UltraTech Cement Q4 results: Profit up 10%, ₹77.50 dividend

UltraTech Cement reported a stronger March quarter for FY25, with consolidated revenue and profit rising year-on-year and a sharp rebound from the preceding quarter. The company also recommended a dividend of ₹77.50 per share, signalling comfort on cash flows even as pricing pressures persisted in some regions. Despite the earnings beat versus street expectations mentioned in the update, the stock saw profit booking on April 29, 2025.

Q4 FY25 headline numbers

For Q4 FY25, UltraTech Cement reported consolidated revenue from operations of ₹23,063 crore, up 13% year-on-year. Net profit for the quarter rose 10% year-on-year to ₹2,482 crore. In another disclosure within the same set of updates, Q4 FY25 consolidated net sales were reported at ₹22,788 crore versus ₹20,069 crore in Q4 FY24.

The company also reported that earnings per share (basic) for Q4 FY25 was ₹84.38 in one of the result summaries. Another table excerpt in the material references basic EPS of ₹78.14 for the quarter, alongside the dividend recommendation.

Strong sequential recovery from Q3 FY25

The March quarter numbers showed a significant sequential improvement. Revenue rose 30% quarter-on-quarter to ₹23,063 crore from ₹17,779 crore in Q3 FY25. Profit rose 83% quarter-on-quarter to ₹2,482 crore from ₹1,359 crore in Q3 FY25.

The updates attributed the quarterly recovery to strong volume growth, improved realisations and operational efficiencies. At the same time, commentary flagged regional pricing pressures, suggesting the improvement was driven more by volumes and cost control than by broad-based price increases.

EBITDA and margin movement

UltraTech’s operating profitability improved in absolute terms. One exchange-style summary in the material pegged Q4 FY25 EBITDA at ₹4,618.4 crore, up 12.3% year-on-year from ₹4,114 crore, with EBITDA margin at 20% versus 20.2% a year earlier.

Another section reported profit before interest, depreciation and tax (EBITDA) at ₹4,721 crore compared with ₹4,250 crore in the same quarter last year. Across the disclosures, the direction is consistent: operating profit increased, while margins were broadly stable with a marginal year-on-year dip.

Full-year FY25: revenue up, profit down

For FY25, UltraTech reported net profit of ₹6,039 crore, down 14% year-on-year. Full-year revenue was reported at ₹75,955 crore (up 7% year-on-year) in one summary.

A separate FY25 net sales figure of ₹74,936 crore (versus ₹69,810 crore in FY24) was also cited in the provided material, alongside FY25 EBITDA of ₹13,302 crore compared with ₹13,586 crore in FY24. The FY25 profit decline was attributed to earlier input cost pressures and higher interest and depreciation costs.

Cost trends: energy relief and utilisation levels

UltraTech said energy costs fell 14% year-on-year, supported by lower fuel prices. Fuel cost was reported at ₹881 per tonne in Q4 FY25, down from ₹1,025 per tonne in Q4 FY24.

Operationally, effective capacity utilisation was 89% in the quarter and 78% for the full year. The disclosures also noted that quarterly expenses increased about 13% to ₹18,445 crore, with the increase linked mainly to higher raw material costs.

Volumes, capacity additions and logistics expansion

UltraTech reported Q4 FY25 consolidated sales volumes of 41.02 million metric tonnes, up 17% year-on-year. For FY25, the company said it achieved sales volumes of 135.83 million metric tonnes.

On expansion, UltraTech said it added 42.60 million tonnes per annum (mtpa) of capacity in FY25 through organic and inorganic growth, and commissioned 17.40 mtpa during the year across different locations in India. It also opened its first bulk cement terminal in Lucknow, Uttar Pradesh, with handling capacity of 1.8 mtpa.

In one filing-style summary, UltraTech stated its domestic grey cement capacity rose to 183.36 mtpa on a consolidated basis, and together with overseas capacity of 5.4 mtpa, global capacity stood at 188.76 mtpa.

Dividend: ₹77.50 per share and payout size

The board recommended a dividend of ₹77.50 per equity share (face value ₹10 each) for FY25, subject to shareholder approval at the ensuing annual general meeting. The AGM date and record date were to be intimated separately.

The total dividend payout was reported at ₹2,283.75 crore, described as a 775% payout on the face value. The disclosures also clarified that the dividend would be taxable in shareholders’ hands and that tax would be deducted at source as per applicable laws.

Market reaction: stock dips despite results

Even with the reported year-on-year rise in Q4 profit, UltraTech Cement’s share price declined on April 29, 2025, with analysts attributing the move to profit booking. One update said the stock fell nearly 2% on the day.

Price data in the material shows the stock opened around ₹12,200, hit an intraday low in the ₹11,885 to ₹11,924 range across updates, and closed near ₹12,114 (about 1% lower) in one snapshot. Separately, UltraTech shares were noted at ₹11,910 at 11:09 AM IST, down 1.68%.

Key numbers at a glance

Update in later disclosures: Q4 FY26 numbers

In an update dated April 27, UltraTech Cement reported a 20% increase in net profit to ₹2,983 crore for the quarter ended March 31, 2026, compared with ₹2,482 crore in the year-ago period. Revenue from operations for Q4 FY26 rose 12% to ₹25,799 crore versus ₹23,063 crore in Q4 FY25.

Acquisition impact on comparability

One of the filings cited in the material noted that results were not comparable due to the acquisition of India Cements Ltd and Ras Al Khaimah, UAE-based RAKWCT. The disclosure stated that the financial results include India Cements with effect from December 25, 2024, affecting comparability for the three months and year ended March 31, 2025.

Conclusion

UltraTech Cement’s Q4 FY25 performance combined double-digit growth in revenue and profit with an 83% sequential profit jump and a ₹77.50 per share dividend recommendation. The next formal milestones highlighted in the disclosures are shareholder approval at the AGM and the subsequent announcement of the record date.