UltraTech Cement (ULTRACEMCO) investor relations material

Executive summary

• Q1 FY27 delivered record performance in volumes, revenues, EBITDA, and profit, with double-digit volume growth and robust demand across infrastructure, housing, and urban real estate.

• Grey cement volume reached 41.31 MnT, up 12.2% YoY; domestic sales volumes increased 13.1% to 39.2 million tonnes; capacity utilization at 81% on a 200 million tonne base.

• Operating EBITDA per tonne improved to ₹1,214, highlighting continued cost discipline and execution excellence.

• Brand migration of acquired assets (Kesoram and India Cements) to UltraTech is complete, driving premiumization and higher realizations.

• The company advanced its sustainability agenda, achieving a 47% green power mix and commissioning 20 MW of new WHRS capacity.

Financial highlights

• Consolidated revenue from operations for Q1 FY27 was ₹24,648.20 crores, up 16% year-over-year; EBITDA reached ₹5,146 crores; PAT up 17.2% to ₹2,604 crores.

• Operating EBITDA per ton remained steady above ₹1,200.

• Grey cement (domestic) revenue grew 19.7% YoY; ready mix concrete revenue up 22.4% YoY.

• India Cements revenue (ex-freight) grew 21% YoY, with EBITDA per ton rising from ₹386 in Q2 FY26 to ₹603 in Q1 FY27.

• Net profit margin for Q1 FY27 was 11%, with operating margin at 21%.

Outlook and guidance

• Double-digit volume growth targeted for FY27, with strong demand expected to continue across regions.

• Capacity expansion on track, targeting 242.5 MTPA by FY28 with significant greenfield and brownfield projects.

• Q2 FY27 expected to see higher costs (₹130-140 per tonne) due to full impact of fuel price increases and seasonal maintenance.

• India Cements EBITDA per ton target of ₹1,000 remains in sight by Q4 FY28 as CapEx benefits flow through.

• Sustainability initiatives remain a core focus, with ongoing investments in green power and waste heat recovery.