UltraTech Cement announces board reshuffle; KC Jhanwar to become non-executive

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The Economic Times daily newspaper is available online now. Read Today's Paper UltraTech Cement announces board reshuffle; KC Jhanwar to become non-executive vice chairman from January 1ET OnlineLast Updated: Oct 19, 2026, 02:16:00 PM ISTSynopsis

UltraTech Cement on Monday announced a board reshuffle, with Managing Director Kailash Chandra Jhanwar set to become non-executive vice chairman from January 1, 2027, replacing KK Maheshwari, who will step down citing personal commitments.

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Loading...×UltraTech Cement on Monday announced changes to its board, with Managing Director Kailash Chandra Jhanwar set to take over as non-executive vice chairman from January 1, 2027, following the completion of his term on December 31. The company also said KK Maheshwari will step down as non-executive vice chairman effective January 1, citing current engagements and personal commitments, according to an exchange filing.

The company reported a consolidated net profit of Rs 1,494 crore for the July-September quarter of the ongoing financial year 2027, marking more than 21% jump from the Rs 1,232 crore net profit reported in the year-ago period.

ALSO READ | UltraTech Cement Q2 Results: Net profit jumps 21% YoY to Rs 1,494 crore; revenue up 19%

UltraTech's revenue from operations increased 19% year-on-year to Rs 23,295 crore in Q2 FY27, from Rs 19,607 crore in the year-ago period. The shares of the company were seen trading 2% lower at Rs 10,690 apiece after the release of the results.

Sequentially, the company’s consolidated net profit fell around 43% quarter on quarter from Rs 2,599 crore. Revenue from operations dropped 5.5% QoQ from Rs 23,295 crore reported in the first quarter of the same financial year 2027.

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The heavyweight cement-maker’s total consolidated expenses meanwhile increased nearly 18% YoY and marginally sequentially to Rs 21,339 crore during the quarter under review. Its net profit margin stood at 7% in Q2 FY27, as compared to 6% in Q2 FY26 and 11% in Q1 FY27. Operating profit margin meanwhile remained flat at 16% on a YoY basis, but reduced from 21% recorded in the previous quarter.

UltraTech performed well despite headwinds on account of a monsoon-affected quarter and the ongoing west Asia crisis, the company said in its filing. It noted that domestic grey cement sales volumes rose nearly 14% to 35.94 million tonnes, from 31.58 million tonnes in Q2 FY26, supported by disciplined execution, a wider market footprint, cost optimisation and a sharper focus on premium products.
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