Ambuja Cements Limited delivered its highest ever annual volume of 73.7 million tonnes with annual EBITDA of Rs 887 per metric tonne for the financial year ended March 31, 2026. The Board of Directors approved the audited financial results at their meeting held on May 4, 2026, and recommended a dividend of Rs 2 per equity share. The company successfully completed the amalgamation of Sanghi and Penna Cement with Ambuja Cements during the year. Statutory auditors M/s. S R B C & Co. LLP issued their audit reports with unmodified opinion on both standalone and consolidated audited financial results.

Consolidated Financial Performance

For Q4 FY26, the company achieved its highest ever quarterly sales volume of 19.9 MnT, representing 10% YoY growth. Quarterly revenue reached Rs 10,915 crore, up 9% YoY. Operating EBITDA stood at Rs 1,464 crore with a margin of 13.4% and EBITDA of Rs 735 PMT. For the full year FY26, revenue from operations was Rs 40,656 crore, operating EBITDA reached Rs 6,539 crore with a 16.1% margin, and normalised PAT stood at Rs 2,647 crore. On a normalised basis, EBITDA improved 31% YoY from Rs 5,006 crore in FY25.

Standalone Financial Highlights

On a standalone basis, revenue from operations for the full year stood at Rs 25,052.05 crore compared to Rs 20,888.70 crore in the previous year. Profit after tax for the full year was Rs 3,558.37 crore versus Rs 2,835.00 crore in the prior year. For Q4 FY26, standalone revenue from operations was Rs 6,972.21 crore, while profit after tax stood at Rs 1,643.66 crore. Basic EPS for the full year was Rs 14.41 and diluted EPS was Rs 14.34, compared to Rs 11.56 and Rs 11.48 respectively in the previous year. The standalone results have been restated to reflect the amalgamation of Sanghi Industries Limited and Penna Cement Industries Limited with the company.

Operational Highlights and Cost Metrics

The company maintained its debt-free status with net worth of Rs 71,846 crore and cash & cash equivalents of Rs 1,770 crore. Green power share increased to 32% in Q4 FY26 from 26% in the previous year, while annual green power share stood at 31% compared to 21% in FY25. Premium products accounted for 36% of trade sales in Q4 and 35% for the full year. Kiln fuel cost was Rs 1.61/000 kCal for both Q4 FY26 and FY26, while power cost was Rs 5.9/kWh in Q4 and Rs 6.1/kWh for the full year.

Capacity Expansion and Strategic Developments

Total cement capacity increased to 109 MTPA during FY26, supported by the commissioning of 10.7 MTPA new grinding units at Marwar, Farakka, Sankrail, Sindri and Krishnapatnam, along with additional clinker capacity of 7 MTPA at Jodhpur and Bhatapara. During Q4, a clinkering line with 3 MTPA at Jodhpur was commissioned and trial run started for a 1.2 MTPA Dahej GU Line 2. Projects to be commissioned in H1 FY27 include grinding capacities in Dahej (1.2 MTPA), Bhatinda (1.2 MTPA), Salai Banwa (2.4 MTPA), Kalamboli (1 MTPA), Jodhpur (2 MTPA), Warisaliganj (2.4 MTPA) and additional clinker unit at Maratha (4 MTPA). Total capacity is expected to increase to approximately 119 MTPA.

During the year, the Board approved the amalgamation of ACC Limited (appointed date January 1, 2026) and Orient Cement Limited (appointed date May 1, 2025) with Ambuja Cements, subject to regulatory and NCLT approvals. The company also completed the acquisition of Orient Cement with a total shareholding reaching 72.66% post open offer.

Corporate Governance and Auditor Appointments

The Board has recommended a dividend of Rs 2.00 per equity share of face value Rs 2 each, representing a 100% payout for FY26, subject to shareholder approval. The record date for determining dividend entitlement is fixed as June 12, 2026, and payment will be made on or after July 1, 2026. The 43rd Annual General Meeting is scheduled for June 26, 2026, at 2.30 p.m. through video conferencing. The company maintained AAA/A1+ credit ratings from CRISIL and CARE.

The Board also approved the appointment of M/s. P.M. Nanabhoy & Co., Cost Accountants, as Cost Auditors for FY 2026-27, and the appointment of M/s. Grant Thornton Bharat LLP as Internal Auditors in place of Mr. Shobhit Dwivedi, who ceased as Internal Auditor due to organisational restructuring.

Industry Outlook

Cement demand remained strong through FY26. However, demand growth for FY27 is expected to remain soft at approximately 5%, factoring in early forecasts of a below normal monsoon and ongoing West Asia conflicts leading to fuel price volatility. The company is actively strengthening cost-mitigation measures through fuel mix optimisation, higher renewable energy usage, reducing logistics costs via rail and sea, and disciplined production and inventory management.

Ambuja Cements Limited has filed its Statement of Deviation(s) or Variation(s) in the utilisation of funds raised through a preferential issue, pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, for the quarter ended March 31, 2026. The company confirmed that there are no deviations or variations in the use of proceeds from the preferential issue of equity shares (on conversion of warrants). The statement was duly reviewed by the Audit Committee at its meeting held on May 4, 2026.

Preferential Issue Overview

Ambuja Cements raised a total of Rs 15000.046 Crores through a preferential issue conducted in two tranches. The funds were raised to support a broad range of corporate objectives. The key details of the fund-raising exercise are presented below:

The funds were raised in two tranches — Rs 6660.946 Crores as part of Tranche-1 on 28th March, 2024, and Rs 8339.099 Crores as part of Tranche-2 on 17th April, 2024.

Fund Utilisation as of March 31, 2026

The company disclosed the utilisation status of the funds raised against the originally stated objects. As of March 31, 2026, Rs 14895.1 Crore has been utilised, with no deviation or variation reported for the quarter. The following table summarises the fund utilisation details:

Audit Committee Review

The Audit Committee of Ambuja Cements reviewed the statement at its meeting held on May 4, 2026, and offered no comments, indicating no concerns regarding the fund utilisation. The auditors also had no comments on the matter. The disclosure has been made available on the company's website at www.ambujacement.com .

The filing was signed by Manish Mistry, Company Secretary & Compliance Officer (Membership No.: FCS-8373), based in Ahmedabad, on May 4, 2026.