UltraTech Cement Limited – Investor Presentation Summary

Key Operational Highlights

  • Consolidated grey cement sales volume was 41.31 Million Tonnes (MnT) for Q1FY27, a growth of 12.2% Year-over-Year (YoY).
  • The UltraTech brand specifically grew by 21.3% YoY.
  • Domestic grey cement volume was 39.17 MnT, up 13.1% YoY.
  • White cement domestic volume was 0.53 MnT, up 12.8% YoY.
  • Overseas volume (grey + white) was 1.57 MnT.
  • Export and others volume was 0.15 MnT, up 17.3% YoY.
  • Ready Mix Concrete (RMC) and Construction Chemicals businesses grew 22.4% and 51.6% YoY in revenue, respectively.
  • Key drivers included robust demand across infrastructure, housing, and commercial segments in most regions, partially offset by challenges in the East and South due to sand, labor, and fund flow issues.

Segment-wise Performance

Performance by product segment is provided in the revenue breakdown.

Financial Highlights

Revenue: Rs. 24,465 crore (Consolidated, after eliminating inter-company sales), up 16.3% YoY.

Operating EBITDA: Rs. 5,015 crore (Consolidated).

PAT: Rs. 2,604 crore (Consolidated).

Operating EBITDA per tonne: Rs. 1,214, an increase of Rs. 16 per tonne YoY.

YoY comparison: Consolidated Net Sales grew from Rs. 21,040 crore in Q1FY26 to Rs. 24,465 crore in Q1FY27.

Drivers of financial performance: Higher sales volumes and improved operational efficiency.

Key Costs (Domestic operations excluding ICL):

  • Power cost: Rs. 322/tonne (Q1FY27) vs. Rs. 356/tonne (Q1FY26).
  • Logistics cost: Rs. 1,318/tonne (Q1FY27).
  • Fuel cost: Rs. 1,702/tonne (Q1FY27).
  • Raw material cost: Rs. 675/tonne (Q1FY27).

Geographical Revenue Split

Domestic vs Export: Domestic operations constitute the vast majority of revenue. A specific domestic/export revenue split percentage is not provided in the presentation.

Regional Breakdown: Demand drivers were detailed for North, Central, East, West, and South regions, but a revenue split by region was not provided.

Balance Sheet Snapshot

As of June 2026 (Consolidated):

  • Net Fixed Assets: Rs. 1,09,021 crore.
  • Net Working Capital: Rs. (1,582) crore.
  • Shareholder's Fund (incl. minority interest): Rs. 83,432 crore.
  • Net Debt: Rs. 15,875 crore.
  • Gross Debt: Rs. 22,704 crore.
  • Treasury Surplus: Rs. 6,829 crore.

Financial Health Insights: Strong balance sheet with a treasury surplus reducing net debt.

Capex & Cash Flow Health

Capital Expenditure: A major expansion is underway. Capacity addition of 15.9 MTPA is planned for FY27, and 29.8 MTPA for FY28.

Investment Rationale: Focus on significant capacity expansion to maintain market leadership and meet growing demand.

Strategic & R&D Initiatives

Wires and Cables Business: A new vertical is being launched in Q3FY27 with a total investment planned of Rs. 1,800 crore (Rs. 888 crore committed till June'26). Regulatory certifications are secured, trial production is underway, and the supply chain is established.

Strategic Rationale: Diversification and expansion into adjacent building materials segments.

Industry Trends & Business Environment

Macro/Industry Trends: RBI estimates India's FY27 GDP growth at ~6.6%. GST collections grew 13.9% YoY in June'26, indicating improving economic activity. Manufacturing and Services PMI remained in expansion territory (>50). Regional demand varied, with strong infrastructure and housing demand in North, Central, and West, but subdued conditions in the East and South due to local issues.

Impact on Company: The company capitalized on strong demand in most regions to post volume growth, though regional challenges were noted.

Management Commentary & Growth Outlook

Strategic Outlook: The presentation highlights the company's role as "A key enabler for India's infrastructure development" and its "industry-leading 39% EBITDA share".

FY Guidance: The capacity roadmap explicitly targets growth to 207.3 MTPA by end of FY27 and 237.1 MTPA (India) / 242.5 MTPA (Overall) by end of FY28.

ESG Updates

FY26 Consolidated Performance:

  • Scope 1 Net CO2 Emission: 538 kg/t of cement, with a FY32 target of 462 kg/t.
  • Water Positive: 5.8x.
  • Circular Economy: 49.8 MnT of alternative raw materials and fuels consumed.
  • Green Power Mix: 35.8% of total power (41.6% for domestic operations excluding ICL).

Initiatives: Deployed 45 electric heavy-duty trucks, estimated to reduce 8,900 tonnes of CO2 annually. Launched the ParashBag Organic Vegetable Cultivation Programme to improve rural nutrition.

ESG Ratings: S&P Global CSA Score 71 (2025), Crisil ESG Score 59 (2025), NSE Sustainability Rating 61 (2025).

CSR: 28,763 healthcare beneficiaries, 7,812 education beneficiaries, 19,749 village infrastructure beneficiaries, 14,280 social reform beneficiaries.