UltraTech Cement vs Dalmia Bharat: share price, P/E, ROE and financials compared
UltraTech Cement
Dalmia Bharat
UltraTech Cement and Dalmia Bharat at a glance
UltraTech Cement and Dalmia Bharat are both listed in Construction Materials. UltraTech Cement is the larger by market cap, at ₹3.7L Cr against ₹27,602 Cr for Dalmia Bharat (13.3 times as large). On valuation, UltraTech Cement has the lower P/E (41.6× against 56.3×), while Dalmia Bharat has the lower price-to-book (1.54× against 4.98×). On returns and margins, UltraTech Cement has the higher ROCE (11.8% against 7.0%), the higher ROE (11.5% against 2.8%) and the higher operating margin (19.1% against 18.4%). Over three years, UltraTech Cement has faster 3-year sales growth (+11.9% against +3.0% a year) and faster 3-year profit growth (+17.3% against +3.2% a year). UltraTech Cement carries less debt for its equity, with a debt-to-equity of 0.38× against 0.57×.
Key metrics, side by side
| Metric | UltraTech CementULTRACEMCO | Dalmia BharatDALBHARAT |
|---|---|---|
| Price (₹) | 12,450.00 | 1,470.30 |
| Market cap (₹ Cr) | 3,66,110 | 27,602 |
| P/E | 41.6× (the lower figure, shaded) | 56.3× |
| P/B | 4.98× | 1.54× (the lower figure, shaded) |
| Dividend yield, trailing | 1.93% (the higher figure, shaded) | 0.61% |
| ROE | 11.5% (the higher figure, shaded) | 2.8% |
| ROCE | 11.8% (the higher figure, shaded) | 7.0% |
| Operating margin (OPM) | 19.1% (the higher figure, shaded) | 18.4% |
| Net margin (NPM) | 9.2% (the higher figure, shaded) | 3.2% |
| Sales CAGR 3Y | +11.9% (the higher figure, shaded) | +3.0% |
| Profit CAGR 3Y | +17.3% (the higher figure, shaded) | +3.2% |
| Debt to equity | 0.38× (the lower figure, shaded) | 0.57× |
| Interest cover | 7.0× (the higher figure, shaded) | 4.0× |
| Net profit TTM (₹ Cr) | 8,801 | 490 |
| 1Y return | +3.6% (the higher figure, shaded) | −28.5% |
| Promoter holding | – | – |
UltraTech Cement vs Dalmia Bharat: common questions
Which is bigger, UltraTech Cement or Dalmia Bharat?
By market cap, UltraTech Cement is bigger at ₹3.7L Cr, against ₹27,602 Cr for Dalmia Bharat (prices as of 6 Nov 2026). Net profit over the last twelve months was ₹8,801 Cr for UltraTech Cement and ₹490 Cr for Dalmia Bharat.
Which has a lower P/E ratio, UltraTech Cement or Dalmia Bharat?
UltraTech Cement trades at a P/E of 41.6× and Dalmia Bharat at 56.3×. UltraTech Cement has the lower P/E. P/E is the share price divided by earnings per share; it varies a lot between industries and with growth, so it says little on its own.
Which has a higher ROE, UltraTech Cement or Dalmia Bharat?
UltraTech Cement reports a return on equity of 11.5% and Dalmia Bharat 2.8%. UltraTech Cement has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, UltraTech Cement or Dalmia Bharat?
Over the last three years: Sales grew +11.9% a year at UltraTech Cement and +3.0% at Dalmia Bharat, so UltraTech Cement grew sales faster; profit grew +17.3% a year at UltraTech Cement and +3.2% at Dalmia Bharat, so UltraTech Cement grew profit faster. Past growth doesn’t predict future growth.