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Stock code: BSE: 530005| NSE: INDIACEM| Reuters: ICMN.NS| Bloomberg: ICEM:IN Results Q3 FY26 The India Cements Limited
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01 Company Overview 02 Business Update 03 Financial Performance
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Chilamkur Cement Works, Andhra Pradesh Company Overview
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Plant Locations S No Plants State IU/GU Dec 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
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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. 5
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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 6
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Q3 Highlights Achieved domestic sales volume of 2.59 MnT; grew 25% yoy. Net Cement Realizations down by 2.4% qoq. Operating EBIDTA/Mt of ₹ 299, compared to ₹ 330/Mt in Q2 FY26. Capacity Utilization at 69%, increased by 11% yoy. PAT before exceptional items at ₹ 6 Crores for the quarter. 7
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Sankar Nagar Cement Works, Tamil Nadu Business Update
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Sales Performance Overview 9 75.0% 25.0% Trade % Non Trade % 82.6% 17.4% Bag Sales % Bulk Sales % 77.3% 22.7% Direct Sales Depot Sales
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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 10
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ESG at The India Cements 3% 5% 6% 9% 19% FY 25 FY 26 FY27 FY 28 FY 29 2% 3% 27% 45% 61% FY 25 FY 26 FY 27 FY 28 FY29 9MW Plan to scale up Green Power (RE+WHRS) from 5% to 80% by FY29 Waste Heat Recovery System Renewable Power 11 9MW 30MW 30MW 20MW 35MW 212MW 250MW250MW18MW
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Ongoing CSR initiatives Reached over 2400 students through multiple education initiatives Chennai Cement Works Dalavoi Cement Works Chilamkur Cement Works Sankari Cement Works Enabled agricultural support for local farmers, promoting sustainable rural livelihoods Encouraged and facilitated sustainable farming in nearby villages Delivered nutritionally balanced meals to 300+ beneficiaries across nearby villages 12
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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 13
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Sankari Cement Works, Tamil Nadu Financial Performance
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Realisation and Logistics Cost Logistics cost (₹/Mt) 1,048 813 588 Q3FY25 Q2FY26 Q3FY26 4,221 4,564 4,250 Q3FY25 Q2FY26 Q3FY26 Domestic Grey Cement Realisation (₹/Mt) Realisation = Selling Price less GST and Discounts 6.9% decline QoQ and 0.7% increase YoY decline 28% QoQ and 44% YoY 15
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Key Cost Indicators decline 28% QoQ and 44% YoY Logistics 588 Flat QoQ and 6% decline YoY Raw Materials 945 15% 24%% of total costs ₹ / Mt 16 decline 5% QoQ and 18% YoY Fuel 952 24% 2% increase QoQ and 24% decline YoY Power 626 16%
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Key Cost Indicators Fuel cost (₹/Mt) 1,161 1,004 952 Q3FY25 Q2FY26 Q3FY26 818 615 626 Q3FY25 Q2FY26 Q3FY26 Power cost (₹/Mt) Raw Material cost (₹/Mt) 1005 945 945 Q3FY25 Q2FY26 Q3FY26 Other cost (₹/Mt) 1,237 873 877 Q3FY25 Q2FY26 Q3FY26 17Impact of Change in Inventory (Clinker and Cement) is allocated to respective costs of Raw Material, Fuel and Power.
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Operational Performance Consolidated financials after elimination of inter company transactions ₹ Crores Q3FY25 Particulars Q3FY26 Standalone Consolidated Standalone Consolidated 874 874 Net Sales 1,103 1,103 28 66 Other Operating Income 11 11 11 12 Other Income 26 24 913 952 Total Income 1,140 1,138 Expenses: 201 201 Raw Materials Consumed 248 248 1 18 Purchase of Traded Goods - - 17 17 Changes in Inventory -7 -7 69 70 Employee Costs 60 60 398 411 Power and Fuel 414 414 217 217 Logistics Cost 153 153 187 196 Other Expenses 168 168 1,091 1,130 Total Expenses 1,035 1,035 -178 -178 EBITDA 105 103 18
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Financial Statement ₹ Crores Consolidated financials after elimination of inter company transactions 19 Q3FY25 Particulars Q3FY26 Standalone Consolidated Standalone Consolidated 874 874 Net Sales 1,103 1,103 -178 -178 EBITDA 105 103 74 73 Finance Costs 30 24 55 55 Depreciation and Amortization 75 75 -88 -39 Tax expenses -2 -2 - -15 Share of Profit/(Loss) from JVs & Associates - - - 4 Minority interest - - -219 -278 PAT Before Exceptions 2 6 190 -400 Exceptional Expense / (Income) 8 8 -409 122 PAT -6 -3
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Consolidated Financial Position ^Includes goodwill and asset held for sale ₹ Crores 20 Particulars Mar-25 Dec-25 Net Fixed Assets^ 11,933 11,631 Non-Current Investments 119 92 Net Working Capital -129 92 Application of funds 11,924 11,815 Shareholders Fund (Incl. Minority Interest) 10,196 10,067 Net Debt 1,135 1,164 Deferred Tax Liability 593 584 Sources of funds 11,924 11,815
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Cash flow statement ₹ Crores Particulars 9M FY26 EBITDA 305 Less : Interest & lease payments -76 Less : Increase in working capital -223 Operating Cash Flow 6 Less : Capex spends -130 Add : Receipts from assets held for sale 108 Less : Investments in Renewable energy -14 Free Cash Flow to Firm -30 21
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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, 22
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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 23
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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 24