UltraTech Cement Q4 Results: Profit Rises 10%, Meets Estimates

UltraTech Cement Ltd.'s consolidated net profit rose in the fourth quarter of financial year 2025, meeting analysts' estimates.

The cement manufacturer's bottom line stood at Rs 2,482.04 crore in the quarter ended March 31, 2025, 10% higher as compared to Rs 2,258.12 crore clocked in the year-ago period, according to an exchange filing on Monday. Analysts tracked by Bloomberg had a consensus estimate of Rs 2,538 crore.

The board also recommended a dividend of Rs 77.5 per equity share for the year ended March 31, 2025, subject to the approval of the members at the ensuing Annual General Meeting.

UltraTech Q4 FY25 Highlights (Consolidated, YoY)

• Revenue rose 13% to Rs 23,063.32 crore versus Rs 20,418.94 crore (Bloomberg estimate: Rs 22,967.44 crore).

• Ebitda up 12.26% at Rs 4,618.44 crore vs Rs 4,113.92 crore (Est: 4615.92 crore)

• Margin at 20.02% vs 20.14% (Estimate: 21%).

• Net profit rose 10% to Rs 2,482.04 crore versus Rs 2,538.00 crore (Estimate: Rs 2,538 crore).

What Helped Earnings?

The company's top line growth was mainly driven by the double digit annual volume growth of 17% seen during the quarter to 41.02 million tonnes.

The high volume growth as well as reduction in key costs led to the company's Ebitda per tonne— an important metric in the cement space— rise 7% year-on-year and 32% sequentially to Rs 1,270 per tonne. The key reductions in costs were as follows:

• Logistics: Annual fall of 5%.

• Fuel: Annual decline of 16%.

• Power: Annual fall of 10%.

Capacity

The company's expansion program is progressing as per schedule, according to its Q4 press release. It commissioned capacity totalling 17.4 million tonnes per annum in FY25. This took the company's all India grey cement capacity to 183.36 MTPA, marking a 30.3% growth when compared to its capacity at the end of FY24.

As per the investor presentation of the company, UltraTech plans to add 12.4 MTPA and 14.7 MTPA of capacity in FY26 and FY27, respectively. If done on time, UltraTech Cement's domestic grey cement capacity will touch 210.5 MTPA by FY27 end.

Future Outlook

Going forward, UltraTech Cement expects sustainable volume growth of 7-8%. This demand will be driven by the government's focus on infrastructure and housing projects, along with rising rural and urban demand.

While the cement sector may face short-term challenges, the long-term outlook is indicating signs of improvement with stable demand likely to support growth, the company noted.