India Cements Ltd
NSE:INDIACEM

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India Cements Ltd
NSE:INDIACEM
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Price: 404.2 INR -3.58% Market Closed
Market Cap: ₹125.3B

EV/S

3
Current
35%
More Expensive
vs 3-y average of 2.2

Enterprise Value to Sales (EV/S) ratio compares a company`s total enterprise value to its revenue. It shows how much investors are paying for each dollar of the company`s sales, including both equity and debt.

EV/S
3
=
Enterprise Value
₹139.7B
/
Revenue
₹44.5B

Enterprise Value to Sales (EV/S) ratio compares a company`s total enterprise value to its revenue. It shows how much investors are paying for each dollar of the company`s sales, including both equity and debt.

EV/S
3
=
Enterprise Value
₹139.7B
/
Revenue
₹44.5B

Valuation Scenarios

India Cements Ltd is trading above its 3-year average

If EV/S returns to its 3-Year Average (2.2), the stock would be worth ₹299.18 (26% downside from current price).

Statistics
Positive Scenarios
0/4
Maximum Downside
-45%
Maximum Upside
No Upside Scenarios
Average Downside
28%
Scenario EV/S Value Implied Price Upside/Downside
Current Multiple 3 ₹404.2
0%
3-Year Average 2.2 ₹299.18
-26%
5-Year Average 1.9 ₹249.33
-38%
Industry Average 1.6 ₹220.77
-45%
Country Average 2.9 ₹387.09
-4%

Forward EV/S
Today’s price vs future revenue

Today's Enterprise Value Revenue Forward EV/S
₹139.7B
/
Jan 2026
₹44.5B
=
3
Current
₹139.7B
/
Mar 2026
₹49.3B
=
2.8
Forward
₹139.7B
/
Mar 2027
₹58B
=
2.4
Forward
₹139.7B
/
Mar 2028
₹66.6B
=
2.1
Forward

Forward EV/S shows whether today’s EV/S still looks high or low once future revenue are taken into account.

Peer Comparison

All Multiples
EV/S
P/E
All Countries
Close
Market Cap EV/S P/E
IN
India Cements Ltd
NSE:INDIACEM
129.9B INR 3 -111.8
IE
CRH PLC
NYSE:CRH
76.5B USD 2.4 20.3
CH
Holcim AG
SIX:HOLN
40.3B CHF 2.7 3
DE
HeidelbergCement AG
XETRA:HEI
32.8B EUR 1.7 16.9
US
Vulcan Materials Co
NYSE:VMC
38.1B USD 5.4 36.1
US
Martin Marietta Materials Inc
NYSE:MLM
37B USD 6.9 32.6
IN
UltraTech Cement Ltd
NSE:ULTRACEMCO
3.5T INR 4.1 48.2
US
Amrize AG
SIX:AMRZ
24.9B CHF 3 26.6
DE
Heidelberg Materials AG
XMUN:HEI
21.9B EUR 1.2 11.1
CN
China Jushi Co Ltd
SSE:600176
136.9B CNY 7.8 41.7
IN
Grasim Industries Ltd
NSE:GRASIM
1.9T INR 1.8 45.3

Market Distribution

In line with most companies in India
Percentile
51st
Based on 2 864 companies
51st percentile
3
Low
0 — 1.6
Typical Range
1.6 — 5
High
5 —
Distribution Statistics
India
Min 0
30th Percentile 1.6
Median 2.9
70th Percentile 5
Max 55 686.2

India Cements Ltd
Glance View

Market Cap
125.3B INR
Industry
Construction

In the bustling world of construction, infrastructure, and real estate development, India Cements Ltd. stands as a resilient pillar, narrating a tale of growth and innovation. Established in 1946, the company carved a niche in the Indian cement industry, emerging as a significant player through its strategic positioning and operational excellence. With its headquarters rooted in Chennai, it orchestrates a massive network of manufacturing units and distribution channels spread primarily across southern India. The company harnesses a substantial production capacity, blending limestone with other materials through energy-intensive kiln processes to manufacture cement. This intricate dance transforms raw materials into a versatile product that forms the backbone of urban landscapes and rural infrastructures alike. India Cements Ltd. monetizes its business by catering to a wide spectrum of needs, from large-scale government projects and industrial applications to individual home builders. It sustains its revenue streams by not only selling cement but also offering a range of products tailored for different construction needs, including specialty cements for challenging environments. The company's strategic initiatives include leveraging technological advancements to optimize production efficiency and reduce costs. Through adept logistical management, India Cements ensures timely delivery of products, thus maintaining a competitive edge. The company's narrative is one of adaption and perseverance, continuously exploring avenues for growth amidst the fluctuations of an economy on the rise.

INDIACEM Intrinsic Value
298.74 INR
Overvaluation 26%
Intrinsic Value
Price ₹404.2
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