ULTRACEMCO · Construction Materials
UltraTech Cement Ltd. reported revenue of ₹24,648 cr for April to June 2026, +15.9% on the year and −4.5% on the quarter. That is faster than this quarter has grown in recent years (+9.6% on average), so the year-on-year number is not just the season. Over the last four quarters revenue comes to ₹91,884 cr, +17.2% on the four before.
Operating profit (EBITDA) was ₹5,015 cr, a margin of 20.3%, −36 bps on the year and −136 bps on the quarter. Over the last 8 quarters the margin has ranged from 12.4% to 21.7%, averaging 18.1%. Operating costs grew +16.4%, faster than revenue at +15.9%, so operating profit grew less than sales.
Net profit was ₹2,604 cr, +17.2% on the year and −13.2% on the quarter, with earnings per share of ₹88.21. Profit before other income, one-offs and tax grew 17.3%, so the profit growth came from the business itself. The tax rate of 25% is in line with its recent average. Profit over the last four quarters totals ₹8,571 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 ₹289.77 over the last four quarters, the stock at ₹10,922.00 trades at 37.7 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.
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.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹16,012 cr | ₹16,740 cr | ₹20,419 cr | ₹18,819 cr | ₹16,294 cr | ₹17,779 cr | ₹23,063 cr | ₹21,275 cr | ₹19,607 cr | ₹21,830 cr | ₹25,799 cr | ₹24,648 cr |
| YoY | — | — | — | +6% | +2% | +6% | +13% | +13% | +20% | +23% | +12% | +16% |
| EBITDA margin | 15.9% | 19.4% | 20.1% | 16.0% | 12.4% | 16.3% | 20.0% | 20.7% | 15.8% | 17.9% | 21.7% | 20.3% |
| Other income, % of PBT | 10% | 6% | 2% | 4% | 26% | 15% | 3% | 5% | 11% | 2% | 2% | 3% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 24% | 25% | 27% | 20% | 19% | 19% | 20% | 26% | 25% | 24% | 25% | 25% |
| Net profit | ₹1,280 cr | ₹1,775 cr | ₹2,259 cr | ₹1,493 cr | ₹708 cr | ₹1,363 cr | ₹2,475 cr | ₹2,221 cr | ₹1,238 cr | ₹1,729 cr | ₹3,000 cr | ₹2,604 cr |
| YoY | — | — | — | −12% | −45% | −23% | +10% | +49% | +75% | +27% | +21% | +17% |
| Core profit YoY | — | — | — | −15% | −57% | −35% | −1% | +62% | +127% | +55% | +30% | +17% |
| EPS | ₹44.39 | ₹61.55 | ₹78.22 | ₹51.78 | ₹24.34 | ₹47.09 | ₹84.23 | ₹75.54 | ₹41.79 | ₹58.55 | ₹101.22 | ₹88.21 |
| Flags | · | · | · | ✓ | 2 | 2 | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
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.
UltraTech Cement Ltd. reported revenue of ₹24,648 cr (+15.9% on the year) and net profit of ₹2,604 cr (+17.2% on the year) for April to June 2026.
Profit before other income, exceptional items and tax moved +17.3% on the year, against +17.2% for reported profit.
None of the 7 checks that could run raised a question.
No. FinMinutes reports what was filed and the questions the numbers raise. It does not recommend buying, selling or holding any security.
Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.