UltraTech Cement announced a 23% year-on-year increase in revenue for Q3FY26, reaching ₹21,506 crores. Profit before interest, depreciation, and tax stood at ₹4,051 crores. The company recognized ₹88 crores towards additional Gratuity and Leave Encashment obligations as a one-time expense due to the new Labour Code implementation. Capacity utilization reached 77%, surpassing the 72% recorded in the same period last year.
Financial Performance
UltraTech Cement reported strong financial results for Q3FY26. Consolidated Net Sales reached ₹21,506 crores compared to ₹17,555 crores in the corresponding period of the previous year, marking a 23% increase. Profit before interest, depreciation and tax (PBIDT) amounted to ₹4,051 crores, against ₹3,142 crores. Normalised Profit after tax was ₹1,792 crores compared to ₹1,359 crores.
Impact of New Labour Code
The implementation of the new Labour Code, effective from November 21, 2025, led UltraTech to recognize an exceptional expense of ₹88 crores. This was towards additional Gratuity and Leave Encashment obligations. Profit after tax adjusted for this one-time expense was ₹1,725 crores.
Operational Highlights
UltraTech’s capacity utilization stood at 77% for the quarter. Domestic grey cement markets grew by 29.4%, excluding contributions from India Cements and Kesoram for a more accurate comparison. Operating EBITDA per ton improved to ₹1,051 excluding India Cements, rising from ₹911/mt.
Capacity Expansion
The company commissioned 0.6 mtpa of cement capacity at its grinding unit at Dhule Cement Works, Maharashtra and 1.2 mtpa at Nathdwara Cement Works, Rajasthan. Total domestic grey cement capacity now stands at 188.66 mtpa. Including UAE capacity, global capacity reached 194.06 mtpa. An additional 22.8 mtpa of capacity expansion is underway through brownfield and greenfield projects, expected to bring total capacity to 240.76 mtpa.
Sustainability Initiatives
UltraTech is focusing on environmental conservation, adding 14 MW of WHRS capacity during the quarter. The company’s total WHRS capacity is now 383 MW, and green power constitutes 42.1% of the power mix.
Source: BSE
