Ramco Cements Limited · NSE:RAMCOCEM
Ramco Cements — The Ramco Cements — Q3 FY2026 Earnings Presentation
32 slides from Ramco Cements's earnings presentation, Feb 9, 2026
Slide 1: Exchange filing cover letter: Investor Update
Corporate Office: Auras Corporate Centre, V Floor, 98-A, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004, India. Tel: +91 44 2847 8666 Fax: +91 44 2847 8676 8 Website: www.ramcocements.in RAMCO THE RAMCO CEMENTS LIMITED Corporate Identity Number: L26941TN1957PLC003566 9 February 2026 National S
Slide 2: Investor Update for 3QFY26 / 9MFY26
Precision Progress in Every Layer in Every Step Ariyalur Integrated Plant The Ramco Cements Limited Investor Update for 3QFY26 / 9MFY26
Slide 3: Contents
Contents Overview TRCL’s Market update 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 growth for FY27 is projected to be in the range of 6.8% to 7.2% given the strong agricultural performance bolstering rural incomes and consumption, while improvements in urban demand supported by tax rationalization measures. India recorded the lowest inflation rate sin
Slide 5: TRCL's Market update for 3QFY26
TRCL’s Market update for 3QFY26 South East Volume from B2B & B2C have grown YoY Volume from B2C have grown YoY whereas B2B remain flat YoY Share of premium products in 3QFY26: 29%; 3QFY25: 26% Share of premium products in 3QFY26: 22%; 3QFY25: 23% Volume share for 3QFY26: 80%; 3QFY25: 79%
Slide 6: Range of Construction Chemicals Products
Range of Construction Chemicals Products 77% YoY 79% YoY 4% QoQ Volume growth in 9MFY26 Volume growth in Q3FY26 Volume growth in Q3FY26 Explore our promotional campaigns:
Slide 7: Sales & Capacity utilization for 3QFY26
Sales & Capacity utilization for 3QFY26 Cement Capacity Utilization % 75% 73% 71% Utilization Utilization Utilization 3QFY25 3QFY26 2QFY26 Cement Sales (Lac Tons) Construction Chemicals Sales (Lac Tons) 1.54 1.48 42.79 44.33 44.00 0.86 3QFY25 3QFY26 2QFY26 3QFY25 3QFY26 2QFY26
Slide 8: Sales & Capacity utilization for 9MFY26
Sales & Capacity utilization for 9MFY26 Cement Capacity Utilization % 75% 71% Utilization Utilization 9MFY25 9MFY26 Cement Sales (Lac Tons) Construction Chemicals Sales (Lac Tons) 129.72 128.31 4.22 2.39 9MFY25 9MFY26 9MFY25 9MFY26
Slide 9: Key Performance for 3QFY26
Key Performance for 3QFY26 ` in Crores Revenue Cash profit 2,119 2,242 637 1,988 512 282 3QFY25 3QFY26 2QFY26 3QFY25 3QFY26 2QFY26 Cash profit = PBT + Depreciation – Current Tax (including Exceptional Items) Profit Before Tax (including Exceptional Items) Profit After Tax 486 387 333 325 100 74 3QFY
Slide 10: Key Performance for 9MFY26
Key Performance for 9MFY26 ` in Crores Revenue Cash Profit 6,438 1,218 6,134 926 9MFY25 9MFY26 9MFY25 9MFY26 Cash profit = PBT + Depreciation – Current Tax (including Exceptional Items) Profit Before Tax (including Exceptional Items) Profit After Tax 547 702 386 416 9MFY25 9MFY26 9MFY25 9MFY26 Raw m
Slide 11: EBITDA
EBITDA ` in Crores 500 394 1,097 400 942 291 298 300 200 100 - 3QFY25 3QFY26 2QFY26 9MFY25 9MFY26 EBITDA / Ton ` 666 / T ` 651 / T ` 866 / T ` 713 / T ` 827 / T Rupee depreciation by 4% YoY during 9MFY26 impacted the fuel cost Average Cement prices of 3QFY26 improved by 1% YoY & down by 6% compared
Slide 12: Interest
Interest ` in Crores 160 16.00% 16.00% 345 350 324 140 14.00% 14.00% 300 120 113 108 111 12.00% 12.00% 250 100 10.00% 10.00% 200 80 8.00% 8.00% 7.89% 150 7.93% 60 7.10% 7.18% 6.00% 7.28% 6.00% 40 4.00% 100 4.00% 20 2.00% 50 2.00% - 0.00% - 0.00% 3QFY25 3QFY26 2QFY26 9MFY25 9MFY26 Effective rate of i
Slide 13: Depreciation
Depreciation ` in Crores 200 184 182 549 180 174 509 160 140 120 100 80 60 40 20 - 3QFY25 3QFY26 2QFY26 9MFY25 9MFY26 Depreciation increased due to commissioning of manufacturing facilities viz. WHRS at RR Nagar, Railway Siding at Kolimigundla during 9MFY26
Slide 14: Standalone Revenue
Standalone Revenue ` in Crores 3QFY26 3QFY25 Variance % Particulars 9MFY26 9MFY25 Variance % 2,011.69 1,925.03 5% Cement 6,151.01 5,952.32 3% 89.77 51.54 74% Construction Chemicals (Note) 255.42 150.83 69% 17.64 11.26 57% Other Income 31.17 31.05 - 2,119.10 1,987.83 7% Total Revenue 6,437.60 6,134.2
Slide 15: Income Statement for 3QFY26
Income Statement for 3QFY26 ` in Crores Standalone Consolidated Particulars 3QFY26 3QFY25 Variance % 3QFY26 3QFY25 Variance % 2,119.10 1,987.83 7% Revenue 2,122.86 1,994.26 6% 1,820.63 1,697.14 7% Less: Operating Expenses 1,825.90 1,704.39 7% 298.47 290.69 3% EBITDA 296.96 289.87 2% 108.00 112.51 4%
Slide 16: Income Statement for 9MFY26
Income Statement for 9MFY26 ` in Crores Standalone Consolidated Particulars 9MFY26 9MFY25 Variance % 9MFY26 9MFY25 Variance % 6,437.60 6,134.20 5% Revenue 6,448.14 6,149.85 5% 5,341.05 5,192.20 3% Less: Operating Expenses 5,353.12 5,207.82 3% 1,096.55 942.00 16% EBITDA 1,095.02 942.03 16% 324.12 345
Slide 17: Cost of raw materials per ton
Cost of raw materials per ton In ` 1,020 953 1,012 995 969 3QFY25 3QFY26 2QFY26 9MFY25 9MFY26 Raw material cost per ton increased due to levy of mineral bearing land tax in TN from Apr-2025, which has an impact of ` 90 to ` 110 per ton of cement at Company level amounting to ~ ` 115 Crores for 9MFY2
Slide 18: Logistics cost per ton
Logistics cost per ton In ` 1,068 1,050 1,044 1,050 1,044 3QFY25 3QFY26 2QFY26 9MFY25 9MFY26 Rail Co-efficient for cement despatches: 3QFY26 is 8% vs. 9% in 3QFY25 & Rail Co-efficient for cement despatches: 9MFY26 is 8% vs. 8% in 9MFY25 7% in 2QFY26 Avg. lead distance for cement despatches: 9MFY26 i
Slide 19: Power and Fuel Cost per ton
Power and Fuel Cost per ton In ` 1,160 1,109 1,061 1,088 1,029 3QFY25 3QFY26 2QFY26 9MFY25 9MFY26 Blended Fuel consumption (incl. TPP) per T of material: 3QFY26: $ 127; 3QFY25: $ 122; 2QFY26: $ 122; 9MFY26: $ 125; 9MFY25: $ 130 Blended Fuel cost per Kcal: 3QFY26 : ` 1.57; 3QFY25: ` 1.45; 2QFY26: ` 1
Slide 20: Power Mix
Power Mix 13% 13% 23% 38% 40% 39% 3QFY25 3QFY26 2QFY26 47% 48% 39% Grid power Green Power Thermal Power Record high generation of wind power during 9MFY26; Up by 25% YoY 16% 22% 41% 42% 9MFY25 9MFY26 42% 37%
Slide 21: Fuel Mix
Fuel Mix 27% 46% 50% 2QFY26 49% 3QFY25 53% 3QFY26 4% 69% 1% 1% Coal Alternate Fuel Pet coke Optimal usage of fuel based on Cost per CV 36% 9MFY25 52% 9MFY26 46% 62% 2% 2%
Slide 22: Employee Cost per ton
Employee Cost per ton In ` 318 318 301 294 306 3QFY25 3QFY26 2QFY26 9MFY25 9MFY26 Increase in 9MFY26 was due to annual increments and additional manpower recruited for construction chemicals business
Slide 23: Other Expenditure per ton
Other Expenditure per ton In ` 559 578 574 524 526 3QFY25 3QFY26 2QFY26 9MFY25 9MFY26 Increase was due to higher brand promotion spend for construction chemicals business and increase in repairs & maintenance expenses
Slide 24: Key Ratios
Key Ratios Particulars UOM 3QFY26 3QFY25 2QFY26 9MFY26 9MFY25 FY25 EBITDA Ratio % 14% 15% 18% 17% 15% 15% PBT Ratio including Exceptional Items % 23% 17% 2% 11% 7% 5% PAT Ratio % 18% 16% 3% 9% 6% 5% EPS, Not Annualized ` 16.36 13.76 3.14 23.14 16.34 17.65 Debt-Equity Ratio Multiples 0.52 0.62 0.61 0
Slide 25: Capex update & Borrowings
Capex update & Borrowings Borrowings ` in Crores Capex incurred during 9MFY26: ` 823 Crores; 3QFY26: ` 222 Crores Particulars 31-12-2025 31-03-2025 Interest-bearing Borrowings 4,150.29 4,595.20 The company plans to achieve cement capacity of ~31 MTPA by Mar-27 including debottlenecking of existing i
Slide 26: Capacity by FY27
Capacity by FY27 Clinker Cement CCD * WHRS TPP Windmills Particulars Timeline MTPA MTPA LTPA MW MW MW Capacity as at Dec-25 15.94 24.44 5.21 53 193 166 Debottlenecking during Q4FY26 • Ariyalur, Tamil Nadu - 2.00 - - - - Feb-26 • Ramasamy Raja Nagar, Tamil Nadu 0.62 1.00 - - - - Mar-26 Capacity as at
Slide 27: ESG Update
ESG Update CO2 Emission Blended Cement Water Positive Green energy CSR 573 Kg / T of Cement 65% 4.5x 47% 3k + Beneficiaries Based on 3QFY26 figures Firm and Focussed for a sustainable future
Slide 28: Awards & Accolades
Awards & Accolades Hard Worker, the construction chemicals brand from The Ramco Cements Limited, emerged as a double Gold winner at the ET Brand Equity Shark Awards 2025 – South Chapter, held on December 5, 2025, at Taj Wellington Mews, Chennai, reinforcing the brand’s strong connect with audiences
Slide 29: Awards & Accolades
Awards & Accolades Ariyalur unit had been awarded Honourz Excellence Awards for its Leadership in EHS Culture, CSR Excellence and HR Excellence, by “Honourz Excellence” an institution which recognizes and celebrate outstanding achievements across industries in safety, sustainability, innovation, and
Slide 30: Awards & Accolades
Awards & Accolades Ariyalur unit had been bestowed with National Award for Mining Excellence – for sustainable mining practices, Health and Safety Kolimigundla Unit had won 9 Awards under “Excellence Unit” - for health & safety and innovation and CSR Excellence – for Category at the 4th National Env
Slide 31: Awards & Accolades
Awards & Accolades Jayanthipuram unit had won 4 Gold Awards at the 2nd Kaizen Kolimigundla Unit had won a Rhodium Award in Autonomous Convention Centre conducted by Quality Circle Forum of India, Maintenance Competition organized by ABK-AOTS DOSOKSI on 20th Hyderabad Chapter. November 2025
Slide 32: 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