₹17,267.91
Upside To Base
+37.2%
Estimate Source
Live forward EPS
Growth Estimate
+16.8%
5Y Average
31.91
Current
41.67
Overvalued
39.96
Undervalued
33.65
5Y Average
16.36
Current
21.24
Overvalued
19.95
Undervalued
12.55
5Y Average
4.74
Current
4.92
Overvalued
5.45
Undervalued
4.03
Peers & Comparison
Sector: Materials · Theme: Cement
| Company | Rev. Growth | Margin | P/E | vs Avg | 52W Perf. |
|---|---|---|---|---|---|
SHREE CEMENT LIMITED SHREECEMCement | +5.2% | 14.5% | 57.7x Premium | +46% vs avg | -15.1% |
GRASIM INDUSTRIES LTD GRASIMCement | +10.5% | 2.8% | 46.2x Premium | +17% vs avg | +20.4% |
HINDALCO INDUSTRIES LTD HINDALCOMetals - Aluminium | +32.1% | 5.5% | 14.3x Undervalued | -64% vs avg | +57.5% |
ULTRATECH CEMENT LIMITED trades in line with peers (41.4x vs avg 39.4x), reflecting a fair valuation within the Cement cohort. Peers include SHREE CEMENT LIMITED, GRASIM INDUSTRIES LTD, HINDALCO INDUSTRIES LTD — selected based on business model, industry classification, market cap similarity, and business theme alignment.
Financials
Real statement data for revenue, earnings quality, conversion, and balance-sheet coverage. Monetary values are shown in Rs crore.
Latest revenue
₹24.58K CrMar 2026Latest net profit
₹2.62K CrMar 2026Latest EPS
₹88.35Mar 2026Net margin
15.9%Mar 2026Performance
Bars show revenue and net profit. The line shows net margin.
- Revenue
- Net income
- Net margin %
Earnings
Revenue is shown in crores. EPS is rupees per share.
- Revenue
- EPS
Revenue to profit conversion
Bridge from operating numbers to profit for the latest reported period.
Latest reported period: Mar 2026
Debt level and coverage
Debt, cash and free cash flow compared on the same crore scale.
- Debt
- Free cash flow
- Cash & equivalents
Results
| Metric | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 18,112 | 17,225 | 15,476 | 16,134 | 19,806 | 18,281 | 15,565 | 16,914 | 21,135 | 19,635 | 17,864 | 20,088 | 24,582 |
| Expenses | 14,881 | 14,225 | 13,025 | 12,985 | 15,786 | 15,323 | 13,623 | 14,128 | 16,525 | 15,433 | 15,094 | 16,579 | 19,624 |
| Operating Profit | 2,498 | 2,280 | 1,683 | 2,395 | 3,234 | 2,069 | 1,016 | 1,853 | 3,619 | 3,227 | 1,768 | 2,485 | 3,904 |
| OPM % | 13.79% | 13.24% | 10.87% | 14.84% | 16.33% | 11.32% | 6.53% | 10.96% | 17.12% | 16.43% | 9.9% | 12.37% | 15.88% |
| Other Income | 151 | 209 | 158 | 140 | 154 | 182 | 187 | 209 | 115 | 154 | 72.64 | 81.62 | 67.79 |
| Interest | 175 | 192 | 211 | 237 | 227 | 291 | 358 | 417 | 400 | 370 | 396 | 433 | 431 |
| Depreciation | 733 | 720 | 768 | 754 | 786 | 890 | 926 | 933 | 991 | 975 | 1,002 | 1,024 | 1,054 |
| Profit before tax | 2,475 | 2,297 | 1,631 | 2,298 | 3,162 | 1,960 | 845 | 1,646 | 3,335 | 3,011 | 1,445 | 2,133 | 3,541 |
| Tax % | 33.01% | 25.38% | 25.14% | 25.25% | 26.5% | 18.65% | 19.53% | 19.53% | 19.56% | 25.88% | 26.37% | 25.39% | 25.97% |
| Net Profit | 1,658 | 1,714 | 1,221 | 1,718 | 2,324 | 1,595 | 680 | 1,324 | 2,682 | 2,232 | 1,064 | 1,592 | 2,622 |
| EPS in Rs | 57.50 | 59.47 | 42.35 | 59.60 | 78.14 | 51.21 | 27.65 | 45.03 | 91.18 | 75.87 | 36.17 | 51.37 | 88.35 |
All values in Rs. Crore unless otherwise stated. Source: CMIE Prowess, Quarterly Interim Standalone.