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

## Overview
Market Cap: ₹9,66,798 Cr
Avg P/E: 102.3
Avg ROE: -5.3%
Avg ROCE: 2.7%
1Y Return: +11.74%
Companies: 63

## Data Freshness
Sector Updated: 2026-05-25T14:00:46.622Z
Updated By: daily market-close sync and live stock-data refresh

## Companies
- UltraTech Cement Ltd (ULTRACEMCO): ₹11726 | PE 41.49 | MCap ₹3,37,996 Cr
- Grasim Industries Ltd (GRASIM): ₹3171.6 | PE 46 | MCap ₹1,98,872 Cr
- Ambuja Cements Ltd (AMBUJACEM): ₹441.95 | PE 28.96 | MCap ₹1,07,228 Cr
- Shree Cement Ltd (SHREECEM): ₹25355 | PE 52.44 | MCap ₹90,083 Cr
- JK Cement Ltd (JKCEMENT): ₹5441.5 | PE 41.32 | MCap ₹42,192 Cr
- Dalmia Bharat Ltd (DALBHARAT): ₹1822.6 | PE 28.06 | MCap ₹32,038 Cr
- ACC Ltd (ACC): ₹1382.3 | PE 11.89 | MCap ₹25,338 Cr
- The Ramco Cements Ltd (RAMCOCEM): ₹906.45 | PE 36.73 | MCap ₹21,151 Cr
- India Cements Ltd (INDIACEM): ₹403.5 | PE 0 | MCap ₹18,826 Cr
- JSW Cement Ltd (JSWCEMENT): ₹134.77 | PE 0 | MCap ₹16,450 Cr
- Nuvoco Vistas Corporation Ltd (NUVOCO): ₹324.15 | PE 31.19 | MCap ₹11,218 Cr
- Star Cement Ltd (STARCEMENT): ₹218.1 | PE 23.29 | MCap ₹8,585 Cr
- JK Lakshmi Cement Ltd (JKLAKSHMI): ₹614.6 | PE 17.27 | MCap ₹8,017 Cr
- Birla Corporation Ltd (BIRLACORPN): ₹1007.05 | PE 13.96 | MCap ₹7,788 Cr
- Prism Johnson Ltd (PRSMJOHNSN): ₹117.52 | PE 32.57 | MCap ₹6,361 Cr
- Midwest Gold Ltd (MIDWEST): ₹4457 | PE 0 | MCap ₹5,898 Cr
- Midwest Ltd (MIDWESTLTD): ₹1256.8 | PE 41.32 | MCap ₹4,812 Cr
- HeidelbergCement India Ltd (HEIDELBERG): ₹162.32 | PE 25.22 | MCap ₹3,509 Cr
- Orient Cement Ltd (ORIENTCEM): ₹138.67 | PE 8.21 | MCap ₹2,773 Cr
- Euro Pratik Sales Ltd (EUROPRATIK): ₹246.95 | PE 37.44 | MCap ₹2,655 Cr
- Sagar Cements Ltd (SAGCEM): ₹182.48 | PE 0 | MCap ₹2,309 Cr
- Mangalam Cement Ltd (MANGLMCEM): ₹842.9 | PE 28.16 | MCap ₹2,269 Cr
- KCP Ltd (KCP): ₹164.07 | PE 13.99 | MCap ₹2,092 Cr
- IFGL Refractories Ltd (IFGLEXPOR): ₹176.14 | PE 41.15 | MCap ₹1,184 Cr
- Shree Digvijay Cement Company Ltd (SHREDIGCEM): ₹71.53 | PE 42.47 | MCap ₹1,061 Cr
- Deccan Cements Ltd (DECCANCE): ₹607.9 | PE 25.81 | MCap ₹821 Cr
- NCL Industries Ltd (NCLIND): ₹170.65 | PE 12.59 | MCap ₹760 Cr
- Saurashtra Cement Ltd (SAURASHCEM): ₹61.26 | PE 24.12 | MCap ₹690 Cr
- Shiva Cement Ltd (SHIVACEM): ₹17.44 | PE 0 | MCap ₹525 Cr
- Andhra Cements Ltd (ACL): ₹55.25 | PE 0 | MCap ₹508 Cr
- Kesoram Industries Ltd (KESORAMIND): ₹13.22 | PE 0 | MCap ₹384 Cr
- Anjani Portland Cement Ltd-$ (APCL): ₹121.85 | PE 0 | MCap ₹340 Cr
- Shri Keshav Cements And Infra Ltd (SKCIL): ₹151 | PE 0 | MCap ₹284 Cr
- Nidhi Granites Ltd (NIDHGRN): ₹346 | PE 54.93 | MCap ₹267 Cr
- Global Surfaces Ltd (GSLSU): ₹54.04 | PE 0 | MCap ₹237 Cr
- Aviva Industries Ltd (AVIVA): ₹61.5 | PE 9.86 | MCap ₹199 Cr
- Manoj Ceramic Ltd (MCPL): ₹76 | PE 6.95 | MCap ₹105 Cr
- Pacific Industries Ltd (PACIFICI): ₹141 | PE 25.19 | MCap ₹99 Cr
- Kakatiya Cement Sugar & Industries Ltd (KAKATCEM): ₹124.95 | PE 0 | MCap ₹96 Cr
- Barak Valley Cements Ltd (BVCL): ₹42.81 | PE 4265 | MCap ₹95 Cr
- Panyam Cements & Mineral Industries Ltd (PANCM): ₹119 | PE 0 | MCap ₹95 Cr
- Navkar Urbanstructure Ltd (NAVKARURB): ₹0.85 | PE 0 | MCap ₹91 Cr
- Nilachal Refractories Ltd (NILACHAL): ₹40.5 | PE 0 | MCap ₹83 Cr
- Bheema Cements Ltd (BHEEMACEM): ₹16.15 | PE 0 | MCap ₹53 Cr
- Sri Chakra Cement Ltd (SRICC): ₹50.49 | PE 0 | MCap ₹44 Cr
- Keerthi Industries Ltd (KEERTHI): ₹47.67 | PE 0 | MCap ₹37 Cr
- Associated Ceramics Ltd (ASSOCER): ₹170.25 | PE 14.23 | MCap ₹36 Cr
- Arigato Universe Ltd (ARIGATO): ₹64.2 | PE 35.08 | MCap ₹36 Cr
- Hemadri Cements Ltd (HEMACEM): ₹50.88 | PE 0 | MCap ₹34 Cr
- Inani Marbles & Industries Ltd (INANI): ₹11.2 | PE 0 | MCap ₹21 Cr
- Raw Edge Industrial Solutions Ltd (RAWEDGE): ₹20.45 | PE 0 | MCap ₹20 Cr
- Kotia Enterprises Ltd (KEL): ₹94 | PE 0 | MCap ₹20 Cr
- Shiva Granito Export Ltd (SHIVAEXPO): ₹13.5 | PE 1199 | MCap ₹16 Cr
- Kachchh Minerals Ltd (KACHCHH): ₹27.27 | PE 0 | MCap ₹15 Cr
- Solid Stone Company Ltd (SOLIDSTON): ₹26.9 | PE 35.65 | MCap ₹14 Cr
- Janus Corporation Ltd (JANUSCORP): ₹4.72 | PE 18.88 | MCap ₹12 Cr
- Neelkanth Rockminerals Ltd (NEELKAN): ₹21.68 | PE 29.35 | MCap ₹11 Cr
- Burnpur Cement Ltd (BURNPUR): ₹6.66 | PE 0 | MCap ₹11 Cr
- Agarwal Fortune India Ltd (AGARWAL): ₹23 | PE 43.64 | MCap ₹8 Cr
- RCC Cements Ltd (RCCEMEN): ₹14.95 | PE 0 | MCap ₹8 Cr
- Jain Marmo Industries Ltd (JAINMARMO): ₹22.05 | PE 0 | MCap ₹7 Cr
- Raasi Refractories Ltd-$ (RASSIREF): ₹14.41 | PE 1.5 | MCap ₹7 Cr
- Integrated Thermoplastics Ltd (INTETHR): ₹6.06 | PE 0 | MCap ₹4 Cr

## 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.