AMBUJACEM
Ambuja Cements Limited
One of India's leading cement makers, part of the Adani group's cement platform
Commodities›Construction Materials›Cement & Cement Products›Cement & Cement Products
ambujacement.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹360.00
Market cap
89,534 Cr
Stock P/E
20.5
P/B
1.50
Dividend yield
0.6%
ROE (FY26)
6.6%
ROCE (FY26)
4.9%
Operating margin (FY26)
7.3%
Debt / equity (FY26)
0.0009
OCF / EBITDA (FY26)
82.0%
OCF / EBITDA (3Y)
75.6%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
Ambuja Cements makes and sells cement, including blended and premium grades, to dealers, contractors and institutional buyers across India, as part of the Adani group's cement platform alongside ACC.
Company snapshot
3rdBy market cap
Ranked among 32 companies in Cement & Cement Products.
Segment mix
Reportable segments as of 2024-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| Nil | — | 0 Cr | 0 Cr | 0 Cr |
What we see
Positives
- ✓Debt-to-equity of 0.00x — the company is largely funded by its own money, not borrowed funds.
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Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 7,424 Cr | 8,129 Cr | 8,894 Cr | 8,311 Cr | 7,516 Cr | 9,329 Cr | 9,889 Cr | 10,289 Cr | 9,174 Cr | 10,277 Cr | 10,915 Cr | 9,500 Cr |
| Operating expenses (approx.) | 6,122 Cr | 6,397 Cr | 7,195 Cr | 7,032 Cr | 6,405 Cr | 7,617 Cr | 8,021 Cr | 8,328 Cr | 7,414 Cr | 8,924 Cr | 9,452 Cr | 7,911 Cr |
| EBITDA | 1,302 Cr | 1,732 Cr | 1,699 Cr | 1,280 Cr | 1,111 Cr | 1,712 Cr | 1,868 Cr | 1,961 Cr | 1,761 Cr | 1,353 Cr | 1,464 Cr | 1,589 Cr |
| OPM % | 17.5% | 21.3% | 19.1% | 15.4% | 14.8% | 18.4% | 18.9% | 19.1% | 19.2% | 13.2% | 13.4% | 16.7% |
| Other income | 476 Cr | 194 Cr | 233 Cr | 355 Cr | 374 Cr | 1,352 Cr | 573 Cr | 256 Cr | 257 Cr | 87 Cr | 234 Cr | 169 Cr |
| Interest | 61 Cr | 70 Cr | 93 Cr | 68 Cr | 67 Cr | 67 Cr | 14 Cr | 67 Cr | 77 Cr | 59 Cr | 21 Cr | 57 Cr |
| Depreciation | 381 Cr | 418 Cr | 453 Cr | 467 Cr | 552 Cr | 664 Cr | 786 Cr | 862 Cr | 885 Cr | 959 Cr | 1,053 Cr | 834 Cr |
| Profit before tax | 1,340 Cr | 1,448 Cr | 1,601 Cr | 1,103 Cr | 713 Cr | 2,336 Cr | 1,780 Cr | 1,333 Cr | 838 Cr | 412 Cr | 528 Cr | 848 Cr |
| Tax % | 26.3% | 24.8% | 4.7% | 28.4% | 33.6% | -12.2% | 27.9% | 27.2% | -174.9% | 11.0% | -251.7% | 22.2% |
| Net profit | 987 Cr | 1,090 Cr | 1,526 Cr | 790 Cr | 473 Cr | 2,620 Cr | 1,282 Cr | 970 Cr | 2,302 Cr | 367 Cr | 1,857 Cr | 660 Cr |
| EPS (₹) | ₹3.99 | ₹4.14 | ₹5.31 | ₹2.68 | ₹1.85 | ₹8.59 | ₹3.88 | ₹3.20 | ₹7.15 | ₹0.82 | ₹7.41 | ₹2.32 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 25,282 Cr | 26,041 Cr | 27,104 Cr | 24,516 Cr | 28,965 Cr | 30,983 Cr | 38,937 Cr | 33,160 Cr | 35,045 Cr | 40,656 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 21,425 Cr | 22,030 Cr | 22,507 Cr | 19,511 Cr | 22,755 Cr | 27,101 Cr | 33,815 Cr | 26,760 Cr | 29,074 Cr | 34,117 Cr | Sign in free for the trailing twelve months |
| EBITDA | 3,858 Cr | 4,011 Cr | 4,597 Cr | 5,006 Cr | 6,210 Cr | 3,882 Cr | 5,122 Cr | 6,400 Cr | 5,971 Cr | 6,539 Cr | Sign in free for the trailing twelve months |
| OPM % | 15.3% | 15.4% | 17.0% | 20.4% | 21.4% | 12.5% | 13.2% | 19.3% | 17.0% | 16.1% | Sign in free for the trailing twelve months |
| Other income | 323 Cr | 371 Cr | 581 Cr | 450 Cr | 352 Cr | 457 Cr | 738 Cr | 1,166 Cr | 2,654 Cr | 834 Cr | Sign in free for the trailing twelve months |
| Interest | 206 Cr | 171 Cr | 170 Cr | 140 Cr | 146 Cr | 158 Cr | 195 Cr | 276 Cr | 216 Cr | 224 Cr | Sign in free for the trailing twelve months |
| Depreciation | 1,219 Cr | 1,154 Cr | 1,153 Cr | 1,162 Cr | 1,152 Cr | 1,292 Cr | 1,645 Cr | 1,623 Cr | 2,478 Cr | 3,570 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 2,768 Cr | 2,919 Cr | 3,875 Cr | 3,992 Cr | 5,164 Cr | 2,741 Cr | 3,729 Cr | 5,901 Cr | 5,922 Cr | 3,299 Cr | Sign in free for the trailing twelve months |
| Tax % | 29.7% | -1.9% | 28.2% | 22.2% | 28.1% | 17.5% | 18.9% | 19.7% | 12.9% | -70.9% | Sign in free for the trailing twelve months |
| Net profit | 1,945 Cr | 2,973 Cr | 2,783 Cr | 3,107 Cr | 3,711 Cr | 2,261 Cr | 3,024 Cr | 4,738 Cr | 5,158 Cr | 5,637 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹7.64 | ₹10.97 | ₹10.55 | ₹11.91 | ₹14.00 | ₹9.76 | ₹13.01 | ₹17.99 | ₹17.00 | ₹19.15 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | 122.2% | 9.0% | — | 59.4% | 12.3% | 10.9% | 10.0% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 397 Cr | 397 Cr | 397 Cr | 397 Cr | 397 Cr | 397 Cr | 397 Cr | 440 Cr | 493 Cr | 494 Cr |
| Reserves | 20,275 Cr | 21,973 Cr | 23,681 Cr | 22,360 Cr | 24,957 Cr | — | 31,301 Cr | 41,016 Cr | 52,951 Cr | 58,853 Cr |
| Borrowings | 24 Cr | 40 Cr | 35 Cr | 44 Cr | 44 Cr | — | 48 Cr | 37 Cr | 27 Cr | 53 Cr |
| Other liabilities | 10,196 Cr | 9,699 Cr | 10,332 Cr | 10,579 Cr | 12,665 Cr | — | 12,917 Cr | 14,415 Cr | 17,107 Cr | 17,708 Cr |
| Total liabilities | 35,500 Cr | 37,341 Cr | 40,182 Cr | 39,721 Cr | 45,207 Cr | — | 51,721 Cr | 65,298 Cr | 80,945 Cr | 89,607 Cr |
| Fixed assets (net) | 12,948 Cr | 12,616 Cr | 12,606 Cr | 12,389 Cr | 14,160 Cr | — | 15,318 Cr | 20,715 Cr | 26,121 Cr | 35,284 Cr |
| CWIP | 667 Cr | 1,008 Cr | 1,554 Cr | 2,422 Cr | 2,196 Cr | — | 2,526 Cr | 2,658 Cr | 9,820 Cr | 9,085 Cr |
| Investments | 153 Cr | 133 Cr | 150 Cr | 167 Cr | 198 Cr | — | 214 Cr | 849 Cr | 1,912 Cr | 113 Cr |
| Loans & advances | — | 81 Cr | — | 62 Cr | 10 Cr | — | 9 Cr | 6 Cr | 8 Cr | 10 Cr |
| Inventories | 2,458 Cr | 2,958 Cr | 2,097 Cr | 1,649 Cr | 2,738 Cr | — | 3,273 Cr | 3,609 Cr | 4,248 Cr | 4,552 Cr |
| Trade receivables | 932 Cr | 1,305 Cr | 1,069 Cr | 561 Cr | 646 Cr | — | 1,154 Cr | 1,213 Cr | 1,590 Cr | 1,868 Cr |
| Cash & bank | 5,874 Cr | 6,093 Cr | 9,012 Cr | 8,572 Cr | 11,358 Cr | — | 544 Cr | 3,007 Cr | 5,043 Cr | 892 Cr |
| Other assets | 12,469 Cr | 13,147 Cr | 13,695 Cr | 13,899 Cr | 13,901 Cr | — | 28,685 Cr | 33,241 Cr | 32,203 Cr | 37,802 Cr |
| Total assets | 35,500 Cr | 37,341 Cr | 40,182 Cr | 39,721 Cr | 45,207 Cr | — | 51,721 Cr | 65,298 Cr | 80,945 Cr | 89,607 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 3,434 Cr | 1,727 Cr | 4,739 Cr | 4,833 Cr | 5,309 Cr | — | 735 Cr | 5,646 Cr | 3,295 Cr | 5,362 Cr |
| Cash from investing | -779 Cr | -766 Cr | -1,193 Cr | -1,318 Cr | -2,007 Cr | — | -14,481 Cr | -8,950 Cr | -8,589 Cr | -7,935 Cr |
| Cash from financing | -1,015 Cr | -742 Cr | -629 Cr | -3,956 Cr | -516 Cr | — | 2,931 Cr | 5,689 Cr | 5,592 Cr | -1,629 Cr |
| Net cash flow | 1,640 Cr | 218 Cr | 2,916 Cr | -441 Cr | 2,786 Cr | — | -10,815 Cr | 2,384 Cr | 298 Cr | -4,203 Cr |
| Free cash flow (OCF − Capex) | 2,328 Cr | 619 Cr | 3,071 Cr | 3,099 Cr | 2,975 Cr | — | -3,497 Cr | 1,163 Cr | -5,392 Cr | -983 Cr |
Ratios
| Metric | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 11.8% | 11.2% | 13.6% | 14.2% | 16.3% | — | 10.1% | 12.1% | 9.6% | 4.9% |
| ROE % | 6.0% | 7.9% | 9.3% | 8.1% | 8.6% | 7.0% | 6.7% | 7.0% | 6.5% | 6.6% |
| Debtor days | 13 | 18 | 14 | 8 | 8 | — | 11 | 13 | 17 | 17 |
| Inventory days | 314 | 322 | 236 | 238 | 313 | — | 251 | 305 | 271 | 254 |
| Days payable | 357 | 327 | 263 | 319 | 333 | — | 213 | 263 | 176 | 234 |
| Cash conversion cycle | -30 | 13 | -12 | -73 | -12 | — | 49 | 56 | 111 | 37 |
| OCF / EBITDA % | 89.0% | 43.0% | 103.1% | 96.5% | 85.5% | — | 14.3% | 88.2% | 55.2% | 82.0% |
| OCF / EBITDA % (3 years) | — | — | 79.4% | 83.0% | 94.1% | — | — | — | 55.3% | 75.6% |
| Debt / equity | 0.0012 | 0.0018 | 0.0015 | 0.0019 | 0.0017 | — | 0.0015 | 0.0009 | 0.0005 | 0.0009 |
| Current ratio | 1.25 | 1.48 | 1.58 | 1.38 | 1.51 | — | 1.67 | 2.15 | 1.42 | 1.05 |
| Net debt / EBITDA | -1.52 | -1.51 | — | -1.70 | -1.82 | 0.00 | -0.10 | -0.46 | -0.84 | -0.13 |