India · Delayed Price · Currency is INR Nuvoco Vistas Corporation Earnings Call Transcripts
Fiscal Year 2026
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Record annual volumes and EBITDA achieved, with strong Q4 performance and premiumization gains. Rising input costs and supply chain challenges are being managed through price hikes, efficiency initiatives, and strategic CapEx, while industry demand is expected to grow 7%-9% in FY 2027.
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Q3 FY 2026 saw record cement volumes and a 50% EBITDA increase year-over-year, driven by strong demand recovery, premiumization, and cost efficiencies. Expansion projects and disciplined capital management position the company for double-digit growth and margin improvement.
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Q2 FY 2026 saw a 62% YoY EBITDA increase to INR 371 crore, driven by premiumization and operational efficiency, despite monsoon and GST transition headwinds. Expansion projects in East and West are on track, with demand and volume growth expected to accelerate in H2.
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Record Q1 with 6% volume and 9% revenue growth, highest-ever Q1 EBITDA, and strong premiumization. Vadraj Cement acquisition expands Western presence, with phased CapEx and innovative financing. Demand outlook remains positive, supported by government capex.
Fiscal Year 2025
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Achieved record cement sales and revenue growth in Q4 FY 2025, with robust cost savings and premiumization. Vadraj Cement acquisition will expand capacity, funded with minimal net debt increase. Demand outlook remains strong, supported by government capex and favorable market conditions.
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Q3 FY 2025 saw 16% YoY volume growth and improved cost efficiencies, though realizations were impacted by weak prices until December. The Vadraj Cement acquisition will expand capacity and market presence, with integration and NCLT approval as key risks.
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Revenue and EBITDA declined due to weak demand and pricing, but premiumization and cost efficiency initiatives supported margins. Net debt reduction remains on track, with management optimistic for demand recovery and high single-digit volume growth in H2 FY25.
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Q1 FY 2025 saw soft demand and pricing pressure, but cost optimization and premiumization supported margins. Net debt continued to decline, and expansion plans remain on track for FY 2026, with a cautious near-term outlook dependent on infrastructure and housing spend.