Consolidated Financial Highlights Q2 FY27:
- Cement sales volume stood at 16.5 MnT during the quarter; trade volumes increased by 8.6 % YoY & trade share increased by 6 pp to 74% YoY and premium products rose by 2 pp to 37% of trade sales.
- Revenue from operations Rs 9,197 Cr, with Operating EBITDA of Rs 1,271 Cr, EBITDA margin of 13.8% and EBITDA per tonne of Rs 770.
Business Updates:
- Commissioned in Q2 (4.6 MTPA): Dahej (1.2 MTPA), Salai Banwa (2.4 MTPA), Kalamboli (1.0 MTPA).
- Stabilised & Ramping Up in H2 (3.2 MTPA): Bathinda (1.2 MTPA) and Jodhpur Penna (2 MTPA); expected commissioning in H2 (2.4 MTPA); Warisaliganj (2.4 MTPA).
One Cement Platform:
- Ambuja shareholders approved the proposed amalgamations of ACC and Orient Cement with Ambuja Cements, advancing the One Cement Platform; the schemes remain subject to requisite approvals and are expected to be completed in FY’27.
Ahmedabad, 29 October 2026: Ambuja Cements Limited, part of the diversified Adani Portfolio, announced its result for the quarter ended 30th September 2026.
Mr. Vinod Bahety, Whole-time Director and CEO, Ambuja Cements Limited, said, “Our Q2 and H1 FY’27 performance underscores Ambuja’s focus on quality growth despite seasonal and external headwinds. Strengthening trade and premium product mix improved revenue quality, while disciplined execution and cost management supported profitability.
We continue to strengthen the structural drivers of earnings through manufacturing excellence, energy efficiency, logistics optimisation and digitalisation, supported by a debt-free balance sheet. Our growth journey continues, with 4.6 MTPA commissioned in Q2 and another 5.6 MTPA ramping up in H2 FY’27.
The implementation of BCFC infrastructure, a higher share of renewable power, the ramp-up of new capacities and their additional incentives are expected to support performance in H2 FY’27.
We are on track achieving our cost target of Rs4,250 per tonne by FY’27. Our growth remains trade-led, in line with our strategy, while we continue to strengthen the institutional business through a comprehensive solutions approach with a focus on value and profitability. Volumes are expected to grow ahead of the industry in H2 FY’27, supported by accelerated trade volumes and calibrated institutional sales. Following the recent Rs10-15 price increase, the industry expects further pricing improvement over the next couple of months.
With the strong support received from shareholders, the proposed merger of ACC & Orient with Ambuja Cements will now proceed to the NCLT for final approvals. The proposed merger is expected to be EPS accretive.”
Industry Outlook:
Looking ahead, near-term conditions remain challenging amid geopolitical conflicts, global uncertainty and higher energy costs, following the monsoon-related headwinds during the quarter. At the same time, structural demand remains supported by infrastructure spending, urbanisation, rural housing and industrial activity.
With our focus on quality growth, premiumisation, operational efficiency, disciplined capital deployment and progress towards the One Cement Platform, we remain well positioned to deliver sustainable, value-led growth.
Business Performance:
Elevated fuel and logistics costs, driven by higher petcoke and coal prices, constrained coal availability, and increased diesel and packaging costs, continue to weigh on industry margins. Ambuja prioritised market discipline, improved product mix and sustainable profitability.
Logistics costs were moderately higher YoY due to higher diesel costs, partly offset by the reduction in primary lead from 265 km to 254 km. Planned shutdowns at major plants have also been successfully completed. Total cost in Q2 stood at Rs 4,410 per tonne, and excluding the impact of geopolitical conflicts, at Rs 4,182 per tonne.
Operational Metrics:
| Particulars (YoY) | Q2 FY’27 | Q1 FY’27 | Q2 FY’26 |
| Kiln Fuel Cost | Rs 1.87/’000 kCal | Rs 1.66/’000 kCal | Rs 1.60/’000 kCal |
| Power Cost (Net) | Rs 4.8 / kWh | Rs 4.3/ kWh | Rs 6.0 / kWh |
| Green Power share | 61% | 48% | 41% |
| Primary Lead | 254 kms | 249 Kms | 265 kms |
| Direct Dispatch (%) | 57% | 58% | 59% |
| Premium Products (% of trade sales) | 37% | 34% | 35% |
Consolidated Financial Performance:
| Particulars | UoM | Consolidated | ||||
| Q2 FY’27 | Q1 FY’27 | Q2 FY’26 | H1 FY’27 | H1 FY’26 | ||
| Sales Volume (Cement) | Mn T | 16.5 | 17.1 | 16.6 | 33.6 | 35.0 |
| Revenue from Operations | Rs. Cr | 9,197 | 9,500 | 9,175 | 18,697 | 19,464 |
| Operating EBITDA & Margin | Rs. Cr | 1,271 | 1,589 | 1,762 | 2,860 | 3,722 |
| % | 13.8% | 16.7% | 19.2% | 15.3% | 19.1% | |
| Rs. PMT | 770 | 931 | 1,061 | 852 | 1,064 | |
| Profit After Tax2 | Rs. Cr | 236 | 660 | 2,3361 | 896 | 3,3771 |
| EPS – Diluted | Rs. | 0.78 | 2.32 | 7.18 | 3.08 | 10.72 |
Notes: 1. Includes income tax provision reversal of Rs 1,697 Cr, 2. Normalized to reported bridge for Profit after tax provided in investor deck.
Balance Sheet Strength:
- Debt‑free balance sheet with a net worth of Rs 72,238 Cr and cash & cash equivalents of Rs 1,070 Cr.
- Highest AAA / A1+ credit ratings from CRISIL, CARE, IndiaRatings & ICRA.
Update on One Cement Platform:
- Ambuja shareholders approved the proposed amalgamations of ACC Limited and Orient Cement Limited with Ambuja Cements Limited at the respective NCLT-convened meetings on 29th and 28th September 2026, advancing the One Cement Platform.
- The amalgamations are expected to simplify the corporate structure, unlock operating synergies and support long-term stakeholder value. The proposed merger is expected to be EPS accretive. Subject to requisite regulatory, statutory and NCLT approvals, completion is expected in FY’27.
