Board approves unaudited Q2 FY27 results; auditor's conclusion unmodified
Board met Oct 22, 2026, approved unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026, with limited review reports.
By ScoutQuest · · 2 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 2,789.97 | 2,457.57 | +13.5% | 3,128.71 | −10.8% |
| Total income | 2,792.80 | 2,461.45 | +13.5% | 3,132.32 | −10.8% |
| Profit before tax | 108.00 | 51.18 | +111% | 276.02 | −60.9% |
| Profit after tax | 64.79 | 36.43 | +77.8% | 159.63 | −59.4% |
| Total comprehensive income | 64.05 | 35.81 | +78.9% | 157.98 | −59.5% |
| Basic EPS | 1.81 | 1.02 | +77.5% | 4.47 | −59.5% |
- Profit after tax YoY growth
- +77.8%
- Period
- Three months ended September 30, 2026
Auditor's review
Conclusion: Unmodified
Notes to the results
- CCI penalty of ₹ 490.00 crores (Aug 2016) under appeal before Supreme Court; indemnified by erstwhile promoter under SPA, so no provision considered necessary.
- West Bengal incentive claims: gross outstanding ₹ 427.14 crores (Holding Co) and ₹ 300.44 crores (subsidiary); ECL provision of ₹ 256.84 crores and ₹ 197.09 crores as on Sept 30, 2026.
- Exceptional item of ₹ 48.13 crore in FY ended March 31, 2026: additional ECL provision of ₹ 18.62 crores and ₹ 29.51 crores on West Bengal incentives.
- Vadraj Cement Limited commissioned 2 MTPA cement grinding operations at its Limla plant, Surat (Gujarat) during the quarter.
What the board approved
The board of directors met on October 22, 2026, from 5:40 p.m. to 6:40 p.m., and approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, along with the limited review reports. The results are also being made available on the company's website.
Auditor's review conclusion
Walker Chandiok & Co LLP reviewed the consolidated statement. Its conclusion is unmodified: nothing came to its attention that causes it to believe the statement contains any material misstatement or has not disclosed information required under Regulation 33.
- The Group's share of profit/loss of the one joint venture, Wardha Vaalley Coal Field Private Limited, was Nil; that entity's interim result was reviewed by another auditor and the conclusion is not modified on this account.
- The Group's share of profit/loss of the one associate, AMPIN Energy Green (C&I) Two Private Limited, was Nil; its interim financial information was not reviewed by its auditors and was certified by management. The conclusion is not modified on this account either.
Headline consolidated numbers (Rs. in crore)
- Revenue from operations: 2,789.97 in the quarter ended September 30, 2026, against 2,457.57 in the quarter ended September 30, 2025.
- Profit after tax: 64.79 against 36.43 in the same comparison.
- For the six months ended September 30, 2026, Revenue from operations was 5,918.68 and Profit after tax 224.42.
The statement covers the holding company plus its subsidiaries, a step-down subsidiary, one joint venture and one associate.
Other decisions and disclosures
- Vardraj Cement Limited, a wholly owned subsidiary, commissioned cement grinding operations of 2 million metric tonnes per annum at its Limla cement plant, Surat, Gujarat, during the quarter.
- The company reassessed the estimated useful life of "Trademarks" recognised on the acquisition of NU Vista Limited (erstwhile Emami Cement Limited); the balance written-down value of those trademarks is being amortised over the revised remaining useful life from the date of change.
- A Competition Commission of India levy of ₹ 490.00 crores on the holding company remains under appeal, which is pending before the Supreme Court. The company has not considered a provision necessary, and states it is indemnified by the erstwhile promoter group for this liability, an obligation the erstwhile promoter has disputed.
How to read this
- A limited review is narrower than a full audit. The auditor gives comfort that nothing material came to light; it is not a full audit opinion on the numbers.
- Consolidated figures combine the listed company with its subsidiaries, joint venture and associate, so they are broader than the standalone numbers of the company alone.
- The capacity addition and the profit figures are factual disclosures from the update; how they affect the business over time depends on demand and costs, which the update does not forecast.
Also from Nuvoco Vistas Corporation
Nuvoco Vistas makes audio recording of Q2/H1 FY27 investor and analyst conference call held October 23, 2026 available
23 Oct 2026
Nuvoco Vistas Q2 FY27: volume up 9%, EBITDA up 11%, capacity heading to 35 MMTPA
23 Oct 2026
Nuvoco reported good numbers but the stock opened in the red on sustainability concerns
23 Oct 2026
More numbers
- Revenue from operations, consolidated, six months ended Sept 30, 20265,918.68
- Profit after tax, consolidated, six months ended Sept 30, 2026224.42
- CCI levy on the holding company (appeal pending)₹ 490.00 crores
- Grinding capacity commissioned at Limla plant, Surat2 million metric tonnes per annum
- Total income, latest quarter2,792.80 (₹ in crore)
- Total income, year-ago quarter2,461.45 (₹ in crore)
- Total income, previous quarter3,132.32 (₹ in crore)
- Total comprehensive income, latest quarter64.05 (₹ in crore)
- Total comprehensive income, year-ago quarter35.81 (₹ in crore)
- Total comprehensive income, previous quarter157.98 (₹ in crore)
- Profit after tax, latest quarter64.79 (₹ in crore)
- Profit after tax, year-ago quarter36.43 (₹ in crore)
- Profit after tax, previous quarter159.63 (₹ in crore)
- Revenue from operations, latest quarter2,789.97 (₹ in crore)
- Revenue from operations, year-ago quarter2,457.57 (₹ in crore)
- Revenue from operations, previous quarter3,128.71 (₹ in crore)
- Profit before tax, latest quarter108.00 (₹ in crore)
- Profit before tax, year-ago quarter51.18 (₹ in crore)
- Profit before tax, previous quarter276.02 (₹ in crore)
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.