UltraTech Cement Managing Director Kailash Chandra Jhanwar will take over as non-executive vice chairman from January 1, 2027, following the completion of his current term on December 31, the company said in an exchange filing on Monday.
KK Maheshwari, who currently holds the position, will step down as non-executive vice chairman from January 1, citing his current engagements and personal commitments.
The board changes come as the Aditya Birla Group company reported a 21.3% year-on-year rise in consolidated net profit to Rs. 1,494 crore in the July-September quarter of FY27, compared with Rs. 1,232 crore in the corresponding period last year.
Revenue from operations rose 19% year-on-year to Rs. 23,295 crore during the quarter, against ₹19,607 crore a year earlier. However, consolidated net profit declined around 43% sequentially from Rs. 2,599 crore in the June quarter, while revenue fell 5.5% from ₹24,655 crore.
Total consolidated expenses increased nearly 18% year-on-year to Rs. 21,339 crore during the quarter. Net profit margin stood at 7%, up from 6% in the year-ago quarter but down from 11% in the previous quarter. Operating profit margin remained unchanged at 16% year-on-year, compared with 21% in Q1 FY27.
Despite challenges from the monsoon and the ongoing West Asia crisis, UltraTech reported a nearly 14% increase in domestic grey cement sales volumes to 35.94 million tonnes in Q2 FY27, compared with 31.58 million tonnes a year earlier.
The company attributed the growth to disciplined execution, an expanded market presence, cost optimisation and a greater focus on premium products.
