• Event Type: Q1 FY27 Earnings Conference Call hosted by Nomura on July 28, 2026
  • Management Participants:
  • Mr. Karan Adani – Director – Ambuja Cements Limited
  • Mr. Vinod Bahety – Chief Executive Officer – Ambuja Cements Limited
  • Mr. Rohit Soni – Chief Financial Officer – Ambuja Cements Limited
  • Mr. Deepak Balwani – Head Investor Relations – Ambuja Cements Limited
  • Moderator: Mr. Jashandeep Chadha – Nomura
  • Financial Period Discussed: Quarter ended June 30, 2026 (Q1 FY27)
  • Key Financial Highlights:
  • Revenue: INR 9,500 crores
  • Operating EBITDA: INR 1,589 crores
  • EBITDA Margin: 16.7% (improved 331 basis points)
  • EBITDA per ton: INR 931
  • Net cost reduced by INR 206 per metric ton sequentially to INR 4,241
  • PAT: INR 660 crores
  • Net worth: ~INR 72,000 crores
  • Operational Metrics:
  • Trade sales share improved from 74% to 78% of overall sales
  • Premium products comprise 34% of trade sales
  • Clinker factor improved by ~3% to 64%
  • Share of blended cement increased to 85%
  • Overall capacity utilization: 65%
  • RE power capacity: 973 megawatts (up almost 500 MW over past year)
  • WHRS capacity: 228 megawatts
  • Power cost reduced from INR 5.9 to INR 4.9 per kWH
  • Strategic Priorities:

1. Profitable growth with focus on value creation

2. Structural cost leadership targeting INR 4,250/ton for FY27

3. Disciplined capital allocation

4. Building future-ready enterprise through technology and sustainability

  • Capacity Expansion Update:
  • Current capacity: 109 million tons
  • Projects commissioning: Dahej (1.2 MT), Salai Banwa (2.4 MT), Bhatinda (1.2 MT), Jodhpur (2 MT)
  • Expected by FY27-end: 119 million tons capacity
  • Capex guidance: ~INR 6,500 crores for FY27
  • Cost Savings Initiatives:
  • Expected savings of INR 130-150/ton through various initiatives
  • Reduction in lead distance (additional 15 km expected)
  • Raw material logistics optimization
  • Increased RE power consumption
  • Targeted reductions in heat consumption (5 kcal/kg clinker)
  • Power consumption reduction (2-3 units/ton cement)
  • Regional Performance:
  • North: Continued leadership in EBITDA, grew 2% Y-o-Y in trade volumes
  • Central: Strong market with higher proportion of premium cement
  • West: Balanced between trade and non-trade, positive growth
  • East: Sustained trade volumes with healthy EBITDA margins
  • South: Conscious reduction in lower margin volumes

Additional Notes Section

  • The transcript was uploaded to the company website on August 03, 2026, following the July 28, 2026 earnings call
  • The document contains the complete Q&A session with analysts from various brokerages including ICICI Securities, Cantor Fitzgerald, CLSA, HDFC Securities, and others
  • Management addressed questions on volume strategy, cost reduction initiatives, capacity expansion plans, regional performance, and integration of acquired assets (Orient, Penna, Sanghi)
  • The company temporarily suspended operations at ~3.5 million tons of capacity for optimization, expected to last approximately six months