Manufactures and sells cement and ready-mix concrete in India, earning Rs 40,655.68 cr of revenue in FY26. Cement is the dominant business at Rs 38,897.99 cr in revenue for FY26, with ready-mix concrete contributing Rs 1,965.17 cr over the same period. Cement sales volume reached a record 73.7 million tonnes in FY26 (+16% YoY) at an EBITDA per tonne of Rs 887. Cement capacity stood at 109 MTPA at end-FY26, with a target of 119 MTPA by FY27 end. The trade channel accounted for 74% of cement sales in Q4 FY26, and premium cement made up 35-36% of trade volumes. Green power contributed 32% of the energy mix. Ready-mix concrete, though smaller, serves the same construction-sector customer base. Cost structure is dominated by other operating expenses at 63.4% of revenue, with materials at 16%, depreciation at 8.8% and employees at 3.9%. Cost of production peaked at Rs 4,500/tonne in Q4 FY26 (against an earlier Rs 4,000 target), driven by acquired-asset inefficiencies, packaging costs and fuel inflation; full-year FY27 target is Rs 4,250/tonne. Capex was 15.6% of revenue in FY26, with FY27 guided at Rs 6,000-6,500 cr at an 18% project IRR threshold. The company is debt-free with an AAA credit rating and is consolidating several acquired cement companies — Sanghi Industries and Penna Cement amalgamations are completed, with ACC and Orient Cement schemes pending shareholder/NCLT approval. Sanghi ran at 57% utilization and Penna at 46% in FY26, pulling on consolidated costs. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Cement, Ready Mix Concrete. Cyclical, asset-heavy cement manufacturer in an active capacity-expansion and M&A consolidation phase.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | — | 38,937 | 33,160 | 35,045 | 40,656 |
| EBITDA (ex other income) | — | 4,803 | 6,611 | 5,949 | 6,238 |
| margin % | — | 12.3 | 19.9 | 17.0 | 15.3 |
| Owners' profit | — | 2,583 | 3,577 | 4,145 | 4,728 |
| EPS, as reported (₹) | — | 13.01 | 17.99 | 17.00 | 19.15 |
| ROE % · ROCE % | — · — | 7.8 · 9.7 | 9.3 · 11.6 | 8.1 · 9.1 | 7.8 · 4.6 |
| Debt / equity (x) | — | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | — | 735 | 5,646 | 3,295 | 5,362 |
| Capex | — | (4,232) | (4,482) | (8,687) | (6,344) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7,516 | 9,329 | 9,889 | 10,289 | 9,174 | 10,277 | 10,915 | 9,500 |
| Profit before tax | 710 | 2,333 | 1,775 | 1,328 | 833 | 407 | 522 | 843 |
| Net profit | 473 | 2,620 | 1,282 | 970 | 2,302 | 367 | 1,857 | 660 |
| EPS (₹) | 1.85 | 8.59 | 3.88 | 3.20 | 7.15 | 0.82 | 7.41 | 2.32 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Cement | 38,898 | 95.2 |
| Ready Mix Concrete | 1,544 | 3.8 |
| Ready mix concrete | 421 | 1.0 |
| Total, before eliminations | 40,863 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ULTRATECH CEMENT LIMITED | 3,24,148 | 37.9 | 4.02 | 19.9 | 10.1 | 10.2 | 14.6 | 20.8 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Ambuja Cements to meet investors at Jefferies India Forum on Sept 17 | board shareholder meetings | low | — | — |
| 29 Aug 2026 · Ambuja Cements to host analyst plant visit at Sanghi Plant on Sep 3, 2026 | board shareholder meetings | low | — | — |
| 28 Aug 2026 · ACC-Ambuja merger shareholder meet set for Sept 29 | compliance | minimal | — | — |
| 27 Aug 2026 · Ambuja-ACC merger: Shareholder meeting on Sept 29 for NCLT scheme approval | strategic transactions | high | — | — |
| 27 Aug 2026 · NCLT meeting notice dispatched for Orient Cement merger | compliance | minimal | — | — |
| 26 Aug 2026 · NCLT-convened shareholder meeting to approve Orient Cement amalgamation | strategic transactions | high | — | — |
| 21 Aug 2026 · Ambuja Cements to meet investors at Adani Conference in London and Abu Dhabi | board shareholder meetings | low | — | — |
| 20 Aug 2026 · India Ratings assigns IND AAA Stable to bank loan facilities | credit debt | medium | — | — |
| 12 Aug 2026 · Ambuja Cements to interact with investors at Motilal Oswal conference on August 19 | board shareholder meetings | low | — | — |
| 10 Aug 2026 · Ambuja Cements commissions 1.2 MTPA brownfield expansion at Dahej | capex operations | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| GRASIM INDUSTRIES LTD | 2,23,350 | 39.1 | 1.31 | 17.4 | 6.1 | 3.2 | 18.1 | 16.6 |
| AMBUJA CEMENTS LTD ◆ | 97,375 | 22.1 | 1.36 | 13.7 | 7.8 | 4.3 | — | 18.3 |
| SHREE CEMENT LIMITED | 81,433 | 50.0 | 3.49 | 15.7 | 7.5 | 9.4 | 9.2 | 23.8 |
| JK CEMENT LIMITED | 37,445 | 39.6 | 5.28 | 17.2 | 13.9 | 10.3 | 15.7 | 17.0 |
| DALMIA BHARAT LIMITED | 33,326 | 35.2 | 1.84 | 12.2 | 6.4 | 5.2 | 7.1 | 19.6 |
| ACC LIMITED | 23,444 | 12.3 | 1.14 | 6.8 | 10.4 | 9.9 | — | 8.4 |
| THE RAMCO CEMENTS LIMITED | 20,521 | 31.8 | 2.54 | 11.9 | 8.6 | 7.1 | 11.3 | 14.3 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 22.1 | 24.6 | 17 of 35 | 53% |
| P/B | 1.4 | 1.5 | 17 of 34 | 52% |
| ROCE | 4.3 | 3.7 | 17 of 37 | 56% |
| ROE | 7.8 | 7.7 | 19 of 38 | 51% |
| Debt / Equity | 0.0 | 0.4 | 8 of 38 | 81% |
| EBITDA margin | 18.3 | 13.1 | 10 of 37 | 75% |
| Revenue growth | (7.7) | 7.8 | 31 of 37 | 17% |
| Profit growth | (31.9) | (24.7) | 21 of 37 | 44% |
| Market cap | 97375 | 2005 | 3 of 38 | 95% |
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This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
