{"id":320172,"date":"2026-10-21T13:16:07","date_gmt":"2026-10-21T07:46:07","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=320172"},"modified":"2026-10-21T13:16:07","modified_gmt":"2026-10-21T07:46:07","slug":"ultratech-bets-on-higher-prices-as-input-costs-bite","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/ultratech-bets-on-higher-prices-as-input-costs-bite\/","title":{"rendered":"UltraTech Cement Share Price: Why the Company Is Betting on Higher Prices as Input Costs Bite After Q2 FY27"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>The UltraTech Cement share price traded at Rs 10,797 on NSE at 12:51 PM IST on 21 Oct 2026, up 1.38% from Rs 10,650, after the Q2 FY27 results announced on 19 Oct. Net profit rose 21.3% to Rs 1,501 crore but missed the LSEG estimate of about Rs 1,705 crore, while the cost of materials and the cost of power and fuel each rose about 24% against net sales growth of 18.9%. I found no management statement in the Q2 sources that says the company is betting on higher prices, so that part of the headline rests on analyst estimates of price hikes.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">The UltraTech Cement share price traded at Rs 10,797 on NSE at 12:51 PM IST on 21 Oct 2026, up 1.4% from Rs 10,650, after falling on 19 Oct when the Q2 FY27 results were announced. Net profit rose 21.3% to Rs 1,501 crore but missed the LSEG estimate of about Rs 1,705 crore, because the cost of materials and the cost of power and fuel each rose about 24% against net sales growth of 18.9%. Operating EBITDA per tonne rose Rs 60 from a year earlier to Rs 974, and JM Financial estimated that average cement prices rose Rs 6 to Rs 7 per bag in late September as producers passed on fuel costs. The stock trades at 35.4 times earnings against an industry figure of 29.1 and about 3.2% below its 50-day average, so price hikes and festive demand are the next tests.<\/p>\n<\/p><\/div>\n<p>The UltraTech Cement share price opened at Rs 10,822 on 21 Oct and has held between Rs 10,717 and Rs 10,959 so far. On 19 Oct, the day the results were announced, the stock swung between Rs 11,219 and Rs 10,551 and closed at Rs 10,650 on NSE. Business Standard reported a fall of as much as 5.3% from the day&#8217;s high, and the Sensex fell 1.17% that day.<\/p>\n<p>This guide to the UltraTech Cement share price covers the live snapshot, the Q2 FY27 numbers, how input costs and price hikes interact, capacity, valuation against peers and the levels to watch. It is educational and not a recommendation to buy or sell any share.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=ultratech-bets-on-higher-prices-as-input-costs-bite\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/ultratech-bets-on-higher-prices-as-input-costs-bite\/#UltraTech_Cement_Share_Price_Today_Live_Snapshot\" title=\"UltraTech Cement Share Price Today: Live Snapshot\">UltraTech Cement Share Price Today: Live Snapshot<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/ultratech-bets-on-higher-prices-as-input-costs-bite\/#Q2_FY27_Results_Behind_the_UltraTech_Cement_Share_Price\" title=\"Q2 FY27 Results Behind the UltraTech Cement Share Price\">Q2 FY27 Results Behind the UltraTech Cement Share Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/ultratech-bets-on-higher-prices-as-input-costs-bite\/#Input_Costs_and_Cement_Prices_The_Pressure_on_the_UltraTech_Cement_Share_Price\" title=\"Input Costs and Cement Prices: The Pressure on the UltraTech Cement Share Price\">Input Costs and Cement Prices: The Pressure on the UltraTech Cement Share Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/ultratech-bets-on-higher-prices-as-input-costs-bite\/#Capacity_Green_Power_and_Growth_Behind_the_UltraTech_Cement_Share_Price\" title=\"Capacity, Green Power and Growth Behind the UltraTech Cement Share Price\">Capacity, Green Power and Growth Behind the UltraTech Cement Share Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/ultratech-bets-on-higher-prices-as-input-costs-bite\/#Valuation_of_the_UltraTech_Cement_Share_Price_Against_Peers\" title=\"Valuation of the UltraTech Cement Share Price Against Peers\">Valuation of the UltraTech Cement Share Price Against Peers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/ultratech-bets-on-higher-prices-as-input-costs-bite\/#What_to_Watch_Next_for_the_UltraTech_Cement_Share_Price\" title=\"What to Watch Next for the UltraTech Cement Share Price\">What to Watch Next for the UltraTech Cement Share Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/ultratech-bets-on-higher-prices-as-input-costs-bite\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/ultratech-bets-on-higher-prices-as-input-costs-bite\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/ultratech-bets-on-higher-prices-as-input-costs-bite\/#What_is_the_UltraTech_Cement_share_price_today\" title=\"What is the UltraTech Cement share price today?\">What is the UltraTech Cement share price today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/ultratech-bets-on-higher-prices-as-input-costs-bite\/#Why_did_the_UltraTech_Cement_share_price_fall_after_Q2_results\" title=\"Why did the UltraTech Cement share price fall after Q2 results?\">Why did the UltraTech Cement share price fall after Q2 results?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/ultratech-bets-on-higher-prices-as-input-costs-bite\/#Is_UltraTech_betting_on_higher_cement_prices\" title=\"Is UltraTech betting on higher cement prices?\">Is UltraTech betting on higher cement prices?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/ultratech-bets-on-higher-prices-as-input-costs-bite\/#What_was_EBITDA_per_tonne_in_the_latest_quarter_for_UltraTech\" title=\"What was EBITDA per tonne in the latest quarter for UltraTech?\">What was EBITDA per tonne in the latest quarter for UltraTech?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/ultratech-bets-on-higher-prices-as-input-costs-bite\/#What_is_the_52-week_range_of_the_UltraTech_Cement_share_price\" title=\"What is the 52-week range of the UltraTech Cement share price?\">What is the 52-week range of the UltraTech Cement share price?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/ultratech-bets-on-higher-prices-as-input-costs-bite\/#Is_the_UltraTech_Cement_share_price_expensive\" title=\"Is the UltraTech Cement share price expensive?\">Is the UltraTech Cement share price expensive?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/ultratech-bets-on-higher-prices-as-input-costs-bite\/#What_should_I_watch_after_the_UltraTech_Cement_share_price_moves\" title=\"What should I watch after the UltraTech Cement share price moves?\">What should I watch after the UltraTech Cement share price moves?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/ultratech-bets-on-higher-prices-as-input-costs-bite\/#Is_this_article_investment_advice\" title=\"Is this article investment advice?\">Is this article investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"UltraTech_Cement_Share_Price_Today_Live_Snapshot\"><\/span><strong>UltraTech Cement Share Price Today: Live Snapshot<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Item<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Reading on 21 Oct 2026 (12:51 PM IST)<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Previous close of the UltraTech Cement share price<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 10,650 on NSE (Rs 10,620.10 on BSE)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Open and day low of the UltraTech Cement share price<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 10,822 and Rs 10,717<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Day high of the UltraTech Cement share price<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 10,959<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Last traded UltraTech Cement share price<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 10,797, up 1.38% (NSE)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Volume in the UltraTech Cement share price<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 2.46 lakh shares so far<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">52-week range of the UltraTech Cement share price<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 10,325 to Rs 13,110<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Below the 52-week high<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 17.6% (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Above the 52-week low<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 4.6% (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">50-day average<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 11,153.32, so the price is about 3.2% below it (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">14-day RSI<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">49.2<\/td>\n<\/tr>\n<\/table>\n<p>A quote at 1:00 PM IST showed the UltraTech Cement share price at Rs 10,818, up 1.58%, so the rise held into the afternoon. Volume on 19 Oct was about 6.09 lakh shares, which is 2.6 times the average of the six sessions before it (my calculation), so the result day saw real selling.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Compare cement stocks on the Univest Screener<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Q2_FY27_Results_Behind_the_UltraTech_Cement_Share_Price\"><\/span><strong>Q2 FY27 Results Behind the UltraTech Cement Share Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Metric<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Q2 FY27<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Change<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Consolidated net profit<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,501 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 21.3% from Rs 1,238 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Profit attributable to shareholders<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,493.77 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 21.3%, against LSEG estimate of about Rs 1,705 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue from operations<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 23,295 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 18.8%, against LSEG estimate of about Rs 22,378 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Consolidated net sales<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 23,024 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 18.9% from Rs 19,371 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">PBIDT<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 3,832 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 17.3% from Rs 3,268 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Operating EBITDA per tonne<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 974<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up Rs 60 year on year, as reported by Reuters<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Domestic grey cement volume<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">35.94 million tonnes<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 13.8%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Capacity utilisation<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">71%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up from 66%<\/td>\n<\/tr>\n<\/table>\n<p>Profit missed by about Rs 211 crore, or 12.4%, while revenue beat the estimate (my calculation from the LSEG figures). Against the June quarter, profit attributable to shareholders fell about 42.5% from Rs 2,599 crore and revenue fell 5.5%, which reflects monsoon disruption and seasonally lower volume of 35.94 million tonnes against 39.2 million tonnes. PBIDT as a share of net sales was about 16.6% against about 16.9% a year earlier (my calculation), so margins slipped slightly even as EBITDA per tonne improved, a mixed picture for the UltraTech Cement share price.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to get price alerts on UltraTech Cement.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Input_Costs_and_Cement_Prices_The_Pressure_on_the_UltraTech_Cement_Share_Price\"><\/span><strong>Input Costs and Cement Prices: The Pressure on the UltraTech Cement Share Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Cost line<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Q2 FY27<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Change from a year earlier<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Cost of materials consumed<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 4,208 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up about 24.4%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Power and fuel<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 5,511 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up about 24%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Total expenses<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 21,339 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 17.8%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net sales for comparison<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 23,024 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 18.9%<\/td>\n<\/tr>\n<\/table>\n<p>Materials and power and fuel together account for about Rs 9,719 crore, or about 46% of total expenses (my calculation), and both rose faster than sales. That is the squeeze behind the headline. In the June quarter call, management had guided for cost inflation of Rs 130 to Rs 140 per tonne in Q2 from fuel, maintenance shutdowns and seasonality, and the Q2 numbers are consistent with costs running ahead of sales.<\/p>\n<p>JM Financial estimated that average cement prices rose Rs 6 to Rs 7 per bag in the second half of September, and analysts expect further increases after the festive season. At 20 bags of 50 kg to a tonne, that is Rs 120 to Rs 140 per tonne (my calculation), close to the cost inflation management guided for. This is a coincidence of numbers and not a company statement. These are industry estimates and not an UltraTech Cement forecast, and no brokerage target price came with the Q2 reports I read.<\/p>\n<p><strong>Risk:<\/strong> If the price hikes do not hold after the festive season, or if fuel costs rise further, the cost pressure behind the UltraTech Cement share price could carry into Q3.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Capacity_Green_Power_and_Growth_Behind_the_UltraTech_Cement_Share_Price\"><\/span><strong>Capacity, Green Power and Growth Behind the UltraTech Cement Share Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>UltraTech commissioned 3.6 million tonnes a year of integrated capacity at Petnikota in Andhra Pradesh and added 1.0 million tonnes through debottlenecking, taking domestic grey cement capacity to 204.7 million tonnes a year. That reconciles with the 200.1 million tonnes reported after the June quarter (my calculation), although another report I read gave 210.1 million tonnes and I could not reconcile it. Capacity additions matter for the UltraTech Cement share price because volume growth of 13.8% came with utilisation of only 71%. Management had planned capex of about Rs 17,000 crore over two to two and a half years to reach about 242 million tonnes by FY28.<\/p>\n<p>Green power, which includes waste heat recovery and renewables, made up 48% of the power mix, with 1,580 MW of renewable capacity and 444 MW of waste heat recovery. The company also launched Ultravolt, a wires and cables business, which adds a new line beside cement, though its effect on the UltraTech Cement share price is small for now.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Valuation_of_the_UltraTech_Cement_Share_Price_Against_Peers\"><\/span><strong>Valuation of the UltraTech Cement Share Price Against Peers<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Company<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Price to earnings<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Return on equity<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Dividend yield<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">UltraTech Cement<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">35.42<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">10.66%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">2.26%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Shree Cement<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">49.18<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">7.49%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">0.67%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Ambuja Cements<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">17.06<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">7.97%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">0.55%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Industry figure<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">29.06<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Not stated<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Not stated<\/td>\n<\/tr>\n<\/table>\n<p>The UltraTech Cement share price trades at 35.4 times earnings against an industry figure of 29.1, with 4.25 times book value, earnings per share of Rs 299.80 and debt to equity of 0.31. Market capitalisation is about Rs 3,12,952 crore. The premium to the industry reflects its scale as India&#8217;s largest cement maker, while peers sit at both ends of the range.<\/p>\n<p><strong>Risk:<\/strong> A price to earnings ratio is based on trailing earnings, so a profit miss like Q2 can lift the ratio even when the share price falls.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_to_Watch_Next_for_the_UltraTech_Cement_Share_Price\"><\/span><strong>What to Watch Next for the UltraTech Cement Share Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>Whether the Rs 6 to Rs 7 per bag cement price increase holds after the festive season, which shapes the UltraTech Cement share price outlook<\/li>\n<li>Fuel and freight cost trends in Q3, since power and fuel is the largest cost line<\/li>\n<li>A close above the 50-day average of Rs 11,153 or below the 52-week low of Rs 10,325 for the UltraTech Cement share price<\/li>\n<li>Utilisation and volume as the new Petnikota capacity ramps up, and brokerage target changes after the results<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The UltraTech Cement share price is steady after a results-day fall, because profit grew but missed estimates as input costs rose about 24%. Price hikes of Rs 6 to Rs 7 per bag could offset the cost pressure, but that is an analyst estimate and the next quarter&#8217;s margins will show whether it holds. Check the company filings and size any position to your own risk limit.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> 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).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_UltraTech_Cement_share_price_today\"><\/span><strong>What is the UltraTech Cement share price today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> At 12:51 PM IST on 21 Oct 2026 the UltraTech Cement share price was Rs 10,797 on NSE, up 1.38% from Rs 10,650, with a high of Rs 10,959 and a low of Rs 10,717. A quote at 1:00 PM showed Rs 10,818.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_did_the_UltraTech_Cement_share_price_fall_after_Q2_results\"><\/span><strong>Why did the UltraTech Cement share price fall after Q2 results?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Profit attributable to shareholders was Rs 1,493.77 crore against an LSEG estimate of about Rs 1,705 crore, a miss of about 12.4% (my calculation). Costs of materials and of power and fuel rose about 24%, and the stock fell as much as 5.3% from the day&#8217;s high on 19 Oct.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_UltraTech_betting_on_higher_cement_prices\"><\/span><strong>Is UltraTech betting on higher cement prices?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The headline says so, but I found no management statement in the Q2 sources. JM Financial estimated that prices rose Rs 6 to Rs 7 per bag in late September and analysts expect more hikes after the festive season, which are industry estimates and not company guidance.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_was_EBITDA_per_tonne_in_the_latest_quarter_for_UltraTech\"><\/span><strong>What was EBITDA per tonne in the latest quarter for UltraTech?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Reuters reported operating EBITDA per tonne of Rs 974, up Rs 60 from a year earlier. PBIDT was Rs 3,832 crore, up 17.3% and slower than the 18.9% rise in net sales.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_52-week_range_of_the_UltraTech_Cement_share_price\"><\/span><strong>What is the 52-week range of the UltraTech Cement share price?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The range is Rs 10,325 to Rs 13,110. At Rs 10,797 the stock is about 4.6% above the low and about 17.6% below the high (my calculation).<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_UltraTech_Cement_share_price_expensive\"><\/span><strong>Is the UltraTech Cement share price expensive?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> It trades at 35.42 times earnings against an industry figure of 29.06, with a return on equity of 10.66% and a dividend yield of 2.26%. That is a premium to the group, though Shree Cement trades higher at 49.18 and Ambuja Cements lower at 17.06.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_should_I_watch_after_the_UltraTech_Cement_share_price_moves\"><\/span><strong>What should I watch after the UltraTech Cement share price moves?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Watch whether cement price hikes hold after the festive season, how fuel costs behave and whether the stock can close above its 50-day average of Rs 11,153. Also watch the ramp-up of the Petnikota capacity and brokerage target changes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_article_investment_advice\"><\/span><strong>Is this article investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the UltraTech Cement share price today?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"At 12:51 PM IST on 21 Oct 2026 the UltraTech Cement share price was Rs 10,797 on NSE, up 1.38% from Rs 10,650, with a high of Rs 10,959 and a low of Rs 10,717. A quote at 1:00 PM showed Rs 10,818.\"}},{\"@type\":\"Question\",\"name\":\"Why did the UltraTech Cement share price fall after Q2 results?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Profit attributable to shareholders was Rs 1,493.77 crore against an LSEG estimate of about Rs 1,705 crore, a miss of about 12.4% (my calculation). Costs of materials and of power and fuel rose about 24%, and the stock fell as much as 5.3% from the day's high on 19 Oct.\"}},{\"@type\":\"Question\",\"name\":\"Is UltraTech betting on higher cement prices?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The headline says so, but I found no management statement in the Q2 sources. JM Financial estimated that prices rose Rs 6 to Rs 7 per bag in late September and analysts expect more hikes after the festive season, which are industry estimates and not company guidance.\"}},{\"@type\":\"Question\",\"name\":\"What was EBITDA per tonne in the latest quarter for UltraTech?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Reuters reported operating EBITDA per tonne of Rs 974, up Rs 60 from a year earlier. PBIDT was Rs 3,832 crore, up 17.3% and slower than the 18.9% rise in net sales.\"}},{\"@type\":\"Question\",\"name\":\"What is the 52-week range of the UltraTech Cement share price?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The range is Rs 10,325 to Rs 13,110. At Rs 10,797 the stock is about 4.6% above the low and about 17.6% below the high (my calculation).\"}},{\"@type\":\"Question\",\"name\":\"Is the UltraTech Cement share price expensive?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It trades at 35.42 times earnings against an industry figure of 29.06, with a return on equity of 10.66% and a dividend yield of 2.26%. That is a premium to the group, though Shree Cement trades higher at 49.18 and Ambuja Cements lower at 17.06.\"}},{\"@type\":\"Question\",\"name\":\"What should I watch after the UltraTech Cement share price moves?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Watch whether cement price hikes hold after the festive season, how fuel costs behave and whether the stock can close above its 50-day average of Rs 11,153. Also watch the ramp-up of the Petnikota capacity and brokerage target changes.\"}},{\"@type\":\"Question\",\"name\":\"Is this article investment advice?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>UltraTech Cement share price traded near Rs 10,800 on 21 Oct 2026 after Q2 FY27. See the profit miss, 24% cost rise, price hikes, valuation and levels.<\/p>\n","protected":false},"author":35,"featured_media":320170,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[13869,1191,13870,7059,2819,461],"class_list":["post-320172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cement-prices","tag-cement-stocks","tag-input-costs","tag-ultratech-cement","tag-ultratech-cement-q2-results","tag-ultratech-cement-share-price"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["320170"],"rank_math_title":["UltraTech Cement Share Price: Q2 Costs and Price Hikes"],"rank_math_description":["UltraTech Cement share price traded near Rs 10,800 on 21 Oct after Q2 FY27. See the profit miss, 24% cost rise, Rs 6 to Rs 7 per bag price hikes, valuation and levels."],"rank_math_focus_keyword":["UltraTech Cement share price"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/ultratech-cement-share-price-why-the-company-is-betting-on-higher-prices-as.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/320172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=320172"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/320172\/revisions"}],"predecessor-version":[{"id":320173,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/320172\/revisions\/320173"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/320170"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=320172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=320172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=320172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}