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Ambuja Cements Ltd

Q3 FY26Cement & Cement Products

Ambuja Cements Q3 FY26 earnings call: Revenue & Margins

Q3 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹414
Market cap₹1.0L Cr
P/E22.0
Updated23 Aug 2026
Read5 min read

The short version

Industry demand for cement projected to grow around 8% in FY '26, aligning with 1.1x GDP growth of 7.5%. Target volumes: 115 million tons in FY '26, 135 million tons in FY '27, and 155 million tons in FY '28 (including organic and inorganic growth), with +/- 5-10% capacity utilization variability.

From Ambuja Cements Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • Industry demand for cement projected to grow around 8% in FY '26, aligning with 1.1x GDP growth of 7.5%.
  • Ambuja Cements expects to close FY '26 with robust revenue and volume growth supported by strong demand from December sustained into January and expected in February.
  • Volume growth guidance includes reaching 135 million tons by FY '27 and 155 million tons by FY '28 through organic and inorganic expansions.
  • Focus on ramping up new capacities with quick ramp-up in grinding units and phased ramp-up in clinker plants.
  • Emphasis on premiumization and blended cement to drive value-added product growth, increasing weighted average realizations.

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Profitability & Margins

See what Ambuja Cements Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Capex guidance is around INR 8,000 crores annually for growth and an additional INR 2,000 crores for efficiency improvements, totaling approximately INR 10,000 crores per year.
  • Focus is on capacity utilization of existing assets alongside new capacity expansions.
  • Expansion plans include adding 24 million tons through organic and inorganic growth by FY '28, aiming to reach 155 million tons capacity.
  • New clinker lines are being set up at Bhatapara (line 3 commissioned and ramping up), Marwar-Mundra (brownfield), Assam (greenfield 4 million tons line signed with government), Penna (commissions expected mid-February 2026).
  • Emphasis on debottlenecking assets, with costs below $50 per ton for incremental capacity.
  • New plants and assets expected to enhance efficiency and reduce power consumption by at least 10 units.

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Top-ranked in Cement & Cement Products

Ranked on what management guided this quarter

Guidance-ranked
1Grasim Inds
Rev 1Mar 3
2BIGBLOC Const.
Rev 2Mar 1
3
Rev 3Mar 1
4
Rev 3Mar 3
5
Rev 3Mar 3
Sign up free to see 3 moreTakes 30 seconds · no cardSign up

Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what Ambuja Cements Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The transcript from Ambuja Cements Limited does not explicitly mention specific details about current, expected order book, or pending orders. However, some relevant points related to capacity expansions, projects, and growth outlook include: - Capacity targets: 135 million tons by FY '27 and 155 million tons by FY '28, combining organic and inorganic growth. - Clinker capacity expansions underway in Bhatapara, Sanghi, Marwar-Mundra, Assam (greenfield), and Penna (expected operational by February). - Signed agreement with Assam government for a new 4 million tons clinker line. - Focus on operational efficiencies and ramp-up of new plants expected to improve volume and cash flows. - Capex for growth and efficiency is expected to be around INR 10,000 crores annually in coming years.

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Ambuja Cements Ltd — Quarterly revenue & net profit

Revenue Net profit
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹10.9K Cr, net profit ₹1.9K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Ambuja Cements Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Ambuja Cements Ltd Q3 FY26 results?

Industry demand for cement projected to grow around 8% in FY '26, aligning with 1.1x GDP growth of 7.5%. Target volumes: 115 million tons in FY '26, 135 million tons in FY '27, and 155 million tons in FY '28 (including organic and inorganic growth), with +/- 5-10% capacity utilization variability.

What is Ambuja Cements Ltd share price analysis?

Ambuja Cements Ltd currently shows a neutral. The stock trades at a P/E of 22.0 with a market cap of ₹103,741 Cr. Investors should review the full earnings analysis for detailed insights.

Is Ambuja Cements Ltd planning capital expenditure?

Capex guidance is around INR 8,000 crores annually for growth and an additional INR 2,000 crores for efficiency improvements, totaling approximately INR 10,000 crores per year.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.