# Cement Sector
> Consolidation play — top 5 players control 55%+ capacity, and the Adani-Ambuja deal reset pricing discipline.

## Overview
Market Cap: ₹5,56,545 Cr
Avg P/E: 28.0
Companies: 23

## Data Freshness
Sector Updated: 2026-09-03T10:49:42.023Z
Updated By: daily market-close sector sync and derived refresh jobs

## Companies
- UltraTech Cement Ltd (ULTRACEMCO): — | PE 35.5 | MCap ₹3,11,767 Cr
- Grasim Industries Ltd (GRASIM): — | PE — | MCap —
- Ambuja Cements Ltd (AMBUJACEM): ₹357.7 | PE 20.3 | MCap ₹88,882 Cr
- Shree Cement Ltd (SHREECEM): — | PE — | MCap —
- JK Cement Ltd (JKCEMENT): — | PE 40.2 | MCap ₹37,985 Cr
- Dalmia Bharat Ltd (DALBHARAT): — | PE — | MCap —
- ACC Ltd (ACC): ₹1165 | PE 11.5 | MCap ₹21,877 Cr
- The Ramco Cements Ltd (RAMCOCEM): ₹745 | PE 27.3 | MCap ₹17,604 Cr
- JSW Cement Ltd (JSWCEMENT): — | PE 20.1 | MCap ₹15,501 Cr
- India Cements Ltd (INDIACEM): ₹305.3 | PE 77.3 | MCap ₹14,192 Cr
- Nuvoco Vistas Corporation Ltd (NUVOCO): ₹337.1 | PE 29.1 | MCap ₹12,040 Cr
- Star Cement Ltd (STARCEMENT): — | PE 17.7 | MCap ₹6,539 Cr
- Birla Corporation Ltd (BIRLACORPN): ₹786.2 | PE 10.9 | MCap ₹6,054 Cr
- JK Lakshmi Cement Ltd (JKLAKSHMI): ₹467.1 | PE 15.7 | MCap ₹5,799 Cr
- Midwest Gold Ltd (MIDWEST): — | PE — | MCap —
- Prism Johnson Ltd (PRSMJOHNSN): — | PE 36.4 | MCap ₹4,940 Cr
- Midwest Ltd (MIDWESTLTD): ₹1066.6 | PE 32.6 | MCap ₹3,857 Cr
- HeidelbergCement India Ltd (HEIDELBERG): — | PE — | MCap —
- Mangalam Cement Ltd (MANGLMCEM): ₹896 | PE 21.5 | MCap ₹2,464 Cr
- Orient Cement Ltd (ORIENTCEM): — | PE — | MCap —
- KCP Ltd (KCP): — | PE 11.0 | MCap ₹1,869 Cr
- Euro Pratik Sales Ltd (EUROPRATIK): ₹182.4 | PE 21.6 | MCap ₹1,864 Cr
- Sagar Cements Ltd (SAGCEM): — | PE — | MCap —
- IFGL Refractories Ltd (IFGLEXPOR): — | PE — | MCap —
- Shree Digvijay Cement Company Ltd (SHREDIGCEM): — | PE — | MCap ₹917 Cr
- NCL Industries Ltd (NCLIND): — | PE 6.3 | MCap ₹752 Cr
- Deccan Cements Ltd (DECCANCE): ₹483.8 | PE 115.2 | MCap ₹678 Cr
- Saurashtra Cement Ltd (SAURASHCEM): — | PE — | MCap —
- Shiva Cement Ltd (SHIVACEM): — | PE — | MCap —
- Kesoram Industries Ltd (KESORAMIND): — | PE — | MCap —
- Andhra Cements Ltd (ACL): — | PE — | MCap ₹342 Cr
- Anjani Portland Cement Ltd-$ (APCL): — | PE — | MCap ₹252 Cr
- Aviva Industries Ltd (AVIVA): — | PE — | MCap —
- Nidhi Granites Ltd (NIDHGRN): — | PE — | MCap —
- Shri Keshav Cements And Infra Ltd (SKCIL): — | PE — | MCap —
- Global Surfaces Ltd (GSLSU): — | PE — | MCap —
- Navkar Urbanstructure Ltd (NAVKARURB): — | PE 14.0 | MCap ₹95 Cr
- Pacific Industries Ltd (PACIFICI): — | PE 33.3 | MCap ₹91 Cr
- Manoj Ceramic Ltd (MCPL): — | PE 7.1 | MCap ₹86 Cr
- Barak Valley Cements Ltd (BVCL): — | PE — | MCap —
- Panyam Cements & Mineral Industries Ltd (PANCM): — | PE — | MCap —
- Nilachal Refractories Ltd (NILACHAL): — | PE — | MCap —
- Kakatiya Cement Sugar & Industries Ltd (KAKATCEM): — | PE — | MCap —
- Bheema Cements Ltd (BHEEMACEM): — | PE — | MCap —
- Keerthi Industries Ltd (KEERTHI): — | PE — | MCap ₹35 Cr
- Hemadri Cements Ltd (HEMACEM): — | PE — | MCap —
- Associated Ceramics Ltd (ASSOCER): — | PE — | MCap —
- Neelkanth Rockminerals Ltd (NEELKAN): — | PE — | MCap —
- Sri Chakra Cement Ltd (SRICC): — | PE — | MCap —
- Arigato Universe Ltd (ARIGATO): — | PE — | MCap —
- Inani Marbles & Industries Ltd (INANI): — | PE — | MCap —
- Shiva Granito Export Ltd (SHIVAEXPO): — | PE — | MCap ₹21 Cr
- Burnpur Cement Ltd (BURNPUR): — | PE — | MCap —
- Kotia Enterprises Ltd (KEL): — | PE — | MCap —
- Raw Edge Industrial Solutions Ltd (RAWEDGE): — | PE — | MCap —
- Solid Stone Company Ltd (SOLIDSTON): — | PE 28.8 | MCap ₹15 Cr
- Kachchh Minerals Ltd (KACHCHH): — | PE — | MCap —
- Janus Corporation Ltd (JANUSCORP): — | PE 11.2 | MCap ₹12 Cr
- Raasi Refractories Ltd-$ (RASSIREF): — | PE — | MCap —
- RCC Cements Ltd (RCCEMEN): — | PE — | MCap ₹8 Cr
- Jain Marmo Industries Ltd (JAINMARMO): — | PE — | MCap ₹7 Cr
- Agarwal Fortune India Ltd (AGARWAL): — | PE — | MCap —
- Integrated Thermoplastics Ltd (INTETHR): — | PE — | MCap —

## Analysis
India's cement industry is the second-largest globally at 580+ MTPA capacity. Housing accounts for 65% of demand, followed by infrastructure (25%) and commercial (10%). The industry has consolidated significantly — UltraTech, Adani Cement, Shree Cement, Dalmia Bharat, and Ambuja control over 55% of capacity. This consolidation is improving pricing discipline and margins. Per capita consumption at 250 kg is still half of the global average, offering long runway for growth. Key metrics: EBITDA per tonne (₹800-1200 for leaders), capacity utilization, and logistics cost as % of revenue. Green cement and waste heat recovery are emerging themes. The sector typically trades at 15-18x EV/EBITDA for leaders.

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Source: rupiya.io/sectors/cement
Disclaimer: For research and education only. Not investment advice.