Ultratech Cement (ULTRACEMCO) | Financial Analysis & Statements
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Jun 2025Income Metrics
Revenue
212.8B
Gross Profit
174.6B
82.05%
Operating Income
33.0B
15.53%
Net Income
22.2B
10.44%
EPS (Diluted)
₹75.61
Balance Sheet Metrics
Total Assets
1.3T
Total Liabilities
598.0B
Shareholders Equity
738.9B
Debt to Equity
0.81
Cash Flow Metrics
Revenue & Profitability Trend
Ultratech Cement Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 759.6B | 698.1B | 623.4B | 517.1B | 442.4B |
| Cost of Goods Sold | 137.0B | 133.9B | 109.0B | 90.0B | 79.5B |
| Gross Profit | 622.5B | 564.2B | 514.3B | 427.1B | 362.9B |
| Gross Margin % | 82.0% | 80.8% | 82.5% | 82.6% | 82.0% |
| Operating Expenses | |||||
| Research & Development | - | - | - | - | - |
| Selling, General & Administrative | 174.6B | 195.8B | 174.0B | 147.6B | 123.4B |
| Other Operating Expenses | 286.3B | 218.0B | 213.7B | 145.6B | 103.5B |
| Total Operating Expenses | 460.9B | 413.8B | 387.7B | 293.2B | 226.9B |
| Operating Income | 85.4B | 96.7B | 75.8B | 88.4B | 88.4B |
| Operating Margin % | 11.2% | 13.8% | 12.2% | 17.1% | 20.0% |
| Non-Operating Items | |||||
| Interest Income | - | 2.4B | 2.7B | 1.6B | 1.0B |
| Interest Expense | 16.5B | 9.6B | 7.6B | 8.9B | 14.9B |
| Other Non-Operating Income | - | - | - | - | - |
| Pre-tax Income | 75.3B | 94.2B | 74.2B | 83.6B | 78.6B |
| Income Tax | 14.9B | 24.2B | 23.4B | 11.9B | 25.4B |
| Effective Tax Rate % | 19.8% | 25.7% | 31.6% | 14.2% | 32.3% |
| Net Income | 60.4B | 70.0B | 50.7B | 73.3B | 54.6B |
| Net Margin % | 8.0% | 10.0% | 8.1% | 14.2% | 12.3% |
| Key Metrics | |||||
| EBITDA | 132.9B | 132.4B | 109.4B | 116.5B | 117.1B |
| EPS (Basic) | ₹205.30 | ₹243.05 | ₹175.63 | ₹254.64 | ₹189.40 |
| EPS (Diluted) | ₹205.13 | ₹242.87 | ₹175.54 | ₹254.53 | ₹189.33 |
| Basic Shares Outstanding | 294160253 | 288212100 | 288326723 | 288424921 | 288448714 |
| Diluted Shares Outstanding | 294160253 | 288212100 | 288326723 | 288424921 | 288448714 |
Income Statement Trend
Ultratech Cement Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 4.7B | 5.5B | 3.7B | 1.2B | 1.8B |
| Short-term Investments | 53.6B | 58.5B | 66.6B | 55.0B | 130.0B |
| Accounts Receivable | 58.9B | 42.8B | 38.7B | 30.7B | 25.7B |
| Inventory | 95.6B | 83.3B | 66.1B | 56.0B | 40.2B |
| Other Current Assets | 22.5B | 19.5B | 18.2B | 16.1B | 15.5B |
| Total Current Assets | 237.4B | 231.4B | 207.2B | 174.8B | 230.5B |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 768.5B | 570.2B | 535.9B | 495.2B | 493.5B |
| Goodwill | 254.4B | 130.8B | 130.2B | 127.7B | 127.0B |
| Intangible Assets | 100.8B | 3.9B | 3.7B | 2.7B | 2.7B |
| Long-term Investments | - | 4.3B | 4.4B | 3.7B | 3.8B |
| Other Non-Current Assets | 29.9B | 32.6B | 32.7B | 30.8B | 27.1B |
| Total Non-Current Assets | 1.1T | 776.6B | 706.6B | 663.5B | 631.3B |
| Total Assets | 1.3T | 1.0T | 913.9B | 838.3B | 861.8B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 93.3B | 84.8B | 72.1B | 58.6B | 45.5B |
| Short-term Debt | 74.5B | 51.5B | 46.9B | 40.2B | 60.5B |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | 66.9B | 51.8B | 47.9B | 54.3B | 52.5B |
| Total Current Liabilities | 323.6B | 269.1B | 234.3B | 201.6B | 203.5B |
| Non-Current Liabilities | |||||
| Long-term Debt | 166.5B | 62.5B | 63.7B | 62.8B | 146.7B |
| Deferred Tax Liabilities | 95.8B | 64.5B | 62.6B | 60.3B | 60.4B |
| Other Non-Current Liabilities | 304.9M | 300.0K | 1.1M | 8.0M | 15.3M |
| Total Non-Current Liabilities | 274.4B | 136.1B | 135.8B | 132.4B | 216.6B |
| Total Liabilities | 598.0B | 405.2B | 370.1B | 334.0B | 420.0B |
| Equity | |||||
| Common Stock | 2.9B | 2.9B | 2.9B | 2.9B | 2.9B |
| Retained Earnings | - | 99.2B | 90.5B | 80.5B | 65.7B |
| Treasury Stock | - | 3.4B | 2.6B | 1.5B | 775.0M |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 738.9B | 602.8B | 543.8B | 504.3B | 441.8B |
| Key Metrics | |||||
| Total Debt | 241.0B | 114.0B | 110.6B | 103.0B | 207.2B |
| Working Capital | -86.3B | -37.6B | -27.1B | -26.8B | 27.1B |
Balance Sheet Composition
Ultratech Cement Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 75.3B | 94.2B | 74.2B | 83.6B | 78.6B |
| Depreciation & Amortization | - | - | - | - | - |
| Stock-Based Compensation | 515.6M | 430.6M | 355.8M | 240.2M | 121.1M |
| Working Capital Changes | -1.6B | -24.1B | -22.2B | -25.5B | -5.9B |
| Operating Cash Flow | 87.8B | 77.6B | 57.8B | 65.2B | 86.4B |
| Investing Activities | |||||
| Capital Expenditures | -89.5B | -88.8B | -61.1B | -55.4B | -18.4B |
| Acquisitions | -111.1B | -1.8B | -9.1B | 3.3M | -34.2M |
| Investment Purchases | -159.1B | -76.3B | -76.4B | -78.3B | -142.5B |
| Investment Sales | 191.2B | 77.5B | 71.9B | 155.2B | 71.6B |
| Investing Cash Flow | -168.5B | -89.5B | -74.7B | 20.8B | -89.3B |
| Financing Activities | |||||
| Share Repurchases | -1.0B | -1.0B | -1.1B | -911.9M | 0 |
| Dividends Paid | -20.1B | -10.9B | -10.9B | -10.6B | -3.7B |
| Debt Issuance | 73.4B | 4.4B | 8.3B | 1.4B | 39.7B |
| Debt Repayment | -5.5B | -10.7B | -5.8B | -103.5B | -65.0B |
| Financing Cash Flow | 67.8B | -8.5B | -7.4B | -113.1B | -27.6B |
| Free Cash Flow | 15.4B | 18.9B | 28.7B | 36.7B | 105.8B |
| Net Change in Cash | -12.9B | -20.4B | -24.3B | -27.1B | -30.5B |
Cash Flow Trend
Ultratech Cement Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
52.91
Forward P/E
88.71
Price to Book
5.06
Price to Sales
4.61
PEG Ratio
88.71
Profitability Ratios
Profit Margin
8.63%
Operating Margin
15.53%
Return on Equity
8.17%
Return on Assets
4.52%
Financial Health
Current Ratio
0.73
Debt to Equity
32.62
Beta
0.43
Per Share Data
EPS (TTM)
₹229.77
Book Value per Share
₹2,403.76
Revenue per Share
₹2,665.76
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| ultracemco | 3.6T | 52.91 | 5.06 | 8.17% | 8.63% | 32.62 |
| Grasim Industries | 1.9T | 49.36 | 1.91 | 5.23% | 2.50% | 118.85 |
| Ambuja Cements | 1.5T | 33.81 | 2.73 | 6.53% | 11.68% | 1.24 |
| Shree Cement | 1.1T | 74.07 | 5.10 | 5.20% | 7.65% | 4.85 |
| JK Cement | 532.3B | 53.21 | 8.74 | 14.22% | 8.02% | 99.56 |
| Dalmia Bharat | 421.5B | 45.06 | 2.43 | 3.90% | 6.68% | 32.58 |
Financial data is updated regularly. All figures are in the company's reporting currency.