Nuvoco Vista Corporation Ltd (NVCL), is one of the largest cement companies and concrete manufacturers in India with a consolidated capacity of 25 MMTPA. It offers a diversified range of products such as cement, Ready-mix Concrete (RMX), and modern building materials i.e. adhesives, wall putty, dry plaster, cover blocks, and more. Presenting below are its Q2 FY26 earnings results.
Q2 FY26 Earnings Results
-
Revenue from operations: ₹2,457.57 crore, up 8.3% YoY from ₹2,268.58 crore in Q2 FY25.
-
Net profit (PAT): ₹36.43 crore, compared to a loss of ₹85.17 crore in Q2 FY25.
-
EBITDA: ₹371 crore, all-time high for Q2; EBITDA margin at 15%, driven by better trade mix and cost control.
-
Cement sales volume: 4.3 MMT, slightly up from 4.2 MMT YoY.
-
Premium product sales: Record 44% share in trade volumes, highest ever.
-
Net debt (ex. Vadraj acquisition): Reduced by ₹1,009 crore YoY to ₹3,492 crore, part of ongoing deleveraging.
-
Expenses: ₹2,410.27 crore, marginal YoY rise.
-
Ready Mix Concrete and value-added products: Up 8.9% YoY.
-
Sustainability: Industry-leading lowest carbon emissions at 453.8 kg CO2/ton cementitious material.
Management Commentary & Strategic Decisions
-
MD Jayakumar Krishnaswamy cited premiumisation, trade mix optimization, and disciplined cost controls as key drivers for the profit turnaround and record EBITDA, despite challenging monsoon and GST-related distribution issues.
-
Refurbishment of Vadraj Cement Plant is underway, with operationalisation targeted by Q3 FY27, supporting expansion to 35 MMTPA capacity by FY27.
-
The company maintains an expansion strategy in eastern India (4 MMTPA) and is focused on premium portfolio growth for sustainable higher realizations.
-
Continued deleveraging was re-emphasized, with over ₹1,009 crore in net debt reduction YoY (excluding acquisition debt).
-
Commitment to sustainability remained central, reflected in leading carbon emissions reduction among Indian cement majors.
Q1 FY26 Earnings Results
-
Revenue from operations: ₹2,872.7 crore, up 8.95–9% YoY from ₹2,635 crore in Q1 FY25.
-
Net profit (PAT): ₹133.16 crore, up sharply from ₹2.84 crore in Q1 FY25, driven by premiumisation and trade sales.
-
EBITDA: ₹533 crore, up 53% YoY; highest ever for Q1.
-
Cement sales volume: 5.1 MMT, up 6% YoY.
-
Premium products: Accounted for 41% of trade volume, highest in 13 quarters.
-
Net debt (like-for-like): Rs 3,474 crore, reduced by ₹884 crore YoY.
-
Acquisition: Vadraj Cement acquisition completed, cement capacity to expand to approx. 31 MMTPA by Q3 FY27.
-
Sustainability: Carbon emissions lowered to 453.8 kg/ton cementitious materials.
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.