UltraTech Cement Limited has informed the Exchange about Transcript
ULTRACEMCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
UltraTech reported consolidated volume growth of 9.7% year-on-year in Q1 FY26, with Kesoram included in both periods. The CFO, Atul Daga, highlighted that cement industry demand grew 4.3% in Q4 FY25, correcting his earlier estimate of 4%, and indicated that government capex and infrastructure projects like the Vadhavan port and Maharashtra Shaktipeeth Expressway will drive demand. India Cements, acquired in December 2024, is on a recovery path with current operating EBITDA of around INR458 per ton (adjusted), targeted to exceed INR1,000 per ton by FY28 through capex on WHRS, alternate fuels, and efficiency upgrades. The company guided for double-digit volume growth in FY26 on a base of 135.8 million tons, with about 10 million tons of new capacity to be commissioned. South region pricing improved sequentially and is expected to stay firm, while power and fuel costs are expected to remain range-bound or decline.
Positive for shareholders as the management is guiding for double-digit volume growth, margin improvement at India Cements, and additional growth phases. The capex of ~INR10,000 crores in FY26 supports expansion plans, but integration risks of India Cements and Kesoram remain key items to watch.