Financial Performance Q1 FY27 Consolidated

Key Financial Metrics

| Particulars | Q1 FY27 | Q1 FY26 | YoY (%) | Q4 FY26 | QoQ (%) |

| Sales Volume (MT) | 16,06,209 | 14,27,639 | ▲13% | 18,31,160 | ▼12% |

| Revenue from Operations (₹ lakhs) | 70,607 | 67,066 | ▲5% | 78,696 | ▼10% |

| Other Income (₹ lakhs) | 238 | 419 | ▼43% | 1,119 | ▼79% |

| Total Income (₹ lakhs) | 70,845 | 67,485 | ▲5% | 79,815 | ▼11% |

| Operating expenses (₹ lakhs) | 63,365 | 54,921 | ▲15% | 70,542 | ▼10% |

| Op. EBITDA (₹ lakhs) | 7,242 | 12,145 | ▼40% | 8,154 | ▼11% |

| Op. EBITDA Margin (%) | 10 | 18 | ▼43% | 10 | ▼1% |

| Op. EBITDA per Ton (₹) | 451 | 851 | ▼47% | 445 | ▲1% |

| Finance cost (₹ lakhs) | 5,223 | 4,709 | ▲11% | 5,309 | ▼2% |

| Depreciation (₹ lakhs) | 5,916 | 5,465 | ▲8% | 6,626 | ▼11% |

| (Loss)/profit before tax (₹ lakhs) | (3,659) | 2,390 | - | (2,662) | - |

| Tax expenses (₹ lakhs) | (849) | 1,641 | - | (12,667) | - |

| (Loss)/profit after tax (₹ lakhs) | (2,810) | 749 | - | 10,005 | - |

Per Ton Analysis

| Particulars (in ₹) | Q1 FY27 | Q1 FY26 | YoY (%) | Q4 FY26 | QoQ (%) |

| Net Realization / T | 4,396 | 4,698 | ▼6% | 4,298 | ▲2% |

| Total Expenditure / T | 3,945 | 3,847 | ▲3% | 3,852 | ▲2% |

| Raw Material Consumed | 798 | 793 | ▲1% | 786 | ▲2% |

| Employee Expenses | 225 | 249 | ▼10% | 214 | ▲5% |

| Power & Fuel | 1,484 | 1,450 | ▲2% | 1,422 | ▲4% |

| Freight | 858 | 860 | ▼0% | 848 | ▲1% |

| Other Expenses | 580 | 495 | ▲17% | 583 | ▼1% |

| EBITDA/T | 451 | 851 | ▼47% | 445 | ▲1% |

Operational Highlights

  • Plants operated at around 63% capacity during Q1 FY27
  • Revenue increased by 5% YoY while volume increased by 13% for Q1 FY27
  • EBITDA margin decreased by 800 bps to 10% for Q1 FY27 versus Q1 FY26
  • Loss after tax stood at ₹2,810 lakhs for Q1 FY27 versus profit of ₹749 lakhs during Q1 FY26

Segment-wise Performance

Standalone Performance

| Particulars | Q1 FY27 | Q1 FY26 | YoY (%) | Q4 FY26 | QoQ (%) |

| Sales Volume (MT) | 11,11,842 | 10,09,264 | ▲10% | 13,09,504 | ▼15% |

| Revenue from Operations (₹ lakhs) | 47,181 | 43,575 | ▲8% | 52,991 | ▼11% |

| Op. EBITDA (₹ lakhs) | 3,379 | 6,012 | ▼44% | 2,032 | ▲66% |

| Op. EBITDA Margin (%) | 7 | 14 | ▼48% | 4 | ▲87% |

| Op. EBITDA per Ton (₹) | 304 | 596 | ▼49% | 155 | ▲96% |

Subsidiary Performance (Andhra Cements)

| Particulars | Q1 FY27 | Q1 FY26 | YoY (%) | Q4 FY26 | QoQ (%) |

| Sales Volume (MT) | 2,62,126 | 2,39,952 | ▲9% | 2,45,606 | ▲7% |

| Revenue from Operations (₹ lakhs) | 14,501 | 16,054 | ▼10% | 15,307 | ▼5% |

| Op. EBITDA (₹ lakhs) | 3,489 | 5,469 | ▼36% | 5,239 | ▼33% |

| Op. EBITDA Margin (%) | 24 | 34 | ▼29% | 34 | ▼30% |

| Op. EBITDA per Ton (₹) | 1,331 | 2,279 | ▼42% | 2,133 | ▼38% |

Other Subsidiary Performance

| Particulars | Q1 FY27 | Q1 FY26 | YoY (%) | Q4 FY26 | QoQ (%) |

| Sales Volume (MT) | 2,32,241 | 1,78,424 | ▲30% | 2,76,050 | ▼16% |

| Revenue from Operations (₹ lakhs) | 14,217 | 9,953 | ▲43% | 15,485 | ▼8% |

| Op. EBITDA (₹ lakhs) | 374 | 664 | ▼44% | 883 | ▼58% |

| Op. EBITDA Margin (%) | 3 | 7 | ▼61% | 6 | ▼54% |

| Op. EBITDA per Ton (₹) | 161 | 372 | ▼57% | 320 | ▼50% |

Debt Profile (as of June 30, 2026)

| Particulars (₹ in Lakh) | Jun 30, 2026 | Mar 31, 2026 | YoY (%) |

| Gross Debt | 1,70,360 | 1,67,199 | ▲2% |

| • Long Term | 1,43,381 | 1,37,924 | ▲4% |

| • Working Capital | 26,979 | 29,275 | ▼8% |

| Cash & Bank Balance | 10,473 | 10,745 | ▼3% |

| Net Debt | 1,59,887 | 1,56,454 | ▲2% |

| Long term Debt Equity Ratio (%) | 0.78 | 0.74 | - |

| Net Worth | 1,83,280 | 1,86,092 | ▼2% |

Interest and Principal Repayment Projections

  • Principal Repayment: ₹375 crore in FY27, ₹202 crore in FY29
  • Interest Payment: ₹397 crore in FY27, ₹203 crore in FY29
  • Total SCL Console: ₹1,177 crore in FY27, ₹1,264 crore in FY29

Management Commentary

Jt. Managing Director commented on the performance:

We delivered a healthy volume growth of 13% during the quarter despite temporary disruptions caused by heatwaves and election-related labour shortages in parts of eastern and southern India. Demand across key markets remained resilient, reinforcing confidence in achieving FY27 volume guidance of approximately 7 million MT.

On the pricing front, the quarter started positively, though momentum softened towards the close, resulting in broadly stable to marginally improved realizations on a sequential basis. Operationally, EBITDA per tonne for the quarter stood at approximately ₹451.

As expected, profitability and margins moderated during Q1 due to elevated input costs across energy, fuel and packaging amid the geopolitical tensions in West Asia. While the price increases undertaken during the quarter partially offset the cost inflation, they were not fully sufficient to mitigate the impact.

Looking ahead, we expect input cost pressures to ease as the geopolitical situation normalises. Continued focus on cost optimisation through Waste Heat Recovery Systems (WHRS), a higher share of green energy and plant efficiency initiatives will further strengthen cost structure and support margin expansion over the medium term.

Capex Update

Gudipadu, A.P Plant

  • Successfully commissioned the remaining 1.55 MW Waste Heat Recovery System (WHRS) out of the total installed capacity of 4.35 MW

Jeerabad, M.P Plant

  • Completed the 0.50 MTPA capacity expansion during the quarter
  • Capex amounted to ₹120 crore, funded through debt of ₹74 crore, with the balance financed through internal accruals

Dachepalli, A.P Plant

  • Construction of 6 stage preheater successfully completed and commissioned on October 23, 2025
  • Clinker Capacity increased from 1.85 MnT to 2.31 MnT
  • Cement Capacity from 2.25 MnT to 3.00 MnT (Expects to commission by September 2026)

Capex Budget for FY27

| Particulars | Total Capex | FY25 (Actual) | FY26 (Actual) | FY27 (Budget) | Q1 FY27 (Actual) |

| Dachepalli Expansion | 470 | 75 | 254 | 141 | 54 |

| WHR - Dachepalli | 84 | - | 67 | 17 | 13 |

| Jeerabad Expansion | 120 | - | 87 | 33 | 24 |

| Solar, Jeerabad | 20 | - | - | 20 | - |

| Solar, Mattampally | 20 | - | - | 20 | - |

| Gudipadu Expansion | 45 | - | - | 45 | - |

| Maintenance Capex | - | - | - | 50 | 3 |

| Total Capex | 75 | 408 | 326 | 94 | - |

ESG Performance Q1 FY27

Environmental Performance

  • Specific Electricity Consumption: 72.53 kWh/MT Cement
  • Gross Emission Intensity (Scope-1&2): 644 kg CO2/MT Cementitious
  • Decarbonated Raw Materials: 0.98%
  • Zero waste to Landfill achieved
  • Planted 9,671 saplings in 4.8 hectares of area (1,489 saplings per hectare)
  • Clinker Factor: 71%
  • Specific Thermal Consumption: 723 kCal/kg Clinker
  • TSR: 2.39%
  • Alternative Cementitious Material consumed: 27.7% (4,66,236 MT)
  • Blended Cements: 48.35%
  • Green Power: 21.92%
  • Specific freshwater Consumption (cement process): 36 Liters/t cementitious
  • 8% Zero emission vehicles onsite with total 11 EV Vehicles deployed
  • Gudipadu 4.35 MW WHRS completed and fully commissioned on June 18, 2026

Social Performance

  • CSR Spent: ₹54 Lakhs
  • 48,992+ Lives Impacted
  • Zero fatalities
  • 60 Near miss reporting and 4 Safety (Internal) audits conducted in all sites
  • 10,400 Trainings Hours (3.00 Training Hours per Employee)
  • 68 Meetings and training programs conducted for Masons/Builders
  • 6 Dealer Meets conducted across 5 States (Andhra Pradesh, Telangana, Maharashtra, Odisha, Karnataka)

ESG Targets for FY27

  • Specific Electricity Consumption: 70.64 kWh/MT Cement
  • Gross Emission Intensity: 615 kg CO2/MT Cementitious
  • 5X Water Positive
  • Decarbonated raw materials: 1.11%
  • Clinker Factor: 70.80%
  • Specific Thermal Consumption: 710.68 kCal/kg Clinker
  • Green Power: 24%
  • Enhance TSR to 15% by 8.6% from 2022

SBTi Validated Targets

  • Net-Zero Target: Commit to reach Net-Zero Greenhouse Gas emissions across the value chain by FY2050
  • Near-Term Targets: Reduce gross Scope 1 and 2 GHG emissions per tonne of cementitious product by FY2030 from FY2023 base year
  • Long-Term Targets: Reduce gross Scope 1 and 2 GHG emissions 95.1% per tonne of cementitious product by FY2050 from FY2023 base year along with Scope 3

Other Business Updates

Awards and Recognition

  • Sagar Cements (M) Pvt. Ltd. awarded Certificate of Appreciation by Ministry of Finance, Government of India for timely filing of GST returns and prompt payment of GST during FY 2025-26

Strategic Initiatives

  • Syngas-as-alternate fuel project at Sagar Cements: India's First for accelerating decarbonisation from cotton-crop residue
  • Integrated Biochar and Gasification Units facility established at Mattampally Cement Plant in Telangana
  • Consent to establish obtained for Syngas project
  • First AFR Pre-processing facility at Mattampally with 200-250 TPD daily supply commitment
  • HR Transformation initiative targeting critical HR pillars to drive operational excellence

Plant Capacity Overview

  • Mattampally, Telangana: 3.00 MTPA integrated plant
  • Gudipadu, Andhra Pradesh: 1.25 MTPA integrated plant
  • Bayyavaram, Andhra Pradesh: 1.50 MTPA grinding unit
  • Jeerabad, Madhya Pradesh: 1.50 MTPA integrated plant
  • Jajpur, Orissa: 1.5 MTPA grinding unit
  • Dachepalli, Andhra Pradesh: 2.25 MTPA integrated plant
  • Group captive power generation: ~113.33 MW (including 36% share in green energy plants)