UltraTech Cement Limited (ULTRACEMCO) Q1 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

CompoundingAI Research Updated July 15, 2026 4 min read

UltraTech Cement enters its Q1 FY 2026-2027 results facing a complex operational environment defined by rising input costs and a sluggish start to the quarter's demand. Investors will be focused on how the company's margin trajectory holds up against these headwinds and whether its recent acquisitions are successfully contributing to the bottom line.

Quick Details

Results date	July 20, 2026
Quarter	Q1 FY 2026-2027
Previous quarter revenue	Rs. 25,467 Cr
Previous quarter PAT	Rs. 3,011 Cr
Previous quarter EBITDA margin	20%
Net debt (latest quarter)	Rs. 22,781 Cr
Market cap	Rs. 347,801.03 Cr
CMP	Rs. 11,802.7

UltraTech Cement Limited Q1 Results Date and Time

The board meeting is scheduled for July 20, 2026, to consider the audited financial results and recommend dividend for FY2026.

The earnings call is scheduled for July 20, 2026, at 4:00 PM IST.

What to expect from UltraTech Cement Limited's Q1 FY27 results

UltraTech is targeting double-digit volume growth for FY27, though the company must navigate an industry demand environment projected at 6–7% for the current quarter. While the May 2026 core sector print showed 8.4% YoY growth, the quarter experienced a sluggish start with net price increases limited to roughly Rs. 10–12 per bag. Management is focused on offsetting rising fuel costs, which are expected to edge up toward Rs. 1.80/kcal, by leveraging operational efficiencies and the integration of Kesoram and India Cements assets. The company aims to drive Kesoram's EBITDA/t to the Rs. 1,100–1,200 range by end-June 2026, while India Cements works to improve upon its Q4 FY26 EBITDA/t of Rs. 670. The upcoming call will likely address the sustainability of price hikes, the impact of the West Asia crisis on logistics and packaging costs, and the progress of the Rs. 9,000–10,000 Cr annual capex program.

Key Things To Watch

Performance vs Guidance Tracking

Double-digit volume growth (FY27) — Target for FY27 — Status to watch based on Q1 trajectory
India Cements EBITDA/t >Rs. 1,000 — Target by FY28 — Q1 progress vs Q4 Rs. 670/t
Green power mix 60% — Target by FY27/H1 FY28 — Current 43% (FY26)
Brand conversion 100% — Target by end FY27 — Kesoram >70% and India Cements ~55% as at Q3 FY26

Operating metric trajectory

Monitor Q1 FY27 volume growth against the 6-7% industry demand estimate
Track consolidated EBITDA/t performance following the Q4 FY26 level of Rs. 1,253/t
Assess contribution of India Cements and Kesoram assets to overall profitability

Strategic execution and capex

Status update on Cables and Wires business commissioning scheduled for Q3 FY27
Progress on FY27 capacity expansion target of 15.9 MTPA
Review of annual capex spending against the Rs. 9,000–10,000 Cr guidance

Risks and headwinds to monitor

Impact of West Asia crisis on packaging costs (net increase of Rs. 6 per bag) and logistics
Fuel cost inflation with petcoke and coal prices impacting the July-September period
Update on Income Tax appeal regarding the Rs. 808.78 Cr assessment order

Frequently Asked Questions

What is the status of UltraTech's Kesoram and India Cements integration?

Management reports that these assets are moving from integration drag to earnings contributors. Kesoram rebranding is over 70% complete, while India Cements brand conversion is approximately 55%, with both targeting 100% completion by the end of FY27.

How does UltraTech plan to manage rising fuel costs?

Management expects fuel costs to edge up to Rs. 1.80/kcal, with impacts emerging in the July-September period. The company is mitigating these pressures through improved fuel efficiency, which helped reduce captive power costs from Rs. 7.1/Kwh to Rs. 6.5/Kwh in Q3 FY26.

Why has the cement industry struggled to raise prices despite strong demand?

The CFO has attributed the industry's limited pricing power compared to sectors like steel to high industry fragmentation. Management noted that price increases typically occur in the first quarter, and UltraTech remains confident in its ability to outperform the broader industry.

Is UltraTech on track with its capacity expansion goals?

Yes, the company is executing a three-year capex commitment of over Rs. 16,000 Cr to reach a consolidated capacity of over 240 MTPA by FY28. For FY27 specifically, the company is targeting 15.9 MTPA of capacity additions.