EL7.AI
StocksMedium•22 October 2026•
3 min read

India Cements operating profit rises 77.8% to 144 crore rupees in September quarter

Key Facts

1Consolidated operating profit rose 77.8% to 144 crore rupees from 81.1 crore a year earlier.
2Consolidated net profit reached 38.8 crore rupees, compared with 8.8 crore in the corresponding period.
3Sales volumes rose 16.2% to 2.83 million tonnes from 2.44 million tonnes a year earlier.
4The operating profit margin fell to 12.6% from 15.3% in the previous quarter.
5The expansion plan aims to raise production capacity from 14.5 million tonnes to 17.6 million tonnes by the end of fiscal 2028.

India Cements' consolidated earnings before interest, taxes, depreciation and amortisation rose 77.8% year on year in the quarter ended September 2026, according to NDTV Profit. Operating profit on this measure reached 144 crore rupees, compared with 81.1 crore in the quarter ended September 2025. Consolidated net profit climbed to 38.8 crore rupees from 8.8 crore in the corresponding period last year. Profit growth outpaced quarterly revenue growth, which rose 2.2% to 1,142 crore rupees. The results coincided with the continuation of the company's investment programme following its move into the UltraTech group and an increase in sales volumes from a year earlier.

Quarterly sales volumes rose 16.2% to 2.83 million tonnes from 2.44 million tonnes a year earlier, according to CNBC TV via TradingView. Volume growth thus exceeded the annual increase in revenue during the September quarter. On a quarterly basis, the earnings before interest, taxes, depreciation and amortisation margin fell to 12.6% from 15.3% in the quarter ended June 2026. Power and fuel expenses rose to 448.01 crore rupees from 367 crore in the quarter ended September 2025, according to the same source. The quarter thus combined sales expansion and improved profit from a year earlier with a lower operating margin than in the previous quarter and a year-on-year increase in energy costs.

The results come as India Cements is integrated into UltraTech, after becoming its subsidiary effective 24 December 2024, according to an official UltraTech exchange filing. The integration covers the brand under which India Cements manufactures and sells its products, as well as the allocation of some costs within the group. UltraTech said on its April earnings call that "India Cements manufactures and sells under the UltraTech brand, but does not bear any direct marketing and distribution costs." The parent company bears these costs at the consolidated level, it explained on the call. India Cements' improvement programme had recorded commitments of 601 crore rupees against actual expenditure of 144 crore, according to UltraTech's January 2026 earnings call.

On energy use, the share of renewable sources actually used rose to 24.7% in the second quarter of fiscal 2027, according to Investing.com. The share stood at 7.1% in the corresponding period of fiscal 2026. Planned energy infrastructure includes 24 megawatts of waste heat recovery capacity, according to CNBC TV. The plan also includes 263 megawatts of renewable energy capacity. These capacities form part of the announced investment programme, while the actual usage share reflects the change already achieved in the energy mix during the quarter.

The company approved investments of 2,000 crore rupees, with investment commitments reaching about 1,728 crore through September 2026, according to CNBC TV. Alongside the capital expenditure programme, net debt rose to 1,591 crore rupees at the end of September, according to Investing.com. That compares with net debt of 1,271 crore rupees at the end of March 2026. On production, the expansion plan aims to increase capacity from a base of 14.5 million tonnes to 17.6 million tonnes. The target capacity is scheduled to be reached by the end of fiscal 2028, according to details of the plan reported by CNBC TV.