Indian earnings call, October 2026: UltraTech raises cables-and-wires revenue target
UltraTech Cement said its cables-and-wires revenue target rose to approximately ₹16,000–18,000 crore from ₹10,000 crore. It kept its fiscal year 2027 capital spending guidance at ₹10,000 crore.
An update from FactIQ, written from company statements in earnings calls of companies listed in India. What is FactIQ?
Key figures
- UltraTech Cement, cables-and-wires revenue target
- ₹16,000–18,000 crorestated by the chief financial officer; up from ₹10,000 crore, depending on copper prices
- UltraTech Cement, capital expenditure guidance, fiscal year 2027
- ₹10,000 crorestated by the chief financial officer; plus or minus, range unspecified
- UltraTech Cement, operating profit (EBITDA) per ton target by March 2028
- ₹1,400stated by the chief financial officer; commitment reaffirmed
- UltraTech Cement, planned cement capacity
- 240 million tonsstated by the chief financial officer; company says it remains on track
UltraTech Cement held its call for the second quarter of fiscal year 2027 (FY2027) on 19 October 2026. The chief financial officer spoke for the company.
UltraTech Cement expects cement prices and demand to keep rising
- The chief financial officer said cement prices rose substantially in October 2026 and remained high. The company expects prices to improve further over the next couple of months.
- The company said its September 2026 performance and price realization, the price it actually received, were higher than its average for the second quarter of FY2027. It said volumes remained strong and price increases came through.
- UltraTech expects industry cement demand to grow very strongly in the third quarter of FY2027. It said activity typically picks up after mid-November 2026. It expects to grow faster than the industry on capacity additions and market reach.
UltraTech Cement kept its capacity, spending and profit targets
- The company said it remains on track to reach its planned cement capacity of 240 million tons. It said its next growth phase would take capacity beyond 240 million tons.
- It kept its FY2027 capital expenditure (capex), its spending on plants and equipment, guidance at ₹10,000 crore, plus or minus. It did not give the range. It expects a fuller assessment after its third-quarter results.
- It reaffirmed its commitment to deliver ₹1,400 of earnings before interest, taxes, depreciation and amortization (EBITDA), a measure of operating profit, per ton by March 2028. It said price increases would cover any cost pressures.
- The company said the higher cables-and-wires revenue target depends on copper prices.
Costs and regional profits remain open questions
- UltraTech expects cost pressures from the West Asia crisis to persist for some more time. It said how the crisis will unfold is uncertain.
- Analysts asked when prices and profitability would improve in the South and East regions. Management gave a partial answer.
- Analysts asked whether South profitability would reach the all-India average. Management deflected the question.
- Analysts asked which copper price underlies the cables-and-wires target. Management gave a partial answer.
Source: Earnings calls of companies listed in India. See which companies FactIQ covers.
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