Star Cement Limited has informed the Exchange about Transcript
STARCEMENT · price
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Star Cement reported strong Q1 FY26 results with revenue up 15% YoY at Rs. 847 crores and EBITDA nearly doubling to Rs. 230 crores. Per-ton EBITDA improved sharply from Rs. 1,018 to Rs. 1,774, supported by a Rs. 62 crore subsidy, lower fuel cost (Rs. 1.35 per Kcal vs Rs. 1.54), and 79% fuel sourcing via long-term FSA contracts. Cement sales volume rose to 12.22 lakh tons with a volume guidance of 5.4-5.5 million tons for FY26. Management confirmed ongoing expansions at Silchar (commissioning Jan-Feb 2026) and Jorhat (Jan-Feb 2027), with a greenfield entry into Rajasthan planned in 3-3.5 years involving Rs. 2,400-2,500 crores CAPEX. The company holds 27-28% market share in the Northeast (14 million ton market growing at ~10% CAGR), a net debt of Rs. 320 crores, and a comfort cap of Rs. 1,500 crores of debt.
Strong quarter with sharp margin expansion and clear capacity growth roadmap is positive for shareholders. EBITDA per ton of Rs. 1,774 and fuel cost improvements signal margin sustainability, while expansion plans target doubling capacity by FY30 (aspirational 20 million ton target). Investors should watch for timely commissioning of Silchar/Jorhat and clarity on Rajasthan mine acquisition outcome.