ADVERTISEMENT
'Buy' UltraTech Cement Shares Maintains Motilal Oswal, Sees Upto 21% Upside — Check Target Price
UltraTech Cement’s improved earnings, return ratios, and low-cost expansions warrant a higher valuation multiple, adds Motilal Oswal.
10 Sep 2025, 08:50 AM IST 
Save
UltraTech Cement's stock is currently trading at 18.0x/15.0x FY27E/FY28E EV/Ebitda (vs its 10- year average EV/Ebitda of 17x). (Image: UltraTech Cement/ X profile)
UltraTech Cement has in the recent past strengthened its market presence in the southern region through organic and inorganic expansions. The company’s grey cement capacity mix in the south region has increased to ~27% of total capacity currently from ~16% in FY23. Further, its capacity share in the south region (in the industry) has increased to ~25% currently from ~12% in FY23.
