UltraTech Cement Limited — Investor Meet, 27-10-2025: Analysts/Institutional Investor Meet/Con. Call Updates

UltraTech Cement reported robust Q2 FY26 volumes, growing 6.8% with acquired assets, and its brand grew 13.2% YoY. Rural markets showed 13% growth. Q2 EBITDA/ton was impacted by higher maintenance, advertising, and staff costs, totaling ~INR200/ton, with INR100/ton expected to reverse in Q3.

The company is expanding capacity to 20 Cr tons by FY26 end and announced a new 2.28 Cr ton expansion focusing on North/West, aiming for 24-24.5 Cr tons by FY29. Brand conversions for India Cements (31%) and Kesoram (55%) are progressing, boosting synergies. Management is confident about sustained demand from rural housing and infrastructure projects.