Ambuja Cements Ltd.

•

ambujacement.comBSE: 500425NSE: AMBUJACEM

Market Cap₹ 97,156 Cr.

Current Price

High / Low₹ 601 / 388

Stock P/E22.2

Book Value₹ 241

Price to Book1.67

Dividend Yield0.51 %

ROCE6.2 %

ROE10.0 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Cement: 95.2% • Ready Mix Concrete: 4.8%

AI Sector View

AI GENERATED

Construction Materials

Buy

Construction materials remain supported by healthy building activity. Core industries cement growth accelerated to 13.1% YoY (2026-07), while finished steel consumption was 8.0% YoY (2026-06); steel output itself was softer at 2.9% YoY (2026-07). FPI positioning is still mildly negative at INR -497 crore over 3 months to 2026-08-31, but the fundamental demand backdrop remains constructive.

Confidence

69%

View full sector analysis →

PROS

Company is almost debt free
Working capital cycle has improved - days down from 54 to 5
Company comfortably covers its interest (15.8x coverage)
Stock looks reasonably valued - P/E of 22.2 is below its historical median
Attractively priced for its growth - PEG of 1.0

CONS

Promoter holding has decreased over last 2 years: -3.0pp
A large part of profit comes from other income (25.3% of PBT)
Free cash flow has been persistently negative
Effective tax rate is unusually low at -70.9% - earnings may be flattered
Total debt has risen sharply - up 96.8% year on year
Equity base is being diluted - shares outstanding up 24.5%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Construction MaterialsConstruction MaterialsCement & Construction Materials

Part ofNIFTY NEXT 50 NIFTY MNC NIFTYLARGEMIDCAP250 NIFTY100 EQL WGT NIFTY TOTAL MKT

S.No.	Name
1.	ULTRACEMCO	10996.00	37.95	324029.22	2.18	2603.72	17.24	24648.20	15.85	13.25	20.35
2.	AMBUJACEM	391.00	22.20	97156.35	0.51	660.00	-31.93	9500.00	-7.67	6.24	16.78
3.	SHREECEM	22588.80	50.00	81502.08	0.66	531.12	-17.48	6233.13	18.03	10.61	20.41
4.	JKCEMENT	4841.40	39.56	37408.65	0.41	274.62	-15.31	4031.72	20.26	14.89	16.07
5.	DALBHARAT	1749.20	35.17	32809.04	0.51	192.00	-51.39	3890.00	6.99	8.15	20.69
6.	ACC	1246.15	12.26	23401.11	0.60	147.00	-60.84	5808.00	-4.59	11.60	7.90
7.	RAMCOCEM	866.40	31.75	20472.37	0.29	31.24	-63.06	2273.05	9.60	10.75	13.49
8.	JSWCEMENT	118.80	21.30	16196.78	0.42	153.43	111.23	1896.41	21.58	-4.21	16.41
9.	NUVOCO	330.20	30.56	11793.30	0.00	159.63	19.88	3128.71	8.91	7.11	18.16
10.	INDIACEM	346.30	116.03	10731.74	0.00	26.85	120.20	1019.42	-0.52	0.30	15.28
11.	STARCEMENT	195.35	21.36	7895.66	0.51	73.91	-24.71	942.89	3.39	8.42	20.63
12.	BIRLACORPN	825.30	11.48	6355.25	1.51	115.73	-3.21	2646.45	7.83	10.88	12.93

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	8,713	7,424	8,129	8,894	8,392	7,552	9,411	9,981	10,289	9,174	10,277	10,915	9,500
	7,046	6,122	6,397	7,195	7,112	6,441	7,700	8,113	8,328	7,414	8,924	9,452	8,802
Operating Profit	1,667	1,302	1,732	1,699	1,280	1,111	1,712	1,868	1,961	1,761	1,353	1,464	698
OPM %	19.13%	17.54%	21.31%	19.10%	15.25%	14.72%	18.19%	18.71%	19.06%	19.19%	13.17%	13.41%	7.35%
	263	476	194	445	355	218	1,352	708	296	34	72	131	193
Interest	52	61	70	93	68	67	67	14	67	77	59	21	57
Depreciation	372	381	416	459	476	520	607	694	862	885	959	1,053	834
Profit before Tax	1,506	1,336	1,439	1,592	1,091	742	2,390	1,867	1,328	833	407	522	848
Tax %	24.97%	26.39%	24.94%	4.64%	28.50%	33.39%	-11.28%	27.88%	27.32%	-175.81%	11.16%	-254.77%	22.17%
Net Profit	0	0	0	0	790	473	2,620	1,282	970	2,302	367	1,857	660
	4.56	3.99	4.15	5.29	2.65	1.95	8.86	4.16	3.20	7.15	0.82	7.41	2.32

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	38,937	33,160	35,045	40,656	39,867
	33,815	26,760	29,074	34,117	34,591
Operating Profit	5,122	6,400	5,971	6,539	5,276
OPM %	13.16%	19.30%	17.04%	16.08%	13.23%
	419	1,378	2,633	534	431
Interest	195	276	216	224	213
Depreciation	1,645	1,628	2,478	3,570	3,731
Profit before Tax	3,729	5,896	5,922	3,299	2,610
Tax %	18.91%	19.70%	12.90%	-70.88%	-98.10%
Net Profit	3,024	4,735	5,158	5,637	5,171
EPS	12.64	16.26	16.92	19.13	—
Dividend Payout %	19.22%	12.30%	11.82%	10.46%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 1%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 22%

STOCK PRICE CAGR

10 Years:: 4%
5 Years:: -2%
3 Years:: -4%
1 Year:: -30%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 12%
Last Year:: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	397	440	493	494
Minority Interest	7,058	9,391	10,368	12,499
	26,301	38,232	52,951	58,850
	486	518	627	961
Trade Payables	2,774	2,964	2,759	4,185
	14,705	13,522	13,743	12,584
Total Liabilities	51,721	65,067	80,941	89,574
	23,551	32,194	42,578	58,263
Capital Work in Progress	2,526	2,658	9,820	9,085
	214	849	1,912	113
	3,273	3,609	4,248	4,552
	0	1,190	1,590	1,868
Cash & Bank	2,961	10,363	6,172	959
	19,197	14,204	14,621	14,734
Total Assets	51,721	65,067	80,941	89,574

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,473	5,646	2,237	5,362
Cash from Investing	-14,481	-8,950	-7,531	-7,935
Cash from Financing	2,931	5,689	5,592	-1,629
	-10,815	2,384	298	-4,203

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	70.33	67.57	67.57	67.57	67.57	67.68	67.68	67.68	67.33
	9.59	10.61	9.14	8.60	7.43	5.91	5.80	5.87	5.63
	13.03	14.98	16.41	17.09	18.49	19.41	19.64	19.86	19.44
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	6.83	6.63	6.67	6.52	6.29	6.78	6.67	6.37	7.39

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-11 - Ambuja Cements Limited has informed the Exchange about interaction with Investors / Analysts on September 17, 2026.

2026-08-29

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-29 - Ambuja Cements Limited has informed the Exchange about interaction with Investors / Analysts on September 3, 2026.

2026-08-28

Copy of Newspaper Publication

2026-08-28 - Ambuja Cements Limited has informed the exchange about Copy of Newspaper Publication intimating completion of dispatch of notice of National Company Law Tribunal (NCLT) convened meeting.

2026-08-27

Shareholders meeting

2026-08-27 - Ambuja Cements Limited has informed the Exchange regarding Notice of Court Covened General Meeting to be held on September 29, 2026

2026-08-27

Copy of Newspaper Publication

2026-08-27 - Ambuja Cements Limited has informed the exchange about Copy of Newspaper Publication intimating completion of dispatch of notice of National Company Law Tribunal (NCLT) convened meeting.

2026-08-26

Shareholders meeting

2026-08-26 - Ambuja Cements Limited has informed the Exchange regarding Notice of Court Covened General Meeting to be held on September 28, 2026

2026-08-21

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-21 - Ambuja Cements Limited has informed the Exchange about Schedule of meet

2026-08-20

Credit Rating

2026-08-20 - Ambuja Cements Limited has informed the Exchange about Credit Rating

2026-08-12

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-12 - Ambuja Cements Limited has informed the exchange about interaction with Investors / Analysts on August 19, 2026.

News

Recent coverage and analyst commentary for AMBUJACEM

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Ambuja Cements Ltd.

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Name

ULTRACEMCO

10996.00

37.95

324029.22

2.18

2603.72

17.24

24648.20

15.85

13.25

20.35

AMBUJACEM

391.00

22.20

97156.35

0.51

660.00

-31.93

9500.00

-7.67

6.24

16.78

SHREECEM

22588.80

50.00

81502.08

0.66

531.12

-17.48

6233.13

18.03

10.61

20.41

JKCEMENT

4841.40

39.56

37408.65

0.41

274.62

-15.31

4031.72

20.26

14.89

16.07

DALBHARAT

1749.20

35.17

32809.04

0.51

192.00

-51.39

3890.00

6.99

8.15

20.69

ACC

1246.15

12.26

23401.11

0.60

147.00

-60.84

5808.00

-4.59

11.60

7.90

RAMCOCEM

866.40

31.75

20472.37

0.29

31.24

-63.06

2273.05

9.60

10.75

13.49

JSWCEMENT

118.80

21.30

16196.78

0.42

153.43

111.23

1896.41

21.58

-4.21

16.41

NUVOCO

330.20

30.56

11793.30

0.00

159.63

19.88

3128.71

8.91

7.11

18.16

INDIACEM

346.30

116.03

10731.74

0.00

26.85

120.20

1019.42

-0.52

0.30

15.28

STARCEMENT

195.35

21.36

7895.66

0.51

73.91

-24.71

942.89

3.39

8.42

20.63

BIRLACORPN

825.30

11.48

6355.25

1.51

115.73

-3.21

2646.45

7.83

10.88

12.93

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

8,713

7,424

8,129

8,894

8,392

7,552

9,411

9,981

10,289

9,174

10,277

10,915

9,500

7,046

6,122

6,397

7,195

7,112

6,441

7,700

8,113

8,328

7,414

8,924

9,452

8,802

Operating Profit

1,667

1,302

1,732

1,699

1,280

1,111

1,712

1,868

1,961

1,761

1,353

1,464

698

OPM %

19.13%

17.54%

21.31%

19.10%

15.25%

14.72%

18.19%

18.71%

19.06%

19.19%

13.17%

13.41%

7.35%

263

476

194

445

355

218

1,352

708

296

131

193

Interest

Depreciation

372

381

416

459

476

520

607

694

862

885

959

1,053

834

Profit before Tax

1,506

1,336

1,439

1,592

1,091

742

2,390

1,867

1,328

833

407

522

848

Tax %

24.97%

26.39%

24.94%

4.64%

28.50%

33.39%

-11.28%

27.88%

27.32%

-175.81%

11.16%

-254.77%

22.17%

Net Profit

790

473

2,620

1,282

970

2,302

367

1,857

660

4.56

3.99

4.15

5.29

2.65

1.95

8.86

4.16

3.20

7.15

0.82

7.41

2.32

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

38,937

33,160

35,045

40,656

39,867

33,815

26,760

29,074

34,117

34,591

Operating Profit

5,122

6,400

5,971

6,539

5,276

OPM %

13.16%

19.30%

17.04%

16.08%

13.23%

419

1,378

2,633

534

431

Interest

195

276

216

224

213

Depreciation

1,645

1,628

2,478

3,570

3,731

Profit before Tax

3,729

5,896

5,922

3,299

2,610

Tax %

18.91%

19.70%

12.90%

-70.88%

-98.10%

Net Profit

3,024

4,735

5,158

5,637

5,171

EPS

12.64

16.26

16.92

19.13

—

Dividend Payout %

19.22%

12.30%

11.82%

10.46%

—

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

397

440

493

494

Minority Interest

7,058

9,391

10,368

12,499

26,301

38,232

52,951

58,850

486

518

627

961

Trade Payables

2,774

2,964

2,759

4,185

14,705

13,522

13,743

12,584

Total Liabilities

51,721

65,067

80,941

89,574

23,551

32,194

42,578

58,263

Capital Work in Progress

2,526

2,658

9,820

9,085

214

849

1,912

113

3,273

3,609

4,248

4,552

1,190

1,590

1,868

Cash & Bank

2,961

10,363

6,172

959

19,197

14,204

14,621

14,734

Total Assets

51,721

65,067

80,941

89,574

Mar 2023

Mar 2024

Mar 2025

Mar 2026

1,473

5,646

2,237

5,362

Cash from Investing

-14,481

-8,950

-7,531

-7,935

Cash from Financing

2,931

5,689

5,592

-1,629

-10,815

2,384

298

-4,203

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

70.33

67.57

67.68

67.33

9.59

10.61

9.14

8.60

7.43

5.91

5.80

5.87

5.63

13.03

14.98

16.41

17.09

18.49

19.41

19.64

19.86

19.44

Government

0.00

6.83

6.63

6.67

6.52

6.29

6.78

6.67

6.37

7.39

Ambuja Cements Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Ambuja Cements Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI