Expansion and Capacity Update

  • CAPEX for FY27 estimated at approximately INR 700 Cr including operational Capex
  • Cachar Grinding Unit commissioned on 19th February 2026
  • Roadmap to almost double capacities over next 3 years with total investment of INR 3,650 Cr

Expansion Project Details:

| Region | Project | Commissioning Year | Clinker Capacity (MTPA) | Cement Capacity (MTPA) | CAPEX Outlay (INR Cr) | FY27 Outlay (INR Cr) | FY28 Outlay (INR Cr) | FY29 Outlay (INR Cr) |

| East India | Bihar GU | FY28 | - | 2.0 | 650 | 150 | 350 | 150 |

| North India | Nimbol IU | FY29 | 3.3 | 3.0 | 2,250 | 350 | 950 | 650 |

| North India | Haryana GU | FY29 | - | 2.0 | 650 | 100 | 100 | 400 |

| Total | | | | | 3,650 | 600 | 1,400 | 1,200 |

  • Funding planned through internal accruals and debt financing
  • Target to maintain Net debt/EBITDA below 1.5x
  • Northeast expansion to be evaluated based on evolving market demand
  • Sufficient limestone reserves secured: ~80Mn tons with target to secure additional 40-50 Mn tons

Financial Highlights - Q4 FY26 vs Q4 FY25

| Metric | Q4 FY26 | Q4 FY25 | YoY Change |

| Cement Sales Volume (MnT) | 1.73 | 1.57 | 10% |

| Revenue from Cement & Clinker (INR Cr) | 1,174 | 1,052 | 11% |

| Other Revenue (INR Cr) | 9 | 5 | 81% |

| EBITDA (INR Cr) | 318 | 268 | 19% |

| Depreciation (INR Cr) | 99 | 87 | 13% |

| Interest (INR Cr) | 13 | 9 | 47% |

| Profit Before Tax (INR Cr) | 207 | 171 | 21% |

| Profit After Tax (INR Cr) | 147 | 123 | 20% |

| Gross Cash Accruals (INR Cr) | 246 | 211 | 17% |

| EBITDA per ton (INR/ton) | 1,838 | 1,748 | 5.2% |

| PBT per ton (INR/ton) | 1,193 | 1,119 | 6.7% |

| PAT per ton (INR/ton) | 849 | 804 | 5.6% |

Financial Highlights - Full Year FY26 vs FY25

| Metric | FY26 | FY25 | YoY Change |

| Cement Sales Volume (MnT) | 5.50 | 4.73 | 16% |

| Revenue from Cement & Clinker (INR Cr) | 3,776 | 3,163 | 19% |

| Other Revenue (INR Cr) | 19 | 11 | 73% |

| EBITDA (INR Cr) | 944 | 589 | 60% |

| Depreciation (INR Cr) | 365 | 332 | 10% |

| Interest (INR Cr) | 46 | 32 | 44% |

| Profit Before Tax (INR Cr) | 532 | 226 | 135% |

| Profit After Tax (INR Cr) | 390 | 169 | 131% |

| Gross Cash Accruals (INR Cr) | 756 | 501 | 51% |

| EBITDA per ton (INR/ton) | 1,717 | 1,245 | 38% |

| PBT per ton (INR/ton) | 968 | 477 | 103% |

| PAT per ton (INR/ton) | 710 | 357 | 99% |

Operational Performance Highlights

  • Highest ever Annual EBITDA of INR 944 Cr in FY26 vs INR 589 Cr in FY25 (60% YoY increase)
  • Northeast sales grew 2% YoY in Q4 FY26
  • Rest of East sales grew 32% YoY in Q4 FY26
  • Cement sales realizations grew 4.7% YoY in Q4 FY26
  • Premium sales at 15.1% of Trade sales in Q4 FY26 (up from 12.2% in Q4 FY25)
  • Utilization rates: New grinding unit in Guwahati at 95%, Siliguri Grinding Unit at 86%
  • Growth in Non-trade volumes ~25% YoY in Q4 FY26
  • Building Materials plant commissioned on 2nd June 2025 with revenue of INR 43 Cr

Cost Factors

  • West Asia crisis led to escalation in packing bags and diesel costs
  • Rake availability issues due to route restrictions by railways in NFR, leading to fuel cost escalations
  • Coal availability impacted
  • Power & Fuel: WHRS contribution increased to 27.4% of total power mix
  • High percentage of coal sourcing from FSA helped maintain low fuel costs
  • Fuel costs may rise in Q1 FY27 due to coal availability issues

ESG Goals & Targets

| Module | Target | Present Status |

| Green Energy | 60% by FY28 | Q4 FY26 at 33.8%; evaluating RE options including rooftop solar, behind-the-meter solar, Group Captive, Wind power; WHRS at 24.3MW (27.4% of total power) |

| Thermal Substitution Rate | 20% by FY27 | Target achieved; plan to maintain going forward |

| Water Positivity | 2x by FY28 | Currently 1.60x water positive with new water reservoir at Lumshnong; collaboration with communities for rainwater harvesting |

| Diversity & Inclusion | 12% women workforce by FY27 | Increased from 168 in July'23 to 246 in Mar'26 (8% to ~11% of permanent workforce) |

CSR and Social Initiatives

  • Srijani livelihood hub operating Agarbatti, Tailoring & Beautician units
  • STAR SAMARTH supports ~1,000 entrepreneurs through skill-building programs
  • STAR ANANYA empowers 35 women by converting rejected cement bags into carry bags
  • 7 Health & Eye Check-up camps organized in Assam with free medical support
  • Free spectacles distribution to villagers
  • Food security support to 80 specially abled persons and nutritional aid to 100 TB patients
  • Kala Mandir engaging 331 students
  • Computer Education on Wheels benefiting 1,700+ students across Assam and West Bengal
  • 15+ educational institutions undergoing infrastructure development
  • Construction & renovation of 50 rural projects across Assam & WB

Awards & Accolades

Q3 FY26 Awards:

  • Gold Award: Best Conference of the Year (International) ADC
  • Bronze award: Best Product Launch - Star Dhalai Master
  • Bronze award: Best Annual Dealers Meet, Malaysia 2025
  • Bronze award: Best Use of AI in Experiences under Red Carpet 2025

Q4 FY26 Awards:

  • Gold Award: Transformational Growth to Star Weather Shield
  • Silver Award: Best Use of TV for Har Ghar Mein Star
  • Bronze Award: Best Use of Omni Channel Marketing
  • Bronze Award: Brand Identity/Packaging - Star Waterproof

Brand Ambassador Associations

Collaboration with local sports celebrities as Brand Ambassadors:

1. Mirabai Chanu - Olympic medalist in Weight-lifting

2. Riyan Parag - Indian National Team Cricketer

3. Lovelina Borgoain - Olympic medalist in Boxing

4. Baichung Bhutia - Former Indian Team Football Captain

5. Association with Shillong Lajong FC

6. Association with Sikkim Football Association