Star Cement vs UltraTech Cement: Fair Value & Quality
Both stocks run through our valuation models. Here is how Star Cement (STARCEMENT) and UltraTech Cement (ULTRACEMCO) compare, as of Aug 18, 2026.
As of Aug 18, 2026, Fair Value Calculator sees Star Cement as the less overvalued of the two: Star Cement trades at ₹199 versus a fair value of ₹136 (-32%), while UltraTech Cement trades at ₹11,681 versus ₹4,718 (-60%).
Star Cement
STARCEMENT.NSE · INR · Materials
-32%
upside to fair value
overvalued
Price₹199
Fair Value₹136
Quality64/100
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).
Star CementUltraTech Cement
Valuation
20.4×P/E (TTM)42.2×
2.23×P/S (TTM)3.89×
2.64×P/B4.50×
9.5×EV/EBITDA21.0×
—PEG1.22×
1.0%Dividend yield0.7%
₹2.00Dividend per share—
Profitability
10%Net margin9%
18%Operating margin17%
13%Return on equity11%
8%Return on assets6%
Growth
12%Revenue growth (YoY)3%
13.6%Avg. growth/yr (3Y)11.9%
17.1%Avg. growth/yr (5Y)14.6%
Balance & size
0.16×Debt / equity0.20×
$884MMarket cap$36B
healthyGrowth qualitymixed
Star Cement leads: 13 to 0 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.
Star Cementof which business quality 63 · market factors 38UltraTech Cementof which business quality 54 · market factors 52
ProfitabilityMargins and returns on capital today
59
46
Quality GrowthAre margins and returns improving?
69
60
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
40
37
Low VolatilityCalm price path (market factor)
91
91
MomentumPrice trend over the last 3–12 months (market factor)
24
35
52W MomentumDistance to the 52-week high (market factor)
1
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.
Star Cement
DCF Models₹156
Earnings-Based₹117
Dividend Discount₹35.19
Multiples₹165
Asset-Based₹52.90
Growth DCF₹134
Economic Profit₹113
Growth Earnings₹167
22 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.
Star Cement
Bear ₹70.37Fair Value ₹136Bull ₹207
₹199 = 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.
Star Cement · Materials
Quality score64 · Top 25%
Fair value upside-32% · below 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 Star Cement as the less overvalued of the two: Star Cement trades at ₹199 versus a fair value of ₹136 (-32%), while UltraTech Cement trades at ₹11,681 versus ₹4,718 (-60%).
Star Cement has the higher quality score (64/100).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
