UltraTech Firms Up 2-Point Plan

UltraTech Cement Ltd has two primary goals in FY26: to gain more market share and boost cost efficiencies. The firm, which has been on an acquisition spree, eyes double-digit like-to-like volume growth in FY26, ahead of the industry's estimated 7-8% growth.

- Harsha Jethmalani

UltraTech saw some demand weakness when FY26 began due to heatwaves and urban real estate slowdown. However, it expects demand to improve. Industry volume likely grew 4% year-on-year in FY25 and UltraTech did a tad better with mid-single-digit like-to-like growth.

Faster integration of India Cements Ltd and cement assets of Kesoram Industries Ltd may buoy volume growth prospects. UltraTech's total domestic grey cement capacity was 183.5 mt in FY25 and could be 210.5 mtpa by FY27. JM Financial Institutional Securities Ltd said out of the total grey cement capacity added by UltraTech in FY25, 62% was via inorganic route. JM Financial expects UltraTech to see 450 basis points rise in capacity market share to 27% by FY27.