Financial Performance Highlights (FY 2025-26 vs FY 2024-25)

  • Sales Volumes: 4.912 million tonnes (up 8.8% from 4.515 million tonnes)
  • Total Revenue: ₹23,613 million (up 8.4% from ₹21,944 million); Revenue from operations: ₹23,295.9 million
  • EBITDA: ₹3,186 million (up 19.8% from ₹2,849 million)
  • EBITDA Margin: 14% (up from 13%)
  • Profit Before Tax: ₹1,838 million (up 26.1% from ₹1,458 million)
  • Profit After Tax: ₹1,340 million (up 25.5% from ₹1,068 million); Net profit: ₹1,339.7 million
  • EPS: ₹5.9 (up from ₹4.7)
  • Cash & Bank Balance: ₹4,078 million (down from ₹4,536 million)

Capital Structure and Debt Position

  • Achieved debt-free status after repaying final tranche of ₹687 million interest-free loan to Uttar Pradesh Government
  • Long-term Borrowings: ₹0 million (down from ₹0 million)
  • Short-term Borrowings: ₹0 million (down from ₹649 million)
  • Debt Equity Ratio: 0:1 (down from 0.05:1)
  • Shareholders' Funds: ₹13,719 million (down from ₹13,952 million)
  • Authorized share capital: 23,00,00,000 equity shares of ₹10 each (₹2,300 million)
  • Paid-up equity share capital: 226,613,116 shares of ₹10 each fully paid (₹2,266.1 million)

Dividend Declaration

  • Board recommended dividend of ₹7 per share (70%) for FY26
  • Dividend amount: ₹1,586.3 million
  • Since PAT is ₹1,339.7 million, ₹246.6 million will be withdrawn from accumulated profits

Operational Highlights

Sustainability Performance

  • Thermal Substitution Rate: 10.63% (up from 8.1% in FY25)
  • Green Power Consumption: 43% of total power (up from 36%)
  • CO2 Emissions: 496 kg/tonne of cement (down from 530 kg/tonne)
  • Water Positivity: 4.17 times (replenished more than consumed)
  • Plastic Negative: 5.91 times (42,017 tonnes co-processed vs 7,112 tonnes generated)

Production and Capacity

  • Total Cement Grinding Capacity: 6.26 MTPA
  • Composite Cement Contribution: 23-25% of total sales
  • Clinker Factor Reduction: From 61% to 41% through product innovation

Capital Expenditure

  • FY26 Capex: ₹524 million invested in operational upgrades
  • Property, Plant and Equipment: Net book value of ₹13,772.2 million
  • Capital Work-in-Progress: ₹102.7 million
  • Capital commitments: ₹73.3 million remaining as of 31 March 2026

Provisions and Contingencies

Significant provisions include:

  • Provision for litigations: ₹2,193.8 million (2025: ₹2,155.4 million)
  • Provision for gratuity: ₹133.8 million net defined benefit liability
  • Provision for mine reclamation expenses: ₹33.5 million (2025: ₹42.8 million)
  • Provision for compensated absences: ₹97.1 million (2025: ₹79.5 million)

Contingent liabilities not provided for: ₹168.2 million comprising claims not acknowledged as debt (₹54.8 million), excise duty/service tax matters (₹29.7 million), and sales tax/trade tax matters (₹83.7 million).

Strategic Developments

Mining and Resources

  • Secured two limestone blocks in Madhya Pradesh with estimated 167 million tonnes reserves
  • Entered agreement with Government for new blending cum grinding unit in Central India
  • Long-term fly ash supply agreement with MP Power Generating Company for 600,000 tonnes annually

Digital Initiatives

  • HC DigiHub: Consolidated digital platform for automation and data analytics
  • SafetyZone: Digital safety monitoring application with GPS verification
  • HCScan2Join: Digital stakeholder engagement platform for contractors and masons
  • SAP Ariba Implementation: Enhanced procurement efficiency with 38% catalogue buying

Corporate Social Responsibility

  • CSR Spending: ₹36.22 million (exceeding statutory requirement of ₹34.0 million)
  • Beneficiaries: 21,600+ lives impacted
  • Focus Areas: Education, healthcare, livelihood enhancement, infrastructure development
  • Recognition: National Award for Excellence in CSR & Sustainability, Greentech CSR Award

Governance and Compliance

Board Composition

  • Total Directors: 6 (4 Non-Executive, 2 Executive)
  • Independent Directors: Ms. Jyoti Narang (Chairperson), Mr. Atul Khosla
  • Board Meetings: 5 meetings held during FY26

Committee Structure

  • Audit Committee: Mr. Atul Khosla (Chairman), Ms. Jyoti Narang, Mr. Vimal Kumar Choudhary
  • CSR Committee: Ms. Jyoti Narang (Chairperson), Mr. Atul Khosla, Mr. Joydeep Mukherjee, Mr. Vimal Kumar Jain
  • All committees met regularly with full attendance

Risk Factors

  • Geopolitical uncertainties affecting energy and commodity prices
  • Intense competition in cement industry
  • Input cost volatility (fuel, logistics, raw materials)
  • Regulatory changes and compliance requirements

Outlook and Guidance

Management remains cautiously optimistic despite challenging environment:

  • Strong underlying demand from infrastructure and housing sectors
  • Focus on premium products, cost optimization, and sustainability initiatives
  • Continued investment in digital transformation and operational efficiency

Important Dates

  • AGM Date: 24 September 2026
  • Record Date for Dividend: 11 September 2026
  • Dividend Payment: Within 30 days of AGM approval
  • E-voting period: 21 September 2026 (9:00 AM) to 23 September 2026 (5:00 PM)