The India Cements quarterly results and financials

The India Cements (INDIACEM)₹341.40−1.53%(9 Nov 2026 close)Cement & Cement Products

Key facts

In the Sep 2026 quarter (consolidated), The India Cements reported sales of ₹1,141 Cr, up 2.2% from Sep 2025, and net profit of ₹39.04 Cr, up 334.3% year on year. For the year to Mar 2026, sales were ₹4,486 Cr and net profit −₹66.97 Cr.

Sales (Sep 2026): ₹1,141 Cr
Net profit (Sep 2026): ₹39.04 Cr
Sales (FY Mar 2026): ₹4,486 Cr
Net profit (FY Mar 2026): −₹66.97 Cr
EPS (Sep 2026): ₹1.26
Borrowings (Mar 2026): ₹1,301 Cr

Company filings, consolidated accounts; latest reported quarter Sep 2026

The India Cements quarterly results

₹ crore unless stated; each column is a quarter.

The India Cements Quarterly results
	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Sales	1,113	1,235	1,027	1,021	939	1,198	1,025	1,116	1,114	1,229	1,018	1,141
Expenses	1,070	1,201	1,053	1,187	1,132	1,202	944	1,039	1,037	1,078	866	1,000
Operating Profit	45.99	37.02	−24.98	−163	−190	−1.99	82.97	80.94	78.95	153	156	144
OPM %	4.2%	3.0%	−2.4%	−16.1%	−20.1%	−0.2%	8.0%	7.0%	7.0%	11.9%	14.9%	12.9%
Other Income	55.93	33.94	256	−63.98	395	110	−115	22.98	14.99	14.99	−21.99	3.99
Interest	58.97	63.94	81.90	72.96	72.98	37.99	26.98	24.97	24.01	22.99	26.01	24.01
Depreciation	57.04	56.99	55.95	55.04	55.04	75.05	74.02	73.98	74.98	76.01	72.01	72.01
Profit before tax	−13.98	−48.95	92.94	−355	76.89	−4.99	−132	3.99	−4.99	68.97	35.98	51.98
Tax %	−53.1%	2.0%	23.0%	−5.0%	−51.0%	−486.1%	−1.0%	−101.1%	−41.1%	13.0%	24.9%	25.9%
Exceptional items	27.98	12.01	219	−212	335	83.03	−122	−5.99	−7.99	−9.01	−18.99	0.00
Net Profit	0.99	−61.06	58.01	−339	119	18.01	−133	8.99	−2.99	59.97	26.99	39.04
EPS (Rs)	0.01	−1.96	1.90	−10.95	3.94	0.48	−4.30	0.29	−0.08	1.93	0.88	1.26

The India Cements profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

The India Cements Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	4,875	5,157	5,263	5,765	5,180	4,510	4,853	5,609	4,994	4,140	4,486	4,503
Expenses	4,013	4,273	4,555	5,146	4,601	3,723	4,379	5,764	4,922	4,498	4,099	3,981
Operating Profit	873	891	719	639	599	796	486	−141	86.05	−350	395	532
OPM %	17.9%	17.0%	13.9%	11.0%	12.0%	18.0%	10.0%	−2.5%	1.7%	−8.0%	8.9%	11.8%
Other Income	20.96	16.99	13.98	25.97	23.97	31.95	22.96	224	98.82	653	−61.95	11.98
Interest	440	380	365	350	343	271	198	242	240	266	98.95	97.02
Depreciation	291	276	279	265	256	247	226	219	220	239	299	295
Profit before tax	164	252	89.92	49.99	23.99	311	84.96	−378	−275	−202	−64.98	152
Tax %	29.0%	36.9%	20.9%	48.9%	−126.0%	32.9%	22.9%	−55.0%	−17.0%	−29.1%	3.0%	—
Exceptional items	−1.99	0.99	−4.99	−2.99	−10.01	−5.01	0.00	195	46.02	689	−105	−35.99
Net Profit	119	159	68.99	26.02	51.02	209	87.06	−125	−227	−144	−66.97	123
EPS (Rs)	3.81	5.42	2.12	0.69	1.63	6.66	2.52	−4.10	−7.35	−4.65	−2.18	3.99
Dividend payout %	26.0%	19.0%	38.0%	118.0%	36.9%	14.9%	40.0%	0.0%	0.0%	0.0%	0.0%	—

The India Cements balance sheet

₹ crore, at each year end.

The India Cements Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	306	307	308	307	309	309	310	309	309	309	309	309
Reserves	3,065	4,729	4,857	4,946	4,923	5,172	5,377	5,622	5,449	5,249	9,864	9,791
Borrowings	3,492	3,286	3,094	3,186	3,346	3,580	3,044	3,082	2,936	2,625	1,162	1,301
Other Liabilities	1,796	2,334	2,661	2,467	2,683	2,567	2,329	2,991	2,733	2,481	2,506	1,965
Total Liabilities	8,659	10,658	10,921	10,907	11,260	11,628	11,060	12,004	11,427	10,664	13,842	13,366
Fixed Assets	4,585	7,468	7,244	7,121	7,052	7,181	7,049	7,083	6,779	6,853	11,609	11,157
CWIP	97.83	98.88	134	176	196	235	300	386	313	190	177	343
Investments	438	355	357	356	370	381	380	406	332	318	119	82.71
Other Assets	3,538	2,736	3,187	3,253	3,644	3,831	3,332	4,128	4,002	3,304	1,936	1,782
Inventories	675	625	773	694	846	841	596	843	784	630	555	733
Trade receivables	518	561	524	646	748	738	565	934	828	701	708	249
Cash & equivalents	6.99	35.96	37.95	53.91	48.90	42.91	39.94	45.91	64.85	83.88	123	60.89
Total Assets	8,659	10,658	10,921	10,907	11,260	11,628	11,060	12,004	11,427	10,664	13,842	13,366

The India Cements cash flow

₹ crore, for each year.

The India Cements Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	643	961	764	555	376	386	1,044	438	−18.95	343	−256	−26.95
Cash from investing activity	−124	−221	−158	−307	−202	−283	−190	−251	436	249	2,019	−103
Cash from financing activity	−521	−759	−607	−236	−181	−110	−862	−183	−398	−573	−1,743	40.11
Net cash flow	0.99	−13.97	1.99	15.96	−4.99	−5.99	−2.99	5.98	18.97	18.96	18.96	−88.85
Capex	257	167	79.67	202	303	249	164	167	57.82	126	61.83	222
Free cash flow	508	798	687	362	162	140	900	289	143	256	31.09	−115
CFO / OP %	89.9%	111.9%	93.9%	83.9%	60.9%	69.9%	137.9%	99.9%	8.0%	421.9%	42.9%	−5.0%

The India Cements ratios

Working-capital days and returns, by year.

The India Cements Ratios
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	37	42	37	45	47	52	46	70	54	51	62	20
Inventory days	287	267	306	258	287	312	270	368	258	231	224	269
Days payable	403	448	523	442	459	491	489	566	439	457	396	319
Cash conversion cycle	−77	−137	−177	−137	−123	−126	−172	−126	−125	−173	−108	−27
Working capital days	−41	−84	−37	−3	−14	−38	−56	−18	35	−10	−32	−15
ROCE %	7.0%	8.0%	8.0%	5.0%	5.0%	4.0%	7.0%	3.0%	−4.0%	−1.0%	−5.0%	1.0%

The India Cements: frequently asked questions

What are the latest quarterly results of The India Cements?

For the Sep 2026 quarter, The India Cements reported sales of ₹1,141 Cr, up 2.2% year on year and net profit of ₹39.04 Cr, up 334.3% year on year. The operating margin was 12.9%.

What is the annual revenue of The India Cements?

The India Cements' sales for the year to Mar 2026 were ₹4,486 Cr; over the last twelve months they were ₹4,503 Cr.

What is the net profit of The India Cements?

Net profit for the year to Mar 2026 was −₹66.97 Cr, and ₹123 Cr over the last twelve months. Earnings per share over the same trailing period were ₹3.99.

How much debt does The India Cements have?

The India Cements reported borrowings of ₹1,301 Cr at Mar 2026, against cash and equivalents of ₹60.89 Cr.

What is the free cash flow of The India Cements?

Cash from operations was −₹26.95 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹115 Cr.

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