Slide 1: Stock exchange cover letter for investor presentation
May 4, 2026 To National Stock Exchange of India BSE Limited Luxembourg Stock Exchange Limited Scrip Code: AMBUJACEM Scrip Code: 500425 Code: US02336R2004 Sub.: Investor Presentation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 Dear Sir / Madam, In co
Slide 2: Ambuja Cements Investor Presentation Q4 & FY'26
ONE CEMENT PLATFORM Ambuja Cements Investor Presentation | Q4 & FY’26 1
Slide 3: Consolidated Highlights: FY'26 Cement Sales Volume
Consolidated Highlights: FY’26 Cement Sales Volume (MnT) Ambuja Cements recorded 16% volume growth in FY’26; ahead of the Industry Quarterly Yearly +10% +16% 80.0 19.9 73.7 18.2 18.4 18.9 16.6 63.5 Q4FY’25 Q1FY’26 Q2FY’26 Q3FY’26 Q4FY’26 FY’25 FY’26 FY’27E 2
Slide 4: Consolidated Highlights: Operating EBITDA (Rs PMT)
Consolidated Highlights: FY’26 Operating EBITDA (Rs PMT) Ambuja delivered annual EBITDA PMT of Rs 887 despite quarterly volatility Quarterly Yearly +12% 1,028 1,069 1,060 887 789 718 735 Q4FY’25 Q1FY’26 Q2FY’26 Q3FY’26 Q4FY’26 FY’25 * FY’26 * Excluding one-time income, Excise Duty refund (Gagal and
Slide 5: Impact of West Asia War
Impact of West Asia War The quarter was impacted by fuel cost inflation, packaging supply constraints, and labor migration due to state elections. The headwinds of higher energy prices, higher inflation and weaker monsoon expected in H1FY’27 Imported Petcoke CFR (USD/t) Mitigation Measures: 175 35%
Slide 6: Builders of Progress in India
Builders of Progress in India Development Operations Value Creation Capacity Expansion Market Leadership Stakeholders • Cement Capacity as on 31st March stands at 109 • With a comprehensive focus on value and market • Net worth at Rs. 71,846 Cr, continue to remain debt MTPA share, premium cement sus
Slide 7: Status Update on Consolidation
Status Update on Consolidation Amalgamation of ACC and Orient with Ambuja Cements, creating a unified ‘One Cement Platform’ • The Board approved the amalgamation on 22nd Dec’25 • ACC and Ambuja filed their respective merger scheme with the Stock Exchanges ACC • The Companies are currently awaiting N
Slide 8: Capital Market Plant Visit – Sanghipuram
Capital Market Plant Visit – Sanghipuram (6th March 2026) ➢ Hosted a Capital Market Plant Visit at Sanghipuram plant (acquired asset) for institutional investors and research analysts ➢ Showcased manufacturing capabilities, state-of-the-art research and development initiatives strengthening investor
Slide 9: Contents
Contents Adani Group Performance Annexures Profile Highlights 1 2 3 4 5 Ambuja Cements ESG Updates Overview 8
Slide 10: Adani Group Profile
01 Adani Group Profile 9
Slide 11: Adani Portfolio: A world class infrastructure and utility portfolio
Adani Portfolio: A world class infrastructure and utility portfolio Flagship Infrastructure & Utility Core Portfolio Primary Industry Other Incubator Materials, Metal Energy & Utility Transport & Logistics Specialty & Mining (74.67%) (62.43%) (74.96%) (68.02%) (67.64%)2 AEL AGEL APL APSEZ Ports & Lo
Slide 12: Adani Portfolio: Best-in class growth with national footprint
Adani Portfolio: Best-in class growth with national footprint Predictable, high and rising free cash flow National footprint with deep coverage Tax paid EBITDA Finance cost paid 92,943 CAT (FFO) 65,016 (70%) EBITDA 24,870 12,784 AEL (51%) 22,819 APSEZ (25%) Adani’s Core Infra. AGEL 10,418 Platform –
Slide 13: Adani Portfolio: Repeatable, robust & proven transformative model
Adani Portfolio: Repeatable, robust & proven transformative model of investment DEVELOPMENT1 OPERATIONS CONSUMERS 2 New C.E.O. Adani Infra (India) Limited | Cemindia Projects Ltd. | PSP Projects Ltd. Operations (AIMSL) Consumer I Employees I Other Stakeholders Origination Site Development Constructi
Slide 14: Ambuja Cements - Overview
02 Ambuja Cements - Overview 13
Slide 15: Adani Cement in Global Context
Adani Cement in Global Context 01 02 03 04 Adani Cement in Global Ambuja Cements Ambuja Cements is the Ambuja Cements is Ambuja Cements is the Context world’s ninth-largest pioneering the world’s selected for first Indo- first Indian cement cement company and first commercial Swedish Carbon company
Slide 16: PAN India Presence
PAN India Presence Presence in 31 states & union territories and 665+ districts For the Quarter Ended March 31, 2026 Gagal Darla / Suli 109 MTPA 65.5% Ropar Nalagarh Asian Nalagarh Cement Capacity Clinker factor Rajpura Bhatinda Roorkee Dadri Kymore Rabriyawas Ametha 24 22 Marwar Integrated Units Gr
Slide 17: Adani Group Synergies
Adani Group Synergies Adani Portfolio Ecosystem EPC & PMC O&M Human Resource ✓ Synergy benefits between AIMSL GCC AIIL Centre of Centre of Centre of entities providing Excellence Excellence Excellence assurance on Supply chain and off take Energy & Utilities Mining ✓ Further bringing in linkage thro
Slide 18: Brands' Architecture
Brands’ Architecture Iconic brands with cumulative 120+ years history that shaped the industry Strength Heritage Pioneered brand building & technical services India‘s 1st Cement Company, Inter-generational Market leaders with Virat Compressive Strength legacy pioneered product development High Highe
Slide 19: Digitally Enabled Operations Delivering High System Availability
Digitally Enabled Operations Delivering High System Availability • CiNOC (Cement Intelligent Network Operations Centre) launched to infuse in operations & businesses an AI layer deep into our enterprise fabric, which will facilitate paradigm shift in operations • Digital sales platform provides a co
Slide 20: Performance Highlights
• Standalone Financials: Previous periods have been restated 03 Performance Highlights on account of merger of Sanghi & Penna with Ambuja • Mar’25 quarter: Only Sanghi and Penna consolidated in results as Orient acquisition was completed in Apr’25 • Mar’26 quarter: Sanghi and Penna merged with Ambuj
Slide 21: Industry Outlook: West Asia Conflict may impact the Indian Economy
Industry Outlook West Asia Conflict may impact the Indian Economy Macro Economic Factors Segment wise Cement Demand Macro • Indian economy remained resilient in FY’26; GDP is expected to grow by 7.6% (RBI) Economics • However, the economy may face headwinds in FY’27 as the escalating West Asia confl
Slide 22: Industry Outlook: Long Term Demand Outlook
Industry Outlook Long Term Demand Outlook and Rising Investment to Drive Economy and Industry 1 Cement Consumption per capita has 2 India per capita consumption has the 3 Urban rise, income surge, government 4 Government Policy Support & strong correlation with GDP per capita growth potential from 2
Slide 23: Performance Highlights: Ambuja Consolidated
Performance Highlights Ambuja Consolidated Quarter Ended Year Ended Particulars UoM YoY QoQ YoY Mar’26 Mar’25 Dec’25 FY’26 FY’25 Change Change Change Volume MnT 19.9 18.2 10% 18.9 6% 73.7 63.5 16% Revenue from Operations ₹ Cr 10,915 9,981 9% 10,277 6% 40,656 35,3361 15% EBITDA ₹ Cr 1,464 1,868 (22%)
Slide 24: Ambuja Consolidated – PAT Reconciliation
Performance Highlights Ambuja Consolidated – PAT Reconciliation Quarter Ended Year Ended Particulars (Rs Cr) Mar’26 Mar’25 Dec’25 FY’26 FY’25 Profit after Tax (Reported) 1,857 1,351 403 5,637 5,294 Excise duty refund (826) Government Grant (accrual)/provided for 223 (138) Interest on income tax (429
Slide 25: Performance Highlights: Ambuja Standalone
Performance Highlights Ambuja Standalone Quarter Ended Year Ended Particulars UoM YoY QoQ YoY Mar’26 Mar’25 Dec’25 FY’26 FY’25 Change Change Change Volume MnT 13.2 12.0 10% 12.9 3% 48.8 39.8 23% Revenue from Operations ₹ Cr 6,974 6,619 5% 6,351 10% 25,062 21,2631 18% EBITDA ₹ Cr 649 1,065 (39%) 531
Slide 26: Ambuja Standalone – PAT Reconciliation
Performance Highlights Ambuja Standalone – PAT Reconciliation Quarter Ended Year Ended Particulars (Rs Cr) Mar’26 Mar’25 Dec’25 FY’26 FY’25 Profit after Tax (Reported) 1,644 555 (41) 3,558 2,835 Excise duty refund (190) Government Grant (accrual)/provided for 223 (138) Interest on income tax (301) (
Slide 27: Cement Business Q4FY'26: Volume, NSP, EBITDA
Performance Highlights Ambuja Cement (Consolidated) Cement Business Q4FY’26 (% Change YoY) SALES VOLUME – Cement NSP EBITDA EBITDA (MnT) (₹/bag Cement) (₹ Cr & Margin) (Incl. RMX) (₹ /ton) (Incl. RMX) 10% 0% 22% 29% 19.9 1,868 18.9 1,028 18.2 255 253 254 1,464 1,353 718 735 19% 13% 13% Mar-25 Dec-25
Slide 28: Cement Business Q4FY'26: Cost per ton
Performance Highlights Ambuja Cement (Consolidated) Cement Business Q4FY’26 (% Change YoY) RAW MATERIAL POWER AND FUEL FREIGHT & FORWARDING OTHER EXPENSES (₹/ton) (₹/ton) (₹/ton) (₹ /ton) 9% 4% 3% 25% 763 1,382 1,310 862 875 715 1,272 699 1,314 649 1,236 1,263 Mar-25 Dec-25 Mar-26 Mar-25 Dec-25 Mar-
Slide 29: Clinker and Cement (CLC) Sales Volumes
Performance Highlights Clinker and Cement (CLC) Sales Volumes MnT Capacity Companies Mar'25 Q Dec'25 Q Mar'26 Q vs QoQ vs YoY Utilisation Listed companies Mar’26 Q Ambuja Standalone 11.1 12.0 12.1 1% 9% 87% ACC 11.1 11.3 11.9 5% 8% 80% Orient 0.0 1.7 1.6 (5%) 0% 76% Sanghi 0.6 0.7 0.8 25% 33% 57% Ot
Slide 30: Cash & Cash Equivalent
Cash & Cash Equivalent Cash & Cash Equivalent Cash & Cash Equivalent Synopsis of the movements in Cash & Cash Equivalent Orient acquisition ~ Rs 5,910 Cr Particulars ₹ Cr 10,125 Opening balance as on 1st Apr 2025 10,125 (+) Cash flow from operating activities 5,362 (+) Cash flow from Investing activ
Slide 31: ESG Overview
04 ESG Overview 30
Slide 32: ESG updates: ESG credentials and credit ratings
ESG updates Impressive ESG credentials and resilient credit ratings Rating Agencies Ambuja ACC DJSI (CSA) 69* 72* CDP – Climate Change B A CDP – Water Security A A CDP – Supplier A A Engagement Assessment 21.1 21.9 Sustainalytics (9/124 Global Rank) (12/124 Global Rank) MSCI BBB – CRISIL 56 57 NSE 6
Slide 33: ESG Dashboard
ESG updates ESG Dashboard Material topic Ambuja FY’26 ACC FY’26 UN SDGs Climate & Energy (Gross specific CO2 595 509 emissions - Kg/T) Climate & Energy (Green Power) 31%# 30% Circular Economy (Use of waste derived 9.78 11.57 resources in MnT) Water & Nature (Water Positive) 12.1x 1.70x Water & Natur
Slide 34: Corporate Social Responsibility - People and Community
ESG updates Corporate Social Responsibility - People and Community Women Water Resource empowerment SHG Management- Particulars FY’26 Till FY’26 formation, Drip Rain Water Irrigation enterprise CSR Outreach Sustainable Harvesting, Tree 1.2 6.8 development, Climate Action Plantation (Mn) Livestock an
Slide 35: Board & Committee Structure
ESG updates Board & Committee Structure 100% Chaired by IDs IDs Board of Directors Statutory Committees > 50% Independent Directors - Audit 🗹 Comprised of only Independent - Nomination & Remunerations 🗹 Directors - Stakeholder Relationship 🗹 100% of - Corporate Social Responsibility 🗹 Statutory…
Slide 36: Annexures
05 Annexures 35
Slide 37: Glimpse of Special Events by Adani Cement
Glimpse of Special Events by Adani Cement Adani Cement Dhanvarsha CREDAI YouthCon FutureX IIT Roorkee Navotsav 2026 BAI Convention ITPI Adani Cement NAREDCO Conclave Goa MoU Delhi Strengthened partnerships with leading industry bodies including CREDAI, NAREDCO, BAI, Indian Concrete Institute, CTBUH,
Slide 38: Accolades & Awards FY'26
Accolades & Awards FY’26 01 02 03 04 Adani Cement plants honoured Adani Cement plants bag 10 India's Most Trusted Cement Recognised with the ‘Best CX at the 19th Indian Chamber of awards including ‘National Brand 2025’ by TRA Research in and Influencer Mastery’ award Commerce (ICC) Environment Energ
Slide 39: Historical Financial Performance: Consolidated Profit & Loss
Historical Financial Performance | Consolidated Profit & Loss (Published) Particulars Unit FY24 FY25 FY26 FY’26 Insights Revenue from Operations ₹ Cr 33,160 35,336 40,656 Other Income ₹ Cr 1,166 2,654 834 Total Income ₹ Cr 34,326 37,991 41,490 73.7 MnT Raw Material Cost ₹ Cr 5,526 6,527 6,743 Volume
Slide 40: Historical Financial Performance: Consolidated Balance Sheet
Historical Financial Performance | Consolidated Balance Sheet (Published) As on As on As on Particulars Unit 31-Mar-24 31-Mar-25 31-Mar-26 Assets Non-Current Assets Property, Plant and Equipments ₹ Cr 19,987 25,049 33,801 Right of Use Assets ₹ Cr 758 1,465 1,483 Capital Work-in-Progress ₹ Cr 2,658 9
Slide 41: Abbreviations
Abbreviations AEL Adani Enterprises Limited NQXT North Queensland Export Terminal ENOC Energy Network Operation Centre ATGL Adani Total Gas Ltd MnT. Million Tonne FI Financial Institution APSEZ Adani Ports and Special Economic Zone Limited CLC Clinker and Cement RMX Ready- Mix Concrete AESL Adani En
Slide 42: Disclaimer
Disclaimer Certain statements made in this presentation may not be based on historical information or facts and may be “forward-looking statements,” including those relating to general business plans and strategy of Ambuja Cements Limited (“Ambuja”), the future outlook and growth prospects, and futu