Ramco Cements Limited · NSE:RAMCOCEM
Ramco Cements — The Ramco Cements — Q4 FY26 Earnings Presentation
30 slides from Ramco Cements's earnings presentation, May 22, 2026
Slide 1: Investor Update filing letter to stock exchanges
Corporate Office: Auras Corporate Centre, V Floor, 98-A, Dr. Radhakrishnan Salai, Mylapore, Chennai – 600 004, India. Phone: +91-44 28478666, Fax: +91-44 28478676 Web Site: www.ramcocements.in THE RAMCO CEMENTS LIMITED Corporate Identity Number: L26941TN1957PLC003566 22 May 2026 National Stock Excha
Slide 2: Investor Update for Q4FY26 / FY26 - from Strength to Strength
I N VE STOR UPDAT E FOR Q4FY26 / FY26 from STRENGTH to STRENGTH T H E R A M C O C E M E N T S L I M I T E D
Slide 3: Contents
Contents Overview TRCL’ M k u Sales & Capacity Utilization Key Performance Financial Analysis & Key Ratios Capex & Borrowings update ESG Update Ariyalur Integrated Plant Awards & Accolades
Slide 4: Overview
Overview ▪ India’s real GDP grew 7.6% in FY26, led by private consumption and fixed investment. FY27 real GDP growth projected at 6.9% reflecting energy supply disruptions, rising oil and gas prices and currency volatility. ▪ FY27 CPI projected at 4.6%. RBI held the repo rate at 5.25% in the April 2
Slide 5: Market update: South and East
TRCL’ M k u f South East ▪ Volume from B2C have grown whereas B2B have de-grown YoY ▪ Volume from B2C have grown whereas B2B have de-grown YoY ▪ Share of premium products in 4QFY26: 28%; 4QFY25: 27% ▪ Share of premium products in 4QFY26: 22%; 4QFY25: 23% ▪ Volume share for 4QFY26: 75%; 4QFY25: 75% ▪
Slide 6: Sales & Capacity utilization for 4QFY26
Sales & Capacity utilization for 4QFY26 Cement Capacity Utilization % 85% 83% 73% Utilization Utilization Utilization 4QFY25 4QFY26 3QFY26 Cement Sales (Lac Tons) Construction Chemicals Sales (Lac Tons) 1.64 1.54 52.02 53.89 44.33 0.87 4QFY25 4QFY26 3QFY26 4QFY25 4QFY26 3QFY26
Slide 7: Sales & Capacity utilization for FY26
Sales & Capacity utilization for FY26 Cement Capacity Utilization % 77% 74% Utilization Utilization FY25 FY26 Cement Sales (Lac Tons) Construction Chemicals Sales (Lac Tons) 181.74 182.20 5.86 3.26 FY25 FY26 FY25 FY26
Slide 8: Key Performance for 4QFY26
Key Performance for 4QFY26 ` in Crores Revenue Cash profit 2,618 637 2,405 2,119 349 231 4QFY25 4QFY26 3QFY26 4QFY25 4QFY26 3QFY26 Cash profit = PBT + Depreciation – Current Tax (including Exceptional Items) Profit Before Tax (excluding Exceptional Items) Profit After Tax 103 387 38 146 7 31 4QFY25
Slide 9: Key Performance for FY26
Key Performance for FY26 ` in Crores Revenue Cash Profit 1,567 8,539 9,056 1,157 FY25 FY26 FY25 FY26 Cash profit = PBT + Depreciation – Current Tax (including Exceptional Items) Profit Before Tax (excluding Exceptional Items) Profit After Tax 694 326 417 126 FY25 FY26 FY25 FY26 Raw material cost has
Slide 10: EBITDA
EBITDA ` in Crores 500 1,482 400 385 1,276 334 298 300 200 100 - 4QFY25 4QFY26 3QFY26 FY25 FY26 EBITDA / Ton ` 631 / T ` 693 / T ` 651 / T ` 690 / T ` 788 / T Rupee depreciation by 4% YoY during FY26 impacted the fuel cost Average Cement prices of 4QFY26 improved by 3% YoY & by 2% QoQ EBITDA impacte
Slide 11: Interest
Interest ` in Crores 160 16.00% 500 16.00% 459 140 14.00% 450 419 14.00% 400 120 113 108 12.00% 12.00% 350 100 95 10.00% 10.00% 300 80 8.00% 250 8.00% 7.84% 200 7.90% 60 7.06% 7.10% 6.00% 7.29% 6.00% 150 40 4.00% 4.00% 100 20 2.00% 2.00% 50 - 0.00% - 0.00% 4QFY25 4QFY26 3QFY26 FY25 FY26 Effective ra
Slide 12: Depreciation
Depreciation ` in Crores 200 182 187 184 691 736 180 160 140 120 100 80 60 40 20 - 4QFY25 4QFY26 3QFY26 FY25 FY26 Depreciation increased due to commissioning of manufacturing facilities viz. WHRS at RR Nagar, Railway Siding at Kolimigundla during FY26
Slide 13: Standalone Revenue
Standalone Revenue ` in Crores 4QFY26 4QFY25 Variance % Particulars FY26 FY25 Variance % 2,512.16 2,332.72 8% Cement 8,663.17 8,285.04 5% 93.98 59.23 59% Construction Chemicals (Note) 349.40 210.06 66% 12.18 12.95 6% Other Income 43.35 44.00 1% 2,618.32 2,404.90 9% Total Revenue 9,055.92 8,539.10 6%
Slide 14: Income Statement for 4QFY26
Income Statement for 4QFY26 ` in Crores Standalone Consolidated Particulars 4QFY26 4QFY25 Variance % 4QFY26 4QFY25 Variance % 2,618.32 2,404.90 9% Revenue 2,622.08 2,409.72 9% 2,233.31 2,071.05 8% Less: Operating Expenses 2,239.66 2,078.04 8% 385.01 333.85 15% EBITDA 382.42 331.68 15% 95.23 113.33 1
Slide 15: Income Statement for FY26
Income Statement for FY26 ` in Crores Standalone Consolidated Particulars FY26 FY25 Variance % FY26 FY25 Variance % 9,055.92 8,539.10 6% Revenue 9,070.22 8,559.57 6% 7,574.36 7,263.25 4% Less: Operating Expenses 7,592.78 7,285.86 4% 1,481.56 1,275.85 16% EBITDA 1,477.44 1,273.71 16% 419.35 458.76 9%
Slide 16: Cost of raw materials per ton
Cost of raw materials per ton In ` 1,023 1,031 956 1,012 963 4QFY25 4QFY26 3QFY26 FY25 FY26 Raw material cost per ton increased due to levy of mineral bearing land tax in TN from Apr-2025, which has an impact of ` 86 per ton of cement for FY26 at Company level amounting to ~ ` 150 Crores for FY26 &
Slide 17: Logistics cost per ton
Logistics cost per ton In ` 1,068 1,076 1,050 1,055 1,054 4QFY25 4QFY26 3QFY26 FY25 FY26 Rail Co-efficient for cement despatches: 4QFY26 is 12% vs. 13% in 4QFY25 & Rail Co-efficient for cement despatches: FY26 is 9% vs. 9% in FY25 8% in 3QFY26 Avg. lead distance for cement despatches: FY26 is 260 KM
Slide 18: Power and Fuel Cost per ton
Power and Fuel Cost per ton In ` 1,088 1,123 1,098 1,030 1,072 4QFY25 4QFY26 3QFY26 FY25 FY26 Blended Fuel consumption (incl. TPP) per T of material: 4QFY26: $ 120; 4QFY25: $ 121; 3QFY26: $ 127; FY26: $ 124; FY25: $ 127 Blended Fuel cost per Kcal: 4QFY26 : ` 1.62; 4QFY25: ` 1.50; 3QFY26 : ` 1.57; FY
Slide 19: Power Mix
Power Mix 20% 13% 26% 40% 43% 46% 3QFY26 4QFY25 4QFY26 34% 47% 31% Grid power Green Power Thermal Power Record high generation of wind power during FY26; Up by 19% YoY 17% 23% 41% 43% FY25 FY26 40% 36%
Slide 20: Fuel Mix
Fuel Mix 33% 30% 46% 4QFY25 4QFY26 53% 3QFY26 1% 66% 1% 69% 1% Coal Alternate Fuel Pet coke Optimal usage of fuel based on Cost per CV 35% FY25 47% FY26 52% 63% 2% 1%
Slide 21: Employee Cost per ton
Employee Cost per ton In ` 294 300 285 257 234 4QFY25 4QFY26 3QFY26 FY25 FY26 Increase in FY26 YoY was due to annual increments and additional manpower recruited for construction chemicals business
Slide 22: Other Expenditure per ton
Other Expenditure per ton In ` 546 559 556 513 532 4QFY25 4QFY26 3QFY26 FY25 FY26 Increase was due to higher brand promotion spend for construction chemicals business and increase in repairs & maintenance expenses
Slide 23: Summarized Financial Position
Summarized Financial Position ` in Crores Standalone Consolidated Particulars 31-03-2026 31-03-2025 31-03-2026 31-03-2025 13,905.87 13,724.33 Fixed Assets including CWIP 13,907.98 13,730.39 103.82 135.15 Investments 59.94 90.06 624.03 570.29 Loans and Advances 617.97 554.13 1,028.08 1,015.04 Invento
Slide 24: Summarized Cash flow
Summarized Cash flow ` in Crores Particulars FY26 FY25 Operating Profit 1,481.56 1,275.85 Changes in working capital 223.32 166.21 Direct Tax paid (-) 41.99 (-) 20.16 Others (-) 51.81 (-) 19.68 Net cash flow from Operating Activities 1,611.08 1,402.22 Capital Expenditure (-) 996.65 (-) 1,024.01 Proc
Slide 25: Key Ratios
Key Ratios Particulars UOM 4QFY26 4QFY25 3QFY26 FY26 FY25 EBITDA Ratio % 15% 14% 14% 16% 15% PBT Ratio including Exceptional Items % 7% 2% 23% 10% 5% PAT Ratio % 6% 1% 18% 8% 5% EPS, Not Annualized ` 6.19 1.31 16.36 29.33 17.65 Debt-Equity Ratio Multiples 0.47 0.62 0.52 0.47 0.62 Debt Service Cover
Slide 26: Capex update & Borrowings
Capex update & Borrowings Borrowings ` in Crores Capex incurred during FY26: ` 997 Crores; 4QFY26: ` 174 Crores Particulars 31-03-2026 31-03-2025 Interest-bearing Borrowings 3,813.07 4,595.20 The company plans to achieve cement capacity of ~31 MTPA including debottlenecking of Interest Free / Soft L
Slide 27: ESG Update
ESG Update CO2 Emission Blended Cement Water Positive Green energy CSR 572 Kg / T of Cement 69% 4.5x 40% 193k + Beneficiaries Based on FY26 figures Firm and Focussed for a sustainable future
Slide 28: Awards & Accolades
Awards & Accolades J y hi u m u i h b wi h “G l S ” w i h Jayanthipuram unit has been awarded with Industrial Safety Leadership categories of Best in HR Technology and Best HR – Head at the 7th Edition award by Confederation of Indian Industry at the CII Andhra Pradesh of The Federation of Telangana
Slide 29: Awards & Accolades
Awards & Accolades Alathiyur & RRN unit has won 13 awards at 33rd Mines Environment and Mineral Conservation Week conducted by Tamil Nadu Mines Environment and Mineral Conservation Council.
Slide 30: Disclaimer
Disclaimer This communication, except for the historical information, may contain statements which reflect the Management’s current views and estimates and could be construed as forward looking statements. The future involves certain risks and uncertainties that could cause actual results to differ