UDAICEMENT
Udaipur Cement share price & financials
- Price
- ₹36.23
- Market cap
- ₹2.0k Cr
- Sector
- Construction Materials
What Udaipur Cement does
Udaipur Cement Works Ltd (UCWL) manufactures, grinds and sells cement and clinker from a single integrated plant in Udaipur, Rajasthan, drawing limestone from its own captive mine at the site. It earns by selling cement — including under its 'Platinum Heavy Duty Cement' brand — to builders, contractors and retail buyers in its regional market. UCWL is a subsidiary within the JK Lakshmi Cement group (JKLC holds roughly 71% of its equity) and is slated to be merged into JK Lakshmi Cement Ltd under a Composite Scheme of Arrangement, consolidating the group's cement assets into one listed entity.
Segments
- Cement
- Installed cement capacity
- 4.70 MTPA
- Installed clinker capacity
- 3.0 MTPA
- Manufacturing plants
- 1 integrated cement plant (Udaipur, Rajasthan)
- Captive solar power capacity
- 15.45 MW
- Renewable initiative
- Floating solar installation in the company's mine pit
- Plant operating since
- 1994
Quarterly results
Q4 FY25: revenue up 39.1%, net profit up 122.2% against the same quarter last year.
| Line item | Q1 FY24 | Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 246 | 269 | 300 | 348 | 325 +32% | 294 +9% | 369 +23% | 484 +39% |
| EBITDA | 28 | 38 | 60 | 61 | 39 +39% | 27 −29% | 59 −2% | 109 +79% |
| Net profit | 4 | 12 | 25 | 18 | -10 −350% | -18 −250% | 2 −92% | 40 +122% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +6.6% 1Y
1Y: ₹33.99 on 21 Aug 2024 → ₹36.23. High ₹37.56 (22 Jul 2025), low ₹23.83 (17 Mar 2025).
Financials, as filed
Revenue grew 19.5% a year over 2 years, FY23 to FY25. Operating margin widened to 15.9%.
| Year ending | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | ₹1.0k Cr | ₹1.2k Cr | ₹1.5k Cr |
| Operating profit | ₹133 Cr | ₹187 Cr | ₹234 Cr |
| Operating margin | 12.9% | 16.1% | 15.9% |
| Interest | ₹48 Cr | ₹69 Cr | ₹118 Cr |
| Depreciation | ₹36 Cr | ₹53 Cr | ₹102 Cr |
| Net profit | ₹36 Cr | ₹59 Cr | ₹14 Cr |
| Net margin | 3.5% | 5.1% | 1.0% |
| Cash from operations | ₹99 Cr | ₹128 Cr | ₹263 Cr |
| Free cash flow | ₹-490 Cr | ₹-456 Cr | ₹26 Cr |
| ROCE | 7.0% | 8.0% | 6.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Equity capital | ₹125 Cr | ₹125 Cr | ₹125 Cr | ₹125 Cr | ₹224 Cr | ₹224 Cr |
| Reserves | ₹59 Cr | ₹122 Cr | ₹170 Cr | ₹221 Cr | ₹663 Cr | ₹576 Cr |
| Borrowings | ₹567 Cr | ₹570 Cr | ₹941 Cr | ₹1.1k Cr | ₹1.3k Cr | ₹1.6k Cr |
| Other liabilities | ₹167 Cr | ₹158 Cr | ₹193 Cr | ₹304 Cr | ₹265 Cr | ₹278 Cr |
| Total liabilities | ₹917 Cr | ₹975 Cr | ₹1.4k Cr | ₹1.8k Cr | ₹2.5k Cr | ₹2.7k Cr |
| Fixed assets | ₹707 Cr | ₹681 Cr | ₹726 Cr | ₹711 Cr | ₹2.0k Cr | ₹2.2k Cr |
| Capital work in progress | ₹6 Cr | ₹46 Cr | ₹130 Cr | ₹816 Cr | ₹0 Cr | ₹2 Cr |
| Investments | ₹25 Cr | ₹93 Cr | ₹87 Cr | ₹0 Cr | ₹100 Cr | ₹207 Cr |
| Other assets | ₹179 Cr | ₹155 Cr | ₹486 Cr | ₹268 Cr | ₹331 Cr | ₹292 Cr |
| Total assets | ₹917 Cr | ₹975 Cr | ₹1.4k Cr | ₹1.8k Cr | ₹2.5k Cr | ₹2.7k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2025
Since Jun 2024, the public trimmed −0.19 pp while DIIs added +0.10 pp. The shareholder count grew 9% to 1,07,410.
- Promoters
- 75.0%
- FIIs
- 0.2%
- DIIs
- 0.1%
- Public
- 24.7%
Since Jun 2024
- Public −0.19 pp
- DIIs +0.10 pp
- FIIs +0.07 pp
How it drifted, 12 quarters
Over this window the public fell from 27.2% to 24.7% — −2.6 pp.
Ownership split by quarter, oldest first. Sep '22: Promoters 72.5%, FIIs 0.1%, DIIs 0.1%, Public 27.2%.Dec '22: Promoters 72.5%, FIIs 0.2%, DIIs 0.1%, Public 27.2%.Mar '23: Promoters 72.5%, FIIs 0.1%, DIIs 0.1%, Public 27.2%.Jun '23: Promoters 72.5%, FIIs 0.1%, DIIs 0.1%, Public 27.3%.Sep '23: Promoters 75.0%, FIIs 0.1%, DIIs 0.1%, Public 24.8%.Dec '23: Promoters 75.0%, FIIs 0.1%, DIIs 0.1%, Public 24.9%.Mar '24: Promoters 75.0%, FIIs 0.1%, DIIs 0.0%, Public 24.9%.Jun '24: Promoters 75.0%, FIIs 0.1%, DIIs 0.0%, Public 24.9%.Sep '24: Promoters 75.0%, FIIs 0.1%, DIIs 0.0%, Public 24.9%.Dec '24: Promoters 75.0%, FIIs 0.1%, DIIs 0.0%, Public 24.9%.Mar '25: Promoters 75.0%, FIIs 0.2%, DIIs 0.1%, Public 24.7%.Jun '25: Promoters 75.0%, FIIs 0.2%, DIIs 0.1%, Public 24.7%.
Who bought this quarter
since Mar 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Agrani Cement Private Limited newly disclosed 0.00% held
- Mahabal Cement Private Limited newly disclosed 0.00% held
- Avichal Cement Private Limited newly disclosed 0.00% held
- Trivikram Cement Private Limited newly disclosed 0.00% held
- Hidrive Developers And Industries Ltd newly disclosed 0.00% held
- Hansdeep Industries & Trading Company Limited newly disclosed 0.00% held
- Ram Kanta Properties Pvt Ltd. newly disclosed 0.00% held
- Amplus Helios Private Limited newly disclosed 0.00% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2025 filing
Every holder of Udaipur Cement above SEBI's 1% disclosure line, and what changed since Mar 2025.
| Holder | Stake | Change |
|---|---|---|
| Jk Lakshmi Cement Limited | 71.12% | unchanged |
| Dwarkesh Energy Limited | 3.88% | unchanged |
| Bengal & Assam Company Ltd. | 0.00% | unchanged |
| Agrani Cement Private Limited | 0.00% | newly disclosed |
| Mahabal Cement Private Limited | 0.00% | newly disclosed |
| Avichal Cement Private Limited | 0.00% | newly disclosed |
| Trivikram Cement Private Limited | 0.00% | newly disclosed |
| Hidrive Developers And Industries Ltd | 0.00% | newly disclosed |
| Hansdeep Industries & Trading Company Limited | 0.00% | newly disclosed |
| Ram Kanta Properties Pvt Ltd. | 0.00% | newly disclosed |
| Amplus Helios Private Limited | 0.00% | newly disclosed |
| Sungaze Power Private Limited | 0.00% | newly disclosed |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Udaipur Cement
Guides on how to read this kind of business and the numbers that matter.