India Cements Ltd. · NSE:INDIACEM
India Cements — The India Cements — Q3 FY26 Earnings Presentation
25 slides from India Cements's earnings presentation, Jan 23, 2026
Slide 1: Exchange filing cover letter
SH/SE/ 23.01.2026 BSE Limited National Stock Exchange of India Ltd Corporate Relationship Dept. Exchange Plaza, 5th Floor First Floor, New Trading Ring Plot No.C/1, G Block Rotunda Building Bandra-Kurla Complex Phiroze Jeejeebhoy Towers Bandra (E) Dalal Street, Fort MUMBAI 400 051. MUMBAI 400 001. S
Slide 2: The India Cements Limited Results Q3 FY26
The India Cements Limited Results Q3 FY26 Stock code: BSE: 530005| NSE: INDIACEM| Reuters: ICMN.NS| Bloomberg: ICEM:IN
Slide 3: Company Overview, Business Update, Financial Performance
01 02 03 Company Business Financial Overview Update Performance
Slide 4: Company Overview
Company Overview Chilamkur Cement Works, Andhra Pradesh
Slide 5: Plant Locations
Plant Locations Cement Capacity in Mtpa Dec Mar S No Plants State IU/GU FY 27 2025 2027 1 Sankari Tamil Nadu IU 0.86 0.86 2 Sankarnagar Tamil Nadu IU 2.05 2.05 3 Dalavoi Tamil Nadu IU 1.85 0.40 2.25 4 Chennai Tamil Nadu GU 1.10 1.80 2.90 5 Vishnupuram Telangana IU 2.50 2.50 6 Malkapur Telangana IU 2
Slide 6: Board of Directors
Board of Directors ◼ Chartered Accountant with over 40 years experience of which 39 years is with the Aditya Birla Group K. C. Jhanwar ◼ Operations and General Management across the Cement and Chemicals Business of the Aditya Birla Group, Non-Executive Director including greenfield and brownfield ex
Slide 7: Board of Directors
Board of Directors ◼ Masters in Law from the University of Bombay and University of London and Solicitor High Court Alka Bharucha Mumbai and Supreme Court of England and Wales. Independent Director ◼ Core areas of expertise are mergers and acquisitions, joint ventures, private equity, banking and fi
Slide 8: Q3 Highlights
Q3 Highlights Achieved domestic sales volume of 2.59 MnT; grew 25% yoy. Capacity Utilization at 69%, increased by 11% yoy. Net Cement Realizations down by 2.4% qoq. Operating EBIDTA/Mt of ₹ 299, compared to ₹ 330/Mt in Q2 FY26. PAT before exceptional items at ₹ 6 Crores for the quarter. 7
Slide 9: Business Update
Business Update Sankar Nagar Cement Works, Tamil Nadu
Slide 10: Sales Performance Overview
Sales Performance Overview 75.0% 77.3% 17.4% 82.6% 25.0% 22.7% Trade % Non Trade % Bag Sales % Bulk Sales % Direct Sales Depot Sales 9
Slide 11: Key initiatives planned
Key initiatives planned Conversion of 4/5 21.8 MW of WHRS Multiple productivity, Implementation of stage preheaters to (to reduce cost of energy efficiency safety standards, 6 stage preheaters; power and increase related capex for safety practices. cooler upgradation; green power). reducing power pr
Slide 12: ESG at The India Cements
ESG at The India Cements 9MW 9MW 18MW 30MW 30MW 20MW 35MW 212MW 250MW 250MW 19% 61% 45% 9% 27% 5% 6% 2% 3% 3% FY 25 FY 26 FY27 FY 28 FY 29 FY 25 FY 26 FY 27 FY 28 FY29 Waste Heat Recovery System Renewable Power Plan to scale up Green Power (RE+WHRS) from 5% to 80% by FY29 11
Slide 13: Ongoing CSR initiatives
Ongoing CSR initiatives Chennai Cement Works Dalavoi Cement Works Reached over 2400 students through multiple Encouraged and facilitated sustainable farming education initiatives in nearby villages Sankari Cement Works Chilamkur Cement Works Enabled agricultural support for local farmers, Delivered
Slide 14: Awards
Awards Dalavoi cement works awarded first prize in the Second Prize in Overall Large Mechanized Overall ‘A’ Category Conventional Mines at Mines category at 30th MEMC 2024-25 Tamil Nadu Mines Safety Association 64th Mines for Malkapur Sangam Kalan Limestone Mines. Safety Week Celebration Sankari Cem
Slide 15: Financial Performance
Financial Performance Sankari Cement Works, Tamil Nadu
Slide 16: Realisation and Logistics Cost
Realisation and Logistics Cost 4,564 1,048 4,221 4,250 813 588 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 Domestic Grey Cement Realisation (₹/Mt) Logistics cost (₹/Mt) 6.9% decline QoQ and 0.7% increase YoY decline 28% QoQ and 44% YoY Realisation = Selling Price less GST and Discounts 15
Slide 17: Key Cost Indicators
Key Cost Indicators Logistics Fuel Power Raw Materials % of total costs 15% 24% 16% 24% ₹ / Mt 588 952 626 945 decline 28% QoQ and decline 5% QoQ and 2% increase QoQ and Flat QoQ and 44% YoY 18% YoY 24% decline YoY 6% decline YoY 16
Slide 18: Key Cost Indicators
Key Cost Indicators 1005 945 945 1,161 1,004 952 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 Raw Material cost (₹/Mt) Fuel cost (₹/Mt) 818 1,237 615 626 873 877 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 Power cost (₹/Mt) Other cost (₹/Mt) Impact of Change in Inventory (Clinker and Cement) is allocated
Slide 19: Operational Performance
Operational Performance ₹ Crores Q3FY25 Q3FY26 Particulars Standalone Consolidated Standalone Consolidated 874 874 Net Sales 1,103 1,103 28 66 Other Operating Income 11 11 11 12 Other Income 26 24 913 952 Total Income 1,140 1,138 Expenses: 201 201 Raw Materials Consumed 248 248 1 18 Purchase of Trad
Slide 20: Financial Statement
Financial Statement ₹ Crores Q3FY25 Q3FY26 Particulars Standalone Consolidated Standalone Consolidated 874 874 Net Sales 1,103 1,103 -178 -178 EBITDA 105 103 74 73 Finance Costs 30 24 55 55 Depreciation and Amortization 75 75 -88 -39 Tax expenses -2 -2 Share of Profit/(Loss) from JVs & - -15 Associa
Slide 21: Consolidated Financial Position
Consolidated Financial Position ₹ Crores Particulars Mar-25 Dec-25 Net Fixed Assets^ 11,933 11,631 Non-Current Investments 119 92 Net Working Capital -129 92 Application of funds 11,924 11,815 Shareholders Fund (Incl. Minority Interest) 10,196 10,067 Net Debt 1,135 1,164 Deferred Tax Liability 593 5
Slide 22: Cash flow statement
Cash flow statement ₹ Crores Particulars 9M FY26 EBITDA 305 Less : Interest & lease payments -76 Less : Increase in working capital -223 Operating Cash Flow 6 Less : Capex spends -130 Add : Receipts from assets held for sale 108 Less : Investments in Renewable energy -14 Free Cash Flow to Firm -30 2
Slide 23: Consolidated Annual Performance Trend
Consolidated Annual Performance Trend ₹ Crores Particulars FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17 FY16 Capacity (MTPA) 14.5 15.6 15.6 15.6 15.6 15.6 15.6 15.6 15.6 15.6 Total Cement Volume (MnT) 9.0 9.4 9.7 8.8 8.3 11.0 12.3 11.0 10.8 9.8 Net Sales 4,026 4,895 5,173 4,548 4,311 4,909 5,461 5,0
Slide 24: Consolidated Financial Position Trend
Consolidated Financial Position Trend ₹ Crores Financial Position FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17 FY16 Net Fixed Assets (Incl. Goodwill) 11,933 7,111 7,184 7,530 7,383 7,440 7,267 7,322 7,394 7,587 Investments in Subs/Associates/JVs 119 318 331 404 379 381 369 356 355 354 Net working Ca
Slide 25: Disclaimer
Disclaimer Statements in this ‘presentation’ describing the Company’s objectives, estimates, expectations or predictions may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Impor