UltraTech Cement Q4FY26 Results: Highest-ever sales volume, PBIDT and PAT; Milestone 200 MTPA capacity reached

UltraTech Cement Limited, an Aditya Birla Group company and a leading building solutions provider, today announced landmark financial results for the quarter and full year ended 31st March, 2026. Against the backdrop of a challenging geopolitical environment, UltraTech delivered exceptional results across every dimension of performance: volumes, revenues, profitability, and balance sheet strength. This is the outcome of decades of disciplined strategy, relentless execution, and an unwavering commitment to creating enduring value for all stakeholders.               
 

FINANCIAL HIGHLIGHTS — Q4 FY26

Consolidated Net Sales rose to Rs. 25,467 crores - a robust 12% year-on-year advance - vis-à-vis Rs. 22,788 crores in the corresponding period of the prior year. Profit before Interest, Depreciation and Taxation (PBIDT) scaled to an all-time quarterly high of Rs. 5,688 crores, a 20% year-on-year surge, while the Operating PBIDT per tonne ascended to a robust Rs. 1,253 per tonne - 11% ahead of the prior year - underscoring the formidable operating leverage embedded in UltraTech’s integrated business model. Normalised Profit after Tax for the quarter was a stellar Rs. 3,011 crores, registering a 21% year-on-year leap, affirming the quality, consistency, and compounding momentum of the Company’s earnings trajectory. Operating margin expanded to 22%, a 200-basis point improvement year-on-year.               
 

FINANCIAL HIGHLIGHTS — FULL YEAR FY26

For the full year FY26, UltraTech delivered a historic financial performance. Consolidated Net Sales reached a record Rs. 87,384 crores against Rs. 74,936 crores in the previous fiscal, representing a 17% increase. Consolidated PBIDT rose 32% to an unprecedented Rs. 17,598 crores - the highest in the Company’s history on the back of strong volume growth, cost discipline, and the progressive integration of acquired assets. Consolidated Profit after Tax rose 36% to a landmark Rs. 8,305 crores (before exceptional items).  For the first time in the Company’s history consolidated PAT crossed the Rs. 8,000 crores threshold. The Company’s Total Capital Employed now stands at over Rs. 1,07,000 crores, with Net Debt-to-EBITDA improving to a healthy 0.94x as at 31st March, 2026.               
 

OPERATIONS

UltraTech’s operational machinery delivered outstanding results in Q4 FY26. Grey cement sales volumes for India reached 42.41 million tonnes in the quarter, rising 9.3% year-on-year, as capacity utilisation 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.

On the cost front, the Company demonstrated exemplary discipline. Energy costs declined 3% year-on-year, powered by a meaningfully higher green power mix - which now stands at a commendable 43% of total power consumption versus 34.4% in the prior year - alongside an expanded Alternative Fuel and Raw material (AFR) mix and improved conversion ratios. Imported fuel costs averaged USD 122 per tonne in Q4 FY26, remaining broadly stable year-on-year, while total costs per tonne declined 2% year-on-year, reflecting the ongoing harvest of cost optimisation initiatives embedded across the production ecosystem. Notwithstanding the geopolitical conflict in West Asia, which exerted upward pressure on fuel prices, packaging materials, diesel, and ocean freight, the Company’s resilient procurement strategy and diversified sourcing helped substantially mitigate the impact.

White Cement and Value-Added Products also shone brightly. White cement volumes grew 15.3% year-on-year in Q4 FY26.               
 

SPECIAL DIVIDEND

The Board of Directors, at their meeting held today, has been pleased to recommend a Special Dividend of Rs 240 per share on the face value of Rs. 10/- each per equity share for the financial year 2025–26 — a deliberate and meaningful departure from the ordinary course of dividend declaration. This Special Dividend is anchored in a confluence of several milestones that FY26 has delivered: consolidated PAT crossing the Rs. 8,000 crores threshold for the first time in the Company’s history; domestic grey cement capacity surpassing the landmark 200 MTPA frontier; and operating cash flows growing a remarkable 50% year-on-year to Rs. 14,398 crores — the strongest in the Company’s history. These are not incremental achievements. They represent the full fruition of a decade of disciplined capital allocation, bold capacity-building, and the seamless integration of transformative acquisitions. The Special Dividend is the Board’s unambiguous signal to the capital markets and to the shareholders who have trusted UltraTech through years of heavy investment: FY26 is the year that patience has been vindicated, and the reward must be commensurate with the moment. Operating cash flow for FY26 comfortably supports both ongoing capital expenditure programmes and this distribution, with no compromise to the Company’s financial stability or its forward growth commitments. Dividend, if approved by the shareholders, will be taxed in the hands of shareholders at applicable rates, with the Company withholding tax at source as appropriate.               
 

CAPACITY EXPANSION — A MILESTONE DECADE

FY26 heralded a new high moment in UltraTech’s capacity journey. During the year, 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:

• A 2.7 MTPA cement grinding unit at Shahjahanpur, Uttar Pradesh;    
• A 3.0 MTPA cement grinding unit at Visakhapatnam, Andhra Pradesh; and    
• A 3.0 MTPA cement grinding unit at Patratu, Jharkhand.               
   

As a result, 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, firmly entrenching the Company’s position as the largest cement producer outside of China. The Company invested Rs. 9,600 crores in capital expenditure during FY26.

UltraTech’s next phase of transformation is already gathering momentum. 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 — a vision that mirrors India’s own ambitions as it emerges as one of the world’s leading economies. As India grows, UltraTech is uniquely positioned to be the nation’s partner of choice in building its future.

The Cables and Wires business continues to advance on schedule. Critical orders have been placed, civil works are progressing at the project site, and the core management team is fully operational. The Company remains confident of commissioning this new venture by Q3 FY27, heralding the dawn of a new and diversified chapter in UltraTech’s illustrious story.               
 

SUSTAINABILITY

UltraTech’s sustainability journey progressed with vigour in FY26. During the full year, the Company commissioned a formidable 371 MW of renewable power and 63 MW of Waste Heat Recovery Systems (WHRS). UltraTech’s total installed green power capacity now stands at an impressive 1,806 MW — comprising 1,392 MW of renewable power and 414 MW of WHRS — with approximately 41% of the Company’s total power requirements now sourced from green energy for FY26. This is a structural competitive advantage that continues to reduce energy costs and insulate the Company from fossil fuel price volatility. UltraTech is a signatory to the GCCA Climate Ambition 2050 and has committed to the Net Zero Concrete roadmap, a testament to its conviction that scale and sustainability are in fact, twin engines of enduring value creation.