UltraTech Cement dividend 2026: 2,400% at ₹240/share

What UltraTech Cement announced

UltraTech Cement Limited, India’s largest cement maker and part of the Aditya Birla Group, announced a record dividend recommendation alongside its Q4 and full-year performance update. In a board meeting held on 27 April 2026, the company recommended a Special Dividend of 2,400% for the year ended 31 March 2026. The dividend translates to ₹240 per equity share with a face value of ₹10 each.

The total payout proposed by the company aggregates to ₹7,072.30 crore. The recommendation is subject to shareholder approval at the ensuing Annual General Meeting (AGM), as stated in the company’s BSE filing. The company also noted that the record date will be communicated in the coming days.

Dividend details: rate, face value, and approval process

UltraTech’s board recommended the dividend at ₹240 per share, which is described as the highest-ever dividend payout by the company in the provided information. As per market convention, investors typically need to hold the shares on or before the record date to be eligible for the dividend. UltraTech said the record date will be notified shortly.

The dividend recommendation will go to shareholders for approval at the AGM. Until that approval is obtained and the record date is announced, investors will watch for the company’s formal timetable and payment details.

Stock reaction: down in afternoon, marginally up on close

Despite the dividend headline, UltraTech Cement’s share price moved in a narrow band. The stock was reported trading about 1% lower at ₹11,887 in the afternoon session after the Q4 earnings update. On the BSE, the share price ended 0.02% higher at ₹12,013.2.

The day’s trading range included an intraday low of ₹11,873.30 and an intraday high of ₹12,235.00. UltraTech’s market capitalisation was reported at ₹3,54,003.98 crore.

Q4 FY26 snapshot: profit, revenue, and margins

UltraTech reported a consolidated profit after tax (PAT) of ₹2,983 crore for Q4 FY26, up 20.2% year-on-year. Consolidated revenue for the quarter rose 11.9% to ₹25,799 crore.

EBITDA for the quarter increased 21.3% to ₹5,600 crore. EBITDA margins expanded to 21.7% from 20% in the previous year, indicating improved operating profitability in the reported period.

Full-year milestones highlighted by the company

Alongside the dividend decision, UltraTech highlighted two operational and financial milestones. It said it crossed over ₹8,000 crore in consolidated PAT for the first time. It also noted that it surpassed 200 MTPA in domestic grey cement capacity.

These disclosures were presented as indicators of scale and profitability during FY26. The dividend recommendation, made in the same board meeting cycle, positions the payout as a key shareholder-return action following the year’s performance.

How this compares with the previous year’s dividend

The FY26 recommended dividend of ₹240 per share is sharply higher than the prior fiscal year’s total dividend payout of ₹77.50 per share (FY25), as cited in the provided information. FY25’s dividend was described as a record-high at the time, beating an earlier dividend of ₹70 per share.

For FY25, the total dividend payout amount was reported at ₹2,283.75 crore, and the record date was fixed as Friday, 25 July 2025, linked to the AGM process and eligibility determination.

Key numbers at a glance

Dividend policy context and payout discussion

The provided information notes that UltraTech’s official dividend distribution policy targets a payout ratio between 25% and 40% of its standalone Profit after Tax. Against that backdrop, the proposed dividend outflow of ₹7,072.30 crore has been flagged as potentially high relative to the stated range, based on the company’s reported FY26 performance.

The same material notes that full-year consolidated PAT crossed ₹8,000 crore, while the dividend outflow is ₹7,072.30 crore, suggesting that the dividend could exceed the upper band of the policy range depending on the standalone earnings base. Any final assessment would depend on the company’s standalone PAT and other capital-allocation decisions disclosed in detailed annual filings.

Valuation references and peer context mentioned

UltraTech’s market capitalisation was cited at roughly ₹3.5 trillion (around ₹3,54,004 crore on BSE), and the Trailing Twelve Months (TTM) P/E ratio was referenced in a range of 46x to 54x in the provided content. The same material compared this to ACC with a P/E of 10.3x.

These valuation references provide context for how the market prices UltraTech relative to peers, even as the stock’s immediate reaction to the dividend and results was mixed.

What investors should track next

Two items are key for investors following the dividend: the record date announcement and the AGM outcome. UltraTech has said the record date will be notified in the coming days, and the dividend recommendation is subject to shareholder approval.

Investors will also track subsequent filings for final timelines, including the ex-date and payment date, once communicated by the company and exchanges.

Conclusion

UltraTech Cement’s 2,400% dividend recommendation at ₹240 per share, aggregating ₹7,072.30 crore, marks its largest payout cited so far and comes alongside a strong Q4 FY26 performance. Near-term focus is likely to remain on the record date announcement and AGM approval, which will determine eligibility and completion of the payout process.