Mumbai: India Cements reported a 98.6 percent year-on-year reduction in standalone net loss to Rs 5.72 crore in Q3 FY26, with revenue from operations remaining nearly flat sequentially at Rs 1,114.13 crore. Compared to a loss of Rs 6.85 crore in Q2 and Rs 409.38 crore in Q3 FY25, the company’s quarterly trajectory signals stabilizing operations amid cost efficiencies.
Total income rose marginally to Rs 1,139.88 crore, while expenses remained nearly unchanged at Rs 1,139.81 crore, aiding improved margins.
Operational Performance Improves Significantly YoY
India Cements posted Rs 1,114.13 crore in standalone revenue in Q3 FY26, nearly unchanged from Rs 1,117.15 crore in Q2 but up 23.5 percent from Rs 902.19 crore in Q3 FY25. Net loss narrowed sharply to Rs 5.72 crore from Rs 6.85 crore in the previous quarter and a substantial Rs 409.38 crore a year ago.
The revenue and profitability improvements were driven by stable cement pricing, moderating fuel costs, and rationalization in logistics and employee expenses.
Sequential Growth Moderates Amid Cost Controls
Quarter-on-quarter, revenue declined marginally by Rs 3 crore, while total expenses eased slightly from Rs 1,141.85 crore to Rs 1,139.81 crore. Notable cost movements included a reduction in freight & forwarding expenses (down Rs 45.5 crore) and a controlled power & fuel bill. Finance costs stood at Rs 30.46 crore, marginally down from Rs 31.62 crore. Depreciation remained steady.
The company recognized Rs 7.72 crore under exceptional items due to the implementation of new labour codes.
Labour Code Provision Impacts Bottom Line; Key Drivers Hold
According to the company, the net loss for the quarter includes a one-time charge related to India’s new labour codes, impacting employee-related provisions. Despite this, operational efficiency gains were visible. Management noted improved capacity utilization and ongoing restructuring of non-core assets.
EPS improved from Rs (0.22) in Q2 to Rs (0.18) in Q3, a significant rebound from Rs (13.21) in the year-ago quarter. There were no new dividends or corporate actions announced during the quarter.
Nine-Month Performance Strengthens on Operational Turnaround
For the nine months ended December 2025, India Cements reported Rs 3,255.91 crore in revenue, a 13.2 percent increase over Rs 2,875.55 crore in the same period last year. The net loss was sharply reduced to Rs 26.34 crore from Rs 591.90 crore, reflecting effective cost control and business normalisation.
The company continued its deleveraging journey and reaffirmed focus on asset optimisation and operational discipline heading into the final quarter.
Disclaimer: This report is based on publicly disclosed financial results by Adani Green. It is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell.
