Sector Alpha Week of 2026-08-05
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.

01 · the index people search for

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.

02 · the sector itself · before any single company

How has Cement moved against NIFTY 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 23% behind NIFTY 500. Earnings across its companies grew 36% on average over the last four reported quarters.

ASLEEP · 1y −23.1%~Fundamentals up, price down4 of 26 companies ahead of NIFTY 500 by 5% or more over three months8 are 20% or more behind over a year while earnings grew 20% or more

RS — · 6/26 >200d (+1) · 4/26 lead (−7) · EPS 15/26↑

20030020262025202420232022 235333 TRAILING 12-MONTH EPS · 100 AT THE START0100132Jun 22Dec 22Jun 23Dec 23Jun 24Dec 24Jun 25Dec 25Jun 26Jun 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 8 reporting · thin coverageSep 2022 · trailing 12-month earnings per share at 69, against 100 at the start · no comparable year yet · 9 reporting · thin coverageDec 2022 · trailing 12-month earnings per share at 61, against 100 at the start · no comparable year yet · 9 reporting · thin coverageMar 2023 · trailing 12-month earnings per share at 42, against 100 at the start · no comparable year yet · 9 reporting · thin coverageJun 2023 · trailing 12-month earnings per share at 56, against 100 at the start · down 51.9% on a year ago · 10 reporting · thin coverageSep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · up 8.1% on a year ago · 21 reportingDec 2023 · trailing 12-month earnings per share at 114, against 100 at the start · up 34.6% on a year ago · 21 reportingMar 2024 · trailing 12-month earnings per share at 123, against 100 at the start · up 79.0% on a year ago · 21 reportingJun 2024 · trailing 12-month earnings per share at 108, against 100 at the start · up 55.6% on a year ago · 21 reportingSep 2024 · trailing 12-month earnings per share at 88, against 100 at the start · down 6.9% on a year ago · 21 reportingDec 2024 · trailing 12-month earnings per share at 64, against 100 at the start · down 38.1% on a year ago · 21 reportingMar 2025 · trailing 12-month earnings per share at 63, against 100 at the start · down 38.9% on a year ago · 22 reportingJun 2025 · trailing 12-month earnings per share at 91, against 100 at the start · down 2.9% on a year ago · 22 reportingSep 2025 · trailing 12-month earnings per share at 121, against 100 at the start · up 44.0% on a year ago · 22 reportingDec 2025 · trailing 12-month earnings per share at 120, against 100 at the start · up 44.7% on a year ago · 22 reportingMar 2026 · trailing 12-month earnings per share at 132, against 100 at the start · up 55.3% on a year ago · 22 reportingJun 2026 · trailing 12-month earnings per share at 119, against 100 at the start · down 0.2% on a year ago · 11 reporting · thin coverageNot reported yet — earnings trail price by a quarter or two119No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
20030020262025202420232022 235333 TRAILING 12-MONTH EPS · 100 AT THE START0100132Jun 22Jun 23Jun 24Jun 25Jun 26Jun 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 8 reporting · thin coverageSep 2022 · trailing 12-month earnings per share at 69, against 100 at the start · no comparable year yet · 9 reporting · thin coverageDec 2022 · trailing 12-month earnings per share at 61, against 100 at the start · no comparable year yet · 9 reporting · thin coverageMar 2023 · trailing 12-month earnings per share at 42, against 100 at the start · no comparable year yet · 9 reporting · thin coverageJun 2023 · trailing 12-month earnings per share at 56, against 100 at the start · down 51.9% on a year ago · 10 reporting · thin coverageSep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · up 8.1% on a year ago · 21 reportingDec 2023 · trailing 12-month earnings per share at 114, against 100 at the start · up 34.6% on a year ago · 21 reportingMar 2024 · trailing 12-month earnings per share at 123, against 100 at the start · up 79.0% on a year ago · 21 reportingJun 2024 · trailing 12-month earnings per share at 108, against 100 at the start · up 55.6% on a year ago · 21 reportingSep 2024 · trailing 12-month earnings per share at 88, against 100 at the start · down 6.9% on a year ago · 21 reportingDec 2024 · trailing 12-month earnings per share at 64, against 100 at the start · down 38.1% on a year ago · 21 reportingMar 2025 · trailing 12-month earnings per share at 63, against 100 at the start · down 38.9% on a year ago · 22 reportingJun 2025 · trailing 12-month earnings per share at 91, against 100 at the start · down 2.9% on a year ago · 22 reportingSep 2025 · trailing 12-month earnings per share at 121, against 100 at the start · up 44.0% on a year ago · 22 reportingDec 2025 · trailing 12-month earnings per share at 120, against 100 at the start · up 44.7% on a year ago · 22 reportingMar 2026 · trailing 12-month earnings per share at 132, against 100 at the start · up 55.3% on a year ago · 22 reportingJun 2026 · trailing 12-month earnings per share at 119, against 100 at the start · down 0.2% on a year ago · 11 reporting · thin coverageNot reported yet — earnings trail price by a quarter or twoNo earnings on file this far back — the price series reaches further than the filings do
Cement, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

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 26 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.

03 · sector relative strength, before individual stocks

Is Cement outperforming NIFTY 500?

Cement has underperformed NIFTY 500 by 21.9% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 1.2%. 2 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 +61.8%. Readings are as of 2026-07-19.

-1.2%Sector vs NIFTY 500 · 13 weeks
-21.9%Sector vs NIFTY 500 · 52 weeks
2/25Stocks 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

Cement has underperformed NIFTY 500 by 21.9% over 52 weeks and 1.2% over 13 weeks. 2 of 25 covered companies beat NIFTY on Mansfield relative strength, while 12 of 25 beat the sector itself. UltraTech Cement Ltd leads with revenue of ₹91,884 crore, based on 26 of 26 comparable companies through Jun 2026.

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
2/25
positive Mansfield relative strength
Comparing 5 of 26
04 · 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 89.6% 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.
Shree Cement Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Star Cement LtdSTARCEMENT 76.0/100Favorable setup90% evidence ASLEEP 29.9/35 Revenue 19.4% · PAT 100% · OPM change 2 pp 88% evidence 22.4/25 ROCE 16.7% · OPM 27% 100% evidence 11.3/20 P/E 20.4× · PEG 1.11 100% evidence 12.4/20 RS sector 13.8% · RS bench -13.2% · 1Y -12.5%1 of 10 weeks ahead 70% evidence
Exact sum: 29.9 + 22.4 + 11.3 + 12.4 = 76 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2NCL Industries LtdNCLIND 69.7/100Favorable setup83% evidence FADING 25.3/35 Revenue 1.8% · PAT 100% · OPM change 7 pp 83% evidence 18.0/25 ROCE 14.5% · OPM 13% 95% evidence 15.0/20 P/E 6.3× · PEG — 50% evidence 11.4/20 RS sector 2.1% · RS bench -6.3% · 1Y -18.8%2 of 12 weeks ahead 100% evidence
Exact sum: 25.3 + 18 + 15 + 11.4 = 69.7 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
3UltraTech Cement LtdULTRACEMCO 63.1/100Mixed-positive evidence76% evidence TURNING 21.9/35 Revenue 17.2% · PAT 26.7% · OPM change -1 pp 95% evidence 17.1/25 ROCE 12.7% · OPM 20% 76% evidence 9.2/20 P/E 40.7× · PEG — 50% evidence 14.9/20 RS sector 17% · RS bench -1.4% · 1Y -2.8%0 of 10 weeks ahead 70% evidence
Exact sum: 21.9 + 17.1 + 9.2 + 14.9 = 63.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Mangalam Cement LtdMANGLMCEM 62.9/100Mixed-positive evidence96% evidence FADING 21.6/35 Revenue 4.6% · PAT 100% · OPM change 0 pp 88% evidence 11.7/25 ROCE 11% · OPM 11% 100% evidence 16.0/20 P/E 17.5× · PEG 0.6 100% evidence 13.6/20 RS sector 24.1% · RS bench 14.9% · 1Y 31.3%5 of 12 weeks ahead 100% evidence
Exact sum: 21.6 + 11.7 + 16 + 13.6 = 62.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Rain Industries LtdRAIN 62.5/100Mixed-positive evidence64% evidence BREAKING OUT 22.9/35 Revenue 14.4% · PAT 100% · OPM change 5 pp 62% evidence 9.4/25 ROCE 8.3% · OPM 15% 76% evidence 10.2/20 P/E 24.9× · PEG — 15% evidence 20.0/20 RS sector 61.8% · RS bench 49.7% · 1Y 43.6%12 of 12 weeks ahead 100% evidence
Exact sum: 22.9 + 9.4 + 10.2 + 20 = 62.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6Orient Cement LtdORIENTCEM 58.2/100Mixed-positive evidence93% evidence ASLEEP 17.6/35 Revenue -12.1% · PAT -19.3% · OPM change 3 pp 100% evidence 16.9/25 ROCE 16.5% · OPM 24% 100% evidence 16.1/20 P/E 13.2× · PEG 0.25 65% evidence 7.6/20 RS sector -12% · RS bench -20.1% · 1Y -45.9%0 of 12 weeks ahead 100% evidence
Exact sum: 17.6 + 16.9 + 16.1 + 7.6 = 58.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Dalmia Bharat LtdDALBHARAT 53.4/100Mixed-positive evidence94% evidence ASLEEP 13.0/35 Revenue 7.6% · PAT 0.4% · OPM change -3 pp 100% evidence 12.8/25 ROCE 7.6% · OPM 21% 100% evidence 15.3/20 P/E 30.7× · PEG 0.72 100% evidence 12.3/20 RS sector 12.6% · RS bench -11.9% · 1Y -19.3%0 of 10 weeks ahead 70% evidence
Exact sum: 13 + 12.8 + 15.3 + 12.3 = 53.4 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
8Shree Cement LtdSHREECEM 51.8/100Mixed-positive evidence97% evidence BREAKING OUT 15.0/35 Revenue 12.6% · PAT 9.9% · OPM change -5 pp 95% evidence 13.0/25 ROCE 10.3% · OPM 20% 95% evidence 9.2/20 P/E 57.7× · PEG 0.96 100% evidence 14.6/20 RS sector 5.1% · RS bench -3.7% · 1Y -15.8%3 of 12 weeks ahead 100% evidence
Exact sum: 15 + 13 + 9.2 + 14.6 = 51.8 · Decision use: Price leads the evidence: RS versus the benchmark is -3.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
9JSW Cement LtdJSWCEMENT 50.8/100Thin evidence · provisional51% evidence TURNING 18.6/35 Revenue 12% · PAT -80% · OPM change 5 pp 83% evidence 12.1/25 ROCE 11.1% · OPM 19% 76% evidence 10.1/20 P/E 27.8× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y -8.9%5 of 10 weeks ahead 0% evidence
Exact sum: 18.6 + 12.1 + 10.1 + 10 = 50.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
10K C P LtdKCP 49.4/100Mixed-negative evidence77% evidence ASLEEP 13.5/35 Revenue 1.9% · PAT 8.7% · OPM change 1 pp 83% evidence 16.1/25 ROCE 12.2% · OPM 17% 95% evidence 13.9/20 P/E 10.3× · PEG — 50% evidence 5.9/20 RS sector -14% · RS bench -9.4% · 1Y -23.5%3 of 11 weeks ahead 70% evidence
Exact sum: 13.5 + 16.1 + 13.9 + 5.9 = 49.4 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
11HeidelbergCement India LtdHEIDELBERG 48.6/100Mixed-negative evidence100% evidence ASLEEP 14.5/35 Revenue 6.6% · PAT 2.6% · OPM change -4 pp 100% evidence 14.7/25 ROCE 14.7% · OPM 11% 100% evidence 13.7/20 P/E 28.5× · PEG 0.82 100% evidence 5.7/20 RS sector -5.1% · RS bench -13.3% · 1Y -28.1%0 of 12 weeks ahead 100% evidence
Exact sum: 14.5 + 14.7 + 13.7 + 5.7 = 48.6 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
12J K Cements LtdJKCEMENT 48.1/100Mixed-negative evidence94% evidence TURNING 11.2/35 Revenue 15.9% · PAT -7.1% · OPM change -5 pp 100% evidence 16.4/25 ROCE 15.1% · OPM 16% 100% evidence 8.1/20 P/E 43.1× · PEG 1.46 100% evidence 12.4/20 RS sector 10.4% · RS bench -7.1% · 1Y -16%0 of 10 weeks ahead 70% evidence
Exact sum: 11.2 + 16.4 + 8.1 + 12.4 = 48.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13The Ramco Cements LtdRAMCOCEM 47.3/100Mixed-negative evidence90% evidence ASLEEP 20.6/35 Revenue 6% · PAT 100% · OPM change 1 pp 88% evidence 13.2/25 ROCE 6.1% · OPM 14% 100% evidence 1.2/20 P/E 732× · PEG 4.14 100% evidence 12.3/20 RS sector 11.1% · RS bench -10.1% · 1Y -19.7%0 of 10 weeks ahead 70% evidence
Exact sum: 20.6 + 13.2 + 1.2 + 12.3 = 47.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
14JK Lakshmi Cement LtdJKLAKSHMI 47.3/100Mixed-negative evidence65% evidence ASLEEP 17.4/35 Revenue 9.2% · PAT 49.6% · OPM change -5 pp 83% evidence 13.9/25 ROCE 12% · OPM 14% 76% evidence 10.6/20 P/E 17.6× · PEG — 15% evidence 5.4/20 RS sector -8.2% · RS bench -23.6% · 1Y -40.3%0 of 10 weeks ahead 70% evidence
Exact sum: 17.4 + 13.9 + 10.6 + 5.4 = 47.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15Nuvoco Vistas Corporation LtdNUVOCO 47.1/100Mixed-negative evidence87% evidence TURNING 21.0/35 Revenue 9.5% · PAT 100% · OPM change 0 pp 100% evidence 9.6/25 ROCE 7.1% · OPM 18% 100% evidence 4.8/20 P/E 29.7× · PEG 8.14 65% evidence 11.7/20 RS sector 3.6% · RS bench -5% · 1Y -16.5%4 of 10 weeks ahead 70% evidence
Exact sum: 21 + 9.6 + 4.8 + 11.7 = 47.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16India Cements LtdINDIACEM 45.4/100Mixed-negative evidence75% evidence ASLEEP 21.3/35 Revenue 7% · PAT 100% · OPM change 7 pp 74% evidence 3.8/25 ROCE 1.2% · OPM 15% 100% evidence 5.4/20 P/E 91.4× · PEG — 50% evidence 14.9/20 RS sector 20% · RS bench -2% · 1Y 10.8%0 of 10 weeks ahead 70% evidence
Exact sum: 21.3 + 3.8 + 5.4 + 14.9 = 45.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17Deccan Cements LtdDECCANCE 43.7/100Mixed-negative evidence70% evidence ASLEEP 22.6/35 Revenue 20.6% · PAT 100% · OPM change -3 pp 83% evidence 7.9/25 ROCE 3.3% · OPM 8.1% 95% evidence 9.1/20 P/E 43.4× · PEG — 15% evidence 4.1/20 RS sector -12.9% · RS bench -29.1% · 1Y -47.7%0 of 10 weeks ahead 70% evidence
Exact sum: 22.6 + 7.9 + 9.1 + 4.1 = 43.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
18ACC LtdACC 42.5/100Mixed-negative evidence94% evidence ASLEEP 9.1/35 Revenue 11.6% · PAT -21.1% · OPM change -5 pp 100% evidence 9.9/25 ROCE 11.2% · OPM 8% 100% evidence 16.7/20 P/E 13.4× · PEG 0.92 100% evidence 6.8/20 RS sector -6.7% · RS bench -16.8% · 1Y -26.5%0 of 10 weeks ahead 70% evidence
Exact sum: 9.1 + 9.9 + 16.7 + 6.8 = 42.5 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
19Birla Corporation LtdBIRLACORPN 41.0/100Mixed-negative evidence94% evidence ASLEEP 17.4/35 Revenue 3.9% · PAT 44.6% · OPM change -1 pp 100% evidence 10.4/25 ROCE 9.8% · OPM 13% 100% evidence 8.8/20 P/E 12.3× · PEG 3.92 100% evidence 4.4/20 RS sector -14% · RS bench -17.4% · 1Y -37.4%3 of 9 weeks ahead 70% evidence
Exact sum: 17.4 + 10.4 + 8.8 + 4.4 = 41 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20Sagar Cements LtdSAGCEM 41.0/100Mixed-negative evidence66% evidence ASLEEP 19.5/35 Revenue 13.4% · PAT 79.7% · OPM change -8 pp 95% evidence 5.1/25 ROCE 2% · OPM 10% 76% evidence 10.0/20 P/E — · PEG — 0% evidence 6.4/20 RS sector -8.1% · RS bench -16.3% · 1Y -28.1%0 of 10 weeks ahead 70% evidence
Exact sum: 19.5 + 5.1 + 10 + 6.4 = 41 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
21Ambuja Cements LtdAMBUJACEM 38.9/100Mixed-negative evidence82% evidence ASLEEP 9.4/35 Revenue 7.1% · PAT -5.9% · OPM change -2 pp 95% evidence 11.0/25 ROCE 5.6% · OPM 17% 76% evidence 12.6/20 P/E 22.8× · PEG — 50% evidence 5.9/20 RS sector -7.2% · RS bench -15.1% · 1Y -29.5%0 of 12 weeks ahead 100% evidence
Exact sum: 9.4 + 11 + 12.6 + 5.9 = 38.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
22Saurashtra Cement LtdSAURASHCEM 38.8/100Mixed-negative evidence76% evidence ASLEEP 19.7/35 Revenue 8.4% · PAT 87.5% · OPM change -5 pp 83% evidence 4.8/25 ROCE 2.5% · OPM 6% 95% evidence 9.5/20 P/E 30.9× · PEG — 15% evidence 4.8/20 RS sector -16.6% · RS bench -24.6% · 1Y -41.9%0 of 12 weeks ahead 100% evidence
Exact sum: 19.7 + 4.8 + 9.5 + 4.8 = 38.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
23Prism Johnson LtdPRSMJOHNSN 38.2/100Mixed-negative evidence69% evidence ASLEEP 12.1/35 Revenue 6.3% · PAT -33.3% · OPM change -2 pp 83% evidence 5.9/25 ROCE 5.9% · OPM 8% 76% evidence 8.6/20 P/E — · PEG — 35% evidence 11.6/20 RS sector 14.3% · RS bench -20.9% · 1Y -32.2%1 of 10 weeks ahead 70% evidence
Exact sum: 12.1 + 5.9 + 8.6 + 11.6 = 38.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
24BIGBLOC Construction LtdBIGBLOC 36.7/100Thin evidence · provisional59% evidence ASLEEP 15.4/35 Revenue 26.2% · PAT -80% · OPM change -1.6 pp 62% evidence 5.8/25 ROCE 1.8% · OPM 7.3% 95% evidence 10.0/20 P/E — · PEG — 0% evidence 5.5/20 RS sector -9.7% · RS bench -17.9% · 1Y -24.7%3 of 10 weeks ahead 70% evidence
Exact sum: 15.4 + 5.8 + 10 + 5.5 = 36.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
25Shree Digvijay Cement Co. LtdSHREDIGCEM 31.2/100Adverse evidence81% evidence ASLEEP 10.8/35 Revenue 19.6% · PAT -35% · OPM change -3.5 pp 95% evidence 8.2/25 ROCE 6.4% · OPM 8.7% 95% evidence 6.1/20 P/E 59.4× · PEG — 50% evidence 6.1/20 RS sector -12.4% · RS bench -10.9% · 1Y -15.8%4 of 10 weeks ahead 70% evidence
Exact sum: 10.8 + 8.2 + 6.1 + 6.1 = 31.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
26Shiva Cement LtdSHIVACEM 36.5/100Thin evidence · provisional42% evidence 18.1/35 Revenue 19.7% · PAT -47.1% · OPM change 15 pp 40% evidence 5.4/25 ROCE -3% · OPM 1% 57% evidence 10.0/20 P/E — · PEG — 0% evidence 3.0/20 RS sector -27.5% · RS bench -36.4% · 1Y -54.1%0 of 12 weeks ahead to 2026-03-08 70% evidence
Exact sum: 18.1 + 5.4 + 10 + 3 = 36.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
Showing 10 of 26 companies
05 · what price has already done

Market action

Rain Industries Ltd has the strongest one-year price move in Cement at +43.6%. It also leads on Mansfield relative strength against NIFTY at +49.7%. 2 of 25 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-31.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

06 · 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 ₹39,867 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, 130.5% 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
Gap130.5% versus #2 · Ambuja Cements Ltd
Persistence8/8 recent comparable periods
Coverage26/26 companies · 425 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₹39.9K Cr
3ACC Ltd ACC₹25.4K Cr
4Shree Cement Ltd SHREECEM₹21.9K 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

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyRevenueRevenue growthReported
UltraTech Cement Ltd ULTRACEMCO₹24.6K Cr16%Jun 2026
Ambuja Cements Ltd AMBUJACEM₹9.5K Cr-7.7%Jun 2026
Shree Cement Ltd SHREECEM₹6.2K Cr18%Jun 2026
ACC Ltd ACC₹5.8K Cr-4.6%Jun 2026
Rain Industries Ltd RAIN₹4.5K Cr20%Mar 2026
J K Cements Ltd JKCEMENT₹4.0K Cr20%Jun 2026
Dalmia Bharat Ltd DALBHARAT₹3.9K Cr7.0%Jun 2026
Nuvoco Vistas Corporation Ltd NUVOCO₹3.1K Cr8.9%Jun 2026
Birla Corporation Ltd BIRLACORPN₹2.6K Cr7.8%Jun 2026
The Ramco Cements Ltd RAMCOCEM₹2.6K Cr8.9%Mar 2026
Prism Johnson Ltd PRSMJOHNSN₹2.1K Cr7.7%Mar 2026
JK Lakshmi Cement Ltd JKLAKSHMI₹1.9K Cr0.2%Mar 2026
JSW Cement Ltd JSWCEMENT₹1.9K Cr11%Mar 2026
Star Cement Ltd STARCEMENT₹1.2K Cr12%Mar 2026
India Cements Ltd INDIACEM₹1.0K Cr-0.6%Jun 2026
Sagar Cements Ltd SAGCEM₹706 Cr5.2%Jun 2026
K C P Ltd KCP⚠ unverified₹684 Cr7.7%Mar 2026
HeidelbergCement India Ltd HEIDELBERG₹628 Cr5.0%Jun 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 Cr6.7%Mar 2026
Shree Digvijay Cement Co. Ltd SHREDIGCEM⚠ unverified₹337 Cr72%Jun 2026
Deccan Cements Ltd DECCANCE⚠ unverified₹214 Cr80%Mar 2026
Shiva Cement Ltd SHIVACEM₹126 Cr117%Dec 2025
BIGBLOC Construction Ltd BIGBLOC⚠ unverified₹87 Cr35%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
₹9.5K 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
₹6.2K 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

—
—
—
—
—
₹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%
-7.7%

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%
18%

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

—
—
—
—
—
—
—
—
—
7.9%
9.4%
6.1%
1.8%
6.2%
13%
13%
20%
23%
12%
16%
07 · 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 · 488 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%
3Dalmia Bharat Ltd DALBHARAT21%
4Shree Cement Ltd SHREECEM20%
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
All-company data · latest reported quarter
CompanyOPMMargin changeReported
Star Cement Ltd STARCEMENT27%+2.0 ppMar 2026
Orient Cement Ltd ORIENTCEM24%+3.0 ppJun 2026
Dalmia Bharat Ltd DALBHARAT21%−3.0 ppJun 2026
UltraTech Cement Ltd ULTRACEMCO20%−1.0 ppJun 2026
Shree Cement Ltd SHREECEM20%−5.0 ppJun 2026
JSW Cement Ltd JSWCEMENT19%+5.0 ppMar 2026
Nuvoco Vistas Corporation Ltd NUVOCO18%0.0 ppJun 2026
Ambuja Cements Ltd AMBUJACEM17%−2.0 ppJun 2026
K C P Ltd KCP⚠ unverified17%+1.0 ppMar 2026
J K Cements Ltd JKCEMENT16%−5.0 ppJun 2026
India Cements Ltd INDIACEM15%+7.0 ppJun 2026
Rain Industries Ltd RAIN15%+5.0 ppMar 2026
The Ramco Cements Ltd RAMCOCEM14%+1.0 ppMar 2026
JK Lakshmi Cement Ltd JKLAKSHMI14%−5.0 ppMar 2026
Birla Corporation Ltd BIRLACORPN13%−1.0 ppJun 2026
NCL Industries Ltd NCLIND⚠ unverified13%+7.0 ppMar 2026
HeidelbergCement India Ltd HEIDELBERG11%−4.0 ppJun 2026
Mangalam Cement Ltd MANGLMCEM11%0.0 ppMar 2026
Sagar Cements Ltd SAGCEM10%−8.0 ppJun 2026
Shree Digvijay Cement Co. Ltd SHREDIGCEM⚠ unverified8.7%−3.5 ppJun 2026
Deccan Cements Ltd DECCANCE⚠ unverified8.1%−3.0 ppMar 2026
ACC Ltd ACC8.0%−5.0 ppJun 2026
Prism Johnson Ltd PRSMJOHNSN8.0%−2.0 ppMar 2026
BIGBLOC Construction Ltd BIGBLOC⚠ unverified7.3%−1.6 ppMar 2026
Saurashtra Cement Ltd SAURASHCEM⚠ unverified6.0%−5.0 ppMar 2026
Shiva Cement Ltd SHIVACEM1.0%+15.0 ppDec 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%
17%

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%
0.6%
0.3%
4.2%
3.0%
-2.4%
-16%
-20%
-0.2%
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%
20%

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
−2.0 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
−2.0 pp
+6.0 pp
+8.9 pp
+6.0 pp
−3.0 pp
−16.3 pp
−24.2 pp
−3.2 pp
+10.4 pp
+23.0 pp
+27.0 pp
+12.2 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
−5.0 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
08 · 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 ₹5,222 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, 64.1% 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
Gap64.1% versus #2 · Ambuja Cements Ltd
Persistence6/8 recent comparable periods
Coverage26/26 companies · 425 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₹5.2K Cr
3ACC Ltd ACC₹1.9K Cr
4Shree Cement Ltd SHREECEM₹1.6K 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 · 22/26 change
All-company data · latest reported quarter
CompanyNet profitProfit growthReported
UltraTech Cement Ltd ULTRACEMCO₹2.6K Cr17%Jun 2026
Ambuja Cements Ltd AMBUJACEM₹660 Cr-37%Jun 2026
Shree Cement Ltd SHREECEM₹531 Cr-18%Jun 2026
JSW Cement Ltd JSWCEMENT₹362 Cr2,163%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 Cr20%Jun 2026
Rain Industries Ltd RAIN₹158 Cr-122%Mar 2026
The Ramco Cements Ltd RAMCOCEM₹151 Cr481%Mar 2026
ACC Ltd ACC₹147 Cr-61%Jun 2026
Star Cement Ltd STARCEMENT₹147 Cr20%Mar 2026
JK Lakshmi Cement Ltd JKLAKSHMI₹125 Cr-29%Mar 2026
K C P Ltd KCP⚠ unverified₹121 Cr70%Mar 2026
Birla Corporation Ltd BIRLACORPN₹116 Cr-3.3%Jun 2026
Orient Cement Ltd ORIENTCEM₹77 Cr-62%Jun 2026
Mangalam Cement Ltd MANGLMCEM₹65 Cr282%Mar 2026
NCL Industries Ltd NCLIND⚠ unverified₹42 Cr500%Mar 2026
HeidelbergCement India Ltd HEIDELBERG₹31 Cr-35%Jun 2026
India Cements Ltd INDIACEM₹27 Cr233%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 Cr52%Mar 2026
Prism Johnson Ltd PRSMJOHNSN₹-16 Cr-113%Mar 2026
Sagar Cements Ltd SAGCEM₹-28 Cr-500%Jun 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
₹660 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
₹531 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

—
—
—
—
—
₹1.1K 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%
33%
364%
-85%
37%
-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%
-18%

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

—
—
—
—
—
—
—
—
—
67%
35%
-12%
-45%
-23%
9.6%
49%
75%
27%
21%
17%
09 · 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 · 269 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

Withheld from this chart: UltraTech Cement Ltd (ULTRACEMCO) — its two data sources disagree by up to 17% on reported income across 15 comparable periods, so its derived ratios are withheld; 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
CompanyROCEROCE changeReported
Star Cement Ltd STARCEMENT15%+7.7 ppMar 2026
J K Cements Ltd JKCEMENT13%−2.5 ppJun 2026
Orient Cement Ltd ORIENTCEM13%+6.1 ppJun 2026
NCL Industries Ltd NCLIND⚠ unverified13%+7.4 ppMar 2026
HeidelbergCement India Ltd HEIDELBERG11%+2.8 ppJun 2026
Shree Cement Ltd SHREECEM10%+0.8 ppJun 2026
Mangalam Cement Ltd MANGLMCEM9.5%+3.3 ppMar 2026
K C P Ltd KCP⚠ unverified9.3%−1.3 ppMar 2026
ACC Ltd ACC8.4%−2.0 ppJun 2026
Birla Corporation Ltd BIRLACORPN7.8%+2.3 ppJun 2026
Nuvoco Vistas Corporation Ltd NUVOCO7.0%+1.6 ppJun 2026
Shree Digvijay Cement Co. Ltd SHREDIGCEM⚠ unverified6.8%−2.6 ppJun 2026
Saurashtra Cement Ltd SAURASHCEM⚠ unverified6.6%+6.3 ppMar 2026
Dalmia Bharat Ltd DALBHARAT6.3%+1.4 ppJun 2026
The Ramco Cements Ltd RAMCOCEM5.7%+1.1 ppMar 2026
Deccan Cements Ltd DECCANCE⚠ unverified3.0%+2.4 ppMar 2026
India Cements Ltd INDIACEM1.7%+3.7 ppJun 2026
BIGBLOC Construction Ltd BIGBLOC⚠ unverified1.2%−5.3 ppMar 2026
Full 20-quarter history · every available company

ROCE · reported quarter history

Showing the 12 largest of 18 companies with a series here. The remaining 6 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%

Mangalam Cement Ltd · MANGLMCEM

17%
—
13%
—
9.6%
—
6.8%
—
8.0%
13%
10%
14%
7.0%
11%
6.2%
13%
9.8%
13%
9.5%
—

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%
10%

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%
—

ROCE change · reported quarter history

Showing the 12 largest of 18 companies with a series here. The remaining 6 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

Mangalam Cement Ltd · MANGLMCEM

—
—
—
—
−6.9 pp
—
−6.0 pp
—
−1.6 pp
—
+3.5 pp
—
−1.0 pp
−1.6 pp
−4.1 pp
−0.9 pp
+2.8 pp
+2.3 pp
+3.3 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
+0.8 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
—
10 · compare level, then change

Valuation Against Growth & Quality

Orient Cement Ltd has the lowest PEG among the 26 Cement companies compared here, at 0.25×. Mangalam Cement Ltd is next at 0.6×. NCL Industries Ltd has the lowest P/E at 6.28×, so level and change sit with different companies. 11 of 26 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Orient Cement Ltd has the lowest comparable PEG at 0.25×, 58.3% below Mangalam Cement Ltd. Only 11 of 26 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderOrient Cement Ltd · 0.25×
Gap58.3% versus #2 · Mangalam Cement Ltd
Persistence0/8 recent comparable periods
Coverage11/26 companies · 42 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 feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.
PEGlowest PEG
1Orient Cement Ltd ORIENTCEM0.3
2Mangalam Cement Ltd MANGLMCEM0.6
3Dalmia Bharat Ltd DALBHARAT0.7
4HeidelbergCement India Ltd HEIDELBERG0.8
5ACC Ltd ACC0.9
P/Elowest P/E
1NCL Industries Ltd NCLIND⚠ unverified6.3
2K C P Ltd KCP⚠ unverified10.3
3Birla Corporation Ltd BIRLACORPN12.3
4Orient Cement Ltd ORIENTCEM13.2
5ACC Ltd ACC13.4
Valuation · company comparison
11/26 level · 22/26 change
All-company data · latest reported quarter
CompanyPEGP/EReported
Nuvoco Vistas Corporation Ltd NUVOCO8.128.0Jun 2026
The Ramco Cements Ltd RAMCOCEM4.1114.7Mar 2026
Birla Corporation Ltd BIRLACORPN3.913.8Jun 2026
J K Cements Ltd JKCEMENT1.542.1Jun 2026
Star Cement Ltd STARCEMENT1.122.4Mar 2026
Shree Cement Ltd SHREECEM1.053.3Jun 2026
ACC Ltd ACC0.911.8Jun 2026
HeidelbergCement India Ltd HEIDELBERG0.825.2Jun 2026
Dalmia Bharat Ltd DALBHARAT0.729.9Jun 2026
Mangalam Cement Ltd MANGLMCEM0.626.5Mar 2026
Orient Cement Ltd ORIENTCEM0.38.1Jun 2026
UltraTech Cement Ltd ULTRACEMCO—40.9Jun 2026
Ambuja Cements Ltd AMBUJACEM—21.0Jun 2026
JSW Cement Ltd JSWCEMENT—43.5Mar 2026
India Cements Ltd INDIACEM—151.7Jun 2026
Rain Industries Ltd RAIN—226.1Mar 2026
JK Lakshmi Cement Ltd JKLAKSHMI—14.7Mar 2026
Prism Johnson Ltd PRSMJOHNSN—170.0Mar 2026
Sagar Cements Ltd SAGCEM—127.8Jun 2026
K C P Ltd KCP⚠ unverified—10.6Mar 2026
Shree Digvijay Cement Co. Ltd SHREDIGCEM⚠ unverified—45.0Jun 2026
NCL Industries Ltd NCLIND⚠ unverified—10.1Mar 2026
Deccan Cements Ltd DECCANCE⚠ unverified—149.3Mar 2026
Saurashtra Cement Ltd SAURASHCEM⚠ unverified—19.7Mar 2026
BIGBLOC Construction Ltd BIGBLOC⚠ unverified—-332.1Mar 2026
Full 20-quarter history · every available company

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
—
—
—
—
—
—
0.8

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
—
—
—
—
—
—
1.0

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
—
—
—
—
—
—
—

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
30.7
23.2
25.4
21.0

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
53.3

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
11 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Cement comparison names 7 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.
  • 7 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.
12 · 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 2026-07-31. 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 2026-07-31 · weekly price and relative-strength history
Derived metricsGrowth, changes and PEG 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 standing12 cross-checked · 7 unverified · 7 withheld, of 26 graded companies.
How a second data feed is admitted, and what happens when it disagrees

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.

13 · questions investors ask, short speakable answers

Cement company comparison FAQs

These 24 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 2026-07-31. Nothing here is estimated, and none of it is a recommendation.

Is the Cement sector outperforming NIFTY 500?

Cement has underperformed NIFTY 500 by 21.9% over 52 weeks and 1.2% over 13 weeks. 2 of 25 covered companies beat NIFTY on Mansfield relative strength, while 12 of 25 beat the sector itself.

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 76/100 with 89.6% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Cement company has the lowest comparable PEG?

Orient Cement Ltd has the lowest comparable PEG at 0.25, among 11 of 26 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Cement comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns 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.

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 ₹39,867 crore. That covers 26 of 26 companies with comparable reporting through Jun 2026.

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 PEG — where a LOWER number is cheaper — Orient Cement Ltd screens cheapest at 0.25×. Only 11 of 26 companies have earnings and growth steady enough for the ratio to mean anything, 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.

Is the Cement sector beating the market?

Cement has underperformed NIFTY 500 by 21.9% over the last 52 weeks and 1.2% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 2 of 25 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

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 76 out of 100 with 89.6% evidence confidence, from 29.9 points on growth and earnings, 22.4 on capital efficiency, 11.3 on valuation and 12.4 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, 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 ₹7,70,617 crore of combined market value. UltraTech Cement Ltd is the largest at ₹3,50,757 crore, about 46% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-05.

What is the Cement sector's P/E ratio?

The median price-to-earnings ratio across the 26 Cement companies on this page is 28.5×, 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 2026-08-05.

How is the Cement sector performing?

2 of the 25 covered Cement companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 21.9% behind NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-05.

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.

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