Cement volumes grow 7–8% in Q1FY27, while input costs pressure margins.

$ULTRACEMCO — relevant due to strong volume performance and cost management. Cement demand remained healthy, supported by construction activity. However, higher fuel, packaging and other input costs limited profitability gains. Investors generally assess volume growth alongside realisations, energy costs, operating margins and demand conditions. Industry volumes grew about 7–8% YoY in Q1FY27. Strong volumes do not automatically translate into higher profitability when costs rise.