UltraTech Cement Limited has informed stock exchanges about receiving two orders from GST authorities in Tamil Nadu related to alleged excess Input Tax Credit (ITC) claims. The disclosure was made on January 30, 2026, under Regulation 30 of SEBI's listing requirements.

GST Order Details

The cement manufacturer received both orders on January 29, 2026, from the Assistant Commissioner, State Goods and Services Tax, Trichy, Tamil Nadu. The orders pertain to different financial years and involve substantial tax demands along with interest and penalties.

Company's Response

UltraTech Cement has indicated its intention to contest both GST demands. The company has stated that it does not expect these orders to have any material financial impact on its operations. This suggests the management believes it has adequate grounds to challenge the allegations of excess ITC availment.

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations, with Company Secretary and Compliance Officer Dhiraj Kapoor signing the communication. The information was shared with BSE Limited, National Stock Exchange of India Limited, Luxembourg Stock Exchange, and Singapore Exchange, reflecting the company's multi-exchange listing status.

Financial Implications

The total tax demand across both orders amounts to Rs.15,25,91,008, with combined interest of Rs.9,28,50,218 and penalties matching the tax demands. However, the company's assertion that it expects no material financial impact indicates confidence in its legal position regarding the GST matters.

UltraTech Cement has reported strong third-quarter financial results, demonstrating robust performance across key operational and profitability metrics. The cement manufacturer's latest quarterly numbers reflect significant year-on-year improvements in both revenue generation and margin expansion.

Financial Performance Highlights

The company's consolidated financial results for the third quarter show substantial growth momentum. Net profit reached ₹17.25 billion, representing a notable increase from ₹12.31 billion recorded in the same quarter of the previous year. This translates to approximately 40% year-on-year growth in bottom-line performance.

Operational Efficiency Improvements

UltraTech Cement's operational metrics indicate enhanced efficiency and profitability. The company's EBITDA for the quarter stood at ₹39 billion, compared to ₹28.95 billion in the corresponding period last year. This represents substantial year-on-year growth in earnings before interest, taxes, depreciation, and amortization.

The EBITDA margin expansion to 17.94% from 16.28% year-on-year demonstrates the company's ability to improve operational leverage and cost management. The margin improvement of 166 basis points reflects better pricing power and operational optimization initiatives.

Strong Quarter Performance

The third-quarter results underscore UltraTech Cement's solid market position and execution capabilities. The significant growth in both absolute profit figures and margin metrics indicates the company's effective navigation of market conditions and operational challenges during the quarter.