Nuvoco Vistas posts ₹36.43 cr profit in Q2 FY26 amid product premiumisation

Nirma Group-owned cement maker reports record Q2 Ebitda of ₹371 crore and 44% share of premium products, reversing last year's loss of ₹85.17 crore

Nirma Group-promoted cement major Nuvoco Vistas Corp reported a profit of ₹36.43 crore in the second quarter of FY26 (Q2 FY26), reversing a loss of ₹85.17 crore in the same period last year. The improvement came as the share of premium products in trade volumes reached a record 44 per cent.

 

Revenue from operations stood at ₹2,457.57 crore, up 8.3 per cent year-on-year (Y-o-Y), while total expenses inched up 0.6 per cent to ₹2,410.27 crore. The company also beat Bloomberg consensus estimates of ₹2,449 crore in revenue and ₹31.77 crore in net profit.

 

Record quarterly Ebitda, debt reduction

 

 

Nuvoco Vistas reported its highest-ever second-quarter consolidated earnings before interest, taxes, depreciation and amortisation (Ebitda) at ₹371 crore. The company also reduced its like-to-like net debt (excluding debt for the acquisition of Vadraj Cement) by ₹1,009 crore YoY to ₹3,492 crore as part of its deleveraging strategy.

 

The firm’s consolidated cement sales volume stood at 4.3 million metric tonnes (MMT), up slightly from 4.2 MMT a year earlier.

 

“Despite macro headwinds like intense monsoon, GST rate adjustments and early festive celebrations, we continue to deliver improved performance supported by a sustained focus on premiumisation and trade mix,” said Jayakumar Krishnaswamy, managing director, Nuvoco Vistas Corp. “The disciplined approach enabled us to achieve our highest-ever second-quarter consolidated Ebitda.”

 

He added that refurbishment and project execution at the Vadraj Cement Plant are progressing as scheduled, enhancing the company’s market footprint in the western region.

 

Sequential trends and H1 performance

 

Sequentially, revenue fell 14 per cent, while profit dipped 72.6 per cent. For the first half of FY26, the company’s revenue rose 8.7 per cent Y-o-Y to ₹5,330.27 crore, with profit at ₹169.59 crore against a loss of ₹82.33 crore in H1 FY25.

 

Capacity expansion plans

 

Nuvoco Vistas’ cement capacity stood at 25 MMT per annum as of Q2 FY26, and the company aims to expand this to 35 MMT by FY27.

 

“The planned East expansion will strengthen our presence across eastern India and key markets such as Uttar Pradesh, Madhya Pradesh, Andhra Pradesh, Telangana, Maharashtra and the North-East, addressing the rising demand for blended products like composite and slag cement,” Krishnaswamy said.

 

He added that Nuvoco will continue to prioritise premiumisation, geo-optimisation, and cost efficiency to reinforce its competitive advantage.