3 North East Cement Leader, Largest Cement Maker and Leading Tile Manufacturer Stocks With a Strong Future Roadmap: Star Cement, UltraTech Cement and Kajaria Ceramics
- October 26, 2026
- Posted by: Kunal Singla
- Category: Best Stocks
Star Cement, UltraTech Cement and Kajaria Ceramics: ROE of 10.7% to 15.8% and FY22 to FY26 revenue CAGR of 6.9% to 13.9%. Prices as of 23 Oct 2026.
Quick Answer
The three cement and ceramic tile building material stocks to watch are Star Cement, UltraTech Cement and Kajaria Ceramics. Their return on equity ranges from 10.7% to 15.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 6.9% to 13.9%. Kajaria Ceramics has the highest return on equity at 15.8%, while Star Cement has the fastest revenue growth at 13.9% a year. Prices are based on the 23 October 2026 close, and this article is educational, not investment advice.
Cement and ceramic tile building material stocks let investors follow companies that supply the core materials for homes and infrastructure. Star Cement, UltraTech Cement and Kajaria Ceramics cover a North East cement leader, the largest cement maker and a leading tile manufacturer.
This list covers three cement and ceramic tile building material stocks with complete current figures: Star Cement, UltraTech Cement and Kajaria Ceramics. Every figure comes from the latest reported financials and the 23 October 2026 market close. Companies without complete current figures were left out.
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What Are Cement and Ceramic Tile Building Material Stocks?
Cement and ceramic tile building material stocks are listed companies that make cement and floor and wall tiles for housing, commercial buildings and infrastructure. Their earnings depend on construction activity, prices, capacity use and fuel and gas costs.
Cement and Ceramic Tile Building Material Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Star Cement | 160.19 | 6,481 | 17.7 | 29.6 | 12.3 | 0.19 |
| UltraTech Cement | 11,050 | 312,952 | 35.4 | 29.1 | 10.7 | 0.31 |
| Kajaria Ceramics | 1,136.6 | 18,977 | 34.6 | 31.1 | 15.8 | 0.07 |
On valuation, Star Cement trades at a P/E below the industry P/E, while UltraTech Cement and Kajaria Ceramics trade above it, which reflects the growth the market already expects. Readers comparing cement and ceramic tile building material stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Cement and Ceramic Tile Building Material Stocks Have a Strong Roadmap in India?
Cement and ceramic tile building material stocks have a strong roadmap in India because housing demand, road and rail projects and rising spending on home finishing keep lifting consumption of building materials.
- Housing demand. New homes and renovations use cement and tiles.
- Infrastructure projects. Roads, rail and ports consume large volumes of cement.
- Premium finishes. Buyers upgrade to larger and better tiles.
Why Star Cement Features Among These Cement and Ceramic Tile Building Material Stocks
Among the cement and ceramic tile building material stocks on this list, Star Cement is a leading cement maker in India’s North East, producing cement at plants in Meghalaya and Assam and selling across the region and in eastern India.
In the June 2026 quarter, revenue grew 4.1% year on year to Rs 951 crore. Revenue rose from Rs 2,255 crore in FY22 to Rs 3,796 crore in FY26, a compound annual growth rate of 13.9%.
Net profit grew from Rs 247 crore in FY22 to Rs 390 crore in FY26, which works out to a compound annual growth rate of 12.2%. The company has a return on equity of 12.3%, a debt to equity ratio of 0.19 and a market capitalisation of Rs 6,481 crore. The stock trades at a P/E of 17.7, below the industry P/E of 29.6.
Roadmap: The company is expanding capacity and widening its reach in eastern India, while infrastructure and housing spending in the North East supports demand. Its strong regional position helps pricing.
What to watch: Follow regional cement prices, capacity expansion and fuel and freight costs.
Why UltraTech Cement Features Among These Cement and Ceramic Tile Building Material Stocks
Among the construction materials maker shares on this list, UltraTech Cement is an Aditya Birla Group company and India’s largest cement maker by capacity, selling grey and white cement, ready-mix concrete and building products across the country.
The company has a return on equity of 10.7%, a debt to equity ratio of 0.31 and a market capitalisation of Rs 312,952 crore. The stock trades at a P/E of 35.4, above the industry P/E of 29.1.
Revenue rose from Rs 53,107 crore in FY22 to Rs 89,089 crore in FY26, a compound annual growth rate of 13.8%. Net profit grew from Rs 5,073 crore in FY23 to Rs 8,188 crore in FY26, which works out to a compound annual growth rate of 17.3%.
Roadmap: The company is adding capacity across regions and building its building solutions business, which positions it to benefit from housing and infrastructure spending. Its scale gives it a cost and logistics edge.
What to watch: Track cement demand and prices, capacity additions and fuel costs.
Why Kajaria Ceramics Features Among These Cement and Ceramic Tile Building Material Stocks
Among the three companies on this list, Kajaria Ceramics is India’s largest ceramic and vitrified tile maker, with plants across several states and a large dealer network.
Revenue rose from Rs 3,733 crore in FY22 to Rs 4,883 crore in FY26, a compound annual growth rate of 6.9%. Net profit grew from Rs 383 crore in FY22 to Rs 490 crore in FY26, which works out to a compound annual growth rate of 6.4%.
In the June 2026 quarter, revenue grew 20.5% year on year to Rs 1,345 crore, while net profit rose 55.0% to Rs 171 crore. The company has a return on equity of 15.8%, a debt to equity ratio of 0.07 and a market capitalisation of Rs 18,977 crore. The stock trades at a P/E of 34.6, above the industry P/E of 31.1.
Roadmap: The company has added capacity in tiles and widened into adhesives, sanitaryware and faucets, which allows it to sell more products to each customer. Demand from housing, redevelopment and commercial building supports tile volumes.
What to watch: Check the capacity utilisation in newer plants and growth in the bath products business.
Star Cement vs UltraTech Cement vs Kajaria Ceramics on Key Financials
The table below sets the three cement and ceramic tile building material stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Star Cement | 2,255 | 3,796 | 13.9% | 390 | 10.3% |
| UltraTech Cement | 53,107 | 89,089 | 13.8% | 8,188 | 9.2% |
| Kajaria Ceramics | 3,733 | 4,883 | 6.9% | 490 | 10.0% |
Kajaria Ceramics posts the highest return on equity in this group at 15.8%. UltraTech Cement has the largest FY26 revenue at Rs 89,089 crore, and Star Cement shows the fastest revenue growth with a 13.9% compound annual rate. A useful habit with cement and ceramic tile building material stocks is to check each new quarterly result against the capacity plans the company described earlier.
Key Risks to Check Before Investing in Cement and Ceramic Tile Building Material Stocks
Every theme carries risks that deserve a check before any decision. For these cement and ceramic tile building material stocks, the main points are: Long-term construction materials maker shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Fuel and gas costs. Energy prices influence production costs.
- Pricing pressure. Regional supply can affect cement and tile prices.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter cement and ceramic tile building material stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Cement and Ceramic Tile Building Material Stocks
Cement and ceramic tile building material stocks reward investors who follow construction demand, pricing and fuel costs together. Star Cement, UltraTech Cement and Kajaria Ceramics each have a clear plan to expand. Based on the 23 October 2026 close, Star Cement trades at Rs 160.19, UltraTech Cement at Rs 11,050 and Kajaria Ceramics at Rs 1,136.6.
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Disclaimer: Data and figures in this article are sourced from publicly available information. 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).
What are cement and ceramic tile building material stocks?
Ans. Cement and ceramic tile building material stocks are listed companies that make cement and floor and wall tiles for housing, commercial buildings and infrastructure. Their earnings depend on construction activity, prices, capacity use and fuel and gas costs. This list looks at three of them, Star Cement, UltraTech Cement and Kajaria Ceramics, using reported FY22 to FY26 financials and the 23 October 2026 closing prices.
Which cement and ceramic tile building material stocks are covered in this list?
Ans. This list covers Star Cement, UltraTech Cement and Kajaria Ceramics. Based on the 23 October 2026 close, Star Cement traded at Rs 160.19, UltraTech Cement at Rs 11,050 and Kajaria Ceramics at Rs 1,136.6. Their return on equity ranges from 10.7% to 15.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 6.9% to 13.9%.
Why do cement and ceramic tile building material stocks have a strong future roadmap in India?
Ans. Cement and ceramic tile building material stocks have a strong roadmap in India because housing demand, road and rail projects and rising spending on home finishing keep lifting consumption of building materials. The main drivers are as follows. Housing demand. New homes and renovations use cement and tiles. Infrastructure projects. Roads, rail and ports consume large volumes of cement. Premium finishes. Buyers upgrade to larger and better tiles. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Star Cement performed financially?
Ans. Revenue rose from Rs 2,255 crore in FY22 to Rs 3,796 crore in FY26, a compound annual growth rate of 13.9%. Net profit grew from Rs 247 crore in FY22 to Rs 390 crore in FY26, which works out to a compound annual growth rate of 12.2%. In the June 2026 quarter, revenue grew 4.1% year on year to Rs 951 crore. The company has a return on equity of 12.3%, a debt to equity ratio of 0.19 and a market capitalisation of Rs 6,481 crore. The stock trades at a P/E of 17.7, below the industry P/E of 29.6. Looking ahead, the company is expanding capacity and widening its reach in eastern India, while infrastructure and housing spending in the North East supports demand. Its strong regional position helps pricing.
How has UltraTech Cement performed financially?
Ans. Revenue rose from Rs 53,107 crore in FY22 to Rs 89,089 crore in FY26, a compound annual growth rate of 13.8%. Net profit grew from Rs 5,073 crore in FY23 to Rs 8,188 crore in FY26, which works out to a compound annual growth rate of 17.3%. The company has a return on equity of 10.7%, a debt to equity ratio of 0.31 and a market capitalisation of Rs 312,952 crore. The stock trades at a P/E of 35.4, above the industry P/E of 29.1. Looking ahead, the company is adding capacity across regions and building its building solutions business, which positions it to benefit from housing and infrastructure spending. Its scale gives it a cost and logistics edge.
How has Kajaria Ceramics performed financially?
Ans. Revenue rose from Rs 3,733 crore in FY22 to Rs 4,883 crore in FY26, a compound annual growth rate of 6.9%. Net profit grew from Rs 383 crore in FY22 to Rs 490 crore in FY26, which works out to a compound annual growth rate of 6.4%. In the June 2026 quarter, revenue grew 20.5% year on year to Rs 1,345 crore, while net profit rose 55.0% to Rs 171 crore. The company has a return on equity of 15.8%, a debt to equity ratio of 0.07 and a market capitalisation of Rs 18,977 crore. The stock trades at a P/E of 34.6, above the industry P/E of 31.1. Looking ahead, the company has added capacity in tiles and widened into adhesives, sanitaryware and faucets, which allows it to sell more products to each customer. Demand from housing, redevelopment and commercial building supports tile volumes.
What risks should investors check before buying cement and ceramic tile building material stocks?
Ans. Investors should check a few risks before buying cement and ceramic tile building material stocks. Fuel and gas costs. Energy prices influence production costs. Pricing pressure. Regional supply can affect cement and tile prices. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of cement and ceramic tile building material stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 23 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
