Ultratech Cement Limited · NSE:ULTRACEMCO
Ultratech Cement — Q2 FY27 Earnings Presentation
41 slides from Ultratech Cement's earnings presentation, Oct 19, 2026
Slide 1: Exchange filing cover letter for investor presentation
19th October, 2026 BSE Limited The National Stock Exchange of India Limited Corporate Relationship Department Listing Department Scrip Code: 532538 Scrip Code: ULTRACEMCO Sub: Investor Presentation for the quarter ended 30th September, 2026 Dear Sirs, Attached is an investor presentation on the perf
Slide 2: UltraTech Cement Limited Q2FY27 Results
UltraTech Cement Limited Q2FY27 Results A FORCE FOR GOOD
Slide 3: Bigger, Leaner, Greener
Bigger, Leaner, Greener Growth accelerates down the P&L Higher earnings per tonne, built on brand and cost control Q2 FY27 vs Q2 FY26 Q2 FY27 vs Q2 FY26 +21.3% +20.3% Capacity Op. EBITDA/t RoCE Utilisation +12.9% 71% Rs. 974 12.6% +9.3% ▲ +500 bps ▲ +Rs. 60 ▲ +115 bps Green power capacity crosses 2
Slide 4: Agenda
Agenda Macro Business Financial ESG overview highlights performance updates 3
Slide 5: Macro overview
Macro overview bid Uttrateoch
Slide 6: Structural stability amid global volatility
Macro overview Structural stability amid global volatility 7.8% 15.5% 11.9% Real GDP growth in Q1FY27; Centre + State capex growth Real investment (GFCF, public RBI forecasts 7.1% GDP growth YoY, April–August'26; public and private) growth in Q1FY27, for full year investment leading the cycle up fro
Slide 7: Key demand drivers across regions
Macro overview Key demand drivers across regions North I C H R − Infrastructure demand was supported by projects such as the Delhi–Amritsar Expressway, Mumbai–Delhi Expressway. − Commercial, Housing and Rural demand registered growth. − Infrastructure demand grew as project execution picked up ahead
Slide 8: Business highlights
Business highlights Ultratech , Ultratech CCE Me Ne H The Engineer's Choice The Engineer's Choi The Engineer's Choice — WEATHER PLUS SUPER ‘a se i INDIA’s No.1 CEMENT 2 INDIA'S NO.1 CEMENT
Slide 9: Q2FY27 Operational performance
Business highlights Q2FY27 Operational performance 4.6 mtpa 6,289 358 km Grey Cement capacity UBS outlets Lead distance commissioned Total: 210.1 mtpa* 24% YoY 8km YoY 444 MW 1.58 GW 1.48x WHRS capacity Renewable Power capacity Clinker Conversion Ratio 20% YoY 29% YoY *UltraTech’s consolidated grey
Slide 10: Consolidated Sales volume
Business highlights Consolidated Sales volume Q2FY27 Particulars Volume (MnT) Growth (YoY) Grey Cement (Domestic) 35.94 13.8% White Cement (Domestic) 0.52 2.6% Overseas (Grey + White) 1.75 (1.4%) Export and Others 0.13 - Consolidated Sales volume* 38.22 12.9% UltraTech brand grew 20.2% YoY *After el
Slide 11: Q2FY27 Sales performance
Business highlights Q2FY27 Sales performance Trade Bag Direct Road 65.1% 78.8% 60.8% 77.0% Non-Trade Bulk Depot Sea Rail 34.9% 21.2% 39.2% 2.0% 21.0% 10
Slide 12: Q2FY27 Ready Mix Concrete
Business highlights Q2FY27 Ready Mix Concrete 485 179 Plants Cities 77 plants YoY 18 cities YoY 4.65 Mn m 3 Rs. 2,338 Cr Volume Revenue 23% YoY 29% YoY 1.33 MnT 34% Cement consumed RoCE (3.5% of cement volume) 25% YoY We make good concrete better 11
Slide 13: UltraTech marching ahead
Business highlights UltraTech marching ahead Grey Cement Capacity (mtpa) Grey Cement Capacity (mtpa) Zones FY26 FY27 E FY28 E 242.9 213.1 North 37.5 43.6 58.6 188.8 196.8 Central 35.6 35.6 35.6 146.2 East 33.3 36.6 43.2 West 34.5 34.5 40.5 South 50.5 57.4 59.6 All India 191.4 207.7 237.5 Overseas 5.
Slide 14: Capacity expansion roadmap
Business highlights Capacity expansion roadmap Cement Capacity Cement Capacity Plan for FY27 Plan for FY28 (mtpa) (mtpa) Greenfield Greenfield Visakhapatnam, Andhra Pradesh 3.0 Sehore, Madhya Pradesh 3.0 Shahjahanpur, Uttar Pradesh 2.7 Lalitpur, Uttar Pradesh 1.8 Petnikota, Andhra Pradesh 3.6 Banka,
Slide 15: Powering India's Infrastructure Projects
Business highlights Powering India's Infrastructure Projects Alluri Sitarama Raju International Airport, Visakhapatnam UltraTech Cement : A key enabler for India’s infrastructure development Creative visualization just for representation 14
Slide 16: Ultravolt is Live
Business highlights Ultravolt is Live Launched on 3rd September 2026 15,000+ 500+ 80,000+ Current serviceable pin codes Districts and growing Retailers and electricians onboarded Manufacturing and Expansion Marketing and Brand Building − Planned consumption capacity of 78,000 mt of copper and − Stro
Slide 17: Ultravolt's product range
Business highlights Ultravolt’s product range Insulated E-Beam Flexible Cord / Multi-core PVC Insulated Cables Submersible Cable Crosslinked Cables Solar DC / PV Cable Coaxial Cable CCTV Cables LAN Cat 6/6A Performance-focused product portfolio 16
Slide 18: New Product Launch – Birla White
Business highlights New Product Launch – Birla White Features − Protection that blocks salt migration and prevents white patches and peeling. − High water resistance through advanced silicone polymer technology, protecting against seepage & external weather impact. − Superior whiteness for brighter,
Slide 19: Financial performance
Financial performance
Slide 20: Consolidated Revenues
Financial performance Consolidated Revenues Q2FY27 Particulars Rs. Cr Growth (YoY) Grey Cement (Domestic) 18,603 16.0% White Cement (Domestic) 693 12.2% Ready Mix Concrete 2,338 29.1% Construction Chemicals 421 48.4% Overseas (Grey + White) 1,302 27.2% Export and Others 318 - Total* 23,024 18.9% *Af
Slide 21: Sales Realisation
Financial performance Sales Realisation Grey Cement (Domestic) (Rs./t) 2% increase YoY 5,218 5,176 5,076 Q2FY26 Q1FY27 Q2FY27 Last year numbers restated to include ICL, Realisation = Selling Price net of GST less Discounts 20
Slide 22: Profitability
Financial performance Profitability EBITDA (Rs. Cr) PAT (Rs. Cr) 17.2% increase YoY 21.3% increase YoY 5,146 2,604 3,832 3,268 1,501 1,238 Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 21
Slide 23: Grey Cement: Q2FY27 Key cost indicators
Financial performance Grey Cement: Q2FY27 Key cost indicators Logistics Fuel Power Raw material % of total costs 27% 24% 9% 16% Rs./t 1,136 1,030 337 718 YoY 0.1% 14% 12% 6% QoQ 1% 12% 0.4% 3% Domestic operations including ICL (previous year numbers restated to include ICL) 22
Slide 24: Grey Cement: Logistics cost
Financial performance Grey Cement: Logistics cost Logistics cost (Rs./t) − Reduction in lead distance by 8 km YoY and 1% decrease QoQ 2 km QoQ − Busy season surcharge waiver in rail freight 1,151 1,134 1,136 Q2FY26 Q1FY27 Q2FY27 Domestic operations including ICL (previous year numbers restated to in
Slide 25: Grey Cement: Fuel cost
Financial performance Grey Cement: Fuel cost Fuel cost (Rs./t) Fuel rate (Rs./’000 kcal) 2.09 14% increase YoY 1.90 1.80 1.80 1.77 12% increase QoQ 1,030 Q2FY26 Q1FY27 Q2FY27 918 901 50% 45% 45% 42% 39% 39% 38% 25% 37% 36% 7.0% 6.8% 6.7% 6.9% 7.2% Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 Imported C
Slide 26: Grey Cement: Power cost
Financial performance Grey Cement: Power cost Q2FY26 Q2FY27 Particulars Power mix Rate (Rs./kWh) Power mix Rate (Rs./kWh) Captive thermal power 36.8% 6.90 31.4% 6.01 State grid and others 24.1% 6.84 21.5% 7.10 Renewable energy 21.1% 4.61 25.1% 4.78 Waste heat recovery system 18.0% 0.81 22.0% 0.72 Po
Slide 27: Grey Cement: Raw material cost
Financial performance Grey Cement: Raw material cost Raw material cost (Rs./t) Raw material cost index Fly ash Limestone raising Gypsum 6% increase YoY 3% increase QoQ 115 114 718 697 677 104 100 100 104 100 94 89 87 Q2FY26 Q1FY27 Q2FY27 Q2FY25 Q2FY26 Q1FY27 Q2FY27 − Impact of increase in industrial
Slide 28: Packing bag cost
Financial performance Packing bag cost Packing bag cost (Rs./t) Brent Crude price index* 30% increase YoY 149 7% decrease QoQ 140 232 216 117 100 166 92 Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 − Increase in crude prices due to Middle-East conflict Domestic operations including ICL | *Brent crude s
Slide 29: Other costs
Financial performance Other costs Other costs (Rs./t) WPI 6% decrease YoY 110 109 28% increase QoQ 738 692 100 100 543 Q2FY25 Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 − Operating leverage impact QoQ 28
Slide 30: Continued brand recognition
Financial performance Continued brand recognition 18 awards at ET Brand Equity Shark Best Digital & Social Media Brand of the Year at Awards 2026 e4m IDMA 2026 Award-winning marketing, powering India's No. 1 cement brand 29
Slide 31: Financial performance for the quarter (1/2)
Financial performance Financial performance for the quarter (1/2) (Rs. Cr) Q2FY26 Q2FY27 Particulars Standalone Consolidated Standalone Consolidated Income: Net sales 17,632 19,371 21,866 23,024 Other Operating income 232 236 242 272 Expenses: Raw materials consumed 2,780 3,384 3,534 4,208 Purchase
Slide 32: Financial performance for the quarter (2/2)
Financial performance Financial performance for the quarter (2/2) (Rs. Cr) Q2FY26 Q2FY27 Particulars Standalone Consolidated Standalone Consolidated EBITDA 2,843 3,268 3,389 3,832 Finance costs 396 459 494 552 Depreciation and amortisation 1,002 1,148 1,068 1,213 Exceptional items (Loss) - - - (6)*
Slide 33: Financial position
Financial performance Financial position (Rs. Cr) March 2026 September 2026 Particulars Standalone Consolidated Standalone Consolidated Net fixed assets 88,315 1,08,035 90,564 1,10,944 Non-current investments 12,541 1,719 12,567 1,779 Net working capital (3,202) (2,593) (1,905) (1,400) Application o
Slide 34: Consolidated cash flow
Financial performance Consolidated cash flow (Rs. Cr) Particulars H1FY26 H1FY27 EBITDA 7,859 8,978 Interest and lease payments (886) (965) Taxes paid (Net of refunds) (40) (981) Increase in working capital (2,057) (851) Operating cash flow 4,875 6,181 Capex & Investments (4,880) (5,882) Investment i
Slide 35: ESG updates
ESG updates Hirmi Cement Works, Chhattisgarh
Slide 36: Sustainability Progress
ESG updates Sustainability Progress H1FY27 Consolidated Performance* Climate and Energy^ Circular Economy^ Scope 1 Net CO2 Emission Alternative Raw Materials and Fuel (kg CO2/t cement) (MnT) 534 462 FY32 Target 30.0 1.1% YoY 18.3% YoY Environment^ Green Power Water Positive Green Power Mix (times) (
Slide 37: ESG Ratings
ESG updates ESG Ratings 71 59 61 NSE Sustainability S&P Global CSA Score ESG Score Ratings & Analytics (2025) (2025) (2025) 36
Slide 38: Integrated unit running on 100% green power
ESG updates Integrated unit running on 100% green power − Kukurdih Cement Works, Chhattisgarh now meets 100% of its electricity needs from green power. − This decarbonisation milestone was reached with no loss of operational reliability. − About one-third of India units already source more than 50%
Slide 39: Electrifying supply-chain, decarbonising environment
ESG updates Electrifying supply-chain, decarbonising environment − 600+ electric trucks are being added to logistics operations by December 2026 − Once deployed, they are expected to cut net CO₂ emissions by more than 1,17,000 tonnes a year equivalent to displacing about 39 million litres of diesel
Slide 40: Other CSR Initiatives
ESG updates Other CSR Initiatives 55,868 63,696 beneficiaries of various beneficiaries of village healthcare initiatives infrastructure initiatives Bela Cement Works Kukurdih Cement Works 32,318 45,219 beneficiaries of beneficiaries of educational programs social reform initiatives Reddipalayam Ceme
Slide 41: Disclaimer
Disclaimer Statements in this ‘presentation’ describing the Company’s objectives, estimates, expectations or predictions may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Impor