Ambuja Cements Q2 FY27 results: what the company reported
Ambuja Cements Limited filed its unaudited results for the quarter ended 30 September 2026 (July to September 2026, called Q2 FY27) with NSE on 29 October 2026, the day its board approved them, along with a media release.
Published 6 November 2026 · Potoos Research Services
In short. For July to September 2026, Ambuja reported consolidated revenue from operations of Rs 9,166 crore, against Rs 9,130 crore a year earlier (+0.4%), and a consolidated profit after tax of Rs 236 crore, against Rs 2,336 crore. Last year's quarter included a one-time tax write-back of Rs 1,710 crore, which this quarter does not have.
The numbers
Ambuja files two sets of results. The consolidated set counts Ambuja Cements and its subsidiaries as one group, including ACC Limited and Orient Cement Limited. The standalone set covers Ambuja Cements Limited alone. The first two tables are consolidated, in Rs crore, as printed in the company's statement. The change column is worked out by us.
| Item | Jul to Sep 2026 | Jul to Sep 2025 | Change |
|---|---|---|---|
| Revenue from operations | 9,166 | 9,130 | +0.4% |
| Total income (revenue, government grants and other income) | 9,255 | 9,432 | -1.9% |
| Profit after tax | 236 | 2,336 | -89.9% |
| Profit attributable to owners of the parent | 193 | 1,774 | -89.1% |
| Basic EPS (Rs) | 0.78 | 7.19 | -89.2% |
| Item | Apr to Sep 2026 | Apr to Sep 2025 | Change |
|---|---|---|---|
| Revenue from operations | 18,640 | 19,374 | -3.8% |
| Total income | 18,924 | 19,977 | -5.3% |
| Profit after tax | 896 | 3,377 | -73.5% |
| Profit attributable to owners of the parent | 770 | 2,643 | -70.9% |
| Basic EPS (Rs) | 3.10 | 10.72 | -71.1% |
The standalone results, for Ambuja Cements Limited on its own, without ACC, Orient or other subsidiaries:
| Item | Jul to Sep 2026 | Jul to Sep 2025 | Change |
|---|---|---|---|
| Revenue from operations | 6,113 | 5,579 | +9.6% |
| Total income | 6,187 | 5,648 | +9.5% |
| Profit after tax | 114 | 1,158 | -90.2% |
| Basic EPS (Rs) | 0.46 | 4.69 | -90.2% |
Several year-ago figures are restated by the company. Consolidated: after it finished valuing Orient Cement's assets, the July to September 2025 profit after tax moved from Rs 2,302 crore as first reported to Rs 2,336 crore (note 3). Standalone: after Sanghi Industries and Penna Cement were merged into Ambuja, the same quarter's profit after tax moved from Rs 1,388 crore to Rs 1,158 crore (note 9 of the standalone results). Orient Cement is in the consolidated figures from 22 April 2025, so the company says the half years are not comparable to that extent.
Why last year's profit was so much higher
In July to September 2025, Ambuja and ACC reversed old tax provisions after favourable High Court decisions in similar matters. Note 5 gives Rs 1,180 crore for Ambuja and Rs 659 crore for ACC, net of deferred tax. The consolidated results statement shows Rs 1,710 crore on its "tax write back" line for that quarter. The filing does not present the two Note 5 amounts as adding up to the Rs 1,710 crore line, so do not read them that way. Total tax for that quarter was a credit of Rs 1,453 crore. This quarter, total tax was an expense of Rs 62 crore.
Profit before exceptional items and tax, which is not affected by the write-back, was Rs 383 crore this quarter against Rs 1,106 crore a year earlier, a change of -65.4%. Other income was also lower: Rs 58 crore against Rs 257 crore. The note says ACC recorded interest of Rs 205 crore on income tax orders in the year-ago quarter.
Exceptional items, which the company shows separately because they are one-off:
- This quarter: Rs 85 crore for termination benefits under a Voluntary Severance Scheme for third-party workers and permanent employees at various plants, recorded by Ambuja and ACC.
- Same quarter last year: Rs 223 crore, a West Bengal state government grant that was fully provided for.
Other notes and the auditor
- Auditor's emphasis of matter: the statutory auditor, S R B C & CO LLP, draws attention to the Competition Commission of India cases. In 2016 the CCI imposed a penalty of Rs 1,164 crore on Ambuja and Rs 1,148 crore on ACC for alleged cartelisation. The appeals are being heard by the Supreme Court. Based on legal advice, the group has made no provision for them. The auditor states its conclusion is not modified in respect of this matter.
- Plants: in the April to June 2026 quarter, Ambuja and ACC approved temporary suspension of manufacturing at certain plants after a review of production facilities. Management says the closures are temporary, so no impairment provision is needed.
- Mergers: Ambuja's board approved schemes in December 2025 to merge ACC Limited and Orient Cement Limited into Ambuja. In its 29 October 2026 media release, the company said shareholders had approved the proposed mergers and that the next step was to seek final approval from the National Company Law Tribunal.
What the company said
These are the company's own words, from the media release it filed with NSE on 29 October 2026.
“Cement sales volume stood at 16.5 MnT during the quarter”
Ambuja Cements media release, 29 October 2026
“Revenue from operations Rs 9,197 Cr, with Operating EBITDA of Rs 1,271 Cr, EBITDA margin of 13.8% and EBITDA per tonne of Rs 770.”
Ambuja Cements media release, 29 October 2026
“Total cost in Q2 stood at Rs 4,410 per tonne”
Ambuja Cements media release, 29 October 2026
The release's revenue figure (Rs 9,197 crore) is not the same as the Rs 9,166 crore in the results table. The results table shows government grants of Rs 31 crore on a separate line, and Rs 9,166 crore plus Rs 31 crore is Rs 9,197 crore. The release does not spell this out; the tables on this page use the results statement. MnT means million tonnes. EBITDA means earnings before interest, tax, depreciation and amortisation. Operating EBITDA is the company's own performance measure, not the same as profit after tax.
Dates
- Board meeting: 29 October 2026 (started 11:00 a.m., ended 02:20 p.m.). The board approved the results that day.
- Filed with NSE: 29 October 2026, with the media release and an investor presentation the same day.
- Dividend: none declared in this filing.
- Also approved at the same meeting: buying 26% of SWE Renewables Limited, for approximately INR 33.75 crore in cash, in one or more tranches within 15 months. The company says the aim is to buy wind power through a captive arrangement to lower its electricity cost.
Consolidated and standalone: consolidated figures add up Ambuja and its subsidiaries, such as ACC and Orient Cement, as one group. Standalone figures cover Ambuja Cements Limited alone. ACC is a separate listed company with its own results; its numbers are inside Ambuja's consolidated figures, not its standalone ones.
Tax write-back: money set aside in earlier years for possible tax that the company later decided it would not need, so it was added back to profit.
Exceptional items: one-off income or costs that the company shows on a separate line so they do not mix with regular business.
Emphasis of matter: a paragraph where the auditor points readers to an important note. It is not a change in the auditor's conclusion.
Rs crore: one crore is one hundred lakh, or ten million. The filing reports in crore, so this page does too.
Source
- Ambuja Cements, outcome of board meeting with unaudited standalone and consolidated results and auditor's review reports, 29 October 2026. nsearchives.nseindia.com
- Ambuja Cements, media release on the results, 29 October 2026. nsearchives.nseindia.com
This page was written by Potoos Research Services, a SEBI-registered Research Analyst (INH000027380) in Chennai. Every figure above is copied from the company's filing, and every percentage change is worked out from the filing's own numbers.
This page reports what the company filed. It is not a recommendation to buy, sell or hold.
Common questions
What was Ambuja Cements' revenue in Q2 FY27?
Consolidated revenue from operations for July to September 2026 was Rs 9,166 crore, against Rs 9,130 crore in July to September 2025, a change of +0.4%. Standalone revenue, for Ambuja Cements Limited alone, was Rs 6,113 crore, against Rs 5,579 crore (+9.6%).
Why did Ambuja's profit fall so much in Q2 FY27?
Consolidated profit after tax was Rs 236 crore, against Rs 2,336 crore a year earlier. The year-ago quarter included a tax write-back of Rs 1,710 crore. Profit before exceptional items and tax was Rs 383 crore, against Rs 1,106 crore (-65.4%).
Are ACC's results included in Ambuja's figures?
Yes, in the consolidated figures. ACC Limited is a subsidiary, so its results are inside Ambuja's consolidated numbers. The standalone figures cover Ambuja Cements Limited alone.
Did Ambuja Cements declare a dividend with these results?
No dividend was declared in the 29 October 2026 results filing.
Is this page a recommendation?
No. It reports what the company filed. It is not a recommendation to buy, sell or hold.