Cement sales volume: 4.74 million tons in Q2FY27 vs. 4.4 million tons in Q2FY26 (8% growth)
Cement capacity utilization: 72% in Q2FY27 vs. 71% in Q2FY26
Construction chemicals sales volume: 2.04 lakh tons in Q2FY27 vs. 1.48 lakh tons in Q2FY26 (38% growth)
Financial Performance
Net revenue: ₹2,466 crores in Q2FY27 vs. ₹2,242 crores in Q2FY26 (10% YoY growth)
Construction chemicals revenue: ₹130.77 crores in Q2FY27 vs. ₹87.26 crores in Q2FY26 (50% growth)
EBITDA: ₹331 crores in Q2FY27 vs. ₹394 crores in Q2FY26 (16% decline)
Blended EBITDA per ton: ₹669 in Q2FY27 vs. ₹866 in Q2FY26
EBITDA ratio: 13% in Q2FY27 vs. 18% in Q2FY26
Profit before tax (including exceptional items): ₹52 crores in Q2FY27 vs. ₹100 crores in Q2FY26
Exceptional items: Profit of ₹5 crores from sale of surplus lands in Q2FY27
Cost Structure and Challenges
Mineral Bearing Land Tax impact: ₹33 crores (₹69 per ton) in Q2FY27 due to Tamil Nadu government levy of ₹160 per tonne of limestone effective 4 April 2025
Tax dispute: Company paid ₹8.61 crores under protest for period 22 August 2026 to 30 September 2026, not recognized as expense
Blended fuel consumption per ton: $140 (Cost per Kcal: ₹1.99) in Q2FY27 vs. $122 (Cost per Kcal: ₹1.49) in Q2FY26
Power and fuel cost per ton: ₹1,397 in Q2FY27 vs. ₹1,029 in Q2FY26
Green energy usage: 50% in Q2FY27 vs. 48% in Q2FY26
Interest cost: ₹93 crores in Q2FY27 vs. ₹111 crores in Q2FY26
Depreciation: ₹190 crores in Q2FY27 vs. ₹182 crores in Q2FY26
Cost drivers: West Asia war impacting imported fuel costs, rupee depreciation (10% YoY), domestic diesel prices (6% YoY increase), polymer prices (43% YoY increase)
Capital Expenditure (Capex)
Completed debottlenecking at Jayanthipuram: Increased capacity by 0.73 MTPA
Current total cement capacity: 27.17 MTPA
Planned capacity expansion: ~31 MTPA by March 2027 with commissioning of Line-2 at Kolimigundla
Kolimigundla clinkering unit: 3.15 MTPA capacity expected by December 2026
WHRS capacity: 15 MW at Kolimigundla to be commissioned with Line-2
Construction chemicals unit: 1.2 lakh tons p.a. capacity at Kolimigundla at cost of ₹20 crores, expected completion Q2FY28
Capex incurred in Q2FY27: ₹197 crores (including maintenance capex)
FY27 capex guidance: ₹800 crores
Disposal of Non-core Assets
Total monetization (past two years up to March 2026): ₹1,098 crores
