Ambuja Cements Ltd.Record Volume & PAT +258% on Cost Recovery Path

Ambuja Cements delivered its best-ever quarterly performance in Q3 FY26, reporting 18.9 million tonnes of cement sales volume — up 17% year-on-year — growing at twice the industry average.

Normalized revenue reached a record ₹10,277 crores (+20% YoY), while PAT surged 258% to ₹378 crores and operating EBITDA rose 53% to ₹1,353 crores. EBITDA per tonne improved 31% to ₹718. Despite a one-off cost spike to ₹4,500/tonne in Q3 — driven by brand transition, asset overhauls, and pre-poned maintenance worth approximately ₹150/tonne — the December monthly exit rate already fell below ₹4,000/tonne, validating management's cost reduction roadmap to ₹3,650/tonne by March 2028.

The proposed amalgamation of ACC and Orient Cement with Ambuja forms a unified One Cement Platform targeting 155 million tonnes by March 2028. Premium cement reached 35% of trade sales, growing 31% YoY. The company remains debt-free with net worth of ₹69,854 crores and top credit ratings. The trade channel mix is actively shifting towards 70%/30% trade/non-trade, protecting realization premiums against peers.