Guidance ledger · Q4 FY26

Ambuja Cements Ltd AMBUJACEM

3 revisions on record · 3 lowered · 0 raised — the strikethrough is what management used to say

mixed guidance posture · shifted across quarters

Holding view → · latest concall · The pulse

↓ lowered FY28 cement capacity target / timeline Q2 FY26 → Q4 FY26

~~155 million tonnes by FY28~~ → 155 million tonnes by FY30 (timeline pushed; target preserved)

“the target plans of FY '28, it could move a year or 2, let us say, on a safer side, I would say that FY '30.”

↓ lowered FY26 exit cement capacity Q3 FY26 → Q4 FY26

~~118 million tons (Q2FY26) / 115 million tons (Q3FY26)~~ → 109 million tons actual FY26 + 119 million tons FY27 target

“We are expecting to hit capacity of almost 119 million tonnes by end of FY '27.”

↓ lowered Total cost per ton trajectory Q2 FY26 → Q4 FY26

~~INR4,000 by Mar'26, INR3,800 by Mar'27, INR3,650 by Mar'28 staircase~~ → INR4,500 peak, INR250 reduction per year (FY27 INR4,250 avg, FY28 INR4,000 avg)

“INR4,500 is the peak and this INR250 reduction is from here. So essentially, then it would mean INR4,250 as a target for '27.”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.