The cement company reported a net loss of Rs 207 crore in the second quarter of the current financial year (Q2 FY27) today (October 26), as against a net profit of Rs 236 crore recorded in the same period a year ago.
Its revenue from operations surged by 4.3 per cent year-over-year (YoY) to Rs 3,563 crore in Q2FY27, compared with Rs 3,417 crore posted in Q2FY26, which came below the estimate of Rs 3,681 crore.
The company’s net loss was driven mainly by Rs 339 crore of exceptional charges. Without them, the company would have reported a profit before tax of about Rs 46 crore.
The larger part, Rs 282 crore, was a non-cash impairment on three captive power plants, whose value has fallen as cheaper renewable energy takes a growing share of the power mix, and on a brand the company is discontinuing.
The remaining Rs 57 crore was a one-time cost of a voluntary separation scheme for eligible employees at a few units.
“During the quarter ended September 30, 2026, the Company implemented a separation scheme for eligible employees at a few units resulting in a one-time charge of Rs 57 crore,” read the company’s financial statements.
On the operating front, the company’s Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) advanced to Rs 493 crore in Q2FY27, up 29.2 per cent YoY from Rs 696 crore in the corresponding period a year back. Its revenue came below the estimate of Rs 586 crore.
The company’s EBITDA per tonne fell to Rs 698 in the second quarter of the current financial year as against Rs 1,013 in Q2FY26.
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