• The document contains the transcript of an Investor and Analyst Conference Call held on July 14, 2026, discussing the Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026 (Q1 FY27).
  • The conference call was scheduled after the earnings announcement, as referenced by previous letters dated June 30, July 12, July 13, and July 14, 2026.
  • Management participants included Mr. Jayakumar Krishnaswamy (Managing Director), Mr. Maneesh Agrawal (Chief Financial Officer), and Mr. Bishnu Sharma (Head of Investor Relations).
  • The transcript is available on the Company's website at www.nuvoco.com.

Financial & Operational Highlights from Transcript:

Q1 FY27 Performance:

  • Volume grew 5% YoY to 5.3 million tons
  • EBITDA increased 7% YoY to INR572 crores (highest-ever first quarter)
  • Realization increased by INR320 per ton QoQ (Q1 vs Q4)
  • Net debt reduced to INR4,595 crores from INR5,274 crores YoY

Capacity Expansion Updates:

  • Inaugurated 2 MTPA grinding capacity at Surat on July 11, 2026 (ahead of schedule)
  • Kutch clinker unit progressing well, targeted for phased operationalization from Q3 FY27
  • Kutch grinding unit civil works targeted for completion by Q2 FY27
  • Commenced work on bulk cement terminal at Sachana, Gujarat (targeted operational by Q2 FY28)
  • East operations: Plan to add 4 MTPA capacity in phases till FY28

Cost Management:

  • Fuel cost contained at INR1.52 per mcal (within guided range)
  • Petcoke usage reduced from 37% in Q4 to 27% in Q1 through fuel mix optimization
  • Coal usage increased from 53% in Q4 to 67% in Q1

Market Outlook & Challenges:

  • Positive outlook on cement demand supported by 13% YoY increase in Central Government capex to INR2.5 lakh crores (through May 2026)
  • Faced challenges from geopolitical tensions (West Asia conflict), logistical constraints (railway rake prioritization for power sector), and state elections in key Eastern states

Guidance:

  • FY27 capex guidance maintained at INR900 crores (INR370 crores spent in Q1)
  • FY28 capex expected to be INR950-1,000 crores
  • Targeting 7-8% volume growth for FY27

Additional Notes Section

  • The document is a compliance filing containing the full transcript of the earnings conference call.
  • The transcript includes detailed financial figures, operational updates, and management commentary from the Q&A session.
  • No unattached presentations or additional materials were mentioned in this specific filing.
  • The company did not include any specific disclaimer about sharing unpublished price sensitive information (UPSI) in this transcript.