ULTRACEMCO.NS UltraTech Cement Limited
INR·Price 11403.00·Mkt cap 3.35TComputed from the latest reported financials and the current market price.
Who's the real player?
A genuine play on this theme — most of its business sits right here.
Is the business healthy?
A mixed picture — real strengths, but soft spots in cash flow, returns or debt.
- Strong cash flow quality
- High FCF conversion
- Low accrual ratio
Are the smart people buying?
No ownership-change data for this stock. The score reflects heavy growth investment (capex) and buybacks, not visible insider buying.
- Strong promoter/insider ownership
- Rising insider net buys
- Institutional holding presence
- Capex growth indicates future investment
What is management saying?
No earnings-call transcript or filings found for this stock.
Is the price right?
Intrinsic value 2406.05 vs price 11403.00 — screens expensive on a cash-flow DCF (-78.9% to intrinsic). The base FCF growth assumption of 15% appears high and may not be sustainable, especially given a terminal growth rate of only 5%.
| Intrinsic / share | 2406.05 |
| Price | 11403.00 |
| Upside to intrinsic | -78.9% |
| Reverse-DCF implied g | 33.8% |
Base FCF 30.25B · growth 15.0% · discount 12.0% · terminal 5.0%.
Sensitivity — intrinsic value / share
Each cell is the intrinsic value at that growth (across →) and discount rate (down ↓). Center ★ is the base case. Cells green = above price (cheap), red = below (expensive).
| Growth rate → | |||||
|---|---|---|---|---|---|
| Disc ↓ ╲ g | 11% | 13% | 15% | 17% | 19% |
| 10% | 2649.37 | 3226.25 | 3896.13 | 4672.53 | 5570.67 |
| 11% | 2032.13 | 2491.54 | 3023.97 | 3639.95 | 4351.34 |
| 12% | 1593.6 | 1970.32 | ★ 2406.05 | 2909.25 | 3489.44 |
| 13% | 1266.62 | 1582.28 | 1946.69 | 2366.76 | 2850.3 |
| 14% | 1013.86 | 1282.84 | 1592.75 | 1949.36 | 2359.16 |
Through the masters' eyes
Each investor's numeric rules, checked against this stock's metrics: exact math, no guesswork. Tap one to see which rules pass, fail, and what to judge yourself.
▶
Passes 3 of 4 of Radhakishan Damani's numeric checks. Still judge the non-numeric criteria below for yourself.
- Very low debt (D/E ≤ 0.5) — now 0.31
- Consistent revenue (consistency ≥ 80%) — now 96.8%
- Positive net margin — now 9.2%
- High returns on capital (ROCE ≥ 18%) — now 11.5%
- A durable consumer franchise
- Pricing power
- A long runway, bought patiently
▶
Passes 1 of 2 of Peter Lynch's numeric checks. Still judge the non-numeric criteria below for yourself.
- Manageable debt (D/E ≤ 1.0) — now 0.31
- Solid liquidity (current ratio ≥ 1.5) — now 0.75
- A simple business you understand
- Which 'type' it is (fast grower, stalwart, cyclical…)
- A believable growth story
Couldn't check from available data: PEG ≤ 1 (growth cheap vs price) — not available; Earnings growth ≥ 15% — not available
▶
Passes 1 of 2 of Raamdeo Agrawal's numeric checks. Still judge the non-numeric criteria below for yourself.
- Longevity: revenue consistency ≥ 70% — now 96.8%
- Quality: ROCE ≥ 18% — now 11.5%
- Durability of the growth (longevity)
- Quality and honesty of management
Couldn't check from available data: Growth: earnings CAGR ≥ 15% — not available; Price: PEG ≤ 2 — not available
▶
Passes 1 of 2 of Vijay Kedia's numeric checks. Still judge the non-numeric criteria below for yourself.
- Manageable debt (D/E ≤ 1.0) — now 0.31
- ROE ≥ 15% — now 10.7%
- Ambitious, capable management
- A small company with a large opportunity
- Patience to hold for years
Couldn't check from available data: Strong earnings growth ≥ 20% — not available
▶
Passes 2 of 5 of Warren Buffett's numeric checks. Still judge the non-numeric criteria below for yourself.
- Positive free cash flow — now 6.4%
- Conservative leverage (D/E ≤ 1.0) — now 0.31
- ROE ≥ 15% — now 10.7%
- Net margin ≥ 10% — now 9.2%
- Trades below intrinsic value (margin of safety ≥ 0) — now -373.9%
- A business you can understand
- A durable competitive moat
- Honest, capable management
▶
Passes 2 of 6 of Benjamin Graham's numeric checks. Still judge the non-numeric criteria below for yourself.
- Debt below equity (D/E ≤ 1.0) — now 0.31
- Financially safe (Altman Z ≥ 3) — now 5.1
- P/E ≤ 15 — now 41.15
- P/B ≤ 1.5 — now 4.39
- Graham number: P/E × P/B ≤ 22.5 — now 180.6
- Strong liquidity (current ratio ≥ 1.5) — now 0.75
- A long record of stable earnings
- An uninterrupted dividend history
▶
Passes 1 of 3 of Rakesh Jhunjhunwala's numeric checks. Still judge the non-numeric criteria below for yourself.
- Conservative leverage (D/E ≤ 1.0) — now 0.31
- ROE ≥ 18% — now 10.7%
- Net margin ≥ 10% — now 9.2%
- A large, scalable opportunity
- Trustworthy, ambitious management
- Conviction to hold through volatility
Couldn't check from available data: Earnings growth ≥ 15% — not available
▶
Passes 1 of 4 of Charlie Munger's numeric checks. Still judge the non-numeric criteria below for yourself.
- Conservative leverage (D/E ≤ 1.0) — now 0.31
- High returns on capital (ROCE ≥ 15%) — now 11.5%
- ROE ≥ 15% — now 10.7%
- Trades below intrinsic value (margin of safety ≥ 0) — now -373.9%
- A high-quality, understandable business
- A durable moat
- Management of integrity
Financial statements (INR)
↗ sourceCash-flow lines highlighted — we trust cash over reported profit.
| Line | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | 885.12B | 759.55B | 698.10B | 623.38B | — |
| Operating income | 123.76B | 85.42B | 96.68B | 75.77B | — |
| EBITDA | 174.43B | 131.94B | 135.27B | 110.66B | — |
| Net income | 81.66B | 60.39B | 70.05B | 50.64B | — |
| Operating cash flow | 153.16B | 106.73B | 108.98B | 90.69B | — |
| Capex | -96.78B | -91.29B | -90.06B | -62.00B | — |
| Free cash flow | 56.38B | 15.44B | 18.92B | 28.68B | — |
| Total assets | 1.41T | 1.34T | 1.01T | 913.87B | — |
| Total equity | 766.24B | 707.07B | 602.27B | 543.25B | — |
| Total debt | 237.55B | 241.02B | 114.03B | 110.58B | — |
| Cash & equivalents | 3.54B | 4.67B | 5.54B | 3.70B | — |