India Cements swings to black in Q1, posts Rs 58.5-crore profit

In a stock filing, the India Cements also said that it will hold the annual general meeting between 17 September and 23 September. (Photo: Pixabay)

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26 Aug, 2025 12:21

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India Cements announced its FY25Q1 results on August 9. The company registered a 28.5 percent YoY decline in the revenue at Rs 1,027 crore. In the same period last year, the company had posted Rs 1,436 crore revenue.

The consolidated net profit of the major South Indian cement player stood at Rs 58.5 crore for the quarter ending June 30, 2024. It posted Rs 87-crore loss in the year-ago period. On the other hand, the company posted an EBITDA loss at Rs 24.6 crore versus EBITDA of Rs 8.3 crore year-on-year basis. The company also said that it has ‘exceptional credit’ of Rs 240.7 crore.

The company will hold its AGM in September, it said in a separate exchange filing. “Certain assets of the company having an aggregate carrying value of Rs 120.34 crores were attached by a statutory authority during 2015. The company has already appealed against the order of the said attachment and the matter is presently sub-judice. The Auditors have continued to draw an emphasis on this matter in their Report,” India Cements said.

On the Ultratech acquisition India Cements gave a detailed breakup saying “(a) The Promoters and Promoters Group of the Company have entered into Share Purchase Agreements with UltraTech Cement Limited ('Acquirer") on 28th July 2024, whereby they have agreed to sell 8,80,74,448 equity shares of Rs.10/- each, (including 1,99,54,024 equity shares of Rs.10/- each held by Ms. Rupa Gurunath, Trustee, for Financial Service Trust and Security Services Trust) constituting 28.42% of the paid-up equity share capital of the Company at a price of Rs.390/- per share.”

Last week, UltraTech Cement board had approved 32.72% acquisition of India Cements.

At 12:30 pm on August 9, India Cements shares were trading flat at Rs 368.1 apiece.