UltraTech Cement Q2 FY26 Earnings Profit Soars 75%; Announces ₹10,255-Crore Capacity Expansion

UltraTech Cement reported a 75.2% year-on-year jump in consolidated net profit for Q2 FY26, reaching ₹1,231.58 crore. Revenue from operations rose 20.3% YoY to ₹19,606.93 crore, driven by higher cement sales volumes, improved realisations, and lower input costs. Grey cement volumes grew 7.1% YoY, while average cement prices rose about 5% YoY, reaching ₹350–365 per bag.

Total expenses increased 15.9% YoY to ₹18,119.56 crore, but power, fuel, and logistics costs fell, boosting operating earnings before interest, tax, depreciation, and amortisation (EBITDA) per tonne to ₹966, up ₹242 YoY. Premium products continued to perform well, contributing 37.4% of total sales, up 14% YoY.

UltraTech Cement First Half FY26 Overview

For H1 FY26, UltraTech Cement’s revenue grew 16.4% YoY to ₹40,882.38 crore, and profit increased 57.3% YoY to ₹3,457.48 crore. On a sequential basis, revenue and profit dipped 8% and 44.7%, reflecting softer demand during the monsoon. As of September 2025, the company’s consolidated net debt stood at ₹19,706 crore.

₹10,255-Crore Capacity Expansion

UltraTech unveiled a major ₹10,255-crore expansion plan, which will increase its cement production capacity from 166.76 mtpa to 240.76 mtpa globally by 2027-28. The company expects to reach 200 mtpa by the end of FY26. This expansion underscores confidence in India’s infrastructure growth and upcoming large-scale projects, including Vadhvan Port, Amaravati’s development, Navi Mumbai International Airport, new data centres, and Google’s AI hub in Andhra Pradesh.

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UltraTech Cement Share Price Movement

As of 11:20 AM IST on October 20, 2025, UltraTech Cement share price (NSE: ULTRACEMCO) was trading at ₹12,269, down ₹101 or 0.82% for the day. The stock opened at ₹12,420, touched a high of ₹12,448, and a low of ₹12,175 during the session. UltraTech Cement has a market capitalisation of ₹3.60 lakh crore and a P/E ratio of 55.61. The stock’s 52-week high stands at ₹13,097, while the 52-week low is ₹10,047.85. The company offers a dividend yield of 0.63%, with a quarterly dividend amount of ₹19.33 per share.

Strategic Outlook

UltraTech’s CFO highlighted that the brand grew 13.2% in Q2FY26, driven by the rapid integration of acquired assets, with a 9.6% growth excluding India Cements. Transition to GST 2.0 on September 22 allowed the company to pass on tax benefits to customers, supporting price realisations.

Conclusion

UltraTech Cement’s strong quarterly performance, coupled with its ambitious capacity expansion, positions the company as a leader in India’s cement sector. With robust demand from infrastructure and industrial projects, UltraTech is poised for sustainable growth in the coming years.

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