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UltraTech Cement (ULTRACEMCO) investor relations material

UltraTech Cement Q1 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 25/26 earnings summary21 Jul, 2025

Executive summary

  • Consolidated revenues grew 13% year-over-year in Q1 FY26 to ₹21,040 crore, with 9.7% volume growth driven by acquisitions and organic expansion.

  • EBITDA increased 44% year-over-year to ₹4,591 crore, and PAT rose 49% to ₹2,226 crore, reflecting operational efficiencies and cost control.

  • Integration of India Cements and Kesoram Industries contributed to improved performance, capacity, and positive EBITDA turnaround for India Cements.

  • Green power mix reached 39.5%, and premium product mix rose 41% year-over-year, supporting sustainability and margin improvement.

  • Urban housing was slow in the first half, but a rebound is expected; redevelopment in Mumbai and Pune remains strong.

Financial highlights

  • Grey cement domestic revenue grew 11.4% year-over-year to ₹17,856 crore; RMC revenue up 23% to ₹1,826 crore.

  • Domestic grey cement realisation improved 2.4% year-over-year and 2.2% sequentially.

  • Operating EBITDA per metric ton rose to ₹1,248, up ₹337/Mt year-over-year.

  • CapEx for the quarter was around ₹2,000 crore, with a total of ₹10,000 crore planned for the year.

  • Net debt reduced to ₹13,711 crore (standalone) and ₹16,340 crore (consolidated) as of June 2025.

Outlook and guidance

  • Double-digit volume growth targeted for FY26 on a base of 135.8 million tons, supported by new capacities and brownfield/greenfield expansion.

  • Organic capacity expansion on track, targeting 217.6 mtpa by FY27.

  • Efficiency gains from India Cements capex to start reflecting from Q4 FY27, with significant cost improvements by FY28.

  • Brand transition for India Cement to UltraTech expected to complete by FY27.

  • Cement demand expected to recover in FY26 with 7-8% growth, supported by RBI rate cuts and government focus.

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Q2 25/2618 Oct, 2025
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Frequently asked questions

UltraTech Cement Limited, manufactures and sells cement and cement related products in India. The company operates through Cement and Cement Related Products, UltraTech Building Solutions, and Other segments. It offers ordinary portland cement; blended hydraulic cements, such as pozzollana portland cement, slag portland cement, and super sulphate-resisting portland cement; white cement; white blended cements; concrete admixtures, such as super plasticizers and retarders; ready mix concretes; and bulk cements. UltraTech Cement Limited is a subsidiary of Grasim Industries Limited.

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