On consolidated basisQuarter ended March 2026 compared with Quarter ended March 2025.
Net sales (including other operating income) of UltraTech Cement has increased 11.86% to Rs 25799.47 crore.
Operating profit margin has jumped from 20.03% to 21.71%, leading to 21.26% rise in operating profit to Rs 5,600.31 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 15.46% to 15.91%. Purchase of finished goods cost rose from 2.56% to 3.15%. Employee cost decreased from 4.30% to 4.24%. Other expenses fell from 57.45% to 54.83%. Power and Oil fuel cost fell from 22.88% to 21.15%. Freight charges fell from 22.68% to 22.01%. Other income fell 14.27% to Rs 87.56 crore. PBIDT rose 20.49% to Rs 5687.87 crore. Provision for interest rose 2.50% to Rs 486.92 crore. Loan funds declined from Rs 24,102.18 crore as of 31 March 2025 to Rs 23,755.09 crore as of 31 March 2026. Inventories rose to Rs 9,694.28 crore as of 31 March 2026 from Rs 9,562.98 crore as of 31 March 2025. Sundry debtors were higher at Rs 6,028.75 crore as of 31 March 2026 compared to Rs 5,890.25 crore as of 31 March 2025. Cash and bank balance declined from Rs 1,673.32 crore as of 31 March 2025 to Rs 1,384.35 crore as of 31 March 2026. Investments rose to Rs 6,739.51 crore as of 31 March 2026 from Rs 5,156.47 crore as of 31 March 2025 . PBDT rose 22.50% to Rs 5200.95 crore. Provision for depreciation rose 7.43% to Rs 1208.1 crore. Fixed assets increased to Rs 99,626.77 crore as of 31 March 2026 from Rs 93,116.63 crore as of 31 March 2025. Intangible assets increased from Rs 7,681.78 crore to Rs 7,909.05 crore. Profit before tax grew 27.94% to Rs 3,992.85 crore. Share of profit/loss was 87.28% higher at Rs -1.37 crore. Extraordinary items were decreased to Rs -10.94 crore. Provision for tax was expense of Rs 980.52 crore, compared to Rs 626.05 crore. Effective tax rate was 24.63% compared to 20.19%. Net profit attributable to owners of the company increased 20.17% to Rs 2,982.76 crore. Equity capital stood at Rs 294.68 crore as of 31 March 2026 to Rs 294.68 crore as of 31 March 2025. Per share face Value remained same at Rs 10.00. Promoters? stake was 59.33% as of 31 March 2026 ,compared to 59.23% as of 31 March 2025 .
Full year results analysis.
Net sales (including other operating income) of UltraTech Cement has increased 16.53% to Rs 88511.53 crore.
Operating profit margin has jumped from 16.53% to 19.23%, leading to 35.54% rise in operating profit to Rs 17,020.23 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 15.57% to 16.48%. Purchase of finished goods cost rose from 2.46% to 2.85%. Employee cost decreased from 4.75% to 4.71%. Other expenses fell from 60.69% to 56.71%. Power and Oil fuel cost fell from 24.25% to 22.17%. Freight charges fell from 22.99% to 21.68%. Other income fell 22.40% to Rs 577.51 crore. PBIDT rose 32.30% to Rs 17597.74 crore. Provision for interest rose 13.40% to Rs 1871.71 crore. Loan funds declined from Rs 24,102.18 crore as of 31 March 2025 to Rs 23,755.09 crore as of 31 March 2026. Inventories rose to Rs 9,694.28 crore as of 31 March 2026 from Rs 9,562.98 crore as of 31 March 2025. Sundry debtors were higher at Rs 6,028.75 crore as of 31 March 2026 compared to Rs 5,890.25 crore as of 31 March 2025. Cash and bank balance declined from Rs 1,673.32 crore as of 31 March 2025 to Rs 1,384.35 crore as of 31 March 2026. Investments rose to Rs 6,739.51 crore as of 31 March 2026 from Rs 5,156.47 crore as of 31 March 2025 . PBDT rose 34.97% to Rs 15726.03 crore. Provision for depreciation rose 15.68% to Rs 4644.46 crore. Fixed assets increased to Rs 99,626.77 crore as of 31 March 2026 from Rs 93,116.63 crore as of 31 March 2025. Intangible assets increased from Rs 7,681.78 crore to Rs 7,909.05 crore. Profit before tax grew 45.12% to Rs 11,081.57 crore. Share of profit/loss was 49.76% lower at Rs -15.83 crore. Extraordinary items were decreased to Rs -138.55 crore. Provision for tax was expense of Rs 2738.84 crore, compared to Rs 1488.49 crore. Effective tax rate was 25.06% compared to 19.77%. Minority interest increased 4,184.91% to Rs 22.71 crore. Net profit attributable to owners of the company increased 35.21% to Rs 8,165.64 crore. Equity capital stood at Rs 294.68 crore as of 31 March 2026 to Rs 294.68 crore as of 31 March 2025. Per share face Value remained same at Rs 10.00. Promoters? stake was 59.33% as of 31 March 2026 ,compared to 59.23% as of 31 March 2025 .
Operational highlights:
Grey cement sales volumes for India reached 42.41 million tonnes in the quarter, rising 9.3% year-on-year, as capacity utilization surged to 89%, propelled by robust demand across housing, infrastructure, and commercial construction segments. For the full year, total grey cement volumes for India were 145.0 million tonnes
Others
Expansion:
During FY2026, the company commissioned 8 MTPA of new capacity across multiple locations. Subsequent to the close of the financial year, in April 2026, an additional 8.7 MTPA was commissioned, comprising .7 MTPA cement grinding unit at Shahjahanpur, Uttar Pradesh; .0 MTPA cement grinding unit at Visakhapatnam, Andhra Pradesh; and .0 MTPA cement grinding unit at Patratu, Jharkhand.
UltraTech?s total domestic grey cement manufacturing capacity has crossed the 200 MTPA milestone ? standing at 200.1 MTPA. Including its international footprint of 5.4 MTPA, UltraTech?s global cement manufacturing capacity now stands at 205.5 MTPA.
Projects currently under execution, backed by an ambitious capital commitment of over Rs.16,000 crores over the next three years, will propel the Company?s consolidated cement manufacturing capacity to over 240 MTPA.
Dividend:
The board has recommended a special dividend of Rs 240 a share for fiscal 26.
| UltraTech Cement : Consolidated Results |
| | Quarter ended | Year ended |
|---|
| Particulars | 202603 | 202503 | Var.(%) | 202603 | 202503 | Var.(%) |
|---|
| Net Sales (including other operating income) | 25,799.47 | 23,063.32 | 11.86 | 88,511.53 | 75,955.13 | 16.53 | | OPM (%) | 21.71 | 20.03 | 168 bps | 19.23 | 16.53 | 270 bps | | OP | 5,600.31 | 4,618.44 | 21.26 | 17,020.23 | 12,557.45 | 35.54 | | Other Inc. | 87.56 | 102.13 | -14.27 | 577.51 | 744.17 | -22.40 | | PBIDT | 5,687.87 | 4,720.57 | 20.49 | 17,597.74 | 13,301.62 | 32.30 | | Interest | 486.92 | 475.04 | 2.50 | 1,871.71 | 1,650.54 | 13.40 | | PBDT | 5,200.95 | 4,245.53 | 22.50 | 15,726.03 | 11,651.08 | 34.97 | | Depreciation | 1208.1 | 1124.57 | 7.43 | 4644.46 | 4014.95 | 15.68 | | PBT | 3,992.85 | 3,120.96 | 27.94 | 11081.57 | 7636.13 | 45.12 | | Share of Profit/(Loss) from Associates | -1.37 | -10.77 | 87.28 | -15.83 | -10.57 | -49.76 | | PBT before EO | 3991.48 | 3110.19 | 28.34 | 11065.74 | 7625.56 | 45.11 | | EO Income | -10.94 | -9.35 | -17.01 | -138.55 | -97.43 | -42.20 | | PBT after EO | 3980.54 | 3100.84 | 28.37 | 10927.19 | 7528.13 | 45.15 | | Taxation | 980.52 | 626.05 | 56.62 | 2738.84 | 1488.49 | 84.00 | | PAT | 3000.02 | 2474.79 | 21.22 | 8188.35 | 6039.64 | 35.58 | | Minority Interest (MI) | 17.26 | -7.25 | PL | 22.71 | 0.53 | 4,184.91 | | Net profit | 2982.76 | 2482.04 | 20.17 | 8165.64 | 6039.11 | 35.21 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 2982.76 | 2482.04 | 20.17 | 8165.64 | 6039.11 | 35.21 | | EPS (Rs)* | 101.50 | 84.48 | 20.14 | 280.62 | 207.59 | 35.18 | | | * EPS is on current equity of Rs 294.68 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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