UltraTech Cement, India’s largest cement producer, reported a disappointing financial performance in the second quarter of the current financial year, with a 36% decline in consolidated net profit to ₹8.2 billion, missing analysts’ estimates of ₹10.53 billion. The downturn was driven by a combination of falling cement prices, weak demand due to prolonged monsoon rains and election-related slowdown, rising expenses, and competitive pressures in the cement market. Aggressive ₹12,000 crore capital expenditure plan to increase capacity is another reason that burdens the short term financially. In this article, these factors have been discussed; UltraTech’s challenges have been compared with ACC Ltd. to understand the latter’s future prospects as well.