Interim report
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Orient Cement Limited Registered Office Adani Corporate House Shantigram, Near Vaishno Devi Circle, S.G. Highway, Khodiyar, Ahmedabad – 382421, Gujarat, India Ph. +91 79-2656 5555 investors@orientcement.com www.orientcement.com CIN: L26940GJ2011PLC171878 October 22, 2026 BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai-400001 Scrip Code: 535754 National Stock Exchange of India Limited “Exchange Plaza”, Plot No. C-1, Block G Bandra – Kurla Complex, Bandra (East) Mumbai – 400 051 Symbol: ORIENTCEM Sub.: Outcome of Board Meeting held on October 22, 2026 and submission of Unaudited Financial Results for the quarter and half year ended September 30, 2026 as per SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (“SEBI Listing Regulations”) Dear Sir / Madam, Pursuant to the provisions of Regulation 33 and other applicable provisions of the SEBI Listing Regulations, we wish to inform you that the Board of Directors of Orient Cement Limited (the “Company”), at its meeting held today i.e. October 22, 2026, has considered and approved the Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2026. The Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2026 along with the Limited Review Report issued by the Statutory Auditors are enclosed herewith. This intimation will also be uploaded on the Company’s website at https://orientcement.com/. The Board Meeting commenced at 5:30 p.m. and concluded at 6:30 p.m. Please take the above on your record. Thanking you, Yours Sincerely, For Orient Cement Limited Pranjali Dubey Company Secretary & Compliance Officer Membership No. A52179 Encl: As above
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a Cement ORIENT CEMENT LIMITED CIN : L26940GJ2011PLC171878 Registered Office : Adani Corporate House, Shantigram, Near Vaishnav Devi Circle, S. G. Highway, Khodiyar, Ahmedabad, Gujarat 382421 Tel No : +91 79 2656 55555 . Website : www.orientcement.com . Email: investors .relation@)adani.com Statement of unaudited financial results for the quarter and half year ended September 30, 2026 Year to date Year to date 3 months Preceding 3 Corresponding 3 figures for current figures for previous For the Year ended months ended months ended period period ended Particulars 30-09-2026 30-06-2026 30·09-2025 from 01-04-2026 from 01-04-2025 to 31-03-2026 to 30-09-2026 30-09-2025 Unaudited Unaudited Unaudited Unaudited Unaudited Audited (~ in crore) 1 Income a) Revenue from operations 565 604 643 1.169 1,510 2.793 b) Other income 13 5 12 18 14 23 Total Income 578 609 655 1,187 1,524 2,816 2 Expenses a) Cost of materials consumed 174 149 146 323 282 653 b) Changes in inventories of finished goods and work- in- progress 1 (26) 4 (25) 5 15 c) Employee benefits expense 35 37 43 72 85 162 d) Finance costs 1 3 2 4 6 13 e) Depreciation and amort isation expense (Refer note 6) 43 43 101 86 138 231 f) Power and fuel 201 227 212 428 451 920 g) Packing, freight and forwarding charges 30 31 22 61 222 276 h) Other expenses 49 42 51 91 117 222 Total Expenses 534 506 581 1,040 1,306 2,492 3 Profit before exceptional item and tax (1-2) 44 103 74 147 218 324 4 Exceptional item· Expense (Refer note 9) 6 5 Profit before tax (3-4) 44 103 74 147 218 318 6 Tax expense (Refer note 7) a) Current tax 18 32 40 50 79 117 b) Adjustment of tax relating to earlier periods (17) (17) c) Deferred tax credit (6) (6) (15) (12) (98) (120) Total tax expense/ (credit) 12 26 25 38 (36) (ZO) 7 Profit after tax (5-6) 32 77 49 109 254 338 8 Other comprehensive income i) Items that will be reclassified to profit or loss ii) Items that will not be reclassified to profit or loss a) Remeasurement gains on defined benefit plans 3 0 1 3 4 4 b) Income tax effect on above (1) (O) (0) (1) (1) (1) Total other comprehensive income (net of tax) 2 0 1 2 3 3 9 Total comprehensive income (net of tax) (7+8) 34 77 50 111 257 341 10 Paid-up equity share capital (face value ~ 1/- per share. 21 21 21 21 21 21 fully paid) 11 Other equity 2,125 12 Earnings per share of ~ 1 each (not annualised for quarters) Basic and Diluted 1.56 3.76 2.39 5.31 12.38 16.44
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ORIENT CEMENT LIMITED CIN: L26940GJ2011PLC171878 a a Cemen t Registered Office : Adani Corporate House, Shantigram. Near Vaishnav Devi Circle, S. G. Highway, Khodiyar, Ahmedabad, Gujarat 382421 Tel No : +91 79 2656 55555 . Website: www .orientcement.com . Email: lnvestors.relation@adani.com Balance sheet as at September 30, 2026 (fin crore) Sr.No. I) ASSETS 1) NON-CURRENT ASSETS a) Property, plant and equipment b) Right-of -use assets c) Capital work-in-progress d) Intangible assets e) Financial assets (i) Investments (ii) Loans (iii) Other financial assets f) Non Current tax assets (net) g) Other non-current assets TOTAL NON CURRENT ASSETS 2) CURRENT ASSETS a) Inventories b) Financial assets (i) Trade receivables (ii) Cash and cash equivalents Particulars (iii) Bank balances other than cash and cash equivalent (iv) Loans (v) Other financial assets c) Other current assets TOTAL CURRENT ASSETS TOT AL ASSETS II) EQUITY AND LIABILITIES 1) EQUITY a) Equity share capital b) Other equity TOTAL EQUITY LIABILITIES 2) NON-CURRENT LIABILITIES a) Financial liabilit ies (i) Borrowings (ii) Lease liabilities b) Provisions c) Deferred tax liabilities (net) d) Other non-current liabilities TOTAL NON CURRENT LIABILITIES 3) CURRENT LIABILITIES a) Financial liabilities (i) Lease liabilities (ii) Trade payables Total outstanding dues of micro enterprises and small enterprises Total outstanding dues of creditors other than micro enterprises and small enterprises (ii i) Other financial liabilities b) Other current liabilities c) Provisions d) Current tax liab ilities (net) TOTAL CURRENT LIABILITIES TOTAL LIABILITIES TOTAL EQUITY AND LIABILITIES As at September 30. 2026 (Unaudited) - c,~N\ EIV ;- Ii ~l ~ ~~ - 1,611 30 49 57 13 0 24 2 33 1,819 276 310 5 1 512 21 221 1,346 3,165 21 2,226 2,247 40 31 19 205 32 327 2 22 379 42 13 44 89 591 918 3,165 As at March 31, 2026 (Audited) 1,689 31 32 59 13 0 23 2 32 1,881 229 840 16 3 0 27 137 1,252 3,133 21 2,125 2,146 38 32 24 216 34 344 2 24 449 56 23 46 43 643 987 3,133
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ORIENT CEMENT LIMITED CIN: L26940GJ2011PLC171878 a Cement Registered Office : Adani Corporate House, Shantigram, Near Vaishnav Devi Circle, S. G. Highway, Khodiyar, Ahmedabad, Gujarat 382421 Tel No: +91 79 2656 55555. Website: www.orientcement.com . Email: investors.relation@adani.com Statement of Cash Flows for the half year ended September 30, 2026 (A) OPERATING ACTIVITIES : Profit before tax Adjustments for : Particulars Depreciation and amortisation expenses Finance costs Loss on sale/ discard of property, plant and equipment (net) Loss allowance on trade receivables, advances and other receivables Liabilities no longer required written back Unrealised exchange rate difference (net) Profit on sale and fair valuation of investments in mutual fund (net) Interest income OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES Working Capital Adjustments: Decrease in other liabilities, including financial liabilitites (Decrease) I Increase in Trade payables Decrease in provisions (Increase)/ Decrease in inventories Decrease / (Increase) in trade receivables Increase in other assets, including financial assets CASH GENERATED FROM OPERATIONS: Income tax paid (net) NET CASH GENERATED FROM/ (USED IN) OPERATING ACTIVITIES (B) INVESTING ACTIVITIES : Payment made on purchase of Property. plant and equipment("PPE") and other intangible assets (Including capital work-in-progress and capital advances) Proceeds from sale of property, plant and equipment lntercorporate deposit given to/ received back from Hold ing Company (net) Proceeds from current Investments (net) Proceeds on deposits with banks (net) Interest Received NET CASH FLOWS (USED IN)/ GENERATED FROM INVESTING ACTIVITIES (C) FINANCING ACTIVITIES : Proceeds from issue of equity shares under ESOP Proceeds from borrowings - Term loan Principal payments of lease liabilities (including interest) Finance costs paid Dividends paid NET CASH FLOWS (USED IN)/ GENERATED FROM FINANCING ACTIVITIES NET DECREASE IN CASH AND CASH EQUIVALENTS (A+B+C) Cash and cash equivalents at the beginning of the period Balances with banks Cheques on hand Cash on hand Cash and cash equivalents at the end of the period Balances with banks For the half year ended September 30, 2026 (Unaudited) 147 86 4 0 1 (1) 0 (15) 222 (26) (71) (7) (47) 529 (64) 536 (3) 533 (21) 0 (512) (532) (2) (10) (12) (11) 16 16 5 5 (tin crore) For the half year ended September 30, 2025 (Unaudited) 218 138 6 0 (11) (1) (2) 348 (68) 86 (5) 59 (311) (91) 18 (74) (56) (16) 30 0 1 16 7 8 (3) (1) (1 O) (39) 47 1 0 48 9 9
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a a C e m en t ORIENT CEMENT LIMITED Unaudited Financial Results for the quarter and half year ended September 30, 2026: 1. The above financial results of Orient Cement Limited ("the Company") have been prepared in accordance with Indian Accounting Standards ("Ind AS") prescribed under Section 133 of the Companies Act. 2013 ('the Act') read with the relevant rules thereunder and in terms of Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulat ions, 2015, as amended. 2. The above financial results of the Company were reviewed by the Audit Committee and taken on record by the Board of Directors of the Company at their respective meetings held on October 22, 2026. 3. The Company operates in a single reportable segment, viz manufacture and sale of cement, in accordance with Ind AS 108 - "Operating Segments". 4. Ambuja Cements Limited (the "Acquirer") entered into Share Purchase Agreement ("SPA") with the erstwhile promoters / promoter group and certain public shareholders of the Company on October 22, 2024. In terms of the said SPA, the Acquirer acquired 9,58,73,163 equity shares (46.66%) of the Company on April 22, 2025. The Acquirer has taken over operational and financial control over the Company with effect from April 22, 2025 . Pursuant to the said acquisition, the Company has become a subsidiary of Ambuja Cements Limited . Further, in accordance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations. 2011. the Acquirer has made open offer for acquisition of 5,34,19.567 (26.00%) equity shares . of the Company from the public shareholders at a price of~ 395.40/- per share, which was completed on June 18, 2025. Accordingly, the total shareholding by the Acquirer increased to 14,92,92,730 (72.66%) equity shares in the Company. 5. On April 7, 2025, the Company allotted 349,976 fully paid paid-up equity shares of t 1/- each, pursuant to exercise of employee stock options under the Orient Cement Limited Employees Stock Option Scheme 2015. Consequent to the aforesaid allotment , the paid-up share capital of the Company has increased . 6. During the quarter ended September 30, 2025 and year ended March 31 , 2026. the Company had reassessed useful life and residual value of Property, Plant and Equipment and depreciation method for Power Plant based on internal technical evaluation. Due to above-mentioned changes in estimates, the depreciation expenses for the during the quarter ended September 30, 2025 and year ended March 31, 2026, was higher by t 63 Crore. 7. The Government of India introduced Section 115BAA in the Income-tax Act, 1961, which provides domestic companies the option to pay corporate tax at a reduced rate effective from April 1. 2019, subject to fulfillment of specified conditions. During the previous year ended March 31, 2026, the Company had opted for the reduced tax rate regime under Section 115BAA due to which the net deferred tax liability as on April 01, 2025, which was previously recognized at the erstwhile higher tax rate, had been remeasured at the reduced rate, resulting in a reversal of~ 81 Crore during the previous year ended March 31. 2026 . Further, pursuant to the adoption of the reduced tax regime under Section 115BAA, the Company had also reversed excess income tax provision oft 17 Crore created for financial year 2024-25. 8. During the previous year ended March 31, 2026, the Board of Directors of the Company had, vide its resolutions dated December 22, 2025, approved the Scheme of Amalgamation between the Company ("Transferor Company'\ Ambuja Cements Limited (ffTransferee Company") and their respective shareholders under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 ("Act") w.e. f. appointed date May 1, 2025 . Upon the Scheme becoming effective, the equity shareholders of the Transferor Company (Other than Transferee Company) will be issued and allotted 33 equity shares of the face value oft 2 each fully paid of the Transferee Company, for every 100 equity shares of the face value of ~ 1 each fully paid held by shareholders in the Transferor Company. Equity Shares held by the Transferee Company in the Transferor Company shal ~-~ and extinguished.
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a ,c m cnt Pursuant to the order of the NCLT dated July 20, 202 6, a meeting of the equity shareholders of the Company was convened on September 28, 2026, at which the Scheme was duly approved by the shareholders with the requisite statutory majority. Thereafter, the joint Company petition seeking sanction of the Scheme was presented before the NCLT on September 30, 2026. By order dated October 8, 2026, the NCLT has fixed November 19, 2026 , as the date of hearing of the joint Company petition . 9. As on November 21. 2025, the Government of India notified four Labour Codes effective immediately replacing the existing 29 labour laws. The impact of implementat ion of the Labour Codes had resulted in an increase of~ 6 Crore in the liabilities for defined benefit obligation. The amount had been measured and recognised based on management's assessment of the impact on defined benefit obligation on such implementation and net incremental liabilities were recognised as an "Exceptional item" in the financial results for the year ended March 31, 2026. During the previous quarter ended June 30, 2026. the Government of India has further notified the final Central Rules under the Labour Codes . The Company has assessed the impact of aforesaid Central Rules and concluded that there is no material financial impact on the Company. The Company continues to monitor the finalisation of various State Rules and further Government clarifications on the implementation of the Labour Codes and will recognise the consequential impact, if any, based on such developments. 10. The Company basis order of Registrar of Companies, Gujarat , had shifted its Registered Office from "Unit VIII. Plot No. 7, Bhoinagar, Bhubaneswar, Orissa, 751012" to "Adani Corporate House, Shantigram. Near Vaishnav Devi Circle, 5. G. Highway, Khodiyar, Ahmedabad, Gujarat, 382421" w.e.f. January 9, 2026 . 11. The Company does not have any subsidiary company including an associate and joint venture. Accordingly, preparation of consolidated financial results is not applicable . 12. During the half year ended September 30, 2026, pursuant to the approval of the shareholders of the Company dated April 1, 2026, the Company has given loan in the nature of Inter-Corporate Depos its (ICDs) aggregating to~ 512 Crore (including t 62 Crore (Net) during the quarter ended September 30, 2026) to Holding Company, Ambuja Cements Limited. Such ICDs carry an interest rate of 8% per annum and are repayable on or before March 31, 2027. 13. The Financial Results of the Company are presented in ~ and all values are rounded to the nearest crores, except when otherwise indicated. Amounts less than t 50,00,000 have been presented as "O". Ahmedabad October 22, 2026 For and on behalf of the Board of Directors Vinod Bahety Chairman DIN - 09192400
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1201 - 901 . North Tower, One42, Chhanalal Joshi Marg , Opp. Jayantilal Park BATS, Off. Ambli BATS Road, Ahmedabad 380 054 . Dial: 91 - 79 - 6819 8900 - 901 ; E-mail : info@gkcco.com Limited Review Report on unaudited financial results of Orient Cement Limited for the quarter ended 30 September 2026 and year to date results for the period from 01 April 2026 to 30 September 2026 pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements} Regulations, 2015, as amended The Board of Directors, ORIENT CEMENT LIMITED 1. We have reviewed the accompanying Statement of unaudited financial results of ORIENT CEMENT LIMITED (hereinafter referred to as "the Company") for the quarter ended 30 September 2026 and year to date results for the period from 01 April 2026 to 30 September 2026 (hereinafter referred to as "the Statement"), being submitted by the Company pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (hereinafter referred to as "Listing Regulations"). 2. This Statement , which is the responsibility of the Company's management and approved by its Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standards 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 as amended, and other accounting principles generally accepted in India and in compliance with Regulation 33 of Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly , we do not express an audit opinion. 4. Based on our review conducted as above and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. Place : Ahmedabad Date : 22 October 2026 [Firm Registrati o. 101895W] Chartered Ac o SANDIP A. PARIKH Partner Mem. No. 040727 uD1N : 2Go ~o ::J-2. 1--MM f1l Rc.G 1ss=t- Branches : 708, Raheja Chambers. Free Press Journal Road, Nariman Point , Mumbai - 400 021 . Dial : 91 - 22 - 6632 4446 514/5 15. Tolstoy House. Tolstoy Marg , Janpath, New Delhi - 11 O 001 . Dial : 91 - 11-43717773-74 'Surya Bhavan' , Station Road , P etlad - 388 450. Dial : 91 - 2697 - 224 108 E-mail : info@gkcco.com