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BSE LIVE NSE LIVE 26 Aug, 2025 12:21 Volume Todays L/H More ×

Motilal Oswal's research report on The Ramco Cements

The Ramco Cements’ (TRCL) 2QFY26 EBITDA grew 24% YoY to INR3.9b (12% beat), led by higher-than-estimated volume (5% beat) and lower-than estimated opex/t. EBITDA/t rose 22% YoY (down 12% QoQ) to INR851 (6% beat). Adj PAT surged 191% YoY to INR743m (55% beat), albeit on a low base. Management indicated that muted volume growth was due to early monsoons, excess rainfall, and run-up to GST 2.0. The construction chemicals business, however, registered strong performance, with sales volume up ~72% YoY on a low base. TRCL has reiterated its target to reach 30mtpa cement capacity by Mar’26 through the commission

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