Event Type: Q2 FY27 Earnings Conference Call held on November 06, 2026

Date and Time: November 06, 2026 (time not specified in transcript)

Purpose: Discussion of unaudited financial results for quarter and half year ended September 30, 2026, operational performance update, and Q&A session with analysts

Management Participants:

  • Mr. Jayanta Basu – Managing Director
  • Mr. Nitesh Sharma – Chief Financial Officer
  • Mr. Rahul Agarwal – Head, Investor Relations

Moderator: Mr. Mohit Kumar from ICICI Securities

Presentation Availability: The full transcript was made available on the company website at https://www.cemindia.co.in/wp-content/uploads/2026/11/ConcallTranscriptQ2FY27101126.pdf

Financial Period Discussed: Q2 FY27 (quarter ended September 30, 2026) and H1 FY27 (half year ended September 30, 2026)

Key Financial Highlights:

  • Q2 FY27 Total Operating Income: INR2,749 crores (up 25% YoY from INR2,195 crores in Q2 FY26)
  • Q2 FY27 EBITDA: INR280 crores (up 15% YoY from INR243 crores)
  • Q2 FY27 EBITDA Margin: 10.2% (vs 11.1% in Q2 FY26)
  • Q2 FY27 PAT: INR131 crores (up 21% YoY from INR108 crores)
  • H1 FY27 Total Operating Income: INR5,470 crores (up 15% YoY from INR4,772 crores)
  • H1 FY27 EBITDA: INR565 crores (up 12% YoY from INR504 crores)
  • H1 FY27 EBITDA Margin: 10.3% (vs 10.6% in H1 FY26)
  • H1 FY27 PAT: INR271 crores (up 10.8% YoY from INR245 crores)
  • Net Worth as of September 30, 2026: INR2,619 crores
  • Net Debt: INR773 crores
  • Net Debt-to-Equity Ratio: 0.3x

Strategic Updates and Developments:

  • Successfully raised INR1,400 crores through QIP issuing 1.26 crore equity shares at INR1,108 per share
  • Received credit rating upgrades: ICRA (AA Stable), CARE (AA- Stable), CRISIL (AA Stable)
  • Strong order inflow momentum: INR5,968 crores secured since start of quarter (INR3,487 crores in Q2 FY27 + INR2,481 crores in October 2026)
  • Order book at all-time high of INR32,715 crores, diversified across eight business areas
  • Order book composition: Maritime structures, urban infra, MRTS and airports, industrial structures and buildings account for 62%, data centers contribute 15%

Forward-looking Statements and Guidance:

  • Maintained revenue growth guidance of 20-25% for FY27
  • Maintained EBITDA margin guidance of 10%+
  • Order inflow target of INR25,000 crores for FY27 (expected to be exceeded)
  • Pipeline of external projects: ~INR1.3 lakh crores across various segments
  • Expected CAGR of 25% on top line for next three years

Operational Highlights:

  • Vadhavan Port work recommenced after 1.5-year delay
  • Major projects like CMRL, Bengaluru Metro, Udangudi completed/handed over
  • Bangladesh project substantially completed with payments received
  • New projects started: Pune Metro, Delhi Metro, marine work at Jatadhari Port
  • Received INR85 crores arbitration award in Udangudi project

Capital Expenditure Outlook:

  • H1 FY27 capex: INR150 crores
  • H2 FY27 expected capex: INR150-200 crores normally, but could reach INR1,500 crores if large TBM projects materialize
  • Major capex deployment expected in FY28 for large tunnel boring machines

Additional Notes Section

Attachments: The regulatory filing included the full transcript of the earnings conference call

Financial Data Disclosure: The announcement contained detailed financial results for Q2 and H1 FY27, including income statement metrics, balance sheet position, and order book details

Compliance Language: The management noted that the discussion may include forward-looking statements subject to risks and uncertainties, and the company undertakes no obligation to update these statements publicly