The Ramco Cements (RAMCOCEM) Q2 26/27 earnings summary

Executive summary

• 2QFY27 cement sales volume rose 9% YoY and 7% QoQ despite monsoon disruption; average cement prices increased 2% YoY and 1% QoQ.

• 1HFY27 sales volume reached 9.56 MnT, up 10% YoY, while average cement prices were flat YoY.

• Q2 FY27 consolidated revenue from operations was ₹2,462.75 crore and net profit was ₹40.46 crore; consolidated EPS was ₹1.71.

Financial highlights

• Standalone 2QFY27 revenue was ₹2,465.84 crore, up 10% YoY; EBITDA was ₹330.54 crore, down 16%, and PAT was ₹38.18 crore, down 49%.

• Standalone 1HFY27 revenue was ₹4,742.02 crore, up 10% YoY; EBITDA was ₹644.92 crore, down 19%, and PAT was ₹70.04 crore, down 56%.

• H1 FY27 consolidated revenue was ₹4,735.80 crore and net profit was ₹71.70 crore; standalone revenue was ₹4,727.25 crore and net profit was ₹70.04 crore.

• Q2 consolidated net profit attributable to equity shareholders was ₹40.43 crore versus ₹77.34 crore; EPS was ₹1.71 versus ₹3.27.

• Construction chemicals revenue rose 50% YoY to ₹130.77 crore in 2QFY27 and 31% to ₹216.88 crore in 1HFY27.

Outlook and guidance

• Cement capacity stood at 27.17 MTPA after Jayanthipuram debottlenecking; target is ~31 MTPA by Mar-27 after commissioning Kolimigundla Line 2.

• Kolimigundla’s 3.15 MTPA clinker line is expected to commission ahead of schedule by Dec-26; its 15 MW WHRS is planned alongside Line 2.

• FY27 capex is estimated at ₹800 crore; a 1.2 lakh-tonne p.a. construction chemicals plant at Kolimigundla is planned for completion by 2QFY28 at a cost of ₹20 crore.