Adani Group’s cement and building materials arm, Ambuja Cements, reported a 9% year-on-year decline in net profit attributable to owners for the fourth quarter of FY25, due to higher tax expenses.Profit attributable to owners stood at Rs 956.3 crore, compared to Rs 1,050.6 crore in Q4FY24, though it exceeded Bloomberg’s estimate of Rs 735 crore. The company’s consolidated net profit for the quarter came in at Rs 1,282 crore, marking a 16% annual decline.
Revenue from operations for the March quarter rose 11.6% year-on-year to Rs 9,802.5 crore, below Bloomberg’s projection of Rs 9,903 crore. Earnings before interest, tax, depreciation and amortisation (Ebitda) rose 12% year-on-year to Rs 1,781.4 crore, surpassing street estimates of Rs 1,645 crore. The Ebitda margin stood at 18.2%, while Ebitda per tonne was Rs 1,001—a 2% decline from the same period last year.
Due to the consolidation of Penna Cements’ financials from August 2024, Ambuja Cements noted that the results for Q4 and the full year ending March 31, are not directly comparable with those from the previous year.The company reported its highest-ever quarterly sales volume at 18.7 million tonne in Q4FY25. Sales volume was up 12.65% from the corresponding quarter in the previous fiscal.
For the full fiscal year, Ambuja Cements recorded revenue from operations of Rs 33,677.7 crore and a net profit attributable to owners of Rs 1,145.1 crore.
With the recent acquisition of Orient Cement, Ambuja’s installed cement capacity has surpassed 100 million tonne per annum (mtpa) as of April 29. The company aims to expand this to 118 mtpa by the end of FY26.“We have ongoing organic expansions at various stages across the country, which will help us achieve 118 MTPA capacity by end of FY 2026, a significant step, bringing us closer to our goal of 140 MTPA by 2028,” said Vinod Bahety, whole-time director and CEO, Ambuja Cements.
The company’s management announced plans to invest Rs 6,000 crore in growth capex during FY26 to reach its 118 mtpa capacity target. An additional Rs 2,500–3,000 crore will be allocated for efficiency-related capital expenditure, the management said during the post earnings call.
Ambuja’s net worth increased by Rs 12,969 crore during FY25 to Rs 63,811 crore, while its cash and cash equivalents stood at Rs 10,125 crore as of March 31.“In context of the ongoing capex and growth plans of the company, the Board of Directors have recommended a dividend on equity shares at Rs 2 per share, which is consistent with last year,” the company said.
The firm also reported that cement consumption during Q4FY25 grew by 6.5–7%, supported by a pickup in construction activity, improved rural demand, real estate momentum, and increased government expenditure. Cumulative cement consumption growth for FY25 is estimated at 4–5%.“Based on the demand growth trends observed in H2 FY25, it is projected that cement demand growth in India during FY26 will continue to benefit from the momentum gained by government spending on infrastructure and construction activities and pro-infra and housing Budget. Growth for FY26 is anticipated to range between 7% to 8%,” the company added.