Engro Corporation vs UltraTech Cement: Fair Value & Quality
Both stocks run through our valuation models. Here is how Engro Corporation (S44) and UltraTech Cement (ULTRACEMCO) compare, as of Aug 18, 2026.
As of Aug 18, 2026, Fair Value Calculator sees Engro Corporation as the less overvalued of the two: Engro Corporation trades at S$1.45 versus a fair value of S$1.14 (-21%), while UltraTech Cement trades at ₹11,681 versus ₹4,718 (-60%).
Engro Corporation
S44.SG · SGD · Materials
-21%
upside to fair value
overvalued
PriceS$1.45
Fair ValueS$1.14
Quality65/100
UltraTech Cement
ULTRACEMCO.NSE · INR · Materials
-60%
upside to fair value
overvalued
Price₹11,681
Fair Value₹4,718
Quality55/100
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Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
Engro CorporationUltraTech Cement
Valuation
9.7×P/E (TTM)42.2×
0.42×P/S (TTM)3.89×
0.39×P/B4.50×
2.1×EV/EBITDA21.0×
—PEG1.22×
2.7%Dividend yield0.7%
S$0.03Dividend per share—
Profitability
7%Net margin9%
7%Operating margin17%
7%Return on equity11%
2%Return on assets6%
Growth
43%Revenue growth (YoY)3%
23.0%Avg. growth/yr (3Y)11.9%
20.6%Avg. growth/yr (5Y)14.6%
Balance & size
—Debt / equity0.20×
$106MMarket cap$36B
healthyGrowth qualitymixed
Engro Corporation leads: 8 to 4 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.
Engro Corporationof which business quality 63 · market factors 93UltraTech Cementof which business quality 54 · market factors 52
ProfitabilityMargins and returns on capital today
36
46
Quality GrowthAre margins and returns improving?
69
60
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
91
37
Low VolatilityCalm price path (market factor)
85
91
MomentumPrice trend over the last 3–12 months (market factor)
95
35
52W MomentumDistance to the 52-week high (market factor)
100
38
Net IssuanceBuybacks instead of dilution
82
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.
Engro Corporation
DCF ModelsS$2.09
Earnings-BasedS$1.71
MultiplesS$2.25
Asset-BasedS$1.52
Growth DCFS$1.84
Economic ProfitS$1.34
Growth EarningsS$2.49
3 of 24 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.
Engro Corporation
Bear S$0.87Fair Value S$1.14Bull S$1.58
S$1.45 = current price (white tick)
UltraTech Cement
Bear ₹2,402Fair Value ₹4,718Bull ₹5,899
₹11,681 = current price (white tick)
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
Engro Corporation · Materials
Quality score65 · Top 25%
Fair value upside-21% · above median
UltraTech Cement · Materials
Quality score55 · above median
Fair value upside-60% · bottom 25%
Bottom line
As of Aug 18, 2026, Fair Value Calculator sees Engro Corporation as the less overvalued of the two: Engro Corporation trades at S$1.45 versus a fair value of S$1.14 (-21%), while UltraTech Cement trades at ₹11,681 versus ₹4,718 (-60%).
Engro Corporation has the higher quality score (65/100).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
