Q2 revenue rises 11%, but EBITDA falls 16% and profit after tax drops 33%
HEIDELBERG · price
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On the reaction day the stock moved 1.4 pts less than Nifty Microcap 250 and 1.0 pts less than its Cement & Cement Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Q2 revenue rose 11.0% to INR 5,678 million on 7.3% volume growth and 3.4% price growth. EBITDA fell 16.3% to INR 482 million; margin narrowed to 8.5% from 11.2%. Profit after tax fell 32.7% to INR 168 million. Half-year revenue rose 7.8%, but EBITDA fell 21.3% and profit after tax fell 35.3%. Operating cash flow stayed positive at INR 216.5 million. FY26 had an INR 80.4 million labour-code charge; earlier figures were restated.
Revenue growth is positive, but lower EBITDA, earnings and margins signal cost pressure that may weigh on the stock despite low debt.