UltraTech Cement Q3 FY26 Results: PAT Up 32%, Revenue Rises 22%

• Consolidated PAT rises 32% YoY to ₹1,729 crore in Q3 FY26

• Revenue from operations climbs over 22% to ₹21,829 crore

• Global cement capacity expands to 194.06 MTPA after new commissioning

UltraTech Cement, India’s largest cement manufacturer and flagship company of the Aditya Birla Group, reported a strong financial performance for the December quarter of FY26, posting a consolidated net profit of ₹1,729.44 crore. This marks a sharp 32% increase compared to ₹1,363.44 crore recorded in the same quarter last year, according to a regulatory filing released on Saturday.

Revenue from operations rose more than 22% year-on-year to ₹21,829.68 crore, up from ₹17,778.83 crore in the corresponding quarter of FY25. Total consolidated income, including other earnings, stood at ₹21,965.26 crore for the period.

The company clarified that quarterly and nine-month results are not strictly comparable with previous periods due to recent acquisitions, including India Cements Ltd (ICL), Birla White WallCare (earlier Wonder WallCare), and UAE-based RAKWCT. In addition, the merger of Kesoram Industries’ cement business with UltraTech became effective from March 1, 2025.

Operationally, UltraTech delivered robust volume growth. Cement sales volumes increased 15% to 33.85 million tonnes (MT), while domestic grey cement production rose 15.4% to 36.37 MT during the quarter. Excluding volumes from India Cements and Kesoram in the base period, domestic grey cement markets recorded growth of 29.4%, the company said.

Capacity utilisation improved to 77%, up from 72% a year ago, reflecting stronger demand and better operational efficiency. UltraTech also reported an improvement in profitability metrics, with EBITDA per tonne rising by ₹140 year-on-year and ₹97 quarter-on-quarter to ₹1,051 per MT. However, sales realisation dipped marginally by 0.4% YoY and 3.3% QoQ.

The Ready Mix Concrete (RMC) segment also showed healthy momentum, with sales rising 26% year-on-year to ₹1,848 crore. RMC now accounts for about 3% of UltraTech’s cement volumes.

Providing an update on India Cements, which UltraTech acquired last year, the company said the southern-based entity is on a recovery path. Sales volumes reached 2.59 million tonnes during the quarter, registering 25% growth over last year. UltraTech added that ongoing efficiency improvements, completion of capex plans, and brand transition are expected to help ICL achieve targeted profitability in line with the parent company.

On the expansion front, UltraTech commissioned 0.6 MTPA of cement capacity at its Dhule grinding unit in Maharashtra and 1.2 MTPA at the Nathdwara integrated plant in Rajasthan during the quarter. With these additions, domestic grey cement capacity has increased to 188.66 MTPA. Including 5.4 MTPA in the UAE, UltraTech’s global cement capacity now stands at 194.06 MTPA.

The company invested ₹2,357 crore in capital expenditure during the quarter and further strengthened its balance sheet, reducing net debt to EBITDA to 1.08x, supported by healthy operating cash flows.

UltraTech also shared progress on its planned entry into the cables and wires segment, stating that critical orders have been placed, civil work is underway, and teams are being onboarded. The company remains confident of meeting its targeted launch timeline in Q3 FY27.