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ACC Q2 FY27 results: net profit down 91.7% to ₹93 crore, revenue down 4.1%
ACC Limited reported Q2 FY27 consolidated revenue of ₹5,689 crore, down 4.1% from ₹5,932 crore a year earlier, with EBITDA of ₹401 crore and an EBITDA margin of 7.0%. Net profit was ₹93 crore versus ₹1,119 crore in Q2 FY26, and basic EPS was ₹4.95. The results were approved by the board on 27 October 2026.
Key points
- Q2 FY27 consolidated revenue was ₹5,689 crore, down ₹242.67 crore or 4.1% from Q2 FY26.
- EBITDA was ₹401 crore, down ₹444.69 crore or 52.6% year on year, with margin at 7.0% against 14.3%.
- Net profit was ₹93 crore, down ₹1,026 crore or 91.7% from ₹1,119 crore in Q2 FY26; basic EPS was ₹4.95.
- H1 FY27 revenue was ₹11,497 crore, down 4.3%, while PAT was ₹240 crore, down 83.9% from H1 FY26.
- On the standalone basis, Q2 FY27 revenue was ₹5,635 crore, down 3.7%, and PAT was ₹101 crore.
How did ACC perform in Q2 FY27?
ACC reported consolidated revenue of ₹5,689 crore for Q2 FY27, down ₹242.67 crore or 4.1% from ₹5,932 crore in Q2 FY26 and ₹119 crore or 2.0% lower than ₹5,808 crore in Q1 FY27. Total income was ₹5,796 crore, down 5.8% year on year and down 1.1% from the previous quarter.
EBITDA for the quarter was ₹401 crore, down ₹444.69 crore or 52.6% from ₹845.69 crore a year earlier, and down ₹56 crore or 12.3% from ₹457 crore in Q1 FY27. The EBITDA margin was 7.0%, against 14.3% in Q2 FY26 and 7.9% in Q1 FY27, a fall of 7.3 percentage points year on year and 0.9 percentage points sequentially.
Profit before tax was ₹123 crore, down ₹638.93 crore or 83.9% from ₹761.93 crore a year earlier, and the company reported a net profit of ₹93 crore against ₹1,119 crore in Q2 FY26. Basic EPS was ₹4.95, down ₹54.65 or 91.7% from ₹59.60 and down ₹2.88 from ₹7.83 in the previous quarter. On the standalone basis, revenue was ₹5,635 crore and PAT was ₹101 crore, against ₹1,112.16 crore of standalone profit before exceptional items and tax in the year-ago quarter.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 5,689 | 5,808 | 5,932 | −4.1% | −2.0% |
| Other income | 107 | 53 | 223.68 | −52.2% | +101.9% |
| Total expenses | 5,602 | 5,639 | 5,393 | +3.9% | −0.7% |
| EBITDA | 401 | 457 | 845.69 | −52.6% | −12.3% |
| EBITDA margin | 7.0% | 7.9% | 14.3% | −7.3 pp | −0.9 pp |
| Profit before tax | 123 | 198 | 761.93 | −83.9% | −37.9% |
| Tax | 31 | 53 | −356.09 | −41.5% | |
| Net profit | 93 | 147 | 1,119 | −91.7% | −36.7% |
| EPS (₹) | 4.95 | 7.83 | 59.60 | −91.7% | −36.8% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in ACC's costs and profit?
Total expenses rose ₹208.58 crore or 3.9% to ₹5,602 crore from ₹5,393 crore in Q2 FY26. Cost of materials consumed fell ₹151.13 crore or 13.9% to ₹938 crore and employee benefits expense fell ₹10.19 crore or 5.7% to ₹169 crore, while depreciation fell ₹4.54 crore or 1.6% to ₹274 crore.
Other expenses rose ₹70.25 crore or 2.8% to ₹2,575 crore and finance costs rose ₹11.10 crore or 38.4% to ₹40 crore. The company recorded an exceptional item charge of ₹71 crore, against no exceptional item in Q2 FY26. Other income fell ₹116.68 crore or 52.2% to ₹107 crore.
Tax for the quarter was ₹31 crore, against ₹356.09 crore in the year-ago quarter. The filings show that a tax write back relating to earlier periods of ₹671 crore was recorded in the standalone statement for the year-ago quarter. The filings do not state a reason for the movement in revenue, other income or the cost lines.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 938 | 1,089 | −151.13 | −13.9% |
| Employee cost | 169 | 179.19 | −10.19 | −5.7% |
| Finance costs | 40 | 28.90 | +11.10 | +38.4% |
| Depreciation | 274 | 278.54 | −4.54 | −1.6% |
| Other expenses | 2,575 | 2,505 | +70.25 | +2.8% |
| Total expenses | 5,602 | 5,393 | +208.58 | +3.9% |
| Other income | 107 | 223.68 | −116.68 | −52.2% |
| Tax | 31 | −356.09 | +387.09 | |
| Exceptional items | −71 (charge) | none |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹11,497 crore, down ₹521.9 crore or 4.3% from ₹12,018.9 crore in H1 FY26. Total income was ₹11,657 crore, down ₹653.93 crore or 5.3% from ₹12,310.93 crore.
Profit before tax fell ₹1,002.26 crore or 75.7% to ₹321 crore from ₹1,323.26 crore, and PAT fell ₹1,254.68 crore or 83.9% to ₹240 crore from ₹1,494.68 crore. EPS for the first half was ₹12.78, down ₹66.81 or 83.9% from ₹79.59.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 11,497 | 12,019 | −4.3% |
| Profit before tax | 321 | 1,323 | −75.7% |
| Net profit | 240 | 1,495 | −83.9% |
| EPS (₹) | 12.78 | 79.59 | −83.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets on the consolidated balance sheet stood at ₹28,785 crore as on 30 September 2026, against ₹27,525.26 crore as on 31 March 2026. Total equity was ₹20,680 crore against ₹20,554.49 crore, and borrowings were nil at both dates. Cash was ₹288 crore, against ₹537.35 crore.
Inventories rose to ₹1,825 crore from ₹1,789.12 crore, trade receivables fell to ₹2,530 crore from ₹3,841.63 crore, and trade payables rose to ₹3,459 crore from ₹2,453.81 crore. In H1 FY27, operating cash flow was ₹4,957 crore, against negative ₹2,272.67 crore in H1 FY26, while investing cash flow was negative ₹4,972 crore against ₹1,727.47 crore a year earlier. Capital expenditure was ₹700 crore, against ₹765.88 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 28,785 | 27,525 |
| Total equity | 20,680 | 20,554 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 288 | 537.35 |
| Inventories | 1,825 | 1,789 |
| Trade receivables | 2,530 | 3,842 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 4,957 | −2,273 |
| Cash from investing | −4,972 | 1,727 |
| Cash from financing | −235 | −257.77 |
| Capital expenditure | 700 | 765.88 |
Source: Company's results filing (XBRL).
How has ACC done over the last 8 quarters?
Revenue peaked at ₹7,146.18 crore in Q4 FY26 and then fell to ₹5,808 crore in Q1 FY27 and ₹5,689 crore in Q2 FY27. The EBITDA margin peaked at 14.3% in Q2 FY26 and reached 7.0% in the latest quarter, the lowest level in the series shown.
Net profit moved from ₹1,119.26 crore in Q2 FY26 to ₹404.25 crore in Q3 FY26, ₹238.3 crore in Q4 FY26 and ₹147 crore in Q1 FY27 before ending at ₹93 crore in Q2 FY27. On the consolidated figures, the latest quarter shows revenue, profit and margin each lower than the quarter before.
Which businesses drove the quarter?
Cement and ancilliary services reported revenue of ₹5,206 crore and EBIT of ₹83 crore, an EBIT margin of 1.6%. Ready Mix Concrete reported revenue of ₹574 crore, up 26.5% from ₹453.62 crore, and EBIT of ₹49 crore against ₹32.07 crore, with an EBIT margin of 8.5%.
Interest and Dividend Income recorded EBIT of ₹98 crore, against ₹217.44 crore in the year-ago quarter. The Exceptional Items Expense segment carried EBIT of negative ₹71 crore, and share of profit of associates and joint ventures was ₹1 crore. Year-ago revenue and EBIT for cement and ancillaries were not given in the filing.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Cement and ancilliary services | 5,206 | 83 | 1.6% | |
| Ready Mix Concrete | 574 | +26.5% | 49 | 8.5% |
| Interest and Dividend Income | 0 | 98 | ||
| Exceptional Items Expense | 0 | −71 | ||
| Share of profit of associates and joint ventures | 0 | 1 | ||
| Unallocated | 0 | 0 |
Source: Company's results filing (XBRL segment data).
What did ACC's management say?
Management maintained an FY27 cost target of INR4,250 per metric ton and FY28 guidance of INR4,000 per ton on combined existing and new capacity. It said H2 FY27 trade and institutional volumes are expected to turn positive, with overall growth ahead of the industry and exit utilisation around 75%. The CEO said, “With these numbers -- with these measures, we are on track to achieve our FY27 cost target of INR4,250 per metric ton.”
Management identified geopolitical conflict and global energy prices, weak monsoon and drought declarations in key states, domestic coal availability constraints, expansion execution risk, and low utilisation at Penna and Sanghi as risks. It said the ACC, Orient Cement and Ambuja mergers are expected to complete within FY27, subject to regulatory, statutory and NCLT approvals. The CEO said, “Subject to the requisite regulatory, statutory and NCLT approvals, we expect completion of the mergers within this financial year.” No analyst questions were recorded in the filing.
How did ACC shares react?
The stock moved 2.2% lower within five minutes of the filing appearing, was unchanged after 15 minutes, and was up 0.5% after 30 minutes. On the reaction day, ACC closed 0.7% above its previous close of ₹1,164.90, while the Cement & Cement Products sector median was down 0.5%.
By the next day's close, the stock was down 2.3% from its pre-results close, against a sector median of down 0.9%, and by the fifth session it was up 0.2% from that close, against a sector median of up 1.0%. On earlier results days, the reaction-day moves were down 1.3% on 30 April 2026, down 0.6% on 28 January 2026, up 1.0% on 31 October 2025 and down 2.9% on 24 July 2025.
| After the filing | Stock | Cement & Cement Products median |
|---|---|---|
| 5 minutes | −2.2% | |
| 15 minutes | −0.0% | |
| 30 minutes | +0.5% | |
| Reaction day | +0.7% | −0.5% |
| Next day | −2.3% | −0.9% |
| 5 days | +0.2% | +1.0% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 30 April 2026 | −1.3% |
| 28 January 2026 | −0.6% |
| 31 October 2025 | +1.0% |
| 24 July 2025 | −2.9% |
| 24 April 2025 | +0.5% |
| 27 January 2025 | −2.6% |
| 24 October 2024 | +0.1% |
| 29 July 2024 | −0.7% |
Source: MarketPing price-reaction measurement.
How did other Cement & Cement Products companies do?
Nineteen other Cement & Cement Products companies have filed for this quarter, and their median revenue growth was 13.5%, against a decline of 4.1% for ACC. Of those peers, 18 grew revenue faster than ACC and one grew slower.
Nine of the 19 peers reported higher profit than in the year-ago quarter.
| ACC revenue growth (YoY) | −4.1% |
|---|---|
| Median of 19 other Cement & Cement Products companies | +13.5% |
| Companies with slower revenue growth than ACC | 1 of 19 |
| Companies with faster revenue growth than ACC | 18 of 19 |
| Companies whose net profit rose | 9 of 19 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was ACC's revenue in Q2 FY27?
Revenue from operations was ₹5,689 crore, down 4.1% from ₹5,932 crore in Q2 FY26 (consolidated).
Did ACC make a profit in Q2 FY27?
Yes. Net profit was ₹93 crore, against a net profit of ₹1,119 crore in Q2 FY26.
What was ACC's EPS in Q2 FY27?
Basic earnings per share were ₹4.95, against ₹59.60 in Q2 FY26.
How did ACC shares react to the Q2 FY27 results?
On the reaction day the stock moved +0.7% from the previous close; the median Cement & Cement Products stock moved −0.5%.
When did ACC announce its Q2 FY27 results?
On 27 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of The Unaudited Financial Results (Standalone And Consolidated) Of The Company For The Quarter And Half Year Ended On September 30, 2026. (BSE, 8 October 2026) · PDF
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation (BSE, 8 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On October 27, 2026. (BSE, 27 October 2026) · PDF
- Unaudited Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2026. (BSE, 27 October 2026) · PDF
- The earnings call (3 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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