Is the Cement sector outperforming NIFTY 500?
The 52-week sector comparison is unavailable. 3 of 25 covered companies currently have positive Mansfield relative strength versus NIFTY 500.
20-quarter listed-company comparison
Cement Stocks in India
Cement: UltraTech Cement Ltd owns the largest revenue base; BIGBLOC Construction Ltd has the fastest current growth.
Nifty Cement Index — Constituents & Performance
The Cement companies below are the listed Indian Cement universe this page tracks — the same constituent set people search for as the Nifty Cement index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.
The sector itself · before any single company
How has Cement moved against NIFTY 500?
The line below covers 5.1 years. Over the most recent two of them this sector is 17% behind NIFTY 500. Earnings across its companies grew 35% on average over the last four reported quarters.
FADING · −1 in 4w✓Fundamentals up, price down6 of 25 companies ahead of NIFTY 500 by 5% or more over three months6 are 20% or more behind over a year while earnings grew 20% or more
RS ↑1w · 8/25 >200d (+4) · 6/25 lead (−1) · EPS 17/25↑
Cement, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Strength anatomy
NarrowHow much of the sector is participating, how recently, and whether the movers score well.
Together6 of 25 stocks moving
Fresh2 crossed in the last 4 weeks
Backed by scoresmovers score +8 vs the sector average
Down the cap ladder — bar is now, tick is four weeks ago
Large
1/5+1
Mid
3/9+1
Small
2/11−3
Participation is not spreading downward this month; the larger companies are still carrying most of it.
Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 25 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.
Sector relative strength · before individual stocks
Is Cement outperforming NIFTY 500?
The 52-week comparison of Cement against NIFTY 500 is not available from the current market series. 3 of 25 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Rain Industries Ltd is the strongest against the sector itself at +51.4%. Readings are as of 2026-07-19.
—Sector vs NIFTY 500 · 13 weeks
—Sector vs NIFTY 500 · 52 weeks
3/25Stocks leading NIFTY 500
12/25Stocks leading sector
Sector metric: 22.9 as of 2026-07-19 · CONSOLIDATION · falling.
The central tension: the companies with the most scale are not necessarily the companies creating the most change.
Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.
Bottom line
The 52-week sector comparison is unavailable. 3 of 25 covered companies currently have positive Mansfield relative strength versus NIFTY 500. UltraTech Cement Ltd leads with revenue of ₹91,884 crore, based on 26 of 26 comparable companies through Jun 2026. BIGBLOC Construction Ltd has the fastest current revenue growth at 26.2%, across 26 of 26 comparable companies.
Which Cement company is largest by revenue?
UltraTech Cement Ltd leads with revenue of ₹91,884 crore, based on 26 of 26 comparable companies through Jun 2026.
Which Cement company is growing fastest?
BIGBLOC Construction Ltd has the fastest current revenue growth at 26.2%, across 26 of 26 comparable companies.
Which Cement company has the strongest 4-Factor Sector Score?
Star Cement Ltd ranks first at 74.3/100 with 86.8% evidence confidence. The score prioritizes research; it is not a buy recommendation.
Which Cement company has the least gross debt?
HeidelbergCement India Ltd has the lowest comparable gross debt at ₹14 crore. UltraTech Cement Ltd has the highest at ₹23,755 crore.
Which Cement company has the lowest comparable PEG?
Orient Cement Ltd has the lowest comparable Guarded PEG at 0.25, among 12 of 26 companies that pass the metric’s comparability rules.
How much history does this Cement comparison include?
The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.
How is the 4-Factor Sector Score calculated?
The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.
Companies
26
complete canonical membership
Combined market value
₹7.7 L Cr
UltraTech Cement Ltd
Revenue growing
25/26
positive TTM year-on-year growth
Beating NIFTY 500
3/25
positive Mansfield relative strength
Global company selection
00 · research priority, made explicit
4-Factor Sector Score
An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.
Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Star Cement Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 86.8% evidence confidence.
Dalmia Bharat Ltd looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.
1. Star Cement Ltd · STARCEMENT
74.3/100 · Favorable setup · 87% evidence
Exact sum: 29.1 + 21.2 + 11.9 + 12.1 = 74.3
Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
29.1/35Growth & earnings
Revenue 19.4% · PAT 100% · OPM change 2 pp
83% evidence
21.2/25Capital efficiency
ROCE 16.7% · debt/equity 0.19×
95% evidence
11.9/20Valuation
P/E 20.6× · PEG 1.11
100% evidence
12.1/20Relative strength
RS sector 13.8% · RS bench -12.1% · 1Y -9.2%
70% evidence
2. NCL Industries Ltd · NCLIND
70.9/100 · Favorable setup · 83% evidence
Exact sum: 25.3 + 18 + 15 + 12.6 = 70.9
Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
25.3/35Growth & earnings
Revenue 1.8% · PAT 100% · OPM change 7 pp
83% evidence
18.0/25Capital efficiency
ROCE 14.5% · debt/equity 0.25×
95% evidence
15.0/20Valuation
P/E 6.4× · PEG —
50% evidence
12.6/20Relative strength
RS sector 1.6% · RS bench -5.3% · 1Y -20.3%
100% evidence
3. Mangalam Cement Ltd · MANGLMCEM
61.5/100 · Mixed-positive evidence · 96% evidence
Exact sum: 21.2 + 10.8 + 15.4 + 14.1 = 61.5
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
21.2/35Growth & earnings
Revenue 4.6% · PAT 100% · OPM change 0 pp
88% evidence
10.8/25Capital efficiency
ROCE 10.8% · debt/equity 0.91×
100% evidence
15.4/20Valuation
P/E 18.5× · PEG 0.6
100% evidence
14.1/20Relative strength
RS sector 28.9% · RS bench 21.4% · 1Y 34.5%
100% evidence
4. Rain Industries Ltd · RAIN
61.4/100 · Mixed-positive evidence · 65% evidence
Exact sum: 22.6 + 8.6 + 10.2 + 20 = 61.4
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
22.6/35Growth & earnings
Revenue 14.4% · PAT 100% · OPM change 5 pp
62% evidence
8.6/25Capital efficiency
ROCE 8.3% · debt/equity 1.32×
80% evidence
10.2/20Valuation
P/E 25.1× · PEG —
15% evidence
20.0/20Relative strength
RS sector 51.4% · RS bench 42.1% · 1Y 37.8%
100% evidence
5. UltraTech Cement Ltd · ULTRACEMCO
60.8/100 · Mixed-positive evidence · 91% evidence
Exact sum: 19.8 + 16.5 + 10.1 + 14.4 = 60.8
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19.8/35Growth & earnings
Revenue 17.2% · PAT 26.7% · OPM change -1 pp
95% evidence
16.5/25Capital efficiency
ROCE 12.8% · debt/equity 0.29×
95% evidence
10.1/20Valuation
P/E 40.5× · PEG 1.22
100% evidence
14.4/20Relative strength
RS sector 17% · RS bench -2.5% · 1Y -6.2%
70% evidence
6. HeidelbergCement India Ltd · HEIDELBERG
60.7/100 · Mixed-positive evidence · 96% evidence
Exact sum: 19.3 + 19.6 + 14.7 + 7.1 = 60.7
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19.3/35Growth & earnings
Revenue 8.5% · PAT 26.4% · OPM change -1 pp
88% evidence
19.6/25Capital efficiency
ROCE 14.7% · debt/equity 0.01×
100% evidence
14.7/20Valuation
P/E 25.4× · PEG 0.59
100% evidence
7.1/20Relative strength
RS sector -4.2% · RS bench -11.2% · 1Y -25.6%
100% evidence
7. Shree Cement Ltd · SHREECEM
60.3/100 · Mixed-positive evidence · 93% evidence
Exact sum: 20.3 + 17.8 + 7.7 + 14.5 = 60.3
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20.3/35Growth & earnings
Revenue 8.6% · PAT 55.7% · OPM change -3 pp
83% evidence
17.8/25Capital efficiency
ROCE 10.3% · debt/equity 0.08×
95% evidence
7.7/20Valuation
P/E 57.4× · PEG 1.31
100% evidence
14.5/20Relative strength
RS sector 5.1% · RS bench -2.2% · 1Y -13.9%
100% evidence
8. Orient Cement Ltd · ORIENTCEM
58.4/100 · Mixed-positive evidence · 93% evidence
Exact sum: 17.5 + 18.2 + 16.2 + 6.5 = 58.4
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17.5/35Growth & earnings
Revenue -12.1% · PAT -19.3% · OPM change 3 pp
100% evidence
18.2/25Capital efficiency
ROCE 16.5% · debt/equity 0.03×
100% evidence
16.2/20Valuation
P/E 12.9× · PEG 0.25
65% evidence
6.5/20Relative strength
RS sector -14.6% · RS bench -21.3% · 1Y -41.7%
100% evidence
9. Dalmia Bharat Ltd · DALBHARAT
52.2/100 · Mixed-positive evidence · 94% evidence
Exact sum: 12.1 + 13.2 + 14.7 + 12.2 = 52.2
Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
12.1/35Growth & earnings
Revenue 7.6% · PAT 0.4% · OPM change -3 pp
100% evidence
13.2/25Capital efficiency
ROCE 7.6% · debt/equity 0.41×
100% evidence
14.7/20Valuation
P/E 30.9× · PEG 0.72
100% evidence
12.2/20Relative strength
RS sector 12.6% · RS bench -11% · 1Y -19%
70% evidence
10. JSW Cement Ltd · JSWCEMENT
50.5/100 · Thin evidence · provisional · 52% evidence
Exact sum: 18.6 + 12 + 9.9 + 10 = 50.5
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
18.6/35Growth & earnings
Revenue 12% · PAT -80% · OPM change 5 pp
83% evidence
12.0/25Capital efficiency
ROCE 11.1% · debt/equity 0.68×
80% evidence
9.9/20Valuation
P/E 27.6× · PEG —
15% evidence
10.0/20Relative strength
RS sector — · RS bench — · 1Y -4.2%
0% evidence
11. India Cements Ltd · INDIACEM
50.0/100 · Mixed-positive evidence · 75% evidence
Exact sum: 21.1 + 7.8 + 5.4 + 15.7 = 50
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
21.1/35Growth & earnings
Revenue 7% · PAT 100% · OPM change 7 pp
74% evidence
7.8/25Capital efficiency
ROCE 1.2% · debt/equity 0.13×
100% evidence
5.4/20Valuation
P/E 93.4× · PEG —
50% evidence
15.7/20Relative strength
RS sector 20% · RS bench 1.9% · 1Y 18.2%
70% evidence
12. K C P Ltd · KCP
49.3/100 · Mixed-negative evidence · 77% evidence
Exact sum: 13.2 + 16.1 + 13.9 + 6.1 = 49.3
Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
13.2/35Growth & earnings
Revenue 1.9% · PAT 8.7% · OPM change 1 pp
83% evidence
16.1/25Capital efficiency
ROCE 12.2% · debt/equity 0.37×
95% evidence
13.9/20Valuation
P/E 10.4× · PEG —
50% evidence
6.1/20Relative strength
RS sector -14% · RS bench -7.1% · 1Y -22.2%
70% evidence
13. Nuvoco Vistas Corporation Ltd · NUVOCO
47.7/100 · Mixed-negative evidence · 87% evidence
Exact sum: 20.8 + 10.4 + 4.6 + 11.9 = 47.7
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20.8/35Growth & earnings
Revenue 9.5% · PAT 100% · OPM change 0 pp
100% evidence
10.4/25Capital efficiency
ROCE 7.1% · debt/equity 0.48×
100% evidence
4.6/20Valuation
P/E 30.6× · PEG 8.14
65% evidence
11.9/20Relative strength
RS sector 3.6% · RS bench -4.1% · 1Y -10%
70% evidence
14. The Ramco Cements Ltd · RAMCOCEM
47.3/100 · Mixed-negative evidence · 90% evidence
Exact sum: 20.4 + 13.6 + 1.2 + 12.1 = 47.3
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20.4/35Growth & earnings
Revenue 6% · PAT 100% · OPM change 1 pp
88% evidence
13.6/25Capital efficiency
ROCE 6.1% · debt/equity 0.48×
100% evidence
1.2/20Valuation
P/E 730× · PEG 4.14
100% evidence
12.1/20Relative strength
RS sector 11.1% · RS bench -10.3% · 1Y -20.3%
70% evidence
15. JK Lakshmi Cement Ltd · JKLAKSHMI
46.7/100 · Mixed-negative evidence · 66% evidence
Exact sum: 17.2 + 13.5 + 10.8 + 5.2 = 46.7
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17.2/35Growth & earnings
Revenue 9.2% · PAT 49.6% · OPM change -5 pp
83% evidence
13.5/25Capital efficiency
ROCE 12% · debt/equity 0.67×
80% evidence
10.8/20Valuation
P/E 17.9× · PEG —
15% evidence
5.2/20Relative strength
RS sector -8.2% · RS bench -23.8% · 1Y -42.3%
70% evidence
16. ACC Ltd · ACC
45.7/100 · Mixed-negative evidence · 94% evidence
Exact sum: 9.1 + 13.1 + 16.9 + 6.6 = 45.7
Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
9.1/35Growth & earnings
Revenue 11.6% · PAT -21.1% · OPM change -5 pp
100% evidence
13.1/25Capital efficiency
ROCE 11.2% · debt/equity 0.02×
100% evidence
16.9/20Valuation
P/E 13.2× · PEG 0.92
100% evidence
6.6/20Relative strength
RS sector -6.7% · RS bench -16.1% · 1Y -30.1%
70% evidence
17. J K Cements Ltd · JKCEMENT
45.4/100 · Mixed-negative evidence · 94% evidence
Exact sum: 11 + 14.6 + 7.7 + 12.1 = 45.4
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11.0/35Growth & earnings
Revenue 15.9% · PAT -7.1% · OPM change -5 pp
100% evidence
14.6/25Capital efficiency
ROCE 15.1% · debt/equity 0.88×
100% evidence
7.7/20Valuation
P/E 44.7× · PEG 1.46
100% evidence
12.1/20Relative strength
RS sector 10.4% · RS bench -8.2% · 1Y -17%
70% evidence
18. Sagar Cements Ltd · SAGCEM
45.2/100 · Thin evidence · provisional · 56% evidence
Exact sum: 23 + 5.8 + 10 + 6.4 = 45.2
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
23.0/35Growth & earnings
Revenue 17.4% · PAT 99.5% · OPM change 4 pp
62% evidence
5.8/25Capital efficiency
ROCE 2% · debt/equity 1.01×
80% evidence
10.0/20Valuation
P/E — · PEG —
0% evidence
6.4/20Relative strength
RS sector -8.1% · RS bench -13.8% · 1Y -32.8%
70% evidence
19. Deccan Cements Ltd · DECCANCE
43.9/100 · Mixed-negative evidence · 70% evidence
Exact sum: 22.3 + 8 + 9.2 + 4.4 = 43.9
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
22.3/35Growth & earnings
Revenue 20.6% · PAT 100% · OPM change -3 pp
83% evidence
8.0/25Capital efficiency
ROCE 3.3% · debt/equity 1×
95% evidence
9.2/20Valuation
P/E 43.4× · PEG —
15% evidence
4.4/20Relative strength
RS sector -12.9% · RS bench -27.6% · 1Y -47.3%
70% evidence
20. Birla Corporation Ltd · BIRLACORPN
42.5/100 · Mixed-negative evidence · 94% evidence
Exact sum: 16.8 + 11.2 + 8.5 + 6 = 42.5
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16.8/35Growth & earnings
Revenue 3.9% · PAT 44.6% · OPM change -1 pp
100% evidence
11.2/25Capital efficiency
ROCE 9.8% · debt/equity 0.46×
100% evidence
8.5/20Valuation
P/E 13.2× · PEG 3.92
100% evidence
6.0/20Relative strength
RS sector -14% · RS bench -6.9% · 1Y -28.3%
70% evidence
21. Ambuja Cements Ltd · AMBUJACEM
42.2/100 · Mixed-negative evidence · 79% evidence
Exact sum: 11.7 + 13.3 + 12.5 + 4.7 = 42.2
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11.7/35Growth & earnings
Revenue 15.1% · PAT 5.4% · OPM change -6 pp
83% evidence
13.3/25Capital efficiency
ROCE 5.6% · debt/equity 0.01×
80% evidence
12.5/20Valuation
P/E 21.1× · PEG —
50% evidence
4.7/20Relative strength
RS sector -8.1% · RS bench -14.7% · 1Y -26.5%
100% evidence
22. Saurashtra Cement Ltd · SAURASHCEM
42.0/100 · Mixed-negative evidence · 76% evidence
Exact sum: 19.3 + 8.5 + 9.8 + 4.4 = 42
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19.3/35Growth & earnings
Revenue 8.4% · PAT 87.5% · OPM change -5 pp
83% evidence
8.5/25Capital efficiency
ROCE 2.5% · debt/equity 0.11×
95% evidence
9.8/20Valuation
P/E 28.5× · PEG —
15% evidence
4.4/20Relative strength
RS sector -16.8% · RS bench -23.7% · 1Y -33.3%
100% evidence
23. Prism Johnson Ltd · PRSMJOHNSN
39.6/100 · Mixed-negative evidence · 63% evidence
Exact sum: 11.7 + 6.2 + 10 + 11.7 = 39.6
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11.7/35Growth & earnings
Revenue 6.3% · PAT -33.3% · OPM change -2 pp
83% evidence
6.2/25Capital efficiency
ROCE 5.9% · debt/equity 1.1×
80% evidence
10.0/20Valuation
P/E — · PEG —
0% evidence
11.7/20Relative strength
RS sector 14.3% · RS bench -19.1% · 1Y -30.9%
70% evidence
24. BIGBLOC Construction Ltd · BIGBLOC
35.7/100 · Thin evidence · provisional · 59% evidence
Exact sum: 15.1 + 5.1 + 10 + 5.5 = 35.7
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
15.1/35Growth & earnings
Revenue 26.2% · PAT -80% · OPM change -1.6 pp
62% evidence
5.1/25Capital efficiency
ROCE 1.8% · debt/equity 1.47×
95% evidence
10.0/20Valuation
P/E — · PEG —
0% evidence
5.5/20Relative strength
RS sector -9.7% · RS bench -16.1% · 1Y -23.9%
70% evidence
25. Shree Digvijay Cement Co. Ltd · SHREDIGCEM
30.0/100 · Adverse evidence · 81% evidence
Exact sum: 10.5 + 7 + 6.1 + 6.4 = 30
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10.5/35Growth & earnings
Revenue 19.6% · PAT -35% · OPM change -3.5 pp
95% evidence
7.0/25Capital efficiency
ROCE 6.4% · debt/equity 1.4×
95% evidence
6.1/20Valuation
P/E 62.6× · PEG —
50% evidence
6.4/20Relative strength
RS sector -12.4% · RS bench -9.9% · 1Y -15.6%
70% evidence
26. Shiva Cement Ltd · SHIVACEM
36.1/100 · Thin evidence · provisional · 43% evidence
Exact sum: 18.1 + 5 + 10 + 3 = 36.1
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
18.1/35Growth & earnings
Revenue 19.7% · PAT -47.1% · OPM change 15 pp
40% evidence
5.0/25Capital efficiency
ROCE -3% · debt/equity 40.08×
60% evidence
10.0/20Valuation
P/E — · PEG —
0% evidence
3.0/20Relative strength
RS sector -27.5% · RS bench -36.4% · 1Y -55.9%
70% evidence
01 · compare level, then change
Revenue Scale & Growth Durability
UltraTech Cement Ltd has the highest Revenue among the 26 Cement companies compared here, at ₹91,884 crore. Ambuja Cements Ltd is next at ₹40,655 crore. BIGBLOC Construction Ltd has the highest Revenue growth at 26.2%, so level and change sit with different companies. 26 of 26 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: UltraTech Cement Ltd is the scale leader at ₹91,884 crore, 126% ahead of Ambuja Cements Ltd. BIGBLOC Construction Ltd's growth is 26.2% from a ₹283 crore base, with 14 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.
LeaderUltraTech Cement Ltd · ₹91,884 crore
Gap126% versus #2 · Ambuja Cements Ltd
Persistence8/8 recent comparable periods
Coverage26/26 companies · 426 observations
Investor read: UltraTech Cement Ltd is the scale benchmark; BIGBLOC Construction Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.
This conclusion weakens if: UltraTech Cement Ltd's growth falls below BIGBLOC Construction Ltd's for two consecutive comparable reports while operating margin also compresses.
Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1UltraTech Cement Ltd ULTRACEMCO₹91.9K Cr
2Ambuja Cements Ltd AMBUJACEM₹40.7K Cr
3ACC Ltd ACC₹25.4K Cr
4Shree Cement Ltd SHREECEM₹20.9K Cr
5Rain Industries Ltd RAIN₹17.7K Cr
Revenue growthfastest growers
1BIGBLOC Construction Ltd BIGBLOC⚠ unverified26%
2Deccan Cements Ltd DECCANCE⚠ unverified21%
3Shiva Cement Ltd SHIVACEM · older report20%
4Shree Digvijay Cement Co. Ltd SHREDIGCEM⚠ unverified20%
5Star Cement Ltd STARCEMENT19%
Revenue · company comparison
26/26 level · 26/26 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Revenue | Revenue growth | Reported |
|---|---|---|---|
| UltraTech Cement Ltd ULTRACEMCO | ₹24.6K Cr | 16% | Jun 2026 |
| Ambuja Cements Ltd AMBUJACEM | ₹10.9K Cr | 9.4% | Mar 2026 |
| Shree Cement Ltd SHREECEM | ₹6.1K Cr | 10% | Mar 2026 |
| ACC Ltd ACC | ₹5.8K Cr | -4.6% | Jun 2026 |
| Rain Industries Ltd RAIN | ₹4.5K Cr | 20% | Mar 2026 |
| J K Cements Ltd JKCEMENT | ₹4.0K Cr | 20% | Jun 2026 |
| Dalmia Bharat Ltd DALBHARAT | ₹3.9K Cr | 7.0% | Jun 2026 |
| Nuvoco Vistas Corporation Ltd NUVOCO | ₹3.1K Cr | 8.9% | Jun 2026 |
| Birla Corporation Ltd BIRLACORPN | ₹2.6K Cr | 7.8% | Jun 2026 |
| The Ramco Cements Ltd RAMCOCEM | ₹2.6K Cr | 8.9% | Mar 2026 |
| Prism Johnson Ltd PRSMJOHNSN | ₹2.1K Cr | 7.7% | Mar 2026 |
| JK Lakshmi Cement Ltd JKLAKSHMI | ₹1.9K Cr | 0.2% | Mar 2026 |
| JSW Cement Ltd JSWCEMENT | ₹1.9K Cr | 11% | Mar 2026 |
| Star Cement Ltd STARCEMENT | ₹1.2K Cr | 12% | Mar 2026 |
| India Cements Ltd INDIACEM | ₹1.0K Cr | -0.6% | Jun 2026 |
| Sagar Cements Ltd SAGCEM | ₹787 Cr | 20% | Mar 2026 |
| K C P Ltd KCP⚠ unverified | ₹684 Cr | 7.7% | Mar 2026 |
| HeidelbergCement India Ltd HEIDELBERG | ₹646 Cr | 5.6% | Mar 2026 |
| Orient Cement Ltd ORIENTCEM | ₹604 Cr | -30% | Jun 2026 |
| Mangalam Cement Ltd MANGLMCEM | ₹490 Cr | -2.6% | Mar 2026 |
| Saurashtra Cement Ltd SAURASHCEM⚠ unverified | ₹447 Cr | -6.5% | Mar 2026 |
| NCL Industries Ltd NCLIND⚠ unverified | ₹400 Cr | 6.7% | Mar 2026 |
| Shree Digvijay Cement Co. Ltd SHREDIGCEM⚠ unverified | ₹337 Cr | 72% | Jun 2026 |
| Deccan Cements Ltd DECCANCE⚠ unverified | ₹214 Cr | 80% | Mar 2026 |
| Shiva Cement Ltd SHIVACEM | ₹126 Cr | 117% | Dec 2025 |
| BIGBLOC Construction Ltd BIGBLOC⚠ unverified | ₹87 Cr | 35% | Mar 2026 |
Full 20-quarter history · every available company
Revenue · reported quarter history
Showing the 12 largest of 26 companies with a series here. The remaining 14 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
ACC Ltd · ACC
₹3.7K Cr
₹4.2K Cr
₹4.4K Cr
₹4.5K Cr
₹4.0K Cr
₹4.5K Cr
₹4.8K Cr
₹5.2K Cr
₹4.4K Cr
₹4.9K Cr
₹5.4K Cr
₹5.2K Cr
₹4.6K Cr
₹6.0K Cr
₹6.1K Cr
₹6.1K Cr
₹6.0K Cr
₹6.5K Cr
₹7.1K Cr
₹5.8K Cr
Ambuja Cements Ltd · AMBUJACEM
—
—
—
—
—
₹7.9K Cr
₹8.0K Cr
₹8.7K Cr
₹7.4K Cr
₹8.1K Cr
₹8.9K Cr
₹8.4K Cr
₹7.6K Cr
₹9.4K Cr
₹10.0K Cr
₹10.3K Cr
₹9.2K Cr
₹10.3K Cr
₹10.9K Cr
—
Dalmia Bharat Ltd · DALBHARAT
₹2.6K Cr
₹2.7K Cr
₹3.4K Cr
₹3.3K Cr
₹3.0K Cr
₹3.4K Cr
₹3.9K Cr
₹3.6K Cr
₹3.2K Cr
₹3.6K Cr
₹4.3K Cr
₹3.6K Cr
₹3.1K Cr
₹3.2K Cr
₹4.1K Cr
₹3.6K Cr
₹3.4K Cr
₹3.5K Cr
₹4.2K Cr
₹3.9K Cr
India Cements Ltd · INDIACEM
₹1.2K Cr
₹1.2K Cr
₹1.4K Cr
₹1.5K Cr
₹1.3K Cr
₹1.3K Cr
₹1.5K Cr
₹1.4K Cr
₹1.3K Cr
₹1.1K Cr
₹1.2K Cr
₹1.0K Cr
₹1.0K Cr
₹940 Cr
₹1.2K Cr
₹1.0K Cr
₹1.1K Cr
₹1.1K Cr
₹1.2K Cr
₹1.0K Cr
J K Cements Ltd · JKCEMENT
₹1.9K Cr
₹2.0K Cr
₹2.4K Cr
₹2.3K Cr
₹2.2K Cr
₹2.4K Cr
₹2.8K Cr
₹2.8K Cr
₹2.8K Cr
₹2.9K Cr
₹3.1K Cr
₹2.8K Cr
₹2.6K Cr
₹2.9K Cr
₹3.6K Cr
₹3.4K Cr
₹3.0K Cr
₹3.5K Cr
₹3.9K Cr
₹4.0K Cr
JSW Cement Ltd · JSWCEMENT
—
—
—
—
—
—
—
—
—
—
—
₹1.4K Cr
₹1.2K Cr
₹1.4K Cr
₹1.7K Cr
₹1.6K Cr
₹1.4K Cr
₹1.6K Cr
₹1.9K Cr
—
Nuvoco Vistas Corporation Ltd · NUVOCO
₹2.0K Cr
₹2.2K Cr
₹2.9K Cr
₹2.7K Cr
₹2.4K Cr
₹2.6K Cr
₹2.9K Cr
₹2.8K Cr
₹2.6K Cr
₹2.4K Cr
₹2.9K Cr
₹2.6K Cr
₹2.3K Cr
₹2.4K Cr
₹3.0K Cr
₹2.9K Cr
₹2.5K Cr
₹2.7K Cr
₹3.3K Cr
₹3.1K Cr
Rain Industries Ltd · RAIN
—
—
—
—
₹5.6K Cr
₹5.5K Cr
₹5.3K Cr
₹4.6K Cr
₹4.2K Cr
₹4.1K Cr
₹3.7K Cr
₹4.1K Cr
₹3.9K Cr
₹3.7K Cr
₹3.8K Cr
₹4.4K Cr
₹4.5K Cr
₹4.3K Cr
₹4.5K Cr
—
Shree Cement Ltd · SHREECEM
₹3.4K Cr
₹3.6K Cr
₹4.4K Cr
₹4.4K Cr
₹4.0K Cr
₹4.3K Cr
₹5.1K Cr
₹5.0K Cr
₹4.8K Cr
₹5.2K Cr
₹5.4K Cr
₹5.1K Cr
₹4.1K Cr
₹4.6K Cr
₹5.5K Cr
₹5.3K Cr
₹4.8K Cr
₹4.8K Cr
₹6.1K Cr
—
Star Cement Ltd · STARCEMENT
₹407 Cr
₹555 Cr
₹749 Cr
₹666 Cr
₹594 Cr
₹617 Cr
₹829 Cr
₹760 Cr
₹585 Cr
₹651 Cr
₹914 Cr
₹751 Cr
₹642 Cr
₹719 Cr
₹1.1K Cr
₹912 Cr
₹811 Cr
₹880 Cr
₹1.2K Cr
—
The Ramco Cements Ltd · RAMCOCEM
₹1.5K Cr
₹1.6K Cr
₹1.7K Cr
₹1.8K Cr
₹1.8K Cr
₹2.0K Cr
₹2.6K Cr
₹2.2K Cr
₹2.3K Cr
₹2.1K Cr
₹2.7K Cr
₹2.1K Cr
₹2.0K Cr
₹2.0K Cr
₹2.4K Cr
₹2.1K Cr
₹2.2K Cr
₹2.1K Cr
₹2.6K Cr
—
UltraTech Cement Ltd · ULTRACEMCO
₹12.0K Cr
₹13.0K Cr
₹15.8K Cr
₹15.2K Cr
₹13.9K Cr
₹15.5K Cr
₹18.7K Cr
₹17.7K Cr
₹16.0K Cr
₹16.7K Cr
₹20.4K Cr
₹18.8K Cr
₹16.3K Cr
₹17.8K Cr
₹23.1K Cr
₹21.3K Cr
₹19.6K Cr
₹21.8K Cr
₹25.8K Cr
₹24.6K Cr
Revenue growth · reported quarter history
Showing the 12 largest of 26 companies with a series here. The remaining 14 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
ACC Ltd · ACC
—
—
—
15%
6.4%
7.4%
8.2%
16%
11%
8.3%
13%
-0.0%
4.5%
22%
13%
17%
30%
8.6%
17%
-4.6%
Ambuja Cements Ltd · AMBUJACEM
—
—
—
—
—
—
—
—
—
2.8%
12%
-3.7%
1.7%
16%
12%
23%
21%
9.2%
9.4%
—
Dalmia Bharat Ltd · DALBHARAT
—
—
—
28%
15%
23%
15%
9.8%
6.1%
7.4%
10%
-0.2%
-2.1%
-12%
-5.0%
0.4%
11%
10%
3.8%
7.0%
India Cements Ltd · INDIACEM
—
—
—
—
7.5%
10%
4.8%
-5.1%
-4.8%
-13%
-17%
-29%
-19%
-16%
-3.1%
-0.2%
9.3%
19%
2.6%
-0.6%
J K Cements Ltd · JKCEMENT
—
—
—
—
18%
20%
18%
22%
24%
20%
12%
1.6%
-7.0%
-0.2%
15%
19%
18%
18%
8.6%
20%
JSW Cement Ltd · JSWCEMENT
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
7.8%
17%
13%
11%
—
Nuvoco Vistas Corporation Ltd · NUVOCO
—
—
—
—
19%
20%
-0.1%
5.8%
7.2%
-7.1%
0.2%
-6.1%
-12%
-0.5%
3.7%
9.0%
8.3%
12%
8.7%
8.9%
Rain Industries Ltd · RAIN
—
—
—
—
—
—
—
—
-25%
-25%
-30%
-12%
-5.4%
-10%
2.7%
7.5%
14%
17%
20%
—
Shree Cement Ltd · SHREECEM
—
—
—
21%
20%
18%
17%
14%
18%
21%
5.9%
1.8%
-15%
-12%
2.4%
3.1%
17%
5.0%
10%
—
Star Cement Ltd · STARCEMENT
—
—
—
30%
46%
11%
11%
14%
-1.5%
5.5%
10%
-1.2%
9.7%
10%
15%
21%
26%
22%
12%
—
The Ramco Cements Ltd · RAMCOCEM
—
—
—
44%
19%
30%
50%
26%
31%
4.9%
4.1%
-6.8%
-13%
-6.1%
-10%
-1.0%
9.5%
6.2%
8.9%
—
UltraTech Cement Ltd · ULTRACEMCO
—
—
—
—
16%
20%
18%
17%
15%
7.9%
9.4%
6.1%
1.8%
6.2%
13%
13%
20%
23%
12%
16%
02 · compare level, then change
Operating Economics & Margin Trend
Star Cement Ltd has the highest OPM among the 26 Cement companies compared here, at 27%. Orient Cement Ltd is next at 24%. Shiva Cement Ltd has the highest Margin change at +15 percentage points, so level and change sit with different companies. 26 of 26 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Star Cement Ltd leads opm at 27%; Shiva Cement Ltd leads margin change at +15 percentage points.
LeaderStar Cement Ltd · 27%
Gap12.5% versus #2 · Orient Cement Ltd
Persistence5/8 recent comparable periods
Coverage26/26 companies · 484 observations
Investor read: Star Cement Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current margin change signal.
Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Star Cement Ltd STARCEMENT27%
2Orient Cement Ltd ORIENTCEM24%
3Shree Cement Ltd SHREECEM23%
4Dalmia Bharat Ltd DALBHARAT21%
5UltraTech Cement Ltd ULTRACEMCO20%
Margin changefastest expanders
1Shiva Cement Ltd SHIVACEM · older report+15.0 pp
2India Cements Ltd INDIACEM+7.0 pp
3NCL Industries Ltd NCLIND⚠ unverified+7.0 pp
4JSW Cement Ltd JSWCEMENT+5.0 pp
5Rain Industries Ltd RAIN+5.0 pp
Operating margin · company comparison
26/26 level · 26/26 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | OPM | Margin change | Reported |
|---|---|---|---|
| Star Cement Ltd STARCEMENT | 27% | +2.0 pp | Mar 2026 |
| Orient Cement Ltd ORIENTCEM | 24% | +3.0 pp | Jun 2026 |
| Shree Cement Ltd SHREECEM | 23% | −3.0 pp | Mar 2026 |
| Dalmia Bharat Ltd DALBHARAT | 21% | −3.0 pp | Jun 2026 |
| UltraTech Cement Ltd ULTRACEMCO | 20% | −1.0 pp | Jun 2026 |
| JSW Cement Ltd JSWCEMENT | 19% | +5.0 pp | Mar 2026 |
| Nuvoco Vistas Corporation Ltd NUVOCO | 18% | 0.0 pp | Jun 2026 |
| K C P Ltd KCP⚠ unverified | 17% | +1.0 pp | Mar 2026 |
| J K Cements Ltd JKCEMENT | 16% | −5.0 pp | Jun 2026 |
| India Cements Ltd INDIACEM | 15% | +7.0 pp | Jun 2026 |
| Rain Industries Ltd RAIN | 15% | +5.0 pp | Mar 2026 |
| The Ramco Cements Ltd RAMCOCEM | 14% | +1.0 pp | Mar 2026 |
| JK Lakshmi Cement Ltd JKLAKSHMI | 14% | −5.0 pp | Mar 2026 |
| HeidelbergCement India Ltd HEIDELBERG | 14% | −1.0 pp | Mar 2026 |
| Ambuja Cements Ltd AMBUJACEM | 13% | −6.0 pp | Mar 2026 |
| Birla Corporation Ltd BIRLACORPN | 13% | −1.0 pp | Jun 2026 |
| NCL Industries Ltd NCLIND⚠ unverified | 13% | +7.0 pp | Mar 2026 |
| Mangalam Cement Ltd MANGLMCEM | 11% | 0.0 pp | Mar 2026 |
| Sagar Cements Ltd SAGCEM | 10% | +4.0 pp | Mar 2026 |
| Shree Digvijay Cement Co. Ltd SHREDIGCEM⚠ unverified | 8.7% | −3.5 pp | Jun 2026 |
| Deccan Cements Ltd DECCANCE⚠ unverified | 8.1% | −3.0 pp | Mar 2026 |
| ACC Ltd ACC | 8.0% | −5.0 pp | Jun 2026 |
| Prism Johnson Ltd PRSMJOHNSN | 8.0% | −2.0 pp | Mar 2026 |
| BIGBLOC Construction Ltd BIGBLOC⚠ unverified | 7.3% | −1.6 pp | Mar 2026 |
| Saurashtra Cement Ltd SAURASHCEM⚠ unverified | 6.0% | −5.0 pp | Mar 2026 |
| Shiva Cement Ltd SHIVACEM | 1.0% | +15.0 pp | Dec 2025 |
Full 20-quarter history · every available company
OPM · reported quarter history
Showing the 12 largest of 26 companies with a series here. The remaining 14 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
ACC Ltd · ACC
19%
13%
14%
9.5%
0.4%
8.0%
10%
15%
12%
18%
15%
13%
9.0%
19%
14%
13%
14%
11%
9.0%
8.0%
Ambuja Cements Ltd · AMBUJACEM
21%
15%
18%
14%
4.7%
13%
16%
19%
18%
21%
19%
15%
15%
18%
19%
19%
19%
13%
13%
—
Dalmia Bharat Ltd · DALBHARAT
24%
15%
20%
18%
13%
19%
18%
17%
19%
22%
15%
18%
14%
16%
19%
24%
20%
17%
21%
21%
India Cements Ltd · INDIACEM
12%
9.9%
4.4%
2.6%
-5.7%
-4.7%
-3.0%
1.0%
0.0%
4.0%
3.0%
-2.0%
-16%
-20%
0.0%
8.0%
7.0%
7.0%
12%
15%
J K Cements Ltd · JKCEMENT
17%
18%
16%
18%
14%
10%
13%
15%
17%
21%
18%
17%
11%
17%
21%
21%
15%
16%
18%
16%
JSW Cement Ltd · JSWCEMENT
—
—
—
—
—
—
—
—
—
—
—
12%
7.0%
8.0%
14%
21%
19%
18%
19%
—
Nuvoco Vistas Corporation Ltd · NUVOCO
16%
10%
15%
14%
8.0%
10%
13%
14%
13%
17%
17%
13%
10%
11%
18%
18%
15%
14%
18%
18%
Rain Industries Ltd · RAIN
16%
12%
18%
22%
16%
11%
10%
14%
9.0%
-15%
9.0%
9.0%
6.0%
9.0%
10%
14%
14%
12%
15%
—
Shree Cement Ltd · SHREECEM
27%
23%
21%
18%
13%
17%
17%
19%
19%
24%
26%
18%
15%
21%
26%
25%
20%
20%
23%
—
Star Cement Ltd · STARCEMENT
18%
12%
15%
19%
12%
18%
20%
17%
17%
23%
20%
15%
15%
14%
25%
25%
23%
23%
27%
—
The Ramco Cements Ltd · RAMCOCEM
27%
15%
17%
17%
10%
14%
16%
15%
17%
19%
16%
15%
15%
14%
13%
19%
17%
13%
14%
—
UltraTech Cement Ltd · ULTRACEMCO
23%
19%
19%
20%
13%
15%
18%
17%
16%
19%
20%
16%
12%
16%
20%
21%
16%
18%
22%
20%
Margin change · reported quarter history
Showing the 12 largest of 26 companies with a series here. The remaining 14 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
ACC Ltd · ACC
+0.0 pp
−0.6 pp
−5.7 pp
−12.8 pp
−18.6 pp
−5.2 pp
−4.3 pp
+5.5 pp
+11.6 pp
+10.0 pp
+5.0 pp
−2.0 pp
−3.0 pp
+1.0 pp
−1.0 pp
0.0 pp
+5.0 pp
−8.0 pp
−5.0 pp
−5.0 pp
Ambuja Cements Ltd · AMBUJACEM
−0.6 pp
−3.2 pp
−5.8 pp
−12.4 pp
−16.6 pp
−1.8 pp
−2.0 pp
+5.2 pp
+13.3 pp
+8.0 pp
+3.0 pp
−4.0 pp
−3.0 pp
−3.0 pp
0.0 pp
+4.0 pp
+4.0 pp
−5.0 pp
−6.0 pp
—
Dalmia Bharat Ltd · DALBHARAT
−6.2 pp
−10.0 pp
−4.1 pp
−7.9 pp
−11.3 pp
+4.0 pp
−2.2 pp
−0.8 pp
+6.2 pp
+3.0 pp
−3.0 pp
+1.0 pp
−5.0 pp
−6.0 pp
+4.0 pp
+6.0 pp
+6.0 pp
+1.0 pp
+2.0 pp
−3.0 pp
India Cements Ltd · INDIACEM
−10.8 pp
−9.0 pp
−6.8 pp
−13.1 pp
−17.3 pp
−14.5 pp
−7.4 pp
−1.6 pp
+5.7 pp
+8.7 pp
+6.0 pp
−3.0 pp
−16.0 pp
−24.0 pp
−3.0 pp
+10.0 pp
+23.0 pp
+27.0 pp
+12.0 pp
+7.0 pp
J K Cements Ltd · JKCEMENT
−9.0 pp
−6.6 pp
−4.5 pp
−5.6 pp
−3.7 pp
−8.0 pp
−3.3 pp
−2.9 pp
+3.3 pp
+11.0 pp
+5.0 pp
+2.0 pp
−6.0 pp
−4.0 pp
+3.0 pp
+4.0 pp
+4.0 pp
−1.0 pp
−3.0 pp
−5.0 pp
JSW Cement Ltd · JSWCEMENT
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
+9.0 pp
+12.0 pp
+10.0 pp
+5.0 pp
—
Nuvoco Vistas Corporation Ltd · NUVOCO
−3.9 pp
−9.8 pp
−5.4 pp
−9.4 pp
−8.4 pp
−0.5 pp
−1.5 pp
+0.1 pp
+5.0 pp
+7.0 pp
+4.0 pp
−1.0 pp
−3.0 pp
−6.0 pp
+1.0 pp
+5.0 pp
+5.0 pp
+3.0 pp
0.0 pp
0.0 pp
Rain Industries Ltd · RAIN
−2.9 pp
−2.3 pp
−1.7 pp
+3.9 pp
−0.4 pp
−1.1 pp
−7.9 pp
−7.7 pp
−7.0 pp
−26.0 pp
−1.0 pp
−5.0 pp
−3.0 pp
+24.0 pp
+1.0 pp
+5.0 pp
+8.0 pp
+3.0 pp
+5.0 pp
—
Shree Cement Ltd · SHREECEM
−3.8 pp
−8.4 pp
−8.4 pp
−10.0 pp
−13.9 pp
−6.2 pp
−4.1 pp
+0.9 pp
+5.6 pp
+7.0 pp
+9.0 pp
−1.0 pp
−4.0 pp
−3.0 pp
0.0 pp
+7.0 pp
+5.0 pp
−1.0 pp
−3.0 pp
—
Star Cement Ltd · STARCEMENT
−2.0 pp
−7.7 pp
−2.2 pp
+0.5 pp
−5.9 pp
+5.8 pp
+4.9 pp
−1.7 pp
+5.3 pp
+5.0 pp
0.0 pp
−2.0 pp
−2.0 pp
−9.0 pp
+5.0 pp
+10.0 pp
+8.0 pp
+9.0 pp
+2.0 pp
—
The Ramco Cements Ltd · RAMCOCEM
−8.7 pp
−14.9 pp
−10.3 pp
−12.7 pp
−16.6 pp
−0.8 pp
−1.2 pp
−2.0 pp
+7.0 pp
+5.0 pp
0.0 pp
0.0 pp
−2.0 pp
−5.0 pp
−3.0 pp
+4.0 pp
+2.0 pp
−1.0 pp
+1.0 pp
—
UltraTech Cement Ltd · ULTRACEMCO
−3.4 pp
−6.7 pp
−6.1 pp
−7.6 pp
−9.2 pp
−3.6 pp
−1.5 pp
−3.4 pp
+2.6 pp
+4.0 pp
+2.0 pp
−1.0 pp
−4.0 pp
−3.0 pp
0.0 pp
+5.0 pp
+4.0 pp
+2.0 pp
+2.0 pp
−1.0 pp
03 · compare level, then change
Profit Scale & Acceleration
UltraTech Cement Ltd has the highest Net profit among the 26 Cement companies compared here, at ₹8,571 crore. Ambuja Cements Ltd is next at ₹5,579 crore. Deccan Cements Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.
What the numbers say: UltraTech Cement Ltd leads with ₹8,571 crore of TTM profit, 53.6% above Ambuja Cements Ltd. Deccan Cements Ltd shows ≥100% on the scoring scale (280.1% uncapped) growth from a ₹29 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.
LeaderUltraTech Cement Ltd · ₹8,571 crore
Gap53.6% versus #2 · Ambuja Cements Ltd
Persistence6/8 recent comparable periods
Coverage26/26 companies · 426 observations
Investor read: UltraTech Cement Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.
Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1UltraTech Cement Ltd ULTRACEMCO₹8.6K Cr
2Ambuja Cements Ltd AMBUJACEM₹5.6K Cr
3ACC Ltd ACC₹1.9K Cr
4Shree Cement Ltd SHREECEM₹1.8K Cr
5Dalmia Bharat Ltd DALBHARAT₹953 Cr
Profit growthfastest growers
1Deccan Cements Ltd DECCANCE⚠ unverified100%
2Mangalam Cement Ltd MANGLMCEM100%
3NCL Industries Ltd NCLIND⚠ unverified100%
4Nuvoco Vistas Corporation Ltd NUVOCO100%
5The Ramco Cements Ltd RAMCOCEM100%
Net profit · company comparison
26/26 level · 21/26 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Net profit | Profit growth | Reported |
|---|---|---|---|
| UltraTech Cement Ltd ULTRACEMCO | ₹2.6K Cr | 17% | Jun 2026 |
| Ambuja Cements Ltd AMBUJACEM | ₹1.9K Cr | 37% | Mar 2026 |
| Shree Cement Ltd SHREECEM | ₹528 Cr | -8.2% | Mar 2026 |
| JSW Cement Ltd JSWCEMENT | ₹362 Cr | 2,163% | Mar 2026 |
| J K Cements Ltd JKCEMENT | ₹275 Cr | -15% | Jun 2026 |
| Dalmia Bharat Ltd DALBHARAT | ₹192 Cr | -51% | Jun 2026 |
| Nuvoco Vistas Corporation Ltd NUVOCO | ₹160 Cr | 20% | Jun 2026 |
| Rain Industries Ltd RAIN | ₹158 Cr | -122% | Mar 2026 |
| The Ramco Cements Ltd RAMCOCEM | ₹151 Cr | 481% | Mar 2026 |
| ACC Ltd ACC | ₹147 Cr | -61% | Jun 2026 |
| Star Cement Ltd STARCEMENT | ₹147 Cr | 20% | Mar 2026 |
| JK Lakshmi Cement Ltd JKLAKSHMI | ₹125 Cr | -29% | Mar 2026 |
| K C P Ltd KCP⚠ unverified | ₹121 Cr | 70% | Mar 2026 |
| Birla Corporation Ltd BIRLACORPN | ₹116 Cr | -3.3% | Jun 2026 |
| Sagar Cements Ltd SAGCEM | ₹100 Cr | -708% | Mar 2026 |
| Orient Cement Ltd ORIENTCEM | ₹77 Cr | -62% | Jun 2026 |
| Mangalam Cement Ltd MANGLMCEM | ₹65 Cr | 282% | Mar 2026 |
| HeidelbergCement India Ltd HEIDELBERG | ₹45 Cr | -10% | Mar 2026 |
| NCL Industries Ltd NCLIND⚠ unverified | ₹42 Cr | 500% | Mar 2026 |
| India Cements Ltd INDIACEM | ₹27 Cr | 233% | Jun 2026 |
| Saurashtra Cement Ltd SAURASHCEM⚠ unverified | ₹19 Cr | -42% | Mar 2026 |
| Shree Digvijay Cement Co. Ltd SHREDIGCEM⚠ unverified | ₹7 Cr | -51% | Jun 2026 |
| Deccan Cements Ltd DECCANCE⚠ unverified | ₹5 Cr | -41% | Mar 2026 |
| BIGBLOC Construction Ltd BIGBLOC⚠ unverified | ₹-1 Cr | 52% | Mar 2026 |
| Prism Johnson Ltd PRSMJOHNSN | ₹-16 Cr | -113% | Mar 2026 |
| Shiva Cement Ltd SHIVACEM | ₹-34 Cr | — | Dec 2025 |
Full 20-quarter history · every available company
Net profit · reported quarter history
Showing the 12 largest of 26 companies with a series here. The remaining 14 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
ACC Ltd · ACC
₹450 Cr
₹281 Cr
₹396 Cr
₹227 Cr
₹-87 Cr
₹113 Cr
₹236 Cr
₹466 Cr
₹388 Cr
₹538 Cr
₹943 Cr
₹360 Cr
₹200 Cr
₹1.1K Cr
₹751 Cr
₹375 Cr
₹1.1K Cr
₹404 Cr
₹238 Cr
₹147 Cr
Ambuja Cements Ltd · AMBUJACEM
—
—
—
—
—
₹488 Cr
₹763 Cr
₹1.1K Cr
₹987 Cr
₹1.1K Cr
₹1.5K Cr
₹783 Cr
₹496 Cr
₹2.7K Cr
₹1.4K Cr
₹1.0K Cr
₹2.3K Cr
₹403 Cr
₹1.9K Cr
—
Dalmia Bharat Ltd · DALBHARAT
₹209 Cr
₹103 Cr
₹295 Cr
₹205 Cr
₹47 Cr
₹218 Cr
₹609 Cr
₹144 Cr
₹123 Cr
₹266 Cr
₹320 Cr
₹145 Cr
₹49 Cr
₹66 Cr
₹439 Cr
₹395 Cr
₹239 Cr
₹128 Cr
₹394 Cr
₹192 Cr
India Cements Ltd · INDIACEM
₹34 Cr
₹20 Cr
₹-10 Cr
₹82 Cr
₹-110 Cr
₹133 Cr
₹-229 Cr
₹-87 Cr
₹-80 Cr
₹1 Cr
₹-61 Cr
₹58 Cr
₹-339 Cr
₹119 Cr
₹18 Cr
₹-133 Cr
₹9 Cr
₹-3 Cr
₹60 Cr
₹27 Cr
J K Cements Ltd · JKCEMENT
₹151 Cr
₹143 Cr
₹201 Cr
₹163 Cr
₹112 Cr
₹37 Cr
₹107 Cr
₹113 Cr
₹176 Cr
₹284 Cr
₹220 Cr
₹185 Cr
₹136 Cr
₹190 Cr
₹361 Cr
₹324 Cr
₹159 Cr
₹174 Cr
₹331 Cr
₹275 Cr
JSW Cement Ltd · JSWCEMENT
—
—
—
—
—
—
—
—
—
—
—
₹-24 Cr
₹-76 Cr
₹-80 Cr
₹16 Cr
₹-1.4K Cr
₹75 Cr
₹131 Cr
₹362 Cr
—
Nuvoco Vistas Corporation Ltd · NUVOCO
₹-26 Cr
₹-86 Cr
₹29 Cr
₹20 Cr
₹-130 Cr
₹-75 Cr
₹201 Cr
₹14 Cr
₹2 Cr
₹31 Cr
₹100 Cr
₹3 Cr
₹-85 Cr
₹-61 Cr
₹166 Cr
₹133 Cr
₹36 Cr
₹49 Cr
₹141 Cr
₹160 Cr
Rain Industries Ltd · RAIN
—
—
—
—
₹429 Cr
₹126 Cr
₹142 Cr
₹207 Cr
₹-66 Cr
₹-1.1K Cr
₹-116 Cr
₹-45 Cr
₹-155 Cr
₹-134 Cr
₹-115 Cr
₹83 Cr
₹130 Cr
₹38 Cr
₹158 Cr
—
Shree Cement Ltd · SHREECEM
₹563 Cr
₹482 Cr
₹657 Cr
₹280 Cr
₹183 Cr
₹282 Cr
₹525 Cr
₹572 Cr
₹447 Cr
₹702 Cr
₹676 Cr
₹278 Cr
₹77 Cr
₹194 Cr
₹575 Cr
₹644 Cr
₹310 Cr
₹268 Cr
₹528 Cr
—
Star Cement Ltd · STARCEMENT
₹47 Cr
₹44 Cr
₹88 Cr
₹68 Cr
₹31 Cr
₹53 Cr
₹96 Cr
₹93 Cr
₹41 Cr
₹74 Cr
₹88 Cr
₹31 Cr
₹6 Cr
₹9 Cr
₹123 Cr
₹98 Cr
₹71 Cr
₹74 Cr
₹147 Cr
—
The Ramco Cements Ltd · RAMCOCEM
₹517 Cr
₹75 Cr
₹118 Cr
₹109 Cr
₹11 Cr
₹51 Cr
₹151 Cr
₹74 Cr
₹72 Cr
₹82 Cr
₹129 Cr
₹37 Cr
₹26 Cr
₹182 Cr
₹26 Cr
₹85 Cr
₹78 Cr
₹386 Cr
₹151 Cr
—
UltraTech Cement Ltd · ULTRACEMCO
₹1.3K Cr
₹1.7K Cr
₹2.6K Cr
₹1.6K Cr
₹759 Cr
₹1.1K Cr
₹1.7K Cr
₹1.7K Cr
₹1.3K Cr
₹1.8K Cr
₹2.3K Cr
₹1.5K Cr
₹708 Cr
₹1.4K Cr
₹2.5K Cr
₹2.2K Cr
₹1.2K Cr
₹1.7K Cr
₹3.0K Cr
₹2.6K Cr
Profit growth · reported quarter history
Showing the 12 largest of 25 companies with a series here. The remaining 13 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
ACC Ltd · ACC
—
—
—
-60%
-119%
-60%
-40%
105%
—
376%
300%
-23%
-48%
103%
-20%
4.2%
460%
-63%
-68%
-61%
Ambuja Cements Ltd · AMBUJACEM
—
—
—
—
—
—
—
—
—
124%
99%
-31%
-50%
144%
-11%
30%
364%
-85%
37%
—
Dalmia Bharat Ltd · DALBHARAT
—
—
—
-14%
-78%
112%
106%
-30%
162%
22%
-47%
0.7%
-60%
-75%
37%
172%
388%
94%
-10%
-51%
India Cements Ltd · INDIACEM
—
—
—
—
-424%
564%
—
-206%
—
-99%
—
—
—
11,800%
—
-329%
—
-103%
233%
—
J K Cements Ltd · JKCEMENT
—
—
—
—
-26%
-74%
-47%
-31%
57%
668%
106%
64%
-23%
-33%
64%
75%
17%
-8.4%
-8.3%
-15%
JSW Cement Ltd · JSWCEMENT
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
2,163%
—
Nuvoco Vistas Corporation Ltd · NUVOCO
—
—
—
—
—
—
593%
-30%
—
—
-50%
-79%
-4,350%
-297%
66%
4,333%
—
—
-15%
20%
Rain Industries Ltd · RAIN
—
—
—
—
—
—
—
—
-115%
-956%
-182%
-122%
—
—
—
—
—
—
—
—
Shree Cement Ltd · SHREECEM
—
—
—
-56%
-68%
-41%
-20%
104%
144%
149%
29%
-51%
-83%
-72%
-15%
132%
303%
38%
-8.2%
—
Star Cement Ltd · STARCEMENT
—
—
—
0.0%
-34%
20%
9.1%
37%
32%
40%
-8.3%
-67%
-85%
-88%
40%
216%
1,083%
722%
20%
—
The Ramco Cements Ltd · RAMCOCEM
—
—
—
-37%
-98%
-32%
28%
-32%
555%
61%
-15%
-50%
-64%
122%
-80%
130%
200%
112%
481%
—
UltraTech Cement Ltd · ULTRACEMCO
—
—
—
—
-42%
-38%
-36%
6.8%
69%
67%
35%
-12%
-45%
-23%
9.6%
49%
75%
27%
21%
17%
04 · not available
Capacity Spending & Returns On It
No company in this Cement comparison reports capital expenditure on a comparable basis, so there is nothing to rank here — 0 of 26 companies have a usable current reading. The section is shown rather than removed so an unavailable metric is not mistaken for one that was quietly left out. Filings were read through Jun 2026.
CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.
Withheld from this comparison: Ambuja Cements Ltd (AMBUJACEM) — its two data sources disagree by up to 49% on reported income across 14 comparable periods, so its derived ratios are withheld; JSW Cement Ltd (JSWCEMENT) — its two data sources disagree by up to 111% on reported income across 8 comparable periods, so its derived ratios are withheld; Rain Industries Ltd (RAIN) — its two data sources disagree by up to 72% on reported income across 15 comparable periods, so its derived ratios are withheld; JK Lakshmi Cement Ltd (JKLAKSHMI) — its two data sources disagree by up to 53% on reported income across 14 comparable periods, so its derived ratios are withheld; Prism Johnson Ltd (PRSMJOHNSN) — its two data sources disagree by up to 131% on reported income across 13 comparable periods, so its derived ratios are withheld; Sagar Cements Ltd (SAGCEM) — its two data sources disagree by up to 75% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
05 · compare level, then change
Debt Load & Balance-Sheet Headroom
HeidelbergCement India Ltd has the lowest Gross debt among the 26 Cement companies compared here, at ₹14 crore. Orient Cement Ltd is next at ₹72 crore. Shree Cement Ltd has the lowest Net debt at ₹6,631 crore net cash, so level and change sit with different companies. 26 of 26 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Shree Cement Ltd has the clearest covered balance-sheet capacity with ₹6,631 crore net cash and gross debt of ₹1,868 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.
LeaderHeidelbergCement India Ltd · ₹14 crore
Gap80.6% versus #2 · Orient Cement Ltd
Persistence8/8 recent comparable periods
Coverage26/26 companies · 399 observations
Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.
This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.
Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.
Gross debtlowest gross debt
1HeidelbergCement India Ltd HEIDELBERG₹14 Cr
2Orient Cement Ltd ORIENTCEM₹72 Cr
3Saurashtra Cement Ltd SAURASHCEM⚠ unverified₹107 Cr
4BIGBLOC Construction Ltd BIGBLOC⚠ unverified₹202 Cr
5NCL Industries Ltd NCLIND⚠ unverified₹239 Cr
Net debtlowest net debt
1Shree Cement Ltd SHREECEM₹-6.6K Cr
2K C P Ltd KCP⚠ unverified₹-476 Cr
3HeidelbergCement India Ltd HEIDELBERG₹-394 Cr
4Saurashtra Cement Ltd SAURASHCEM⚠ unverified₹-117 Cr
5ACC Ltd ACC₹-109 Cr
Debt and balance-sheet capacity · company comparison
26/26 level · 19/26 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Gross debt | Net debt | Reported |
|---|---|---|---|
| UltraTech Cement Ltd ULTRACEMCO | ₹23.8K Cr | ₹18.6K Cr | Jun 2026 |
| Rain Industries Ltd RAIN | ₹9.8K Cr | — | Mar 2026 |
| Dalmia Bharat Ltd DALBHARAT | ₹7.4K Cr | ₹2.1K Cr | Jun 2026 |
| J K Cements Ltd JKCEMENT | ₹6.2K Cr | ₹5.2K Cr | Jun 2026 |
| Nuvoco Vistas Corporation Ltd NUVOCO | ₹4.9K Cr | ₹4.8K Cr | Jun 2026 |
| JSW Cement Ltd JSWCEMENT | ₹4.5K Cr | — | Mar 2026 |
| The Ramco Cements Ltd RAMCOCEM | ₹3.9K Cr | ₹3.6K Cr | Mar 2026 |
| Birla Corporation Ltd BIRLACORPN | ₹3.4K Cr | ₹2.2K Cr | Jun 2026 |
| JK Lakshmi Cement Ltd JKLAKSHMI | ₹2.6K Cr | — | Mar 2026 |
| Shree Cement Ltd SHREECEM | ₹1.9K Cr | ₹-6.6K Cr | Mar 2026 |
| Sagar Cements Ltd SAGCEM | ₹1.7K Cr | — | Mar 2026 |
| Prism Johnson Ltd PRSMJOHNSN | ₹1.7K Cr | — | Mar 2026 |
| Shiva Cement Ltd SHIVACEM | ₹1.6K Cr | — | Dec 2025 |
| India Cements Ltd INDIACEM | ₹1.3K Cr | ₹1.2K Cr | Jun 2026 |
| Mangalam Cement Ltd MANGLMCEM | ₹888 Cr | ₹660 Cr | Mar 2026 |
| Ambuja Cements Ltd AMBUJACEM | ₹866 Cr | — | Mar 2026 |
| Deccan Cements Ltd DECCANCE⚠ unverified | ₹753 Cr | ₹662 Cr | Mar 2026 |
| K C P Ltd KCP⚠ unverified | ₹664 Cr | ₹-476 Cr | Mar 2026 |
| Star Cement Ltd STARCEMENT | ₹603 Cr | ₹478 Cr | Mar 2026 |
| Shree Digvijay Cement Co. Ltd SHREDIGCEM⚠ unverified | ₹514 Cr | ₹92 Cr | Jun 2026 |
| ACC Ltd ACC | ₹429 Cr | ₹-109 Cr | Jun 2026 |
| NCL Industries Ltd NCLIND⚠ unverified | ₹239 Cr | ₹290 Cr | Mar 2026 |
| BIGBLOC Construction Ltd BIGBLOC⚠ unverified | ₹202 Cr | ₹201 Cr | Mar 2026 |
| Saurashtra Cement Ltd SAURASHCEM⚠ unverified | ₹107 Cr | ₹-117 Cr | Mar 2026 |
| Orient Cement Ltd ORIENTCEM | ₹72 Cr | ₹53 Cr | Jun 2026 |
| HeidelbergCement India Ltd HEIDELBERG | ₹14 Cr | ₹-394 Cr | Mar 2026 |
Full 20-quarter history · every available company
Gross debt · reported quarter history
Showing the 12 largest of 26 companies with a series here. The remaining 14 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
ACC Ltd · ACC
₹99 Cr
₹126 Cr
—
—
—
—
₹153 Cr
₹153 Cr
₹407 Cr
₹407 Cr
₹355 Cr
₹355 Cr
₹457 Cr
₹457 Cr
₹430 Cr
₹430 Cr
₹485 Cr
₹485 Cr
₹429 Cr
—
Ambuja Cements Ltd · AMBUJACEM
—
₹477 Cr
—
—
—
—
₹523 Cr
—
—
—
₹699 Cr
—
—
—
₹788 Cr
—
₹1.3K Cr
—
₹866 Cr
—
Dalmia Bharat Ltd · DALBHARAT
₹3.1K Cr
₹3.1K Cr
₹3.2K Cr
₹3.2K Cr
₹3.4K Cr
₹3.4K Cr
₹3.9K Cr
₹3.9K Cr
₹5.4K Cr
₹5.4K Cr
₹4.8K Cr
₹4.8K Cr
₹4.9K Cr
₹4.9K Cr
₹5.7K Cr
₹5.7K Cr
₹7.1K Cr
₹7.1K Cr
₹7.4K Cr
—
India Cements Ltd · INDIACEM
₹3.1K Cr
₹3.1K Cr
₹3.1K Cr
₹3.1K Cr
₹3.0K Cr
₹3.0K Cr
₹2.9K Cr
₹2.9K Cr
₹2.8K Cr
₹2.8K Cr
₹2.6K Cr
₹2.6K Cr
₹2.1K Cr
₹2.1K Cr
₹1.2K Cr
₹1.2K Cr
₹1.3K Cr
₹1.3K Cr
₹1.3K Cr
₹1.3K Cr
J K Cements Ltd · JKCEMENT
₹3.7K Cr
₹3.7K Cr
₹4.1K Cr
₹4.2K Cr
₹4.8K Cr
₹4.8K Cr
₹5.3K Cr
₹5.3K Cr
₹5.4K Cr
₹5.4K Cr
₹5.6K Cr
₹5.6K Cr
₹5.7K Cr
₹5.7K Cr
₹6.0K Cr
₹6.0K Cr
₹6.5K Cr
₹6.5K Cr
₹6.2K Cr
₹6.2K Cr
JSW Cement Ltd · JSWCEMENT
—
—
₹4.6K Cr
—
—
—
₹5.6K Cr
—
—
—
₹6.3K Cr
—
—
—
₹6.6K Cr
—
₹4.6K Cr
—
₹4.5K Cr
—
Nuvoco Vistas Corporation Ltd · NUVOCO
₹6.9K Cr
₹6.9K Cr
₹5.6K Cr
₹5.6K Cr
₹5.5K Cr
₹5.5K Cr
₹4.8K Cr
₹4.8K Cr
₹5.1K Cr
₹5.1K Cr
₹4.4K Cr
₹4.4K Cr
₹4.9K Cr
₹4.9K Cr
₹4.1K Cr
₹4.1K Cr
₹5.8K Cr
₹5.8K Cr
₹4.9K Cr
₹4.9K Cr
Rain Industries Ltd · RAIN
—
₹8.5K Cr
—
—
—
₹9.7K Cr
—
—
—
₹8.7K Cr
—
—
—
₹8.5K Cr
—
₹9.7K Cr
—
₹9.8K Cr
—
—
Shree Cement Ltd · SHREECEM
₹2.1K Cr
₹2.1K Cr
₹2.1K Cr
₹2.1K Cr
₹2.9K Cr
₹2.9K Cr
₹2.7K Cr
₹2.7K Cr
₹2.0K Cr
₹2.0K Cr
₹1.7K Cr
₹1.7K Cr
₹1.7K Cr
₹1.7K Cr
₹1.0K Cr
₹1.0K Cr
₹2.1K Cr
₹2.1K Cr
₹1.9K Cr
—
Star Cement Ltd · STARCEMENT
₹39 Cr
₹39 Cr
₹16 Cr
₹16 Cr
₹58 Cr
₹58 Cr
₹35 Cr
₹35 Cr
₹32 Cr
₹32 Cr
₹147 Cr
₹147 Cr
₹379 Cr
₹379 Cr
₹403 Cr
₹403 Cr
₹643 Cr
₹643 Cr
₹603 Cr
—
The Ramco Cements Ltd · RAMCOCEM
₹3.6K Cr
₹3.6K Cr
₹4.0K Cr
₹4.0K Cr
₹4.8K Cr
₹4.8K Cr
₹4.5K Cr
₹4.5K Cr
₹5.1K Cr
₹5.1K Cr
₹4.9K Cr
₹4.9K Cr
₹5.2K Cr
₹5.2K Cr
₹4.7K Cr
₹4.7K Cr
₹4.7K Cr
₹4.7K Cr
₹3.9K Cr
—
UltraTech Cement Ltd · ULTRACEMCO
₹15.6K Cr
₹15.6K Cr
₹11.3K Cr
₹11.3K Cr
₹12.9K Cr
₹12.9K Cr
₹11.1K Cr
₹11.1K Cr
₹11.5K Cr
₹11.5K Cr
₹11.4K Cr
₹11.4K Cr
₹17.0K Cr
₹17.0K Cr
₹24.1K Cr
₹24.1K Cr
₹25.2K Cr
₹25.2K Cr
₹23.8K Cr
₹23.8K Cr
Net debt · reported quarter history
Showing the 12 largest of 19 companies with a series here. The remaining 7 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
ACC Ltd · ACC
₹-5.7K Cr
₹-7.2K Cr
—
—
—
—
₹-2.8K Cr
₹-2.8K Cr
₹-599 Cr
₹-599 Cr
₹-4.2K Cr
₹-4.2K Cr
₹-1.5K Cr
₹-1.5K Cr
₹-2.7K Cr
₹-2.7K Cr
₹193 Cr
₹193 Cr
₹-109 Cr
—
Birla Corporation Ltd · BIRLACORPN
₹3.6K Cr
₹3.6K Cr
₹3.5K Cr
₹3.6K Cr
₹4.3K Cr
₹4.3K Cr
₹3.8K Cr
₹3.8K Cr
₹3.8K Cr
₹3.8K Cr
₹3.1K Cr
₹3.1K Cr
₹3.3K Cr
₹3.3K Cr
₹2.4K Cr
₹2.7K Cr
₹2.5K Cr
₹2.5K Cr
₹2.2K Cr
—
Dalmia Bharat Ltd · DALBHARAT
₹-1.8K Cr
₹-1.8K Cr
₹-1.3K Cr
₹-1.3K Cr
₹729 Cr
₹729 Cr
₹672 Cr
₹672 Cr
₹845 Cr
₹845 Cr
₹390 Cr
₹390 Cr
₹781 Cr
₹781 Cr
₹1.1K Cr
₹1.1K Cr
₹2.0K Cr
₹2.0K Cr
₹2.1K Cr
—
HeidelbergCement India Ltd · HEIDELBERG
₹-124 Cr
₹-124 Cr
₹-170 Cr
₹-183 Cr
₹-32 Cr
₹-32 Cr
₹-291 Cr
₹-310 Cr
₹-358 Cr
₹-358 Cr
₹-396 Cr
₹-418 Cr
₹-290 Cr
₹-290 Cr
₹-379 Cr
₹-403 Cr
₹-313 Cr
₹-313 Cr
₹-394 Cr
—
India Cements Ltd · INDIACEM
₹3.1K Cr
₹3.1K Cr
₹3.0K Cr
₹3.0K Cr
₹2.9K Cr
₹2.9K Cr
₹2.9K Cr
₹2.9K Cr
₹2.8K Cr
₹2.8K Cr
₹2.5K Cr
₹2.5K Cr
₹2.1K Cr
₹2.1K Cr
₹1.0K Cr
₹1.1K Cr
₹1.3K Cr
₹1.3K Cr
₹1.2K Cr
₹1.2K Cr
J K Cements Ltd · JKCEMENT
₹3.1K Cr
₹3.1K Cr
₹3.2K Cr
₹3.2K Cr
₹3.6K Cr
₹3.6K Cr
₹4.0K Cr
₹4.0K Cr
₹4.4K Cr
₹4.4K Cr
₹3.6K Cr
₹3.9K Cr
₹5.2K Cr
₹5.2K Cr
₹3.7K Cr
₹3.7K Cr
₹5.1K Cr
₹5.1K Cr
₹5.2K Cr
₹5.2K Cr
Nuvoco Vistas Corporation Ltd · NUVOCO
₹5.9K Cr
₹5.9K Cr
₹5.3K Cr
₹5.3K Cr
₹5.4K Cr
₹5.4K Cr
₹4.6K Cr
₹4.6K Cr
₹5.0K Cr
₹5.0K Cr
₹4.3K Cr
₹4.3K Cr
₹4.7K Cr
₹4.7K Cr
₹3.9K Cr
₹3.9K Cr
₹5.6K Cr
₹5.6K Cr
₹4.8K Cr
₹4.8K Cr
Orient Cement Ltd · ORIENTCEM
₹589 Cr
₹589 Cr
₹263 Cr
₹263 Cr
₹402 Cr
₹402 Cr
₹329 Cr
₹329 Cr
₹247 Cr
₹247 Cr
₹94 Cr
₹94 Cr
₹168 Cr
₹168 Cr
₹-7 Cr
₹-7 Cr
₹53 Cr
₹53 Cr
₹53 Cr
—
Shree Cement Ltd · SHREECEM
₹-1.5K Cr
₹-1.5K Cr
₹-1.6K Cr
₹-1.6K Cr
₹-544 Cr
₹-544 Cr
₹-774 Cr
₹-774 Cr
₹-3.3K Cr
₹-3.3K Cr
₹-3.9K Cr
₹-3.9K Cr
₹-4.0K Cr
₹-4.0K Cr
₹-5.5K Cr
₹-5.5K Cr
₹-5.4K Cr
₹-5.4K Cr
₹-6.6K Cr
—
Star Cement Ltd · STARCEMENT
₹-466 Cr
₹-466 Cr
₹-369 Cr
₹-531 Cr
₹-380 Cr
₹-380 Cr
₹-275 Cr
₹-277 Cr
₹-99 Cr
₹-99 Cr
₹52 Cr
₹50 Cr
₹356 Cr
₹356 Cr
₹358 Cr
₹351 Cr
₹487 Cr
₹487 Cr
₹478 Cr
—
The Ramco Cements Ltd · RAMCOCEM
₹3.5K Cr
₹3.5K Cr
₹3.8K Cr
₹3.8K Cr
₹4.8K Cr
₹4.8K Cr
₹4.4K Cr
₹4.4K Cr
₹4.9K Cr
₹4.9K Cr
₹4.8K Cr
₹4.8K Cr
₹5.1K Cr
₹5.1K Cr
₹4.5K Cr
₹4.5K Cr
₹4.6K Cr
₹4.6K Cr
₹3.6K Cr
—
UltraTech Cement Ltd · ULTRACEMCO
₹8.8K Cr
₹8.8K Cr
₹6.2K Cr
₹6.0K Cr
₹10.0K Cr
₹10.0K Cr
₹4.2K Cr
₹4.2K Cr
₹7.3K Cr
₹7.3K Cr
₹5.3K Cr
₹5.1K Cr
₹10.4K Cr
₹10.4K Cr
₹19.8K Cr
₹19.8K Cr
₹21.5K Cr
₹21.5K Cr
₹18.6K Cr
₹18.6K Cr
06 · compare level, then change
Return On Capital Employed
Star Cement Ltd has the highest ROCE among the 26 Cement companies compared here, at 16.7%. Orient Cement Ltd is next at 16.5%. The same company also holds the highest ROCE change, at +7.7 percentage points. 26 of 26 companies report a comparable reading, the latest through Mar 2026. Its ROCE series carries 15 reported observations across the 20-quarter window.
What the numbers say: Star Cement Ltd leads ROCE at 16.7%, 0.2 percentage points above Orient Cement Ltd. Star Cement Ltd has the strongest latest improvement at +7.7 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.
LeaderStar Cement Ltd · 16.7%
Gap1.2% versus #2 · Orient Cement Ltd
Persistence4/8 recent comparable periods
Coverage26/26 companies · 284 observations
Investor read: Star Cement Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current roce change signal.
ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Star Cement Ltd STARCEMENT17%
2Orient Cement Ltd ORIENTCEM17%
3J K Cements Ltd JKCEMENT15%
4HeidelbergCement India Ltd HEIDELBERG15%
5NCL Industries Ltd NCLIND⚠ unverified15%
ROCE changefastest improvers
1Star Cement Ltd STARCEMENT+7.7 pp
2NCL Industries Ltd NCLIND⚠ unverified+7.4 pp
3Saurashtra Cement Ltd SAURASHCEM⚠ unverified+6.3 pp
4Orient Cement Ltd ORIENTCEM+6.1 pp
5JSW Cement Ltd JSWCEMENT+6.0 pp
Return on capital · company comparison
26/26 level · 26/26 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
Withheld from this chart: Ambuja Cements Ltd (AMBUJACEM) — its two data sources disagree by up to 49% on reported income across 14 comparable periods, so its derived ratios are withheld; JSW Cement Ltd (JSWCEMENT) — its two data sources disagree by up to 111% on reported income across 8 comparable periods, so its derived ratios are withheld; Rain Industries Ltd (RAIN) — its two data sources disagree by up to 72% on reported income across 15 comparable periods, so its derived ratios are withheld; JK Lakshmi Cement Ltd (JKLAKSHMI) — its two data sources disagree by up to 53% on reported income across 14 comparable periods, so its derived ratios are withheld; Prism Johnson Ltd (PRSMJOHNSN) — its two data sources disagree by up to 131% on reported income across 13 comparable periods, so its derived ratios are withheld; Sagar Cements Ltd (SAGCEM) — its two data sources disagree by up to 75% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | ROCE | ROCE change | Reported |
|---|---|---|---|
| Star Cement Ltd STARCEMENT | 15% | +7.7 pp | Mar 2026 |
| J K Cements Ltd JKCEMENT | 13% | −2.5 pp | Jun 2026 |
| UltraTech Cement Ltd ULTRACEMCO | 13% | +0.8 pp | Jun 2026 |
| Orient Cement Ltd ORIENTCEM | 13% | +6.1 pp | Jun 2026 |
| NCL Industries Ltd NCLIND⚠ unverified | 13% | +7.4 pp | Mar 2026 |
| HeidelbergCement India Ltd HEIDELBERG | 11% | +2.8 pp | Mar 2026 |
| Mangalam Cement Ltd MANGLMCEM | 9.5% | +3.3 pp | Mar 2026 |
| K C P Ltd KCP⚠ unverified | 9.3% | −1.3 pp | Mar 2026 |
| ACC Ltd ACC | 8.4% | −2.0 pp | Jun 2026 |
| Birla Corporation Ltd BIRLACORPN | 7.8% | +2.3 pp | Jun 2026 |
| Shree Cement Ltd SHREECEM | 7.7% | +3.6 pp | Mar 2026 |
| Nuvoco Vistas Corporation Ltd NUVOCO | 7.0% | +1.6 pp | Jun 2026 |
| Shree Digvijay Cement Co. Ltd SHREDIGCEM⚠ unverified | 6.8% | −2.6 pp | Jun 2026 |
| Saurashtra Cement Ltd SAURASHCEM⚠ unverified | 6.6% | +6.3 pp | Mar 2026 |
| Dalmia Bharat Ltd DALBHARAT | 6.3% | +1.4 pp | Jun 2026 |
| The Ramco Cements Ltd RAMCOCEM | 5.7% | +1.1 pp | Mar 2026 |
| Deccan Cements Ltd DECCANCE⚠ unverified | 3.0% | +2.4 pp | Mar 2026 |
| India Cements Ltd INDIACEM | 1.7% | +3.7 pp | Jun 2026 |
| BIGBLOC Construction Ltd BIGBLOC⚠ unverified | 1.2% | −5.3 pp | Mar 2026 |
Full 20-quarter history · every available company
ROCE · reported quarter history
Showing the 12 largest of 19 companies with a series here. The remaining 7 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
ACC Ltd · ACC
—
16%
—
—
—
—
4.0%
—
8.8%
15%
13%
17%
11%
20%
10%
18%
12%
14%
8.4%
—
Birla Corporation Ltd · BIRLACORPN
8.7%
—
6.1%
—
3.5%
—
2.3%
—
3.9%
6.8%
7.2%
7.7%
5.9%
5.5%
5.5%
7.0%
7.7%
8.5%
7.8%
—
Dalmia Bharat Ltd · DALBHARAT
5.9%
—
6.9%
—
5.1%
—
5.8%
—
5.7%
8.6%
5.7%
6.7%
5.6%
4.6%
4.9%
6.4%
6.4%
7.6%
6.3%
—
HeidelbergCement India Ltd · HEIDELBERG
22%
—
17%
—
12%
—
7.7%
—
9.3%
14%
12%
14%
10%
10%
8.4%
11%
11%
13%
11%
—
India Cements Ltd · INDIACEM
5.5%
—
2.8%
—
-0.8%
—
-4.2%
—
-3.8%
-2.8%
-0.3%
2.3%
-4.2%
0.7%
-4.8%
-2.0%
-2.2%
-0.2%
0.8%
1.7%
J K Cements Ltd · JKCEMENT
17%
—
13%
—
12%
—
8.3%
—
9.1%
14%
13%
16%
12%
14%
11%
16%
14%
16%
13%
13%
Nuvoco Vistas Corporation Ltd · NUVOCO
6.0%
—
3.9%
—
1.8%
—
1.9%
—
3.2%
1.4%
5.2%
5.2%
4.5%
3.5%
3.9%
5.4%
5.9%
7.2%
6.5%
7.0%
Orient Cement Ltd · ORIENTCEM
23%
—
23%
—
13%
—
11%
—
13%
15%
13%
14%
11%
9.8%
6.5%
11%
12%
14%
13%
—
Shree Cement Ltd · SHREECEM
17%
—
13%
—
9.2%
—
6.6%
—
8.6%
15%
12%
14%
7.6%
7.4%
4.1%
9.3%
7.6%
11%
7.7%
—
Star Cement Ltd · STARCEMENT
11%
—
9.5%
—
10%
—
14%
—
14%
17%
15%
14%
10%
8.0%
7.6%
12%
12%
17%
15%
—
The Ramco Cements Ltd · RAMCOCEM
13%
—
8.7%
—
5.5%
—
6.0%
6.5%
7.2%
8.4%
7.5%
7.7%
6.5%
7.4%
4.6%
6.9%
5.4%
9.6%
5.7%
—
UltraTech Cement Ltd · ULTRACEMCO
16%
—
14%
—
12%
—
11%
—
12%
14%
13%
14%
12%
12%
8.5%
12%
10%
13%
12%
13%
ROCE change · reported quarter history
Showing the 12 largest of 19 companies with a series here. The remaining 7 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
ACC Ltd · ACC
—
—
—
—
—
—
—
—
—
—
+8.6 pp
—
+1.9 pp
+4.6 pp
−2.2 pp
+0.6 pp
+1.0 pp
−5.5 pp
−2.0 pp
—
Birla Corporation Ltd · BIRLACORPN
—
—
—
—
−5.2 pp
—
−3.8 pp
—
+0.4 pp
—
+4.9 pp
—
+2.0 pp
−1.3 pp
−1.7 pp
−0.7 pp
+1.8 pp
+3.0 pp
+2.3 pp
—
Dalmia Bharat Ltd · DALBHARAT
—
—
—
—
−0.8 pp
—
−1.1 pp
—
+0.6 pp
—
−0.1 pp
—
−0.1 pp
−4.0 pp
−0.8 pp
−0.3 pp
+0.8 pp
+3.0 pp
+1.4 pp
—
HeidelbergCement India Ltd · HEIDELBERG
—
—
—
—
−9.7 pp
—
−9.0 pp
—
−3.0 pp
—
+4.3 pp
—
+0.7 pp
−3.1 pp
−3.6 pp
−2.7 pp
+0.9 pp
+3.0 pp
+2.8 pp
—
India Cements Ltd · INDIACEM
—
—
—
—
−6.3 pp
—
−7.0 pp
—
−3.0 pp
—
+3.9 pp
—
−0.4 pp
+3.5 pp
−4.5 pp
−4.3 pp
+2.0 pp
−0.9 pp
+5.6 pp
+3.7 pp
J K Cements Ltd · JKCEMENT
—
—
—
—
−5.1 pp
—
−5.1 pp
—
−2.4 pp
—
+4.9 pp
—
+2.7 pp
−0.6 pp
−1.8 pp
0.0 pp
+1.7 pp
+2.1 pp
+1.1 pp
−2.5 pp
Nuvoco Vistas Corporation Ltd · NUVOCO
—
—
—
—
−4.2 pp
—
−2.0 pp
—
+1.4 pp
—
+3.3 pp
—
+1.3 pp
+2.1 pp
−1.3 pp
+0.2 pp
+1.4 pp
+3.7 pp
+2.6 pp
+1.6 pp
Orient Cement Ltd · ORIENTCEM
—
—
—
—
−9.4 pp
—
−11.8 pp
—
−0.3 pp
—
+2.5 pp
—
−1.8 pp
−5.3 pp
−6.8 pp
−3.3 pp
+0.9 pp
+4.5 pp
+6.1 pp
—
Shree Cement Ltd · SHREECEM
—
—
—
—
−7.6 pp
—
−6.8 pp
—
−0.6 pp
—
+5.4 pp
—
−1.0 pp
−7.1 pp
−7.9 pp
−4.2 pp
0.0 pp
+3.9 pp
+3.6 pp
—
Star Cement Ltd · STARCEMENT
—
—
—
—
−0.6 pp
—
+4.3 pp
—
+4.1 pp
—
+0.7 pp
—
−3.9 pp
−9.3 pp
−6.9 pp
−2.3 pp
+1.9 pp
+8.6 pp
+7.7 pp
—
The Ramco Cements Ltd · RAMCOCEM
—
—
—
—
−7.6 pp
—
−2.7 pp
—
+1.7 pp
—
+1.5 pp
+1.2 pp
−0.7 pp
−1.0 pp
−2.9 pp
−0.8 pp
−1.1 pp
+2.2 pp
+1.1 pp
—
UltraTech Cement Ltd · ULTRACEMCO
—
—
—
—
−4.6 pp
—
−2.6 pp
—
+0.2 pp
—
+1.9 pp
—
−0.4 pp
−2.2 pp
−4.8 pp
−2.3 pp
−1.2 pp
+1.0 pp
+3.0 pp
+0.8 pp
07 · compare level, then change
Valuation Against Growth & Quality
Orient Cement Ltd has the lowest Guarded PEG among the 26 Cement companies compared here, at 0.25×. HeidelbergCement India Ltd is next at 0.59×. NCL Industries Ltd has the lowest P/E at 6.37×, so level and change sit with different companies. 12 of 26 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: Orient Cement Ltd has the lowest comparable Guarded PEG at 0.25×, 57.6% below HeidelbergCement India Ltd. Only 12 of 26 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.
LeaderOrient Cement Ltd · 0.25×
Gap57.6% versus #2 · HeidelbergCement India Ltd
Persistence0/8 recent comparable periods
Coverage12/26 companies · 49 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/e signal.
PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.
Guarded PEGlowest PEG
1Orient Cement Ltd ORIENTCEM0.3
2HeidelbergCement India Ltd HEIDELBERG0.6
3Mangalam Cement Ltd MANGLMCEM0.6
4Dalmia Bharat Ltd DALBHARAT0.7
5ACC Ltd ACC0.9
P/Elowest P/E
1NCL Industries Ltd NCLIND⚠ unverified6.4
2K C P Ltd KCP⚠ unverified10.4
3Orient Cement Ltd ORIENTCEM12.9
4ACC Ltd ACC13.2
5Birla Corporation Ltd BIRLACORPN13.2
Valuation · company comparison
12/26 level · 22/26 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Guarded PEG | P/E | Reported |
|---|---|---|---|
| Nuvoco Vistas Corporation Ltd NUVOCO | 8.1 | 28.0 | Jun 2026 |
| The Ramco Cements Ltd RAMCOCEM | 4.1 | 114.7 | Mar 2026 |
| Birla Corporation Ltd BIRLACORPN | 3.9 | 13.8 | Jun 2026 |
| J K Cements Ltd JKCEMENT | 1.5 | 42.1 | Jun 2026 |
| Shree Cement Ltd SHREECEM | 1.3 | 47.7 | Mar 2026 |
| UltraTech Cement Ltd ULTRACEMCO | 1.2 | 40.9 | Jun 2026 |
| Star Cement Ltd STARCEMENT | 1.1 | 22.4 | Mar 2026 |
| ACC Ltd ACC | 0.9 | 11.8 | Jun 2026 |
| Dalmia Bharat Ltd DALBHARAT | 0.7 | 29.9 | Jun 2026 |
| Mangalam Cement Ltd MANGLMCEM | 0.6 | 26.5 | Mar 2026 |
| HeidelbergCement India Ltd HEIDELBERG | 0.6 | 22.9 | Mar 2026 |
| Orient Cement Ltd ORIENTCEM | 0.3 | 8.1 | Jun 2026 |
| Ambuja Cements Ltd AMBUJACEM | — | 25.6 | Mar 2026 |
| JSW Cement Ltd JSWCEMENT | — | 43.5 | Mar 2026 |
| India Cements Ltd INDIACEM | — | 151.7 | Jun 2026 |
| Rain Industries Ltd RAIN | — | 226.1 | Mar 2026 |
| JK Lakshmi Cement Ltd JKLAKSHMI | — | 14.7 | Mar 2026 |
| Prism Johnson Ltd PRSMJOHNSN | — | 170.0 | Mar 2026 |
| Sagar Cements Ltd SAGCEM | — | 127.8 | Mar 2026 |
| K C P Ltd KCP⚠ unverified | — | 10.6 | Mar 2026 |
| Shree Digvijay Cement Co. Ltd SHREDIGCEM⚠ unverified | — | 45.0 | Jun 2026 |
| NCL Industries Ltd NCLIND⚠ unverified | — | 10.1 | Mar 2026 |
| Deccan Cements Ltd DECCANCE⚠ unverified | — | 149.3 | Mar 2026 |
| BIGBLOC Construction Ltd BIGBLOC⚠ unverified | — | -332.1 | Mar 2026 |
| Saurashtra Cement Ltd SAURASHCEM⚠ unverified | — | 19.7 | Mar 2026 |
Full 20-quarter history · every available company
Guarded PEG · reported quarter history
ACC Ltd · ACC
—
—
0.9
—
—
—
—
—
—
0.6
—
—
—
0.5
—
2.1
0.9
—
—
—
Birla Corporation Ltd · BIRLACORPN
0.3
0.5
—
—
—
—
—
—
—
—
—
—
—
—
—
—
3.9
—
—
—
Dalmia Bharat Ltd · DALBHARAT
—
—
—
—
—
—
—
0.8
0.9
—
—
—
—
—
—
—
—
—
—
0.7
HeidelbergCement India Ltd · HEIDELBERG
0.4
—
0.6
—
—
—
—
—
—
—
—
—
0.6
—
—
—
—
—
—
—
J K Cements Ltd · JKCEMENT
—
0.9
3.7
—
—
—
—
—
—
—
—
—
—
—
—
—
7.8
1.0
—
1.5
Mangalam Cement Ltd · MANGLMCEM
—
—
—
—
—
—
—
—
—
—
0.7
—
—
—
—
—
—
0.6
—
—
Nuvoco Vistas Corporation Ltd · NUVOCO
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
8.1
—
—
—
Orient Cement Ltd · ORIENTCEM
—
—
—
—
—
—
—
—
—
—
—
—
0.8
—
—
—
—
—
0.3
—
Shree Cement Ltd · SHREECEM
—
—
—
—
—
—
—
—
—
—
—
—
1.3
—
—
—
—
—
—
—
Star Cement Ltd · STARCEMENT
—
—
0.5
0.4
1.0
1.1
2.2
0.6
2.0
1.1
—
—
—
—
—
—
—
—
1.1
—
The Ramco Cements Ltd · RAMCOCEM
—
—
0.5
1.3
—
—
—
—
—
5.0
1.4
3.8
4.1
—
—
—
—
—
—
—
UltraTech Cement Ltd · ULTRACEMCO
1.9
—
—
—
2.6
—
—
7.2
—
—
4.6
—
1.3
4.5
—
—
—
3.5
1.5
1.2
P/E · reported quarter history
Showing the 12 largest of 25 companies with a series here. The remaining 13 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
ACC Ltd · ACC
20.6
19.1
20.4
22.7
32.5
52.5
43.2
36.5
44.5
31.7
27.9
22.9
23.1
21.0
15.2
15.6
14.7
10.1
9.8
11.8
Ambuja Cements Ltd · AMBUJACEM
24.9
22.6
20.9
28.2
42.4
55.5
35.1
39.4
36.6
34.8
37.3
43.6
42.5
41.3
30.1
33.1
30.9
23.4
25.6
—
Dalmia Bharat Ltd · DALBHARAT
30.8
27.6
22.6
32.6
41.1
61.5
51.7
36.8
41.5
37.1
30.0
44.4
38.6
38.5
53.0
59.1
45.0
36.4
29.1
29.9
India Cements Ltd · INDIACEM
25.4
31.2
46.4
62.5
72.3
66.1
—
—
—
-20.4
—
-434.7
—
-73.7
-59.8
—
923.0
—
-158.4
151.7
J K Cements Ltd · JKCEMENT
28.5
33.7
25.1
23.2
30.8
36.5
43.9
61.7
63.8
65.3
45.5
42.3
41.7
48.7
60.3
62.9
53.5
42.5
37.4
42.1
JSW Cement Ltd · JSWCEMENT
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
43.5
—
Nuvoco Vistas Corporation Ltd · NUVOCO
—
90.6
222.6
220.3
381.1
—
776.7
29.8
32.0
25.0
16.8
87.9
93.7
257.5
255.4
584.3
98.6
48.2
27.8
28.0
Rain Industries Ltd · RAIN
8.8
8.2
11.8
7.3
5.1
4.6
3.5
4.3
7.2
19.2
25.0
—
—
—
—
—
—
—
226.1
—
Shree Cement Ltd · SHREECEM
41.0
37.1
33.9
29.1
38.3
52.5
67.4
67.8
58.8
56.6
41.2
42.0
45.0
54.3
90.0
99.7
70.2
55.5
47.7
—
Star Cement Ltd · STARCEMENT
20.9
19.7
15.6
14.2
17.4
19.7
18.8
23.0
22.6
25.2
30.3
28.9
35.4
47.4
65.2
51.2
43.3
30.1
22.4
—
The Ramco Cements Ltd · RAMCOCEM
27.3
21.3
17.5
16.4
21.8
54.0
63.4
69.4
76.8
69.1
50.2
54.9
63.2
82.5
107.3
276.9
171.5
132.6
114.7
—
UltraTech Cement Ltd · ULTRACEMCO
33.7
34.2
27.9
22.0
25.6
30.9
37.6
47.3
46.1
53.2
43.9
47.7
49.8
51.8
56.0
58.1
51.9
47.2
41.9
40.9
08 · compare level, then change
Enterprise Value & Book Value
K C P Ltd has the lowest EV/EBITDA among the 26 Cement companies compared here, at 3.4×. Rain Industries Ltd is next at 4.5×. Saurashtra Cement Ltd has the lowest P/BV at 0.64×, so level and change sit with different companies. 25 of 26 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: K C P Ltd leads ev/ebitda at 3.4×; Saurashtra Cement Ltd leads p/bv at 0.64×.
LeaderK C P Ltd · 3.4×
Gap24.4% versus #2 · Rain Industries Ltd
Persistence0/8 recent comparable periods
Coverage25/26 companies · 464 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.
EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.
EV/EBITDAlowest EV/EBITDA
1K C P Ltd KCP⚠ unverified3.4
2Rain Industries Ltd RAIN4.5
3Saurashtra Cement Ltd SAURASHCEM⚠ unverified4.5
4Orient Cement Ltd ORIENTCEM4.9
5NCL Industries Ltd NCLIND⚠ unverified5.0
P/BVlowest P/BV
1Saurashtra Cement Ltd SAURASHCEM⚠ unverified0.6
2NCL Industries Ltd NCLIND⚠ unverified0.9
3Birla Corporation Ltd BIRLACORPN1.0
4Rain Industries Ltd RAIN1.0
5Deccan Cements Ltd DECCANCE⚠ unverified1.0
Enterprise and book valuation · company comparison
25/26 level · 26/26 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | EV/EBITDA | P/BV | Reported |
|---|---|---|---|
| Shiva Cement Ltd SHIVACEM | 82.6 | 16.1 | Dec 2025 |
| BIGBLOC Construction Ltd BIGBLOC⚠ unverified | 34.3 | 4.6 | Mar 2026 |
| Deccan Cements Ltd DECCANCE⚠ unverified | 29.6 | 1.1 | Mar 2026 |
| India Cements Ltd INDIACEM | 26.7 | 1.2 | Jun 2026 |
| Shree Digvijay Cement Co. Ltd SHREDIGCEM⚠ unverified | 21.9 | 3.1 | Jun 2026 |
| UltraTech Cement Ltd ULTRACEMCO | 20.5 | 4.4 | Jun 2026 |
| J K Cements Ltd JKCEMENT | 18.6 | 7.1 | Jun 2026 |
| The Ramco Cements Ltd RAMCOCEM | 18.3 | 2.9 | Mar 2026 |
| Shree Cement Ltd SHREECEM | 16.2 | 3.8 | Mar 2026 |
| JSW Cement Ltd JSWCEMENT | 14.3 | 2.5 | Mar 2026 |
| Sagar Cements Ltd SAGCEM | 13.6 | 1.2 | Mar 2026 |
| Ambuja Cements Ltd AMBUJACEM | 12.5 | 1.8 | Mar 2026 |
| Dalmia Bharat Ltd DALBHARAT | 12.3 | 1.8 | Jun 2026 |
| Mangalam Cement Ltd MANGLMCEM | 10.6 | 2.4 | Mar 2026 |
| Prism Johnson Ltd PRSMJOHNSN | 10.2 | 4.3 | Mar 2026 |
| Star Cement Ltd STARCEMENT | 9.8 | 2.8 | Mar 2026 |
| HeidelbergCement India Ltd HEIDELBERG | 9.1 | 2.5 | Mar 2026 |
| Nuvoco Vistas Corporation Ltd NUVOCO | 8.4 | 1.1 | Jun 2026 |
| JK Lakshmi Cement Ltd JKLAKSHMI | 8.0 | 2.0 | Mar 2026 |
| ACC Ltd ACC | 7.4 | 1.2 | Jun 2026 |
| Birla Corporation Ltd BIRLACORPN | 7.1 | 1.1 | Jun 2026 |
| NCL Industries Ltd NCLIND⚠ unverified | 5.0 | 0.8 | Mar 2026 |
| Orient Cement Ltd ORIENTCEM | 4.9 | 1.3 | Jun 2026 |
| Rain Industries Ltd RAIN | 4.5 | 0.6 | Mar 2026 |
| Saurashtra Cement Ltd SAURASHCEM⚠ unverified | 4.5 | 0.6 | Mar 2026 |
| K C P Ltd KCP⚠ unverified | 3.4 | 1.0 | Mar 2026 |
Full 20-quarter history · every available company
EV/EBITDA · reported quarter history
Showing the 12 largest of 26 companies with a series here. The remaining 14 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
ACC Ltd · ACC
11.8
11.0
9.8
10.7
15.9
21.9
14.1
15.4
19.2
15.6
14.4
13.4
13.0
11.5
8.8
8.5
7.8
7.0
6.7
7.4
Ambuja Cements Ltd · AMBUJACEM
10.7
9.8
7.7
9.8
17.1
21.7
14.1
16.8
16.2
15.7
17.3
20.8
20.1
18.4
15.6
15.9
14.6
14.1
12.5
—
Dalmia Bharat Ltd · DALBHARAT
14.3
13.0
10.9
11.0
13.4
17.2
16.2
15.0
16.0
14.4
11.9
13.3
13.2
13.2
15.3
18.3
16.4
15.2
12.9
12.3
India Cements Ltd · INDIACEM
10.7
12.3
15.2
15.5
28.8
54.8
49.7
—
—
—
—
75.8
102.4
116.0
—
—
—
72.8
37.5
26.7
J K Cements Ltd · JKCEMENT
14.4
16.7
12.4
11.3
15.3
17.3
18.3
21.4
20.4
21.2
18.1
17.4
17.6
19.2
21.8
24.4
22.3
19.1
16.8
18.6
JSW Cement Ltd · JSWCEMENT
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
31.1
27.5
14.3
—
Nuvoco Vistas Corporation Ltd · NUVOCO
18.2
12.8
11.9
11.5
14.4
14.8
13.9
14.7
14.3
13.4
10.3
10.6
10.6
11.6
11.8
12.2
12.0
10.9
8.8
8.4
Rain Industries Ltd · RAIN
5.6
5.4
5.5
4.3
4.0
3.8
3.3
3.7
4.4
5.3
11.8
12.7
18.6
21.1
7.4
7.6
7.1
6.1
4.5
—
Shree Cement Ltd · SHREECEM
22.1
20.5
18.8
16.3
20.3
24.8
28.0
25.8
25.2
25.9
20.6
20.2
18.9
19.7
24.8
25.0
20.9
18.0
16.2
—
Star Cement Ltd · STARCEMENT
10.2
8.8
8.9
7.9
9.4
9.9
8.9
10.2
11.3
13.0
15.8
14.2
14.8
17.6
17.8
14.8
15.1
12.1
9.8
—
The Ramco Cements Ltd · RAMCOCEM
15.3
16.6
14.1
13.2
18.0
20.4
19.7
21.0
20.5
19.6
15.1
15.0
15.9
18.8
19.1
23.3
20.9
20.9
18.3
—
UltraTech Cement Ltd · ULTRACEMCO
17.4
17.3
15.6
14.8
16.4
19.6
21.3
22.5
22.3
26.5
22.9
25.5
26.2
26.2
27.5
27.9
25.7
23.7
21.1
20.5
P/BV · reported quarter history
Showing the 12 largest of 26 companies with a series here. The remaining 14 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
ACC Ltd · ACC
3.2
3.3
2.7
2.8
3.3
3.3
2.2
2.4
2.7
2.8
3.2
3.0
2.9
2.3
2.2
1.9
1.9
1.6
1.2
1.2
Ambuja Cements Ltd · AMBUJACEM
3.3
3.3
2.6
2.8
4.0
4.1
2.9
3.3
2.7
3.1
2.9
3.5
3.4
2.7
2.6
2.6
2.6
2.4
1.8
—
Dalmia Bharat Ltd · DALBHARAT
3.0
2.4
1.8
1.5
2.0
2.3
2.3
2.6
2.9
2.7
2.3
2.1
2.2
1.9
1.9
2.4
2.4
2.3
2.0
1.8
India Cements Ltd · INDIACEM
1.0
1.0
1.1
0.9
1.4
1.1
1.0
1.1
1.2
1.4
1.2
1.6
2.0
2.2
1.6
1.9
1.2
1.4
1.1
1.2
J K Cements Ltd · JKCEMENT
6.5
6.6
4.4
4.3
4.5
5.0
5.2
6.0
5.2
6.0
6.5
6.3
6.7
6.4
6.9
9.1
8.1
6.8
6.1
7.1
JSW Cement Ltd · JSWCEMENT
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
2.7
2.5
—
Nuvoco Vistas Corporation Ltd · NUVOCO
2.2
2.0
1.5
1.2
1.7
1.5
1.4
1.4
1.5
1.5
1.2
1.5
1.4
1.4
1.2
1.4
1.7
1.4
1.2
1.1
Rain Industries Ltd · RAIN
1.3
1.5
1.2
0.8
0.7
0.8
0.8
0.6
0.7
0.6
0.6
0.7
0.8
0.8
0.6
0.8
0.6
0.7
0.6
—
Shree Cement Ltd · SHREECEM
6.9
5.9
5.1
4.4
4.2
4.7
5.4
4.9
4.9
5.3
4.8
5.4
4.6
4.5
5.3
5.4
4.8
4.2
3.8
—
Star Cement Ltd · STARCEMENT
2.1
1.8
1.7
1.7
1.9
2.0
2.1
2.6
2.6
2.8
3.6
3.5
3.0
3.4
3.2
3.2
3.5
3.0
2.8
—
The Ramco Cements Ltd · RAMCOCEM
4.0
3.7
2.7
2.5
2.7
2.5
2.7
3.3
3.1
3.4
2.7
2.9
2.8
3.1
2.9
3.4
3.2
3.3
2.9
—
UltraTech Cement Ltd · ULTRACEMCO
4.9
4.8
4.0
3.6
3.5
3.9
4.4
4.8
4.4
5.4
5.0
6.2
5.7
5.4
5.4
5.8
5.0
4.8
4.5
4.4
09 · let price answer last
Market action
Rain Industries Ltd has the strongest one-year price move in Cement at +37.8%. It also leads on Mansfield relative strength against NIFTY at +42.1%. 3 of 25 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.
Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.
Price and relative strength
Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.
Before the conclusion · check the blind spots
What can make this comparison misleading?
This Cement comparison names 8 specific ways its own evidence can mislead, all listed below. 1 of the 26 companies reports on an older date than the sector's freshest reporters, so its rank is marked stale. 6 draw at least one figure from a second feed with too little overlap to cross-check.
Keep these limits visible
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.
- 6 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear.
- 6 companies are missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
- Thin comparisons: Capital expenditure have fewer than three usable current readings.
10 · the complete set
Which companies are included?
All 26 companies in the canonical Cement membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. 1 of these is no longer being priced, so its price and relative strength are frozen at the last traded week shown.
AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.
| Company | Market value | Price | Priced to | Latest fundamentals | Source standing |
|---|---|---|---|---|---|
| UltraTech Cement Ltd ULTRACEMCO | ₹3.5 L Cr | ₹11,846 | 2026-07-19 | Jun 2026 | Cross-checked |
| Ambuja Cements Ltd AMBUJACEM | ₹1.1 L Cr | ₹425 | 2026-07-19 | Mar 2026 | Second feed withheld |
| Shree Cement Ltd SHREECEMAHEAD | ₹96.5K Cr | ₹26,740 | 2026-07-19 | Mar 2026 | Cross-checked |
| J K Cements Ltd JKCEMENT | ₹43.6K Cr | ₹5,649 | 2026-07-19 | Jun 2026 | Cross-checked |
| Dalmia Bharat Ltd DALBHARAT | ₹34.0K Cr | ₹1,811 | 2026-07-19 | Jun 2026 | Cross-checked |
| ACC Ltd ACC | ₹25.2K Cr | ₹1,341 | 2026-07-19 | Jun 2026 | Cross-checked |
| The Ramco Cements Ltd RAMCOCEM | ₹21.6K Cr | ₹915 | 2026-07-19 | Mar 2026 | Cross-checked |
| JSW Cement Ltd JSWCEMENTAHEAD22/26 WEEKS | ₹18.0K Cr | ₹132 | 2026-07-19 | Mar 2026 | Second feed withheld |
| Nuvoco Vistas Corporation Ltd NUVOCOAHEAD | ₹12.7K Cr | ₹356 | 2026-07-19 | Jun 2026 | Cross-checked |
| India Cements Ltd INDIACEM | ₹12.6K Cr | ₹407 | 2026-07-19 | Jun 2026 | Cross-checked |
| Star Cement Ltd STARCEMENT | ₹8.3K Cr | ₹205 | 2026-07-19 | Mar 2026 | Cross-checked |
| Rain Industries Ltd RAINAHEAD18/26 WEEKS | ₹7.6K Cr | ₹225 | 2026-07-19 | Mar 2026 | Second feed withheld |
| Birla Corporation Ltd BIRLACORPNLAGGING, FUNDAMENTALS UP | ₹7.4K Cr | ₹957 | 2026-07-19 | Jun 2026 | Cross-checked |
| JK Lakshmi Cement Ltd JKLAKSHMILAGGING, FUNDAMENTALS UP | ₹7.1K Cr | ₹572 | 2026-07-19 | Mar 2026 | Second feed withheld |
| Prism Johnson Ltd PRSMJOHNSN | ₹5.4K Cr | ₹108 | 2026-07-19 | Mar 2026 | Second feed withheld |
| HeidelbergCement India Ltd HEIDELBERGLAGGING, FUNDAMENTALS UP | ₹3.5K Cr | ₹156 | 2026-07-19 | Mar 2026 | Cross-checked |
| Orient Cement Ltd ORIENTCEM | ₹2.7K Cr | ₹134 | 2026-07-19 | Jun 2026 | Cross-checked |
| Mangalam Cement Ltd MANGLMCEMAHEAD20/26 WEEKS | ₹2.7K Cr | ₹984 | 2026-07-19 | Mar 2026 | Cross-checked |
| Sagar Cements Ltd SAGCEM | ₹2.3K Cr | ₹178 | 2026-07-19 | Mar 2026 | Second feed withheld |
| K C P Ltd KCPLAGGING, FUNDAMENTALS UP⚠ unverified | ₹2.1K Cr | ₹163 | 2026-07-19 | Mar 2026 | Includes unverified figures |
| Shree Digvijay Cement Co. Ltd SHREDIGCEM⚠ unverified | ₹1.1K Cr | ₹76.2 | 2026-07-19 | Jun 2026 | Includes unverified figures |
| NCL Industries Ltd NCLINDAHEAD⚠ unverified | ₹835 Cr | ₹185 | 2026-07-19 | Mar 2026 | Includes unverified figures |
| Deccan Cements Ltd DECCANCELAGGING, FUNDAMENTALS UP⚠ unverified | ₹776 Cr | ₹554 | 2026-07-19 | Mar 2026 | Includes unverified figures |
| BIGBLOC Construction Ltd BIGBLOC⚠ unverified | ₹676 Cr | ₹47.8 | 2026-07-19 | Mar 2026 | Includes unverified figures |
| Saurashtra Cement Ltd SAURASHCEMLAGGING, FUNDAMENTALS UP⚠ unverified | ₹619 Cr | ₹55.7 | 2026-07-19 | Mar 2026 | Includes unverified figures |
| Shiva Cement Ltd SHIVACEM | ₹517 Cr | ₹17.5 | 2026-03-08 · not currently priced | Dec 2025 | Primary source only |
How each company's sources stand: 6 of 26 companies draw at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear. 6 of 26 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Ambuja Cements Ltd (AMBUJACEM) — its two data sources disagree by up to 49% on reported income across 14 comparable periods, so its derived ratios are withheld; JSW Cement Ltd (JSWCEMENT) — its two data sources disagree by up to 111% on reported income across 8 comparable periods, so its derived ratios are withheld; Rain Industries Ltd (RAIN) — its two data sources disagree by up to 72% on reported income across 15 comparable periods, so its derived ratios are withheld; JK Lakshmi Cement Ltd (JKLAKSHMI) — its two data sources disagree by up to 53% on reported income across 14 comparable periods, so its derived ratios are withheld; Prism Johnson Ltd (PRSMJOHNSN) — its two data sources disagree by up to 131% on reported income across 13 comparable periods, so its derived ratios are withheld; Sagar Cements Ltd (SAGCEM) — its two data sources disagree by up to 75% on reported income across 14 comparable periods, so its derived ratios are withheld.
Evidence and freshness
How was this comparison built?
This comparison is built from the reported filings of 26 Cement companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-24. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.
FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-24 · weekly price and relative-strength history
Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing13 cross-checked · 7 unverified · 6 withheld, of 26 graded companies.
A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from. Every company's standing is listed in the register above.
Questions investors ask · short, speakable answers
Cement company comparison FAQs
These 18 answers restate the Cement comparison above in question form. Every one is computed from the same 26 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-24. Nothing here is estimated, and none of it is a recommendation.
What is the Nifty Cement index?
The Nifty Cement index tracks India's listed Cement companies as a single basket. This page follows the same 26 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Cement sector rather than to its largest constituent. Figures are as of Jun 2026.
Which are the best Cement stocks in India?
Ranked by this page's four-factor score, Star Cement Ltd places first among 26 listed Cement companies, followed by NCL Industries Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.
How many Cement stocks are listed in India?
This comparison covers 26 listed Cement companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.
Which Cement company is the biggest?
UltraTech Cement Ltd is the largest, with trailing-twelve-month revenue of ₹91,884 crore, ahead of Ambuja Cements Ltd at ₹40,655 crore. That covers 26 of 26 companies with comparable reporting through Jun 2026.
Which Cement company is growing fastest?
BIGBLOC Construction Ltd has the fastest revenue growth at 26.2% year on year, across 26 of 26 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.
Which Cement company has the best profit margins?
Star Cement Ltd has the highest operating margin at 27%, from 26 of 26 comparable companies. Shiva Cement Ltd shows the biggest recent improvement, at +15 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.
Which Cement company makes the most profit?
UltraTech Cement Ltd earns the most, at ₹8,571 crore of trailing-twelve-month net profit, from 26 of 26 comparable companies. Deccan Cements Ltd has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.
Which Cement company earns the highest return on capital?
Star Cement Ltd leads on return on capital employed at 16.7%, across 26 of 26 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.
Which Cement stock is the cheapest?
On guarded PEG — where a LOWER number is cheaper — Orient Cement Ltd screens cheapest at 0.25×. Only 12 of 26 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.
Which Cement company has the strongest balance sheet?
HeidelbergCement India Ltd carries the lowest comparable gross debt at ₹14 crore, from 26 of 26 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.
Which Cement stock has the strongest price momentum?
Rain Industries Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.
Which Cement company scores highest for research priority?
Star Cement Ltd scores 74.3 out of 100 with 86.8% evidence confidence, from 29.1 points on growth and earnings, 21.2 on capital efficiency, 11.9 on valuation and 12.1 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.
How many Cement companies does this comparison cover, and over what period?
It compares 26 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.
What is the total market cap of the Cement sector?
The 26 Cement companies on this page carry ₹7,72,686 crore of combined market value. UltraTech Cement Ltd is the largest at ₹3,49,077 crore, about 45% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.
What is the Cement sector's P/E ratio?
The median price-to-earnings ratio across the 26 Cement companies on this page is 27.6×, measured on the 22 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-29.
How is the Cement sector performing?
3 of the 25 covered Cement companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-07-29.
Why are some values on this page blank?
A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.
Is this investment advice?
No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.