Slides
Page 1
Stock code: BSE: 530005| NSE: INDIACEM| Reuters: ICMN.NS| Bloomberg: ICEM:IN Results Q2 FY26 The India Cements Limited
Page 2
01 Company Overview 02 Business Update 03 Financial Performance
Page 3
Chilamkur Cement Works, Andhra Pradesh Company Overview
Page 4
Plant Locations S No Plants State IU/GU Sep 2025 FY 27 Mar 2027 1 Sankari Tamil Nadu IU 0.86 0.86 2 Sankarnagar Tamil Nadu IU 2.05 2.05 3 Dalavoi Tamil Nadu IU 1.85 0.40 2.25 4 Chennai Tamil Nadu GU 1.10 1.80 2.90 5 Vishnupuram Telangana IU 2.50 2.50 6 Malkapur Telangana IU 2.40 2.40 7 Chilamkur Andhra Pradesh IU 1.46 1.46 8 Yerraguntla Andhra Pradesh IU 0.73 0.73 9 Banswara Rajasthan IU 1.80 0.60 2.40 Total 14.75 2.80 17.55 Integrated Unit Grinding Unit IU: Integrated Unit GU: Grinding Unit 4 Cement Capacity in Mtpa Debottlenecking
Page 5
Shareholding Pattern Key Foreign Portfolio Investors (FPI) Funds* Holding (%) The Vanguard Group 0.79 Abu Dhabi Investment Authority 0.65 DFA Investment Dimensions Group Inc. 0.48 Ishares 0.32 State Street Global Advisors 0.16 Others 0.71 Total FPI holding 3.11 Key Domestic Mutual Funds, Insurance and Institutional Investors Funds* Holding (%) Kotak Mutual Fund 3.85 SBI Mutual Fund 2.36 Baroda BNP Paribas 1.34 Franklin India Small Cap Fund 0.67 Others 0.57 Total Domestic Mutual Funds and Institutions 8.79 Body Corporate, Insurance Companies & Others 4.18 Total 12.97 *Multiple schemes 76 3 13 8 As on 30th Sep, 2025 Promoter Group Foreign Portfolio Investors (FPI) Mutual Fund (MF), Institutions, Insurance and Bodies Corporate Other Public Holding GDRs 5
Page 6
Board of Directors K. C. Jhanwar Non-Executive Director ◼ Chartered Accountant with over 40 years experience of which 39 years is with the Aditya Birla Group ◼ Operations and General Management across the Cement and Chemicals Business of the Aditya Birla Group, including greenfield and brownfield expansions. Vivek Agarwal Non-Executive Director ◼ A BE (Hons.) in Mechanical and an MBA from FMS, Delhi. He has done his AMP from Wharton ◼ He has an overall experience of over 37 years and with the Group for 28 years. ◼ A veteran with the Cement Business of the Group, he has played a key role in the Post-Merger Integrations and Brand Transitions of acquired units. E.R. Raj Narayanan Non-Executive Director ◼ A Chemical Engineer, with about four decades of experience in sectors like cement, specialty chemicals, fertilizers, industrial products and industrial gases ◼ During his other stints with the Aditya Birla Group, he held positions as CEO of insulators & fertilizers and Senior President of Overseas chemical businesses. Ashok Ramachandran Non-Executive Director ◼ Mr. Ashok Ramchandran has over 35 years of rich and varied experience in HR, spanning multiple sectors in companies such as Asian Paints, GE Capital, Tata AIG Insurance and Vodafone India, before joining the Aditya Birla Group, 9 years ago. Y . Viswanatha Gowd Nominee Director of Life Insurance Corporation of India ◼ Mr Gowd has over 30 years of rich Management experience with his expertise in marketing, finance and pension schemes management. ◼ EX-MD & CEO of LIC Housing Finance and he also served on the board of LIC Mutual Fund AMC. 6
Page 7
Board of Directors Alka Bharucha Independent Director ◼ Masters in Law from the University of Bombay and University of London and Solicitor High Court Mumbai and Supreme Court of England and Wales. ◼ Core areas of expertise are mergers and acquisitions, joint ventures, private equity, banking and finance. Vikas Balia Independent Director ◼ A Senior Advocate and a rank holding Chartered Accountant, with a Master’s degree in Mercantile Laws as well as a doctoral research (Ph. D) on Securitization Laws. ◼ Expertise in conducting due diligences, and providing advisory services, demonstrating a well-rounded approach to legal practice that integrates strategic and practical insights. Sukanya Kripalu Independent Director ◼ A graduate in Mathematics from St. Xavier's College and a postgraduate from the Indian Institute of Management, Calcutta. Marketing Consultant and an Independent Director across several Boards ◼ Her experience includes working with leading corporates like Nestle India Limited, Cadbury India Limited and Kellogg's India V Manickam Independent Director ◼ He has over four decades of experience of which 3 decades of service in Life Insurance Corporation of India (LIC) in various capacities, the last being Executive Director (Investment Monitoring and Accounting) and retired as Managing Director and CEO of LIC Pension Fund K. Skandan Independent Director ◼ Bachelor’s Degree in Public Administration and History. Master’s Degree in Political Science, Development Studies, Rural Development Planning and Bachelor of Laws ◼ He is an I.A.S., (Retired) and has served in Central and State Governments at senior levels and involved in the promotion of Industrial Development 7
Page 8
Q2 Highlights Achieved Domestic sales volume of 2.44 MnT; growth of 11.9% qoq. Net Cement Realizations marginally down by 0.6% qoq. Operating EBIDTA/Mt of ₹ 386, compared to ₹ 400/Mt in Q1 FY26. Average Capacity Utilization at 65% for the quarter. PAT before exceptions at ₹ 15 Crores for the quarter. Breakeven post acquisition. 8
Page 9
Sankar Nagar Cement Works, Tamil Nadu Business Update
Page 10
Sales Performance Overview : Q2 FY26 10 68.0% 32.0% Trade % Non Trade % 79.2% 20.8% Bag Sales % Bulk Sales % 70.0% 30.0% Direct Sales Depot Sales
Page 11
Conversion of 4/5 stage preheaters to 6 stage preheaters; cooler upgradation; process optimization (to reduce heat consumption). 21.8 MW of WHRS (to reduce cost of power and increase green power). Multiple productivity, energy efficiency related capex for reducing power consumption. Reliability improvement through digitisation. Implementation of safety standards, safety practices. Capex plan of ₹ 2,000 Crores over next 2 years : Investing for Growth and Efficiencies Key initiatives planned 11
Page 12
ESG at The India Cements 3% 3% 10% 19% FY 25 FY 26 FY27 FY 28 2% 6% 27% 61% FY 25 FY 26 FY 27 FY 28 9MW Plan to scale up Green Power (RE+WHRS) from 5% to 80% by FY28 Waste Heat Recovery System Renewable Power 12 9MW 30MW 30MW 20MW 35MW 212MW 212MW
Page 13
Ongoing CSR initiatives Reached over 2400 students through multiple education initiatives Chennai Cement Works Dalavoi Cement Works Chilamkur Cement Works Sankari Cement Works Agricultural support to nearby villages, promoting rural livelihood Encouraged and facilitated sustainable farming in nearby villages Organized and served meals to over 300 beneficiaries in nearby villages 13
Page 14
Awards Dalavoi cement works awarded first prize in the Overall ‘A’ Category Conventional Mines at Tamil Nadu Mines Safety Association 64th Mines Safety Week Celebration Second Prize in Overall Large Mechanized Mines category at 30th MEMC 2024-25 for Malkapur Sangam Kalan Limestone Mines. Sankari Cement Works wins Silver Award in 17th Edition CII SR EHS Excellence Awards 14
Page 15
Sankari Cement Works, Tamil Nadu Financial Performance
Page 16
Realisation and Logistics Cost (Grey Cement) Logistics cost (₹/Mt) 1,060 916 813 Q2FY25 Q1FY26 Q2FY26 4,227 4,689 4,563 Q2FY25 Q1FY26 Q2FY26 Domestic Grey Cement Realisation (₹/Mt) Realisation = Selling Price less GST and Discounts 3% decline QoQ and 8% increase YoY 11% decline QoQ and 24% decline YoY 16
Page 17
Key Cost Indicators (Grey Cement): Q2 FY26 11% decline QoQ and 23% decline YoY Logistics 813 9% decline QoQ and 3% increase YoY Raw Materials 893 20% 22%% of total costs ₹ / Mt 17 7% decline QoQ and 19% decline YoY Fuel 948 23% 13% decline QoQ and 11% decline YoY Power 581 14%
Page 18
Key Cost Indicators Trend (Grey Cement) Fuel cost (₹/Mt) 1,170 1,023 948 Q2FY25 Q1FY26 Q2FY26 655 667 581 Q2FY25 Q1FY26 Q2FY26 Power cost (₹/Mt) Raw Material cost (₹/Mt) 868 977 893 Q2FY25 Q1FY26 Q2FY26 Other cost (₹/Mt) 1,244 944 873 Q2FY25 Q1FY26 Q2FY26 18
Page 19
Operational Performance: Q2 FY26 Consolidated financials after elimination of inter company transactions ₹ Crores Q2FY25 Particulars Q2FY26 Standalone Consolidated Standalone Consolidated 1,007 1,022 Revenue from Operations 1,117 1,117 10 159 Other Income 13 29 1,016 1,181 Total Income 1,131 1,146 Expenses: 196 214 Raw Materials Consumed 214 214 1 1 Purchase of Traded Goods 0 0 29 29 Changes in Inventory 44 44 75 76 Employee Costs 58 58 414 408 Power and Fuel 367 367 244 244 Logistics Cost 198 198 212 212 Other Expenses 155 155 1,170 1,185 Total Expenses 1,036 1,036 -154 -4 EBITDA 95 110 19
Page 20
Financial Statement: Q2 FY26 ₹ Crores Consolidated financials after elimination of inter company transactions 20 Q2FY25 Particulars Q2FY26 Standalone Consolidated Standalone Consolidated 1,007 1,022 Revenue from Operations 1,117 1,117 -154 -4 EBITDA 95 110 73 73 Finance Costs 32 25 54 55 Depreciation and Amortization 74 74 -34 -16 Tax expenses -4 -4 -246 -116 PAT Before Exceptions -7 15 -6 223 Exceptional Expense / (Income) - 6 -240 -339 PAT -7 9
Page 21
Consolidated Financial Position ^Includes goodwill and asset held for sale ₹ Crores 21 Standalone Particulars Consolidated Mar-25 Sep-25 Mar-25 Sep-25 11,727 11,560 Net Fixed Assets^ 11,933 11,666 129 143 Non-Current Investments 119 92 -482 -202 Net Working Capital -105 211 11,375 11,501 Application of funds 11,947 11,969 9,623 9,605 Shareholders Fund (Incl. Minority Interest) 10,196 10,073 1,158 1,309 Net Debt 1,158 1,309 593 587 Deferred Tax Liability 593 587 11,375 11,501 Sources of funds 11,947 11,969
Page 22
Cash flow statement ₹ Crores Particulars H1 FY26 EBITDA 202 Less : Interest & lease payments -52 Less : Increase in working capital -307 Operating Cash Flow -157 Less : Capex spends -77 Add : Receipts from assets held for sale 96 Less : Investments in Renewable energy -14 Free Cash Flow to Firm -151 22
Page 23
Consolidated Annual Performance Trend Particulars FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17 FY16 Capacity (MTPA) 14.5 15.6 15.6 15.6 15.6 15.6 15.6 15.6 15.6 15.6 Total Cement Volume (MnT) 9.0 9.4 9.7 8.8 8.3 11.0 12.3 11.0 10.8 9.8 Net Sales 4,026 4,895 5,173 4,548 4,311 4,909 5,461 5,022 4,896 4,551 EBITDA -174 150 -103 509 828 636 665 734 908 897 EBIT -413 -69 -322 283 582 381 400 454 632 607 PBT before exceptions -679 -310 -564 85 311 37 50 90 252 167 Exceptional Income / (Costs) 508 42 186 0 0 -14 0 0 0 0 PBT before exceptions -171 -267 -378 85 311 24 50 90 252 167 Tax Expenses -58 -48 -208 19 102 -30 24 19 94 51 Net Earnings after Minority Interest -144 -227 -125 78 207 50 21 65 166 117 Cash Earnings -31 -61 -125 278 413 266 262 339 528 415 Key Ratios FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17 FY16 Capacity Utilization (%) 62% 65% 63% 57% 54% 71% 79% 70% 70% 63% Blended Realization (Rs/mt) 4,483 5,073 5,325 5,148 5,168 4,451 4,436 4,734 5,173 5,309 EBITDA Margin -4% 3% -2% 11% 19% 13% 12% 15% 19% 20% EBIDTA (Rs/mt) -193 159 -106 576 993 578 540 669 839 918 ₹ Crores Net Sales : Excluding Other Operating Income, 23
Page 24
Consolidated Financial Position Trend Financial Position FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17 FY16 Net Fixed Assets (Incl. Goodwill) 11,933 7,111 7,184 7,530 7,383 7,440 7,267 7,322 7,394 7,587 Investments in Subs/Associates/JVs 119 318 331 404 379 381 369 356 355 354 Net working Capital -104 1027 913 1159 1036 1489 1342 1318 935 401 Capital Employed 11,949 8,456 8,427 9,093 8,797 9,310 8,979 8,996 8,684 8,342 Shareholders Fund (Inc. Minority Interest) 10,196 5,599 5,827 6,023 5,772 5,554 5,300 5,309 5,210 5,077 Total Debt 1,159 2,625 2,317 2,539 2,470 3,163 3,048 3,034 2,811 2,685 Deferred Tax Liability 593 231 284 531 555 593 631 653 663 579 Total Equity and Liabilities 11,949 8,456 8,427 9,093 8,797 9,310 8,979 8,996 8,684 8,342 ₹ Crores 24
Page 25
Statements in this ‘presentation’ describing the Company’s objectives, estimates, expectations or predictions may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make difference to the Company’s operations include global and Indian demand supply conditions, finished goods prices, feedstock availability and prices, cyclical demand and pricing in the Company’s principal markets, changes in governmental regulations, tax regimes, economic developments within India and the countries within which the Company conducts business and other factors such as litigation and labour negotiations. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statement, due to any subsequent development, information or events, or otherwise. The India Cements Limited Regd. Office: Dhun Building, No:827,4th Floor, Mount Road, Anna Salai. Chennai 600 002. [Corporate Identity Number: L26942TN1946PLC000931] Website: www.indiacements.co.in Disclaimer 25