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Ambuja Cements Q2 FY27 Share Price & Earnings Call Analysis

₹354.70+1.00% today
Market cap
₹88,136 Cr
P/E
18.72
ROE
8.85%
PEG
0.87
Price to sales
2.20
Debt to equity
0.01
52W high / low
₹577 / ₹341
Sales growth (5Y)
10.65%
EBITDA margin
15.47%
Net profit margin
14.65%
Promoter holding
67.33%
Sales (last year)
₹39,867 Cr

Ambuja Cements Ltd. is among the leading cement companies in India. It is a member of the Adani Group. Currently, Ambuja Cement has a cement capacity of 31 million tonnes with six integrated cement manufacturing plants and eight cement grinding units across the country.[1]

Guidance scorecard · Q2 FY27 call

What Ambuja Cements Ltd's management guided
and where it ranks in Cement & Cement Products

#12of 17 in
Cement & Cement Products
Revenue0–10%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ1 FY27 call

0–10%
  • Ambuja Cements targets an 8% volume growth for FY27, driven primarily by trade sales, which constitute over 75% of total sales.
  • In July (post-Q1), they reported an 8% year-on-year growth in trade volumes, indicating a positive recovery after a decline in Q1.
  • The focus remains on growing high-margin trade segments and expanding brand equity in key markets, supported by investments in channel development.
  • New capacity additions of about 10.2 million tons by FY27 are expected to bolster volume growth.
  • They aim to maintain disciplined execution, premiumization, operational excellence, and digital transformation to sustain revenue growth.

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

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

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

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Capex for FY27 is around INR 6,500 crores, covering growth and efficiency projects.
  • Capacity expected to reach 119 million tons by end of FY27.
  • Organic capacity additions planned for FY28 and FY29, with 8-10 million tons added annually.
  • Expansion in North India completed, adding almost 5.5 million tons capacity.
  • West region expansion underway, including Kalamboli adding 1 million tons.
  • Additional expansions in Bihar, East, and Central regions ongoing.
  • Temporary suspension (not mothballing) of some old ACC and acquired company plants for optimization before restarting.

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

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

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

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Ask what Ambuja Cements Ltd said on the order book →

Full Q1 FY27 analysis
Full Cement & Cement Products ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Cement & Cement Products
on management's own guidance

  1. BIGBLOC Const.Good growth
    2
  2. Strong growth
    1
  3. J K Cements LtdGood growth
    3
See all potential multibaggersWhere does Ambuja Cements Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Cement & Cement Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Flat₹1.99L Cr34.6
2BIGBLOC Const.20–40%Up 2%+₹613 Cr364.4
3J K Cements Ltd20–40%Flat₹37,843 Cr38.8
410–20%Up 2%+₹1,289 Cr—
510–20%Flat₹3.21L Cr37.3
610–20%Flat₹83,058 Cr50.9

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Ambuja Cements Ltd announcements

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Financials of Ambuja Cements Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Ambuja Cements Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +63.19%66.74%70.33%67.57%67.57%67.57%67.57%67.68%67.68%67.68%67.33%67.33%
FIIs +11.88%11.09%9.59%10.61%9.14%8.60%7.43%5.91%5.80%5.87%5.63%5.66%
DIIs +15.56%14.24%13.03%14.98%16.41%17.09%18.49%19.41%19.64%19.86%19.44%19.36%
Government +0.26%0.23%0.21%0.21%0.21%0.21%0.21%0.21%0.21%0.21%0.21%0.00%
Public +9.10%7.69%6.83%6.64%6.66%6.51%6.30%6.77%6.67%6.36%7.38%7.66%
No. of Shareholders5,64,8475,42,7736,11,8046,05,5516,33,7186,44,6966,18,8556,20,4576,25,0136,07,5056,74,2066,73,614

Financials of Ambuja Cements Ltd

Quarterly Results

Quarter-by-quarter operating performance

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales +8,7137,4248,1298,8948,3927,5529,4119,98110,2899,17410,27710,9169,500
Expenses +7,0466,1226,3977,1957,1126,4417,7008,1138,3287,4148,9249,4517,911
Operating Profit1,6671,3021,7321,6991,2801,1111,7121,8681,9611,7611,3531,4651,589
OPM %19%18%21%19%15%15%18%19%19%19%13%13%17%
Other Income +2684802044483582201,3557133003977136150
Interest52617093686767146777592157
Depreciation3723814164594765206076947678859111,053834
Profit before tax1,5121,3401,4501,5951,0947442,3931,8721,427838460527848
Tax %25%26%25%5%28%33%-11%28%27%-175%12%-252%22%
Net Profit +1,1359871,0911,5217834962,6631,3511,0412,3024031,857660
EPS in Rs4.563.994.154.782.601.958.764.163.537.140.977.402.32

Financials of Ambuja Cements Ltd

Profit & Loss

Annual income statement trend

Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023 15mMar 2024Mar 2025Mar 2026TTM
Sales +9,9559,43720,09423,60926,04127,10424,51628,96538,93733,16035,33640,65639,867
Expenses +8,0227,89516,91319,75122,03022,50719,51122,75533,81526,76029,36634,07933,699
Operating Profit1,9341,5423,1813,8584,0114,5975,0066,2105,1226,4005,9716,5776,168
OPM %19%16%16%16%15%17%20%21%13%19%17%16%15%
Other Income +4193534413352326012882524471,4012,646516402
Interest6692153206170170140146195276216224214
Depreciation5136301,4611,2191,1541,1531,1621,1521,6451,6282,2973,5703,683
Profit before tax1,7741,1732,0082,7682,9193,8753,9925,1643,7295,8966,1043,2992,673
Tax %16%31%29%30%-2%28%22%28%19%20%13%-71%
Net Profit +1,4878081,4341,9452,9732,7833,1073,7113,0244,7355,2945,6375,222
EPS in Rs9.595.215.577.6410.9710.5511.9114.0013.0116.2617.4719.1317.83
Dividend Payout %46%54%50%47%14%14%151%45%19%12%11%10%

Financials of Ambuja Cements Ltd

Balance Sheet

Capital structure and asset base

Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital310310397397397397397397397440493494
Reserves9,7609,96119,42420,27521,97323,68122,36024,95731,30141,01253,08658,853
Borrowings +343529244041471477523699788866
Other Liabilities +3,7743,82712,97414,81314,98116,05916,49019,37419,50122,91626,73529,361
Total Liabilities13,87814,13332,82435,50937,39140,17839,71845,20551,72165,06781,10289,574
Fixed Assets +6,3106,17021,41020,89820,63620,70120,48622,25423,55132,19442,76658,263
CWIP6924165826671,0081,5542,4222,1682,5262,6589,8589,121
Investments2,0972,1491751531331501671982148491,912113
Other Assets +4,7805,39810,65713,79115,61317,77316,64320,58525,43029,36526,56622,077
Total Assets13,87814,13332,82435,50937,39140,17839,71845,20551,72165,06781,10289,574

Financials of Ambuja Cements Ltd

Cash Flows

Operating, investing and financing cash movement

Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +1,6751,5572,8103,4161,7034,7394,8325,3097355,6462,2375,362
Cash from Investing Activity +-456-83-4,165-738-765-1,191-1,317-2,007-14,481-8,941-7,529-7,935
Cash from Financing Activity +-721-900-958-1,015-719-629-3,956-5162,9315,6895,592-1,629
Net Cash Flow498574-2,3121,6632202,919-4412,786-10,8152,394301-4,203
Free Cash Flow8549371,9252,3326123,1323,1073,013-3,3311,685-6,354-594
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit102%104%107%102%71%115%120%96%29%103%44%77%

Financials of Ambuja Cements Ltd

Ratios

Working capital efficiency and return ratios

Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days811171418148811131617
Inventory Days379394339323333208193337234238238246
Days Payable265299324370339231259359198196167227
Cash Conversion Cycle12310732-3313-9-58-1446568637
Working Capital Days-61-65-67-62-34-56-80-74458-25-3
ROCE %18%11%11%12%12%14%14%17%12%13%11%6%

Guidance history

How Ambuja Cements Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →0–10%FlatPlanned——
Q4 FY26 call →0–10%Down 0–2%Planned——
Q3 FY26 call →10–20%FlatPlannedPlanned—
Q2 FY26 call →10–20%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

8out of 100

Momentum score · price trend

8 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−36.7%15%
Last 6 months−22.7%16%
Last 3 months−19.3%20%

The price is 48.8% below its all-time high of ₹686.4 (26 Jul 2024). Stocks more than 20% below their peak have their score halved, so 16 became 8.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Ambuja Cements Ltd: 0.4 × 15 + 0.4 × 16 + 0.2 × 20 = 16, halved to 8 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 28 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Ambuja Cements Ltd's management said in earlier quarters

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