Q1 2026 UltraTech Cement Ltd Earnings Call Transcript
Key Points
- UltraTech Cement Ltd (BOM:532538) reported a consolidated year-over-year growth of 9.7%, including the integration of Kesoram.
- The company is benefiting from increased government spending on infrastructure projects, which is expected to boost cement demand.
- UltraTech Cement Ltd (BOM:532538) is actively integrating India Cements and Kesoram, with plans for efficiency improvements and capacity expansion.
- The company is increasing its renewable energy capacity, aiming to significantly reduce its carbon footprint by fiscal 2028.
- UltraTech Cement Ltd (BOM:532538) is well-positioned for continued growth due to strategic investments in new capacities and cost optimization initiatives.
- The company faced higher production costs due to global price volatilities and increased fuel costs.
- Urban housing markets have been slow, impacting cement demand in certain regions.
- The integration of India Cements and Kesoram is still in progress, with some operational inefficiencies yet to be resolved.
- Despite growth, the company's cost of production remains higher than average, with improvements expected only by fiscal 2028.
- The cement market remains volatile, with demand growth fluctuating due to various economic factors.
Ladies and gentlemen, good day and welcome to the UltraTech Cement Limited Q1 FY26 earnings conference call. (Operator Instructions)
I now hand the conference over to Mr. Atul Daga, Chief Financial Officer of the company. Thank you and over to you, sir.
Thank you so much, (inaudible). Good morning, good afternoon and good evening to everyone, and welcome to our Q1 fiscal '26 earnings call. Let me straight away dive into burning issues with demand.
We believe that the markets have been steady, to say the least. Fundamentally, the government spends on roads continues with announcements of some new projects and push for expediting land acquisitions.
The government CapEx ethics program has shown a marked improvement in the first two months of this quarter on the low base of April, May '24. We are seeing rising state government spends. States like Bihar, Andhra, Gujarat, Maharashtra are doing much better than the other states Y-o-Y.
The country has already built 2,008
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