Ambuja Cements Ltd.
AMBUJACEMCommodities filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
14 transcript(s)/analyst meet(s) served; 1 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 14 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20230213 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230512 | 2023-03-31 | yes | |
| COVER_LETTER | 20230809 | 2023-06-30 | no | |
| TRANSCRIPT | 20231106 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240507 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240624 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240807 | 2024-06-30 | yes | |
| TRANSCRIPT | 20250205 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250506 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250806 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251108 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260204 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260510 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260803 | 2026-06-30 | yes |
AMBUJACEM
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 384.10 |
| 52-week range | 381.05 – 582.65 |
| Return 1M | -7.02% |
| Return 3M | -9.36% |
| Return 1Y | -34.08% |
| Return 3Y | -9.17% |
| Return 5Y | -6.48% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 9,500.00 |
| Other income | 169.00 |
| Total income | 9,669.00 |
| Cost of materials consumed | 1,526.00 |
| Purchases of stock-in-trade | 75.00 |
| Changes in inventories | -212.00 |
| Employee benefit expense | 387.00 |
| Finance costs | 57.00 |
Ownership — 2026-06-30, and the change from 2026-04-10
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.67 | 0.00 |
| institutions foreign | 0.06 | -0.00 |
| institutions domestic | 0.20 | -0.00 |
| mutual funds | 0.09 | 0.00 |
| public | 0.33 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| COVER_LETTER | 2023-06-30 | 1 |
| TRANSCRIPT | 2026-06-30 | 13 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-03-31 | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 7,900.00 | 7,143.00 | 7,907.00 | 7,966.00 | 8,713.00 | 7,424.00 | 8,129.00 | 8,894.00 | 8,311.00 | 7,516.00 | 9,329.00 | 10,289.00 | 9,174.00 | 10,277.00 | 10,915.00 | 9,500.00 |
| Other income | 90.00 | 102.00 | 132.00 | 284.00 | 263.00 | 476.00 | 194.00 | 233.00 | 355.00 | 374.00 | 1,352.00 | 256.00 | 257.00 | 87.00 | 234.00 | 169.00 |
| Total income | 7,990.00 | 7,245.00 | 8,039.00 | 8,250.00 | 8,976.00 | 7,900.00 | 8,322.00 | 9,127.00 | 8,666.00 | 7,890.00 | 10,681.00 | 10,545.00 | 9,432.00 | 10,364.00 | 11,149.00 | 9,669.00 |
| Cost of materials consumed | 903.00 | 902.00 | 916.00 | 1,034.00 | 1,142.00 | 995.00 | 1,044.00 | 1,141.00 | 1,419.00 | 1,279.00 | 1,431.00 | 1,536.00 | 1,608.00 | 1,742.00 | 1,627.00 | 1,526.00 |
| Purchases of stock-in-trade | 92.00 | 104.00 | 96.00 | 88.00 | 58.00 | 73.00 | 183.00 | 264.00 | 282.00 | 138.00 | 229.00 | 117.00 | 81.00 | 248.00 | 163.00 | 75.00 |
| Changes in inventories | 16.00 | -353.00 | 279.00 | 282.00 | -86.00 | -35.00 | -37.00 | 182.00 | -124.00 | 3.00 | 126.00 | -129.00 | -381.00 | -84.00 | 215.00 | -212.00 |
| Employee benefit expense | 350.00 | 367.00 | 367.00 | 387.00 | 378.00 | 341.00 | 320.00 | 314.00 | 317.00 | 349.00 | 382.00 | 418.00 | 405.00 | 384.00 | 396.00 | 387.00 |
| Finance costs | 32.00 | 41.00 | 45.00 | 39.00 | 52.00 | 61.00 | 70.00 | 93.00 | 68.00 | 67.00 | 67.00 | 67.00 | 77.00 | 59.00 | 21.00 | 57.00 |
| Depreciation and amortisation | 306.00 | 331.00 | 337.00 | 352.00 | 372.00 | 381.00 | 418.00 | 453.00 | 467.00 | 552.00 | 664.00 | 862.00 | 885.00 | 959.00 | 1,053.00 | 834.00 |
| Other expenses | 5,114.00 | 5,788.00 | 5,240.00 | 4,936.00 | 5,554.00 | 4,748.00 | 4,887.00 | 5,295.00 | 5,137.00 | 4,636.00 | 5,448.00 | 6,386.00 | 5,700.00 | 6,635.00 | 7,051.00 | 6,135.00 |
| Total expenses | 6,813.00 | 7,180.00 | 7,281.00 | 7,119.00 | 7,470.00 | 6,564.00 | 6,885.00 | 7,741.00 | 7,567.00 | 7,023.00 | 8,348.00 | 9,257.00 | 8,376.00 | 9,941.00 | 10,525.00 | 8,802.00 |
| Profit before exceptional items and tax | 1,177.00 | 65.00 | 758.00 | 1,132.00 | 1,506.00 | 1,336.00 | 1,438.00 | 1,386.00 | 1,099.00 | 867.00 | 2,333.00 | 1,288.00 | 1,056.00 | 423.00 | 624.00 | 867.00 |
| Exceptional items | 0.00 | -31.00 | -140.00 | -147.00 | 0.00 | 0.00 | 0.00 | 212.00 | 0.00 | -156.00 | 0.00 | 40.00 | -223.00 | -15.00 | -103.00 | -24.00 |
| Profit before tax | 1,177.00 | 33.00 | 617.00 | 985.00 | 1,506.00 | 1,336.00 | 1,438.00 | 1,598.00 | 1,099.00 | 710.00 | 2,333.00 | 1,328.00 | 833.00 | 407.00 | 522.00 | 843.00 |
| Current tax | 277.00 | -9.00 | 118.00 | 249.00 | 358.00 | 328.00 | 364.00 | -21.00 | 309.00 | 143.00 | -302.00 | 347.00 | -1,469.00 | 38.00 | -390.00 | 75.00 |
| Deferred tax | 50.00 | -4.00 | 18.00 | -23.00 | 18.00 | 24.00 | -5.00 | 96.00 | 4.00 | 97.00 | 18.00 | 16.00 | 4.00 | 7.00 | -939.00 | 113.00 |
| Tax expense | 327.00 | -13.00 | 136.00 | 226.00 | 376.00 | 352.00 | 359.00 | 75.00 | 313.00 | 240.00 | -284.00 | 363.00 | -1,465.00 | 45.00 | -1,329.00 | 188.00 |
| Profit for the period | 856.00 | 51.00 | 488.00 | 763.00 | 1,135.00 | 987.00 | 1,090.00 | 1,526.00 | 790.00 | 473.00 | 2,620.00 | 970.00 | 2,302.00 | 367.00 | 1,857.00 | 660.00 |
| Profit attributable to owners | 659.00 | 93.00 | 434.00 | 645.00 | — | 793.00 | — | 1,055.00 | 646.00 | 456.00 | 2,115.00 | 788.00 | 1,766.00 | 204.00 | 1,830.00 | 577.00 |
| Profit attributable to non-controlling interests | 198.00 | -42.00 | 53.00 | 118.00 | — | 194.00 | — | 471.00 | 143.00 | 17.00 | 505.00 | 182.00 | 537.00 | 163.00 | 27.00 | 83.00 |
| Other comprehensive income | 14.00 | -0.00 | -0.00 | 12.00 | -2.00 | 5.00 | -2.00 | 30.00 | -2.00 | -23.00 | -1.00 | -5.00 | 42.00 | -5.00 | 41.00 | 1.00 |
| Total comprehensive income | 871.00 | 51.00 | 487.00 | 776.00 | 1,133.00 | 992.00 | 1,088.00 | 1,555.00 | 787.00 | 450.00 | 2,619.00 | 965.00 | 2,345.00 | 362.00 | 1,899.00 | 661.00 |
| Earnings per share, basic | 3.32 | 0.47 | 2.19 | 3.25 | 4.56 | 3.99 | 4.14 | 5.31 | 2.68 | 1.85 | 8.59 | 3.20 | 7.15 | 0.82 | 7.41 | 2.32 |
| Earnings per share, diluted | 3.32 | 0.47 | 2.02 | 3.08 | 4.31 | 3.74 | 3.86 | 4.79 | 2.65 | 1.85 | 8.59 | 3.20 | 7.15 | 0.82 | 7.37 | 2.32 |
Annual results, as filed
| Line | 2018-12-31 | 2019-12-31 | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-03-31 | 2024-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 26,041.00 | 27,104.00 | 24,516.00 | 28,965.00 | 30,983.00 | 38,937.00 | 33,160.00 | 40,656.00 |
| Other income | 371.00 | 581.00 | 450.00 | 352.00 | 457.00 | 738.00 | 1,166.00 | 834.00 |
| Total income | 26,412.00 | 27,684.00 | 24,966.00 | 29,318.00 | 31,440.00 | 39,675.00 | 34,326.00 | 41,490.00 |
| Cost of materials consumed | 3,346.00 | 3,231.00 | 2,533.00 | 3,183.00 | 3,716.00 | 4,750.00 | 4,322.00 | 6,512.00 |
| Purchases of stock-in-trade | 89.00 | 309.00 | 335.00 | 309.00 | 393.00 | 481.00 | 577.00 | 609.00 |
| Changes in inventories | -202.00 | 144.00 | 256.00 | -530.00 | -401.00 | -120.00 | 24.00 | -378.00 |
| Employee benefit expense | 1,524.00 | 1,571.00 | 1,540.00 | 1,529.00 | 1,469.00 | 1,857.00 | 1,353.00 | 1,603.00 |
| Finance costs | 170.00 | 170.00 | 140.00 | 146.00 | 158.00 | 195.00 | 276.00 | 224.00 |
| Depreciation and amortisation | 1,154.00 | 1,153.00 | 1,162.00 | 1,152.00 | 1,292.00 | 1,645.00 | 1,623.00 | 3,570.00 |
| Other expenses | 17,272.00 | 17,252.00 | 14,846.00 | 18,264.00 | 21,924.00 | 26,847.00 | 20,485.00 | 25,772.00 |
| Total expenses | 23,355.00 | 23,829.00 | 20,813.00 | 24,053.00 | 28,551.00 | 35,654.00 | 28,660.00 | 37,911.00 |
| Profit before exceptional items and tax | 3,058.00 | 3,855.00 | 4,153.00 | 5,265.00 | 2,889.00 | 4,021.00 | 5,666.00 | 3,579.00 |
| Exceptional items | -152.00 | 0.00 | -176.00 | -120.00 | -172.00 | -319.00 | 212.00 | -301.00 |
| Profit before tax | 2,906.00 | 3,855.00 | 3,977.00 | 5,144.00 | 2,717.00 | 3,701.00 | 5,878.00 | 3,279.00 |
| Current tax | 64.00 | 1,265.00 | 1,200.00 | 1,327.00 | 522.00 | 771.00 | 1,029.00 | -1,474.00 |
| Deferred tax | -118.00 | -173.00 | -316.00 | 126.00 | -43.00 | -65.00 | 133.00 | -865.00 |
| Tax expense | -54.00 | 1,092.00 | 885.00 | 1,453.00 | 480.00 | 705.00 | 1,163.00 | -2,338.00 |
| Profit for the period | 2,973.00 | 2,783.00 | 3,107.00 | 3,711.00 | 2,261.00 | 3,024.00 | 4,738.00 | 5,637.00 |
| Profit attributable to owners | 2,177.00 | 2,095.00 | 2,365.00 | 2,780.00 | 1,938.00 | 2,583.00 | 3,577.00 | 4,728.00 |
| Profit attributable to non-controlling interests | 795.00 | 688.00 | 741.00 | 931.00 | 323.00 | 441.00 | 1,161.00 | 909.00 |
| Other comprehensive income | -3.00 | -54.00 | -22.00 | 11.00 | 16.00 | 29.00 | 30.00 | 74.00 |
| Total comprehensive income | 2,970.00 | 2,729.00 | 3,085.00 | 3,722.00 | 2,277.00 | 3,053.00 | 4,768.00 | 5,711.00 |
| Earnings per share, basic | 10.97 | 10.55 | 11.91 | 14.00 | 9.76 | 13.01 | 17.99 | 19.15 |
| Earnings per share, diluted | 10.96 | 10.55 | 11.91 | 14.00 | 9.56 | 12.64 | 16.67 | 19.05 |
Balance sheet, as filed
| Line | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|
| Total assets | 51,721.00 | 53,380.00 | 65,298.00 | 76,572.00 | 88,710.00 | 89,607.00 |
| Non-current assets | 32,472.00 | 31,349.00 | 39,195.00 | 53,981.00 | 74,054.00 | 75,891.00 |
| Current assets | 19,247.00 | 22,029.00 | 26,081.00 | 22,568.00 | 14,650.00 | 13,716.00 |
| Property, plant and equipment | 15,318.00 | 16,666.00 | 20,715.00 | 24,101.00 | 33,526.00 | 35,284.00 |
| Capital work-in-progress | 2,526.00 | 2,184.00 | 2,658.00 | 6,472.00 | 10,473.00 | 9,085.00 |
| Goodwill | 7,870.00 | 7,870.00 | 8,219.00 | 10,856.00 | 12,862.00 | 13,546.00 |
| Other intangible assets | 364.00 | 377.00 | 3,454.00 | 5,901.00 | 10,040.00 | 9,433.00 |
| Inventories | 3,273.00 | 3,600.00 | 3,609.00 | 4,172.00 | 5,397.00 | 4,552.00 |
| Trade receivables | 1,154.00 | 1,746.00 | 1,213.00 | 1,889.00 | 1,858.00 | 1,868.00 |
| Cash and cash equivalents | 544.00 | 1,137.00 | 3,007.00 | 2,269.00 | 366.00 | 892.00 |
| Total equity and liabilities | 51,721.00 | 53,380.00 | 65,298.00 | 76,572.00 | 88,710.00 | 89,607.00 |
| Equity | 38,757.00 | 40,304.00 | 50,846.00 | 59,916.00 | 69,493.00 | 71,846.00 |
| Equity share capital | 397.00 | 397.00 | 440.00 | 493.00 | 494.00 | 494.00 |
| Other equity | 31,301.00 | 32,510.00 | 41,016.00 | 49,883.00 | 55,752.00 | 58,853.00 |
| Total liabilities | 12,965.00 | 13,076.00 | 14,452.00 | 16,656.00 | 19,217.00 | 17,760.00 |
| Non-current liabilities | 1,451.00 | 1,598.00 | 2,323.00 | 3,346.00 | 5,570.00 | 4,664.00 |
| Current liabilities | 11,514.00 | 11,478.00 | 12,129.00 | 13,310.00 | 13,647.00 | 13,096.00 |
| Borrowings, non-current | 34.00 | 26.00 | 19.00 | 29.00 | 51.00 | 45.00 |
| Borrowings, current | 13.00 | 19.00 | 18.00 | 11.00 | 281.00 | 8.00 |
| Trade payables | 2,774.00 | 2,471.00 | 3,109.00 | 3,451.00 | 3,742.00 | 4,185.00 |
Cash flow, as filed
| Line | 2021-06-30 | 2021-12-31 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 1,625.00 | 5,309.00 | 735.00 | 2,242.00 | 5,646.00 | -1,884.00 | 1,444.00 | 5,362.00 |
| Net cash from investing activities | -724.00 | -2,007.00 | -14,481.00 | -811.00 | -8,950.00 | -6,380.00 | -5,075.00 | -7,935.00 |
| Net cash from financing activities | -454.00 | -516.00 | 2,931.00 | -839.00 | 5,689.00 | 5,792.00 | -1,098.00 | -1,629.00 |
| Purchase of property, plant and equipment | 825.00 | 2,334.00 | 4,232.00 | 1,607.00 | 4,482.00 | 4,545.00 | 3,561.00 | 6,344.00 |
| Net increase in cash | 447.00 | 2,786.00 | -10,815.00 | 593.00 | 2,384.00 | -2,472.00 | -4,729.00 | -4,203.00 |
| con:CFO.BEFORE_TAX | 1,779.00 | 5,957.00 | 1,473.00 | 3,230.00 | 6,561.00 | -1,638.00 | 1,633.00 | 5,079.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | -573.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 153.00 | 648.00 | 738.00 | 415.00 | 916.00 | 246.00 | 189.00 | -282.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,347.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 10.00 | 0.00 | 714.00 | 0.00 | 0.00 | 0.00 | 67.00 |
| con:PPE_DISPOSALS | 0.00 | 38.00 | 166.00 | 239.00 | 521.00 | 31.00 | 396.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 2,354.00 | 4,011.00 | 5,903.00 | 6,621.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-12-31 | 2024-03-28 | 2024-03-31 | 2024-04-17 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-04-10 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 63.19 | 66.74 | 66.74 | 70.33 | 70.33 | 67.57 | 67.57 | 67.57 | 67.57 | 0.68 | 0.68 | 0.68 | 0.67 | 0.67 |
| Domestic institutions | 15.83 | 14.43 | 14.48 | 12.94 | 13.26 | 15.19 | 16.62 | 17.30 | 18.70 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 |
| Mutual funds | — | — | — | — | — | — | — | — | 7.91 | 0.08 | 0.08 | 0.09 | 0.09 | 0.09 |
| Insurance companies | 7.81 | 7.07 | 7.10 | 6.39 | 6.43 | 6.75 | 6.68 | 7.09 | 8.39 | 0.09 | 0.09 | 0.09 | 0.09 | 0.08 |
| Foreign institutions | 11.88 | 11.11 | 11.09 | 9.90 | 9.59 | 10.61 | 9.14 | 8.60 | 7.44 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 |
| Government | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 36.81 | 33.26 | 33.26 | 29.67 | 29.67 | 32.43 | 32.43 | 32.43 | 32.43 | 0.32 | 0.32 | 0.32 | 0.33 | 0.33 |
| Non-institutional | 9.10 | 7.72 | 7.68 | 6.84 | 6.82 | 6.63 | 6.67 | 6.52 | 6.29 | 0.07 | 0.07 | 0.06 | 0.07 | 0.07 |
| Shares outstanding | 1985645229 | 2196336146 | 2196336146 | 2461783637 | 2461783637 | 2461783637 | 2461799546 | 2461799546 | 2461799546 | 2470499546 | 2470487089 | 2470483865 | 2483477573 | 2483465891 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Harmonia Trade and Investment Ltd (Refer Note 62) | Transaction with Holding Company | Any other transaction | 83,391,000,000.00 | 1 |
| Sanghi Industries Limited | Transactions with subsidiaries | Any other transaction, Inter-corporate deposit, Inte | 53,283,800,000.00 | 12 |
| ACC Limited | Transactions with subsidiaries | Any other transaction, Dividend received, Purchase o | 31,106,900,000.00 | 8 |
| Aditya Estates Private limited | Details of Transactions relating t | Any other transaction | 6,025,000,000.00 | 2 |
| Adani Enterprises Limited | Details of transactions relating t | Any other transaction, Purchase of goods or services | 4,927,500,000.00 | 8 |
| Adani Cement Industries Limited | Details of transactions relating t | Any other transaction, Purchase of goods or services | 2,707,000,000.00 | 9 |
| Adani Global Pte Limited | Details of Transactions relating t | Purchase of goods or services | 2,515,300,000.00 | 1 |
| Holderind Investment Limited | Transactions with holding company | Dividend paid | 2,506,300,000.00 | 1 |
| Adani Infra (India) Limited | Details of transactions relating t | Any other transaction, Purchase of goods or services | 2,151,100,000.00 | 7 |
| Adani Green Energy Limited | Details of transactions relating t | Any other transaction, Sale of goods or services | 2,008,300,000.00 | 4 |
| Ambuja Concrete North Private Limited | Transactions with subsidiaries | Any other transaction, Inter-corporate deposit, Inte | 1,997,200,000.00 | 6 |
| Ambuja Shipping Service Limited | Transactions with subsidiaries | Any other transaction, Purchase of goods or services | 1,735,500,000.00 | 2 |
| Adani New Industries Limited | Details of transactions relating t | Any other transaction, Sale of goods or services | 1,656,100,000.00 | 2 |
| Adani Global PTE Limited | Details of transactions relating t | Purchase of goods or services | 1,592,500,000.00 | 2 |
| Asian Fine Cement Private Limited | Transactions with Subsidiary Compa | Purchase of goods or services, Sale of goods or serv | 1,570,700,000.00 | 2 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-03 | Q1FY27 | AMBUJA CEMENTS LIMITED, LIMITED | Read the call |
| 2026-05-10 | Q4FY26 | Read the call | |
| 2026-02-04 | Q3FY26 | Read the call | |
| 2025-11-08 | Q2FY26 | Read the call | |
| 2025-08-06 | Q1FY26 | Read the call | |
| 2025-05-06 | Q4FY25 | Read the call | |
| 2025-02-05 | Q3FY25 | Read the call | |
| 2024-08-07 | Q1FY25 | Read the call | |
| 2024-06-24 | Q4FY24 | Read the call | |
| 2024-05-07 | Q4FY24 | Read the call | |
| 2023-11-06 | Q2FY24 | Read the call | |
| 2023-05-12 | Q4FY23 | Read the call | |
| 2023-02-13 | Q3FY23 | (CEMENT BUSINESS), AMBUJA CEMENTS, SERVICES | Read the call |
Some earlier announcements under this heading are covering letters only — no transcript was attached.
What they said about it, quarter by quarter
| Topic | Q2FY26 | Q3FY23 | Q3FY25 | Q3FY26 | Q4FY23 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | So, every passing quarter, we are seeing a good movement of clinker capacity additions also. | And as I mentioned, the trend continues to be positive on back of the increased CAPEX on the housing, on the infrastructure. | Securing major raw material at cost competitive prices and efficiency and productivity improvement capex will help further reduce cost by 8% to 10%. | Alongside this, we are unlocking an additional 15 million tons of debottlenecking capacity at lower capex cost. | Balance 50% goes in terms of our capex program, as well as the tax liabilities. | My first question is on your detail like on cost and capex timelines on a five-year basis. | Raw material costs, we have secured raw material at competitive prices and efficiency and productivity improvement. capex will further help in raw mat… | And some of these plants, especially of Penna, needed higher than expected time for maintenance capex and overall upkeep of the assets. |
| Capital allocation | In between June, there was this INR2,971 crores and there is this capital market event of acquisition of INR5,910 cr of Orient. | Very happy to address all of you on our first investor call post Adani Group's acquisition of ACC and Ambuja. | With Orient acquisition at advanced stage, the total capacity by Q4 FY '25 to hit 104 million tons. | And therefore primarily -- but if you look at -- obviously, you know that from March to June and from June to September, there has been this acquisiti… | Now, whether everything will be Brownfield or whether we'll also have one or two Greenfield opportunities and or, I'm not getting into that zone, but … | Number two, we also have a power plant close by where our group has already in advanced stages of acquisition. | With the completion of Orient acquisition, commissioning of grinding unit at Farakka and the debottlenecking of capacity at various plants, as I menti… | So is it fair to say that there is a reset in ambition kind of from the earlier kind of thought that was there at the time of the acquisition? |
| Costs | — | The raw material cost has come down 5% from Rs. | You will see that the raw material cost has gone up on account of purchase clinker. | Look at the raw material, like now fly ash and all with the group synergies, we will be benefiting on the fly ash. | And that's where the project becomes very, very smart project because it gives us raw material. | And given you and another large player have talked about cost-saving initiatives over the medium term. | But can you please help us understand the quantum of cost savings achieved during the year? | And some of the other issues like the raw material costs, which we could have improved in terms of the fly ash, but pending some of the railway infras… |
| Debt and cash | And just secondly, on the working capital, like your cash flow statement shows an increase of about INR2,000 crores in working capital in the 1H. | Ambuja Cements & ACC Limited February 08, 2023 Working capital remains a key focus area for us. | And likewise, the good thing is that at least these cash flows are now coming back to the balance sheet, which were lying somewhere, the working capit… | Tax refunds of the prior period, I think we have done a major efforts on that and unlocked the working capital. | So has there been any reclassification of the cash flow, if you could clarify that? | And it is all on from our operating cash flows is what we are targeting. | Then also, there has been a working capital deployment of INR1,300 crores, and this is absolutely to the third-party companies wherein, for example, a… | So your ACC's operating cash flows are negative, sharply negative for the year. |
| Demand | And there's also very good uptick in the demand in those clusters, for example, we are seeing a very healthy uptick of demand in the Western market wh… | On the industry level, the cement industry saw higher capacity production with a good pickup in demand during the quarter. | The improved consumption demand in housing and infrastructure segments and increased government spendings are poised to reverse the tepid 1.5% to 2% c… | Exit of trend of December was robust and with demand strengthening from early December and carrying into January also, I mentioned to you that even in… | So it will take some time to get this pipeline warmed up. | Is it fair to say that margins expansion will be led by cost control and cement prices may remain sluggish for longer despite a strong demand outlook? | On the industry side, trends, I remain positive as cement consumption grew almost 6.5% to 7% in Q4, and we are expecting that it will have a continued… | FY '26 was a year of resilience for the Indian cement sector marked by industry consolidation and the GST 2.0 reforms on one side, while the adverse a… |
| Guidance | — | And we expect this trend to continue in the coming quarters when we will see a full impact of our performance improvement levers. | Any idea over what time period can we expect these incentives? | We expect to reach 1,122 megawatts by FY '27, providing this long-term insulation in terms of the energy price volatility. | The guidance that we have given is for a console basis, both Ambuja-ACC taken together as a cement business, basically Ambuja console at 1,200 to 1,40… | So total 70,000 was in 7,000 in line with your guidance. | These graduates have been hired in a first-of-the-kind touchless hiring to eliminate any interview biasness and have been hired under the overall guid… | And here, my question is that if we are seeing some pressure on volumes because for FY '27, we have given a guidance of 80 million tonnes, which is ro… |
| Margin | In terms of, let us say, the operating leverage benefit will surely help you to get the benefit in the coming quarters. | This has helped us to improve the EBITDA margin, which has expanded by 8% from 6.1% to 14.4%. | With improvements mentioned on the cost front, EBITDA stood at INR1,712 crores at a margin of 18.4% and EBITDA per ton of INR1,038. | This marks the beginning of a unified One Cement Platform that will accelerate our growth trajectory, support EBITDA expansion, strengthen operational… | And second point on the EBITDA per ton improvement, in Ambuja standalone, if you look at it, it is quite healthy at INR265 per ton as per the presenta… | It is approximate 9% EBITDA margin for Sanghi. | With the improvements mentioned on the cost front, EBITDA stood at INR1,868 crores at an EBITDA margin of almost 19% and EBITDA per ton at INR1,001. | And on a normalized basis, the EBITDA of INR6,539 crores, up 31% at INR887 per metric ton, which is on a PMT basis, up 12% and the PAT of INR2,647 cro… |
| People | So, when it comes to utilization of Penna or Sanghi, for example, which are still lower as compared to our estimates, for example, and therefore, the … | — | The capacity utilization also of these two entities is still sub-40%. | This was supported by stronger market execution, improved availability across both trade and non-trade channels and higher base capacity utilization. | — | I think it's already running at 100% plus capacity utilization. | And Sanghi, if I understand, it's still -- utilization is still under 60% in the peak quarter like March, having acquired -- I think it's almost the f… | The newly acquired assets, particularly Sanghi and Penna, they witnessed lower utilization levels. |
| Pricing | And then secondly, as you sort of go upmarket, go more premium, how are you balancing pricing and volume? | And that is very much within the fair and arm's length pricing basis. | So, I was a bit surprised with that also because we know that there were price hikes in December, and January. | Pricing has entered January on firmer ground as we are seeing a similar uptick in price in January, along with double-digit volume growth. | — | Both of them are placed at the highest end, as we call it A or A plus pricing. | When our peers currently, I can name Dalmia Bharat, which has mostly capacity in the south where there has been more pricing issue. | And on the pricing, what has happened to offset these cost pressures, cement pricing? |
| Revenue growth | The Y-o-Y growth of 20% volume, for example, or even if I remove the acquired assets, the Y- on-Y growth becomes 11%, which outbeat the industry in al… | We have seen a healthy increase in our top line of around 11%, coupled with a good reduction in the overall cost. | While the past 27 months since we acquired the Holcim stake, that was somewhere in September '22, the growth was fuelled with acquisitions. | Cement demand growth was driven by infrastructure activity, sustained housing demand and a recovery in the rural construction after a favorable monsoo… | — | — | We have crossed the 100 million tons capacity, growth of nearly 50% in 30 months. | So in quarter 3 and quarter 4, where the volume growth was really strong, the management decided to take planned shutdowns, which resulted in higher c… |