Ambuja Cements (500425) Q1 25/26 earnings summary

Executive summary

• Achieved highest-ever quarterly sales volume of 18.4 million tons, up 20% year-over-year, with revenue surpassing INR 10,000 crore, a 23% increase year-over-year.

• EBITDA reached a record INR 1,961 crore, up 53% year-over-year, and PAT rose 24% to INR 970 crore.

• Cement capacity stands at 104.5 million tons, with a roadmap to reach 118 million tons by March 2026 and 140 million tons by FY2028.

• Remained debt-free with a net worth of INR 66,436 crore and maintained top-tier credit ratings.

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

Financial highlights

• Consolidated revenue from operations for Q1 FY26 was INR 10,289 crore, up from INR 8,392 crore in Q1 FY25.

• EBITDA margin improved to 19.1% from 15.3% year-over-year.

• PAT at INR 970 crore, up 24% YoY; EPS at 3.20, up from 2.62 year-over-year.

• Cost per metric ton improved by INR 119 YoY; premium products now 33% of trade sales, up 43% YoY.

• EBITDA per ton improved to INR 1,069 from INR 835 year-over-year.

Outlook and guidance

• Cement demand expected to grow 7–8% in FY2026, driven by robust housing and infrastructure investments.

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

• Blueprint to achieve EBITDA of INR 1,500 per metric ton by 2028.

• CapEx guidance for FY2026 is INR 9,000–10,000 crore.

• Focus on premiumization, cost optimization, and digitalization to drive future profitability.