UltraTech Cement Limited — Investor Meet, 01-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

UltraTech Cement achieved a significant milestone in Q4 FY26, crossing 200 million tons capacity in India, a first outside China. Sales volumes reached 44 million tons, with the UltraTech brand growing 19% YoY. Consolidated EBITDA per ton stood at ₹1,253. Integration of India Cements and Kesoram is 100% complete, boosting efficiency and ICL EBITDA to ₹497/ton. Management anticipates 7-8% sustainable volume growth and plans ₹8,000-₹10,000 Cr in annual capex. A ₹240/share dividend was proposed, reflecting confidence in strong cash flows. Green energy now meets 43% of power needs. Despite West Asia headwinds impacting bag costs (~₹90 Cr in March) and fuel, the company is confident in India's robust demand drivers and future performance. FY27 volume growth target is double-digit.