Orient Cement Q2 FY27 Results: Standalone Net Profit ₹32.00 Crore on Total Income of ₹578 Crore

Summary

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Net profit fell faster than total income. Standalone net profit was ₹32 crore against ₹49 crore a year earlier, down 34.8%, while total income fell 11.8%, from ₹655 crore to ₹578 crore. Profit before tax was ₹44 crore against ₹74 crore. Tax of ₹12 crore was 27.3% of profit before tax, against 33.4% a year earlier and 25.2% in the June quarter. Basic EPS of ₹1.56 compares with ₹2.39 a year earlier and ₹3.76 in the June quarter.

Revenue from operations, the larger line, fell 12.2% year on year to ₹565 crore and 6.5% from ₹604 crore in the June quarter. Other income moved the other way: it rose 9.8% to ₹13 crore and made up 2.2% of total income. Finance costs were ₹1 crore against ₹2 crore a year earlier, or 0.2% of total income, so financing costs are a small part of the cost base.

Two items sit outside this quarter's figures. The statement shows no exceptional item for the quarter or the half year. The ₹6 crore exceptional item is for the year to 31 March 2026 and arose from the Labour Codes; the filing says the final Central Rules notified in the June quarter had no material financial impact on the company, and State Rules are still being monitored. Depreciation was ₹43 crore against ₹101 crore a year earlier; note 6 says the year-earlier charge was ₹63 crore higher after changes in the useful life and residual value of power plant assets. Note 7 records that in the year to 31 March 2026 the company reversed ₹81 crore of deferred tax liability after adopting the reduced tax rate under Section 115BAA, and reversed a ₹17 crore excess tax provision for FY 2024-25. Neither falls in this quarter.

For the company as a whole, the filing shows Ambuja Cements Limited as its holding company with 72.66% of the shares, after a share purchase completed on 22 April 2025 and an open offer completed on 18 June 2025 at ₹395.40 a share. The company has no subsidiaries. Shareholders approved a proposed scheme of amalgamation with Ambuja Cements Limited on 28 September 2026, and the NCLT has fixed 19 November 2026 as the hearing date for the petition. For the half year, total income was ₹1,187 crore against ₹1,524 crore and profit after tax ₹109 crore against ₹254 crore. Operating cash flow was ₹533 crore against an outflow of ₹56 crore a year earlier. Trade receivables stood at ₹310 crore, down from ₹840 crore at 31 March 2026, and ₹512 crore of inter-corporate deposits to Ambuja Cements Limited, carrying 8% a year and repayable on or before 31 March 2027, appear as loans.

Inference

The ₹512 crore loan to Ambuja Cements Limited is now the largest current asset on the balance sheet, larger than trade receivables of ₹310 crore. The filing sets its repayment as on or before 31 March 2027, and its interest at 8% a year.

For shareholders, the proposed scheme would issue 33 shares of ₹2 face value for every 100 shares of ₹1 face value held by shareholders other than Ambuja Cements Limited, and cancel the shares Ambuja holds in the company. The filing does not say what the scheme would do to per-share figures, and it still needs NCLT sanction.

Not stated in the filing: the reasons for the fall in revenue and in trade receivables, the effective tax rate for the quarter, how the ₹512 crore deposit will be repaid, and the outcome of the NCLT hearing on 19 November 2026.

Reference: Original filing (PDF)