Nuvoco Vistas (NUVOCO) investor relations material

Executive summary

• Achieved record Q1 volumes of 5.3 million tonnes, up 5% YoY, and highest-ever Q1 EBITDA at INR 572 crore, up 7% YoY, despite geopolitical and logistical challenges.

• Surat grinding unit (2 MTPA) inaugurated ahead of schedule, marking first western region expansion; Kutch clinker and grinding units progressing on track for phased commissioning from Q3 FY 2027.

• Ongoing expansion projects to increase total cement capacity to 35 MMTPA, including Vadraj and East region upgrades.

• Unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, were approved by the Board and reviewed by statutory auditors, with no material misstatements identified.

• Strong execution on cost discipline and operational efficiencies, with fuel cost contained at INR 1.52 per MMBtu within guided range.

Financial highlights

• Q1 FY 2027 volume grew 5% YoY to 5.3 million tonnes; EBITDA rose 7% YoY to INR 572 crore.

• Q1 FY27 revenue rose 9% year-over-year to ₹3,307 crore; consolidated revenue from operations was ₹3,128.71 crore, up from ₹2,872.70 crore YoY.

• Consolidated profit after tax was ₹159.63 crore, compared to ₹133.16 crore in the same quarter last year.

• Realization improved by INR 320 per tonne QoQ, driven by price hikes, geo mix, and premium product sales.

• Net debt reduced to INR 4,595 crore from INR 5,274 crore YoY, a reduction of INR 600 crore.

Outlook and guidance

• CapEx guidance maintained at INR 900 crore for FY 2027 and INR 950–1,000 crore for FY 2028.

• Market demand expected to grow 7–8% in coming quarters; incremental volume growth targeted in Gujarat.

• Cement demand expected to pick up post-monsoon, supported by higher planned government capex and resilient rural/urban demand.

• Price hikes anticipated to offset rising costs from geopolitical developments.

• Management remains confident of ultimate recovery of incentive claims under dispute, supported by legal counsel.