ULTRACEMCO

UltraTech Cement Q3FY26 – Solid set 🧱📈 Volumes strong: +15% YoY at 38.87 MT; realizations down modestly (-0.4% YoY, -3.3% QoQ) EBITDA/MT at ₹1,051 (+₹140 YoY, +₹97 QoQ), margin beat from operating leverage & cost control Net debt down ~₹1,700 cr QoQ Capacity expansion: +22.8 MTPA; total capacity to reach 240.76 MTPA Concall upbeat: Industry demand growth seen at 9–10% (Q3), price hikes of ₹6–8/bag 👉 Q4FY26 shaping up very strong on EBITDA