Adani Cement reported strong Q3 & 9M FY’26 results, with significant YoY growth in volume, revenue, and EBITDA. The company continues to progress on its amalgamation strategy, including ACC and Orient Cement, aiming to create a unified platform. Adani Cement is targeting an EBITDA of Rs 1,500 PMT by Mar’28 through cost leadership and operational efficiencies.
Financial Highlights
Adani Cement showcased robust financial performance for Q3 FY’26 and 9M FY’26:
- Q3 FY’26:
- Volume increased by 17% YoY.
- Revenue grew by 20% YoY.
- EBITDA surged by 53% YoY.
- 9M FY’26:
- Volume increased by 19% YoY, reaching 53.8 MnT.
- Revenue increased by 22% YoY, reaching Rs 29,740 Cr.
- EBITDA increased by 62% YoY, reaching Rs 5,075 Cr.
Capacity Expansion and Efficiency
Adani Cement has a total cement capacity of 109 MTPA, including the commissioned 2.4 MTPA Marwar Grinding Unit. The company aims to reach 155 MTPA capacity. They are focused on increasing capacity utilization and improving cost efficiency to achieve an EBITDA target of Rs 1,500 PMT by Mar’28.
Amalgamation Updates
The amalgamation of ACC and Orient Cement with Ambuja Cements is underway. Key updates include:
- The Board approved the amalgamation on December 22, 2025.
- The companies are awaiting No-Objection Certificates (NOC) from SEBI.
- Completion is subject to approvals and expected over FY27.
Sanghi Industries is also progressing towards merger with Ambuja, with the NCLT hearing completed on January 29, 2026. Penna Cement Industries’ final hearing is scheduled for February 19, 2026.
Sustainability Initiatives
Adani Cement is committed to sustainability, with initiatives such as increasing renewable energy capacity (target of 1,122 MW by FY27). They are also improving waste heat recovery systems and driving circular economy efforts.
Source: BSE
