UltraTech Cement Limited (ULTRACEMCO) - Net Assets

Latest as of September 2025: Rs759.67 Billion INR

Based on the latest financial reports, UltraTech Cement Limited (ULTRACEMCO) has net assets worth Rs759.67 Billion INR as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs1.37 Trillion) and total liabilities (Rs613.38 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs759.67 Billion
% of Total Assets	55.33%
Annual Growth Rate	24.14%
5-Year Change	67.25%
10-Year Change	250.64%
Growth Volatility	28.88

UltraTech Cement Limited - Net Assets Trend (2005–2025)

This chart illustrates how UltraTech Cement Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.

Annual Net Assets for UltraTech Cement Limited (2005–2025)

The table below shows the annual net assets of UltraTech Cement Limited from 2005 to 2025.

Year	Net Assets	Change
2025-03-31	Rs738.93 Billion	+22.58%
2024-03-31	Rs602.83 Billion	+11.08%
2023-03-31	Rs542.69 Billion	+7.61%
2022-03-31	Rs504.32 Billion	+14.15%
2021-03-31	Rs441.80 Billion	+12.93%
2020-03-31	Rs391.23 Billion	+37.75%
2019-03-31	Rs284.01 Billion	+7.59%
2018-03-31	Rs263.97 Billion	+8.18%
2017-03-31	Rs244.01 Billion	+15.79%
2016-03-31	Rs210.74 Billion	+10.57%
2015-03-31	Rs190.59 Billion	+10.82%
2014-03-31	Rs171.99 Billion	+12.35%
2013-03-31	Rs153.08 Billion	+18.79%
2012-03-31	Rs128.87 Billion	+20.30%
2011-03-31	Rs107.12 Billion	+131.51%
2010-03-31	Rs46.27 Billion	+27.89%
2009-03-31	Rs36.18 Billion	+33.59%
2008-03-31	Rs27.08 Billion	+52.71%
2007-03-31	Rs17.74 Billion	+69.53%
2006-03-31	Rs10.46 Billion	+6.99%
2005-03-31	Rs9.78 Billion	--

Equity Component Analysis

This analysis shows how different components contribute to UltraTech Cement Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 1489.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (March 2025)

Component	Amount	Percentage
Retained Earnings	Rs110.39 Billion	15.61%
Common Stock	Rs2.95 Billion	0.42%
Other Comprehensive Income	Rs484.79 Billion	68.56%
Other Components	Rs108.94 Billion	15.41%
Total Equity	Rs707.07 Billion	100.00%

UltraTech Cement Limited Competitors by Market Cap

The table below lists competitors of UltraTech Cement Limited ranked by their market capitalization.

Company	Market Cap
Delta Air Lines Inc NYSE:DAL	$37.84 Billion
PG&E Corp NYSE:PCG	$37.94 Billion
RWE AG XETRA:RWE	$38.05 Billion
Vulcan Materials Company NYSE:VMC	$38.06 Billion
PayPal Holdings Inc NASDAQ:PYPL	$37.70 Billion
WEC Energy Group Inc NYSE:WEC	$37.69 Billion
Thomson Reuters Corporation Common Shares NASDAQ:TRI	$37.67 Billion
Fomento Economico Mexicano NYSE:FMX	$37.66 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in UltraTech Cement Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 602,274,800,000 to 707,067,700,000, a change of 104,792,900,000 (17.4%).
Net income of 60,391,100,000 contributed positively to equity growth.
Dividend payments of 20,116,500,000 reduced retained earnings.
Share repurchases of 1,002,900,000 reduced equity.
New share issuances of 333,100,000 increased equity.
Other comprehensive income increased equity by 479,348,100,000.
Other factors decreased equity by 414,160,000,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	Rs60.39 Billion	+8.54%
Dividends Paid	Rs20.12 Billion	-2.85%
Share Repurchases	Rs1.00 Billion	-0.14%
Share Issuances	Rs333.10 Million	+0.05%
Other Comprehensive Income	Rs479.35 Billion	+67.79%
Other Changes	Rs-414.16 Billion	-58.57%
Total Change	Rs-	17.40%

Book Value vs Market Value Analysis

This analysis compares UltraTech Cement Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 4.90x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 335.12x to 4.90x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2005-03-31	Rs35.47	Rs11886.00	x
2006-03-31	Rs37.93	Rs11886.00	x
2007-03-31	Rs64.41	Rs11886.00	x
2008-03-31	Rs98.45	Rs11886.00	x
2009-03-31	Rs131.55	Rs11886.00	x
2010-03-31	Rs168.27	Rs11886.00	x
2011-03-31	Rs387.82	Rs11886.00	x
2012-03-31	Rs467.15	Rs11886.00	x
2013-03-31	Rs554.77	Rs11886.00	x
2014-03-31	Rs625.88	Rs11886.00	x
2015-03-31	Rs693.61	Rs11886.00	x
2016-03-31	Rs767.09	Rs11886.00	x
2017-03-31	Rs888.51	Rs11886.00	x
2018-03-31	Rs960.66	Rs11886.00	x
2019-03-31	Rs1034.12	Rs11886.00	x
2020-03-31	Rs1355.81	Rs11886.00	x
2021-03-31	Rs1530.90	Rs11886.00	x
2022-03-31	Rs1747.90	Rs11886.00	x
2023-03-31	Rs1883.12	Rs11886.00	x
2024-03-31	Rs2088.11	Rs11886.00	x
2025-03-31	Rs2427.17	Rs11886.00	x

Capital Efficiency Dashboard

This dashboard shows how efficiently UltraTech Cement Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 8.54%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 7.95%
• Asset Turnover: 0.57x
• Equity Multiplier: 1.89x
Recent ROE (8.54%) is below the historical average (15.86%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2005	-5.35%	-1.93%	0.76x	3.67x	Rs-1.49 Billion
2006	21.77%	6.70%	0.93x	3.49x	Rs1.23 Billion
2007	44.49%	15.83%	1.06x	2.64x	Rs6.10 Billion
2008	37.43%	17.90%	0.90x	2.32x	Rs7.41 Billion
2009	27.13%	14.92%	0.85x	2.14x	Rs6.18 Billion
2010	23.74%	15.29%	0.86x	1.81x	Rs6.35 Billion
2011	12.84%	9.91%	0.64x	2.03x	Rs3.03 Billion
2012	18.74%	12.50%	0.77x	1.94x	Rs11.21 Billion
2013	17.58%	12.56%	0.72x	1.94x	Rs11.55 Billion
2014	12.84%	10.19%	0.67x	1.87x	Rs4.88 Billion
2015	11.02%	8.71%	0.63x	2.00x	Rs1.94 Billion
2016	11.77%	9.85%	0.62x	1.94x	Rs3.72 Billion
2017	11.13%	10.70%	0.60x	1.73x	Rs2.76 Billion
2018	8.42%	7.17%	0.54x	2.17x	Rs-4.16 Billion
2019	8.47%	5.78%	0.64x	2.27x	Rs-4.35 Billion
2020	14.71%	13.56%	0.53x	2.03x	Rs18.44 Billion
2021	12.37%	12.21%	0.52x	1.95x	Rs10.46 Billion
2022	14.56%	13.96%	0.63x	1.66x	Rs23.01 Billion
2023	9.32%	8.01%	0.69x	1.68x	Rs-3.68 Billion
2024	11.63%	9.88%	0.70x	1.67x	Rs9.82 Billion
2025	8.54%	7.95%	0.57x	1.89x	Rs-10.32 Billion

Industry Comparison

This section compares UltraTech Cement Limited's net assets metrics with peer companies in the Building Materials industry.

Industry Context

Industry: Building Materials
Average net assets among peers: $50,622,361,085
Average return on equity (ROE) among peers: 9.75%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
UltraTech Cement Limited (ULTRACEMCO)	Rs759.67 Billion	-5.35%	0.81x	$37.81 Billion
ACC Limited (ACC)	$84.35 Billion	12.98%	0.43x	$2.91 Billion
Andhra Cements Limited (ACL)	$-3.15 Billion	0.00%	0.00x	$57.74 Million
Ambuja Cements Limited (AMBUJACEM)	$387.57 Billion	4.97%	0.33x	$12.27 Billion
Anjani Portland Cement Limited (APCL)	$3.22 Billion	12.88%	2.47x	$37.06 Million
Birla Corporation Limited (BIRLACORPN)	$24.53 Billion	11.02%	0.85x	$812.92 Million
Burnpur Cement Limited (BURNPUR)	$616.16 Million	1.08%	0.77x	$6.15 Million
Barak Valley Cements Limited (BVCL)	$1.08 Billion	-4.19%	1.13x	$10.58 Million
Dalmia Bharat Limited (DALBHARAT)	$482.92K	4.79%	27.65x	$4.00 Billion
Deccan Cements Limited (DECCANCE)	$6.46 Billion	13.57%	0.53x	$101.39 Million
EURO PRATIK SALES LIMITED (EUROPRATIK)	$1.56 Billion	40.39%	0.12x	$279.13 Million

About UltraTech Cement Limited

NSE:ULTRACEMCO India Building Materials

Market Cap

$37.81 Billion

Rs3.50 Trillion INR

Market Cap Rank

#640 Global

#18 in India

Share Price

Rs11886.00

Change (1 day)

+0.51%

52-Week Range

Rs10362.00 - Rs13052.00

All Time High

Rs13052.00