Ultratech Cement Limited · NSE:ULTRACEMCO
Ultratech Cement — Q4 FY26 Earnings Presentation
48 slides from Ultratech Cement's earnings presentation, Apr 27, 2026
Slide 1: Cover letter to stock exchanges
27th April, 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 and year ended 31st March, 2026 Dear Sirs, Attached is an investor presentation on the p
Slide 2: UltraTech Cement Limited Q4FY26 Results
ADITYA BIRLA UltraTech Cement Limited Q4FY26 Results
Slide 3: Macro overview, Business highlights, Financial performance, ESG updates
— V ne UltraTech ee | eects UltraTech ae UltraTech -* Macro Business Financial ESG overview highlights performance updates
Slide 4: Macro Overview
Macro | Overview oy Uttrateoch }
Slide 5: Macro overview
Macro overview “STS Macro Indicators ADITYA BIRLA “Wtratoch - RBI estimates India’s FY26 GDP growth at - RBI maintained repo rate at 5.25% and ~7.6%, reflecting economic resilience retained neutral policy stance - Evolving Geopolitical environment - Low and stable interest rates will help support do
Slide 6: Key drivers across regions
Key drivers across regions bid North Ci cRHRR) Housing and rural markets registered growth across all regions. Infrastructure demand was subdued due to GRAP IV restrictions in Delhi NCR and adverse weather conditions in Jammu & Kashmir, Himachal Pradesh and Uttarakhand.. Commercial sector demand rem
Slide 7: West Asia conflict update
— ADITYA BIRLA West Asia conflict update bine Implication on Cement Industry Imported coal Cement bag Higher & petcoke availability and diesel cost oo: “Pp y Other indirect price volatility cost pressure . impacts $10 cost increase leads to 10% cost increase leads to 10% cost increase leads to negat
Slide 8: Business highlights
BusIness highlights
Slide 9: Q4FY26 Key highlights
Be susiness highlights a Q4FY26 Key highlights Rs. 25,467 Cr | Rs. 1,253 Consolidated Revenue Operating EBITDA/t 11.8% YoY Rs. 127/t YoY 42.41 MTPA Domestic Grey Cement Volume iv) Robust growth in Volume, Revenues, and Profitability
Slide 10: Capacity and operational highlights
mS 2.7 MTPA Grey Cement capacity commissioned Total: 196.8 mtpa” WHRS capacity @ 18% YoY *ultraTech's global grey cement capacity as on 31st March 2026 5 568 UBS outlets 1.39 GW Renewable Power capacity es a ey 367 km Lead distance 43% Green Power mix @ 25% YoY ADITYA BIRLA
Slide 11: Consolidated sales volume
Business highlights Consolidated Sales volume Q4FY26 FY26 Particulars Volume (MnT) Growth (YoY) Volume (MnT) Growth (YoyY)* UltraTech Grey Cement (Domestic) 42.01 15.2% 140.00 11.9% India Cements 3.12 18.0% 10.33 15.2% Inter-Company elimination (2.73) - (5.33) - Grey Cement (Domestic) 42.41 9.3% 145
Slide 12: Q4FY26 Sales performance
Business highlights Q4FY26 Sales performance Trade Bag Direct Road 65.8% 80.2% 61.1%
Slide 13: Q4FY26 Ready Mix Concrete
QUFY26 Ready Mix Concrete in 465 167 ’ Plants Cities “eS wae eo 70 plants YoY 12 cities YoY 008° aoe e ¢, , UltraTech's *: ect RMC footprint 4.78Mnm? Rs.2,262Cr “eet ee Volume Revenue tees % gd PP Dar 1.34 MnT 33% oe Cement consumed RoCE OOF? Se Yee 21% YoY S Ag RMC consumed D 3% of cement volume
Slide 14: Progress on Sustainable Cost Improvement Initiatives
Business highlights Progress on Sustainable Cost Improvement Initiatives Efficiency gains (Rs./t)* Particulars UOM FY24 FY25 FY26 FY25 FY26 WHRS Capacity MW 278 342 414 19 13 Renewable Power MW 612 1,021 1,392 12 12 Clinker Conversion times 1.44 1.46 1.48 9 2 Alternative Fuel Mix % 5.1% 6.1% 7.2% 4
Slide 15: UltraTech marching ahead
Ultratech marching ahead m4 Grey Cement Capacity (MTPA) Grey Cement Capacity (MTPA) o GY ee - _ | West 34.5 - 34.5 6.0 40.5 aa eee - 7 _ Overseas 5.4 5.4 5.4 ry28 Overall 196.8 212.7 242.5
Slide 16: Capacity expansion roadmap
Business highlights ‘ ' : d ITYA Bi apacity expansion roadmap Plan for FY27 coment Plan for FY28 come Greenfield Greenfield Visakhapatnam, Andhra Pradesh 3.0 Sehore, Madhya Pradesh 3.0 Shahjahanpur, Uttar Pradesh 27 Lalitpur, Uttar Pradesh 18 Petnikota, Andhra Pradesh 3.6 Banka, Bihar 33 Brownfield
Slide 17: Powering India's Infrastructure Projects
Powering India's Infrastructure Projects INTERNATIONAL ‘AIRPORT |)AR anaivais UltraTech Cementis'alkey cement supplier forithe project UltraTech Cement is a key cement supplier for the project Creative visualization, not to scale
Slide 18: New Product Launch - Construction Chemicals
Business highlights New Product Launch - Construction Chemicals Weather Pro Top-Shield EZY — 2X Protection for Roof Against Dampness! Waterproofing System
Slide 19: Wires and Cables | Progress update
Wires and Cables | Progress update Facility set-up completed, machine installation near completion Key Regulatory approvals in place ERP and CRM testing underway; Leadership team onboarded Channel partners, B2B customer and influencer onboarding underway Rs. 1,800. XX ~Rs. 764. bé .
Slide 20: Financial performance
Slide 21: Consolidated Revenues
Consolidated Revenues bé 4 Q4FY26 FY26 Particulars Rs. Cr Growth (YoY) Rs. Cr Growth (YoY) UltraTech Grey Cement (Domestic) 21,148 15.3% 70,666 13.6% India Cements 1,211 0.9% 4,454 - White Cement (Domestic) 800 14.9% 2,665 8.8% Ready Mix Concrete 2,262 24.4% 7,747 25.6% Construction Chemicals 418 44
Slide 22: Operating EBITDA/t
a Operating EBITDA/t bé . . Volume Operating EBITDA Particulars (Mnt) (Rs./t) UltraTech 41.58 1,296 India Cements 3.12 670° Incl. UltraTech Brand Sales Total 44.71 1,253
Slide 23: Sales Realisation
E B Sales Realisation o a iY fe] b : re zi 3 ‘ tr 3s ry ay log [-} o oe 3 x . s| ¢ : e wn
Slide 24: Profitability
a 5 Q o > g © - cl; = = 2} 6 S co} om ° £ xe x N id > 3 co rs §| 8 a re] e & < Cs) ° x So » Profitability
Slide 25: Grey Cement: Q4FY26 Key cost indicators
Grey Cement: Q4FY26 Key cost indicators bie ten at rer arta Ie | Sa % of total costs 32% 21% 9% 17% Rs./t 1,154 874 325 658 QoQ 2% 0 1% 7% © 1% @ YoY 2h @ 1% 9%O 6%O Domestic operations excluding ICL | Previous period numbers restated for Kesoram
Slide 26: Grey Cement: Logistics cost
4 E cs 5 a Grey Cement: Logistics cost E 23d 2 2s S ge + gs 2 > er re) 2 o 3 gy Be s 2 ge 35 ges 2 ce ae fg uo 3 5 § 8s = = 3 2 22 BE of? bad = rf a5 s 1 o 1 = log © ° = o ov ov 2 + 4 3 o 3 Pa 2 oh 5 5 = ov Ts xe N — Q4FY25
Slide 27: Grey Cement: Fuel cost
Bi 2g oo & 3 o ES Grey Cement: Fuel cost
Slide 28: Grey Cement: Power cost
Grey Cement: Power cost bé . | Uitratech Q4FY25 Q4FY26 Particulars Power mix Rate (Rs./kWh) Power mix Rate (Rs./kWh) Captive thermal power 42.0% 6.48 36.4% 5.99 State grid and others 23.6% 6.97 20.6% 7.62 Renewable energy 13.9% 4.36 20.4% 4.45 Waste heat recovery system 20.5% 0.71 22.6% 0.60 Power c
Slide 29: Grey Cement: Raw material cost
4 E cs 5 a Grey Cement: Raw material cost st no 200° =] wo st 2 2 ie) ie) 808 fo} S > log ) s o vo o “a a 3 3 S wo £ 3s wo 9ZASE 95 (o) 4ZAsdVO. Q3FY26
Slide 30: Other costs
Other costs 3% increase YoY 7% decrease QoQ 673 S45 Q4FY25 Q3FY26 Q4FY26 - YoY: Higher packaging cost - QoQ: Operating leverage benefit partly offset by higher packaging cost Domestic operations excluding ICL | Previous period numbers restated for Kesoram bé | | Utratoch 105 103 102 100 a a 8 8 t &
Slide 31: Financial performance for the quarter (1/2)
Financial performance for the quarter (1/2) ADITYA BIRLA (Rs. Cr) Q4FY25 Q4FY26 Particulars . = Standalone Consolidated Standalone Consolidated Income: Net sales 20,856 22,788 24,267 25,467 Other Operating income 279 275 315 333 Expenses: Raw materials consumed 3,024 3,530 3,549 4,074 Purchase of tr
Slide 32: Financial performance for the quarter (2/2)
Financial performance for the quarter (2/2) mA (Rs. Cr) . Q4FY25 Q4FY26 Particulars . = Standalone Consolidated Standalone Consolidated EBITDA 4,725 4,721 5,026 5,688 Finance costs 400 475 431 487 Depreciation and amortisation 991 1,125 1,054 1,208 Tax expenses 652 626 920 981 Share of profit / (los
Slide 33: Financial performance for the year (1/2)
Financial performance for the year (1/2) ADITYA BIRLA (Rs. Cr) FY25 FY26 Particulars Standalone Consolidated Standalone Consolidated Income: Net sales 70,857 74,936 81,080 87,384 Other Operating income 1,038 1,019 1,090 1,128 Expenses: Raw materials consumed 10,589 11,822 12,332 14,568 Purchase of t
Slide 34: Financial performance for the year (2/2)
Financial performance for the year (2/2) bé . (Rs. Cr) FY25 FY26 Particulars Standalone Consolidated Standalone Consolidated EBITDA 12,990 13,302 15,816 17,598 Finance costs 1,465 1,651 1,630 1,872 Depreciation and amortisation 3,739 4,015 4,055 4,644 Tax expenses 1,504 1,488 2,622 2,739 Share of pr
Slide 35: Financial position
a Financial position bé 4 © Utratech (Rs. Cr) March 2025 March 2026 Particulars Standalone Consolidated Standalone Consolidated Net fixed assets 82,881 1,02,268 88,315 1,08,035 Non-current investments 12,999 1,651 12,541 1,719 Net working capital (2,997) (2,843) (3,202) (2,593) Application of funds
Slide 36: Consolidated cash flow
mera performance Consolidated cash flow (Rs. Cr) Particulars FY26 EBITDA 17,598 Interest and lease payments (2,145) Taxes paid (Net of refunds) (1,301) Increase in working capital (656) Operating cash flow 13,496 Capex & Investments (10,064) Sale of: Asset held for sale & Investments 956 Free cash f
Slide 37: Balancing expansion and sustainability
Balancing expansion and sustainability bd 10,064 ~10,000 9,428 FY24 FY25 FY26 FY27E Mi Growth Ml ESG ~~ Others 36
Slide 38: Key Ratios
Key Ratios
Slide 39: ADITYA BIRLA
ADITYA BIRLA ba \ a} Uttrateoch
Slide 40: Sustainability Progress
Sustainability Progress FY26 Performance Scope 1 Net CO, Emission Alternative Raw Materials and Fuel (kg CO,/t cement) (MnT) 462 5 FY32 Target 4 1 4 1.1% YoY® 25.7% YOY @ Fenvironment} Water Positive Green Power Mix (times) (% of total power) 85% 0 5.1X 41.6% Footer 27.4% YOY@ Unaudited; excluding I
Slide 41: ESG updates
ESG updates Alternative fuel mix WHRS power mix Renewable power mix ESG metrics 7.0% 6.7% 1.48x 3 o o
Slide 42: ESG updates: ESG Ratings
ESG updates ESG Ratings S&P Dow Jones Indices ADivision of SEPGlobal Crisil company ot TEP MSCI &> © NSE 71 S&P Global CSA Score (2025) Climate Action and Water Security (2025) 57 ESG Score (2023) ESG Rating (2025) 61 NSE Sustainability Ratings & Analytics (2024) 41
Slide 43: Strengthening rural communities
~ al Strengthening rural communities Turning Rain into Resilience: Jnaprahwa, Uttar Pradesh @ @-® - Village Jhaprahwa near Dalla Cement Works faced chronic water scarcity, soil erosion, and agricultural stress. To address this, a check dam was constructed. - Despite logistical and terrain challenges
Slide 44: Strengthening rural communities
~ al Strengthening rural communities bid Waste to Wealth: Project by Andhra Pradesh Cement Works @ tans @-® - Tadipatri banana cluster generates ~41,000 MT p.a. of pseudostem waste, earlier burnt or discarded, causing emissions and resource loss. - UltraTech intervened and launched Project Uday whic
Slide 45: Other CSR Initiatives
ESG updat: Other CSR Initiatives 1,60,566 beneficiaries of various healthcare initiatives te oe Dalla Cement Works Ei. iia 2,236 beneficiaries of skill development programs @ Kotputli Cement Works ay Ss A CSR INITIATIVE TRAINING PROGRA* Manikgarh >> Andhra Pradesh Cement Works Cement Works I TYA BIR
Slide 46: Continued recognition for energy leadership
ae ESG updates Continued recognition for energy leadership Gold Award at IGMC 2025 (oe TRIM} Patliputra Cement Works has been honoured at the India VF Green Manufacturing Challenge (IGMC) with Gold Award by the Indian Resources and Industrial Management (IRIM). This recognition validates the Company
Slide 47: 200+ MTPA
Slide 48: Disclaimer
Disclaimer bid 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. I