We are submitting Questions and Answers on the Financial Results of the Company for the quarter and half year ended on 30th September 2025.
Awaiting price reaction for this filing.
Sanghi Industries shared a question-and-answer document explaining its September 2025 quarter performance. Cement capacity utilization rose sharply to 36% in Q2 FY26 from 23% a year earlier, with cement sales volumes up 60% YoY at 0.6 MnT. Clinker sales were 0.1 MnT versus nil in the year-ago quarter. EBITDA jumped to Rs 24.9 crore from Rs 3.1 crore YoY, and per-tonne EBITDA surged to Rs 444 from Rs 87. Management attributed the still-subdued utilization to heavy monsoon and flood-like conditions, and said Q2 was used to complete a scheduled kiln shutdown of Line II and rehabilitation of a 15 km transmission line. Freight costs rose because sales have shifted from the ex-plant MSA route with Ambuja/ACC to FOR-based sales to other Adani group companies, and the kiln shutdown added Rs 38 crore to other expenses.
Sharp YoY improvement in volumes and profitability shows the business is scaling up under the Adani group umbrella, and management's guidance of 70-75% utilization for the rest of FY26 signals further upside. Shareholders should track whether the higher utilization and shift to FOR-based sales sustain margins, as the per-tonne EBITDA gain is the key driver of stock narrative.