India Cements Ltd.
INDIACEMCommodities filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
13 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 13 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| ANALYST_MEET | 20221114 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230208 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230529 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230811 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231107 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240207 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240524 | 2024-03-31 | yes | |
| TRANSCRIPT | 20250502 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250724 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251027 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260130 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260502 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260723 | 2026-06-30 | yes |
INDIACEM
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 330.10 |
| 52-week range | 330.1 – 478.55 |
| Return 1M | -9.39% |
| Return 3M | -14.0% |
| Return 1Y | -14.59% |
| Return 3Y | 41.8% |
| Return 5Y | 75.03% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 1,019.00 |
| Other income | 3.00 |
| Total income | 1,023.00 |
| Cost of materials consumed | 246.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | -13.00 |
| Employee benefit expense | 48.00 |
| Finance costs | 26.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.75 | 0.00 |
| institutions foreign | 0.03 | -0.00 |
| institutions domestic | 0.13 | -0.00 |
| mutual funds | 0.09 | -0.00 |
| public | 0.25 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| ANALYST_MEET | 2022-09-30 | 1 |
| TRANSCRIPT | 2026-06-30 | 12 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,327.00 | 1,281.00 | 1,486.00 | 1,437.00 | 1,264.00 | 1,144.00 | 1,267.00 | 1,027.00 | 1,032.00 | 941.00 | 1,197.00 | 1,025.00 | 1,117.00 | 1,114.00 | 1,229.00 | 1,019.00 |
| Other income | 11.00 | 11.00 | 8.00 | 7.00 | 8.00 | 29.00 | 20.00 | 16.00 | 159.00 | 46.00 | 26.00 | 9.00 | 29.00 | 24.00 | 26.00 | 3.00 |
| Total income | 1,338.00 | 1,292.00 | 1,494.00 | 1,444.00 | 1,272.00 | 1,174.00 | 1,287.00 | 1,042.00 | 1,191.00 | 987.00 | 1,224.00 | 1,034.00 | 1,146.00 | 1,138.00 | 1,254.00 | 1,023.00 |
| Cost of materials consumed | 238.00 | 279.00 | 287.00 | 273.00 | 243.00 | 207.00 | 251.00 | 201.00 | 214.00 | 201.00 | 252.00 | 219.00 | 214.00 | 248.00 | 323.00 | 246.00 |
| Purchases of stock-in-trade | 52.00 | 29.00 | 2.00 | 23.00 | 17.00 | 32.00 | 0.00 | 31.00 | 1.00 | 18.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | -2.00 | -55.00 | 30.00 | 28.00 | -1.00 | 15.00 | -0.00 | 4.00 | 29.00 | 17.00 | -26.00 | -61.00 | 44.00 | -7.00 | 15.00 | -13.00 |
| Employee benefit expense | 91.00 | 98.00 | 83.00 | 94.00 | 100.00 | 88.00 | 100.00 | 107.00 | 96.00 | 88.00 | 90.00 | 62.00 | 58.00 | 60.00 | 63.00 | 48.00 |
| Finance costs | 70.00 | 62.00 | 50.00 | 58.00 | 60.00 | 60.00 | 65.00 | 82.00 | 73.00 | 73.00 | 38.00 | 27.00 | 25.00 | 24.00 | 23.00 | 26.00 |
| Depreciation and amortisation | 55.00 | 55.00 | 55.00 | 54.00 | 55.00 | 58.00 | 58.00 | 56.00 | 55.00 | 55.00 | 75.00 | 74.00 | 74.00 | 75.00 | 76.00 | 72.00 |
| Other expenses | 1,025.00 | 989.00 | 1,131.00 | 1,011.00 | 901.00 | 755.00 | 878.00 | 709.00 | 854.00 | 807.00 | 884.00 | 721.00 | 720.00 | 734.00 | 675.00 | 582.00 |
| Total expenses | 1,528.00 | 1,458.00 | 1,638.00 | 1,541.00 | 1,375.00 | 1,214.00 | 1,352.00 | 1,190.00 | 1,323.00 | 1,260.00 | 1,313.00 | 1,042.00 | 1,136.00 | 1,134.00 | 1,175.00 | 962.00 |
| Profit before exceptional items and tax | -190.00 | -165.00 | -144.00 | -97.00 | -103.00 | -40.00 | -65.00 | -148.00 | -132.00 | -272.00 | -90.00 | -8.00 | 10.00 | 4.00 | 80.00 | 61.00 |
| Exceptional items | 0.00 | 300.00 | -114.00 | 0.00 | 0.00 | 26.00 | 16.00 | 241.00 | -223.00 | 366.00 | 90.00 | -124.00 | -6.00 | -8.00 | -11.00 | -25.00 |
| Profit before tax | -190.00 | 135.00 | -258.00 | -97.00 | -103.00 | -14.00 | -49.00 | 93.00 | -355.00 | 94.00 | 1.00 | -132.00 | 4.00 | -5.00 | 69.00 | 36.00 |
| Current tax | 0.00 | 0.00 | 11.00 | 0.00 | 0.00 | 0.00 | 6.00 | 1.00 | 18.00 | 48.00 | 1.00 | 2.00 | 0.00 | 0.00 | -2.00 | 0.00 |
| Deferred tax | -69.00 | 23.00 | -26.00 | -24.00 | -17.00 | -8.00 | -5.00 | 21.00 | -34.00 | -88.00 | -25.00 | -2.00 | -4.00 | -2.00 | 11.00 | 9.00 |
| Tax expense | -69.00 | 23.00 | -14.00 | -24.00 | -17.00 | -8.00 | 1.00 | 21.00 | -16.00 | -39.00 | -24.00 | -1.00 | -4.00 | -2.00 | 9.00 | 9.00 |
| Profit for the period | -113.00 | 133.00 | -227.00 | -87.00 | -80.00 | 1.00 | -61.00 | 58.00 | -339.00 | 122.00 | 15.00 | -133.00 | 9.00 | -3.00 | 60.00 | 27.00 |
| Profit attributable to owners | — | — | — | — | 0.00 | — | — | — | — | 0.00 | — | — | 0.00 | — | — | — |
| Profit attributable to non-controlling interests | — | — | — | — | 0.00 | — | — | — | — | 0.00 | — | — | 0.00 | — | — | — |
| Other comprehensive income | 1.00 | -2.00 | -2.00 | -1.00 | 1.00 | -1.00 | 2.00 | -1.00 | -19.00 | 4,911.00 | 1.00 | 2.00 | 1.00 | -7.00 | 1.00 | 1.00 |
| Total comprehensive income | -112.00 | 131.00 | -229.00 | -89.00 | -79.00 | -0.00 | -59.00 | 58.00 | -358.00 | 5,033.00 | 16.00 | -131.00 | 9.00 | -10.00 | 61.00 | 28.00 |
| Earnings per share, basic | -3.62 | 4.24 | -7.40 | -2.86 | -2.56 | 0.00 | -1.91 | 1.87 | -11.55 | 162.41 | 0.51 | -4.21 | 0.28 | -0.09 | 1.92 | 0.87 |
| Earnings per share, diluted | -3.62 | 4.24 | -7.40 | -2.86 | -2.56 | 0.00 | -1.91 | 1.87 | -11.55 | 162.41 | 0.51 | -4.21 | 0.28 | -0.09 | 1.92 | 0.87 |
Annual results, as filed
| Line | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Revenue from operations | 5,186.00 | 4,511.00 | 4,858.00 | 5,608.00 | 5,112.00 | 4,149.00 | 4,485.00 |
| Other income | 42.00 | 40.00 | 24.00 | 40.00 | 65.00 | 209.00 | 88.00 |
| Total income | 5,228.00 | 4,551.00 | 4,883.00 | 5,648.00 | 5,177.00 | 4,357.00 | 4,572.00 |
| Cost of materials consumed | 981.00 | 732.00 | 828.00 | 1,055.00 | 974.00 | 832.00 | 1,004.00 |
| Purchases of stock-in-trade | 29.00 | 0.00 | 38.00 | 105.00 | 72.00 | 50.00 | 0.00 |
| Changes in inventories | -25.00 | 77.00 | -28.00 | -50.00 | 42.00 | 24.00 | -9.00 |
| Employee benefit expense | 359.00 | 338.00 | 340.00 | 365.00 | 382.00 | 377.00 | 243.00 |
| Finance costs | 343.00 | 271.00 | 198.00 | 242.00 | 244.00 | 266.00 | 99.00 |
| Depreciation and amortisation | 256.00 | 247.00 | 226.00 | 219.00 | 226.00 | 239.00 | 299.00 |
| Other expenses | 3,247.00 | 2,576.00 | 3,197.00 | 4,276.00 | 3,544.00 | 3,247.00 | 2,850.00 |
| Total expenses | 5,191.00 | 4,240.00 | 4,797.00 | 6,212.00 | 5,482.00 | 5,036.00 | 4,487.00 |
| Profit before exceptional items and tax | 37.00 | 311.00 | 85.00 | -564.00 | -305.00 | -679.00 | 86.00 |
| Exceptional items | -14.00 | 0.00 | 0.00 | 186.00 | 42.00 | 508.00 | -149.00 |
| Profit before tax | 24.00 | 311.00 | 85.00 | -378.00 | -263.00 | -171.00 | -63.00 |
| Current tax | 10.00 | 55.00 | 45.00 | 11.00 | 6.00 | 68.00 | 0.00 |
| Deferred tax | -40.00 | 48.00 | -26.00 | -219.00 | -54.00 | -127.00 | 2.00 |
| Tax expense | -30.00 | 102.00 | 19.00 | -208.00 | -48.00 | -58.00 | 2.00 |
| Profit for the period | 50.00 | 207.00 | 78.00 | -127.00 | -227.00 | -144.00 | -67.00 |
| Profit attributable to owners | 0.00 | — | — | — | — | — | — |
| Profit attributable to non-controlling interests | 0.00 | — | — | — | — | — | — |
| Other comprehensive income | 234.00 | 10.00 | 198.00 | 2.00 | 0.00 | 4,892.00 | -3.00 |
| Total comprehensive income | 284.00 | 217.00 | 277.00 | -125.00 | -227.00 | 4,749.00 | -70.00 |
| Earnings per share, basic | 9.18 | 7.01 | 8.92 | -4.04 | -7.32 | 153.23 | -2.17 |
| Earnings per share, diluted | 9.18 | 7.01 | 8.92 | -4.04 | -7.32 | 153.23 | -2.17 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 12,105.00 | 11,467.00 | 11,238.00 | 10,701.00 | 9,679.00 | 13,830.00 | 13,663.00 | 13,403.00 |
| Non-current assets | 9,485.00 | 8,040.00 | 7,952.00 | 7,914.00 | 7,274.00 | 12,120.00 | 11,845.00 | 11,819.00 |
| Current assets | 2,620.00 | 3,360.00 | 3,219.00 | 2,740.00 | 2,198.00 | 1,592.00 | 1,673.00 | 1,457.00 |
| Property, plant and equipment | 6,890.00 | 6,672.00 | 6,591.00 | 6,746.00 | 6,381.00 | 11,572.00 | 11,290.00 | 11,179.00 |
| Capital work-in-progress | 320.00 | 313.00 | 371.00 | 190.00 | 178.00 | 177.00 | 214.00 | 344.00 |
| Goodwill | 232.00 | 69.00 | 69.00 | 69.00 | 63.00 | 44.00 | 0.00 | 0.00 |
| Other intangible assets | 52.00 | 62.00 | 56.00 | 58.00 | 53.00 | 22.00 | 13.00 | 9.00 |
| Inventories | 738.00 | 785.00 | 715.00 | 631.00 | 492.00 | 556.00 | 623.00 | 734.00 |
| Trade receivables | 995.00 | 825.00 | 852.00 | 699.00 | 695.00 | 659.00 | 462.00 | 248.00 |
| Cash and cash equivalents | 64.00 | 65.00 | 72.00 | 84.00 | 74.00 | 103.00 | 39.00 | 14.00 |
| Total equity and liabilities | 12,105.00 | 11,467.00 | 11,238.00 | 10,701.00 | 9,679.00 | 13,830.00 | 13,663.00 | 13,403.00 |
| Equity | 6,001.00 | 5,827.00 | 5,658.00 | 5,599.00 | 5,299.00 | 10,196.00 | 10,073.00 | 10,124.00 |
| Equity share capital | 310.00 | 310.00 | 310.00 | 310.00 | 310.00 | 310.00 | 310.00 | 310.00 |
| Other equity | 5,610.00 | 5,466.00 | 5,324.00 | 5,265.00 | 4,953.00 | 9,884.00 | 9,763.00 | 9,814.00 |
| Total liabilities | 6,104.00 | 5,640.00 | 5,580.00 | 5,101.00 | 4,380.00 | 3,634.00 | 3,590.00 | 3,279.00 |
| Non-current liabilities | 3,112.00 | 2,814.00 | 2,586.00 | 2,305.00 | 2,076.00 | 2,384.00 | 1,851.00 | 1,703.00 |
| Current liabilities | 2,993.00 | 2,827.00 | 2,993.00 | 2,797.00 | 2,304.00 | 1,250.00 | 1,739.00 | 1,576.00 |
| Borrowings, non-current | 2,027.00 | 1,801.00 | 1,620.00 | 1,420.00 | 1,222.00 | 1,071.00 | 978.00 | 976.00 |
| Borrowings, current | 941.00 | 1,138.00 | 1,205.00 | 1,198.00 | 916.00 | 95.00 | 357.00 | 329.00 |
| Trade payables | 1,451.00 | 1,332.00 | 1,384.00 | 1,245.00 | 1,013.00 | 982.00 | 952.00 | 866.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 264.00 | -19.00 | 110.00 | 344.00 | -279.00 | -256.00 | -195.00 | -27.00 |
| Net cash from investing activities | -26.00 | 435.00 | 121.00 | 248.00 | 903.00 | 2,015.00 | 7.00 | -103.00 |
| Net cash from financing activities | -220.00 | -397.00 | -225.00 | -572.00 | -635.00 | -1,738.00 | 123.00 | 40.00 |
| Purchase of property, plant and equipment | 132.00 | 58.00 | 1.00 | 127.00 | 23.00 | 62.00 | 57.00 | 223.00 |
| Net increase in cash | 18.00 | 19.00 | 7.00 | 19.00 | -10.00 | 20.00 | -64.00 | -89.00 |
| con:CFO.BEFORE_TAX | 266.00 | -12.00 | 120.00 | 363.00 | -275.00 | -120.00 | -192.00 | -19.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 2.00 | 8.00 | 9.00 | 19.00 | 5.00 | 105.00 | 2.00 | 8.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -30.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 11.00 | 219.00 | 3.00 | 38.00 | 269.00 | 350.00 | 0.00 | 135.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 300.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 28.42 | 28.42 | 28.42 | 28.42 | 28.42 | 28.42 | 28.42 | 55.49 | 81.49 | 81.49 | 0.76 | 0.75 | 0.75 | 0.75 |
| Domestic institutions | 9.39 | 9.43 | 10.04 | 8.94 | 8.47 | 5.85 | 6.05 | 6.68 | 3.69 | 5.77 | 0.12 | 0.13 | 0.13 | 0.13 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 2.75 | 0.09 | 0.10 | 0.10 | 0.09 |
| Insurance companies | 4.42 | 4.28 | 3.80 | 3.80 | 3.80 | 3.80 | 3.77 | 2.91 | 2.76 | 2.75 | 0.03 | 0.03 | 0.03 | 0.03 |
| Foreign institutions | 13.15 | 13.64 | 13.42 | 13.58 | 13.27 | 17.63 | 16.17 | 14.50 | 4.94 | 2.97 | 0.03 | 0.03 | 0.03 | 0.03 |
| Public | 71.58 | 71.58 | 71.58 | 71.58 | 71.58 | 71.58 | 71.58 | 44.51 | 18.51 | 18.51 | 0.24 | 0.25 | 0.25 | 0.25 |
| Non-institutional | 49.05 | 48.51 | 48.12 | 49.05 | 49.84 | 48.10 | 49.36 | 23.33 | 9.87 | 9.78 | 0.09 | 0.09 | 0.09 | 0.09 |
| Shares outstanding | 309887838 | 309887838 | 309887838 | 309887838 | 309887838 | 309887838 | 309887838 | 309887838 | 309888218 | 309888218 | 309888218 | 309888218 | 309888218 | 309888218 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Sri Saradha Logistics Pvt. Ltd | Other Related Party | Advance, Any other transaction, Interest received, P | 3,113,069,000.00 | 5 |
| ICL Financial Services Limited (ICLFSL) | SUBSIDIARY | Advance, Any other transaction | 853,182,000.00 | 2 |
| ICL Securities Limited (ICLSL) | SUBSIDIARY | Advance, Any other transaction | 818,202,000.00 | 2 |
| Chennai Super Kings Cricket Limited | Entity with Common Promoters | Any other transaction, Inter-corporate deposit, Inte | 289,440,000.00 | 3 |
| Coromandel Electric Company Limited | SUBSIDIARY | Purchase of goods or services, Sale of goods or serv | 183,255,000.00 | 3 |
| Coromandel Sugars Limited | ASSOCIATE | Any other transaction, Interest received, Loan, Purc | 93,720,000.00 | 8 |
| Krishna Mines | Transaction in which Director is i | Purchase of goods or services | 78,643,000.00 | 1 |
| India Cements Infrastructures Limited | SUBSIDIARY | Advance, Any other transaction | 64,180,000.00 | 2 |
| India Cements Gratuity Fund | Post Employment Benefit Plan | Any other transaction | 38,452,000.00 | 1 |
| Mr.N.Srinivasan | Vice Chairman & Managing Direc | Remuneration | 16,651,000.00 | 1 |
| ICL International Limited | SUBSIDIARY | Purchase of goods or services | 7,093,000.00 | 1 |
| Mrs.Rupa Gurunath | Whole Time Director | Remuneration | 6,705,000.00 | 1 |
| India Cements Capital Limited | ASSOCIATE* | Any other transaction, Interest received, Loan, Purc | 5,583,000.00 | 4 |
| Coromandel Travels Limited | SUBSIDIARY | Advance, Any other transaction | 4,662,000.00 | 2 |
| The India Cements Employees Provident Fund, Chilamkur | Post Employment Benefit Plan | Any other transaction | 1,603,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-07-23 | Q1FY27 | Read the call | |
| 2026-05-02 | Q4FY26 | Read the call | |
| 2026-01-30 | Q3FY26 | Read the call | |
| 2025-10-27 | Q2FY26 | Read the call | |
| 2025-07-24 | Q1FY26 | Read the call | |
| 2025-05-02 | Q4FY25 | Read the call | |
| 2024-05-24 | Q4FY24 | Rajesh Kumar Ravi:, Shouvik Chakraborty:, Which plant? | Read the call |
| 2024-02-07 | Q3FY24 | At least., Rajesh Kumar Ravi:, Thank you very much. | Read the call |
| 2023-11-07 | Q2FY24 | Amit Murarka:, DIRECTOR, INDIA CEMENTS LIMITED, Prateek Kumar: | Read the call |
| 2023-08-11 | Q1FY24 | Amit Murarka: | Read the call |
| 2023-05-29 | Q4FY23 | Navin Sahadeo:, This is production 97.3? | Read the call |
| 2023-02-08 | Q3FY23 | 55-45, trade is 55%., Rajesh Ravi: | Read the call |
| 2022-11-14 | Q2FY23 | Amit Murarka:, PRIVATE LIMITED, ahead., quarter on that number? | Read the call |
What they said about it, quarter by quarter
| Topic | Q2FY26 | Q3FY23 | Q3FY24 | Q3FY26 | Q4FY23 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | First, congratulations on such low capex per ton on the next leg of expansion. | — | — | Further, as I called out, the capex program has begun for efficiency improvement. | My second question was about the CAPEX that we can expect at the company level for 24 and 25 in light of the initiatives like changing of some critica… | Sir, could you please spell out this 500 crore improvement CAPEX that you are doing? | And for FY '27, what would be the capex number, sir? | Just to be clear on this, is it fair to say that given balance sheet strength and you funding your capex through internal accruals, we may see payout … |
| Capital allocation | There will be possibilities of greenfield clinker-based units also since we continuously keep acquiring mining rights, and land acquisition is an ongo… | — | Sir, what was the proceeds from the ship sale you have given the profit number and what is the investment made for the new acquisition? | — | — | — | One on capital allocation and the other one on the acquisition. | Mr. Daga, just a follow-up question on the dividend. |
| Costs | And also, while we spelled out the other expenses, reasons for the other expenses jump, even raw material has moved up, is there some one-off even in … | — | — | And sir, on the cost saving front, UltraTech has given a target of INR300 to INR350 per ton over the next couple of years. | — | — | — | Selling prices have also been increased to cushion the impact of rising input costs. |
| Debt and cash | — | — | India Cements Limited February 01, 2024 One of the reasons that this see the price and NPR this quarter was sufficient for us, but our volume was low … | — | Just one last question from me what is the current net debt both at the standalone and the consol level as at the end of FY23? | You know, net debt has come off considerably if I look at the past few years. | Difficult to break up, a lot of efficiency improvement, which is being driven by working capital, improving the working capital cycle, which means cos… | And as the operating cash flows grow because of our existing size, existing capacities, delivering more and more. |
| Demand | Pricing, I will repeat again, it's always been demand. | My first question is, can you throw some light on the demand and pricing environments in South like over past 3 to 6 months. | Just one question I had was about the demand from the state of Telangana. | The reason I talked about all the demand footprint and demand new initiatives, I think cement will easily get absorbed. | — | My first question is on regional demand. | Given demand hasn't moved much, but pricing is one way up. | And obviously, the UAE operations benefit from the construction demand wherever it is required? |
| Guidance | And do you think the earlier guidance of 6% to 7% industry growth for the full year is achievable? | — | So, this quarter we expect good working capital, and this is a busy quarter. | But sir, I don't see the capacity addition plant-by- plant guidance for Q4 and for the next 2 years. | — | — | Prateek, we expect to grow double digit this year on a higher base. | Sir, my second question is just on India Cements, given some of the EBITDA of India Cements is getting booked in UltraTech standalone, your INR1,000 p… |
| Margin | The EBITDA per ton that you've given is at INR755, and I understand the first quarter was about INR1,000. | And can you share the EBITDA for three segments? | Would you please share the shipping, windmill and RMC revenue and EBITDA? | I don't think anyone expected both volume and the margin beat actually, which is quite heartening to see. | Those other revenues and EBITDA if you can share from the other business segment? | Sir, could you share the rupees per kilo cal costing in Q4 and the housekeeping numbers for revenue and EBITDA for shipping, wind and concrete? | Second, from here onwards, where this quarter, their operating EBITDA or total EBITDA was INR40 a ton, improvement in volumes, which is capacity utili… | So Kesoram, if I look at January, March quarter, it was already operating at INR1,000-plus EBITDA per ton. |
| People | You shared in the presentation that last couple of years, the peak utilization has been approaching 90%. | — | — | So, we have to have all the players playing the match in a positive manner - prices, efficiency improvement and capacity utilization. | Sir, you mentioned that Southern utilization is at clinker utilization is very close to full and the overall cement capacity is 180 million tons, just… | — | If you look at the calculation on renewable energy, it is on the basis of capacity utilization. | One thing is that before the war broke out, they were operating at 100% capacity utilization. |
| Pricing | Now keeping that in mind and the cost-saving initiatives across the industry, how do you see the UltraTech Cement Limited October 18, 2025 pricing env… | So, the pricing has failed to improve in the region even in the month of January and it probably has declined. | — | Just on pricing, wanted to get a sense from you, like there is a lot of industry capacity addition that is going to come through this year. | I had two questions one is that our volumes for this year as you said are more like 9.7 million in the year which is still look at from a year perspec… | So, can you just share some color on the pricing scenario from the exit of March, maybe how much the prices have changed in your operating regions? | Lastly, on prices, can you just throw some light on the current pricing versus average last quarter pricing? | We have taken price increases for cement in the month of April. |
| Revenue growth | You have reported like like-for-like growth of 7% for the overall consol operations. | — | — | — | — | — | Atul, on FY '25 industry growth of 4% and our growth, is it possible to share some region-wise color, I mean, in terms of volume growth? | I think the number of plants, revenue growth, revenue growth is more than volume growth. |