At the Meeting of the Board of Directors held today i.e. 14/11/2025, the Board considered and approved the Un-audited Financial Results and segment wise revenue results for the Quarter/Half ....
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Shri Keshav Cements reported a strong turnaround in Q2 FY26 with revenue from operations rising about 45% year-on-year to Rs. 3,541.37 lakhs, driven by cement dispatch growth of 52% and sales growth of 64%. The company swung to a profit of Rs. 68.51 lakhs in Q2 from a loss of Rs. 418.36 lakhs a year ago, while H1 FY26 profit stood at Rs. 377.91 lakhs versus a loss of Rs. 240.03 lakhs in H1 FY25. EBITDA more than doubled (+132%) to Rs. 918.08 lakhs with margin expanding sharply from 15.5% to 25.4%. Cement remains the dominant segment (~85% of revenue), while the solar energy segment continues to post a small loss. Operating cash flow was healthy at Rs. 1,641.33 lakhs in H1 FY26, though total borrowings of around Rs. 24,158 lakhs keep the debt-equity ratio elevated at roughly 2.4x.
The sharp improvement in profitability, revenue growth, and margin expansion signals a strong operational turnaround that is likely to be viewed positively by investors. However, an ongoing GST investigation involving Rs. 641.52 lakhs plus Rs. 218.11 lakhs in interest/penalties, flagged by auditors in their qualified review, remains a key overhang on sentiment.