INDIACEM · Construction Materials
India Cements Ltd. reported revenue of ₹1,022 cr for July to September 2024, −19.1% on the year and −0.5% on the quarter.
Operating profit (EBITDA) was −₹163 cr, a margin of −15.9%, −1,627 bps on the year and −1,351 bps on the quarter. It is the narrowest margin of the last 6 quarters (range −15.9% to 4.1%). Operating costs grew −6.0%, faster than revenue at −19.1%, so operating profit grew less than sales.
The net loss was ₹339 cr, with earnings per share of −₹10.94.
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 filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
Operating margin fell sharply on the year. Pricing, input costs, or mix?
Source: Quarterly statements
Could not run on this quarter: Headline vs core profit, Other income carrying 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.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| 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 ₹1,022 cr (−19.1% on the year) and net profit of −₹339 cr (— on the year) for July to September 2024.
1 check raised a question: Operating margin fell sharply on the year. Pricing, input costs, or mix?
No. FinMinutes reports what was filed and the questions the numbers raise. It does not recommend buying, selling or holding any security.
Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.