Quarter Ended: March 2026
UltraTech Cement Ltd – Q4 FY26 Results Analysis
NSE
ultracemco
BSE
532538
Revenue growth remains robust driven by scale and demand, but rising costs (power, freight, and raw materials) are limiting margin expansion despite healthy profit growth
key financial highlights
- Revenue from Operations:
- Total Income (Q4 FY26): ₹25,799.47 Cr
- QoQ Change: +18.19%
- YoY Change: +11.86%
- Previous Quarter (Q3 FY26): ₹21,829.68 Cr
- Previous Year (Q4 FY25): ₹23,063.32 Cr
- Total Income (Q4 FY26): ₹25,799.47 Cr
- Profit After Tax (PAT):
- PAT (Q4 FY26): ₹3,000.02 Cr
- QoQ Change: +73.60%
- YoY Change: +21.05%
- Previous Quarter (Q3 FY26): ₹1,729.44 Cr
- Previous Year (Q4 FY25): ₹2,477.79 Cr
- PAT (Q4 FY26): ₹3,000.02 Cr
- QoQ Performance
- Revenue Trend: Strong growth
- Profit Trend: Sharp recovery
Margin Analysis
Key Drivers:
- Increase in power & fuel costs
- Higher freight and forwarding expenses
- Operating leverage from higher volumes
Key Signal: Margins under pressure despite revenue growth, indicating cost inflation impact
Earning quality check
Drivers:
- Strong core operational performance
- Limited exceptional impact in current quarter
- Stable tax structure
Interpretation:
- Earnings are largely operationally driven, indicating healthy business fundamentals
balance sheet Analysis
- Total Assets: ₹1,41,376.05 Cr
- Total Liabilities: ₹60,663.61 Cr (Derived)
Insight:
- Strong asset base with significant capital deployment; leverage remains manageable relative to scale
key risks
- Rising fuel and logistics costs
- Cyclical demand in infrastructure and real estate
- High capex impacting free cash flows
management strategy signals
- Focus Areas:
- Capacity expansion
- Cost optimization (energy efficiency, logistics)
- Market share expansion
Financial Metrics
| Particular | Q4 FY26 | Q.O.Q | Y.O.Y |
|---|---|---|---|
| Total Income | ₹25,799.47 Crore | +18.19% | +11.86% |
| PBT | ₹3,980.54 Crore | +74.33% | +28.36% |
| PAT | ₹3,000.02 Crore | +73.60% | +21.05% |
UltraTech Cement delivered a strong operational quarter, driven by volume growth and improved profitability. However, margin pressure from rising input and logistics costs remains a concern. Long-term outlook remains positive due to scale and market leadership, but near-term profitability depends on cost control.
Official Exchange Filing: Ultratech Cement Ltd
Quarterly Performance Context
COST OF OPERATIONS AS % OF REVENUE
85%
NET PROFIT AS % OF REVENUE
11.63%
FISCAL YEAR
2025-2026
AUDIT STATUS
REVIEWED