{"id":177678,"date":"2026-01-26T06:05:52","date_gmt":"2026-01-26T11:05:52","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=177678"},"modified":"2026-01-26T06:05:54","modified_gmt":"2026-01-26T11:05:54","slug":"ultratech-cement-q3-fy26-earnings-results","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/ultratech-cement-q3-fy26-earnings-results\/","title":{"rendered":"UltraTech Cement Q3 FY26 Earnings Results"},"content":{"rendered":"\n<p>UltraTech Cement is engaged in the manufacturing and sale of Cement and Cement related product primarily across globe.<\/p>\n\n\n\n<div style=\"height:32px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Q3 FY26 Earnings Results<\/strong><\/h2>\n\n\n\n<p>Revenue from Operations \/ Net Sales: \u20b921,506 cr, up 22.5% YoY from \u20b917,555 cr in Q3 FY25, +9.7% QoQ from \u20b919,607 cr in Q2 FY26, driven by strong domestic grey cement volumes (+15.4% YoY to 36.37 MT) and Ready Mix Concrete (+25.8% YoY to \u20b91,848 cr).<\/p>\n\n\n\n<p>Operating PBIDT (EBITDA): \u20b94,051 cr, up 28.9% YoY from \u20b93,142 cr in Q3 FY25, +21.5% QoQ from \u20b93,268 cr in Q2 FY26, with operating margin expanding 166 bps YoY to 18.81%.<\/p>\n\n\n\n<p>Operating EBITDA per MT: \u20b91,051\/MT, up \u20b9140 YoY (+15.4%) and \u20b997 QoQ (+10.1%), reflecting improved cost efficiency and capacity utilisation.<\/p>\n\n\n\n<p>Profit After Tax (PAT): \u20b91,725 cr (reported), up 26.9% YoY from \u20b91,359 cr in Q3 FY25, +40.1% QoQ from \u20b91,232 cr in Q2 FY26; PAT margin at 7.92% (up from 6.31% QoQ), with exceptional charge of \u20b988 cr on new Labour Code provisions reducing reported PAT to \u20b91,725 cr versus normalised \u20b91,813 cr.<\/p>\n\n\n\n<p>Total Expenses: \u20b917,914 cr, up from \u20b915,557 cr QoQ; Cost of Materials Consumed rose 30.6% YoY, outpacing revenue growth; Depreciation \u20b91,182 cr (+3.0% QoQ), Employee Costs \u20b91,041 cr (-2.2% QoQ), Interest \u20b9492 cr (+7.2% QoQ).<\/p>\n\n\n\n<p>9M YTD Performance: Revenue \u20b962,712 cr (+18.6% YoY), PAT \u20b95,183 cr (+45.7% YoY), highlighting strong first-half momentum sustained through Q3.<\/p>\n\n\n\n<div style=\"height:34px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Management Commentary &amp; Strategic Decisions<\/strong><\/h2>\n\n\n\n<p>Strong operational momentum <a href=\"https:\/\/www.bseindia.com\/xml-data\/corpfiling\/AttachLive\/480c3441-7ab7-46d7-a75a-db932eb0d699.pdf\" target=\"_blank\" rel=\"noopener\">driven by volume growth<\/a>, market share gains from India Cements integration, and gradual easing of input costs; raw material costs\/MT increased 6% YoY to \u20b9664\/MT (improved clinker conversion ratio), whilst other costs\/MT declined 7% YoY benefiting from operating leverage.<\/p>\n\n\n\n<p>Strategic capital allocation remains disciplined with net debt-to-EBITDA at 1.08x and \u20b92,357 cr capex deployed in Q3; company reiterated capacity expansion roadmap to add 22.8 MTpa and launch Cables &amp; Wires business in Q3 FY27.<\/p>\n\n\n\n<p>Green power mix improved to 41.1% in 9M FY26 with ESG target to reduce Net CO\u2082 emissions to 462 kg CO\u2082\/MT cement by FY32, underlining transition focus amidst structural margin headwinds.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"839\" height=\"1024\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-64-839x1024.png\" alt=\"\" class=\"wp-image-177680\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-64-839x1024.png 839w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-64-246x300.png 246w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-64-768x937.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-64-1259x1536.png 1259w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-64.png 1489w\" sizes=\"auto, (max-width: 839px) 100vw, 839px\" \/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Q2 FY26 Earnings Results<\/strong><\/h2>\n\n\n\n<p>Revenue from Operations: \u20b919,607 cr, up 20.3% YoY from \u20b916,301 cr in Q2 FY25, down 9.7% QoQ from Q1 FY26, reflecting seasonal weakness post-monsoon.<\/p>\n\n\n\n<p>Operating EBITDA: \u20b93,268 cr (PBIDT per estimates), up 45% YoY (est.), +3.0% QoQ; operating margin at 15.78% (up 334 bps YoY but down 495 bps QoQ due to seasonal factors and maintenance costs).<\/p>\n\n\n\n<p>Profit After Tax: \u20b91,238 cr, up 75.2% YoY from \u20b9704 cr in Q2 FY25, down 40.1% QoQ from Q1 FY26; PAT margin at 6.3% (up 197 bps YoY, down 418 bps QoQ).<\/p>\n\n\n\n<div style=\"height:34px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Management Commentary Q2<\/strong><\/h2>\n\n\n\n<p>Inline operational performance with volume growth offsetting seasonal demand trough; margin pressure reflected underlying cost inflation and competitive dynamics in cement markets, alongside higher effective tax rate drag.<\/p>\n\n\n\n<p>To view the company\u2019s previous earnings and latest concall transcripts,&nbsp;<a href=\"https:\/\/alphastreet.com\/india\/\">click here<\/a>&nbsp; to visit the Alphastreet India news channel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>UltraTech Cement is engaged in the manufacturing and sale of Cement and Cement related product primarily across globe. Q3 FY26 Earnings Results Revenue from Operations \/ Net Sales: \u20b921,506 cr, up 22.5% YoY from \u20b917,555 cr in Q3 FY25, +9.7% QoQ from \u20b919,607 cr in Q2 FY26, driven by strong domestic grey cement volumes (+15.4% [&hellip;]<\/p>\n","protected":false},"author":1863,"featured_media":177680,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[105,11809],"tags":[12639],"class_list":["post-177678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infographics","category-realty","tag-cements"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-64.png","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":178509,"url":"https:\/\/alphastreet.com\/india\/orient-cements-q3-fy26-earnings-results\/","url_meta":{"origin":177678,"position":0},"title":"Orient Cements Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"January 30, 2026","format":false,"excerpt":"Orient Cement Ltd is primarily engaged in the manufacture and sale of Cement and its manufacturing facilities at present are located at Devapur in Telangana, Chittapur in Karnataka and Jalgaon in Maharashtra. Q3 FY26 Earnings Results Revenue from Operations: \u20b9636 cr, \u22121.1% YoY vs \u20b9643 cr, \u22121.1% YoY; standalone sales\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":177853,"url":"https:\/\/alphastreet.com\/india\/tata-consumer-q3-fy26-earnings-results\/","url_meta":{"origin":177678,"position":1},"title":"Tata Consumer Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"January 27, 2026","format":false,"excerpt":"Tata Consumer Products Ltd. is one of the leading companies of the Tata Group, with presence in the food and beverages business in India and internationally. It is the second largest tea company globally and has significant market presence and leadership in many markets. In addition to South Asia (mainly\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Tata Consumer Q3 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-80.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-80.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-80.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-80.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-80.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-80.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":178882,"url":"https:\/\/alphastreet.com\/india\/mayur-uniquoters-q3-fy26-earnings-results\/","url_meta":{"origin":177678,"position":2},"title":"Mayur Uniquoters Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"February 2, 2026","format":false,"excerpt":"Mayur Uniquoters is primarily engaged in the business of manufacturing of Coated Textile Fabrics, artificial leather and PVC Vinyl which are widely used in different segments such as Footwear, Furnishings, Automotive OEM, Automotive replacement market, and Automotive Exports. Q3 FY26 Earnings Results Revenue from Operations: \u20b9237.48 cr, +13.96% YoY, -1.18%\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":179335,"url":"https:\/\/alphastreet.com\/india\/veedol-q3-fy26-earnings-results\/","url_meta":{"origin":177678,"position":3},"title":"Veedol Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"February 3, 2026","format":false,"excerpt":"Veedol (Tide Water Oil Co. Ltd.) is a leading manufacturer and marketer of lubricants in over 65 countries around the globe. In India, it has been catering to both automotive and industrial segments since 1928 under the brand \u201cVeedol''. Q3 FY26 Earnings Results Revenue from Operations: Consolidated \u20b9537.73 cr, +11.47%\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-33.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-33.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-33.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-33.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-33.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-33.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":171620,"url":"https:\/\/alphastreet.com\/india\/ultratech-cement-q2-fy26-earnings-results\/","url_meta":{"origin":177678,"position":4},"title":"UltraTech Cement Q2 FY26 Earnings Results","author":"Chirag Gupta","date":"October 20, 2025","format":false,"excerpt":"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. \u00a0 Q2 FY26 Earnings Results Revenue from Operations:\u00a0\u20b919,606.9 crore, up\u00a020.3% YoY\u00a0from \u20b916,294.4 crore in Q2 FY25 and nearly flat sequentially compared to \u20b921,275 crore\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Ultratech Cement Q2 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Ultratech-Cement-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Ultratech-Cement-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Ultratech-Cement-Q2-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Ultratech-Cement-Q2-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Ultratech-Cement-Q2-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Ultratech-Cement-Q2-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":179802,"url":"https:\/\/alphastreet.com\/india\/shree-renuka-sugars-q3-fy26-earnings-results\/","url_meta":{"origin":177678,"position":5},"title":"Shree Renuka Sugars Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"February 6, 2026","format":false,"excerpt":"Incorporated in 1995, Shree Renuka Sugars Ltd does manufacturing and refining of sugar, ethyl alcohol, ethanol, generation and sale of power. Q3 FY26 Earnings Results Revenue from Operations: \u20b92,273 cr consolidated, -12.7% YoY (vs \u20b92,603 cr in Q3 FY25), and -6.2% QoQ (from \u20b92,423 cr in Q2 FY26). EBITDA \/\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/177678","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1863"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=177678"}],"version-history":[{"count":1,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/177678\/revisions"}],"predecessor-version":[{"id":177681,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/177678\/revisions\/177681"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/177680"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=177678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=177678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=177678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}