Cement production capacity
200 million tons
+33% vs 150M tons in 2024
UltraTech became the first company outside China to achieve 200M tons capacity in a single country.
ULTRACEMCO
Diversified
15 Apr 2026
Ultracemco Ltd — Q4 FY26
UltraTech delivered a landmark Q4 FY26, crossing 200 million tons of cement production capacity in India, a first for any company outside China.
Financial stats pending filing verification
2-Minute Summary
✦ AI-Generated from Full Transcript
UltraTech delivered a landmark Q4 FY26, crossing 200 million tons of cement production capacity in India, a first for any company outside China. Consolidated sales volumes hit a record 44 million tons, with UltraTech brand volumes growing 19% YoY. EBITDA per ton (ex-acquired assets) reached ₹1,296, up from ₹1,225 in Q4 FY25. India Cements' EBITDA per ton improved to ₹497, with full brand migration completed a quarter early. The board declared a dividend of ₹240 per share, reflecting confidence in cash flows. Management guided for 7-8% sustainable volume growth and double-digit growth in FY27, with annual capex of ₹8,000-10,000 crore. Key risks include West Asia conflict-driven cost inflation (fuel, bags, forex) and potential demand disruption from elections or heatwaves. However, UltraTech's scale, green energy platform (43% of power from renewables), and cost efficiency programs position it well to navigate headwinds.
अल्ट्राटेक ने वित्त वर्ष 2026 की चौथी तिमाही में बड़ी उपलब्धि हासिल की। भारत में इसकी सीमेंट बनाने की क्षमता 20 करोड़ टन पार कर गई, जो चीन के बाहर किसी भी कंपनी के लिए पहली बार है। कुल बिक्री 4.4 करोड़ टन रही, जो रिकॉर्ड है। अल्ट्राटेक ब्रांड की बिक्री पिछले साल से 19% बढ़ी। कमाई (EBITDA) 1,296 रुपये प्रति टन हुई, जो पिछले साल 1,225 रुपये थी। कंपनी ने 240 रुपये प्रति शेयर लाभांश देने का ऐलान किया। आने वाले साल में 7-8% बढ़ोतरी का अनुमान है। जोखिमों में पश्चिम एशिया संघर्ष से लागत बढ़ना और चुनाव या गर्मी से मांग कम होना शामिल है।
Key Numbers
Consolidated sales volume
44 million tons
+19% YoY (UltraTech brand)
Record quarterly volume driven by strong demand and full brand migration of acquired assets.
EBITDA per ton (ex-acquired)
₹1,296
+5.8% YoY
Improved from ₹1,225 in Q4 FY25, reflecting cost efficiencies and better realizations.
Green energy share
43%
+3pp YoY
43% of power needs met from renewable sources, targeting 85% by FY30.
Management Guidance
Volume growth of 7-8% per annum sustainable
Management expects sustainable volume growth of 7-8% per annum driven by urbanization, infrastructure, and housing demand.
Management guidance growthDouble-digit volume growth in FY27
For fiscal 2027, UltraTech targets double-digit volume growth.
Management guidance growthAnnual capex of ₹8,000-10,000 crore for foreseeable future
UltraTech plans to invest ₹8,000-10,000 crore annually in capex, including expansion beyond 240 million tons.
Management guidance capexCost efficiency program to deliver >₹300 per ton by FY28
The ongoing cost efficiency program is expected to deliver more than ₹300 per ton in savings by fiscal 2028, up from ₹185 already achieved.
Management guidance marginsKey Risks
West Asia conflict driving cost inflation
Rising fuel, pet coke, and bag costs due to the West Asia conflict could pressure margins. Management noted a potential impact on fuel and freight costs.
high · management_commentaryForex volatility from rupee depreciation
The rupee's depreciation to ₹94.85/USD caused a non-cash mark-to-market hit of ~₹130 crore on foreign currency borrowings, impacting EBITDA.
medium · management_commentaryDemand disruption from elections and heatwaves
Analyst raised concern about potential demand slowdown due to elections in Bengal and Tamil Nadu and extreme heat. Management acknowledged a temporary slowdown in the last 15 days of the quarter.
low · analyst_questionCement industry fragmentation limiting price hikes
Analyst questioned why cement industry struggles to pass on cost hikes compared to steel and PVC. Management attributed it to industry fragmentation, implying pricing power remains constrained.
medium · analyst_questionNotable Quotes
We crossed 200 million tons of cement production capacity in India, a first for any company in a single country outside of China.
Dividend is not simply a financial transaction. It is a communication of our confidence and commitment to our shareholders and investors.
Fragmentation of the industry is as short and sweet an answer, Pinakin, that I can give you.
Frequently Asked Questions
What was Ultracemco's revenue in Q4 FY26?
Ultracemco reported revenue of — in Q4 FY26, representing a — change compared to the same quarter last year.
What guidance did Ultracemco management give for FY27?
Volume growth of 7-8% per annum sustainable: Management expects sustainable volume growth of 7-8% per annum driven by urbanization, infrastructure, and housing demand. Double-digit volume growth in FY27: For fiscal 2027, UltraTech targets double-digit volume growth. Annual capex of ₹8,000-10,000 crore for foreseeable future: UltraTech plans to invest ₹8,000-10,000 crore annually in capex, including expansion beyond 240 million tons. Cost efficiency program to deliver >₹300 per ton by FY28: The ongoing cost efficiency program is expected to deliver more than ₹300 per ton in savings by fiscal 2028, up from ₹185 already achieved.
What are the key risks for Ultracemco in FY27?
Key risks include West Asia conflict driving cost inflation — Rising fuel, pet coke, and bag costs due to the West Asia conflict could pressure margins. Management noted a potential impact on fuel and freight costs.; Forex volatility from rupee depreciation — The rupee's depreciation to ₹94.85/USD caused a non-cash mark-to-market hit of ~₹130 crore on foreign currency borrowings, impacting EBITDA.; Demand disruption from elections and heatwaves — Analyst raised concern about potential demand slowdown due to elections in Bengal and Tamil Nadu and extreme heat. Management acknowledged a temporary slowdown in the last 15 days of the quarter.; Cement industry fragmentation limiting price hikes — Analyst questioned why cement industry struggles to pass on cost hikes compared to steel and PVC. Management attributed it to industry fragmentation, implying pricing power remains constrained..
Did Ultracemco meet its previous quarter's guidance?
Of 2 tracked promises, management 0 met, 0 close, 2 missed.
Where can I read the full Ultracemco Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.