UltraTech Cement Limited has made the audio recording of its Q3FY26 earnings call available to investors and stakeholders following the completion of the investor meeting on January 24, 2026. The cement manufacturer has fulfilled its regulatory disclosure obligations by providing online access to the complete earnings discussion.

Earnings Call Details and Accessibility

The earnings call focused on the financial results of UltraTech Cement and its subsidiaries for the quarter ended December 31, 2025. The company has made the complete audio recording accessible through its official investor relations portal.

Regulatory Compliance and Disclosure

The audio recording availability was communicated to major stock exchanges as part of UltraTech Cement's regulatory compliance under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Dhiraj Kapoor signed the official communication on January 24, 2026.

The disclosure was submitted to multiple exchanges where UltraTech Cement maintains listings:

• BSE Limited: Scrip Code 532538
• National Stock Exchange: Scrip Code ULTRACEMCO
• Luxembourg Stock Exchange: Scrip Codes US90403E1038 and US90403E2028
• Singapore Exchange: ISIN Codes US90403YAA73 and USY9048BAA18

Investor Access and Information

Stakeholders can access the complete earnings call recording through UltraTech Cement's dedicated investor relations section. The recording provides comprehensive coverage of the company's Q3FY26 performance discussion, including management commentary and stakeholder interactions during the earnings call session.

UltraTech Cement is poised to report robust year-on-year performance in Q3FY26, with strong volume growth from acquisitions and capacity additions expected to drive topline expansion despite ongoing pricing pressures and elevated fuel costs. The cement major is scheduled to announce its Q3FY26 earnings on January 24.

Financial Performance Outlook

According to a Moneycontrol Poll of 7 brokerages, UltraTech Cement's financial metrics are expected to show healthy growth across key parameters:

The revenue growth reflects strong topline recovery, while PAT improvement is supported by better operating leverage and enhanced profitability. The EBITDA margin expansion indicates continued improvement in operating efficiency despite prevailing cost pressures.

Volume Growth Driving Performance

UltraTech's cement volumes are expected to grow significantly, with brokerages projecting 15-21% year-on-year growth in Q3FY26. BNP Paribas estimates volumes at 36.7 million tonnes, implying 21% YoY and 9% QoQ growth, driven by:

• Consolidation of acquired assets
• Ramp-up of new capacities
• Seasonal recovery in demand

However, HSIE notes that while total volumes should rise around 15% YoY, like-to-like growth remains lower at 8%, reflecting still-muted underlying demand conditions.

Pricing and Cost Dynamics

Cement prices remained under pressure during the quarter, particularly in South and East regions, following GST rate cuts and weak demand in October-November. BNP Paribas estimates UltraTech's blended realisation at ₹5,717 per tonne, down 1% QoQ but up 1% YoY. Elara Securities expects a 2% sequential decline in industry realisations, though UltraTech's diversified regional presence should limit downside impact.

Fuel costs, especially pet-coke, remained elevated during Q3FY26. However, benefits from operating leverage, logistics optimisation, and higher green energy usage are expected to partially offset these cost pressures.

Capacity Expansion and Growth Outlook

During the quarter, UltraTech commissioned approximately 1.8 mtpa of cement capacity, including:

• 0.6 mtpa at Dhule, Maharashtra
• 1.2 mtpa at Nathdwara, Rajasthan

The company has provided guidance for around 8.8 mtpa of additional cement capacity commissioning in Q4FY26, which should further support volume growth in subsequent periods.

Key Monitoring Points

Analysts will focus on several critical factors when evaluating UltraTech's Q3FY26 performance:

• Pricing sustainability across different regions
• Fuel cost trends and their impact on margins
• Demand recovery patterns across various markets
• Progress on capacity utilisation from recent additions

UltraTech's consolidated EBITDA is expected to grow approximately 23% YoY and 15% QoQ to about ₹35,460 crore, driven by strong volume growth and operating leverage, though margins remain below peak levels due to ongoing pricing pressures.