Slides
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A FORCE FOR GOOD UltraTech Cement Limited Q2FY27 Results
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2 Bigger , Leaner , Greener UltraTech = Brand × cost × scale = value that compounds Growth accelerates down the P&L +9.3% +12.9% +20.3% +21.3% Capacity (mtpa) 192.3 → 210.1 Volume (MnT) 33.9 → 38.2 Op. EBITDA (Rs. Cr) 3,094 → 3,721 PAT (Rs. Cr) 1,238 → 1,501 Higher earnings per tonne, built on brand and cost control Q2 FY27 vs Q2 FY26 RoCE 12.6% ▲ +115 bps Op. EBITDA/t Rs. 974 ▲ +Rs. 60 Q2 FY27 vs Q2 FY26 Green power capacity crosses 2 GW Capacity Utilisation 71% ▲ +500 bps
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3 Agenda ESG updates Business highlights Macro overview Financial performance
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Macro overview
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5 Structural stability amid global volatility Macro overview 7.8% Real GDP growth in Q1FY27; RBI forecasts 7.1% GDP growth for full year 15.5% Centre + State capex growth YoY , April–August'26; public investment leading the cycle 11.9% Real investment (GFCF , public and private) growth in Q1FY27, up from 5.8% a year ago 19.4% Bank credit growth YoY , September'26; broad-based across industry and retail 15.0% GST collection growth YoY in Q2FY27; reflecting continued improving economic activity Above 50 Manufacturing PMI and Services PMI at 55.1 and 55.2 in September’26; sustained expansion and robust demand For cement: Union Budget allocates Rs.12.2 lakh crore for capex in FY27, with ~42% already spent by Aug'26 – sustaining demand from infrastructure, housing and industrial capex .
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6 Key demand drivers across regions Growth Stable DegrowthI Infrastructure C Commercial H Housing R Rural North − Infrastructure demand was supported by projects such as the Delhi–Amritsar Expressway, Mumbai–Delhi Expressway. − Commercial, Housing and Rural demand registered growth. I C H R Central − Infrastructure demand grew as project execution picked up ahead of the elections. Key contributors were road projects, Babatpur International Airport, Gorakhpur International Cricket Stadium, Thermal power projects, Indore Metro and Bhopal Metro. − Commercial demand grew overall, although heavy rainfall in Prayagraj, Rewa and Satna slowed momentum from mid-August through. September. − Housing and rural demand grew across the region. I C H R East − Infrastructure demand was subdued on account of delays in fund flows, floods in Bihar and Assam, and a cyclone in Odisha. − Commercial and Housing demand remained stable overall. West Bengal and Chhattisgarh demand impacted by sand shortages, heavy rainfall and ongoing local body elections I C H R West − In Maharashtra, infrastructure demand was supported by projects such as the Mumbai Metro and Mumbai–Delhi Expressway. Demand in Gujarat aided by Ahmedabad–Mehsana road works, wind turbine foundations, solar park control rooms in Kachchh–Surendranagar, Surat Metro and the Vadodara–Mumbai Expressway. − Commercial demand registered growth. However, aggregate shortage and railway congestion near Lonavala impacted demand intermittently in Mumbai. − Rural and Housing demand grew. I C H R South − Infrastructure demand was muted because construction slowed across projects. Aggregate supply in Kerala was also hit by a crusher strike in Karnataka and a temporary ban on material movement imposed in Tamil Nadu. − Commercial, Housing and rural demand registered overall growth. I C H R Macro overview