Updates

17th August, 2026 BSE Limited The National Stock Exchange of India Limited Corporate Relationship Department Listing Department Scrip Code: 532538 Scrip Code: ULTRACEMCO Sub: Chairman’s Speech at the 26th Annual General Meeting of the Company Dear Sirs, Attached is the Chairman’s Speech delivered at the 26th Annual General Meeting of the Company held today, i.e, Monday, 17th August, 2026 at 3:00 p.m. (IST) through Video Conference / Other Audio Visual Means. This for your information and records please. Thanking You, Yours faithfully, For UltraTech Cement Limited Dhiraj Kapoor Company Secretary and Compliance Officer Encl: a/a Luxembourg Stock Exchange Singapore Exchange BP 165 / L – 2011 Luxembourg 2 Shenton Way, #02-02, SGX Centre 1, Scrip Code: US90403E1038 and Singapore 068804 US90403E2028 ISIN Code: US90403YAA73 and USY9048BAA18 UltraTech Cement Limited Registered Office : Ahura Centre, B – Wing, 2nd Floor, Mahakali Caves Road, Andheri (East), Mumbai 400 093, India T: +91 22 6691 7800 / 2926 7800 I F: +91 22 6692 8109 I W: www.ultratechcement.com/www.adityabirla.com I CIN : L26940MH2000PLC128420 UltraTech Cement Limited Chairman’s Speech Twenty-Sixth Annual General Meeting Monday, 17th August, 2026 – 3.00 pm through Video Conferencing Dear shareholders, The philosophy of the Aditya Birla Group is rooted in the belief that business can and must be “A Force for Good”. Through this philosophy, we aspire to create not only economic value, but also social value, and make a positive lasting impact on our stakeholders and the community at large. Our decades-long commitment to responsible and ethical business, together with our agility, strategic foresight, and focus on long-term value creation, continues to strengthen our role as a trusted partner in India's development. Trust is the cornerstone of any enduring business. This belief is reflected in the Aditya Birla Group’s theme for the year, which is “Built on Trust”. The relevance of Trust has never been greater than now. We live in increasingly uncertain times, when organisations must contend with volatile markets, complex supply chains and technological disruptions that can erode competitive advantages. Companies today are expected to deliver strong financial performance whilst creating long-term value through meaningful employment, responsible stewardship of natural resources and social development. Trust is the foundation that enables an organisation to navigate these increasingly complex expectations. For the Aditya Birla Group, trust is not limited to our strong relationships with our customers and partners. It is evident in our shareholders’ confidence in our ability to deliver sustainable growth, our employees’ commitment to rise with the company, and the faith reposed in us by our communities as partners in the nation’s economic and social progress. This trust has empowered us to invest through business cycles, undertake large- scale organic and inorganic expansions, and pursue transformation to emerge as a formidable competitive force and a global cement leader. Let me briefly touch upon the broader macro-economic context in which your Company is operating. The global economy withstood rising tariffs and geopolitical tensions in 2025 with major economies registering stable growth. Capital expenditure on AI infrastructure offset the pressures, with AI-driven trade propelling global trade volumes by a higher-than-expected 4.6%. Demand in emerging markets, fiscal and monetary expansion in advanced economies, and front-loading of imports in North America in anticipation of reciprocal tariffs from the United States further contributed to the expansion in global trade. However, the global economy faced a supply shock as conflict erupted in the Middle East in February 2026, causing damage to energy infrastructure and leading to the partial closure of the Strait of Hormuz. Moving to India In FY26, the Indian economy remained resilient despite trade policy uncertainty and mounting tariff pressures from the US. Robust domestic demand, low inflation and the government’s pro-growth policies boosted real GDP growth to 7.6%, higher than the previous year’s 7.1%. Two key policy measures – reduction in income tax and GST rate rationalisation – contributed to the 7.7% expansion in private consumption during the year. GDP growth was also supported by buoyancy in manufacturing, led by the automobiles and FMCG sectors, and the services sector, which saw demand from retail trade, hospitality, transportation and real estate. Crucially, the headline inflation rate fell from 4.7% in the previous year to an average of only 2% in FY26. Risks to India’s GDP growth have elevated in FY27 on account of higher energy prices and trade disruptions caused by the Middle East conflict. Nevertheless, India is expected to remain the fastest-growing major economy with the Reserve Bank of India projecting GDP growth at 6.6% for FY27. The country’s stable macroeconomic position with strong forex reserves and steady path to fiscal consolidation provide some buffer against external shocks. Private consumption, government capital expenditure, improved trade access owing to the recent free trade agreements, and a stable financial sector will support GDP growth in FY27. As for the cement sector, volumes are expected to grow 6-7% in FY27 on sustained demand from the housing and infrastructure sectors. Moving on to your Company’s performance FY26 performance overview Amid this macroeconomic landscape, your Company delivered a landmark performance in FY26. Consolidated net revenue rose 17% to a record Rs. 88,512 crores, while EBITDA advanced 32% to an all-time high of Rs. 17,598 crores. Profit after Tax grew 36% to Rs. 8,188 crores, crossing the Rs. 8,000 crores threshold for the first time in your Company's history. Grey cement sales volumes in India reached 145.0 million tonnes for the year, while demand stayed resilient across housing, infrastructure and commercial construction. This performance was matched by exceptional balance-sheet strength. Operating cash flows grew a remarkable 50% year-on-year to Rs. 14,398 crores — the strongest in your Company's history — while Net Debt-to-EBITDA improved to a healthy 0.942x as at 31st March, 2026, even as your Company continued to fund its ambitious growth programme substantially through internal accruals. 2026 will also be remembered as the year your Company crossed a defining milestone. In April, your Company commissioned 8.7 MTPA of additional grey cement capacity, taking its total cement capacity beyond the landmark 200 MTPA mark in India. No other Indian company in any sector has achieved this scale. Your Company is now the largest cement company in the world by capacity and by sales volumes, outside of China. The 200 MTPA milestone further strengthens our ability to serve our customers with enhanced scale, reach and reliability, while also contributing to India’s vision of becoming a developed economy by the year 2047. Maintaining this momentum on long-term value creation, we have committed investments of Rs.16,000 crore to increase our total cement capacity to over 240 MTPA by FY28. We are also on schedule to launch our Wires and Cables business by the third quarter of FY27. This will further strengthen our portfolio of building materials. The trust reposed in us by our channel partners and customers as a reliable provider of building solutions is reflected in the fact that UltraTech has been ranked 7th amongst India’s most valuable brands by the Kantar Brand-Z 2025 report. Q1FY27 performance Let me now briefly touch upon your Company's performance in the first quarter of FY27. Your Company has begun the new financial year on a strong note, with broad- based growth across revenues, profitability as well as volumes. Consolidated net sales rose 16% to Rs. 24,465 crores, compared with Rs. 21,040 crores in the same period last year. Profit before interest, depreciation and tax incr [Showing first 8,000 characters — download PDF for full document]