Please find attached the transcript of the investors/analyst conference call held on 11th May, 2026 at 12:00 noon (IST) on the Annual Audited Standalone and Consolidated Financial Results ....
BIRLACORPN · price
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Birla Corporation reported its highest-ever full-year performance in FY '26 with ~4% volume growth and EBITDA of ~INR800 crore for the year and ~INR1,000 crore in Q4. Key operational highlights include blended cement mix improving to 88% (from 82% YoY), trade segment share rising to 77%, and Mukutban volumes growing to 27.7 lakh tons. Lead distance reduced from 360 km to 337 km. The company has commissioned a 1.4 million ton Kundanganj plant and its Bikram coal block has started production, with full capacity of 3.6 lakh tons expected in FY '27 at a landed cost of INR1-1.05 per kcal versus current market prices of ~INR1.45, delivering meaningful cost arbitrage. Total capacity is slated to expand from 21.5 to 27.5 million tons by FY '29 (Maihar Line-II plus Prayagraj and Gaya grinding units), requiring INR4,753 crore total capex (net ~INR4,300 crore). Net debt stands at INR2,100 crore with peak expected at INR4,000 crore during the capex cycle, within a 2.5x Debt/EBITDA ceiling. Management flagged INR150-175 per ton cost inflation in Q1 onwards (fuel and packaging). Renewable energy share is being raised from 31% to ~37-38%.
Strong execution with mix improvement and coal block cost savings position the company well, though rising fuel costs and a debt increase to fund the INR900 crore FY '27 capex may offset margin gains. The company maintains a premiumisation strategy and avoids aggressive capacity expansion unlike peers.