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The India Cements share price & results

The India Cements Limited· Construction Materials· Commodities

Results to
Sept 2026
Latest analysed call
Q1 FY27
Ownership as of
Sept 2026

South India cement maker with 9 plants (14.75 MTPA capacity); now a subsidiary of UltraTech Cement.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue1,142 ₹ crore+2.2% YoYQuarterly, as filedQuarter to Sept 2026Revenue from operations as filed.
Operating margin13.0 %+6.0 pts YoYOperating profit / revenueQuarter to Sept 2026For the quarter; a change is in percentage points.
Net profit39.0 ₹ crore+333.3% YoYQuarterly, as filedQuarter to Sept 2026Profit after tax as filed.
Return on equity1.56 %+10.9 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin-2.56 %−3.3 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)5.23 %+25.5 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Sept 2026

Guidance

What management said, and what became of it

1 of 3 judged targets kept · 8 open · verdicts reflect calls analysed to Q1 FY27.

The India Cements Limited management guidance track record on Inve: 11 targets tracked across analysed earnings calls (1 achieved, 2 missed, 8 open).

TargetOriginal wordingSaidLatest callVerdict
India Cements Brand Transition Completionconclude the brand transition program before the end of fiscal '27
Call transcript, Q1 FY26 · 21 Jul 2025		Q1 FY26Q1 FY27:Management confirmed brand migration is 100% complete, reinforcing the achieved status.
Call transcript, Q1 FY27 · 20 Jul 2026		Achieved
UltraTech Net Debt/EBITDA0.8, 0.9x net debt EBITDA by the end of this fiscal year
Call transcript, Q3 FY26 · 24 Jan 2026		Q3 FY26Q1 FY27:Data revealed the starting figure for FY27 (i.e., end of FY26) was 0.94x, missing the target range of 0.8-0.9x.
Call transcript, Q1 FY27 · 20 Jul 2026		Missed
India Cements Non-core Asset Salesup to INR500 crores minimum
Call transcript, Q3 FY26 · 24 Jan 2026		Q3 FY26Q1 FY27:Management addressed the topic, linking the disposal of non-core land assets to the overall integration completion timeline of Q4 FY28.
Call transcript, Q1 FY27 · 20 Jul 2026		Delayed

Source: Inve Guidance Tracker for The India Cements Limited · to Q1 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

2 of The India Cements Limited's 11 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 8 more targets are in the full ledger.

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Price

₹308.85 +0.93% · +₹2.85

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −20.9% 1Y

₹300₹350₹400₹450Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 24 Oct 2025Q3 FY26 — 23 Jan 2026Q4 FY26 — 27 Apr 2026Q1 FY27 — 20 Jul 2026

1Y: ₹390.3 on 24 Oct 2025 → ₹308.85. High ₹478.55 (16 Jan 2026), low ₹294.35 (19 Oct 2026).

Previous close
₹306
Market cap
₹9.5k Cr
52-week range
₹294.35 – ₹478.55
One year
−20.13%
Price to earnings (TTM to Sept 2026)
59.64×
Return on equity (TTM to Sept 2026)
1.56%

Overview

Symbol
NSE:INDIACEM
Industry
Commodities
Exchange
NSE
Currency
INR

What The India Cements Limited does

Based on the company's own presentations, annual report and earnings calls.

The India Cements Limited manufactures and sells grey cement and clinker from a network of integrated cement plants and a grinding unit across Tamil Nadu, Telangana, Andhra Pradesh and Rajasthan, and also operates Ready Mix Concrete (RMC) units in Tamil Nadu, Karnataka and Telangana. It earns revenue by producing and selling cement to trade, institutional and bulk buyers through a mix of direct and depot-based distribution. The company became a subsidiary of UltraTech Cement Limited in December 2024, and its cement volumes are progressively being rebranded to the UltraTech brand. Raw material security is anchored by captive limestone mining licences valid through 2030 to 2050.

Segments

  • Cement
  • Ready Mix Concrete (RMC)
Installed cement capacity
14.75 MTPA
Cement plants
9 (8 integrated units and 1 grinding unit)
Plant footprint
Tamil Nadu, Telangana, Andhra Pradesh and Rajasthan
RMC unit footprint
Tamil Nadu, Karnataka and Telangana
Limestone mining licences
Valid through 2030 to 2050
Subsidiaries
9
Founded 1946Headquarters Chennai, Tamil Nadu, India

How the price took the results

close before → close after

Q1 FY27
−4.3%
20 Jul
Q4 FY26
+6.7%
27 Apr
Q3 FY26
+5.2%
24 Jan

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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