Construction Materials · NSE: ULTRACEMCO
Intrynsic's multi-model valuation estimates UltraTech Cement Limited's fair value at ₹5,753 per share (range ₹4,794–₹6,803) against a market price of ₹10,829 - a gap of -46.9% (updated 29 September 2026). This is an estimated fair value based on stated assumptions, not investment advice.
Market price
₹10,829
close of 29 Sept 2026
Est. fair value
₹5,753
₹4,794–₹6,803
Gap
-46.9%
price vs estimate
Trading ~47% above our estimated fair-value range. Assumptions and per-model workings are below.
UltraTech Cement is India's largest cement maker, part of the Aditya Birla group, with plants across the country. Its results follow construction demand, cement prices and energy costs.
Construction Materials · Other Construction Materials
Over the last 3 years, revenue grew 11.9%/yr and profit grew 17.3%/yr.
Every ₹100 of shareholder money earned ₹10.7 in profit last year, vs a sector median of 5.9%.
Debt is only 0.31x shareholder equity — a light load.
The market price is above our estimated fair-value range (based on stated assumptions).
About ₹49 of every ₹100 of reported profit turned into free cash (median, last 5 years); operating cash flow was positive in 5 of 5 years.
Intrynsic values UltraTech Cement Limited with 4 independent models and blends them into one estimated fair-value range. Every number below is an estimate based on the stated assumptions - change the assumptions and the estimate changes.
| Model | Estimated value | vs price | Weight |
|---|---|---|---|
| DCFFuture Cash Flows Method | ₹4,794 | -56% | - |
| EV/EBITDAIndustry Comparison Method | ₹5,753 | -47% | - |
| P/E MultipleEarnings Multiple Method | ₹6,720 | -38% | - |
| EV/EBITAfter-Depreciation Comparison Method | ₹6,803 | -37% | - |
Reverse DCF: today's market price implies the company must grow free cash flow about 51.9% a year for the next decade - versus 13.9% historical revenue growth.
| Revenue | ₹88,512 Cr | |
| Net profit | ₹8,188 Cr | |
| EPS | ₹277.1 | |
| Free cash flow | ₹5,638 Cr | |
| ROE (latest) | 10.7% | |
| Revenue growth (CAGR) | 14.9% | |
| Profit growth (CAGR) | 13.1% |
Intrynsic's multi-model valuation estimates UltraTech Cement Limited's fair value at ₹5,753 per share (range ₹4,794–₹6,803), last updated 29 September 2026. This is an estimate based on stated assumptions, not investment advice.
UltraTech Cement Limited trades at ₹10,829 against Intrynsic's estimated fair value of ₹5,753 - the market price is 47% above the estimate, i.e. above our estimated fair-value range. Different assumptions produce different estimates; see the model breakdown above.
UltraTech Cement Limited trades at about 39.1 times its latest annual earnings per share.
UltraTech Cement is India's largest cement maker, part of the Aditya Birla group, with plants across the country. Its results follow construction demand, cement prices and energy costs.
Intrynsic runs 4 valuation models for UltraTech Cement Limited (DCF, EV/EBITDA, P/E Multiple, EV/EBIT) and blends them into one estimated fair-value range. Every assumption - growth, discount rate, terminal value - is shown openly on this page.
Disclaimer: Intrynsic provides educational and informational analysis only. Fair-value figures are estimates based on stated assumptions - they are not investment advice, research recommendations, or an offer to transact in any security. Intrynsic is not a SEBI-registered investment adviser or research analyst. Markets carry risk; please do your own research or consult a registered adviser before making investment decisions. Prices shown may be delayed end-of-day values. Terms · Privacy