UltraTech Cement is engaged in the manufacturing and sale of Cement and Cement related product primarily across globe. Presenting below are its Q2 FY26 earnings results.
Q2 FY26 Earnings Results
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Revenue from Operations: ₹19,606.9 crore, up 20.3% YoY from ₹16,294.4 crore in Q2 FY25 and nearly flat sequentially compared to ₹21,275 crore in Q1 FY26.
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Net Profit (PAT): ₹1,237.98 crore, up 75% YoY from ₹707.96 crore, though down 44% QoQ from ₹2,226 crore in Q1 FY26 due to seasonal cyclicality and weaker June-to-September demand.
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Profit Before Tax (PBT): ₹1,655.8 crore, up 88% YoY from ₹879.3 crore.
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EBITDA (PBIDT): ₹3,268 crore, up 45% YoY from ₹2,253 crore.
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EBITDA per tonne: ₹966 per tonne (vs ₹740 per tonne YoY), reflecting strong pricing and energy efficiencies.
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PAT Margin: 6.3% (vs 4.4% YoY).
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Sales Volume: 33.85 million tonnes, up 6.9% YoY from 31.68 million tonnes in Q2 FY25.
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Energy Costs: Fell 7% YoY; raw material costs rose 5% due to higher slag and fly ash prices.
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Domestic Grey Cement Volumes: Up 22.3% YoY, excluding acquisition-led volumes.
Management Commentary & Strategic Decisions
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K.C. Jhanwar, Managing Director:
“UltraTech delivered a strong operating performance on the back of healthy demand uptake and effective cost management. Integration of the recent India Cements and Kesoram assets continues seamlessly, and our expansion reinforces UltraTech’s role in building India’s infrastructure growth story.”. -
Key Integration Updates:
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India Cements Ltd: EBITDA of ₹386 per tonne; 31% of its volumes transitioned to the UltraTech brand.
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Kesoram Industries Ltd: EBITDA of ₹755 per tonne; 55% of volumes integrated under UltraTech operations.
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Strategic Expansion Plan:
UltraTech approved a ₹10,255 crore capex plan to add 22.8 MTPA of cement capacity, through both greenfield and brownfield projects.-
Implementation target: FY28 in phased manner.
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Post-expansion total global capacity: 240.76 MTPA (currently ~192.26 MTPA).
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Operational Highlights:
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Introduced GST 2.0 from Sept 22, 2025, passing full rate benefits to customers.
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Operating utilization sustained at 71% across cement plants.
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Ongoing capital investments in low-carbon technologies, waste heat recovery, and alternative fuel use under UltraTech’s green energy roadmap.
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Q1 FY26 Earnings Results
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Revenue: ₹21,275 crore, up 13% YoY from ₹18,818 crore in Q1 FY25.
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PAT: ₹2,226 crore, up 49% YoY from ₹1,495 crore.
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EBITDA: ₹4,591 crore; EBITDA margin at 20.7% (vs 16.8% YoY).
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Sales Volumes: 36.83 MTPA (+9.7% YoY), including acquisition-led gains.
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Green Power Mix: 39.5% (up 400 bps YoY), improving cost and sustainability performance.
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.