Orient Cement Limited (NSE: ORIENTCEM) shares traded at ₹342.50 during intraday sessions on Friday, marking a 2.4% increase from the previous close. The stock has maintained a 52-week range between ₹195.00 and ₹360.00, reflecting a steady upward trend as the company moves toward consolidation within the Adani Cement platform.
Quarterly Financial Overview
For the third quarter ended December 31, 2025 (Q3 FY26), Orient Cement’s operational performance was integrated into the broader Adani Cement results following its acquisition in April 2025. The consolidated cement volume for the platform, which now includes Orient Cement, reached 18.9 million tonnes (MnT), representing a 17% year-over-year increase.
Revenue: Consolidated revenue from operations stood at ₹10,277 crore, a 9% growth compared to ₹9,411 crore in the same period last year.
EBITDA: The normalized EBITDA for the quarter was reported at ₹1,353 crore.
Margins: EBITDA per tonne (PMT) was recorded at ₹718.
Year-to-Date and Full-Year Context
For the nine months ended December 31, 2025 (9M FY26), the consolidated entity reported a 19% volume growth to 53.8 MnT. Total revenue for the nine-month period rose 17% to ₹29,740 crore. The company remains debt-free with a net worth of ₹69,854 crore and maintains a “AAA” credit rating from CRISIL and CARE.
Merger and Capacity Updates
The Board of Directors approved the amalgamation of Orient Cement Limited with Ambuja Cements Limited on December 22, 2025. The merger scheme has been filed with stock exchanges and is currently awaiting a No-Objection Certificate (NOC) from SEBI. The transaction is expected to be completed during FY27. Total cement capacity for the unified platform reached 109 MTPA during the quarter. Management reiterated a target of 155 MTPA capacity and an EBITDA of ₹1,500 PMT by March 2028.
Analyst Sentiment
There were no immediate analyst upgrades or price-target changes reported following the Q3 earnings call. The company continues to focus on its “One Cement Platform” strategy to drive cost leadership and operational synergies.