Sagar Cements Q3 FY26: Revenue at ₹591 Cr, EBITDA ₹38 Cr, Loss ₹64 Cr
Sagar Cements reported Q3 FY26 revenue of ₹591 crore, a 5% increase YoY. EBITDA was ₹38 crore, unchanged from the previous year. The company incurred a loss of ₹64 crore. Volume grew 8% YoY. Projects at Andhra Cements and Jeerabad are progressing, with capacity additions expected by August 2026 and early FY27. Land monetization is expected to yield ₹350 crore over 18 months.
The company is undertaking significant capacity expansions and has a plan for land monetization, which could positively impact future performance. However, the current quarter's results showed a loss and flat EBITDA, indicating a mixed short-term outlook.
While revenue saw a modest increase, the company reported a loss after tax and flat EBITDA. Progress on expansion projects and land monetization are positive developments, but the overall financial performance for the quarter was not significantly improved.
Sagar Cements Limited held a conference call on January 22, 2026, to discuss its unaudited standalone and consolidated financial results for the third quarter and nine months ended December 31, 2025.
The company reported a volume growth of 8% year-on-year in Q3 FY26. Revenue for the quarter stood at ₹591 crore, an increase of 5% from ₹564 crore in Q3 FY25. EBITDA for the quarter was ₹38 crore, same as the previous year's Q3, with EBITDA per tonne at ₹254.
Loss after tax during the quarter was ₹64 crore. The company is focusing on cost reduction initiatives and expects improved cash flows and planned land monetization to support future growth. Projects at Andhra Cements and Jeerabad are progressing as planned. The 6-stage preheater at Dachepalli plant of Andhra Cements has been commissioned, and a 4.35 MW Waste Heat Recovery project at Gudipadu is expected by end of FY26. Jeerabad capacity expansion is anticipated by early Q1 FY27, and cement capacity addition at Dachepalli by August 2026.
Power and fuel costs were ₹1,408 per tonne, and freight cost was ₹830 per tonne. Gross debt as of December 31, 2025, was ₹1,627 crore, with a debt-equity ratio of 0.78:1. Net worth stood at ₹1,694 crore. The company aims for sustainable and profitable growth by strengthening operational excellence, deepening regional presence, and increasing renewable energy use.
For the full financial year, the company expects to achieve EBITDA per tonne between ₹500 to ₹525. The sale of Vizag land is expected to generate approximately ₹350 crore net of expenses over the next 18 months, with proceeds intended for debt retirement.
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Sagar Cements Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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