Ambuja Cements Ltd(AMBUJACEM)

NSE: AMBUJACEMBSE: 500425

₹ 358+0.69%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 88,956 crNext results: 29 Oct 2026Website: www.ambujacement.comUpdated: 24 Oct 2026

About

Ambuja Cements Ltd, part of the Adani Group, is India's second-largest cement manufacturer and became the ninth-largest cement company globally on crossing 100 MTPA. It operates alongside ACC, Orient, Sanghi and Penna, with installed cement capacity of 113.45 MTPA after the Salai Banwa and Kalamboli units were commissioned. Revenue was Rs 40,655.68 Cr in FY26.^[1][2]

Business segments

Cement contributed 95.2% of FY26 revenue at Rs 38,897.99 Cr, with an EBIT margin of 8.1%.^[3]
Ready Mix Concrete contributed 4.8% of FY26 revenue at ₹1,965 Cr with an EBIT margin of 6.2%.^[3]
The company runs 102 ready-mix concrete plants (FY25 annual report).^[1]

Products and brands

Premium cement products, with Ambuja Kawach and ACC Gold as the super-premium flagships, made up 34% of trade sales in Q1 FY27.^[4]
Blended cement share rose 5 pp YoY to 85% of volumes in Q1 FY27, and the clinker factor improved 2.1 pp YoY to 63.7%.^[4]
All acquired entities (Orient, Penna, Sanghi) have been fully rebranded under the Ambuja and ACC brands.^[5]
The Economic Times named Ambuja India's Most Iconic Brand, and TRA Research named it India's Most Trusted Cement Brand (FY25 annual report).^[1]

Manufacturing capacity and operations

Installed cement capacity reached 113.45 MTPA after a 2.4 MTPA grinding unit at Salai Banwa, UP and a 3.00 MTPA blending unit at Kalamboli, Maharashtra were commissioned.^[6]
In Q1 FY27, trial production also started at Dahej (1.2 MTPA), Bhatinda (1.2 MTPA) and Jodhpur (2 MTPA); total capacity is targeted at 119 MTPA by the end of FY27.^[4]
About 3.5 MTPA of older ACC capacity (including Chaibasa, Marwar, Wadi and Lakheri) is temporarily suspended for about 6 months while cost-optimisation investments are evaluated.^[4]
Limestone reserves have been built up to about 9,000 million tonnes, from captive government-leased mines near the integrated plants (FY25 annual report).^[1]
40% of fly-ash requirements are secured under long-term agreements (FY25 annual report).^[1]
Renewable energy capacity was 973 MW in Q1 FY27, up about 500 MW YoY; WHRS capacity is 228 MW, targeted to reach 376 MW as new clinker lines are commissioned.^[4]

Key operating numbers

Consolidated sales volume was 17.1 MnT in Q1 FY27, down 7% YoY and 14% QoQ, as low or negative-EBITDA non-trade volumes were exited (non-trade down 21% YoY).^[4]
EBITDA per tonne was ₹931 in Q1 FY27, up ₹196 QoQ. Normalised EBITDA per tonne for FY26 was ₹887, up 12% YoY.^[4]
Net operating cost fell to ₹4,241/tonne in Q1 FY27, down ₹206/tonne QoQ, against FY27 guidance of ₹4,250/tonne.^[4]
Capacity utilisation was 65% in Q1 FY27 vs 77% in Q4 FY26.^[4]
Trade sales share rose to 78% in Q1 FY27, from 74% in Q4 FY26 and 68% in Q3 FY26.^[4]
Primary lead distance improved to 249 km in Q1 FY27, from 265 km in Q2 FY26.^[4]
Power cost fell from ₹5.9/unit to ₹4.9/unit in Q1 FY27 as renewable capacity ramped up.^[4]

Distribution and market reach

Market share was 16.6% in Q3 FY26, with a long-term target of 20 - 22% by FY28.^[7]
The pan-India network has about 12,000 dealers and 38,000 retailers/sub-dealers, and more than 1,10,000 channel partners (FY25 annual report).^[1]
Present in 31 states and UTs across 635+ districts (FY25 annual report).^[1]
The Penna acquisition raised Southern market share from 7% to 15% (FY25 annual report).^[1]
2.93 lakh contractors have enrolled in the Ambuja Abhimaan loyalty programme (FY25 annual report).^[1]
In the South cluster, about 1 MnT of low or negative-EBITDA volumes were cut in Q1 FY27 while channel investment and plant efficiency work come ahead of a trade ramp-up.^[4]

Expansion and capex

FY27 capex is guided at about ₹6,500 Cr, with about ₹1,500 - 1,600 Cr spent in Q1 FY27; a similar ₹6,000 - 7,000 Cr run-rate is indicated for FY28.^[4]
The Maratha clinker line (4 MTPA) has moved to Q1 FY28 commissioning after a contractor issue was resolved.^[4]
A Sanghi jetty expansion (about ₹600 Cr) is planned to raise clinker utilisation and support coastal grinding units.^[4]
From FY28, organic capacity additions of 8 - 10 MTPA a year are targeted, with a long-term goal of 155 MTPA by about FY30.^[4]
RE capacity is targeted to reach 1,122 MW by FY27.^[4]

Group structure and acquisitions

Ambuja owns 50.05% of ACC Limited and, from April 22, 2025, 46.66% of Orient Cement Limited.^[1]
Acquisitions since the Adani takeover have added 32.9 MTPA of capacity, valued at a cumulative ₹24,896 crore. They include Orient, Penna, Sanghi, Asian Fine Cements and a grinding unit at Tuticorin.^[1]

Recent developments

As of 30 Sep 2026, ACC commissioned a 2.4 MTPA grinding unit at Salai Banwa, UP, and Bulk Cement Corporation India commissioned a 3.00 MTPA blending unit at Kalamboli, Maharashtra.^[6]
The Sanghi Industries merger took effect 12 March 2026 and the Penna Cement merger 10 April 2026; the ACC and Orient Cement mergers await SEBI NOC and are expected to conclude in FY27.^[8]
Surplus green power of 45 crore units was sold for about ₹140 Cr in Q1 FY27; most of it is expected to move to captive use within 2 - 3 quarters.^[4]
An AI-led Cement Intelligent Network Operations Centre (CiNOC) was launched, with full benefits expected from FY27.^[5]

Market Cap

₹88,956 Cr

High / Low

₹589 / 341

Stock P/E

20.3

Price / Book

1.5

Book Value

₹239

EPS

₹19.0

No. of Shares

248.48 Cr

ROCE

5.6%

ROE

8.4%

OPM

9.2%

Debt / Equity

0.00

Sales

₹40,656 Cr

Net Profit

₹5,637 Cr

Promoter holding

67.3%

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Ambuja Cements Ltd(AMBUJACEM)

About

Business segments

Products and brands

Manufacturing capacity and operations

Key operating numbers

Distribution and market reach

Expansion and capex

Group structure and acquisitions

Recent developments

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