Ambuja, UltraTech, JK Cement — Systematix' Top Stock Picks In Cement Pack; Q1 Results Preview

Cement Q1 Results Preview: Ultratech, Ambuja, JK Cement are the brokerages' top picks, however, with the recent surge in valuations will revise top picks post Q1 FY26 results.

Cement demand in Q1 FY26 was better on a YoY basis, primarily due to a low base caused by elections last year.

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Volume growth during the quarter for companies under Systematix' coverage is expected to be in the range of 6-7% YoY with strong performance expected from JK Cement and Ambuja at 11.5%/8.2% while Dalmia and Ultratech are likely to report slower growth at 5.4%/5.8%.

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Systematix Report

The industry is expected to grow by 6-7% in this fiscal, although the larger players, will account for nearly 60% of the total industry capacity. Near term outlook on the sector remains cautious due to monsoon led slowdown.

Pricing will depend on rainfall intensity in August-September 2025 and post monsoon demand revival. We remain upbeat on long term growth prospects of the sector on the back of strong underlying demand with economic impetus, government’s mammoth expansion plans and moderating input costs.

Ultratech, Ambuja and JK Cement are our top picks within the coverage universe. However, with the recent surge in valuations, we will revise our top picks post Q1 FY26 results.

Click on the attachment to read the full report:

Systematix Indian Cement Sector - 1QFY26 Result Preview.pdf
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Also Read: Indian Hospitality Q1 Results Preview — 'Buy' Lemon Tree, 'Reduce' EIH Lists Yes Securities Among Others

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