India Cements Q2 Results: Operational gains aid multi-fold profit growth, EBITDA jumps 78%

India Cements, a subsidiary of UltraTech Cement, reported a sharp improvement in its September-quarter earnings, with net profit rising more than fourfold year on year as operational efficiencies and higher capacity utilisation strengthened its performance.
The cement maker reported a net profit of ₹38.8 crore for the quarter, compared with ₹8.8 crore in the corresponding period last year. Revenue from operations increased 2.2% year on year to ₹1,142 crore, from ₹1,117 crore in the year-ago quarter. While revenue growth remained modest, the improvement in profitability was more pronounced.

Earnings before interest, tax, depreciation and amortisation rose 78% year on year to ₹145 crore, compared with ₹81 crore a year earlier. The EBITDA margin expanded to 12.7% from 7.3% in the corresponding quarter last year. The company attributed the improvement in EBITDA and profit after tax to operational efficiencies and an increase in capacity utilisation.
Capacity expansion and investment plansAlongside the improvement in quarterly performance, India Cements is pursuing investments aimed at expanding its cement capacity and improving operational efficiency across its plants. The company has approved investments of ₹2,000 crore, of which around ₹1,728 crore had been committed as of September 2026.

Its ongoing plans include expanding cement capacity by 2.8 million tonnes per annum , alongside investments in renewable energy and waste heat recovery systems. The planned energy infrastructure includes 24 megawatts of waste heat recovery system capacity and 263 MW of renewable energy power.
These initiatives are expected to support energy efficiency and help the company manage power costs, an important component of cement manufacturing expenses. India Cements has also started upgradation projects across its plants. The work is expected to continue through the third and fourth quarters.

Shares of India Cements closed at ₹302.50 on the BSE on Friday, up 1.78%, ahead of the earnings announcement. India Cements manufactures and sells cement and related products used in construction and infrastructure projects. It is a subsidiary of UltraTech Cement, part of the Aditya Birla Group.