India’s Cement Industry in FY26 – Q3 Performance Overview
India’s cement industry continues to be a key driver of infrastructure development and housing growth, contributing significantly to the country’s economic progress. As one of the world’s largest cement producers, India’s cement sector reflects trends in construction demand, government infrastructure spending, and real estate activity.
The Q3 FY26 (October–December 2025) financial performance of major cement companies—UltraTech Cement, ACC, JK Cement, and India Cements—shows strong revenue growth across players, while profitability trends remain mixed due to cost pressures and company-specific challenges.
Cement Companies Q3 FY26 Financial Highlights
No. | Brands | Revenue from operations | Net Profit (PBT) | ||||
Q3 2025-26 | Q3 2024-25 | YOY% Change | Q3 2025-26 | Q3 2024-25 | YOY% Change | ||
1 | ULTRATECH CEMENT LTD. | 20,087.87 | 16,913.94 | 18.77% | 2,052.59 | 1,645.68 | 24.73% |
2 | ACC LTD. | 6,366.82 | 5,220.37 | 21.96% | 595.50 | 1,475.32 | -59.64% |
3 | J.K.CEMENT LTD. | 3,212.82 | 2,739.20 | 17.29% | 275.59 | 289.57 | -4.83% |
4 | INDIA CEMENTS LTD | 1,114.13 | 902.19 | 23.49% | -7.65 | -497.06 | -98.46% |
UltraTech Cement Ltd. – Market Leader with Strong Growth
UltraTech Cement Revenue Performance
UltraTech Cement reported Revenue from Operations of ₹20,087.87 Crores, registering an 18.77% YoY growth over ₹16,913.94 Crores in Q3 FY25. The growth was driven by robust infrastructure demand, housing construction, and higher cement volumes across regions.
UltraTech Cement Net Profit (PBT) Performance
UltraTech posted a Net Profit (PBT) of ₹2,052.59 Crores, up 24.73% YoY from ₹1,645.68 Crores. Strong operational efficiency, economies of scale, and effective cost control supported profitability.
ACC Ltd. – Strong Revenue, Profit Under Pressure
ACC Cement Revenue Performance
ACC Ltd. recorded Revenue of ₹6,366.82 Crores, reflecting a healthy 21.96% YoY growth compared to ₹5,220.37 Crores. Improved volumes and steady market demand contributed to top-line expansion.
ACC Cement Net Profit (PBT) Performance
Despite revenue growth, Net Profit declined sharply to ₹595.50 Crores, a 59.64% YoY fall from ₹1,475.32 Crores. Rising input costs and margin pressure impacted overall profitability.
J.K. Cement Ltd. – Stable Growth with Mild Margin Impact
JK Cement Revenue Performance
J.K. Cement reported Revenue of ₹3,212.82 Crores, growing 17.29% YoY from ₹2,739.20 Crores. Demand from northern and western India supported consistent revenue growth.
JK Cement Net Profit (PBT) Performance
The company’s Net Profit (PBT) stood at ₹275.59 Crores, slightly lower than last year, marking a 4.83% YoY decline. While revenues remained strong, higher costs impacted margins.
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India Cements Ltd. – Revenue Growth with Reduced Losses
India Cement Revenue Performance
India Cements posted Revenue of ₹1,114.13 Crores, showing a 23.49% YoY increase from ₹902.19 Crores, indicating improved market traction.
India Cement Net Profit (PBT) Performance
The company reported a loss of ₹7.65 Crores, compared to a loss of ₹497.06 Crores last year. Although profitability remains negative, the sharp reduction in losses reflects significant improvement in operational performance.
Comparative Performance Analysis (Revenue vs. Profit)
Revenue Growth Comparison
UltraTech Cement: +18.77%
ACC Ltd.: +21.96%
J.K. Cement: +17.29%
India Cements: +23.49%
Net Profit (PBT) Growth Comparison
UltraTech Cement: +24.73%
ACC Ltd.: -59.64%
J.K. Cement: -4.83%
India Cements: Loss reduced by 98.46%
UltraTech Cement emerged as the most balanced performer with strong revenue and profit growth, while India Cements showed a notable turnaround by sharply reducing losses. ACC and J.K. Cement faced profitability pressure despite solid revenue growth.
Read More: Top 10 Cement Companies in India
Key Trends Shaping India’s Cement Sector in Q3 FY26
Strong Demand Momentum
Infrastructure projects, urban housing, and government-led construction continued to support cement demand.
Margin Pressure from Input Costs
Rising fuel, power, and logistics costs affected profitability for several players.
Focus on Efficiency & Scale
Large players like UltraTech benefited from scale advantages, cost optimization, and operational efficiency.
Investment Takeaways for Stakeholders
Strong Performer: UltraTech Cement due to consistent revenue and profit growth
Revenue Leaders: ACC and India Cements (top-line growth)
Watchlist: J.K. Cement for stable operations
High Risk: India Cements, despite improvement, due to ongoing losses
Future Outlook – Cement Industry FY26
The cement sector outlook for FY26 remains positive, supported by:
Infrastructure expansion (roads, metro, railways)
Housing and real estate demand
Government capital expenditure push
Effective cost management will be critical for sustaining profitability in the coming quarters.
Conclusion – Growth with Profitability Challenges
The Q3 FY26 Cement Industry Performance highlights a strong demand environment with double-digit revenue growth across companies, while profitability remained uneven. UltraTech Cement led with balanced growth, India Cements showed turnaround signs, and others faced margin pressures.
Overall, India’s cement industry remains resilient and well-positioned to benefit from long-term infrastructure and housing growth.
