All Q1 FY27 results →

C

India Cements Ltd

Q1 FY27

India Cements Q1 FY27 earnings call: Revenue & Margins

Q1 FY27 earnings call: what management guided on revenue, margins and order book.

Price₹302

Market cap₹9.4K Cr

P/E69.4

Updated16 Oct 2026

Read5 min read

What the Q1 FY27 call signalled

2 of 5 strong

RevenueModerate growth

MarginMargins steady

CapexCapex planned

FundraiseNo fundraise planned

Order bookOrder book rising

The short version

UltraTech is targeting double-digit volume growth in grey cement for FY27, driven by strong demand and market share gains (Page 17). UltraTech Cement targets double-digit volume growth in FY27, driven by strong demand and market share gains.

From India Cements Ltd's Q1 FY27 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

Moderate growth

UltraTech is targeting double-digit volume growth in grey cement for FY27, driven by strong demand and market share gains (Page 17).
The company expects to exit March 2028 with 235 million tons capacity, up from 212 million tons in March 2027, adding 22-25 million tons capacity in the next year (Page 18).
Industry volume growth for Q2 FY27 is estimated around 7-8%, reflecting continued demand momentum (Page 14).
UltraTech's premiumization strategy and strong brand enable capturing market share even in price-sensitive segments, supporting revenue growth (Pages 8, 17).
The company foresees stable-to-higher cement pricing in the near term, barring cost normalization post the West Asia war (Page 17).

2 more points from India Cements Ltd's call on revenue

Pro opens every point from 15K+ earnings calls

Profitability & Margins

UltraTech Cement targets double-digit volume growth in FY27, driven by strong demand and market share gains.
EBITDA per ton is expected to improve sustainably, with full capex benefits from acquired assets flowing from Q4 FY28.
India Cements' EBITDA per ton is on an upward trajectory, aimed at INR1,000 per ton by fiscal '28.
Despite near-term cost inflation, price resilience and premiumization efforts support stable margins.
Net debt to EBITDA ratio is targeted to remain below 1x in FY27, supporting financial health.
Capex of around INR17,000 crores over 2 to 2.5 years will expand consolidated capacity beyond 242 million tons, enabling future growth.

2 more points from India Cements Ltd's call on margins

Pro opens every point from 15K+ earnings calls

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

Capital Expenditure Plans

Capex planned

UltraTech Cement has a capex program of about INR 17,000 crores planned over the next 2 to 2.5 years to increase capacity beyond 242 million tons.
Grey cement capacity is expected to reach 212.7 million tons by end of fiscal '27, with further capacity additions in the following year.
Cables and wires business is a newly launched growth segment with an approved investment program of INR 1,800 crores; currently, INR 888 crores has been spent or committed.
No immediate plans to scale up cables and wires capex further; focus is on maturing the existing business.
India Cements turnaround involves a cost improvement capex of about INR 2,000 crores focusing on equipment upgrades and green power.

2 more points from India Cements Ltd's call on capex

Pro opens every point from 15K+ earnings calls

Fundraising & Capital Structure

UltraTech Cement’s Q1 FY27 call did not mention any plans for new fundraising through debt or equity.
The company is fully funding its growth and capex (INR 17,000 crores over 2-2.5 years) through internal accruals.
Operating cash flows are fully ploughed back into growth and dividends; no additional external funding is currently foreseen.

2 more points from India Cements Ltd's call on fundraising

Pro opens every point from 15K+ earnings calls

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

Order Book & Pipeline

Order book rising

The transcript provided for UltraTech Cement Limited does not explicitly mention the current or expected order book or pending orders in quantifiable terms. However, some relevant points indicating a strong demand pipeline and ongoing projects include: - UltraTech has a very strong capacity base ready to serve the country with plans to grow capacity from 212 million tons in March 2027 to 235 million tons by March 2028. - The demand pipeline is described as "as rich as it can be," covering infrastructure, housing, and urban real estate sectors. - Various large infrastructure projects and investments are underway across India, such as shipbuilding clusters in Maharashtra, Odisha, and Tamil Nadu, and multiple metro expansions. - The company has commissioned new capacities (8.7 million tons in the recent quarter) and is mid-way through a large INR 17,000 crores capex program.

2 more points from India Cements Ltd's call on order book

Pro opens every point from 15K+ earnings calls

India Cements Ltd — Quarterly revenue & net profit

Revenue Net profit Net loss

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Mar 2026Q4 FY26

Jun 2026Q1 FY27

Sep 2026Q2 FY27

Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹1.1K Cr, net profit ₹39 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What India Cements's management said in earlier quarters

Others in Cement & Cement Products this season

NCL Industries (Q1 FY27)
Q1-FY27 EBITDA: INR 396 Mn with 11.52% margin (Page 30) . Key concall takeaways from NCL Industries Ltd's Q1 FY27 earnings call — and how it ranks against…
Prism Johnson (Q1 FY27)
Consolidated Revenue Q1 FY27:** ₹1,844 Cr, up 2.7% YoY (Page 42) . Key concall takeaways from Prism Johnson Ltd's Q1 FY27 earnings call — and how it ranks…
The Ramco Cement (Q1 FY27)
Standalone total revenue for 1QFY27: ₹2,276.18 Cr, up 10% YoY (Page 10) . Key concall takeaways from The Ramco Cements Ltd's Q1 FY27 earnings call — and how it…
Sagar Cements Ltd (Q1 FY27)
No major CapEx planned beyond routine maintenance (~₹30-40 crore annually) till end of FY 2028, focusing on leveraging existing capacity and improving…

Compare:vs UltraTech Cem.vs Grasim Inds vs Ambuja Cements Ltd

🔎 Who's planning the most growth?

Companies ranked by management's own guidance — revenue, margins, capex and order book, from every earnings call in India.

See rankings →

Arthneeti Pro · Annual

India Cements Ltd and 15K+ more earnings calls,
for less than your morning chai

a day

Every earnings call, ranking and concall Q&A across all four results seasons.

Secure Razorpay payment · instant access

Frequently Asked Questions

What were India Cements Ltd Q1 FY27 results?

UltraTech is targeting double-digit volume growth in grey cement for FY27, driven by strong demand and market share gains (Page 17). UltraTech Cement targets double-digit volume growth in FY27, driven by strong demand and market share gains.

What is India Cements Ltd share price analysis?

India Cements Ltd currently shows a below-average growth signal. The stock trades at a P/E of 69.4 with a market cap of ₹9,368 Cr. Investors should review the full earnings analysis for detailed insights.

Is India Cements Ltd planning capital expenditure?

UltraTech Cement has a capex program of about INR 17,000 crores planned over the next 2 to 2.5 years to increase capacity beyond 242 million tons.

Keep India Cements Ltd on your radar — track it to get its next earnings analysis in your feed.

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.