Financial Performance Overview

Quarter Ended September 2026 (Q2 FY2027) vs. September 2025 (Q2 FY2026):

  • Sales Volume: Increased by 72.3% Year-over-Year (YoY) to 5.10 lacs tons from 2.96 lacs tons.
  • Revenue from Operations: Increased by 73.1% YoY to ₹27,931 lacs from ₹16,135 lacs.
  • EBITDA: Turned negative at ₹(130) lacs, a significant decline from a positive ₹2,048 lacs in the prior year quarter.
  • EBITDA per Ton: Turned negative at ₹(26) per ton from a positive ₹692 per ton.
  • Profit Before Tax (PBT): Reported a loss of ₹2,206 lacs compared to a profit of ₹1,365 lacs.
  • Profit After Tax (PAT): Reported a net loss of ₹1,627 lacs compared to a net profit of ₹1,023 lacs.

Six Months Ended September 2026 (H1 FY2027) vs. September 2025 (H1 FY2026):

  • Sales Volume: Increased by 70.4% to 11.16 lacs tons from 6.55 lacs tons.
  • Revenue from Operations: Increased by 72.6% to ₹61,658 lacs from ₹35,729 lacs.
  • EBITDA: Declined by 36.5% to ₹2,898 lacs from ₹4,567 lacs.
  • EBITDA per Ton: Declined by 62.7% to ₹260 per ton from ₹697 per ton.
  • Profit Before Tax (PBT): Reported a loss of ₹1,291 lacs compared to a profit of ₹3,217 lacs.
  • Profit After Tax (PAT): Reported a net loss of ₹945 lacs compared to a net profit of ₹2,402 lacs.

Operational and Strategic Highlights

Brand Usage Agreement (BDA):

Under the Brand Usage, Supply and Distributorship Agreement (BDA) with Hi-Bond Cement (India) Private Limited, the company sold 212,549 Metric Tons (MT) of cement during the quarter and 461,892 MT during the six months ended 30 September 2026. This cement was manufactured at the Hi-Bond plant. There were no corresponding sales under this agreement in the comparable periods of the previous year.

Performance Drivers and Challenges:

Geopolitical uncertainty disrupted global supply chains during the quarter, leading to increased input and logistics costs. The specific cost pressures mentioned are for fuel, packaging, and freight.

The company completed its annual shutdown during the quarter and the six-month period ended 30 September 2026. Following this maintenance, the plant is stated to be prepared to meet higher market demand.

The company continues its strategic initiatives to expand the use of renewable energy and its blended cement portfolio. The stated objectives of these initiatives are to enhance profitability and reduce the company's carbon footprint.

Management Commentary and Outlook

Management expressed confidence in the company's long-term growth prospects. This confidence is based on:

  • Strong operational capabilities
  • Effective supply chain management
  • An expanding distribution network
  • Disciplined capital allocation

Management believes that these strengths, together with continued market expansion, position the company to create sustainable value over the long term.