India Cements Limited

Financial Results Overview

Standalone Performance (Quarter ended September 30, 2026):

  • Revenue from Operations: ₹1,142.03 crore (Q2 FY26: ₹1,117.05 crore)
  • Total Income: ₹1,145.45 crore (Q2 FY26: ₹1,146.04 crore)
  • Profit Before Tax: ₹52.31 crore (Q2 FY26: ₹10.48 crore)
  • Profit After Tax: ₹38.85 crore (Q2 FY26: ₹14.93 crore)
  • Basic EPS: ₹1.25 (Q2 FY26: ₹0.48)

Standalone Performance (Half-Year ended September 30, 2026):

  • Revenue from Operations: ₹2,161.45 crore (H1 FY26: ₹2,141.79 crore)
  • Profit Before Tax: ₹87.88 crore (H1 FY26: ₹0.47 crore)
  • Profit After Tax: ₹65.47 crore (H1 FY26: ₹7.40 crore)
  • Basic EPS: ₹2.11 (H1 FY26: ₹0.24)

Consolidated Performance (Quarter ended September 30, 2026):

  • Revenue from Operations: ₹1,142.03 crore
  • Profit After Tax: ₹38.82 crore (Q2 FY26: ₹8.81 crore)
  • Basic EPS: ₹1.25 (Q2 FY26: ₹0.28)

Consolidated Performance (Half-Year ended September 30, 2026):

  • Profit After Tax: ₹65.67 crore (H1 FY26: loss of ₹124.08 crore)
  • Basic EPS: ₹2.12 (H1 FY26: loss of ₹4.00)

Key Financial Metrics

As of September 30, 2026 (Standalone):

  • Paid-up Equity Share Capital: ₹309.90 crore
  • Net Worth: ₹10,091.49 crore
  • Debt-Equity Ratio: 0.16 times
  • Current Ratio: 0.76 times
  • Operating Margin: 12.66% (Q2), 13.89% (H1)
  • Net Profit Margin: 3.39% (Q2), 3.02% (H1)

Commercial Paper Activities

During the quarter:

  • Redeemed ₹100 crore commercial paper issued in Q1 FY26 at 6.85% p.a.
  • Issued ₹100 crore commercial paper due December 23, 2026 at 6.40% p.a.
  • Issued ₹100 crore commercial paper due December 11, 2026 at 6.32% p.a.
  • All papers rated CARE A1+ by CARE Ratings

Balance Sheet Position (Standalone)

Assets (September 30, 2026):

  • Total Assets: ₹13,654.78 crore
  • Property, Plant & Equipment: ₹11,034.69 crore
  • Capital Work-in-Progress: ₹951.59 crore
  • Inventories: ₹714.60 crore
  • Cash & Cash Equivalents: ₹7.88 crore

Liabilities & Equity:

  • Total Equity: ₹10,091.49 crore
  • Non-current Borrowings: ₹1,057.68 crore
  • Current Borrowings: ₹563.34 crore
  • Total Liabilities: ₹3,563.28 crore

Cash Flow Statement (Standalone H1 FY27)

  • Cash from Operating Activities: ₹307.55 crore
  • Cash used in Investing Activities: ₹581.75 crore
  • Cash from Financing Activities: ₹268.61 crore
  • Net decrease in Cash: ₹5.59 crore

Legal Contingencies

Asset Attachment Matter:

  • ₹120.34 crore assets attached vide provisional order dated February 25, 2015
  • ₹3.35 crore assets released against bank guarantee (July 9, 2026 order)
  • Matter sub-judice before legal forums

CCI Penalty Matter:

  • ₹187.48 crore penalty imposed by CCI vide order dated August 31, 2016
  • ₹18.75 crore (10%) deposited as per NCLAT interim order
  • NCLAT dismissed appeal on July 25, 2018
  • Appeal admitted by Supreme Court on October 5, 2018
  • Interim stay continues pending final outcome

Audit Details

  • Financial results reviewed by Brahmayya & Co. and S. Viswanathan LLP
  • Limited review report issued with emphasis on legal contingencies
  • Board meeting held on October 17, 2026 (3:15 PM to 3:45 PM)
  • Mr. K.C. Jhanwar authorized to sign financial results

Subsidiaries Included in Consolidation

1. Industrial Chemicals and Monomers Limited

2. Coromandel Minerals Pte. Ltd, Singapore

3. PT Coromandel Minerals Resources, Indonesia

4. PT Adcoal Energindo, Indonesia (up to December 2, 2025)

5. Raasi Minerals Pte. Ltd, Singapore

6. Trinetra Cement Limited

Additional Information

  • Company primarily engaged in cement manufacturing
  • Previous periods' figures regrouped for consistency
  • Results available on company website: www.indiacements.co.in
  • Filed with BSE, NSE, and Luxembourg Stock Exchange