UltraTech Cement Limited — Credit Ratings, 19-09-2025: Credit Rating

Moody's Ratings affirmed UltraTech Cement's Baa3 issuer and senior unsecured ratings with a stable outlook. This reflects the company's strong position as India's largest cement producer, robust balance sheet, and a favorable industry outlook. Key factors supporting the decision include significant capacity expansion, expected improvements in EBITDA margins, and sustained strong demand.