India Cements

UltraTech Cement delivered a landmark Q4 FY26, crossing 200 million tonsCurrent 200 million tons. Reported change: +33% vs FY24. of domestic capacity—a first for any company outside China—a full year ahead of target. Consolidated sales volumes hit 44 million tonsCurrent 44 million tons. Reported change: +19% YoY (UltraTech brand)., with UltraTech brand volumes growing 19% YoYCurrent reported value: 19% YoY. No comparable prior figure is available in the source record.. EBITDA per ton improved to ₹1,253Current reported value: ₹1,253. No comparable prior figure is available in the source record. (₹1,225 in Q4 FY25), driven by brand migration completion, premiumization, and cost efficiencies. India Cements' EBITDA per ton rose sequentially to ₹497, with a path to ₹1,000+ by FY28. Management guided for 7-8%Current reported value: 7-8%. No comparable prior figure is available in the source record. sustainable volume growth and annual capex of ₹8,000-10,000 crore. Key risks: West Asia conflict driving bag and fuel cost inflation, and forex volatility from rupee depreciation.