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Nuvoco Vistas Corporation Results: Latest Quarterly Results & Analysis

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Nuvoco Vistas Corporation Ltd. 15 Oct 2025 14:14 PM
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Q2FY26 Quarterly Result Announced for Nuvoco Vistas Corporation Ltd.

Cement & Cement Products company Nuvoco Vistas Corporation announced Q2FY26 results

  • The Company achieved a consolidated cement sales volume of 4.3 MMT in Q2FY26. Consolidated revenue from operations grew 8% YoY to Rs 2,458 crore. in Q2FY26.
  • Consolidated revenue from operations grew 8% YoY to Rs 2,458 crore. in Q2FY26.
  • consolidated EBITDA of Rs 371 crore. in Q2FY26.
  • Company remained committed to its deleveraging agenda, reducing like-to-like¹ net debt by Rs 1,009 crore. YoY to Rs 3,492 crore.

Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp, said: “Despite the macro headwinds like intense monsoon, channel adjustments to GST rate cuts and early festive celebrations, the Company continues to deliver improved performance, supported by a sustained focus on premiumisation and trade mix. The disciplined approach enabled the Company to achieve its highest-ever second-quarter consolidated EBITDA. Looking ahead, we remain confident in our structural growth trajectory. Refurbishment and project execution at the Vadraj Cement Plant are progressing as scheduled, which will enhance our market footprint in the Western region.”

“The planned East expansion is set to further strengthen our presence in the East as well as in the markets of Uttar Pradesh, Madhya Pradesh, Andhra Pradesh, Telangana, Maharashtra and North-East, addressing the rising demand for blended products such as composite and slag cement. Together with these initiatives, we will continue to prioritise premiumisation, geo-optimisation, and cost efficiency to further reinforce our competitive advantage.”

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Cement & Cement Products company Nuvoco Vistas Corporation announced Q1FY26 results

  • Consolidated cement sales volume of 5.1 MMT in Q1FY26.
  • Consolidated revenue from operations grew 9% YoY to Rs 2,873 crore in Q1FY26.
  • Consolidated EBITDA of Rs 533 crore in Q1FY26.
  • Company remained committed to its deleveraging agenda, reducing like-for-like net debt by Rs 884 crore YoY to Rs 3,474 crore

Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp., said: “The Company witnessed healthy volume growth during the quarter. It maintained a sharp focus on premiumisation and trade mix, which contributed to enhanced realizations and led to the highest-ever first-quarter consolidated EBITDA in the Company’s history. Looking ahead, we remain committed to drive sustained growth and expand our market presence. Following the successful acquisition of Vadraj Cement, the Company is fully geared up to operationalize the plants at Kutch and Surat by Q3 FY27 and at the same time expanding its market footprint in the Western region. Alongside this, the Company will continue to prioritize initiatives around premiumisation, geo-optimisation, and cost efficiency to further strengthen its competitive edge.”

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Cement & Cement Products company Nuvoco Vistas Corporation announced Q4FY25 results

  • Total Income: Rs 3,047 crore compared to Rs 2,941 crore during Q4FY24.
  • EBITDA: Rs 556 crore compared to Rs 498 crore during Q4FY24.
  • Achieved new all-time-high volume of 5.7 MMT
  • Industry-leading premiumization2 and trade mix at 40% and 75% respectively.

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Cement & Cement Products company Nuvoco Vistas Corporation announced Q3FY25 results

  • Volume grew by 16% YoY to 4.7 MMT.
  • Consolidated revenue from operation stood at Rs 2,409 crore.
  • Consolidated EBITDA stood at Rs 258 crore.
  • Consolidated cement sales volume registered a strong growth of 16% YoY to 4.7 MMT in Q3FY25.

Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp, said: “The Company proactively seized demand opportunities to bolster its position in the market and delivered strong volume growth during the quarter. Price increases in the recent period continue to reflect a positive trend, while sustained improvements in demand should support prices as well. Strategic priorities for the company remain centered on driving premiumization, optimizing geomix, enhancing fuel mix efficiency, strengthening brand presence, and maintaining cost excellence. The Company is confident in its expansion strategy and ability to execute on growth plans pertaining to Vadraj Cement, which will diversify its market footprints in the Western India, thereby supporting long-term growth ambitions and further consolidating its position as the 5th largest player in India.”

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Cement & Cement Products company Nuvoco Vistas Corporation announced Q2FY25 results

  • Consolidated revenue from operation stood at Rs 2,269 crore.
  • Consolidated EBITDA stood at Rs 229 crore.
  • Union Budget for FY25 has earmarked approximately Rs 11.11 lakh crore for infrastructure investments, the pace of on-ground execution is yet to see significant pick-up.

Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp., said: “Industry has been facing significant headwinds in recent times, including weak demand coupled with pricing pressure. The timing and pace of demand recovery rests upon on-ground execution of infrastructure and housing projects including those under PMAY and Purvodaya schemes. Moreover, sustainability of price improvements is contingent upon sustained demand growth. Nuvoco is navigating these volatilities with resilience by prioritizing premiumization, geo-optimization, brand strength, and operational excellence.”

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Cement & Cement Products company Nuvoco Vistas Corporation announced Q1FY25 results:

Financial Highlights: 

  • Consolidated revenue from operation stood at Rs 2,636 crore
  • Consolidated EBITDA stood at Rs 348 crore
  • The Company's consolidated cement sales volume stood at 4.8 MMT in Q1 FY25. Consolidated revenue from operations stood at Rs 2,636 crore, during the same period. Consolidated EBITDA for the quarter stood at Rs 348 crore.

Commenting on the performance of the Company, Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp., stated, “The Company navigated the quarter marked by soft demand, primarily due to elections, weather-related factors, and continued pressure on pricing. Despite these challenges, the focus remained on strategic priorities such as value optimization, cost optimization, and operational efficiency. The Company has reached the lowest blended fuel cost in the last 11 quarters at Rs 1.57/ Mcal. The SAP unification program was successfully completed in line with the Company’s digital transformation journey, enabling us to streamline processes across the organization. Additionally, railway siding projects in Odisha and Sonadih are at an advanced stage of completion, which will further improve efficiency and profitability.

He further added, “Looking ahead, the timing and pace of demand recovery will depend on the onground execution of infrastructure and housing projects. In the near term, headwinds primarily stem from the demand-supply imbalance and continued pricing pressure. To address these challenges, the Company will continue to focus on value optimization, premiumization, geo-optimization, brand strengthening, along with a strong emphasis on cost optimization.”

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Cement & Cement products company Nuvoco Vistas Corporation announced FY24 results:

Financial Highlights:

  • Consolidated EBITDA at Rs 1,657 crore and PAT at Rs 147 crore; achieving highest-ever profitability
  • Net debt reduced by Rs 384 crore YoY to Rs 4,030 crore
  • Successfully commissioned 1.2 MMTPA Grinding unit at Haryana, increasing North share of capacity from 20% to 24%
  • The Company's consolidated cement sales volume stood at 18.8 MMT in FY24.
  • Consolidated revenue from operations stood at Rs 10,733 crore, in FY24. Consolidated EBITDA improved by 35% YoY to Rs 1,657 crore.
  • The company reduced net debt by Rs 384 crore YoY to Rs 4,030 crore, resulting in Net debt / EBITDA of 2.4x. 

Commenting on the performance of the Company, Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp. stated, “The Company enhanced its operational efficiencies and delivered strong growth in EBITDA and PAT despite a volatile demand environment during FY24, achieving the highest profitability. Our commendable operational outcomes reflect our dynamic and efficient strategy focused on premiumisation and cost optimisation. Moving to FY25, our strategies focus on growth, expanding our market presence, and extracting more volumes from home markets while continuing our thrust on efficiency improvement initiatives.”

Furthermore, he added, “The additional capacity in Haryana allows us to expand our market presence in the North while maintaining our leadership in the East. We have also seized the opportunity to grow our ReadyMix Concrete business, commissioning seven new plants this fiscal year, bringing the total to 58 plants pan-India.” 

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Cement & cement products company Nuvoco Vistas Corporation announced Q1FY24 results:

  • Consolidated cement sales volume for the Company increased by 7% YoY to 5 MMT in Q1FY24.
  • Consolidated revenue from operations during Q1FY24 improved by 6% YoY to Rs 2,805 crore
  • Consolidated EBITDA increased 7% YoY to Rs 402 crore
  • The company has amongst the lowest carbon emissions at 462 kg CO2 per ton of cementitious materials

Commenting on the performance of the Company, Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp. stated, “Cement demand continues to witness healthy growth on account of government initiatives in the infrastructure and housing segments. We anticipate an uptick in construction activities post-monsoon. Moreover, we have successfully countered the dynamic cost environment through the optimization of the power and fuel mix between pet coke, linkage coal, and AFR supported by a reduction in pet coke and coal prices.”

Furthermore, he added, “As for the expansion projects, the debottlenecking at the Risda Cement Plant has been completed during the quarter, while the cement expansion at Haryana Plant and debottlenecking at Nimbol Cement Plant are scheduled to be completed by September 2023 which will help us to establish a stronger presence in the North. The Ready-Mix Concrete business continues to expand its footprint across the country and has commissioned three new plants during this quarter.”

 

 

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Cement & cement products company Nuvoco Vistas Corporation announced Q4FY23 & FY23 results:

  • Consolidated Q4FY23:
    • Revenue improved 12% QoQ to Rs 2,929 crore
    • Cement sales volume improved 17% QoQ to 5.2 MnT
    • EBITDA improved 41% QoQ to Rs 383 crore
    • Net debt declined by Rs 751 crore to Rs 4,414 crore from Q3FY23
  • Consolidated FY23:
    • Revenue from operations improved by 14% YoY to Rs 10,586 crore for FY23
    • Cement sales volume improved 5% YoY to 18.8 MnT in FY23
    • Profit after tax for FY23 stands at Rs 16 crore

Announcing the results of the quarter, Jayakumar Krishnaswamy, Managing Director of Nuvoco Vistas Corp, stated, “The macroeconomic indicators demonstrate a positive outlook for the sector as annual consumer inflation in India eased to 5.7% in March-23 and fuel prices have moderated from their recent highs. Manufacturing and investment activity is expected to increase in the economy due to the Government's emphasis on capital expenditure, better capacity utilization in manufacturing, double-digit credit growth, and moderated commodity prices. With the Government's continued focus on developing infrastructure and rural housing, cement demand is expected to remain strong in FY24.”

He further added, “We have increased our market share for premium products to 36% on trade volumes in FY23 and this will continue to be a major thrust area for us. Our growth projects in the north, including Bhiwani's 1.2 MTPA cement capacity expansion and debottlenecking at Nimbol, are progressing well and will help us establish a stronger presence in the region. Ready-Mix Concrete (RMX) indicates growth momentum, and we are actively ramping up pan-India plant operations. Our commitment to this business is demonstrated by the back-to-back commissioning of the Guwahati and Coimbatore plants”.

 

 

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Cement products firm Nuvoco Vistas Corporation announced Q3FY23 results:

  • Consolidated Q3FY23:
    • Revenue improved 20% YoY and 8% QoQ to Rs 2,605 crore. 
    • EBITDA improved 13% YoY and 40% QoQ to Rs 272 crore. 
    • Net debt declined to Rs 5,165 crore from the Q2FY23 level.

Announcing the results of the quarter, Mr. Jayakumar Krishnaswamy, Managing Director of Nuvoco Vistas Corp. Ltd. stated, "The recently announced Union Budget 2023-24 significantly boosts the infrastructure sector, facilitating the economy's growth. In the next fiscal year, an increase in capital expenditure by 33% to Rs 10 lakh crores and 66% higher allocation for Pradhan Mantri was Yojana will drive construction growth and Nuvoco will continue to capitalize on it."

He further added, "During Q3FY23, our revenue per ton improved on healthy price hikes with an ongoing push on premium cement volumes, leading to an increase in our EBITDA on both YoY and QoQ basis. This is despite the peaking of energy costs and the reimposition of busy season surcharge on the rail freight during the quarter. Going forward, we are seeing green shoots with robust demand drivers, optimism around price hikes, and softening fuel costs. At the same time, our cape priority will largely focus on the diversification of our footprints through asset-light investment, cost savings, and sustainability projects."

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