India Cements FY26 Profit ₹65 Cr; Board OKs Results

India Cements Ltd reported a sharp turnaround in FY26, posting an audited net profit of ₹65.32 crore for the year ended March 31, 2026, against a net loss of ₹655.65 crore in FY25. The company said its Board of Directors approved both standalone and consolidated audited financial results at a meeting held on April 25, 2026. The result marks a swing back to profitability after a loss-making FY25, alongside growth in revenue and total income.

The FY26 outcome also reflects a year in which costs moderated, finance costs reduced materially, and the company completed the amalgamation of four wholly owned subsidiaries. In addition, India Cements reported exceptional items in both the quarter and the full year, while auditors issued an unmodified opinion on the financial results.

Board approval and audited outcome for FY26

India Cements stated that the audited results for FY26 were approved by the Board on April 25, 2026. The company reported FY26 revenue from operations of ₹4,484.69 crore, up from ₹4,080.39 crore in FY25. Total income rose to ₹4,580.97 crore from ₹4,125.26 crore over the same period.

Net profit for FY26 came in at ₹65.32 crore compared with a net loss of ₹655.65 crore in FY25, reflecting a full-year turnaround. Earnings per share (basic) improved to ₹2.11 from a loss per share of ₹21.16 in FY25. The company also disclosed that the auditors issued an unmodified opinion on the financial results.

FY26 vs FY25: key numbers at a glance

The movement across profit and EPS indicates that the FY26 improvement was not limited to a single line item. Alongside higher revenue, the company reported lower overall expenses and a significant reduction in finance costs, which typically have a direct bearing on net profit for cement makers with leveraged balance sheets.

Q4 FY26: quarterly turnaround led by profit swing

In Q4 FY26, India Cements reported net profit of ₹54.75 crore versus a net loss of ₹63.75 crore in Q4 FY25. Revenue from operations rose to ₹1,228.65 crore from ₹1,197.57 crore, while total income increased to ₹1,258.80 crore from ₹1,222.97 crore. Earnings per share (basic) improved to ₹1.77 from a loss per share of ₹2.06.

The company described the quarter as a strong end to the year, with profitability improving sharply year-on-year. The disclosed numbers show that, even with a modest rise in quarterly revenue, the swing in profit was substantial. That pattern typically points to a combination of cost actions, finance cost changes, and below-the-line movements such as exceptional items.

Costs and expenses: FY26 shows lower spending base

Total expenses for FY26 were reported at ₹4,485.19 crore, down from ₹4,961.85 crore in FY25. The company highlighted key expense components for FY26, including power and fuel costs of ₹1,626.66 crore, freight and forwarding expenses of ₹584.90 crore, and employee benefits expense of ₹242.18 crore.

A notable driver was the decline in finance costs to ₹99.33 crore in FY26 from ₹267.17 crore in FY25. For cement companies, finance costs can materially influence net profitability when operating margins are under pressure. The reported reduction suggests a lighter interest burden compared to the prior year.

Balance sheet snapshot as of March 31, 2026

India Cements reported total assets of ₹13,305.28 crore as of March 31, 2026. Equity share capital stood at ₹309.90 crore and other equity was ₹9,717.09 crore. On borrowings, non-current borrowings decreased to ₹973.83 crore from ₹1,066.36 crore in the previous year.

At the same time, current borrowings increased to ₹326.94 crore from ₹92.75 crore. The split indicates a reduction in longer-term borrowings alongside a rise in shorter-tenor borrowings, as per the reported year-end positions. The company did not provide additional reasons for the shift in the summary.

Amalgamation of four subsidiaries and restated financials

During the year, the Board approved the amalgamation of four wholly owned Indian subsidiaries with the company. These were ICL Securities Ltd, ICL Financial Services Ltd, ICL International Ltd, and India Cements Infrastructures Ltd. The National Company Law Tribunal sanctioned the scheme and it became effective from March 28, 2026.

India Cements stated that the financial results have been restated from January 1, 2025, to reflect the impact of the amalgamation. Such restatement is relevant for comparability because it changes how the merged entities’ financials are reflected across periods. The company’s update did not quantify the standalone impact of the amalgamation in the summary, but it confirmed the effective date and the restatement timeline.

Exceptional items and statutory impact disclosed

India Cements reported exceptional items of ₹20.49 crore for the quarter and ₹28.21 crore for the year. It also disclosed impairment losses and a statutory impact linked to new Labour Codes amounting to ₹7.72 crore.

Exceptional items can affect comparability of quarterly and annual performance, especially when they include impairment charges or one-time statutory adjustments. The company’s audited disclosure included these items and noted that the auditors issued an unmodified opinion.

Market view: recent stock-return snapshot provided

The article data also carried a snapshot of historical stock returns for India Cements: 1-day return of -3.87%, 5-day return of -0.95%, 1-month return of +16.67%, 6-month return of +4.14%, 1-year return of +41.46%, and 5-year return of +144.86%. These figures reflect market performance over different time windows and were presented alongside the financial update.

UltraTech Cement earnings call: schedule and access details

Separately, India Cements notified stock exchanges about an earnings call by its holding company, UltraTech Cement Ltd, relating to Q4 FY26 and annual financial results. The call was scheduled for Monday, April 27, 2026, at 5:00 PM IST, and was described as a management discussion followed by a Q&A session.

For access, the notification listed universal numbers +91 22 6280 1286 and +91 22 7115 8187, and toll-free lines for the USA (18667462133), UK (08081011573), Singapore (8001012045), and Hong Kong (800964448). The company said the disclosure was made under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements Regulations, 2015, and that details would be available on UltraTech’s website.

Why this FY26 print matters for tracking performance

The FY26 result brings together several measurable changes: a return to net profit, higher revenue and total income, lower total expenses year-on-year, and a sharp fall in finance costs. The balance sheet data also shows reduced non-current borrowings but higher current borrowings at year-end, which investors typically monitor for refinancing and liquidity considerations.

Alongside operating and financial line items, corporate actions such as the amalgamation of wholly owned subsidiaries and restatement from January 1, 2025, are central to interpreting year-on-year comparisons. With audited numbers now approved, the next set of management commentary would typically come through scheduled forums such as earnings calls and exchange filings, including the UltraTech call disclosed for April 27, 2026.

Conclusion

India Cements closed FY26 with an audited net profit of ₹65.32 crore, reversing a FY25 loss of ₹655.65 crore, on higher income, lower expenses, and reduced finance costs. The company also completed a subsidiary amalgamation effective March 28, 2026, and disclosed exceptional items and statutory impacts in its audited results. The upcoming UltraTech Cement earnings call on April 27, 2026, is slated to cover Q4 FY26 and annual performance, with a management discussion and Q&A format.