UltraTech Cement Earnings Summary — Q1 FY2027
UltraTech Cement Reports Robust Revenue Growth Amid Acquisition Integration; Net Profit Surges 17% YoY
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue declined 4.5% sequentially in Q1 FY2027.
- Revenue of ₹24,648 Cr is 15.9% higher year-on-year.
- Revenue has compounded at 8.7% annualised over the last 10 quarters.
- Net profit of ₹2,599 Cr is 16.8% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 6.5% annualised across the period.
- Operating margin stands at 20.4% in Q1 FY2027.
- Operating margin compressed by 36 bps year-on-year.
- Over the last two years operating margin has expanded by 432 bps.
- PBT margin is 14.1%.
- Expenses grew 16.4% against revenue growth of 15.9%.
- Operating profit of ₹5,015 Cr is 13.8% higher year-on-year.
- Operating leverage has been under pressure recently.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 65/100 (Healthy) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 24,648 | 25,799 | 21,830 | 19,607 | 21,275 | 23,063 | 17,779 | 16,294 | 18,819 | 20,419 |
| Expenses | Stable | 19,633 | 20,201 | 17,919 | 16,518 | 16,869 | 18,456 | 14,885 | 14,269 | 15,801 | 16,305 |
| Operating Profit | Accelerating | 5,015 | 5,599 | 3,911 | 3,089 | 4,406 | 4,608 | 2,893 | 2,026 | 3,017 | 4,114 |
| Operating Margin | Stable | 20.4% | 21.7% | 17.9% | 15.8% | 20.7% | 20.0% | 16.3% | 12.4% | 16.0% | 20.1% |
| Other Income | Volatile | 118 | 77 | 46 | 174 | 142 | 93 | 247 | 226 | 83 | 73 |
| Interest | Improving | 453 | 487 | 492 | 459 | 433 | 475 | 457 | 393 | 326 | 261 |
| Depreciation | Improving | 1,201 | 1,208 | 1,182 | 1,148 | 1,107 | 1,125 | 993 | 980 | 918 | 815 |
| Profit Before Tax | Volatile | 3,480 | 3,981 | 2,283 | 1,656 | 3,008 | 3,101 | 1,691 | 879 | 1,857 | 3,111 |
| Tax | Volatile | 877 | 981 | 554 | 418 | 787 | 626 | 328 | 171 | 363 | 852 |
| Net Profit | Volatile | 2,599 | 2,983 | 1,725 | 1,232 | 2,226 | 2,482 | 1,359 | 703 | 1,495 | 2,258 |
| Net Margin | Accelerating | 10.6% | 11.6% | 7.9% | 6.3% | 10.5% | 10.8% | 7.7% | 4.3% | 7.9% | 11.1% |
Key Takeaways
- Revenue grew 15.85% YoY to ₹24,648.20 crores, supported by robust market demand and capacity expansions.
- The acquisition of Birla White WallCare Private Limited was completed on May 29, 2025, contributing to current quarter results.
- Operating margins remained stable at 21% YoY, despite a sequential decline from 22% in Q4 FY2026.
- A major legal dispute regarding Series A RPS for the Dalla Super unit was settled via arbitration, discharging liabilities on April 2, 2026.
- Consolidated Net Debt remains manageable with a Debt-Equity ratio of 0.27x.
- The company continues to challenge CCI penalties totaling over ₹1,870 crores in the Supreme Court, with 10% already deposited.
- The India Cements Limited is now included as a subsidiary, reflecting the company's aggressive inorganic growth strategy.
Management Guidance
Management remains committed to reaching a 200 MTPA capacity by the end of the decade, focusing on volume growth and cost leadership.
Sentiment Shift
Stable
Strong YoY growth in profit and revenue maintains the company's market-leader status, though sequential margins saw slight pressure.
Outlook
The company anticipates continued demand from infrastructure and housing sectors. Future performance will be influenced by the full integration of The India Cements and volatility in fuel/power costs.
From the Annual Report (Key Quotes)
“The Group is exclusively engaged in the single segment of manufacturing, marketing and distribution of building materials.”
“The Company, backed by legal opinions, believes that it has a good case in the [CCI] matters and accordingly no provision has been recognised.”
“All claims, proceeds and liabilities relating to the Series A RPS were fully discharged on 02/04/2026.”
Official Quarterly Documents
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This summary is AI-generated from UltraTech Cement's latest quarterly filing and earnings call. For informational purposes only — not investment advice.