Interim report
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UltraTech Cement Limited Registered Office : Ahura Centre, B – Wing, 2nd Floor, Mahakali Caves Road, Andheri (East), Mumbai 400 093, India T: +91 22 6691 7800 / 2926 7800 I F: +91 22 6692 8109 I W: www.ultratechcement.com/www.adityabirla.com I CIN : L26940MH2000PLC128420 19th October, 2026 BSE Limited Corporate Relationship Department Scrip Code: 532538 The National Stock Exchange of India Limited Listing Department Scrip Code: ULTRACEMCO Sub: Outcome of Board meeting – Financial Results Dear Sirs, We refer to our letter dated 1st September, 2026, intimating about the meeting of the Board of Directors of the Company ("the Board") to be held today, i.e. Monday, 19th October, 2026. We now inform you that the Board, at its meeting held today , approved the Standalone and Consolidated Unaudited Financial Results of the Company for the quarter and half year ended 30th September, 2026. The Quarterly Unaudited Financial Results (Standalone and Consolidated) along with Limited Review Reports and press release are attached for your records. The meeting commenced at 12 noon and concluded at 1:40 p.m. This is for your information and records, please. Yours faithfully, For UltraTech Cement Limited Dhiraj Kapoor Company Secretary and Compliance Officer Encl: a/a Luxembourg Stock Exchange BP 165 / L – 2011 Luxembourg Scrip Code: US90403E1038 and US90403E2028 Singapore Exchange 2 Shenton Way, #02-02, SGX Centre 1, Singapore 068804 ISIN Code: US90403YAA73 and USY9048BAA18 Citibank N. A. Custody Services FIFC, 9th Floor, C-54 & 55, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 098 Citibank N.A. Depositary Receipt Services 388, Greenwich Street, 6th Floor, New York, NY 10013
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Deloitte Haskins & Sells LLP Chartered Accountants One International Center, Tower 3, 31st Floor, Senapati Bapat Marg Elphinstone Road (West) Mumbai - 400 013 Maharashtra, India Tel: +91226185 6000 Fax: +91226185 4101 INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS OF ULTRATECH CEMENT LIMITED FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2026 TO THE BOARD OF DIRECTORS OF ULTRATECH CEMENT LIMITED 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of UltraTech Cement Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"),and its share of the net loss after tax and total comprehensive loss of its associates and joint venture for the quarter and six months ended September 30, 2026 ("the Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 and Regulation 52 read with Regulation 63) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listlng Regulations"). 2. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52 read with Regulation 63 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of personnel responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable. Regd. Office: One Internati onal Center, Tower 3, 31st floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai-400 013, Maharashtra, India. Deloitte Haskins & Sells LLP is registered with Limited Liability having LLP identification No: AAB-8737
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Deloitte Haskins & Sells LLP 4. The Statement includes the results of the following entities: :Name of the Entity I ' Relationship I ;Sr. No. :1 L UltraTech Cement Limited (including UltraTech [Parent Employee __ Welfare Trust)___ _ __________ --------~---- - __ ___ _ 2 I :Harish Cement Limited Wholly owned L .. _ __ ___ ___ ~subsid_iary 3 Gotan Limestone Khanij Udyog Private Limited Wholly owned ! :subsid_iary 4 Bhagwati Limestone Company Private Limited Wholly owned L L __ _ ___ _ _____ _ ___ .. -·--------- --- - ~~l?~_idiary ___ _ :5 Birla White Wallcare Private Limited (erstwhile Wholly owned L _:f 0o2n£t: ~-~l~~~~e : _ri~~~~ L~~~~~-~ -~~::~· . 29 ~~- ~ - _ _ i s~~s~i~~ __ _ I 6 'UltraTech Cement Middle East Investments Limited Wholly owned (including its following subsidiaries, step-down subsidiary [_ ;subsidiarie~) _ _ _ __ ___ _ a. St.:1r Cement Co. L.L.C., [)ubai, UAE I?.: ?.t?.)r_ C:ement Co. L.L.C:, -~~c.lJA!;: _ _ _ c. Al Nakhla Crusher Co. L.L.C., Fujairah, UAE d. Arabian Cement Industry L.L.C., Abu Dhabi ~-· UltraTech Cement Bc1hraira C::9. VVLJ-:, ~cihrai_n f. Star Super Cement Industries LLC, UAE (including its following subsidiaries) !: E3C:: Tradellnk ~i1T1i!~sf1 Tar:)~a11ic:1 ii. Binani Cement {Tanzania) Limited iii. Binani Cement (Uganda) Limited g . Duqm Cement Project International LLC, Oman h. Ras Al Khaimah Co. For White Cement and Construction Materials PSC, UAE (including its following subsidiaries) • L Moder!) Block F.:1ctory ~~t~l:>lj~_!lrr,ent ii. Ras Al Khaimah Lime Co. Noora LLC ---- ------ - ----- ___ .... .. -- . ---------------· - - ----- - 7 Letein Valley Cement Limited 8 9 - UltraTe<:h C:ement Lan~c1 (Priyc1t~) ~ir:nitecl Bhumi Resources PTE LTD, Singapore (including its following wholly owned subsidiary) (upto 02 Februc:1ry ?0?6) . . __ _ a. PT Anggana Energy Resources, Indonesia (upte> 02 February 2026) 10 Madanp~r (North) Coal C()lllp?rnY Private Limited 11 Aditya Birla Renewables SPV 1 Limited 12 Aditya ~irla Renei,yables ~nergy ~imited 13 ABReL (Odisha) SPV Limited 14 ABReL (MP) Renewables Limited 15 ABReL Green Energy Limited 6 ABREL (RJ) Projects Limited ' i Wholly owned ~ubsigiary Subsidiary Wholly owned subsidiary Associate Associate Associate Associate Associate Associate Associate
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Deloitte Haskins & Sells LLP Sr. :I\J-9, 17 '18 'Name of the Entity ! Relationship ;Bhaskarpara Coal Company Limited Joint Venture The India Cements Limited (including its following :Subsidiary 'subsidiaries and associate)_ _ _ _ 1 1 ···· - 'Subsidiaries l_ ~JnqLJs_trial Chemic~I~ ~ tv1011<:>IT!~r~ J:,i!!li!ed ___ _ L ' b.Coromandel Minerals Pte. Ltd, Singapore : cPT Coromandel Miner.al Resources, Jndonesia d.PT Adcoal Energindo, Indonesia (upto 02 December 2025) 1 e.Raasi Minerals Pt~: Ltd, Singapor~ f.Trinetra Cement Limited ;(Transferor Company under the scheme under Section 234 of the Companies Act 2013, existing as 'on date as per order of Hon'ble High Court of Madras / National Company Law Tribunal) Associate PT Mitra Setia Tanah Bumbu, Indonesia (upto 02 :December 2025) 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 read with Regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. We draw attention to Note 6 of the Statement, which refers to the orders dated August 31, 2016 (Penalty of Rs. 1,804.31 crores) and January 19, 2017 (Penalty of Rs. 68.30 crores) of the Competition Commission of India ('CCI') against which the Company (including erstwhile UltraTech Nathdwara Cement Limited and The India Cements Limited) had filed appeals. Upon the National Company Law Appellate Tribunal ("NCLAT") disallowing its appeals against the CCI order dated August 31, 2016, the Company has filed appeals before the Hon'ble Supreme Court of India, which has by its order dated October 5, 2018, granted a stay against the NCLAT order. The Company has deposited an amount of Rs. 180.43 crores equivalent to 10% of the penalty of Rs. 1,804.31 crores, recorded as an asset. The Parent Company, backed by legal opinions, believes that it has a good case in both the matters basis which no provision has been recognised in the books of account Our conclusion on the Statement is not modified in respect of this matter.
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Deloitte Haskins & Sells LLP information/ financial results reflect total assets of Rs. 23,021.71 crore as at September 30, 2026 and total revenues of Rs. 2,458.72 crore and Rs. 4,640.44 crore for the quarter and six months ended September 30, 2026 respectively, total net profit after tax of Rs. 180.42 crore and Rs. 424.63 crore for the quarter and six months ended September 30, 2026 respectively and total comprehensive income of Rs. 243.27 crore and Rs. 502.17 crore for the quarter and six months ended September 30, 2026 respectively and net cash outflows of Rs. 194.16 crore for the six months ended September 30, 2026 as considered in the Statement. The unaudited consolidated financial results also includes the Group's share of profit after tax of Rs. 1.40 crore and loss after tax of Rs.0.80 crore for the quarter and six months ended September 30,2026 respectively and total comprehensive income of Rs. 1.40 crore and total comprehensive loss Rs. 0.80 crore for the quarter and six months September 30, 2026 respectively, as considered in the Statement, in respect of 1 joint venture and 6 associates, whose interim financial information/ financial results have not been reviewed by us. These financial information / financial results have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, joint ventures and associates, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of this matter. 8. The unaudited consolidated financial results includes the financial information/ financial results of 9 subsidiaries which have not been reviewed their auditors, whose interim financial information/ financial results reflect total assets of Rs. 145.99 crore as at September 30, 2026, total revenue of Rs. 95.93 crore and Rs. 177 .54 crore for the quarter and six months ended September 30, 2026 respectively, total loss after tax of Rs. 4.19 crore and Rs. 16.30 crore for the quarter and six months ended September 30, 2026 respectively and total comprehensive loss of Rs. 5.80 crore and Rs. 14.78 crore for the quarter and six months ended September 30, 2026 respectively and net cash outflows of Rs. 8.50 crore for the six months ended September 30, 2026 as considered in the Statement. The unaudited consolidated financial results also includes the Group's share of profit after tax of Rs. 0.01 crore and Rs.0.01 crore for the quarter and six months ended September 30, 2026 respectively and total comprehensive income of Rs. 0.01 crore and Rs. 0.01 crore for the quarter and six months ended September 30, 2026 respectively as considered in the Statement, in respect of 1 associate, based on their interim financial statements/ financial information/ financial results which have not been reviewed by their auditors. According to the information and explanations given to us by the Management, these interim financial statements / financial information/ financial results are not material to the Group. Our conclusion on the Statement is not modified in respect of our reliance on the financial statements / financial information / results certified by the Management.
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Deloitte Haskins & Sells LLP expressed an unmodified opinion on those unaudited consolidated financial results. The consolidated financial results of the Company for the year ended March 31, 2026, included in this Statement were jointly audited by us and KKC & Associates LLP whose report dated April 27, 2026 expressed an unmodified opinion on those consolidated financial results. Our conclusion on the Statement is not modified in respect of this matter. Place: Mumbai Date: October 19, 2026 For Deloitte Haskins & Sells LLP Chartered Accountants (Firm's Registration No. 117366W/W-100018) .p~.¥- : Bhor Partner Membership No. 111787 UDIN:~ G 111 ":f-~-:J-O~Lul)E_~,S-~o
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ADITYA BIRL Ultra'IIH.h , In Crores Statement of Unaudited Consolidated Financial Results for the Three Months and Six Months Ended 30/09/2026 Three Months Ended Six Months Ended Year Ended Sr. Partlculars 30/09/2028 30/06/2026 30/09/2025 30/09/2026 30/09/2025 31/03/2026 No. (Unaudited) (Unaudited) (Audited) 1 Revenue from Operations 23,295.07 24,648.20 19,606.93 47,943.27 40,882.38 88,511.53 2 Other Income 110.89 130.27 174.14 241.16 354.37 577.51 3 Total Income (1+2) 23,405.96 24,778.47 19,761.07 48,184.43 41,238.75 89,089.04 4 Expenses (a) Cost of Materials Consumed 4,208.23 4,129.36 3,383.74 8,337.59 6,816.45 14,568.44 (b) Purchases of Stock-in-Trade 841.10 710.43 579.28 1,551.53 1,114.49 2,516.57 - (c) Changes in Inventories of Finished Goocs, Stock-in-Trade and Work-in- Progress (387.59) (135.69) (72.08) (523.28) (220.96) 103.35 - (d) Employee Benefits Expense 1,163.31 1,106.30 1,064.39 2,269.61 2,036.63 4,162.44 (e) Finance Costs 551.75 452.93 459.29 1,004.68 892.59 1,871.71 (f) Depreciation and Amortisation Expense 1,213.35 1,200.51 1,147.68 2,413.86 2,254.46 4,644.46 (g) Power and Fuel Expense 5,511.06 5,418.65 4,444.19 10,929.71 9,306.09 19,597.16 (h) Freight and Forwarding Expense 4,809.65 5,210.61 4,127.13 10,020.26 8,776.10 19,169.13 (i) Other Expenses 3,428.02 3,193.09 2,985.94 6,621.11 5,548.90 11,374.21 Total Expenses 21,338.88 21,286.19 18,119.56 42,625.07 36,524.75 78,007.47 5 Profit before Exceptional Items, Share In (Loss)/ Profit of Assocla1es and 2,087.08 3,492.28 1,661.51 5,559.36 4,712.00 11,081.57 Joint Venture and Tax Expense (J.4) 6 Exceptional Items Loss/ (Gain) : (Refer Note 4) -(a) Statutory Impact of New Labour Codes 88.48 --(b) Others 6.29 13.25 19.54 38.38 50.07 --- 7 Share in (Loss)/ Profit of Associates and Joint Venture (net of Tax expense) (2.21) 1.40 (5.88) (0.81) (9.99) (15.83) 8 Profit before Tax Expense (5-6+7) 2,058.58 3,480.43 1,655.83 5,539.01 4,663.63 10,927.19 9 Tax Expenses Cu1T0nt Tax Charge 435.55 758.43 330.83 1,193.98 1,025.99 2,313.62 -Deferred Tax Charge 121.65 118.28 87.02 239.93 178.75 425.22 10 Net Profit for the period (8-9) 1,501.38 2,603.72 1,237.98 4,105.10 3,458.89 8,188.35 Profit attributable to Non-Controlling Interest 7.61 4.44 6.40 12.05 1.41 22.71 -- ----Profit attributable to the Owners of the Parent 1,493.77 2,599.28 1,231.58 4,093.05 3,457.48 8,165.84 11 Other Comprehensive Income/ (Loss) for the period Items that will not be reclassified to profit or loss (net) (80.94) 33.76 158.84 (47.18) 188.05 (60.27) Income tax relating to ~ems that will not be reclassified to profit or loss 10.82 (2.09) (20.33) 8.73 (19.96) 14.70 ,- - - Items that will be reclassified to profit or ioss (net) 61.76 90.44 100.20 152.20 102.08 122.67 Income tax relating to ijems that will be reclassified to profit or loss (0.77) (23.14) 12.91 (23.91) 11.14 79.03 Other Comprehensive Income I (Loss) for the period (9.13) 98.97 251.62 89.84 281.31 156.13 Other Comprehensive Income attributable to Non-Controlling Interest 15.84 6.89 44.54 22.53 58.99 121.67 - - -- Other Comprehensive Income/ (Loss) attributable to Owners of the Parent (24.77) 92.08 207.08 67.31 222.32 34.46 12 Total Comprehensive Income for the period (10+11) 1,492.25 2,702.69 1,489.60 4,194.94 3,740.20 8,344.48 Total Comprehensive Income attributable to Non-Controlling Interest 23.25 11.33 50.94 34.58 60.40 144.38 ,_2otal Comprehensive Income attributable to Owners of the Parent 1,469.00 2,691.36 1,438.66 4,160.36 3,679.80 8,200.10 13 Paid-up Equity Share Capital (Face value f 10/- per share) 294.88 294.68 294.68 294.68 294.68 294.68 14 Other Equity 76,328.86 -- - - ---- 15 Earnings per equity share (of, 10/- each) (Not Annualised): - -(a) Basic (in f) 50.78 88.36 41.87 139.15 117.56 277.62 - - -- -- (b) Diluted (in~) 50.75 88.31 41.84 139.07 117.46 277.45 Pane: 1/5
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Notes: 1. Statement of Asset& and Llabllltles: I!' lnCrores Sr. Particulars As at 30/09/2026 As at 31/0312026 No (Unaudited) (AudHed) (A) ASSETS -~ -1 Non-Current Assets Property, Plant and Equipment 83,658.37 80,283.38 - 1-- ---- --- Capital Work-in-Progress 7,654.90 8,275.87 ~ Goodwill 7,927.19 7,909.05 Other Intangible Assets 9,610.18 9,886.78 Intangible Assets under Development 485.89 466.40 Right-of-Use Assets 628.01 714.34 Investments Accounted using Equity Method 369.43 319.41 - Financial Assets: - Investments 2,452.60 2,684.48 - Loans 14.58 17.21 - Other Financial Assets 3,349.48 3,063.39 Deferred Tax Assets (Net) 51.49 60.95 Income Tax Assets (Net) 266.38 266,26 - Other Non-Current Assets 2,552.14 2,181.09 Sub-Total Non-Current Assets 1,19,020.64 1,16,128.61 2 Current Asset& -Inventories 11,399.81 9,694.28 Financial Assets: ---- --- Investments 2,410.30 3,735.62 ,_ f------ Trade Receivables 6,315.46 6,028.75 - Cash and Cash Equivalents 143.80 354.48 -Bank Balances other than Cash and Cash Equivalents 1,571.91 1,029.87 Loans 12.65 13.37 ,- ---- Other Financial Assets 1,263.48 1,535.87 Income Tax Assets (Net) 65.19 64A5 Other Current Assets 2,761.22 2,645.06 Sub-Total Current Assets 25,943 .82 25,101.75 Assets held for sale 134.31 145.69 TOTAL - ASSETS 1,45,098.77 1,41,376.05 (B) EQUITY AND LIABILITIES (I) EQUITY - - Equijy Share Capital 294.68 294.68 --- Other Equity 73,292.56 76,328.86 Non-Controlling Interest 4,114.76 4,088.90 ---(II) LIABILITIES 1 Non-Current Llabllltles Financial Liabilities: Borrowings 17,569.44 15,018.82 - -Lease Liabilities 662.26 751.72 ,_ -- ~ Other Financial Liabilijies 186.68 236.35 -- ---- Non-Current Provisions 959.51 934.96 Deferred Tax Liabilities (Net) 10,136.57 9,890.06 Sub-Total - Non-Current Llabllltles 29,514.46 26,831.91 2 Current Uabllltles - Financial Liabilities: --Borrowings 10,641.59 7,761.64 Lease Liabilities 216.02 222,71 Trade payables ,- Total Outstanding Dues of Micro Enterprises and Small Enterprises 478.34 518.62 Total Outstanding Dues of other than Micro Enterprises and Small 11,469A3 9,718.09 Enterprises - Other Financial Liabilities 6,265A9 6,510 .58 --- Other Current Liabilities 5,710.31 6,311.87 -- - Provisions 255.18 354.64 Current Tax liabilities (Net) 2,645.95 2,433.15 Sub-Total. Current Uabllllles 37,882.31 33,831.70 TOTAL - EQUITY AND LIABILITIES 1,45,098.77 1,41,376.05 Pa e : 2/5
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2. Statement of Cash Flows: f' In Crores Six Montha Ended ~: Particulars 30/09/2026 I 30/09/2025 (Unaudited) (A) Caah Flow from Operating Activities: Profit Before tax 5,539.01 4,663.63 - -Adjustments for: Depreciation and Amortisation Expense 2,413.86 2,254.46 -Gain on Fair Valuation of Investments (18.58) (61.31) Unrealised Exchange (Gain)/ Loss 55.40 4.39 I- - Share in Loss / (Profit) on equity accounted investment 0.81 9.99 Exceptional Item Others-(Profit) / Loss on Sale of Assets (23.69) lmpainnent of Assets . 38.38 Compensat ion Expenses under Employees Stock Options Scheme 27.92 23.18 Allowances for credit losses on Advances / debts (net) (4.91) 10.22 Bad Debts Written-off 3.10 0.96 Excess Provision / unclaimed liabilities written back (net) r- (102.29) (60.03) Interest and Dividend Income (145.71) (132.90) Finance Costs 1,004.68 892.59 Profrt on Sale / Retirement of Property, Plant and Equipment (net) (1 .33) (20.02) Profit on Sale of Current and Non-Current Investments (net) (63.62) (48.60) - 8,684.67 7,574.94 - >- Movements in wor1<ing capital: f- Increase/ (Decrease) in Trade payables and other Liabilities 1,276.01 (801.31) (Decrease)/ Increase in Provisions (23.62) 18.34 (Increase) / Decrease in Trade receivables (273.55) 112.26 - -Increase in Inventories (1,701.43) (880.95) Increase in Financial and Other Assets (71.11) (416.74) Caah generated from Operations 7,890.97 5,606.54 Taxes paid (net of refund) (981.27) (39.77) Net Cash generated from Operating Activities (A) 6,909.70 5,566.77 - (B) Caah Flow from Investing Activities: Purchase of Property, Plant and Equipment (5,768.92) (4,795.57) -- - Proceeds from Sale of Property, Plant and Equipment 89.38 122.58 Payment for Cost of transfer of Assets (27.50) . Purchase of Liquid Investment (net) (256.68) (13.00) Purchase of Investments (2,429.43) (2,680.57) --- Proceeds from Sale of Investments 4,134.89 3,375.63 Redemption / (Investment) in Non-Current Bank deposits 49.11 (55.00) Investment in Joint Venture and Associates (50.83) (23.05) -- -- Acquisition of Equity Shares in Subsidiary . (50.73) (Investment)/ Redemption in Other Bank deposits (342.04) 30.19 Investment in Other Non-Current Equity Investments (Net) (61.80) (61.87) Sale of Equity Shares in Subsidiary . 715.29 Dividend Received 0.37 3.78 Interest Received 191.68 129.58 Net Cash used In Investing Activities (B) (4,471.77) (3,302.74) (C) Cash Flow from Financing Activities: Purchase of Treasury Shares (191.09) (119.34) ---Proceeds from Issue of Treasury Shares 26.61 16.90 Repayment of Non-Current Borrowings (1,205.07) (400.08) -- --- Proceeds from Non-Current Borrowings 5,090.20 - - Proceeds from Current Borrowings (net) 1,636.06 1,032.26 -- Repayment of Lease Liabilities (121.05) (131.30) Payment of Interest on Lease Liabilities (27.62) (30.69) Interest Paid (816.65) (724.44) Dividend Paid (7,043.58) (2,264.18) Net Cash used In Financing Activities (C) (2,652.17) (2,620.87) t-- - (D) Net Decrease In Cash and Cash Equivalents (A+B+C) (214.24) (356.84) - (E) Cash and Caah Equivalents as at beginning of the period 354.48 467.21 (F) Caah and Cash Equivalents transferred from Blria White Wall Care . Private Limited - (G) Effect of Exchange rate fluctuation on Cash and Cash Equivalents 3.56 1.78 (H) Caah and Cash Equivalents at the end of the period (D + E + F + G) 143.80 112.15 Pa : 3/5
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3. Additional disclosures as per Clause 52 (4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015: Three Months Ended Six Months Ended Year Ended Sr. Particulars No. 30/09/2026 30/06/2026 30/09/2025 30/09/2026 30/09/2025 31/03/2026 (Unaudlled) (Unaudlled) (Audlled l (a) Debenture Redemption Reserve (f In Crores) 37.50 37.50 . 37.50 37.50 - - {b) Securities Premium (' In Crores) 11,314.45 11,311.88 11,311.88 11,314.45 11,311.88 11,311.88 - (c) Net Worth (' In Crores) 77,702.00 83,431.66 75,966.84 77,702.00 75,966.84 80,712.44 -- - (d) Net Profit after Tax (' In Crores) 1,501.38 2,603.72 1,237.98 4,105.10 3,458.89 8,188.35 (e) Basic Earnings per Share (Not annualised) 50.78 88.36 41.87 139.15 117.56 2n.62 --- - (I) DIiuted Earnings per Share (Not annualised) 50.75 88.31 41.84 139.07 117.46 277.45 (g) Debt-Equity ratio (In times) 0.37 0.27 0.32 0.37 0.32 0.28 [(Non-Current Borrowings + Current Borrowings) /Equity) - Long tenn Debt to Working Capital (In times) {h) ((Non-Current Borrowings+ Current Maturities of Long Term Debt){ {18.39) 26.72 (9.03) (18.39) (9.03) (16.73) Net Working Capital excl. Current Borrowings) (I) Total Debts to Total Assets ratio (In times) 0.20 0.16 0.18 0.20 0.18 0.16 ((Non-Current Borrowings + Current Borrowlnasl/Total Assets) Debt Service Coverage Ratio (In times) ((Net Profit for the period + Finance Costs + Depreciation and Amortisation 0) Expense+ Lossl(Galn) on Sale of Property, Plant and Equipment)/ (Gross 2.02 6.97 3.39 3.38 5.01 4.51 Interest+ Lease Payment+ Repayment of Long tenn debt excluding pre- payments )]· Not Annualised Interest Service Coverage Ratio (In times) (k) ((Net Profit for the period + Finance Costs + Depreciation and Amortisation 6.16 8.45 6.87 7.27 8.01 8.61 Expense+ Loss/(Galn) on Sale of Property, Plant and Equipment) I Gross Interest)• Not Annualised --- (I) Current Ratio (In times) 0.96 1.02 0.93 0.96 0.93 0.96 (Current Assets/Current Uabllltles excl. Current Borrowings) - (m) Bad debts to Account recelvable ratio (In %) 0.11% 0.08% 0.01% 0.19% 0.10% 0.26% (Bad Debts/Average Trade Receivable)- Not Annualised - (n) Current liability ratio (In times) 0.40 0.44 0.41 0.40 0.41 0.43 (Current Uabllltles excl. Current BorrowlngsfTotal Uabllltles) - - (o) Debtors Turnover (In times) 14.70 15.99 12.90 15.39 13.81 14.66 (Sales of Products and Services/Average Trade Recelvable)- Annualised (p) Inventory Turnover (in times) 8.19 9A2 7.46 9.01 8.07 9.08 (Sales of Products and Services/Average Inventory)- Annualised - -- Operating Margin (In %) (q) ((Profit before Exceptional Items, Share In Proflt/(Loss) of Associates & Joint 16% 21% 16% 18% 19% 19% Venture and Tax+ Depreciation and Amortisation expense+ Finance Costs(· ) Other lncome)/Sales of Products and Services) - (r) Ne1 Profit Margin (In %) 7% 11% 6% 9"k 9"1, 9% (Net Profit for the period/Sales of Products and Services) Page: 4/5
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4. During the year ended 31/03/2026, the Government of India notified the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Wort.Ing Conditions Code, 2020 (collectlvely, the "Labour Codes"), consolidating 29 exlsUng labour laws. Among other changes, the Labour Codes Introduced a uniform definition of wages and enhanced leave-related benefits. The Ministry of Labour & Employment Issued draft Central Rules and FAQs to facllltate assessment of the resulting flnanclal Impact. In accordance with guidance Issued by the Institute of Chartered Accountants of India and based on an actuarlal valuation, the Company recognised f 88.48 Crores as the statutory Impact of the Labour Codes on additional gratuity liablllty and compensated absences. This amount, classified as past service cost arising from the revised definition of wages, was presented under Exceptional Items In the Statement of Profit and Loss for the year ended 31/03/2026. Details of ExceDHonal Items Loss/ /Galnl - Others Particulars Three Months Ended , In Cro=rs~s------~ ---r--- ---=s7lx---ccMc-o-n""th-s"'E=n- d..,.ed~ Year Ended 30/09/2026 30/06/2026 30/09/2025 30/09/2026 30/09/2025 31/0312026 a. Provision for disputed liabilities for Prior c,eriods 43.23 43.23 b. Loss / /Profit! on Sale of Assets c. Provision for lm0airmenl in value of lnveslment/ Asset -~----+--- ----"'6=.2cc..;9 (29.98) (23.691 38.38 50.07 Exceotlonal Items Loas / (Gain) • Others 6.29 13.25 1g_54 38.38 50.07 5. At Its meeting held on 03/04/2025, the Board of Directors approved the acquisition of 6,42,40,000 equity shares of f 10 each ("Sale Shares") of Blrla White Wall Care Private Limited (fonnerty Wonder WallCare Private Limited) ("Blrla White WallCare"), a manufacturer of wall putty and related products , for an enterprise value of f 234.43 Crores. The acquisition was completed on 29/05/2025, when Blrta White WallCare became a wholly owned aubsldlary of the Company. The above results Include the flnanclal results of Blrla White WallCare from 29/05/2025. Accordingly, the figures for the six months ended 30/09/2026 are not comparable with the corresponding previous period. In accordance with Ind AS 103, the purchase consideration was allocated based on the fair values of the assets acquired and llabllltles assumed as at the acquisition date. 6. The Company (Including The India Cements Limited) flied appeals against the Competition Commission of India ("CCI") orders dated 31/08/2016 (penalty of f 1,804.31 Crores) and 19/01/2017 (penalty off 68.30 Crores). After the National Company Law Appellate Tribunal ("NCLA T") dismissed the appeal against the CCI order dated 31/08/2016, the Company appealed to the Hon'ble Supreme Court, which, by Its order dated 05/10/2018, stayed the NC LAT order. The Company has deposited an amount of , 180.43 Crores, equivalent to 10% of the penalty of f 1,804.31 Crores. Based on legal opinions, the Company believes It has a strong case and has therefore not recognised any provision In the results. 7. The Group operates exclusively In the single segment of manufacturtng, marl<etlng, and distribution of building materlals and providing complete building solutions and support services. 8. The above results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 19/10/2026. Mumbai Date: 19/10/2026 UltraTech Cement Limited Regd Office: 2nd Floor, 'B' Wing, Ahura Centre, Mahakali Caves Road, Andheri (E), Mumbai -400093 For and on behalf of the Board of Directors K.C. Jhanwar Managing Director Tel: 022 - 66917800; Fax: 022 - 66928109; Website: www.ultratechcemenl.com; CIN: L26940MH2000PLC128420 Paae : S/5
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Deloitte Haskins & Sells LLP Chartered Accountants One International Center, Tower 3, 31st Floor, Senapati Bapat Marg Elphinstone Road (West) Mumbai - 400 013 Maharashtra, India Tel: +91226185 6000 Fax: +91226185 4101 INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF UNAUDITED STANDALONE FINANCIAL RESULTS OF UL TRATECH CEMENT LIMITED FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30,2026 TO THE BOARD OF DIRECTORS OF UL TRATECH CEMENT LIMITED 1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of UltraTech Cement Limited ("the Company"), which includes UltraTech Employees Welfare Trust ("Trust") for the quarter and six months ended September 30, 2026 (''the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 and Regulation 52 read with Regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations"). 2. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52 read with regulation 63 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Stanqards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as stated in paragraph 3 above nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 read with regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the _manner in which it is to be disclosed, or that it contains any material misstatement. Regd. Office: One International Center, Tower 3, 31st floor, Senapati Ba pat Marg, Elphinstone Road (West), Mumbai-400 013, Maharashtra, India. Deloitte Haskins & Sells LLP is registered with Limited Liability having LLP identification No: AAB-8737
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Deloitte Haskins & Sells LLP 5. We draw attention to Note 5 of the Statement, which refers to the orders dated August 31, 2016 (Penalty of Rs. 1,616.83 crores) and January 19, 2017 (Penalty of Rs. 68.30 crores) of the Competition Commission of India ('CCI') against which the Company (including the erstwhile UltraTech Nathdwara Cement Limited) had filed appeals. Upon the National Company Law Appellate Tribunal ("NCLAT") disallowing its appeals against the CCI order dated August 31, 2016, the Company has filed appeals before the Hon'ble Supreme Court of India, which has by its order dated October 5, 2018, granted a stay against the NCLAT order. The Company has deposited an amount of Rs. 161.68 crores equivalent to 10% of the penalty of Rs. 1,616.83 crores recorded as asset. The Company, backed by legal opinions, believes that it has a good case in both the matters basis which no provision has been recognised in the books of account. Our conclusion on the statement is not modified in respect of this matter. 6. The unaudited standalone financial results of the Company for the quarter ended June 30, 2026, quarter and six months ended September 30, 2025 included in the Statement, were jointly reviewed by us and KKC & Associates LLP whose report dated July 20, 2026 for quarter ended June 30, 2026 and October 18, 2025 for quarter and six months ended September 30, 2025 expressed an unmodified conclusions on those unaudited standalone financial results. The standalone financial results of the Company for the year ended March 31, 2026, included in this Statement were jointly audited by us and KKC & Associates LLP whose report dated April 27, 2026 expressed an unmodified opinion on those standalone financial results. Our conclusion on the statement is not modified in respect of this matter. Place: Mumbai Date: October 19, 2026 For Deloitte Haskins & Sells LLP Chartered Accountants (Firm's Registration No. 117366W/W-100018) Falguni Bhor Partner Membership No. 111787 UDIN: ~ 6 l \1 =Fe> :r ~f-N uJD i.u \ i 2--9
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Ultni111H:h , in Crores Statement of Unaudited Standalone Financial Results for the Three months and Six Months Ended 30/09/2026 Three Months Ended Six Months Ended Year Ended Sr. Particulars 30/09/2026 30/06/2026 30/09/2025 30/09/2026 30/09/2025 31/03/2026 No. (Unaudited) (Unaudited) (Audited) 1 Revenue from Operations 22,107.68 23,535.49 17,864.43 45,643.17 37,499.69 82,169.65 2 Other Income 84.57 121.16 72.64 205.73 227.02 376.43 3 Total Income (1+2) 22,192.25 23,656.65 17,937.07 45,848.90 37,726.71 82,546.08 4 Expenses - (a) Cost of Materials Consumed 3,533.57 3,504.37 2,779.89 7,037.94 5,707.16 12,332.29 (b) Purchases of Stock-in-Trade 1,876.96 1,714.87 879.35 3,591.83 1,671.60 4,461.11 (c) Changes in Inventories of Finished Goods, Stock-in--Trade end Work-in-Progress (376.20) (116.20) (56.10) (492.40) (191.84) 128.17 (d) Employee Benefits Expense 1,048.13 991.64 940.96 2,039.77 1,787.76 3,659.09 - (e) Finance Costs 494.43 396.28 396.20 890.71 766.02 1,630.00 (f) Depreciation and Amortisation Expense 1,067.84 1,051.48 1,001.78 2,119.32 1,976.98 4,055.08 (g) Power and Fuel Expense 4,831.93 4,761.90 3,866.47 9,593.83 8,159.66 17,135.81 (h) Freight and Forwarding Expense 4,734.19 5,156.80 3,926.41 9,890.99 8,322.52 18,466.19 --- (I) Other Expenses 3,154.95 2,942.89 2,757.24 6,097.84 5,070.82 10,547.76 --- Total Expenses 20,365.80 20,404.03 16,492.20 40,769.83 33,270.68 72,415.50 5 Profit before Exceptional Items and Tax Expense (3-4) 1,826.45 3,252.62 1,444.87 5,079.07 4,456.03 10,130.58 6 ExcepUonal Items : Provision for Impairment in value of Investment 23.03 -Statutory Impact of New Labour Codes (Refer Note 4) - - 80.76 7 Profit before Tax Expense (5-6) 1,826.45 3,252.62 1,444.87 5,079.07 4,456.03 10,026.79 8 Tax Expenses Current Tax Charye 388.91 738.33 308.64 1,127.24 990.65 2,252.82 - Defen-ed Tax Charge 105.76 117.17 72.38 222.93 169.74 368.72 - 9 Net Profit fo, the period (7-8) 1,331.78 2,397.12 1,063.85 3,728.90 3,295.64 7,405.25 10 Other Comprehensive Income I (Loss) for the period --- Items that will not be reclassified to profit or loss (net) (88.30) 14.63 142.74 (73.67) 134.57 (68.57) --- Income tax relating to items that will not be reclasslfied to profit or loss 12.62 (2.09) (20.41) 10.53 (19.24) 13.01 Items that will be reclassified to profit or loss (net) 19.43 50.19 43.53 69.62 31.64 (85.11) Income tax relating to items that will be reclassified to profit or loss (4.89) (12.63) (10.95) (17.52) (7.96) 21.42 Other Comprehensive Income/ (Loss) for the period (61.14) 50.10 154.91 (11.04) 139.01 (119.25) 11 Total Comprehensive Income for the period (9+10) 1,270.64 2,447.22 1,218.76 3,717.86 3,434.65 7,286.00 12 Paid-up Equity Share Capital (Face Value f 101- Per Shere) 294.68 294.68 294.68 294.68 294.68 294.68 13 Other Equity 74,368.69 14 Earnings per equity share (of, 10/- each) (Not Annualised): ---- (9) Basic (inf) 45.28 81.48 36.17 126.77 112.05 251.77 ---- (bl Diluted (in t) 45.26 81.44 36.14 126.69 111.96 251.61 Page: 115
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Notes: 1. Statement of Assets and Llabllltles: f In Crores As at Asat Sr. Particulars 30/09/2026 31/03/2026 No. (Unaudited) (Audited) (A) ASSETS Non-Current Assets - ,._ 1 ---Property, Plant and Equipment 69,519.21 66,166.03 - --- -Capital Work-in-Progress 6,633.61 7,871.47 - Goodwill 5,ea9.70 5,889.70 Other Intangible Assets 6,851.17 6,867.33 Intangible Assets under Development 485.89 466.40 Right of Use Assets 568.18 641.20 Financial Assets: Investments 13,610.26 13,825.24 Loans 7.22 7.66 - f--- - -Other Financial Assets 3,178.94 2,940.36 ---'-- Income Tax Assets (Net) 266.36 266.24 - Other Non-Current Assets 2,158.87 2,048.84 Sub Total Non-Current Assets 1,09,169.41 1,06,990.47 2 Current Assets Inventories 10,096.16 8,~ Financial Assets: ~--Investments 2,408.37 3,733.68 Trade Receivables 5,131.99 4,861.70 Cash and Cash Equivalents 20.95 36.76 _ Bank Balances other than Cash and Cash Equivalents 257.41 265.12 I-- -Loans 10.21 10.40 Other Financial Assets 1,190.90 1,473.80 Other Current Assets 2,323.39 ~ Sub Total Current Assets 21,439.38 20,834.53 Assets Held for Sale 4.85 16.25 TOT AL • ASSETS 1,30,613.64 1,27,841.25 (B) EQUITY AND LIABILITIES -(I) EQUITY --Equity Share Capital ---- 294.68 294.68 ---Other Equity - 70,891.20 74,368.69 (Ill LIABILITIES -1 Non-Current Llablll1Jes Financial Liabilities: Borrowings 16,511.76 13,807.87 . Lease Liabilities 583.80 664.92 Other Financial Liabilities 186.68 236.35 Provisions 783.84 741.48 - -Deferred Tax Liabilities (Net) 8,735.73 8,505.81 Sub Total • Non Current Llabflltles 26,801.81 23,956.43 2 Current Llabllltles -Financial Liabilities: Borrowings 8,244.61 5,808.97 -Lease Liabilities 197.72 197.77 -Trade Palables Total Outstanding Dues of Micro Enterprises and Small Enterprises 458.29 503.82 ~ Total Outstanding Dues of other than Micro Enterprises and Small Enterprises 10,003.75 8,271.61 Other Financial Liabilities 5,770.68 6,024.30 - Other Current Liabilities 5,221.84 5,741.07 . Provisions 218.40 315.02 Current Tax Liabilities (Net) 2,510.66 2,358.89 Sub Total· Current Llabllltles 32,625.95 29,221.45 TOTAL• EQUITY AND LIABILITIES 1,30,613.64 1,27,841.25 _ e_
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2. Statement at Casll Flows: , in Crores Six Montlls Ended Sr. Particulars 30/09/2026 30/09/2025 No (Unaudited) (A) ~ ow from Operating Activities: Praftt Before tax 5,079.07 4,456.03 Adjustments for: - -Depreciation and Amortisation Expense 2,119.32 1,976.98 Gain on Fair Valuation of Investments (18.56) (60.431 Compensation Expenses under Employees Stock Options Scheme 27.12 21.79 Allowances for Credit Losses on Advances/ Debts (net) (0.111 6.49 -Bad Debts Written-off 3.10 0.96 ~ I- Excess Provision/ Unclaimed Liabilities written back (net) (83.22) (59.25) Interest and Dividend Income (112.61) (97.87) Finance Costs 890.71 766.02 Unrealised Foreign Exchange (Gain)/ Loss (19.55) 3.86 Loss on Sale of Property, Plant and Equipment (net) 0.52 1.06 Profit on Sale of Current and Non-Current Investments (net} (63.62) (59.43) 7 822.17 6 956.21 Movements in working capital: Increase/ (Decrease) in Trade payables and other Llabilities 1,421.15 (699.83) -(Decrease)/ Increase in Provisions (2.08) 12.41 Increase in Trade receivables (273.29) (108.23) --- (1,713.69) -- ~se} in Inventories (791.09) (Increase)/ Decrease in Financial and Other Assets • (208.96) 113.11 ---Cash generated from Operations 7,045.30 5,482.58 Taxes paid (net of refunds) (975.59) (37.49) Net Cash aenerated from Ooeratina Activities (A) 6,069.71 5,445.09 (B) Cash Flow from Investing Activities: Purchase of Property, Plant and Equipment (4,923.71) (4,720.36) Proceeds from Sale at Property, Plant and Equipment 32.35 20.67 Payment for Cost of transfer of Assets (27.50) Purchase of Liquid Investment (net) (256.67) ~ Purchase of Investments (2,429.43) (2,680.57) Proceeds from Sale of Investments 4,134.89 3,375.63 RedemP-_ti~ of Non-Current Fixed Deoa.c:.lts with Bank and Others 100.00 50.00 Redemption I (Investment) in Other Bank deposits 207.70 ~ ) Proceeds from Sale of Shares in a Subsidiary --- 715.29 Investment in Subsidiaries I Joint Venture and Associates -- (50.83) (732!) Investment in Other Non-Current Equity Investments (49.16) (47.74) -Inter Corporate Deposit given to Subsidiary - -- ~ Dividend Received 0.37 3.78 ~ - Interest Received 160.24 85.98 Net Cash used In Investin g Activities (B) (3,101.75) (3,519.59) -(C) Cash Flow from Financing ActMUes: Purchase of Treasury Shares (191.09) (119.34) Proceeds from Issue of Treasury Shares 26.61 16.90 Repayment of Non-Current Borrowings (967.24)_ (101.92) Proceeds from Non-Current Borrowings 5,002.57 Proceeds from Current Borrowings (net) -- 1,014.18 1,006.78 Repayment of Principal tO"Nards Lease Liabilities - (100.08) (90,~ Interest Paid on Lease Liabilities (24.13) (27.311 - Interest Paid (705.56) _ (~ Dividend Paid (7,039.03) (2,264.18) Net Cash used In Financin g Activities ICl (2,983.77) (2,187.97) -(D) Net Decrease In Cash and Cash Equivalents (A• B • C) (15.81) (262.47) (E) Cash and Casll Equivalents at tile beginning at tile period 36.76 311.92 (F) Cash and Casll Equivalents at tile end of tile period (D • E) 20.95 49.45 Page : 315
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3. Addltlonal disclosures as per Clause 52 (4) and 54 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015: Three Months Ended Six Months Ended Year Ended Sr. 30/09/2026 30/~/2026 30/09/2025 30/09/2026 30/09/2025 31/03/2026 No. Particulars {Unaudited) (Unaudited) {Audited) (a) Debenture Redemption Reserve (' In Crores) 37.50 ~ 37.50 37.50 ---(b) Securities Premium (' in Crores) 11,314.45 11,311.88 11,311.88 11,314.45 11,311.88 11,311.88 -(c) Net Wor1h (' In Crores) 71,185.88 77,127.12 70,752.06 71,185.88 70,752.06 74,663.37 {d) Net Profit after Tax (f in Crores) 1,331.78 2,397.12 1,063.85 3,728.90 3,295.64 7,405.25 -(e) Basic Earnings per Share (Not annualisedl 45.28 81.48 36.17 126.77 112.05 251.77 {I) DIiuted Earnings per Share (Not annualised) 45.26 81.44 36.14 126.69 111.96 251.61 --- {g) Debt-Equity ratio (In times) 0.35 0.25 0.29 0.35 0.29 0.26 IIINon-Current Borrowings + Current Borrowlnasl/Equlty) - - Long term Debt to WO<ldng Capital (In times) {h) !(Non-Current Borrowings+ Current Maturities of Long Term Debt)/ Net (6.43) (10.65) (5.70) (6.43) (5.70) (5.74) WO<ldng Capital excl. Current Borrowings] - (I) Total Debts to Total Assets Ratio {In times) l.tf!'!_on-Current Borrowlnas + Current Borrowlngsl/Total Assets• 0.19 0.15 0.17 0.19 0.17 0.15 Debt Service Coverage Ratio (In times) [(Net Profit for the period + Finance Costs + Depreciation and Amortisation U) Expense+ Loss/(Galn) on Sale of Property, Plant and EqulpmentV(Gross 1.93 7.47 5.19 3.34 6.64 5.78 Interest+ Lease Payment+ Repayment of Long term debt excluding pre- payments))- Not Annualised ,-.. - - Interest Service Coverage Ratio (In tlmesl (k) [(Net Profit for the period + Finance Costs + Depreciation and Amortisation 6.17 8.53 6.47 7.32 7.96 8.32 Expense + Loss/(Galn) on Sale of Property, Plant and Equlpment)/Gross Interest]• Not Annualised - (II Current Ratio (In tlmesl 0.88 0.94 (Current Assets/Current Llabllltles excl. Current Borrowlngsl 0.89 0.88 0.89 0.89 -(m) Bad debts to Account receivable ratio fin%) 0.11% 0.02% (Bad Debts/Average Trade Receivable}- Not Annualised 0.01% 0.12% 0.04% 0.11% (nl Current llablilty ratio (In times) !(Current LlabllHles excl. Current Borrowings/Total Llabllltlesl 0.41 0.46 0.42 0.41 0.42 0.44 (o) Debtors Turnover (In times) 17.20 18.88 15.64 18.10 16.72 17.55 (Sales of Products and Services/Average Trade Receivable}- Annualised (p) Inventory Turnover (In times) 8.77 10.24 {Sales of Products and Services/Average lnventOf}'}- Annualised 7.64 9.79 8.26 9.56 -- Operating Margin (In %) (qi [(Profit before Exceptional Hem and Tax + Depreciation and Amortisation 15% 20% 16% 17% 19% 19'.4 expense + Finance Costs (·) Other lncorneVSales of Products and Services] (r) Net Profit Margin (In %) 6% 10% 6% 8% 9% 9% (Net Profit for the period/Sales of Products and Services) - -- Security Coverage Ratio on Secured Non- Convertible Debentures (NCDsl (In (s) times) [Total Assets pledged for secured NCDs/ Outstanding Balance of NA 14.59 13.83 NA 13.83 14.39 secured NCDs) Pa :4/5
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4. During the year ended 31/03/2026, the Government of India notifled the Code on Wages, 2019, the lndustrtal Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working CondHlons Code, 2020 (collectively , the "Labour Codes"), consolidating 29 existing labour laws. Among other changes, the Labour Codes Introduced a uniform definition of wages and enhanced leave-related benefits . The Ministry of Labour & Employment Issued draft Central Rules and FAQs to lacllHate assessment of the resuHlng flnanclal Impact. In accordance wHh guidance Issued by the Institute of Chartered Accountants of India and based on an actuarial valuation, the Company recognised f 80. 76 Crores as the statutory Impact of the Labour Codes on additional gratuity llablHty and compensated absences. This amount, classified as past service cost arising from the revised deflnltlon of wages, was presented under Exceptional Items In the Statement of ProfH and Loss for the year ended 31/03/2026. 5. The Company filed appeals against the Compeffllon Commission of India ("CCI") orders dated 31/08/2016 (Penalty of r 1,616.83 Crores) and 19/01/2017 (PenaHy of, 68.30 Crores). After the National Company Law Appellate Tribunal ("NCLAT") dismissed the appeal against the CCI order dated 31/08/2016, the Company appealed to the Hon'ble Supreme Court, which, by Hs order dated 05/10/2018, stayed the NCLAT order . The Company has deposHed an amount of r 161.68 Crores, equivalent to 10% of the penalty off 1,616.83 Crores. Based on legal opinions, the Company believes It has a strong case and has therefore not recognised any provision In the results. 6. The Company operates exclusively In the single segment of manufacturing, marketing, and distribution of bulldlng materials and providing complete building solutions and support services. 7. The above results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 19/10/2026. Mumbai Date: 19/10/2026 UHraTech Cement LlmHed Registered Office: 2nd Floor, 'B' Wing, Ahura Centre, Mahakali Caves Road, Andheri (E), Mumbai • 400093 Tel: 022 - 66917800; Fax: 022 - 66928109; Website: www.ultratechcemenlcom; CIN: L26940MH2000PLC128420 An Aditya Birld Group Company For and on behalf of the Board of Directors K.C. Jhanwar Managing Director Pa . 515
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Mumbai, 19 October 2026 PRESS RELEASE UltraTech delivers strong Q2 FY27 performance: Net Sales up 18.9%, PAT up 21.3%, domestic volumes up 13.8% Capacity expansion, a broader Building Solutions portfolio and steady progress on sustainability strengthen UltraTech’s position Financial Results: Q2 FY27 (Rs. in crores) Particulars Consolidated Q2 FY27 Q2 FY26 Net Sales 23,024 19,371 PBIDT 3,832 3,268 PAT 1,501 1,238 UltraTech Cement Limited, an Aditya Birla Group company, today announced its financial results for the quarter ended 30 September 2026. FINANCIALS The results demonstrate the stability of UltraTech’s earnings, with revenue, operating profit and net profit all growing by double digits. Consolidated Net Sales for the quarter rose 1 8.9% year-on-year to Rs. 23,024 crore, from Rs. 19,371 crore in Q2 FY26. Profit before interest, depreciation and tax (PBIDT) increased 17.3% to Rs. 3,832 crore, from Rs. 3,268 crore. Profit after tax (PAT) grew 21. 3% to Rs. 1,501 crore, from Rs. 1,238 crore. OPERATIONS UltraTech performed well despite headwinds on account of a monsoon -affected quarter and the ongoing west Asia crisis . Domestic grey cement sales volumes rose robust 13.8% to 35.94 million tonnes, from 31.58 million tonnes in Q2 FY26, supported by disciplined execution, a wider market footprint, cost optimisation and a sharper focus on premium products. Capacity utilisation jumped to 71% from 66% over the same period last year. Higher volumes and improved profitability strengthened UltraTech’s position in the market.
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During the quarter, UltraTech launched Ultravolt, its wires and cables business, adding a new category to its Building Products portfolio. The business is building a strong distribution network as part of its Pan India strategy. A state-of-the-art manufacturing facility has been commissioned at Jhagadia, Gujarat . The overall planned capacity, entailing the consumption of 78000 mt of copper and 24000 mt of Aluminium, already positions the Company as the second largest player in terms of capacity in the housing wires segment. The launch has received an overwhelming market response. The brand h as garnered strong endorsement from retailers, electricians and industry influencers for its quality, safety and performance-focused product portfolio. MANUFACTURING CAPACITY UltraTech continued to strengthen its manufacturing presence in the cement industry through capacity additions, debottlenecking and operational excellence programmes. During the quarter, the Company commissioned 3.6 mtpa greenfield integrated capacity at Petnikota, Andhra Pradesh, and added 1.0 mtpa through debottlenecking at its existing cement plants at Visakhapatnam, Patratu and Nathdwara. As of 30 September 2026, the Company’s consolidated domestic grey cement capacity stood at 204.7 mtpa. Including 5.4 mtpa of overseas capacity, its global grey cement capacity stood at 210.1 mtpa. The Company is on track with its organic growth capex programme to reach a capacity of 240+ mtpa by March 2028. SUSTAINABILITY Sustainability remains central to UltraTech’s growth strategy. During the quarter, the Company added 117 mw renewable energy and 10 mw Waste Heat Recovery System (WHRS) capacity, raising the share of green power in its energy mix. At the end of this quarter, installed WHRS capacity stood at 444 MW and renewable power capacity at 1,580 MW. Green power, comprising WHRS and renewable energy, accounted for 48% of the Company’s power mix for the quarter, giving the Company a unique position with 2 GW of green energy capacity for captive use. During the quarter, the Company joined the Leadership Group for Industry Transition (LeadIT), an initiative launched by India and Sweden to accelerate decarbonisation of heavy industries. ******* About UltraTech Cement Limited UltraTech Cement Limited is the cement flagship company of the Aditya Birla Group. A USD 10 billion building solutions company, UltraTech is the largest cement company globally by sales volume outside of China. The Company has a total Grey Cement capacity of 210.1 MTPA and White Cement/Putty capacity of 3.5 MTPA. It is a signatory to the GCCA Climate Ambition 2050 and has committed to the Net Zero Concrete roadmap announced by GCCA. UltraTech Cement Limited CIN: L26940MH2000PLC128420 Regd. Office: Ahura Centre, B-Wing, 2nd Floor, Mahakali Caves Road, Andheri (East), Mumbai 400093 Tel.: 022 66917800 | Website: www.ultratechcement.com / www.adityabirla.com