Ramco Cements reported a 19 per cent YoY increase in net profit to INR3.87bn (US$42.75m) for 3QFY26, compared with INR3.25bn in the corresponding period last year. Revenue from operations rose 6.2 per cent YoY to INR21.05bn.
EBITDA remained broadly flat at INR2.79bn, while operating margin declined to 13.3 per cent from 14 per cent a year earlier, reflecting weaker pricing and higher costs. Average cement prices fell six per cent quarter-on-quarter, sharper than earlier expectations, with trade cement prices declining by eight per cent in southern India and nine per cent in the eastern region compared with September 2025 exit levels.
Cost pressures increased during the quarter, including a INR1600 per tonne mineral-bearing land tax on limestone in Tamil Nadu, which had an estimated impact of around INR470m. Power and fuel costs rose by INR27 per tonne YoY and INR59 per tonne sequentially due to higher fuel prices, although a higher share of green power, at around 47 per cent, partly offset the increase.
Capital expenditure during the 9MFY26 totalled INR8.23bn, including INR2.22bn in the December quarter. Full-year capex is now expected at INR11bn, revised down from INR12bn. Installed cement capacity currently stands at 27.44Mta and is projected to reach 31.14Mta by March 2027 through debottlenecking and brownfield expansion, including a second line at Kolimigundla and 15MW of waste heat recovery capacity.
