Ambuja Cements FY26 Volume Up 16% Despite Margin Pressure

Ambuja Cements reported 16% volume growth to 73.7 MnT in FY26, outperforming industry, though EBITDA per tonne declined 6% to ₹887.
The company commissioned new clinkering capacity and plans to increase total capacity to ~119 MTPA in H1FY27 while targeting cost reductions of ₹150-200 PMT.
Q4 FY26 was impacted by fuel cost inflation and supply constraints, with management forecasting soft 5% demand growth for FY27 due to monsoon and geopolitical risks.
Ambuja remains debt-free with ₹71,846 Cr net worth and strong ESG credentials, including water positive status and significant renewable energy adoption.