AMBUJACEM · Construction Materials
Ambuja Cements Ltd. reported revenue of ₹10,289 cr for April to June 2025, +22.6% on the year and +3.1% on the quarter. It is the highest quarterly revenue in the last 9 quarters on record. Over the last four quarters revenue comes to ₹37,233 cr, +13.4% on the four before.
Operating profit (EBITDA) was ₹1,961 cr, a margin of 19.1%, +381 bps on the year and +34 bps on the quarter. Over the last 8 quarters the margin has ranged from 14.7% to 21.3%, averaging 18.0%. Operating costs grew +17.1% against revenue growth of +22.6%, so more of each rupee of sales reached operating profit.
Net profit was ₹1,041 cr, +33.0% on the year and −22.9% on the quarter, with earnings per share of ₹3.53. Profit before other income, one-offs and tax grew faster, at +53.1%; other income, one-offs or tax held the headline back. The tax rate of 27% is in line with its recent average. Profit over the last four quarters totals ₹5,551 cr, +26.7% on the four before.
Capital goods and EPC revenue follows project execution, which makes quarters uneven; the order book and new orders tell more about the year than one quarter does. The quarterly statements do not carry the order book, new orders and working capital; those come with the filing read.
On earnings per share of ₹18.40 over the last four quarters, the stock at ₹389.55 trades at 21.2 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Core profit grew faster than reported profit: one-offs held the headline down.
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹8,129 cr | ₹8,894 cr | ₹8,392 cr | ₹7,552 cr | ₹9,411 cr | ₹9,981 cr | ₹10,289 cr | ₹9,174 cr | ₹10,277 cr | ₹10,916 cr | ₹9,500 cr | ₹9,197 cr |
| YoY | — | — | −4% | +2% | +16% | +12% | +23% | +21% | +9% | +9% | −8% | +0% |
| EBITDA margin | 21.3% | 19.1% | 15.3% | 14.7% | 18.2% | 18.7% | 19.1% | 19.2% | 13.2% | 13.4% | 16.7% | 13.8% |
| Other income, % of PBT | 14% | 28% | 33% | 30% | 57% | 38% | 21% | 5% | 17% | 26% | 18% | −7% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 25% | 5% | 28% | 33% | −11% | 28% | 27% | — | 12% | — | 22% | 21% |
| Net profit | ₹1,091 cr | ₹1,521 cr | ₹783 cr | ₹496 cr | ₹2,663 cr | ₹1,351 cr | ₹1,041 cr | ₹2,302 cr | ₹403 cr | ₹1,857 cr | ₹660 cr | ₹236 cr |
| YoY | — | — | −31% | −50% | +144% | −11% | +33% | +364% | −85% | +37% | −37% | −90% |
| Core profit YoY | — | — | −41% | −39% | −17% | +1% | +53% | +52% | −63% | −66% | −38% | −60% |
| EPS | ₹4.15 | ₹4.78 | ₹2.60 | ₹1.95 | ₹8.76 | ₹4.16 | ₹3.53 | ₹7.14 | ₹0.97 | ₹7.40 | ₹2.32 | ₹0.78 |
| Flags | · | 1 | 2 | ✓ | 4 | ✓ | ✓ | 1 | 2 | 2 | ✓ | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Ambuja Cements Ltd. reported revenue of ₹10,289 cr (+22.6% on the year) and net profit of ₹1,041 cr (+33.0% on the year) for April to June 2025.
Profit before other income, exceptional items and tax moved +53.1% on the year, against +33.0% for reported profit.
None of the 7 checks that could run raised a question.
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