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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
UltraTech Cement Ltd

UltraTech Cement: CARE Ratings reaffirms CARE AAA; Stable on bank facilities

RATING ▲ Positive Development LOW RISK
📅 Filed on BSE: 25 Jun 2026, 04:25 PM IST  ·  BSE ID: 9167572f-a247-4df1-ab9c-bb852dce640a
View Original BSE Filing (PDF)
💡
In Simple Terms
Credit agency CARE Ratings confirmed UltraTech Cement's top credit score, showing confidence in its financial health and market strength.
🤖 AI Summary
  • UltraTech Cement's bank facilities reaffirmed highest 'CARE AAA; Stable' and 'CARE A1+' ratings by CARE Ratings.
  • Ratings cite sustained market leadership, largest installed cement capacity of 200.1 million tonnes per annum (MTPA) as of April 2026.
  • Company plans to add ~37 MTPA capacity by FY28-end, aiming for over 242.5 MTPA total installed capacity.
  • Net debt to PBILDT improved to 1.38x as of March 31, 2026, from 1.89x year-on-year.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Long-term bank facilities
2,400.00 crore
Long-term / Short-term bank facilities
14,700.00 crore
India Installed Cement Capacity
200.1 million tonnes per annum (MTPA)
Planned Capacity Addition by FY28-end
~37 MTPA
Net debt to PBILDT (as of March 31, 2026)
1.38x
Net debt to PBILDT (as of March 31, 2025)
1.89x
🏢 How This Affects the Company
📈
Business Impact
The reaffirmation of the highest credit ratings supports UltraTech Cement's market leadership position and its ability to fund future growth initiatives, including capacity expansion.
💰
Financial Impact
Maintaining strong credit ratings facilitates access to debt financing at favourable terms, supporting UltraTech Cement's robust financial profile and healthy capital structure. Improved debt coverage ratios enhance financial resilience.
⚙️
Operational Impact
The ratings reflect ongoing capacity expansion plans totaling ~37 MTPA by FY28-end and strategic investments in green power and Waste Heat Recovery Systems to enhance energy efficiency.
⚠️
Risk Impact
The ratings acknowledge ongoing industry cyclicality and input cost volatility, though these are partially mitigated by inventory management and energy efficiency initiatives.
👥 What This Means For Shareholders
✅
Action Required
No specific action is required from shareholders based on this rating reaffirmation.
👤
Who Is Affected
All shareholders benefit from the company's maintained strong creditworthiness, which supports its long-term financial stability and growth prospects.
🔍
Management Signal
The reaffirmation signals management's continued focus on maintaining a robust financial structure and strategic capacity growth to solidify market leadership.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List — track these upcoming events
Updates on capacity expansion progress towards FY28 targets.
Future financial results detailing debt coverage metrics.
Management commentary on input cost trends and mitigation strategies.
LOW RISK The highest credit ratings reaffirm strong financial stability despite acknowledged industry risks.
💡 Investor Takeaway
UltraTech Cement's bank facilities retained top 'CARE AAA; Stable' ratings, affirming market leadership, significant capacity expansion plans, and a strengthened financial profile with improved debt coverage.
⚖️ Strengths & Concerns

✅ Positives

  • Sustained market leadership with India's largest installed cement capacity of 200.1 million tonnes per annum (MTPA) as of April 2026.
  • Net debt to PBILDT improved to 1.38x as of March 31, 2026, from 1.89x on March 31, 2025, indicating stronger debt coverage.

⚠️ Concerns

  • Exposure to cyclicality in the cement industry and volatility in input costs and realisations remains a noted concern.
  • Ongoing geopolitical tensions may lead to volatility in pet coke prices, impacting operating costs.
📅 Company Track Record
Previously, CARE Ratings had reaffirmed the highest AAA/Stable rating on UltraTech's ₹17,100 crore bank facilities in April 2026, with net debt/PBILDT projected to improve to 1.3x in FY26.

Based on publicly available historical data. For context only.

❓ Frequently Asked Questions
What credit ratings did CARE Ratings reaffirm for UltraTech Cement?
CARE Ratings reaffirmed 'CARE AAA; Stable' on long-term bank facilities and 'CARE AAA; Stable / CARE A1+' on long-term/short-term bank facilities.
What is UltraTech Cement's current installed cement capacity?
UltraTech Cement has the largest installed cement capacity in India, standing at 200.1 million tonnes per annum (MTPA) as of April 2026.
How has UltraTech Cement's debt coverage improved?
Net debt to PBILDT improved to 1.38x as of March 31, 2026, from 1.89x as of March 31, 2025.
What are UltraTech Cement's future capacity expansion plans?
The company plans to add approximately 37 MTPA of cement capacity, aiming for a total installed capacity of over 242.5 MTPA by the end of FY28.

Questions based on this BSE filing only. For information purposes.

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⚠️ For Information Only — Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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