Transcript of Q4 FY26 Earnings Call of UltraTech Cement Limited
ULTRACEMCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
UltraTech Cement achieved a major milestone by crossing 200 million tons of domestic cement production capacity in FY26, becoming the largest cement company globally outside China. The company completed 100% brand migration for India Cements and Kesoram acquisitions ahead of schedule. Q4 FY26 saw consolidated sales volumes of 44 million tons with UltraTech brand growing 19% year-on-year. EBITDA per ton improved to INR1,253 (INR1,296 excluding acquired assets) vs INR1,225 in Q4 FY25. Management guided for 7-8% sustainable volume growth, targeting double-digit growth in FY27. Cost efficiency program delivered INR185/ton with plans to exceed INR300/ton by FY28. The company maintains a strong balance sheet with net debt-EBITDA at 0.94x and committed INR8,000-10,000 crores annual capex. Board recommended dividend of INR240/share.
Strong execution with capacity milestone achieved ahead of schedule, improving margins, and robust cash generation positions UltraTech well for shareholder returns. West Asia conflict remains a near-term cost headwind but management has taken price increases to offset impact.