AMBUJACEM / Q2-FY26 / claim-ledger

Audit the questions that mattered.

Ambuja Cements · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ2-FY26 · 2025-11-15Back to quarter ↗

Questions audited

12

Answered directly

54%

Numeric claims

2

Consistency

mixed

Question ledger

What was answered, and how?

Amit Muraka · Access Capital

partial

Why did other expenses per ton drop in Q2 despite maintenance quarter?

This reduction of almost 62 rupees per ton comes from the improved synergies and efficiency gain... improved our overall sales promotion and marketing strategies... more effective media than the costly media.

Amit Muraka · Access Capital

direct

Why did working capital increase by ~2,000 cr?

Two factors: receivables from higher non-trade sales in monsoon quarter, and inventory buildup of coal, finished goods, and spares. We built up almost two to three months of coal inventory.

Amit Muraka · Access Capital

partial

Details on clinker debottlenecking locations?

We will be setting up another three kilns, almost 12 million tons... one is going to come up in Bhatapara itself... Chhattisgarh is one area... then Sangi... north and west primarily.

Naven Sahadev · IC Securities

partial

Is there more debottlenecking scope beyond 13 locations?

This is our phase one... whether we will have more of them, yes, I think down the line but right now these are like low-hanging fruits for us to immediately move on.

Naven Sahadev · IC Securities

evasive

Will other expenses remain high or taper down?

I won't say this peaked out... the real improvement will begin from the next financial years. However, my optimism for 4,000 rupees a ton by end of this financial year remains.

Rahul Gupta · Morgan Stanley

evasive

How much of the 70 rupees per ton additional cost will continue?

70 rupees per ton will... results will start flowing in... the opex part for the maintenance will now be controlled, sustained and reduced with the benefits of improved capacity utilization.

Rahul Gupta · Morgan Stanley

direct

Clarify cost targets: 4,000 by March 26? 3,650 by March 28?

I would say pick it as March. So 4,000 is exit of FY26, therefore pick it as March 26, likewise March 27 and then March 28.

Rahul Gupta · Morgan Stanley

partial

What will be the share of RMC revenues?

On a full-blown basis let us say FY28... it would be around ballpark around 5% of my full blow capacity of cement RMX will consume. We are targeting 365 odd RMX plants.

Manish Somaya · Caner Fisgirl London Company

partial

How sustainable is the 20% volume growth?

Quite bullish to achieve double digit growth, may not be 20% when the acquired assets mature... but surely double digit growth is what we are targeting.

Rashi · City Group

direct

Bridge of cash reduction from June to September?

From 2,971 crores majorly it is going in terms of the capex program, almost 1,400 crore is actually from capex program... my average hit rate for the quarter is almost 2,000 crores.

Ritisha · Investic

direct

Elaborate on technology, operational efficiency, and plant age reduction?

Heat consumption comes to almost 680 kilo calories compared to existing 730-740... power consumption... new assets will come at less than 50 units per ton... 40% reduction in average age by FY28.

Patanjali Shinasan · Sundra Mutual Fund

deflected

Why expand fast when utilization is dropping?

We are well on our journey to achieve 140 million tons... this 15 million tons of debottlenecking will take me to 155 million... our share of market will continue to go up, this quarter we have increased by 1%.