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UltraTech Cement Q3 results: Net profit surpasses estimates at ₹1,729 cr on strong cement sales
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Leading cement manufacturer UltraTech Cement Ltd on Saturday (January 24) reported a consolidated net profit of ₹1,729.4 crore for Q3 FY26, up 27% from ₹1,363 crore in the same period last year, surpassing the CNBC-TV18 poll estimate of ₹1,540 crore.
The results include a one-time exceptional expense of ₹88 crore towards additional gratuity and leave encashment obligations under the new Labour Code effective November 21, 2025. Profit before interest, depreciation and tax (PBIDT) rose to ₹4,051 crore from ₹3,142 crore.
Revenue for the quarter rose 23% to ₹21,830 crore from ₹17,778.8 crore a year ago, also above the CNBC-TV18 poll forecast of ₹21,235 crore.
EBITDA grew 35.2% to ₹3,915 crore versus ₹2,895.2 crore in Q3 FY25, exceeding the CNBC-TV18 estimate of ₹3,532 crore. EBITDA margin improved to 17.94% from 16.28% year-on-year, compared with the CNBC-TV18 poll margin of 16.63%.
Consolidated cement sales volumes recorded a growth of 15% year-on-year, slightly below the CNBC-TV18 poll expectation of 19–21%. Consolidated net sales increased 23% to ₹21,506 crore from ₹17,555 crore in the same quarter last year.
UltraTech's overall capacity utilisation improved to 77% compared to 72% previously. Domestic grey cement markets, excluding India Cements and Kesoram volumes from the prior period, grew 29.4%, while the UltraTech brand recorded a 22.3% rise following product quality improvements and integration of marketing and logistics for acquired assets. Operating EBITDA per tonne rose to ₹1,051 from ₹911, excluding India Cements.
India Cements reported quarterly sales volumes of 2.59 million metric tons, up 25% year-on-year, and is expected to achieve targeted profitability as efficiency improves, capex plans are completed, and brand transition to UltraTech progresses.
On capacity expansion, UltraTech commissioned 0.6 mtpa at its Dhule grinding unit, Maharashtra, and 1.2 mtpa at Nathdwara integrated unit, Rajasthan, raising domestic grey cement capacity to 188.66 mtpa and global capacity to 194.06 mtpa, including 5.4 mtpa in the UAE.
The company ranks as the second largest cement producer globally by capacity and the largest by sales volumes outside China. During the quarter, UltraTech invested ₹2,357 crore in ongoing capex, while net debt-to-EBITDA improved to 1.08x.
The next phase of expansion will add 22.8 mtpa through brownfield and greenfield projects, taking total capacity to 240.76 mtpa. The Cables and Wires business is on track with critical orders placed, civil work underway, and the project team onboarded, targeting a Q3 FY27 launch.
On sustainability, UltraTech added 14 MW of waste heat recovery system (WHRS) capacity, bringing total WHRS capacity to 383 MW. Green power accounted for 42.1% of the company's power mix during the quarter.
Source: Msn.com
Source: Msn
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