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Nuvoco Vistas Corp revenue increased by 8.9% YoY

ICICIdirect Research 14 Jul 2026 DISCLAIMER

News: Nuvoco Vistas Corp revenue increased by 8.9% YoY (-5.4% QoQ) to Rs 3128.7 crore, led by 3.9% YoY (-11.7% QoQ) volume growth (to 5.3 mtpa) and 4.8% YoY (+7.1% QoQ) improvement in realization. Capacity utilization stood at ~85% for Q1FY27. Total cost/ton increased by 4.7% YoY (+6.6% QoQ). EBITDA/ton stood at Rs 1072/ton (+5.4% YoY, +9.5% QoQ). Subsequently, EBITDA came at Rs 568.2 crore (+9.6% YoY, -3.3% QoQ). On PAT level, the company reported profit of Rs 159.6 crore (+19.9% YoY, +13.4% QoQ)

View: Operational performance during the quarter was better than expectations led by improvement in realisation on YoY basis as cement prices improved during the quarter. With recent commissioning of 2 mtpa at Gujarat (ahead of scheduled time), company's volume growth visibility remains healthy, supported by healthy demand environment, improvement in utilisation levels and ongoing expansion plans. Total cement capacity is expected to increase from 27 mtpa to 35 mtpa by FY28E, led by refurbishment of Vadraj capacity (expected in phases over Q3FY27 to Q1FY28) and de-bottlenecking initiatives in East India capacities (to be completed in phases till FY27E end). Operational performance might remain subdued in FY27E due to cost concerns because of ongoing geo-political uncertainties, but long-term outlook remains intact led by focus on cost optimization and increase in premiumization

Impact: Positive

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