Sagar Cements (502090) Q4 25/26 earnings summary

Executive summary

• FY26 revenue grew 17–20% year-over-year, with Q4 revenue up 20% YoY, driven by resilient demand and favorable pricing, especially in non-trade segments.

• Sales volumes increased 11% for the year and 8% for the quarter, reaching 6.1 million tons, with EBITDA per ton for Q4 at INR 445, more than doubling YoY.

• Profit after tax for Q4 FY26 was INR 100 crore (₹10,005 lakhs), reversing a loss in Q4 FY25.

• Minimum public shareholding in Andhra Cements completed via OFS, and board approved its amalgamation with the parent, pending regulatory approvals.

• New Superfine Building Materials division launched to target advanced, eco-friendly construction materials.

Financial highlights

• FY26 revenue: ₹2,65,002 lakhs (+17% YoY); Q4 FY26 revenue: ₹787 crore (+20% YoY, +33% QoQ).

• FY26 EBITDA: ₹29,199 lakhs (+107% YoY); Q4 FY26 EBITDA: ₹8,154 lakhs (+121% YoY); Q4 FY26 EBITDA per ton: ₹445 (+104% YoY).

• Gross debt as of March 31, 2026: INR 1,672 crore (₹1,67,199 lakhs); net worth at INR 1,861 crore (₹1,83,478 lakhs); debt-equity ratio: 0.74.

• Cash and bank balances stood at INR 107 crore; consolidated cash and cash equivalents at year-end: ₹352 lakhs.

• One-off expenses of INR 10.5 crore in Q4 related to mine bearing lands and District Mineral Foundation.

Outlook and guidance

• FY27 volume guidance is 7 million tons, supported by plant upgrades and ramp-up at Jeerabad and Andhra Cements.

• EBITDA per ton expected to improve further, targeting INR 600, contingent on stable pricing and internal cost savings.

• CapEx of INR 140 crore for Andhra, INR 17 crore for Gudipadu, and INR 33 crore for Jeerabad pending in FY27.

• Land monetization in Vizag expected to yield INR 350 crore over two years, with INR 150 crore anticipated in FY27.

• Deferred tax assets recognized on carried-forward losses in Andhra Cements based on projected future taxable income.