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Sagar Cements Results: Latest Quarterly Results & Analysis

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Sagar Cements Ltd. 24 Oct 2025 11:27 AM
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Q2FY26 Quarterly Result Announced for Sagar Cements Ltd.

Cement & Cement Products company Sagar Cements announced Q2FY26 results

  • Revenue increased by 27% YoY and volume increased by 17% from Rs 47,512 lakh in Q2FY25 to Rs 60,186 lakh in Q2FY26.
  • Operating EBITDA of Rs 5,133 lakh for Q2FY26 as against Rs 1,993 lakh during Q2FY25.
  • Operating EBITDA of Rs 377 per ton during Q2FY26.
  • EBITDA margin increased by 500 bps to 9% for Q2FY26 (v/s Q2FY25).
  • Loss after tax stood at Rs 4,417 lakh for Q2FY26 v/s Loss of Rs 5,698 lakh during Q2FY25.

Sreekanth Reddy, Jt. Managing Director, Sagar Cements, said: We have maintained our growth momentum in Q2, with significant volumes growth on a YoY basis, despite the seasonal impact of the monsoon. As expected, realisations softened during the quarter; however, the overall operating environment remained stable with input prices continuing to be benign.

Our focus on operational efficiency and cost optimization helped us sustain healthy margins even in a softer pricing environment. EBITDA/ton remained resilient, supported by higher plant utilisation levels and disciplined cost management across the value chain.

With the monsoon season now behind us, we expect demand momentum to pick up in H2, led by the continued push in infrastructure, housing, and construction activities. For FY26, we expect our overall sales volumes to be around 6 million MT.

Our capacity expansion projects at Andhra Cement, and Jeerabad are progressing as per plan. The construction of 6-stage pre-heater was successfully completed at the Dachepalli Plant of Andhra Cements and after trial runs it got commissioned on 23rd October, 2025, further we expect to commission the cement capacity by the end of Q1FY27.The 4.35 MW WHR project at the Gudipadu unit and the expansion of the Jeerabad capacity from 1 MTPA to 1.5 MTPA are expected to be commissioned by the end of FY26.

We remain committed to driving sustainable and profitable growth through operational excellence, enhanced regional presence, and increased use of renewable energy across our manufacturing footprint

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Cement & Cement Products company Sagar Cements announced Q1FY26 results

  • Revenue increased by 20% YoY and volume increased by 11% in Q1FY26 Rs 67,066 lakh.
  • Plants operated at around 55% during the current quarter.
  • Operating EBITDA of 12,145 lakh for Q1FY26 as against Rs 4,670 lakh during Q1FY25.
  • Operating EBITDA of Rs 851 per ton during Q1FY26.
  • EBITDA margin stood at 18% in Q1FY26 v/s 8% in Q1FY25.
  • Profit after tax stood at Rs 749 lakh for Q1FY26 v/s loss of Rs 3,220 lakh during Q1FY25.

Sreekanth Reddy Jt. Managing Director, said: We have started the year on a strong note as can be seen from our financials. Volumes for the quarter grew by 11% on a YoY basis driven by pick up Government spendings, construction sector and housing sector. In addition to higher volumes, the quarterly performance was also aided by better pricing environment. The combination of which resulted in revenue growth of 20% YoY for the quarter.

EBITDA for the quarter stood at Rs 121 crore, with margins of 18%. EBITDA/ton improved to Rs 851 owing to better realisations, higher operating leverage and benign input prices. Our focus remains on driving down costs and reinforcing our competitive advantage in cost efficiency. By improving operational performance and integrating more renewable energy, we are poised for steady growth in profitability and margins in the years ahead.

Our modernisation plans at Andhra Cements Dachepalli unit is progressing as per schedule. We are confidant of achieving our target volume of ~6 MnT in FY26.

The Board of one of the subsidiaries Sagar Cements (M) Private Limited has given approval to take up the expansion of cement grinding capacity from 1 MTPA to 1.5 MTPA and as part of green energy initiatives to establish a 6 MW solar power plant, involving a capex of around Rs 140 crore.

In conclusion, we believe our enhanced capacities positions us strongly to capitalize on the growing demand from the infrastructure and real estate sectors in the coming years. Additionally, our continued focus on diversifying revenue streams and expanding our regional presence is expected to further strengthen the company’s overall profitability profile.

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Cement & Cement Products company Sagar Cements announced Q4FY25 results

  • Revenue decreased by 7% YoY and volume increased by 5% for Q4FY25 to Rs 65,804 lakh from Rs 70,871 lakh during Q4FY24.
  • Operating EBITDA of Rs 3,682 lakh for Q4FY25 as against Rs 6,813 lakh during Q4FY24.
  • Operating EBITDA of Rs 218 per ton during Q4FY25.
  • EBITDA margin decreased by 400 bps to 6% for Q4FY25 (v/s Q4FY24).
  • Loss after tax stood at Rs 7,305 lakh for Q4FY25 v/s Profit of Rs 1,158 lakh during Q4FY24.

Sreekanth Reddy, Jt. Managing Director, said: “Q4 saw a significant 23% (QoQ) increase in volume, as demand carried over from the previous quarter gained further traction due to a rebounding construction sector, real estate growth, and higher government spending. Prices as well after staying stable for large part of the quarter have started trending higher.”

Our EBITDA for the quarter stood at Rs 37 crore, translating to a margin of 6%. On a per-ton basis, EBITDA stood at Rs 218. This improved operational profitability was primarily driven by enhanced operating leverage and a reduction in energy and freight expenses. Looking ahead, we anticipate further strengthening of our operational profitability and margins over the coming years. This positive trajectory will be supported by our strategic initiatives focused on increasing the contribution of green power, implementing cost optimization measures, and achieving higher capacity utilization across our facilities.

For FY26 we believe we will be able to achieve sales volumes of ~ 6.0 to 6.3 million tonnes.

In conclusion, we are confident that our strategic initiatives aimed at reducing freight costs – by shortening lead distances, lowering the clinker factor, modernizing our assets, and optimizing our energy sources – will be instrumental in generating sustainable, long-term value for our shareholders.

Result PDF

Cement & Cement Products company Sagar Cements announced Q3FY25 results

  • Revenue decreased by 16% YoY and volume decreased by 2% for Q3FY25.
  • Plants operated at around 53% during the current quarter.
  • Operating EBITDA of Rs 3,764 lakhs for Q3FY25 as against Rs 8,706 lakhs during Q3FY24.
  • Operating EBITDA of Rs 273 per ton during Q3FY25.
  • EBITDA margin decreased by 600 bps to 7% for Q3FY25 (v/s Q3FY24).
  • Loss after tax stood at Rs 5,445 lakhs for Q3FY25 v/s Loss of Rs 1,050 lakhs during Q3FY24.

Sreekanth Reddy Jt. Managing Director commented: “Q3 performance benefitted in part from the pick-up in demand during the second half of the quarter and steady realisations. While the quarter began on a soft note owing to festive season and labour unavailability, construction activities picked up pace during the second half. Demand from rural segment also revived steadily aided by better agricultural output.

EBITDA for the quarter stood at Rs. 38 crore, with margins of 7%. EBITDA/ton stood at Rs. 273. While input prices remained largely steady compared to previous quarter, we expect the benefit of softening raw material prices to reflect in our financials from next quarter. Moreover, our initiatives to enhance the energy mix by increasing the proportion of green power, improving operational efficiencies, and achieving higher utilization rates across our facilities will contribute to profitability and margin growth in the years ahead.

For the full year FY25 we believe we will be able to achieve sales volumes similar to FY24 of 5.50 MnT.

During January 2025 the Company has successfully commissioned 6 MW Solar Power plant at its Gudipadu Unit. Further the Company has received approvals for implementation of 6 MW Solar Power plant at its Dachepalli unit.

To conclude, we believe that our initiatives to lower freight costs—through shortening lead distances, decreasing the clinker factor, upgrading our assets, and optimizing our energy mix will effectively generate long-term value for our shareholders.”

Result PDF

Cement & Cement Products company Sagar Cements announced Q2FY25 results

  • Revenue decreased by 19% YoY and volume decreased by 12% for Q2FY25.
  • Plants operated at around 43% during the current quarter.
  • Operating EBITDA of Rs 1,993 lakh for Q2FY25 as against Rs 6,022 lakh during Q2FY24.
  • Operating EBITDA of Rs 172 per ton during Q2FY25.
  • EBITDA margin decreased by 600 bps to 4% for Q2FY25 (v/s Q2FY24).
  • Loss after tax stood at Rs 5,698 lakh for Q2FY25 v/s Loss of Rs 1,085 lakh during Q2FY24.

Sreekanth Reddy, Jt. Managing Director, Sagar Cements, said: Our quarterly results depict the difficult industry landscape we are currently navigating. Demand remained subdued owing to extended monsoon season and sluggish project completions, which in turn impacted the overall volume growth during the quarter. Moreover, intense competition in pricing within our primary markets contributed to reduced profitability. EBITDA for the quarter stood at Rs. 20 crore, with margins of 4%.

EBITDA/ton stood at Rs. 172. While input prices remained relatively stable, lower revenues and utilization levels led to margin compression. Despite existing challenges related to demand and pricing, we are steadfast in our commitment to long-term objectives of cost reduction and operational enhancements. Anticipated improvements in the business's margin profile and profitability in the upcoming years are expected to stem from an enhanced energy mix—increased reliance on renewables— and improved efficiencies and utilization rates across our facilities.

For the full year we believe we will be able to achieve volumes of 5.75 million tonnes during FY25.

To conclude, we are confident that enhanced cost efficiency achieved through minimizing lead distances, enhancing green energy usage, reducing clinker factors, and upgrading our ACL plant will position us favorably to enhance customer service, thereby creating significant value for our shareholders.

Result PDF

Cement & cement products company Sagar Cements announced Q1FY25 results:

  • Revenue increased by 4% YoY and volume increased by 9% in Q1FY25.
  • Plants operated at around 49% during the current quarter.
  • Operating EBITDA of 4,670 lakh for Q1FY25 as against Rs 3,050 lakh during Q1FY24.
  • Operating EBITDA of Rs 356 per ton during Q1FY25.
  • EBITDA margin stood at 8% in Q1FY25 v/s 6% in Q1FY24).
  • Loss after tax stood at Rs 3,220 lakh for Q1FY25 v/s loss of Rs 4,228 lakh during Q1FY24 . 

Commenting on the Performance, Sreekanth Reddy, Jt. Managing Director, said: "Our results are largely on expected lines given the soft demand and benign prices which prevailed during the quarter. Volume offtake trended lower amidst intense heat wave, labor unavailability and slowdown in construction activities because of general elections. While certain pockets did witness pick up in demand during the later part of the quarter, on an overall basis it was largely subdued. In line with demand and owing to heightened competitive intensity, prices as well were relatively weak across regions which in turn impacted our topline for the quarter.

EBITDA for the quarter stood at Rs 47 crore, with margins of 8%. EBITDA/ton stood at Rs 356. We remain committed to lowering costs and further solidifying our position as one of the lowest-cost cement producers in the country/industry. With improvement in operational efficiencies across our units and higher share of renewable energy in the mix, we expect our profitability and margins to improve in coming years.

Expansion plan at Dachepalli unit of Andhra Cements Ltd. is progressing as per schedule, and we believe we will be able to achieve volumes of 6.50 MnT during FY25.

The Board has accorded its approval for setting up 6 MW Solar Power Plants each, at its Gudipadu and Dachepalli units which is in line with our stated ESG objectives.

To conclude, we believe our enhanced capacities positions us well to capture the growing infrastructure and real estate demand over the coming years. Furthermore, our efforts towards diversifying revenues streams and increasing our regional footprint should help us in improving the overall profitability profile of the company."

Result PDF

Sagar Cements announced consolidated Q4FY24 results:

  • Revenue increased by 14% YoY and volume increased by 19% for Q4FY24.
  • Plants operated at around 60% during the current quarter.
  • Operating EBITDA of Rs 6,813 lakhs for Q4FY24 as against Rs 3,886 lakhs during Q4FY23.
  • Operating EBITDA of Rs 422 per ton during Q4FY24.
  • EBITDA margin increased by 400 bps to 10% for Q4FY24 (v/s Q4FY23).
  • Profit after tax stood at Rs 1,158 lakhs for Q4FY24 v/s Profit of Rs 8,793 lakhs during Q4FY23.

Result PDF

Cement & Cement products company Sagar Cements announced Q3FY24 results:

  • Revenue increased by 16% YoY to Rs 66,941 lakhs and volume increased by 14% to 14,07,167 MT for Q3FY24.
  • Plants operated at around 55% during the current quarter.
  • Operating EBITDA of Rs 8,706 lakhs for Q3FY24 as against Rs 4,758 lakhs during Q3FY23.
  • Operating EBITDA of Rs 619 per ton during Q3FY24.
  • EBITDA margin increased by 500 bps to 13% for Q3FY24 (v/s Q3FY23).
  • Loss after tax stood at Rs 1,018 lakhs for Q3FY24 v/s Loss of Rs 2,368 lakhs during Q3FY23.

Commenting on the performance, Sreekanth Reddy, Jt. Managing Director of the Company said, “We had a good quarter marked by healthy volumes and steady realisations. Although overall volumes were affected by state elections and labor shortages during the festive season, we witnessed a 14% growth in volumes during Q3FY24 when compared with Q3FY23. Additionally, favorable prices prevailed in our key markets, leading to a 16% increase in revenue for the quarter.

As far as EBITDA and margins are concerned, we observed a significant enhancement on a per-ton basis, consistent with our earlier projections. The combination of increased operating leverage and consistent realizations contributed to improved profitability for the quarter. We anticipate this positive trend to persist in the future, supported in part by higher utilization levels of recently acquired units and strategic initiatives aimed at promoting the use of green power, and alternative fuels, as well as the deployment of electric trucks and wheel loaders.

Operationally, we believe we are on track towards meeting our guidance of attaining 5.6 MnT volumes for the fiscal. Performance and capex plans of our recently acquired unit, Andhra Cements is progressing as per plan.

To conclude, our widespread geographical footprint, advancing product mix, and increased emphasis on elevating the proportion of green fuel in the overall energy mix, collectively position us favorably to generate value for our shareholders.”

 

Result PDF

Sagar Cements announced Q1FY24 results:

  • Revenue decreased by 3% YoY and volume decreased by 1% for Q1FY24.
  • Plants operated at around 47% during Q1FY24.
  • Operating EBITDA of Rs 3,048 lakh for Q1FY24 as against Rs 6,103 lakh during Q1FY23.
  • Operating EBITDA of Rs 258 per ton during Q1FY24.
  • EBITDA margin declined by 500 bps to 6% for Q1FY24 (v/s Q1FY23).
  • Loss after tax stood at Rs 4,223 lakh for Q1FY24 v/s Loss of Rs 1,310 lakh during Q1FY23.

Commenting on the performance, Sreekanth Reddy, Jt. Managing Director of the Company said, “We would like to highlight that Q1 performance was largely impacted owing to the maintenance shutdown undertaken for Matampally’s line II clinker production. That coupled with a competitive pricing environment across our key markets weighed in on our quarterly performance. Realisations have remained relatively stable as compared to the sequential quarter. Demand from both infrastructure and housing segments continued to witness good momentum aiding in healthy volume growth across regions. Incremental volume growth was visible in the newly commissioned plants.

We have seen a decline in our operating profitability by 50% during the quarter in part owing to a benign pricing environment and also largely owing to high-cost inventory on the books. We expect the margins to benefit from falling fuel prices in the coming quarters. In addition to moderating input prices, higher utilization levels and regional diversification should help us deliver better profitability. Although, the overall advantage may be restricted, due to the overall benign pricing environment.

During Q1FY24 the blended cement sales improved to 55% as against 50% reported during Q1 FY23.

In terms of operations, as mentioned earlier, our efforts are directed towards improving the overall efficiencies and ramping up the utilization levels of our recently acquired units. Our Jeerabad and Jajpur facilities are performing in line with our expectations and we believe we will be able to achieve 80% utilization levels for the former and EBITDA breakeven for Jajpur during this fiscal.

On the ESG front, the company has acquired electric trucks & electric wheel loaders to be used in the operation at plants. Also, Company has started growing Bio-mass to use as alternate fuel in the kilns.

To conclude, we believe our geographic and product mix, cost economics, and commitment towards improving operational efficiencies will position us well to create value for our shareholders.”

 

Result PDF

Cement & Cement Products company Sagar Cements announced Q4FY23 & FY23 results:

  • Revenue increased by 24% YoY and volume increased by 20% for Q4FY23
  • Plants operated at around 65% during Q4FY23
  • Operating EBITDA of Rs 3,886 lakh for Q4FY23 as against Rs 6,109 lakh during Q4FY22
  • Operating EBITDA of Rs 286 per ton during Q4FY23
  • EBITDA margin declined by 600 bps to 6% for Q4FY23 (v/s Q4FY22)
  • Other Income includes an amount of Rs 168 crore on redemption of Non-Convertible Debentures held by the subsidiary
  • Profit/(Loss) after tax stood at Rs 9,798 lakh for Q4FY23 v/s PAT of Rs (1,915) lakh during Q4FY22
  • The Board at its meeting held today has recommended for approval of the shareholders a dividend at Rs 0.70 per equity share of Rs 2 each (35%) on the 13,07,07,548 equity shares of the company.

Commenting on the performance, Sreekanth Reddy, Jt. Managing Director of the company said, “We have ended FY23 on a positive note with strong volume growth and moderating raw material prices. Furthermore, the year also marks the milestone of us achieving 10 MnT capacity following the acquisition of Andhra Cements. This acquisition helps us further solidify our position in our core markets and helps us better serve our customers in a cost-effective way.

For the quarter, good demand from infrastructure projects and the IHB segment helped sustain high volumes. The volumes would have been even higher but for labour unavailability due to the festive season and unseasonal rains during the end of Q4. Input prices i.e. coal and pet coke as well moderated during the quarter. A benign pricing environment negated the dual benefit of high operating leverage and lower raw material prices. Our efforts toward cost rationalization and efficiency optimization helped us limit the overall impact of the soft pricing environment. Some of our key initiatives in recent years towards containing cost includes building railway sidings, captive power plant, and waste heat recovery system. We are hopeful of seeing the full benefits from these over the coming years.

Our efforts are now primarily directed toward ramping up the utilization levels of the recently acquired assets. These assets not only offer us the requisite scale but also help us diversify our geographic and product mix. Over the coming years, as we ramp up the operations and utilization levels across units, we expect significant improvement in the operating and profitability profile of the company.

To conclude, our efforts towards cost rationalization, better product mix, and presence across established and faster-growing regions position us well to create value for our stakeholders.”

 

 

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