Synopsis: India’s leading cement companies are expanding capacity, improving efficiency, and focusing on sustainability. UltraTech leads the sector, while Ambuja and others are scaling operations through expansions, acquisitions, and green energy initiatives.
The cement industry in India is one of the most important sectors supporting infrastructure and construction growth. It is characterised by large-scale production capacities, continuous expansion, and strong demand driven by housing, roads, and urban development.
In recent years, companies in this sector have been focusing on increasing capacity, improving operational efficiency, and expanding distribution networks. There is also a growing emphasis on sustainability through renewable energy adoption and reducing carbon emissions in manufacturing processes.
In Union Budget 2026–27, the Government has allocated a record Rs. 12.2 lakh crore (US$ 138.04 billion) towards capital expenditure, aimed at boosting infrastructure development across roads, railways, logistics, urban infrastructure, and industrial corridors. This large-scale spending is expected to significantly support demand for cement, benefiting manufacturers across the country.
In the railway sector, Indian Railways has approved projects covering over 6,000 km of network with a planned investment of Rs. 1.53 lakh crore (US$ 17.31 billion). These projects focus on capacity expansion, connectivity improvement, and freight efficiency, which are likely to generate incremental cement demand from large-scale infrastructure construction.
Additionally, states like Odisha are attracting private investments in the cement sector, with approvals for new plants by NCL Industries Limited and Dalmia Bharat Limited worth Rs. 2,000 crore each. These investments are expected to create employment opportunities and further strengthen regional cement supply capacity.
Dalmia Bharat Ltd
Dalmia Bharat Ltd is one of India’s leading cement producers with a strong presence in the eastern and southern regions. The company focuses on blended cement and sustainable manufacturing, and has been steadily expanding its capacity while maintaining a relatively low-carbon footprint compared to peers.
With a market capitalisation of Rs. 33,564 cr, the shares of Dalmia Bharat Ltd closed at Rs. 1789.50 per share, up from its previous close of Rs. 1,746.80 per share. This company is a major player in the cement industry and ranks as the 4th largest cement producer. It reports net sales of Rs. 14,804 crore with an EBITDA of Rs. 3,083 crore, supported by a workforce of around 5,864 employees.
The company also has a significant focus on sustainability with about 449 MW of renewable energy capacity. It generates a profit after tax of Rs. 1,157 crore. With a robust production capacity of 49.5 million tonnes of cement, it plays a key role in meeting infrastructure and construction demand.
UltraTech Cement Ltd
UltraTech Cement Ltd is the largest cement company in India by capacity and a part of the Aditya Birla Group. It has a pan-India presence with an extensive distribution network and continues to lead the industry through aggressive capacity expansion and acquisitions. With a market capitalisation of Rs. 3,41,088 cr, the shares of UltraTech Cement Ltd closed at Rs. 11574.90 per share, up from its previous close of Rs. 11,481.20 per share.
In Q4FY26, the company delivered strong operational and financial performance, with domestic grey cement volume rising to 42.41 MTPA (up 9.3% YoY). Consolidated revenue grew to Rs. 25,467 crore (up 11.8% YoY), supported by improved pricing and demand, while operating EBITDA per tonne increased to Rs. 1,253 (up Rs. 127/t YoY).
On the operational and sustainability front, the company expanded its grey cement capacity by 2.7 MTPA, taking total capacity to 196.8 MTPA, along with a rise in UBS outlets to 5,568 (up 21% YoY) and improved logistics efficiency with lead distance reduced to 367 km.
The company also strengthened its green energy portfolio, increasing WHRS capacity to 414 MW (up 18% YoY) and renewable power capacity to 1.39 GW (up 36% YoY), with the green power mix improving to 43%, highlighting its strong push toward sustainable operations.
Ambuja Cements Ltd
Ambuja Cements Ltd operates as part of the Adani Group and is known for its strong brand and efficient operations. It has a significant presence in western and northern India and is focused on scaling up capacity while improving cost efficiency and logistics integration. With a market capitalisation of Rs. 1,07,858 cr, the shares of Ambuja Cements Ltd closed at Rs. 436.35 per share, down from its previous close of Rs. 436.80 per share.
As of 31st March, the company’s cement capacity stands at 109 MTPA, supported by recent expansions including a 3 MTPA clinker line at Jodhpur and trial operations for a 1.2 MTPA grinding unit at Dahej (GU Line 2). Several new projects are scheduled for commissioning in H1FY27, including grinding capacities across Dahej, Bhatinda, Salai Banwa, Kalamboli, Jodhpur, and Warisaliganj, along with an additional 4 MTPA clinker unit at Maratha, which will take total capacity to around 119 MTPA.
On the operational front, the company is now focusing on stabilising newly commissioned assets and improving utilisation levels across the network. Overall capacity utilisation improved by 5% sequentially to 77%, while the Sanghi plant saw a significant jump from 43% in Q4FY25 to 57% in Q4FY26. Going forward, efforts are being made to enhance the machine reliability of acquired assets and raise overall utilisation further from 77% to a target of 85%, improving efficiency and profitability.
Nuvoco Vistas Corporation Ltd
Nuvoco Vistas Corporation Ltd is part of the Nirma Group and is among the newer listed cement players in India. It has a strong footprint in eastern India and focuses on building a balanced mix of cement and ready-mix concrete (RMC) businesses, along with ongoing capacity expansion plans. With a market capitalisation of Rs. 11,436 cr, the shares of Nuvoco Vistas Corporation Ltd closed at Rs. 320.20 per share, down from its previous close of Rs. 329.20 per share.
The company currently has a cement capacity of 25 MMTPA (million metric tonnes per annum) on a standalone operational basis, which expands to 35 MMTPA when including Vadraj Cement Ltd. and the planned expansion in the eastern region. This reflects the company’s ongoing growth strategy through both organic expansion and acquisitions.
On the clinker side, which is a key intermediate product in cement manufacturing, the company has an operational capacity of 13.5 MMTPA, increasing to 17 MMTPA when including Vadraj Cement Ltd. This shows its integrated production strength and its focus on scaling up capacity to support future cement demand.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
The post Top 4 Cement Stocks and Their Current Manufacturing Capacities to Look Out For appeared first on Trade Brains.