Maximum Profit is the final aim of any organization. The gain arising from the investment of capital in the business, the excess of incomes over expenditure is monetary gain or profit in any transactions or occupation. Profitability means the ability of any business unit to earn profit continuously. Profitability is a situation in which an entity is generating a profit. Profit performance is a measure of a company's ability to generate profits from its operations. All stakeholders connected with the business entity are interested to know about the profitability of the entity. In this paper, an attempt is made to study profitability performance based on Investment in the business of selected Cement companies in India. The top 10 cement manufacturing companies in India were selected for study and decided to examine the profitability performance based on investment for the period of 10 years from 2010-11 to 2019-20. The Return on Capital Employed, Return on Equity Shareholders’ Fund, and Earnings per Share ratio are calculated to measure profitability performance based on investment. Statistical tools like Mean, S.D., and ANOVA were used to analyze data and test hypotheses. The cement Industry is prime and one of the crucial industries in India as in other countries. In India first Cement Company was established in the year 1914 at Porbandar, Gujarat with a capacity of 10,000 tonnes. Currently, India is the 2nd largest producer in worldwide production of cement after China. A huge investment is required to establish the cement manufacturing plant. Hence organizations are interested to earn more and more returns as profit.