Shares of India Cements closed at ₹302.50 on the BSE, up 1.78% ahead of the earnings release, reflecting investor optimism over a 440% jump in Q2 net profit to ₹38.8 crore.
Revenue from operations ticked up 2.2% YoY to ₹1,142 crore, a modest rise compared with the prior quarter’s ₹1,117 crore, yet the real value comes from margin expansion: EBITDA climbed 78% to ₹145 crore, pushing the margin to 12.7% from 7.3% a year earlier.
The surge is largely attributed to improved operational efficiencies and a 2.8 million‑tonne per annum capacity expansion plan, backed by a ₹2,000 crore investment approval. Roughly ₹1,728 crore has already been committed as of September 2026, with the remaining earmarked for renewable energy and waste‑heat recovery to curb power costs.
Looking ahead, India Cements projects further up‑gradations across its plants through Q3 and Q4, and will file its Q3 results in November. Analysts are watching the company’s ability to sustain the 12.7% EBITDA margin and the execution pace of the ₹2,000 crore capex plan as key drivers for future valuation.