Ambuja Cements (500425) Q4 24/25 earnings summary

Executive summary

• Achieved cement capacity exceeding 100 million tons, targeting 140 million tons by FY 2028 through organic and inorganic growth, including major acquisitions such as Penna and Orient Cement.

• Major leadership changes and board approvals, including new CEO, CFO, MD, and reappointment of independent directors.

• Integration of recent acquisitions progressing well, unlocking operational synergies and expanding reserves.

• Strong ESG focus, with SBTi-validated net-zero targets and strategic partnerships for zero-carbon process heating.

• Board approved audited results for FY25 with unmodified opinions and recommended a ₹2.00 per share dividend.

Financial highlights

• Q4 FY25 revenue at ₹9,889 crore, up 11% YoY; annual revenue at ₹35,045 crore, highest ever.

• Q4 EBITDA at ₹1,868 crore (19% margin), EBITDA per ton at ₹1,001; annual EBITDA at ₹5,971 crore.

• FY25 consolidated net profit at ₹5,158.41 crore, up from ₹4,734.63 crore in FY24.

• Cash and cash equivalents at ₹10,125 crore as of March 31, 2025; post-acquisition cash position at ₹5,043 crore.

• Remains debt-free with net worth at ₹64,000 crore, up from ₹50,000 crore YoY.

Outlook and guidance

• Targeting 118 million tons capacity by FY 2026 and 140 million tons by FY 2028, with clear project blueprints and land acquisitions underway.

• Cost reduction roadmap to achieve ₹3,650 per ton by FY 2028, with significant progress already made.

• Premium product share targeted to reach 35% by FY 2026, up from 29% in Q4.

• Capex for FY 2026 expected at ₹9,000 crore, funded by internal accruals and cash.

• Dividend payout and continued investment in new projects signal confidence in future cash flows.