NSE: ULTRACEMCO· Building MaterialsCore · Aug 26Large cap
UltraTech Cement
Price-setter and consolidator
- Last close
- ₹10,829.00
- 29 Sept 2026 · reference
- 1D · 1M
- −1.8% · −6.6%
- price-only
- Weight
- 2.8%
- 31 Jul 2026 · Aug rank 13
- Thesis review
- 8 Sep 2026
- Why We Own, p50
Where the price sits
52-week range, house target and street targets
52w low ₹10,36252w high ₹13,052
- Reference close₹10,829
- Motilal Oswal · Buy₹13,800
- Antique Stock Broking Limited · BUY₹14,750
Range from reference closes; street targets from the PDFs on file (Research & documents). Internal target is never shown to prospects.
Investment case and valuation
Approved model, 8 Sep 2026 review
₹11,220
Price (2026-09-07)
43.7x / 33.5x
FY27E / FY28E P/E (Buoyant sheet)
10.9%
FY27E ROE (Buoyant sheet)
38.4x
Trailing P/E
4.4x
Price / book
13%
EPS CAGR FY26–28E
TTM P/E 38.4x and 4.39x book (screener, 7-Sep-2026); stock is down 9% over one year. 5-year average multiple not sourced. EV/EBITDA n.m.; dividend yield 2.1%.
- Model date
- 8 Sep 2026 (prices 7–8 Sep 2026)
- Horizon
- 12 months (bank pages: Sep-2027 roll-forward)
- Audience
- Internal — the book's guardrail: do not quote a target to a client; quote the thesis and the risk
- Reviewer · version
- Investment Committee framework · v1 (book)
Current vs history
Trailing multiples, FY-end
| Ratio | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 40.3x | 48.8x | 45.7x | 16.3x | 35.6x | 26.0x | 43.4x | 40.2x | 56.1x | 38.8x |
| Price to Book | 4.5x | 4.1x | 3.9x | 2.4x | 4.4x | 3.8x | 4.1x | 4.7x | 4.8x | 4.1x |
Tijori FY-end multiples on reported earnings/book; compatible definitions across years, but not the same basis as Buoyant's forward P/E on internal EPS.
UnavailableScenario lab disabled. Needs an approved forward EPS and forward P/E for UltraTech Cement plus a reference price. Missing inputs are not substituted.