The India Cements Limited — Investor Meet, 27-10-2025: Analysts/Institutional Investor Meet/Con. Call Updates

UltraTech Cement's Q2 FY26 Earnings Call highlighted strong volume growth, selling over 31 million tons. The UltraTech brand grew 13.2% year-on-year, with rural markets up 13%. Management expects full FY26 industry growth of 6-7%. Efficiency initiatives and brand conversions for India Cements and Kesoram are progressing, with ICL's EBITDA per ton expected to reach INR1,000 by FY28. Significant expansion plans include 22.8 million tons new capacity, primarily in North & West, targeting 240-245 million tons by FY29. Capex for the next two years is at least INR10,000 crores annually. The company is confident about long-term demand drivers from housing and infrastructure projects.