Authors: Nathi Shiva Venkatesh, Professor Dr. S. Narender
Abstract: UltraTech Cement Limited is India's largest cement and ready-mix concrete manufacturer and a leading player in the building materials industry. The company is known for its extensive manufacturing network, high-quality products, and strong presence across domestic and international markets. Through continuous innovation and sustainable business practices, UltraTech Cement contributes significantly to infrastructure development and economic growth. This study analyzes the capital structure of UltraTech Cement Limited over the five-year period FY2020–21 to FY2024–25 using secondary data from published annual reports, BSE/NSE filings, and financial databases. The research employs Ratio Analysis, Trend Analysis, and Comparative Analysis across ten capital structure dimensions. Comparative analysis confirms UltraTech's capital structure as superior to the industry average across all key leverage and profitability metrics. This paper studies the debt-equity ratio, interest coverage etc to find out the capital structure process at Ultratech. The study concludes with how UltraTech has demonstrated best-in-class capital structure management through balanced growth financing, and with financial discipline to deliver sustained shareholder value creation.
