Ambuja Cements vs Dalmia Bharat: Share Price, Comparison and Key Differences
- August 10, 2026
- Posted by: Neeraj Pandey
- Category: News
Ambuja Cements MCap Rs 1,08,462 Cr, PE 20.77x, ROE 7.97%, D/E 0.01, Div 0.46%. Dalmia Bharat MCap approx Rs 30,000 Cr, PE approx 40x, ROE approx 7%.
Ambuja Cements vs Dalmia Bharat is a comparison cement investors look up when evaluating two large-cap Indian cement companies with distinct ownership and regional strategies. Ambuja Cements, now part of the Adani Group after its acquisition from Holcim in 2022, is India’s second largest cement company alongside ACC, with a combined installed capacity of over 70 MMTPA. Dalmia Bharat is a Rajan Dalmia-promoted cement company with a strong presence in South, East and North-East India and a stated goal of reaching 100 MMTPA capacity.
This Ambuja Cements vs Dalmia Bharat article covers reach and market position, key products, latest declared results and stock valuation. The Ambuja Cements vs Dalmia Bharat data below is sourced from Groww and public company filings and reflects the most recently available information at the time of writing.
Ambuja Cements vs Dalmia Bharat: Reach and Market Position
On the Ambuja Cements side of the Ambuja Cements vs Dalmia Bharat comparison, Ambuja Cements operates plants across West, North and Central India. Under Adani ownership, it has been aggressively integrating ACC and pursuing capex for capacity expansion. Market capitalisation is Rs 1,08,462 Cr.
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On the Dalmia Bharat side of the Ambuja Cements vs Dalmia Bharat comparison, Dalmia Bharat operates plants in South India (Andhra Pradesh, Odisha), East India (Bihar) and North-East India – regions where it has market leadership and lower competitive intensity. Market capitalisation is approximately Rs 30,000 Cr.
Ambuja Cements vs Dalmia Bharat: Key Products and Business Mix
In the Ambuja Cements vs Dalmia Bharat product comparison, Ambuja Cements offers: Ambuja Cements earns from grey cement, ready-mix concrete, white cement and construction solutions. PE is 20.77x, ROE 7.97 percent, D/E 0.01. Dividend yield is 0.46 percent.
For Dalmia Bharat in this Ambuja Cements vs Dalmia Bharat breakdown: Dalmia Bharat earns from blended cement, ordinary Portland cement and specialty cements. PE is approximately 40x, ROE approximately 7 percent. Dalmia has been investing heavily in capacity with greenfield and brownfield additions.
Ambuja Cements vs Dalmia Bharat: Latest Results
The Ambuja Cements vs Dalmia Bharat results for Ambuja Cements: Ambuja Cements has a market cap of Rs 1,08,462 Cr and PE of 20.77x. ROE is 7.97 percent, reflecting ongoing integration and the cement sector’s capital-intensive nature. Near-zero debt and Adani Group backing.
The Ambuja Cements vs Dalmia Bharat results for Dalmia Bharat: Dalmia Bharat has a market cap of approximately Rs 30,000 Cr at an elevated PE of approximately 40x due to high capex investments temporarily depressing earnings. ROE is approximately 7 percent similar to Ambuja. Ambuja Cements is approximately 3.6 times larger by market cap.
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Ambuja Cements vs Dalmia Bharat: Stock and Valuation
The Ambuja Cements vs Dalmia Bharat stock comparison uses the latest available market data from Groww. Investors tracking Ambuja Cements vs Dalmia Bharat should verify current prices on NSE or BSE before trading.
Ambuja Cements vs Dalmia Bharat at current valuations: Ambuja Cements trades at Rs 1,08,462 Cr market cap, PE 20.77x, ROE 7.97 percent. Dalmia Bharat trades at approximately Rs 30,000 Cr market cap, PE approximately 40x, ROE approximately 7 percent. Ambuja is far larger and cheaper on PE. Dalmia’s elevated PE reflects its capacity expansion investment cycle.
Ambuja Cements vs Dalmia Bharat: Quick Comparison Table
The Ambuja Cements vs Dalmia Bharat comparison table below summarises the key metrics covered in this article side by side.
| Parameter | Ambuja Cements | Dalmia Bharat |
|---|---|---|
| Sector | Large-cap cement: North, West, Central India | Large-cap cement: South, East, North-East India |
| Market Cap | Rs 1,08,462 Cr | approximately Rs 30,000 Cr (approx) |
| P/E Ratio | 20.77x | approximately 40x (capex phase) |
| ROE | 7.97% | approximately 7% (approx) |
| Debt to Equity | 0.01 | Moderate (capex funded) |
| Ownership | Adani Group | Dalmia family |
| Dividend Yield | 0.46% | Minimal |
Conclusion
The Ambuja Cements vs Dalmia Bharat comparison above covers the key data points on reach, products, results and valuation. Ambuja Cements vs Dalmia Bharat covers two large-cap cement companies at different scale and regional positioning. Ambuja is an Adani Group-backed cement giant integrating with ACC under a pan-India strategy. Dalmia Bharat is a focused South and East India leader with an ambitious capacity expansion plan. Ambuja Cements vs Dalmia Bharat investors should review cement pricing in respective geographies, utilisation levels, capex programmes and raw material costs. Ambuja Cements vs Dalmia Bharat are both solid cement market leaders – consult a SEBI-registered advisor for personalised guidance.
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Disclaimer: Data and figures in this article are sourced from publicly available information, including company results filings and exchange data, and are current as of the time of writing. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
Did Adani Group acquire Ambuja Cements?
Ans. Yes. In 2022, the Adani Group acquired Holcim’s India operations including Ambuja Cements and ACC, making it the second-largest cement manufacturer in India.
What is Dalmia Bharat’s capacity expansion plan?
Ans. Dalmia Bharat has announced plans to expand its cement capacity toward 100 million tonnes per annum, with greenfield plants in South and East India and brownfield expansions at existing sites.
Why are cement ROEs low?
Ans. Cement is a capital-intensive, commodity-like business where margins fluctuate with pricing, energy costs and volumes. ROEs of 7 to 12 percent are typical for most cement companies in the absence of pricing power.
Is Ambuja Cements in Nifty 50?
Ans. Yes. Ambuja Cements is a constituent of Nifty 50. Dalmia Bharat is not in Nifty 50.
What is blended cement?
Ans. Blended cement uses supplementary cementitious materials like fly ash or slag to replace a portion of clinker. It is more carbon-efficient and is used for most construction applications.
Does Ambuja Cements pay dividends?
Ans. Yes. Ambuja Cements pays a dividend yield of approximately 0.46 percent.
Which is larger, Ambuja or Dalmia?
Ans. Ambuja Cements is significantly larger at Rs 1,08,462 Cr versus Dalmia Bharat at approximately Rs 30,000 Cr.
