ACC delivers robust performance in Q3 FY26

Ahmedabad, 28 January 2026: ACC Limited, part of the diversified Adani Portfolio and among India’s fastest‑growing building materials and solutions companies, delivered a standout performance for the quarter ended 31st December 2025, achieving its highest‑ever quarterly sales volume. The Company’s momentum during the quarter reflects transformative steps, chief amongst which is the announcement of the amalgamation of ACC Limited into Ambuja Cements Limited, establishing a unified ‘One Cement Platform’ that will accelerate its growth trajectory, drive operational excellence, improve capital efficiency, reinforce its industry leadership and support long‑term value creation. The performance highlights an emphasis on premium cement and solutions rich ready‑mix concrete (RMX). 

Mr Vinod Bahety, Whole-Time Director & CEO, ACC Limited, said: “We have sustained our growth momentum with another strong quarter, delivering our highest‑ever quarterly volumes. Higher trade and premium cement sales, alongside continued expansion in RMX, have supported better realizations than industry peers and strengthened our market position in core regions. We remain focused on resolving specific cost levers as part of our blueprint, particularly power costs, increasing the share of green power, fuel efficiency, improved WHRS and AFR utilization, and tighter logistics costs. The proposed integration into the One Cement Platform is expected to accelerate both efficiency and growth, enabling deeper synergies across procurement, manufacturing and distribution once statutory approvals are completed. Our digitalization agenda under CiNOC is designed to substantially improve productivity and optimize business operations at scale. Our Reliability, Environment, Quality and Safety (RESQ) pillars continue to be the cornerstone of how we run our plants and processes, and we have further tightened systems around these. On the market side, our premium portfolio, led by ACC Gold, continues to deliver superior EBITDA margins, and the increasing share of Trade and Premium is expected to sustain realization advantages. We are grateful to our customers, our expansive dealer and retailer network of over one lakh partners, and the seven‑lakh‑plus influencers (masons/contractors) who power the Adani Cement Parivar. With their support and our relentless emphasis on operational excellence and sustainability, ACC is well‑positioned to extend its growth trajectory and remain a trusted partner in India’s infrastructure story.”                                                                           

Operational Highlights

Revenue leadership

Strong brand equity, a differentiated value proposition, and agile supply chain execution reinforced market leadership and lifted realizations

• Highest ever quarterly volume (@11.3 Mn T, up 15 % YoY)
• Highest ever quarterly revenue (normalised basis)¹ at 6,483 Cr, up by 22% YoY, driven by higher premium product as % of trade sales at 43% (premium volume up by 33% YoY)

Cost leadership

In our targeted cost reduction journey with the planned initiatives, primarily envisages optimisation in Raw Materials, Power & Fuel, Logistics cost 

¹ Normalised basis excluding one-time gain of govt. grant of Rs.637 Cr in Q3 FY’25

• WHRS power share increased by 3.1 pp from 14.1% to 17.2%,
• ACC also stands benefited from the parent company’s investment into RE Power (Solar / Wind) under the MSA where its power cost has come down by 1% from Rs. 6.02 to Rs. 5.95 / kwh.

Pursuant to the implementation of the new Labour Code in the country with effect from 21st November, 2025, the Company has recognized Rs. 50 crores as an exceptional expense towards additional Gratuity and Leave Encashment obligations

Along with parent company, ACC continues to work on cost leadership and targets to achieve Rs. 3,650/ MT by FY28 under the One Cement Platform. Further details will be shared in due course.

Financial Leadership 

• Operating EBITDA at Rs. 700 Cr, EBITDA PMT at Rs. 619, EBITDA margin at 10.8%.
• Planned Maintenance cost is being accounted on actual basis, which has been high for this quarter. From next FY it will be amortised over 12 months
• EPS (Diluted) at Rs. 21.5, during the quarter
• Net Worth increased by Rs 389 Cr during the Qtr. and stands at Rs. 20,326 Cr
• Crisil & CARE rated AAA (stable) / A1+, continue to remain debt free

Growth Leadership:

• Capacity: Cement grinding units at Salai Banwa (2.4 MTPA), Kalamboli (1.0 MTPA) are on track to be commissioned in Q4 FY26.

• One Cement Platform:
  • The amalgamation of ACC Limited with Ambuja Cements was announced, creating a pan-India cement powerhouse under a single corporate structure.
  • The merger is expected to optimise manufacturing and logistics, streamline operations, and strengthen the balance sheet, enabling more efficient capital allocation and faster decision-making.

• Completion of the transaction is subject to requisite approvals and is expected over FY27.

Financial Performance for the Quarter and nine months ended December 31, 2025:

One off items:

1. Including non-recurring Govt. grant of Rs.637 Cr in Q3/9M FY’25., normalised EBITDA margin for Q3 FY25 at 9.0%, for 9M FY25 at 10.5%

2.IDEC – Infrastructure Development and Environment Cess

RMX growth trajectory:

Concrete business footprint increased through addition of 14 plants YoY, now 117 plants spread over in 45 cities. Volume up 36% at 0.97 Mn m³ YoY, EBITDA at Rs 72 Cr. up by 56% YoY.

ESG Updates 

• ACC has delivered exceptional results in the 2025 ESG Ratings. In S&P Global Corporate Sustainability Assessment (CSA) for the Construction Materials sector, it scored a gross score of 89/100 (without MSA impact) as of 3 December 2025. In CDP, it got ‘A’ score in Climate Change as well as water Security.
• Ambuja Cements, parent company of ACC, has been selected for the first Indo-Swedish Carbon Capture Utilization (CCU) pilot project in the global cement sector. The project is in collaboration with IIT Bombay and EcoTech, Sweden; and jointly sponsored by the Department of Science and Technology (DST), India, and the Swedish Energy Agency, Sweden.
• Adani Cement and Coolbrook will deploy the world’s first industrial-scale RotoDynamic Heater™ (RDH™) at the Boyareddypalli Cement Plant in Andhra Pradesh, leading to 60,000 tonnes of CO2 emission reduction annually, with a 10x potential as adoption expands across plants, advancing SBTi validated net zero 2050 goal.
• The Company has officially adopted the Taskforce on Nature-related Financial Disclosures (TNFD) framework, making it the first Indian cement company, along with Ambuja Cements Limited, to adopt TNFD and joining an elite group of just seven global players, aligning its sustainability reporting with global best practices.
• The Company continues to invest in its initiatives towards water conservation, co-processing of waste, utilisation of waste-derived resources, and community development programmes spanning education, healthcare, livelihoods, and infrastructure.

Industry Outlook

The cement industry is expected to sustain its growth momentum. The demand revival seen in Q3 has continued into Q4, placing the industry on track for growth of around 8% in FY26. Over the longer term, deeper ESG integration and wider adoption of technology‑enabled construction practices will shape how companies compete. Our R&D‑driven, customised cement solutions will continue to support higher Trade and Premium sales, leading to improved realisations. Our institutional customers will benefit from our focus on high‑quality, high‑strength and Green Cement, which has already been approved for use in highways, metro systems and other major structural projects. Adani Cement has grown at twice the industry average and will continue to maintain this leadership position. As we build on improvements in market share, premium mix and realisations, our cost‑leadership blueprint will provide further tailwinds to profitability.