AFFILIATED TO

DR. A.P.J. ABDUL KALAM TECHNICAL

UNIVERSITY (FORMERLY UTTAR PRADESH
TECHNICAL UNIVERSITY), LUCKNOW

ABES BUSINESS
SCHOOL,
GHAZIABAD  
FACT
SHEET:-
ULTRA
TECH
CEMENT
(CEMENT
INDUSTRY) •SUBJECT NAME:- Corporate Finance & Financial Management)

SUBJECT CODE :- KMBN-203 MBA 1st Year (II SEM)

COURSE :- Master of Business Administration (MBA)
FACULTY NAME :- Mr. Aditya Sharma
EMAIL:- Address aditya.sharma@abes.edu.in
About the company
• UltraTech Cement Limited is the cement flagship company of the Aditya Birla Group. A USD 7.6 billion building
solutions powerhouse, UltraTech is the largest manufacturer of grey cement and ready mix concrete (RMC) in
India. It is also one of the leading players in the white cement segment in India. It is the third largest cement
producer in the world, excluding China. UltraTech is the only cement company globally (outside of China) to have
100+ MTPA of cement manufacturing capacity in a single country. The Company’s business operations span UAE,
Bahrain, Sri Lanka and India.

• UltraTech has a consolidated capacity of 134.55 Million Tonnes Per Annum (MTPA) of grey cement. UltraTech has
23 integrated manufacturing units, 29 grinding units, one Clinkerisation unit and 8 Bulk Packaging Terminals. In
the white cement segment, UltraTech goes to market under the brand name of Birla White. It has one White
Cement unit and three Wall Care putty unit, with a current capacity of 1.98 MTPA. With 230+ Ready Mix
Concrete (RMC) plants in 100+ cities, UltraTech is the largest manufacturer of concrete in India. It also has a slew
of speciality concretes that meet specific needs of discerning customers. The Building Products business is an
innovation hub that offers an array of scientifically engineered products to cater to new-age constructions.

• UltraTech pioneered the UltraTech Building Solutions (UBS) concept to provide individual home builders with a one-
stop-shop solution for building their homes. This is the first pan-India multi-category retail chain catering to the
needs of individual home builders (IHBs). The purpose of this initiative is to engage with home builders at all
stages of the construction cycle, empower them with quality construction products and services, and assist in
the completion of their dream homes.

• UltraTech is a founding member of Global Cement and Concrete Association (GCCA). It is a signatory to the GCCA
Climate Ambition 2050 and has committed to the Net Zero Concrete Roadmap announced by GCCA. UltraTech is
focused on accelerating the decarbonisation of its operations. It has adopted new age tools like the Science
Based Targets Initiative (SBTi) and Internal Carbon Price as well as set ambitious environmental targets through
both EP100 and RE100. UltraTech is the first company in India and the second company in Asia to issue dollar-
based sustainability linked bonds.

• UltraTech works to actively contribute to the social and economic development of the communities in which it
operates in. The Company’s social initiatives focus on education, healthcare, sustainable livelihoods, community
infrastructure and social causes. UltraTech reaches out to more than 1.6 million beneficiaries in over 500 villages
in 16 states across India.
Company products and brand
 Company information
● Company Information
● REGD OFF: ● B Wing  Ahura Centre, 2nd Floor  Mahakali Caves Road, Andheri (East), Mumbai - 400093
● E-MAIL: ● sharesutcl@adityabirla.com
● WEB: ● www.ultratechcement.com
● TELEPHONE: ● 022-66917800 / 29267800
● FAX: ● 022-66928109
● SECTOR: ● CEMENT
● GROUP: ● Birla Aditya Group
● TR AGENT: ● K FIN Technologies Ltd.-(Karvy Fintech Pvt Ltd.), Karvy Selenium Tower B  Plot 31-32, Gachibowli
Financial District, Nanakramguda

● AUDITOR: ● Deloitte Haskins & Sells

● CHM: ● Kumar Mangalam Birla
● COMP SEC: ● S K Chatterjee
● YEAR OF INC: ● 2000
● BSE CODE: ● 532538
● FV (Rs): ● 10
● DIV YIELD (%): ● 0.5
 SHARE
HOLDING 
PATTER -N OF
COMPANY
•
 ● Financials
● * Results Consolidated ● No. of Months 12● ●12 12
● ●12 12 ●

Year Ending Mar-18* Mar-19* Mar-20* Mar-21* Mar-22*

● EQUITY SHARE DATA
● High ● Rs ● 4,594 ● 4,490 ● 4,904 ● 6,959 ● 8,267
● Low ● Rs ● 3,774 ● 3,264 ● 2,913 ● 3,029 ● 5,631
● Sales per share (Unadj.) ● Rs ● 1,095.5 ● 1,515.0 ● 1,470.0 ● 1,549.5 ● 1,822.1
Earnings per share (Unadj.) Rs 81.0 87.4 199.2 184.3 248.5
•
● ● ● ● ● ● ●

● Diluted earnings per share ● Rs ● 77.1 ● 83.1 ● 199.2 ● 184.2 ● 248.5

● Cash flow per share (Unadj.) ● Rs ● 148.3 ● 176.6 ● 293.6 ● 277.8 ● 342.6

● • per share (Unadj.)

Dividends ● Rs ● 10.50 ● 11.50 ● 13.00 ● 37.00 ● 38.00

● Adj. dividends per share ● Rs ● 9.99 ● 10.94 ● 13.00 ● 37.00 ● 38.00

● Avg Dividend yield ● % ● 0.3 ● 0.3 ● 0.3 ● 0.7 ● 0.5
● Book value per share (Unadj.) ● Rs ● 960.0 ● 1,031.9 ● 1,351.5 ● 1,528.9 ● 1,745.4

● Adj. book value per share ● Rs ● 913.2 ● 981.7 ● 1,351.2 ● 1,528.7 ● 1,745.3
● Shares outstanding (eoy) ● m ● 274.61 ● 274.64 ● 288.63 ● 288.65 ● 288.67
● Bonus / Rights / Conversions ● 0 ● 0 ● 0 ● 0 ● 0

● Price / Sales ratio ● x ●3.8 ●2.6 ●2.7 ●3.2 ●3.8

● Avg P/E ratio ● x ● 51.7 ● 44.4 ● 19.6 ● 27.1 ● 28.0
● P/CF ratio (eoy) ● x ● 28.2 ● 21.9 ● 13.3 ● 18.0 ● 20.3
● Price / Book Value ratio ● x ● 4.4 ● 3.8 ● 2.9 ● 3.3 ● 4.0
● Dividend payout ● % ● 13.0 ● 13.2 ● 6.5 ● 20.1 ● 15.3
● Avg Mkt Cap ● Rs m ● 1,149,026 ● 1,064,749 ● 1,128,106 ● 1,441,557 ● 2,005,981
● No. of employees ● `000 ● NA ● NA ● NA ● NA ● NA
● Total wages/salary ● Rs m ● 18,102 ● 22,911 ● 25,199 ● 23,530 ● 25,347
● Avg. sales/employee ● Rs Th ● 0 ● 0 ● 0 ● 0 ● 0
● Avg. wages/employee ● Rs Th ● 0 ● 0 ● 0 ● 0 ● 0
● Avg. net profit/employee ● Rs Th ● 0 ● 0 ● 0 ● 0 ● 0
 ● INCOME DATA
● NET SALES ● Rs m ● 300,848 ● 416,088 ● 424,299 ● 447,258 ● 525,988

● OTHER INCOME ● Rs m ● 5,886 ● 4,634 ● 6,511 ● 7,465 ● 5,078

● TOTAL REVENUES ● Rs m ● 306,734 ● 420,723 ● 430,810 ● 454,723 ● 531,066

● GROSS PROFIT ● Rs m ● 57,984 ● 72,336 ● 92,460 ● 113,094 ● 115,161

● DEPRECIATION ● Rs m ● 18,479 ● 24,507 ● 27,227 ● 27,002 ● 27,148

● INTEREST ● Rs m ● 12,376 ● 17,779 ● 19,917 ● 14,980 ● 9,447

● PROFIT BEFORE TAX ● Rs m ● 33,015 ● 34,685 ● 51,827 ● 78,576 ● 83,644

● MINORITY INTEREST ● Rs m ● 0 ● 0 ● 0 ● 0 ● 0

● PRIOR PERIOD ITEMS ● Rs m ● 0 ● 0 ● 0 ● 0 ● 0

● EXTRAORDINARY INC (EXP) ● Rs m ● 0 ● 0 ● 0 ● 0 ● 0

● TAX ● Rs m ● 10,770 ● 10,681 ● -5,682 ● 25,387 ● 11,901

● PROFIT AFTER TAX ● Rs m ● 22,245 ● 24,004 ● 57,509 ● 53,189 ● 71,743

● GROSS PROFIT MARGIN ● % ● 19.3 ● 17.4 ● 21.8 ● 25.3 ● 21.9

● EFFECTIVE TAX RATE ● % ● 32.6 ● 30.8 ● -11.0 ● 32.3 ● 14.2

● NET PROFIT MARGIN ● % ● 7.4 ● 5.8 ● 13.6 ● 11.9 ● 13.6

 ● BALANCE SHEET DATA
● CURRENT ASSETS ● Rs m ● 114,179 ● 118,607 ● 141,153 ● 230,537 ● 174,799
● CURRENT LIABILITIES ● Rs m ● 115,154 ● 155,333 ● 163,411 ● 203,478 ● 201,552
● NET WORKING CAP TO SALES ● % ● -0.3 ● -8.8 ● -5.2 ● 6.1 ● -5.1
● CURRENT RATIO ● x ● 1.0 ● 0.8 ● 0.9 ● 1.1 ● 0.9
● INVENTORY DAYS ● Days ● 102 ● 64 ● 92 ● 130 ● 76
● DEBTORS DAYS ● Days ● 3 ● 2 ● 2 ● 2 ● 2
● NET FIXED ASSETS ● Rs m ● 456,798 ● 635,711 ● 644,924 ● 621,261 ● 663,220
● SHARE CAPITAL ● Rs m ● 2,746 ● 2,746 ● 2,886 ● 2,887 ● 2,887
● "FREE" RESERVES ● Rs m ● 260,893 ● 280,647 ● 387,193 ● 438,424 ● 500,969
● NET WORTH ● Rs m ● 263,639 ● 283,393 ● 390,079 ● 441,311 ● 503,856
● LONG TERM DEBT ● Rs m ● 158,635 ● 206,504 ● 173,675 ● 135,485 ● 53,030
● TOTAL ASSETS ● Rs m ● 571,411 ● 765,254 ● 792,138 ● 861,764 ● 838,114
● INTEREST COVERAGE ● x ● 3.7 ● 3.0 ● 3.6 ● 6.2 ● 9.9
● DEBT TO EQUITY RATIO ● x ● 0.6 ● 0.7 ● 0.4 ● 0.3 ● 0.1
● SALES TO ASSETS RATIO ● x ● 0.5 ● 0.5 ● 0.5 ● 0.5 ● 0.6
● RETURN ON ASSETS ● % ● 6.1 ● 5.5 ● 9.8 ● 7.9 ● 9.7
● RETURN ON EQUITY ● % ● 8.4 ● 8.5 ● 14.7 ● 12.1 ● 14.2
● RETURN ON CAPITAL ● % ● 10.7 ● 10.7 ● 12.7 ● 16.2 ● 16.7
● EXPORTS TO SALES ● % ● 0 ● 0 ● 0 ● 0 ● 0
● IMPORTS TO SALES ● % ● 0.9 ● 0.8 ● 0.7 ● 9.0 ● 12.0
● EXPORTS (FOB) ● Rs m ● 0 ● 0 ● 0 ● 0 ● 0
● IMPORTS (CIF) ● Rs m ● 2,565 ● 3,146 ● 2,768 ● 40,221 ● 63,037
● FX INFLOW ● Rs m ● 5,273 ● 5,677 ● 3,915 ● 3,972 ● 3,769
● FX OUTFLOW ● Rs m ● 2,565 ● 3,146 ● 2,768 ● 40,221 ● 63,037
● NET FX ● Rs m ● 2,708 ● 2,531 ● 1,147 ● -36,249 ● -59,268
 ● CASH FLOW
● FROM ● Rs m ● 38,877 ● 60,137 ● 89,724 ● 125,004 ● 92,832
OPERATIONS
● FROM ● Rs m ● 18,616 ● 10,589 ● -41,924 ● -88,565 ● 22,570
INVESTMENTS
● FROM ● Rs m ● -57,351 ● -67,563 ● -50,759 ● -43,565 ● -124,979
FINANCIAL
ACTIVITY
● NET CASHFLOW ● Rs m ● 184 ● 3,676 ● -2,954 ● -7,122 ● -9,582
 ● CEMENT INDUSTRY (PEERS)
● Company Name ● Last Price ● % Change ● 52w High ● 52w High ● Market Cap (Rs. Cr)
● Ultratech Cement ● 7,704.00 ● -0.31 ● 7,824.65 ● 5,158.85 ● 2,22,403.96

● Shree Cement ● 24,179.90 ● -1.62 ● 27,013.00 ● 17,900.00 ● 87,242.89

● Ambuja Cement ● 405.55 ● 0 ● 598.15 ● 315.3 ● 80,527.84

● Dalmia Bharat ● 2,074.65 ● -0.5 ● 2,168.00 ● 1,212.60 ● 38,895.61

● Acc ● 1,754.85 ● -0.63 ● 2,784.95 ● 1,593.50 ● 32,953.85

● J.K.Cement ● 3,013.75 ● -1.35 ● 3,248.05 ● 2,005.00 ● 23,286.72

● Ramco Cement ● 770.05 ● -0.39 ● 809.3 ● 575.05 ● 18,195.69

● JK Lakshmi Cement ● 784.35 ● -1.74 ● 897 ● 368.65 ● 9,229.45

● Nuvoco Vistas ● 338.8 ● -0.5 ● 475 ● 260 ● 12,100.45

● India Cements ● 191.45 ● -2.1 ● 298.45 ● 145.55 ● 5,932.98

● Star Cement ● 126.5 ● -0.55 ● 132 ● 81.5 ● 5,112.88

● Heidelberg Cem ● 172 ● -1.8 ● 232.9 ● 152.6 ● 3,897.75

● Orient Cement ● 126.45 ● -1.6 ● 148.7 ● 95.65 ● 2,590.57

● Sagar Cement ● 194.65 ● -0.18 ● 267.75 ● 155.15 ● 2,544.22