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UltraTech Cement's profit jumps 49% as volumes, prices grow in Q1FY26
The company's grey cement realisations also improved by 2.4 per cent YoY to ₹5,165 per metric tonne (mt), amid an all-India YoY cement price hike of 6 per cent during the quarter.
The growth in the company's overall consolidated sales volume during the quarter was further boosted by its acquisitions of Kesoram Industries and India Cements.
However, during the company's earnings call on Monday, Atul Daga, Chief Financial Officer of UltraTech Cement, remarked, 'We had gotten used to double-digit growth (in sales volume) just recently, year after year, quarter after quarter, and anything less seems to be slow.'
Further, the profit marginally missed the Bloomberg analysts' poll estimate of ₹2,251.03 crore. The company's revenue from operations in Q1 FY26 grew by 13.1 per cent YoY to ₹21,275.45 crore, though it also missed analysts' estimates of ₹21,506 crore.
'We believe our results this quarter demonstrate our ability to adapt to the changing market scenario while delivering on our financial commitments,' Daga said.
According to Elara Capital, average pan-India cement prices rose by 3 per cent quarter-on-quarter (QoQ) in Q1 FY26 to ₹377 per bag.
The YoY price increase reflects a rebound from Q1 FY25 when prices had declined by about 4 per cent due to the demand being affected by the general elections. In Q1 FY26, prices softened in June 2025 with the onset of the monsoon.
The company's total expenses for the quarter stood at ₹18,405.19 crore, up 7.97 per cent YoY. Energy costs for grey cement were lower by 12 per cent YoY to ₹871 per mt, mainly due to reduced fuel prices. The company's logistics cost during the quarter declined by 4 per cent YoY, while power costs dropped by 8 per cent YoY.
In Q1 FY26, the company's operating EBITDA per tonne was ₹1,248, up 38.82 per cent YoY. The share of premium products in the company's sales stood at 33.8 per cent, compared to 24 per cent in Q1 FY25.
Sequentially, the company's revenue declined by 7.75 per cent and profit by 10.31 per cent.
UltraTech increased its grey cement capacity by 3.5 million tonnes per annum (mtpa) in Q1 FY26, bringing its total capacity to 192.26 mtpa. The company aims to grow its grey cement capacity to 197.5 mtpa by the end of FY26. The company spent approximately ₹2,000 crore in capital expenditure during Q1 FY26.
The company's consolidated net debt stood at ₹16,340 crore as of June 2025.
UltraTech is targeting a double-digit volume growth going forward, driven by new capacity additions, mega infrastructure projects, healthy rural demand, and urban housing activity. 'We will grow higher than the industry,' Daga added.
The company's share, listed on the Bombay Stock Exchange, closed at ₹12,574.35 on Monday (July 21).
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