- Highest-ever quarterly cement volumes power 346% jump in normalised PAT
- Revenue rises 22% YoY as premium cement, RMX and pricing outpace peers
- EBITDA margin expands to 10.8% amid sharp focus on cost and green power
- Debt-free balance sheet, AAA rating and rising net worth underline financial strength
- ‘One Cement Platform’ merger with Ambuja set to unlock long-term synergies
- Digital, ESG and capacity expansion initiatives position ACC for sustained leadership
NE BUSINESS BUREAU
AHMEDABAD, JAN 28
ACC Limited, part of the diversified Adani Portfolio and among India’s fastest-growing building materials and solutions companies, delivered a robust and record-setting performance in Q3 FY26, marked by its highest-ever quarterly sales volumes, strong profitability growth and a visibly stronger balance sheet.
For the quarter ended 31 December 2025, ACC reported a 346% year-on-year jump in normalised Profit After Tax (PAT) to ₹380 crore, driven by superior realisations, expanding premium product mix, sharp operational execution and disciplined cost management. Revenue on a normalised basis rose 22% YoY to ₹6,483 crore, while cement volumes climbed 15% YoY to an all-time high of 11.3 million tonnes.
The strong operating momentum coincided with the landmark announcement of the amalgamation of ACC Limited with Ambuja Cements Limited, creating a unified ‘One Cement Platform’ aimed at accelerating growth, improving capital efficiency and reinforcing industry leadership over the long term.
CEO: Growth Momentum, Premiumisation and Efficiency Drive Results
Commenting on the performance, 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.”
He highlighted ACC’s sharp focus on cost levers and sustainability:
“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.”
On the strategic significance of the merger, he added:
“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.”
Bahety also underscored the company’s digital and operational backbone:
“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.”
On market positioning and stakeholder support, he said:
“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.”
Revenue and Volume Leadership
ACC’s revenue leadership in Q3 FY26 was anchored in strong brand equity, agile supply-chain execution and rising premiumisation.
- Highest-ever quarterly cement volume: 11.3 million tonnes (up 15% YoY)
- Highest-ever quarterly revenue (normalised): ₹6,483 crore (up 22% YoY)
- Premium products as % of trade sales: 43%
- Premium cement volumes: up 33% YoY
- Price realisation: ₹11 per bag higher than peers
The Ready Mix Concrete (RMX) business delivered standout growth, with volumes rising 36% YoY to 0.97 million cubic metres, the highest ever for the company.
Cost Leadership and Margin Expansion
ACC continued to advance on its cost optimisation journey across raw materials, power & fuel, and logistics:
- Kiln fuel cost: Reduced 1% YoY in Q3
- Power cost: Down 1% YoY to ₹5.95/kWh
- Green power share: Increased by 12.6 percentage points to 31.3%
- WHRS power share: Increased to 17.2%
- Primary lead distance: Reduced to 262 km
- Direct dispatch: Increased to 52%
As a result, Operating EBITDA stood at ₹700 crore, with EBITDA per tonne at ₹619 and EBITDA margin expanding to 10.8%, up 1.82 percentage points YoY on a normalised basis.
Strong Financial Position and Balance Sheet
ACC’s financial strength remained a key highlight:
- EPS (Diluted): ₹21.5 for Q3 FY26
- Net worth: ₹20,326 crore, up ₹389 crore during the quarter
- Debt-free status maintained
- Highest credit ratings: CRISIL and CARE – AAA (Stable) / A1+
An exceptional expense of ₹50 crore was recognised during the quarter due to the implementation of the new Labour Code, covering additional gratuity and leave encashment obligations.
Growth Platform and Capacity Expansion
ACC’s growth roadmap remains firmly on track:
- Grinding units:
- Salai Banwa – 2.4 MTPA
- Kalamboli – 1.0 MTPA
(Both expected to be commissioned in Q4 FY26)
- One Cement Platform:
- Amalgamation with Ambuja Cements to create a pan-India cement powerhouse
- Expected to optimise manufacturing, logistics and capital allocation
- Completion subject to statutory approvals, targeted over FY27
Digital, ESG and Industry Leadership
Strategic initiatives continued to gain scale:
- CiNOC (Cement Intelligent Network Operating Centre) empowering sales teams with smart digital tools
- Adani Cement FutureX engaging over 750 institutions and impacting 1.3 million students, the largest industry-academia initiative in the sector
- Strengthened partnerships with CREDAI, NAREDCO, BAI, Indian Concrete Institute, CTBUH, Indian Institute of Architects and others
On sustainability, ACC delivered standout ESG outcomes:
- S&P Global CSA score: 89/100
- CDP rating: ‘A’ for Climate Change and Water Security
- First Indian cement company (with Ambuja) to adopt TNFD framework
- Participation in global carbon capture and low-carbon technology pilots
