Ambuja Cements Q4 FY26 profit jumps 78% to ₹1,830 crore

Key takeaway from the March-quarter results

Ambuja Cements, part of the Adani Group, reported a strong March-quarter performance for FY26, led by higher revenue and record quarterly volumes. Consolidated net profit attributable to owners of the parent rose to ₹1,830 crore in Q4FY26 from ₹1,025 crore a year earlier, a 78% year-on-year increase. Revenue from operations came in at ₹10,892 crore, up 10% from ₹9,894 crore in the same quarter last year. The company also highlighted that it remained debt-free during the quarter. Alongside the results, the board recommended a dividend of ₹2 per equity share for FY2025-26, subject to shareholder approval.

Profit growth and what drove the quarter

Ambuja’s Q4FY26 profit performance stood out not only on a year-on-year basis but also sequentially. Profit after tax (PAT) surged 664% compared with ₹240 crore in Q3FY26. Revenue also improved quarter-on-quarter, rising 7% from ₹10,181 crore in Q3FY26. In its exchange filing, the company said it recorded the highest-ever sales volume in a quarter at 19.9 million tonnes, up 10% year-on-year. It also described the quarter’s revenue as the highest ever.

Operationally, the company reported operating EBITDA of ₹1,464 crore, with an EBITDA margin of 13.4%. On a per-tonne basis, PMT EBITDA stood at ₹735 for the quarter. The combination of higher volumes and steady margin delivery shaped the overall financial outcome. Even so, the company pointed to multiple cost headwinds that affected the quarter’s performance.

Dividend recommendation and key dates

Ambuja’s board recommended a dividend of ₹2 per equity share for the financial year 2025-26. The company set Friday, June 12, 2026 as the record date to determine shareholder eligibility. The dividend remains subject to shareholders’ approval. Ambuja said the dividend will be paid on or after July 1, 2026.

For investors, these dates matter because the record date determines which shareholders are entitled to receive the dividend. The payment date guidance provides a timeline for when the cash payout may be credited after the necessary approvals.

Record volumes and operating metrics

The company said Q4FY26 saw its highest-ever quarterly sales volume at 19.9 million tonnes. This was reported as a 10% year-on-year growth, indicating stronger offtake compared with the year-ago quarter. Ambuja also stated that revenue during the quarter was the highest ever, aligning with the volume growth.

On profitability at the operating level, EBITDA of ₹1,464 crore translated into a 13.4% margin. PMT EBITDA of ₹735 provides a unit economics view of earnings per tonne sold. Ambuja also reiterated that it continues to remain debt-free, which it positioned as support for operational stability.

Cost pressures flagged for H1 FY27

Ambuja said it faced cost pressures from fuel, diesel, packaging bag supply constraints, and rupee depreciation. According to the company, these factors impacted the quarter. It also stated that these pressures are expected to continue in the first half of FY2027.

This disclosure is relevant for tracking near-term operating performance, particularly for an energy-intensive business like cement where fuel and logistics costs can influence margins. The note on packaging bag supply constraints also signals operational friction points that may affect dispatch efficiency.

Full-year FY26 snapshot: volume, revenue, EBITDA, normalised PAT

Against this backdrop, Ambuja said it delivered a resilient performance for the year, including record annual volume and strong operating earnings. The company reported the highest-ever annual volume of 73.7 million tonnes. It reported annual revenue of ₹40,656 crore and annual EBITDA of ₹6,539 crore.

Ambuja also disclosed annual PMT EBITDA of ₹887 and a normalised PAT of ₹2,647 crore. The company’s management commentary reiterated a focus on stabilising new capacities, strengthening operating efficiency, and improving asset utilisation, supported by a debt-free balance sheet, strong liquidity, and the highest credit ratings.

Summary table: Q4FY26 performance versus comparable periods

Market impact: what the numbers signal for investors

The quarter’s year-on-year profit growth of 78% and the sequential PAT jump from ₹240 crore to ₹1,830 crore highlight a sharp improvement in earnings delivery. Revenue growth was more modest than profit growth, with a 10% year-on-year rise and 7% sequential rise, suggesting that profitability moved more than the topline in this quarter. The record quarterly volume of 19.9 million tonnes, alongside the annual record of 73.7 million tonnes, underlines the company’s scale and dispatch momentum.

At the same time, the company’s explicit reference to fuel, diesel, packaging bag supply constraints, and rupee depreciation provides a clear list of near-term cost variables to monitor. Investors typically track these inputs because they can affect EBITDA margins, especially when the company has already disclosed that pressures may persist into H1 FY2027. The debt-free status and dividend recommendation can also influence investor perception of balance sheet strength and cash return priorities.

Analysis: why the update matters for the cement sector

Ambuja’s results are notable for three reasons that are directly grounded in what the company reported. First, the company combined record quarterly volumes with a double-digit year-on-year revenue increase, indicating demand and execution strength in the period. Second, the EBITDA margin of 13.4% and PMT EBITDA of ₹735 offer a benchmark for operating performance in a quarter where management still cited cost pressures. Third, the management focus on stabilising new capacities and improving utilisation ties the operational narrative to the FY26 record annual volume of 73.7 million tonnes.

The company’s expectation that cost pressures could continue into H1 FY2027 keeps attention on margin resilience. Because the company has not provided quantified guidance on the magnitude of these pressures, the most concrete reference points remain the Q4FY26 reported margin and PMT EBITDA, and how these metrics evolve in upcoming quarters.

Conclusion

Ambuja Cements closed Q4FY26 with a sharp rise in profit to ₹1,830 crore on revenue of ₹10,892 crore, backed by record quarterly sales volume of 19.9 million tonnes and operating EBITDA of ₹1,464 crore. For FY26, the company reported record annual volume of 73.7 million tonnes, revenue of ₹40,656 crore, EBITDA of ₹6,539 crore and normalised PAT of ₹2,647 crore. The board’s recommended dividend of ₹2 per share, with June 12, 2026 as the record date and payment on or after July 1, 2026, sets the next key milestone, subject to shareholder approval. Management’s stated priorities remain capacity stabilisation, efficiency, and utilisation, while cost pressures are expected to continue into H1 FY2027.