Ramco Cements vs UltraTech Cement: Fair Value & Quality
Both stocks run through our valuation models. Here is how Ramco Cements (RAMCOCEM) and UltraTech Cement (ULTRACEMCO) compare, as of Aug 18, 2026.
As of Aug 18, 2026, Fair Value Calculator sees UltraTech Cement as the less overvalued of the two: Ramco Cements trades at ₹923 versus a fair value of ₹300 (-67%), while UltraTech Cement trades at ₹11,681 versus ₹4,718 (-60%).
Ramco Cements
RAMCOCEM.NSE · INR · Materials
-67%
upside to fair value
overvalued
Price₹923
Fair Value₹300
Quality50/100
UltraTech Cement
ULTRACEMCO.NSE · INR · Materials
-60%
upside to fair value
overvalued
Price₹11,681
Fair Value₹4,718
Quality55/100
Get comparisons like this free by email every month: the most undervalued quality stocks.
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
Ramco CementsUltraTech Cement
Valuation
31.2×P/E (TTM)42.2×
2.47×P/S (TTM)3.89×
2.75×P/B4.50×
17.3×EV/EBITDA21.0×
—PEG1.22×
0.3%Dividend yield0.7%
₹2.50Dividend per share—
Profitability
8%Net margin9%
7%Operating margin17%
9%Return on equity11%
3%Return on assets6%
Growth
9%Revenue growth (YoY)3%
3.4%Avg. growth/yr (3Y)11.9%
11.3%Avg. growth/yr (5Y)14.6%
Balance & size
0.35×Debt / equity0.20×
$2BMarket cap$36B
mixedGrowth qualitymixed
UltraTech Cement leads: 5 to 8 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
Ramco Cementsof which business quality 49 · market factors 44UltraTech Cementof which business quality 54 · market factors 52
ProfitabilityMargins and returns on capital today
38
46
Quality GrowthAre margins and returns improving?
44
60
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
66
37
Low VolatilityCalm price path (market factor)
88
91
MomentumPrice trend over the last 3–12 months (market factor)
29
35
52W MomentumDistance to the 52-week high (market factor)
20
38
Net IssuanceBuybacks instead of dilution
76
73
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
Ramco Cements
DCF Models₹310
Earnings-Based₹287
Dividend Discount₹38.25
Multiples₹501
Asset-Based₹229
Growth DCF₹190
Economic Profit₹234
Growth Earnings₹447
26 of 26 models see the stock below the current price.
UltraTech Cement
DCF Models₹4,856
Earnings-Based₹3,953
Dividend Discount₹1,476
Multiples₹4,719
Asset-Based₹1,745
Growth DCF₹4,014
Economic Profit₹3,582
Growth Earnings₹5,271
26 of 26 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
Ramco Cements
Bear ₹280Fair Value ₹300Bull ₹500
₹923 = current price (white tick)
UltraTech Cement
Bear ₹2,402Fair Value ₹4,718Bull ₹5,899
₹11,681 = current price (white tick)
Compare two other stocks
Tap a field and type again, ticker or company name.
Free, no sign-up
Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
Ramco Cements · Materials
Quality score50 · above median
Fair value upside-67% · bottom 25%
UltraTech Cement · Materials
Quality score55 · above median
Fair value upside-60% · bottom 25%
Bottom line
As of Aug 18, 2026, Fair Value Calculator sees UltraTech Cement as the less overvalued of the two: Ramco Cements trades at ₹923 versus a fair value of ₹300 (-67%), while UltraTech Cement trades at ₹11,681 versus ₹4,718 (-60%).
UltraTech Cement has the higher quality score (55/100).
Just your email for the monthly Top-25 report of the most undervalued quality stocks, with fair value, quality and price target. Plus 14 days of Pro to try, no card.
Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click. Not financial advice.
A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
