Ambuja Cements Limited, part of the diversified Adani Portfolio,
announced its result for the quarter ended 30th September 2026.
Mr. Vinod Bahety, Whole-time Director and CEO, Ambuja Cements Limited, said, “Our Q2 and H1
FY’27 performance underscores Ambuja’s focus on quality growth despite seasonal and external
headwinds. Strengthening trade and premium product mix improved revenue quality, while disciplined
execution and cost management supported profitability.
We continue to strengthen the structural drivers of earnings through manufacturing excellence, energy
efficiency, logistics optimisation and digitalisation, supported by a debt-free balance sheet. Our growth
journey continues, with 4.6 MTPA commissioned in Q2 and another 5.6 MTPA ramping up in H2 FY’27.
The implementation of BCFC infrastructure, a higher share of renewable power, the ramp-up of new
capacities and their additional incentives are expected to support performance in H2 FY’27.
We are on track achieving our cost target of Rs 4,250 per tonne by FY’27. Our growth remains trade-
led, in line with our strategy, while we continue to strengthen the institutional business through a comprehensive solutions approach with a focus on value and profitability. Volumes are expected to
grow ahead of the industry in H2 FY’27, supported by accelerated trade volumes and calibrated
institutional sales. Following the recent Rs 10-15 price increase, the industry expects further pricing
improvement over the next couple of months.
With the strong support received from shareholders, the proposed merger of ACC & Orient with
Ambuja Cements will now proceed to the NCLT for final approvals. The proposed merger is expected
to be EPS accretive.”
Industry Outlook:
Looking ahead, near-term conditions remain challenging amid geopolitical conflicts, global uncertainty
and higher energy costs, following the monsoon-related headwinds during the quarter. At the same
time, structural demand remains supported by infrastructure spending, urbanisation, rural housing
and industrial activity.
With our focus on quality growth, premiumisation, operational efficiency, disciplined capital
deployment and progress towards the One Cement Platform, we remain well positioned to deliver
sustainable, value-led growth.
Business Performance:
Elevated fuel and logistics costs, driven by higher petcoke and coal prices, constrained coal availability,
and increased diesel and packaging costs, continue to weigh on industry margins. Ambuja prioritised
market discipline, improved product mix and sustainable profitability.
Logistics costs were moderately higher YoY due to higher diesel costs, partly offset by the reduction
in primary lead from 265 km to 254 km. Planned shutdowns at major plants have also been
successfully completed. Total cost in Q2 stood at Rs 4,410 per tonne, and excluding the impact of
geopolitical conflicts, at Rs 4,182 per tonne.
Operational Metrics:
| Particulars (YoY) | Q2 FY’27 | Q1 FY’27 | Q2 FY’26 |
| Kiln Fuel Cost | Rs 1.87/’000 kCal | Rs 1.66/’000 kCal | Rs 1.60/’000 kCal |
| Power Cost (Net) | Rs 4.8 / kWh | Rs 4.3/ kWh | Rs 6.0 / kWh |
| Green Power share | 61% | 48% | 41% |
| Primary Lead | 254 kms | 249 Kms | 265 kms |
| Direct Dispatch (%) | 57% | 58% | 59% |
| Premium Products (% of trade sales) | 37% | 34% | 35% |
Update on One Cement Platform:
- Ambuja shareholders approved the proposed amalgamations of ACC Limited and Orient Cement
Limited with Ambuja Cements Limited at the respective NCLT-convened meetings on 29th and
28th September 2026, advancing the One Cement Platform. - The amalgamations are expected to simplify the corporate structure, unlock operating synergies
and support long-term stakeholder value. The proposed merger is expected to be EPS accretive.
Subject to requisite regulatory, statutory and NCLT approvals, completion is expected in FY’27.
ESG Updates: - Partnered with Leilac Limited to advance a commercial-scale low-carbon cement pathway at the
6.6 MTPA Sanghipuram plant, integrating carbon capture and hybrid electrification technologies.
Sanghi pre-feasibility study targeted for completion by December 2026, assessing technical and
commercial viability to determine the next course of action. - Coolbrook’s RotoDynamic HeaterTM technology: First commercial use case expected to become
operational by mid-2027. - Ambuja Cements’ 2025 S&P Global Corporate Sustainability Assessment (CSA) Net Score was
revised upward from 69 to 80, while its industry-leading Gross Score remained at 90/100,
reinforcing its standing among leading global construction materials companies (Aug’26)
Ambuja Cements and ACC secured GreenPro certification for their blended cement portfolios.
The portfolio, including Buildcem and Buildcem Pro, also achieved GRIHA certification, supported
by Life Cycle Assessment (LCA) and Environmental Product Declaration (EPD) recognition.
- Adani Cement planted 7.52 million trees till H1 FY’27, advancing towards its target of 8.3 million
trees and contributing to the Adani Group’s commitment to plant 100 million trees by 2030.
Digitalisation: - Smart Operations: Deployed IoT sensors across the plants and scaled digital manufacturing and
logistics solutions, including PLMS, Agnigati, Reverse Bidding and Auto SO-to-TRP. These
interventions have improved real-time operating visibility, enabled faster decision-making and
strengthened the efficiency and reliability of plant and logistics operations.
Branding and Technical Services: - Scaled the Adani Ambuja Kawach and Adani ACC Gold Water Shield Cement monsoon campaigns
across 2,000+ cinema screens, digital and outdoor media, reaching over 30 million consumers
digitally.
