**1. Business Performance:** Ambuja Cements delivered a strong Q2 FY26: cement volume rose 20% YoY to 16.6 MnT, and revenue grew 21% to Rs 9,174 crore.

It significantly outpaced industry average volume growth by 5x. **2. Growth Drivers or Strategy:** FY28 capacity target increased to 155 MTPA via low-cost debottlenecking.

Key strategies involve boosting premium product share with new blenders, optimizing existing capacity, and leveraging Adani ecosystem for cost leadership. **3. Recent Developments:** A new 4 MTPA kiln line at Bhatapara started trial runs, and a 2 MTPA Krishnapatnam GU is operational.

Renewable energy capacity hit 673 MW (targeting 1,122 MW by FY27). CiNOC (AI-powered operations) also launched. **4. Key Financial Metrics:** Q2 FY26 EBITDA jumped 58% YoY to Rs 1,761 crore (Rs 1,060 per tonne, +32% YoY). Profit After Tax (PAT) surged to Rs 2,302 crore, which includes a tax provision reversal.

The company remains debt-free. **5. Management Commentary / Outlook:** Management anticipates continued double-digit revenue growth and strong four-digit EBITDA per tonne.

Profitability will be driven by premiumization, cost optimization, and group synergies.