Ambuja Cements (500425) Q1 25/26 earnings summary

Executive summary

• Achieved highest-ever quarterly revenue and EBITDA, with sales volume reaching 18.4 million tons, up 20% YoY, and market share rising to 15.5%.

• Seamless integration of Orient Cement and Penna Cement, along with other acquisitions, significantly expanded operational capacity and market presence.

• Maintained a debt-free balance sheet and highest credit ratings, supporting future growth and shareholder value.

• Recognized as 'India's Most Trusted Cement Brand 2025' for the fourth consecutive year.

• Board approved unaudited financial results for Q1 FY26 and appointed a new internal auditor effective October 1, 2025.

Financial highlights

• Consolidated revenue from operations for Q1 FY26 was INR 10,289 crore, up 23% YoY; EBITDA at INR 1,961 crore, up 28% YoY; EBITDA margin at 19.1%.

• PAT at INR 970 crore, up 24% YoY; EPS at 3.20, up 22% YoY.

• Net worth at INR 66,436 crore; cash and cash equivalents at INR 3,000 crore post major acquisitions and CapEx.

• Costs per ton for raw material, power, and freight have been consistently reduced quarter-on-quarter.

• Standalone revenue and net profit also grew year-over-year, with standalone EPS at ₹3.47.

Outlook and guidance

• Demand estimate raised to 7–8% growth for FY2026, driven by robust housing and infrastructure investments.

• Targeting 118 million tons cement capacity by end of FY2026 and 140 million tons by FY2028 through brownfield expansions and debottlenecking.

• Blueprint to achieve EBITDA of INR 1,500 per ton by 2028; cost reduction initiatives to continue.

• CapEx guidance of INR 9,000–10,000 crore for FY2026, with major expansions on track.

• Results for the quarter are not fully comparable to previous periods due to inclusion of new entities and segment changes.