UltraTech Cement Ltd. Q3 FY2026 results: revenue ₹21,830 crore, up 27.0% on the year
UltraTech Cement Ltd. (ULTRACEMCO) reported consolidated revenue from operations of ₹21,830 crore for Q3 FY2026, the quarter ended 31 December 2025, up 27.0% on the same quarter a year earlier. Profit after tax was ₹1,729 crore, up 17.4% on the year, and earnings per share ₹58.66. The figures are the company's own, from the un-audited results it filed with NSE on 24 January 2026.
The quarter, against the one before and a year earlier
| Line | Q3 FY2026 | Q2 FY2026 | Q3 FY2025 | Change on the year |
|---|---|---|---|---|
| Revenue from operations | 21,830 | 19,607 | 17,193 | +27.0% |
| Other income | 136 | 174 | 244 | -44.5% |
| Total income | 21,965 | 19,781 | 17,438 | +26.0% |
| Cost of materials consumed | 3,678 | 3,384 | 2,768 | +32.9% |
| Purchases of stock-in-trade | 594 | 579 | 636 | -6.5% |
| Changes in inventories | 131 | -72 | -108 | n/a |
| Employee benefit expense | 1,041 | 1,064 | 850 | +22.5% |
| Finance costs | 492 | 459 | 382 | +28.9% |
| Depreciation, depletion and amortisation | 1,182 | 1,148 | 917 | +28.9% |
| Other expenses | 2,838 | 2,986 | 10,160 | -72.1% |
| Total expenses | 19,589 | 18,120 | 15,605 | +25.5% |
| Profit before exceptional items and tax | 2,377 | 1,662 | 1,833 | +29.7% |
| Exceptional items | -89 | 0 | 0 | n/a |
| Profit before tax | 2,287 | 1,662 | 1,833 | +24.8% |
| Current tax | 422 | 331 | 278 | +52.0% |
| Deferred tax | 131 | 87 | 80 | +63.6% |
| Total tax | 554 | 418 | 358 | +54.6% |
| Profit after tax | 1,729 | 1,238 | 1,474 | +17.4% |
| Attributable to owners of the parent | 1,725 | 1,232 | 1,470 | +17.4% |
| Other comprehensive income | -86 | 252 | 79 | n/a |
| Total comprehensive income | 1,644 | 1,490 | 1,553 | +5.8% |
| EPS, basic | ₹58.66 | ₹41.87 | ₹50.99 | +15.0% |
| EPS, diluted | ₹58.62 | ₹41.84 | ₹50.94 | +15.1% |
₹ crore except per share.
Leverage, as the company states it
| Line | Q3 FY2026 | Q2 FY2026 | Q3 FY2025 | Change on the year |
|---|---|---|---|---|
| Debt to equity | 0.30 | 0.32 | 0.00 | |
| Debt service coverage | 5.53 | 3.32 | 0.06 | |
| Interest service coverage | 7.65 | 6.87 | 0.09 |
Debt to equity, debt service coverage and interest service coverage are the figures the company prints in its result statement under the listing regulations.
Quarterly results, the last 12 quarters
| Q2 FY2024 | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 16,012 | 16,740 | 20,419 | 18,070 | 15,635 | 17,193 | 23,063 | 21,275 | 19,607 | 21,830 | 25,799 | 24,648 |
| Expenses | 14,493 | 14,531 | 17,381 | 16,128 | 14,837 | 15,605 | 20,044 | 18,405 | 18,120 | 19,589 | 21,894 | 21,286 |
| Operating profit | 2,551 | 3,255 | 4,114 | 3,039 | 2,018 | 2,887 | 4,618 | 4,410 | 3,094 | 3,915 | 5,600 | 5,015 |
| OPM % | 16% | 19% | 20% | 17% | 13% | 17% | 20% | 21% | 16% | 18% | 22% | 20% |
| Other income | 167 | 140 | 136 | 166 | 221 | 244 | 102 | 180 | 174 | 136 | 88 | 130 |
| Interest | 234 | 262 | 261 | 256 | 317 | 382 | 475 | 433 | 459 | 492 | 487 | 453 |
| Depreciation | 798 | 783 | 815 | 843 | 904 | 917 | 1,125 | 1,107 | 1,148 | 1,182 | 1,208 | 1,201 |
| Exceptional items | 0 | 0 | -72 | 32 | 0 | 0 | -9 | -38 | 0 | -89 | -11 | -13 |
| Profit before tax | 1,686 | 2,349 | 3,101 | 2,139 | 1,018 | 1,833 | 3,112 | 3,012 | 1,662 | 2,287 | 3,982 | 3,479 |
| Tax % | 24% | 25% | 27% | 21% | 19% | 20% | 20% | 26% | 25% | 24% | 25% | 25% |
| Net profit | 1,280 | 1,775 | 2,259 | 1,695 | 825 | 1,474 | 2,475 | 2,221 | 1,238 | 1,729 | 3,000 | 2,604 |
| EPS in ₹ | ₹44.47 | ₹61.66 | ₹78.35 | ₹58.87 | ₹28.45 | ₹50.99 | ₹84.38 | ₹75.67 | ₹41.87 | ₹58.66 | ₹101.41 | ₹88.36 |
| Filing | NSE | NSE | NSE | NSE | NSE | NSE | Filing | Filing | Filing | Filing | Filing | Filing |
₹ crore except per share, consolidated, as filed with the exchange. Operating profit is sales less the expenses other than interest and depreciation, OPM is that over sales, and tax % is tax over profit before tax: arithmetic on the filed lines; everything else is as filed. Quarters before December 2024 are from the exchange's earlier results feed, which carries the filed lines without the filing itself; the column links to the exchange's page for the company.
Source
Un-audited consolidated results for the quarter ended 31 December 2025, filed with NSE on 24 January 2026: the result statement. All of UltraTech Cement Ltd.'s results: NSE company page.
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