UltraTech Cement Limited — Q2FY27 earnings call summary

Filed 27 October 2026 · Official transcript

FY27 capex guidance around INR10,000 Cr; 4.6 mn tons capacity added in Q2
Industry demand outlook strong through March 2029; urban housing and private capex growth
Q2 FY27 volume growth at 13.8%, ahead of industry estimated 10%
Fuel costs up 13% Q-o-Q; INR51.5 per bag vs INR45; cost pressures expected to persist
Pricing power returning; margins expected to improve with price hikes and cost control
Net debt/EBITDA at 1.26x Sept end; expected below 1x by March 2027
Multiple analyst queries on cost inflation and Ultravolt ramp-up; mgmt confident on margin and growth
Capacity utilization improved to 71% from 66% last year; South and North >70%