Top Indian cement firms to post strong Q2 FY26 earnings amid higher volumes

Y-o-Y Ebitda per tonne rises sharply on better pricing and volume growth, while seasonal monsoon and GST cut temper quarterly gains across major cement firms

Top Indian cement firms are expected to report a strong earnings growth for the second quarter of the financial year 2025-26 (Q2FY26) on a year-on-year (Y-o-Y) basis, amid improved realisations, prices, and steady volume growth, but on a low base.

 

On a Y-o-Y basis, earnings before interest, taxes, depreciation, and amortisation (Ebitda) per tonne are expected to record a sharp increase of 40-70 per cent, due to improved volumes and pricing – which grew by about 5 per cent Y-o-Y to ₹350-₹365 per bag, eventually resulting in better realisations (up 3-5 per cent), according to brokerage reports.

 

 However, on a