INDIACEM · Construction Materials
India Cements Ltd. reported revenue of ₹1,027 cr for April to June 2024, −28.5% on the year and −16.9% on the quarter.
Operating profit (EBITDA) was −₹25.0 cr, a margin of −2.4%, −299 bps on the year and −543 bps on the quarter. Operating costs grew −26.4%, faster than revenue at −28.5%, so operating profit grew less than sales.
The company swung to a net profit of ₹58.0 cr from a loss of ₹87.0 cr a year earlier, with earnings per share of ₹1.89.
Capital goods and EPC revenue follows project execution, which makes quarters uneven; the order book and new orders tell more about the year than one quarter does. The quarterly statements do not carry the order book, new orders and working capital; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
Half or more of pre-tax profit came from other income. What is it, and does it repeat?
Source: Quarterly statements
Turned profitable from a loss a year ago.
Source: Quarterly statements
Operating margin slipped on the year.
Source: Quarterly statements
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Finance cost rising, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,113 cr | ₹1,236 cr | ₹1,027 cr | ₹1,022 cr | ₹940 cr | ₹1,198 cr | ₹1,025 cr | ₹1,117 cr | ₹1,114 cr | ₹1,229 cr | ₹1,019 cr | ₹1,142 cr |
| YoY | — | — | −29% | −19% | −16% | −3% | −0% | +9% | +19% | +3% | −1% | +2% |
| EBITDA margin | 4.1% | 3.0% | −2.4% | −15.9% | −20.2% | −0.2% | 8.1% | 7.3% | 7.1% | 12.4% | 15.3% | 12.6% |
| Other income, % of PBT | — | — | 275% | — | 514% | — | — | 575% | — | 22% | −61% | 8% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | — | — | 23% | — | — | — | — | — | — | 13% | 25% | 26% |
| Net profit | ₹1.0 cr | −₹61.0 cr | ₹58.0 cr | −₹339 cr | ₹119 cr | ₹18.0 cr | −₹133 cr | ₹9.0 cr | −₹3.0 cr | ₹60.0 cr | ₹27.0 cr | ₹39.0 cr |
| YoY | — | — | — | — | +11,800% | — | −329% | — | −103% | +233% | — | +333% |
| Core profit YoY | — | — | — | — | — | — | — | — | — | — | — | — |
| EPS | ₹0.02 | −₹1.95 | ₹1.89 | −₹10.94 | ₹3.95 | ₹0.47 | −₹4.29 | ₹0.28 | −₹0.09 | ₹1.92 | ₹0.87 | ₹1.25 |
| Flags | · | · | 1 | 1 | 3 | 1 | 1 | 1 | 1 | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
India Cements Ltd. reported revenue of ₹1,027 cr (−28.5% on the year) and net profit of ₹58.0 cr (— on the year) for April to June 2024.
1 check raised a question: Half or more of pre-tax profit came from other income. What is it, and does it repeat?
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