Skip to content
Ambuja Cements logo

Ambuja Cements

AMBUJACEM NSE
₹375.95 +7.05 (+1.91%)
P/E
21.09
View as Markdown
MCP
Close 4 Nov 2026 ₹375.95 −182.45 −32.7% 1Y
Start ₹558.40

Key Fundamentals

MidcapCement & Cement ProductsConstruction Materials

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
5.61%
Debt to Equity
0.01
EPS (TTM)
₹17.83
Book Value
₹238.84
Market Cap
—
P/E (TTM)
21.09
P/B
1.57
ROE
8.85%
Dividend Yield
0.54%
EBITDA
₹7,373 Cr
52W High
₹573.10
52W Low
₹341.00
Day Range
₹367.00 – ₹375.95
Volume
29,60,123

Peer Comparison

Commodities › Construction › Cement › Cement & Cement Products

Ambuja Cements peer comparison
UltraTech Cement
₹11,816.0039.56₹3,46,219 Cr4.732.05%11.10%12.70%₹95,572 Cr₹8,834 Cr
Grasim Industries
₹3,138.0037.92₹2,11,790 Cr2.050.32%4.98%8.01%₹1,84,029 Cr₹11,261 Cr
Ambuja Cements (this company)
₹375.9521.09₹92,920 Cr1.570.54%8.85%5.61%₹39,867 Cr₹5,222 Cr
Shree Cement
₹24,175.0053.51₹86,846 Cr3.660.63%7.51%10.30%₹21,896 Cr₹1,637 Cr
JK Cement
₹5,076.3041.48₹39,409 Cr5.340.39%15.60%15.10%₹14,401 Cr₹939 Cr
Dalmia Bharat
₹1,407.0028.29₹26,437 Cr1.480.29%6.11%7.59%₹15,058 Cr₹953 Cr
ACC
₹1,185.3011.66₹22,384 Cr1.080.64%10.90%11.20%₹25,442 Cr₹1,908 Cr
Median 7 companies₹3,138.0037.92₹86,846 Cr2.050.54%8.85%10.30%₹25,442 Cr₹1,908 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

40 Weak

Data confidence 100/100

Category scores

Quality
33
Poor
Returns, margins, earnings quality 22% weight
Valuation
61
Good
Cheap vs sector & own history 24% weight
Growth
25
Poor
Sales & profit trajectory 9% weight
Financial Health
54
Average
Solvency, leverage, coverage 9% weight
Momentum
16
Poor
Trend strength, vol-adjusted 12% weight
Ownership
43
Weak
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company is almost debt free.

Weaknesses

3
  • The company has delivered a poor sales growth of 10.6% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 9.00% over last 3 years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish847
OscillatorsBullish243
Moving AveragesStrong Bearish604

Key readings

RSI (14)
56.66
Neutral
MACD (12,26,9)
−3.27
Bullish
SMA (50)
377.31
Bearish
SMA (200)
435.44
Bearish

As of

Analyst Rating

Based on 37 analysts
BUY70%

26 of 37 analysts rate Buy, 9 Hold, 2 Sell.

As of

BUY
26
70%
HOLD
9
24%
SELL
2
5%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10YIrregular period
5YIrregular period
3YIrregular period
1Y+15.06%
TTM+7.07%

Net profit

Net profit growth by window
10YIrregular period
5YIrregular period
3YIrregular period
1Y+6.48%
TTM−5.93%

Operating cash flow

Operating cash flow growth by window
10YIrregular period
5YIrregular period
3YIrregular period
1Y+139.70%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10YIrregular period
5YIrregular period
3YIrregular period
1Y−0.72 pp
TTM−2.40 pp

Revenue by year

Revenue by year, ₹ crore
Dec 2015₹9,437 Cr
Dec 2016₹20,094 Cr
Dec 2017₹23,609 Cr
Dec 2018₹26,041 Cr
Dec 2019₹27,104 Cr
Dec 2020₹24,516 Cr
Dec 2021₹28,965 Cr
Mar 2024₹33,160 Cr
Mar 2025₹35,336 Cr
Mar 2026₹40,656 Cr

Net profit by year

Net profit by year, ₹ crore
Dec 2015₹808 Cr
Dec 2016₹1,434 Cr
Dec 2017₹1,945 Cr
Dec 2018₹2,973 Cr
Dec 2019₹2,783 Cr
Dec 2020₹3,107 Cr
Dec 2021₹3,711 Cr
Mar 2024₹4,735 Cr
Mar 2025₹5,294 Cr
Mar 2026₹5,637 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹1,744 Cr +39.6% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 2 Nov 2026
AI opinion · based on fundamentals
Risk medium

Ambuja Cements trades at ₹360.2 as of 2026-11-02 with a market cap of ₹89,019 Cr, a P/E of 20.2x, and a near-zero debt-to-equity ratio of 0.01. The stock sits close to its 52-week low of ₹341, having declined 36% over the past year, while long-term profit compounding remains healthy at 22% over ten years.

Bull Case 6
  • The company is virtually debt-free with a debt-to-equity ratio of just 0.01, providing significant financial flexibility and resilience through economic cycles.
  • Compounded profit growth of 22% over ten years and 21% over three years demonstrates a strong track record of earnings expansion.
  • Compounded sales growth of 16% over ten years reflects a sustained ability to grow the topline over the long term.
  • P/B ratio of 1.51 is relatively moderate for a large-cap cement company, suggesting the stock is not excessively priced relative to book value.
  • TTM sales growth of 7% shows a recent recovery in revenue momentum compared to the muted 1% three-year compounded sales growth.
  • EPS of ₹17.83 on a TTM basis, combined with India's ongoing infrastructure and housing push, positions the company within a structurally growing sector.
Bear Case 7
  • The stock has delivered a 1-year return of -36% and a negative 3-year CAGR of -6%, indicating persistent shareholder value erosion over medium-term horizons.
  • Return on equity stands at just 7.85% currently and has averaged only 9% over three, five, and ten years, which is low for a leading cement franchise.
  • ROCE of 4.6% is notably weak, suggesting the company is generating poor returns on total capital employed.
  • Three-year compounded sales growth of just 1% indicates near-stagnant revenue over the medium term despite volume growth in the broader cement industry.
  • TTM profit growth has decelerated sharply to 4% from the 21% three-year compounded rate, signalling a potential slowdown in earnings momentum.
  • Five-year stock CAGR of -3% means the stock has destroyed value over a half-decade period even as broader markets rallied.
  • The tax rate appears low, which if it normalises upward could compress reported net profits and reduce EPS going forward.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Ambuja Cements is executing an aggressive capacity expansion strategy backed by a debt-free balance sheet, with 4.6 MTPA commissioned in Q2 and a ₹14,500 crore plan to reach 155 MTPA by FY30. The trade mix shift to 74% and premium product growth are structural positives, but volumes remain soft and pricing power is limited. H2 FY27 is the proving ground — margin recovery hinges on energy cost moderation, price hike sustainability, and management hitting its cost targets.

Headwinds 6
  • EBITDA margins crushed to 13.8% Oct 29

    Consolidated EBITDA margins fell 5.4 percentage points to 13.8% from 19.2% YoY, with EBITDA per tonne dropping 27% to ₹770 from ₹1,061.

  • ₹376 crore geopolitical cost shock Oct 29

    Geopolitical disruptions and energy cost spikes added ₹228 per tonne in costs during Q2 FY27, with commercial diesel prices up 25-30% over six months and kiln fuel costs rising to ₹1.87/kcal from ₹1.60.

  • Q2 profit drops 90% YoY Oct 29

    Consolidated net profit fell 90% to ₹193 crore from ₹1,774 crore in Q2 FY26, missing analyst estimates of ₹349.85 crore. However, the base quarter included a ₹1,697 crore tax write-back.

Positives 6
  • ₹14,500 crore capacity expansion plan Nov 2

    Ambuja Cements announced ₹14,500 crore capex to add 30 MTPA capacity across East, West, and North clusters, targeting 155 MTPA by FY30.

  • Trade volumes surge, premium mix up Oct 29

    Trade volumes grew 8.6% YoY in Q2 FY27, with trade share rising 6 percentage points to 74% of sales. Premium products reached 37% of trade sales, up from 35%.

  • 4.6 MTPA capacity commissioned in Q2 Oct 29

    New capacity at Dahej (1.2 MTPA), Salai Banwa (2.4 MTPA) and Kalamboli (1 MTPA) commissioned in Q2, with another 5.6 MTPA ramping up in H2 FY27.

Neutral 2
  • Singapore investor meet in November Oct 7

    Ambuja Cements will interact with investors and analysts at the Adani Annual Conference 2026 in Singapore on November 18-19, 2026.

  • Tax base effect distorts YoY comparison Oct 29

    The 90% profit decline is heavily distorted by a one-time ₹1,697 crore tax reversal in Q2 FY26. Normalised profit declined approximately 54%, and the distortion will fade from next quarter.

Quarterly Results

₹ Cr
AMBUJACEM quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
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
9,197
Expenses
7,046
6,122
6,397
7,195
7,112
6,441
7,700
8,113
8,328
7,414
8,924
9,451
7,911
—
Operating Profit
1,667
1,302
1,732
1,699
1,280
1,111
1,712
1,868
1,961
1,761
1,353
1,465
1,589
—
OPM %
19%
18%
21%
19%
15%
15%
18%
19%
19%
19%
13%
13%
17%
—
Other Income
263
476
204
448
355
220
1,355
713
300
39
77
136
150
—
Interest
52
61
70
93
68
67
67
14
67
77
59
21
57
74
Depreciation
372
381
418
459
467
520
607
694
767
885
911
1,053
834
877
PBT
1,506
1,336
1,450
1,595
1,099
744
2,393
1,872
1,427
838
460
527
848
298
Tax %
25%
26%
25%
5%
28%
33%
−11%
28%
27%
−175%
12%
−252%
22%
21%
Net Profit
1,135
987
1,090
1,521
790
496
2,663
1,351
1,041
2,302
403
1,857
660
236
EPS (₹)
4.56
3.99
4.15
4.78
2.6
1.95
8.76
4.16
3.53
7.14
0.97
7.4
2.32
—

Sep 2026: from the results filed on 29 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
AMBUJACEM profit and loss, annual, ₹ crore
Particulars Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023 15mMar 2024Mar 2025Mar 2026TTM
Sales
9,955
9,437
20,094
23,609
26,041
27,104
24,516
28,965
38,937
33,160
35,336
40,656
39,867
Expenses
8,022
7,895
16,913
19,751
22,030
22,507
19,511
22,755
33,815
26,760
29,366
34,079
33,699
Operating Profit
1,934
1,542
3,181
3,858
4,011
4,597
5,006
6,210
5,122
6,400
5,971
6,577
6,168
OPM %
19%
16%
16%
16%
15%
17%
20%
21%
13%
19%
17%
16%
15%
Other Income
419
353
441
335
232
601
288
252
447
1,401
2,646
516
402
Interest
66
92
153
206
170
170
140
146
195
276
216
224
214
Depreciation
513
630
1,461
1,219
1,154
1,153
1,162
1,152
1,645
1,628
2,297
3,570
3,683
PBT
1,774
1,173
2,008
2,768
2,919
3,875
3,992
5,164
3,729
5,896
6,104
3,299
2,673
Tax %
16%
31%
29%
30%
−2%
28%
22%
28%
19%
20%
13%
−71%
—
Net Profit
1,487
808
1,434
1,945
2,973
2,783
3,107
3,711
3,024
4,735
5,294
5,637
5,222
EPS (₹)
9.59
5.21
5.57
7.64
10.97
10.55
11.91
14
13.01
16.26
17.47
19.13
17.83
Div. Payout %
46%
54%
50%
47%
14%
14%
151%
45%
19%
12%
11%
10%
—

Balance Sheet

₹ Cr
AMBUJACEM balance sheet, annual, ₹ crore
Particulars Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
310
310
397
397
397
397
397
397
397
440
493
494
Reserves
9,760
9,961
19,424
20,275
21,973
23,681
22,360
24,957
31,301
41,012
53,086
58,853
Borrowings
34
35
29
24
40
41
471
477
523
699
788
866
Other Liabilities
3,774
3,827
12,974
14,813
14,981
16,059
16,490
19,374
19,501
22,916
26,735
29,361
Total Liabilities
13,878
14,133
32,824
35,509
37,391
40,178
39,718
45,205
51,721
65,067
81,102
89,574
Fixed Assets
6,310
6,170
21,410
20,898
20,636
20,701
20,486
22,254
23,551
32,194
42,766
58,263
CWIP
692
416
582
667
1,008
1,554
2,422
2,168
2,526
2,658
9,858
9,121
Investments
2,097
2,149
175
153
133
150
167
198
214
849
1,912
113
Other Assets
4,780
5,398
10,657
13,791
15,613
17,773
16,643
20,585
25,430
29,365
26,566
22,077
Total Assets
13,878
14,133
32,824
35,509
37,391
40,178
39,718
45,205
51,721
65,067
81,102
89,574

Cash Flow

₹ Cr
AMBUJACEM cash flow, annual, ₹ crore
Particulars Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023Mar 2024Mar 2025Mar 2026
Operating
1,675
1,557
2,810
3,416
1,703
4,739
4,832
5,309
735
5,646
2,237
5,362
Investing
−456
−83
−4,165
−738
−765
−1,191
−1,317
−2,007
−14,481
−8,941
−7,529
−7,935
Financing
−721
−900
−958
−1,015
−719
−629
−3,956
−516
2,931
5,689
5,592
−1,629
Net Cash Flow
498
574
−2,312
1,663
220
2,919
−441
2,786
−10,815
2,394
301
−4,203
Free Cash Flow
854
937
1,925
2,332
612
3,132
3,107
3,013
−3,331
1,685
−6,293
−594
CFO/EBITDA
102
104
107
102
71
115
120
96
29
103
44
77

Ratios

AMBUJACEM financial ratios, annual
Particulars Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
8
11
17
14
18
14
8
8
11
13
16
17
Inventory Days
379
394
339
323
333
208
193
337
234
238
238
246
Days Payable
265
299
324
370
339
231
259
359
198
196
167
227
Cash Conversion Cycle
123
107
32
−33
13
−9
−58
−14
46
56
86
37
Working Capital Days
−61
−65
−67
−62
−34
−56
−80
−74
45
8
−25
−3
ROCE %
18%
11%
11%
12%
12%
14%
14%
17%
12%
13%
11%
6%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Ambuja Cements insights

72 extracted metrics across FY12–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 67.33%
  • DIIs 19.35%
  • FIIs 5.66%
  • Public 5.66%
  • Others 1.99%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Ambuja Cements

What does Ambuja Cements Ltd do?
Ambuja Cements Ltd. is among the leading cement companies in India. It is a member of the Adani Group. Currently, Ambuja Cement has a cement capacity of 31 million tonnes with six integrated cement manufacturing plants and eight cement grinding units across the country.
Where is Ambuja Cements Ltd (AMBUJACEM) listed?
Ambuja Cements Ltd trades as AMBUJACEM on the NSE and under code 500425 on the BSE.
Which sector does Ambuja Cements Ltd belong to?
Ambuja Cements Ltd is classified under the Construction sector, in the Cement industry.
What is the PE ratio of Ambuja Cements Ltd?
Ambuja Cements Ltd trades at a PE ratio of 21.09 as of 4 Nov 2026, on earnings per share of ₹17.83, against a book value of ₹238.84 per share.
What is the 52-week high and low of Ambuja Cements Ltd?
Over the last 52 weeks Ambuja Cements Ltd has traded between ₹341 and ₹573.1 as of 4 Nov 2026.
Does Ambuja Cements Ltd pay dividends?
Ambuja Cements Ltd has a dividend yield of 0.54%.
What is the Return on Equity (ROE) of Ambuja Cements Ltd?
Ambuja Cements Ltd reported a return on equity of 8.85%. Its debt-to-equity ratio is 0.01.

Company Information

Ambuja Cements Ltd. is among the leading cement companies in India. It is a member of the Adani Group. Currently, Ambuja Cement has a cement capacity of 31 million tonnes with six integrated cement manufacturing plants and eight cement grinding units across the country.

Website ambujacement.com
CEO Mr. Vinod Mohanlal Bahety
Employees 3,883
Listed 18 Feb 1998
Face Value ₹2

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/AMBUJACEM.md for Ambuja Cements Ltd: dated key facts, then this page's sections in order: latest price, key fundamentals, peer comparison, the Tapetide Score, technical indicators, analyst ratings, growth rates, analyst forecasts, the AI analysis and news digest (labelled as AI-generated), financial statements, shareholding pattern, documents and the FAQ.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our Indian stock market MCP server.

Explore More

More Cement stocks → FII DII DataStock ScreenerNifty 50 HeatmapF&O Ban ListFII and DII flows, month by monthHow Tapetide Scores changed, month by monthStocks mutual funds are buying, month by month