UltraTech Cement gears up for expansion plans and market share gains

UltraTech Cement's profit and margin rose sharply in Q2FY26 as demand, cost controls, and GST 2.0 reforms supported growth; firm eyes 235 mtpa capacity by FY29

UltraTech Cement’s earnings in the second quarter of 2025-26 (Q2FY26) were in line with consensus estimates or slightly lower. Operating profit grew 53 per cent year-on-year (Y-o-Y) to ₹3,090 crore. Operating profit per tonne increased 32 per cent Y-o-Y to ₹914 crore, which was lower than consensus. The operating profit margin (OPM) expanded 3.3 percentage points Y-o-Y to 16 per cent. Net profit increased 75 per cent Y-o-Y to ₹1,230 crore. 

The company management indicated a positive demand outlook, supported by goods and services tax (GST) 2.0, rural demand, urban real estate, infrastructure projects, and private capex. Brand