The results reflect a one-time exceptional cost of ₹88 crore related to additional gratuity and leave encashment obligations due to the new Labour Code effective November 21, 2025. Profit before interest, depreciation, and tax (PBIDT) escalated to ₹4,051 crore, up from ₹3,142 crore.
Revenue for the quarter surged 23% to ₹21,830 crore, compared to ₹17,778.8 crore last year, also surpassing the CNBC-TV18 poll forecast of ₹21,235 crore.
EBITDA increased by 35.2% to ₹3,915 crore from ₹2,895.2 crore in Q3 FY25, exceeding the CNBC-TV18 estimate of ₹3,532 crore. The EBITDA margin improved to 17.94% from 16.28% year-on-year, compared to the poll margin of 16.63%.
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Consolidated cement sales volumes experienced a 15% year-on-year growth, slightly below the CNBC-TV18 poll expectation of 19–21%. Consolidated net sales rose 23% to ₹21,506 crore from ₹17,555 crore in the same quarter last year.
UltraTech’s overall capacity utilization improved to 77% from 72% previously. Domestic grey cement markets, excluding India Cements and Kesoram, grew by 29.4%, while the UltraTech brand saw a 22.3% increase due to product quality enhancements and optimized marketing and logistics for acquired assets. Operating EBITDA per tonne climbed to ₹1,051 from ₹911, excluding India Cements.
India Cements reported quarterly sales volumes of 2.59 million metric tons, representing a 25% year-on-year increase, and is expected to attain targeted profitability with improved efficiency, completed capex plans, and brand transition to UltraTech.
In terms of capacity expansion, UltraTech has commissioned 0.6 mtpa at its Dhule grinding unit in Maharashtra and 1.2 mtpa at the Nathdwara integrated unit in Rajasthan, increasing domestic grey cement capacity to 188.66 mtpa, with a global capacity of 194.06 mtpa, including 5.4 mtpa in the UAE.
Also Read: UltraTech Cement commissions additional capacity at Maharashtra and Rajasthan units
The company stands as the second largest cement producer worldwide by capacity and the largest by sales volumes, excluding China. In this quarter, UltraTech invested ₹2,357 crore in ongoing capex, while net debt-to-EBITDA improved to 1.08x.
The upcoming expansion phase will contribute an additional 22.8 mtpa through brownfield and greenfield projects, raising total capacity to 240.76 mtpa. The Cables and Wires segment is progressing with critical orders, civil work in progress, and a project team onboarded, aiming for a Q3 FY27 launch.
Regarding sustainability, UltraTech has added 14 MW of waste heat recovery system (WHRS) capacity, increasing total WHRS capacity to 383 MW. Green power constituted 42.1% of the company’s power mix during the quarter.
Also Read: UltraTech receives a tax notice of ₹782 crore
Shares of UltraTech Cement Ltd closed at ₹12,368.30, marking an increase of ₹3.80, or 0.031%, on the BSE.
