ACC Q3FY26 results: Net profit plunges 63% to ₹404 cr, revenue up 8.56%

Excluding one-offs of last year, normalised PAT is up 347%

Cement major ACC’s consolidated profit, attributable to owners of the company, for the third quarter of the financial year 2025-26 (Q3FY26) fell 62.97 per cent year-on-year (Y-o-Y) to ₹404.21 crore, amid a high base effect from Q3FY25 and increase in costs.

 

In Q3FY25, the firm, a subsidiary of Adani Group-owned Ambuja Cements, had reported a profit after tax (PAT) of ₹1,091.73 crore, driven by a one-off impact of ₹1,007 crore. On a normalised basis, profit after tax (PAT) for Q3FY26 was ₹380 crore, up from ₹85 crore in Q3FY25.

 

ACC reported revenue of ₹6,482.98 crore for Q3FY26, up 8.56 per cent Y-o-Y. While the revenue exceeded the Bloomberg analysts’ estimate of ₹6,305.4 crore, profit fell short of the estimate of ₹518.4 crore.

 

 

On a normalised basis (excluding one-time gain of government grant of ₹637 crore in Q3FY25 versus ₹91.81 crore in Q3FY26), the company reported its highest-ever quarterly revenue in Q3FY26, driven by a higher premium product as a percentage of trade sales at 43 per cent. Normalised revenue was up 21.7 per cent Y-o-Y.

 

For Q3FY26, ACC recorded its highest-ever quarterly sales volume of 11.3 million tonnes (Mt), up 15 per cent Y-o-Y, while premium sales volume grew by 33 per cent Y-o-Y.

 

ACC’s operating earnings before interest, taxes, depreciation, and amortisation (Ebitda) for Q3FY26 stood at ₹700 crore (down by 37.27 per cent Y-o-Y) and Ebitda margin at 10.8 per cent (down from 18.8 per cent in Q3FY25). Apart from the grants that boosted last year’s topline, among key reasons for the margin decline include the surge in input costs, which increased almost 24 per cent Y-o-Y in Q3FY26. Likewise, freight and forwarding expenses also surged 20 per cent Y-o-Y, and so did other expenses (up 22 per cent Y-o-Y).

 

Vinod Bahety, whole-time director and chief executive officer, ACC, said, “We have sustained our growth momentum with another strong quarter, delivering our highest-ever quarterly volumes. Higher trade and premium cement sales, alongside continued expansion in ready-mix concrete, have supported better realisations than industry peers and strengthened our market position in core regions.”

 

“On the market side, our premium portfolio, led by ACC Gold, continues to deliver superior Ebitda margins, and the increasing share of trade and premium is expected to sustain realisation advantages,” Bahety added.

 

In Q3FY26, ACC’s kiln fuel cost decreased by 1 per cent Y-o-Y to ₹1.66 per 1,000 kilo-calories, while power cost reduced by 1 per cent to ₹5.95 per kilowatt-hour.

 

Additionally, pursuant to the implementation of the new Labour Code in the country, with effect from November 21, 2025, ACC has recognised ₹50 crore as an exceptional expense towards additional gratuity and leave encashment obligations.

 

“We remain focused on resolving specific cost levers as part of our blueprint, particularly power costs, increasing the share of green power, fuel efficiency, improved waste heat recovery system and alternative fuels and raw materials utilisation, and tighter logistics costs,” Bahety added.

 

For the first nine months of FY26 (9M FY26), ACC’s revenue grew by 19.04 per cent Y-o-Y to ₹18,815.67 crore, while profit increased by 15 per cent to ₹1,898.82 crore.

 

In comparison, ACC’s peer Nuvoco Vistas Corp reported a 7 per cent rise in sales volumes at 5 Mt. Dalmia Bharat reported volumes of 7.3 Mt (up 9.5 per cent), while JK Cement’s grey cement sales volume stood at 5.32 Mt, up 22 per cent Y-o-Y. UltraTech Cement reported volumes of 38.87 Mt, up 15 per cent Y-o-Y.

 

Sequentially, ACC’s revenue rose 7.96 per cent, but the profit declined 63.88 per cent. In Q2FY26, the company’s profit stood at ₹1,119.23 crore, driven by certain tax adjustments.

 

The results were announced during market hours. ACC’s shares closed 0.18 per cent lower at ₹1,685.50 on the BSE, even as leading indices were up 0.6 per cent.

 

Earlier, the amalgamation of ACC with Ambuja Cements was announced, aimed at creating a pan-India cement powerhouse under a single corporate structure.

 

The merger is expected to optimise manufacturing and logistics, streamline operations, and strengthen the balance sheet, enabling more efficient capital allocation and faster decision-making. Completion of the transaction is subject to requisite approvals and is expected over FY27.

 

“The proposed integration into the One Cement Platform is expected to accelerate both efficiency and growth, enabling deeper synergies across procurement, manufacturing and distribution once statutory approvals are completed,” Bahety said.