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

## Overview
Market Cap: ₹6,12,900 Cr
Avg P/E: 27.8
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): ₹10939.1 | PE 37.3 | MCap ₹3,22,352 Cr
- Grasim Industries Ltd (GRASIM): ₹3292.4 | PE 38.9 | MCap ₹2,23,114 Cr
- Ambuja Cements Ltd (AMBUJACEM): ₹398.4 | PE — | MCap —
- Shree Cement Ltd (SHREECEM): ₹22780.5 | PE — | MCap —
- JK Cement Ltd (JKCEMENT): ₹4930.5 | PE 38.3 | MCap ₹37,382 Cr
- Dalmia Bharat Ltd (DALBHARAT): ₹1719.35 | PE — | MCap —
- ACC Ltd (ACC): ₹1257.7 | PE — | MCap —
- The Ramco Cements Ltd (RAMCOCEM): ₹872.7 | PE — | MCap —
- JSW Cement Ltd (JSWCEMENT): — | PE 20.9 | MCap ₹16,504 Cr
- India Cements Ltd (INDIACEM): ₹351.6 | PE — | MCap —
- Nuvoco Vistas Corporation Ltd (NUVOCO): ₹337.55 | PE — | MCap —
- Star Cement Ltd (STARCEMENT): — | PE — | MCap —
- Birla Corporation Ltd (BIRLACORPN): ₹838.4 | PE — | MCap —
- JK Lakshmi Cement Ltd (JKLAKSHMI): ₹497.65 | PE — | MCap —
- Prism Johnson Ltd (PRSMJOHNSN): — | PE — | MCap —
- Midwest Gold Ltd (MIDWEST): — | PE — | MCap —
- Midwest Ltd (MIDWESTLTD): ₹1061.95 | PE 34.6 | MCap ₹3,843 Cr
- HeidelbergCement India Ltd (HEIDELBERG): — | PE — | MCap —
- Mangalam Cement Ltd (MANGLMCEM): ₹1060.25 | PE — | MCap —
- Orient Cement Ltd (ORIENTCEM): — | PE — | MCap —
- Euro Pratik Sales Ltd (EUROPRATIK): — | PE 29.1 | MCap ₹2,510 Cr
- KCP Ltd (KCP): — | PE 11.8 | MCap ₹2,090 Cr
- Sagar Cements Ltd (SAGCEM): — | PE — | MCap ₹1,973 Cr
- IFGL Refractories Ltd (IFGLEXPOR): — | PE 35.0 | MCap ₹1,436 Cr
- Shree Digvijay Cement Company Ltd (SHREDIGCEM): — | PE — | MCap —
- NCL Industries Ltd (NCLIND): — | PE 6.5 | MCap ₹809 Cr
- Deccan Cements Ltd (DECCANCE): ₹565.7 | PE — | MCap —
- Saurashtra Cement Ltd (SAURASHCEM): — | PE — | MCap —
- Shiva Cement Ltd (SHIVACEM): — | PE — | MCap —
- Andhra Cements Ltd (ACL): — | PE — | MCap —
- Kesoram Industries Ltd (KESORAMIND): — | PE — | MCap ₹349 Cr
- Anjani Portland Cement Ltd-$ (APCL): — | PE — | MCap ₹291 Cr
- Nidhi Granites Ltd (NIDHGRN): ₹267 | PE — | MCap —
- Aviva Industries Ltd (AVIVA): — | PE — | MCap —
- Shri Keshav Cements And Infra Ltd (SKCIL): — | PE — | MCap —
- Manoj Ceramic Ltd (MCPL): — | PE — | MCap —
- Global Surfaces Ltd (GSLSU): — | PE — | MCap ₹119 Cr
- Navkar Urbanstructure Ltd (NAVKARURB): — | PE — | MCap —
- Pacific Industries Ltd (PACIFICI): — | PE 35.0 | MCap ₹96 Cr
- Barak Valley Cements Ltd (BVCL): — | PE — | MCap —
- Panyam Cements & Mineral Industries Ltd (PANCM): — | PE — | MCap —
- Kakatiya Cement Sugar & Industries Ltd (KAKATCEM): — | PE — | MCap —
- Nilachal Refractories Ltd (NILACHAL): — | PE — | MCap —
- Bheema Cements Ltd (BHEEMACEM): — | PE — | MCap —
- Sri Chakra Cement Ltd (SRICC): — | PE — | MCap —
- Arigato Universe Ltd (ARIGATO): — | PE — | MCap —
- Associated Ceramics Ltd (ASSOCER): — | PE — | MCap —
- Burnpur Cement Ltd (BURNPUR): — | PE — | MCap —
- Hemadri Cements Ltd (HEMACEM): — | PE — | MCap —
- Keerthi Industries Ltd (KEERTHI): — | PE — | MCap —
- Neelkanth Rockminerals Ltd (NEELKAN): — | PE — | MCap —
- Kotia Enterprises Ltd (KEL): — | PE — | MCap —
- Inani Marbles & Industries Ltd (INANI): — | PE — | MCap —
- Kachchh Minerals Ltd (KACHCHH): — | PE — | MCap —
- Raw Edge Industrial Solutions Ltd (RAWEDGE): — | PE — | MCap —
- Solid Stone Company Ltd (SOLIDSTON): — | PE — | MCap —
- Shiva Granito Export Ltd (SHIVAEXPO): — | PE — | MCap ₹13 Cr
- Janus Corporation Ltd (JANUSCORP): — | PE 18.9 | MCap ₹12 Cr
- RCC Cements Ltd (RCCEMEN): — | PE — | MCap —
- Raasi Refractories Ltd-$ (RASSIREF): — | PE — | MCap —
- Agarwal Fortune India Ltd (AGARWAL): — | PE — | MCap —
- Jain Marmo Industries Ltd (JAINMARMO): — | PE — | MCap ₹7 Cr
- 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.

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