Board approves Q2 FY27 results: Profit after tax ₹32 crore, auditor's limited review has no qualification
Board meeting on October 22, 2026 approved the unaudited financial results for the quarter and half year ended September 30, 2026.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 565 | 643 | −12.1% | 604 | −6.5% |
| Total income | 578 | 655 | −11.8% | 609 | −5.1% |
| Profit before tax | 44 | 74 | −40.5% | 103 | −57.3% |
| Profit after tax | 32 | 49 | −34.7% | 77 | −58.4% |
| Total comprehensive income | 34 | 50 | −32% | 77 | −55.8% |
| Basic EPS | 1.56 | 2.39 | −34.7% | 3.76 | −58.5% |
- Total income YoY change
- 655 (−11.8%)
- Profit after tax YoY change
- 49 (−34.7%)
- Period
- 3 months ended 30-09-2026
Auditor's review
Conclusion: Unmodified
Notes to the results
- Scheme of Amalgamation of the Company into Ambuja Cements (33 shares of ₹2 for every 100 of ₹1) approved by shareholders Sept 28, 2026; NCLT hearing fixed for November 19, 2026.
- Labour Codes impact of ₹6 Crore recognised as exceptional item in FY ended March 31, 2026; final Central Rules have no material financial impact.
- Company gave ICDs aggregating ₹512 Crore (incl. ₹62 Crore net in the quarter) to holding company Ambuja Cements at 8% p.a., repayable by March 31, 2027.
- Depreciation for quarter ended Sept 30, 2025 and FY ended March 31, 2026 was higher by ₹63 Crore due to change in estimates of useful life of PPE.
What the board approved
Orient Cement's board met on October 22, 2026 and approved the unaudited financial results for the quarter and half year ended September 30, 2026. The numbers below are the Company's own (standalone) figures, stated in ₹ crore.
Auditor's review conclusion
G. K. Choksi & Co., Chartered Accountants, carried out a limited review rather than a full audit. Their conclusion: nothing has come to their attention that causes them to believe the statement contains any material misstatement or has not disclosed what Regulation 33 requires. There is no qualification.
Q2 FY27 (July to September 2026)
- Revenue from operations: ₹565 crore
- Total income: ₹578 crore
- Total expenses: ₹534 crore
- Profit before tax: ₹44 crore
- Total tax expense: ₹12 crore
- Profit after tax: ₹32 crore
- Earnings per share (basic and diluted): ₹1.56
How the quarter compares
- Revenue from operations: ₹604 crore in the preceding quarter and ₹643 crore in the same quarter last year
- Profit after tax: ₹77 crore in the preceding quarter and ₹49 crore in the same quarter last year
Both revenue and profit are lower than the preceding quarter and the same quarter a year earlier.
Half year (April to September 2026)
- Revenue from operations: ₹1,169 crore, against ₹1,510 crore a year earlier
- Profit after tax: ₹109 crore, against ₹254 crore a year earlier
- Earnings per share: ₹5.31, against ₹12.38 a year earlier
Cost lines in Q2 FY27
- Power and fuel: ₹201 crore
- Cost of materials consumed: ₹174 crore
- Depreciation and amortisation: ₹43 crore
- Finance costs: ₹1 crore
Balance sheet (September 30, 2026 unaudited vs March 31, 2026 audited)
- Total assets: ₹3,165 crore vs ₹3,133 crore
- Total equity: ₹2,247 crore vs ₹2,146 crore
- Non-current borrowings: ₹40 crore vs ₹38 crore
- Cash and cash equivalents: ₹5 crore vs ₹16 crore
Ownership and the amalgamation scheme
- The acquirer acquired 9,58,73,163 equity shares (46.66%) of the Company on April 22, 2025 and took over operational and financial control from that date; the Company became its subsidiary.
- An open offer for 5,34,19,567 equity shares (26.00%) at ₹395.40 per share was completed on June 18, 2025, taking the acquirer's total holding to 14,92,92,730 equity shares (72.66%).
- The board had approved a Scheme of Amalgamation between the Company and the acquirer with an appointed date of May 1, 2025. On the scheme becoming effective, shareholders of the Company (other than the acquirer) will be issued 33 equity shares of face value ₹2 each of the acquirer for every 100 equity shares of face value ₹1 each held.
Other notes
- The Company operates in a single reportable segment: manufacture and sale of cement.
- 349,976 fully paid equity shares of ₹1 each were allotted on April 7, 2025 under the Orient Cement Limited Employees Stock Option Scheme 2015.
- In the previous year ended March 31, 2026, the Company opted for the reduced corporate tax rate under Section 115BAA, leading to a reversal of ₹81 crore of net deferred tax liability and a reversal of ₹17 crore of excess income tax provision created for financial year 2024-25.
- Depreciation for the quarter and year ended March 31, 2026 was higher by ₹63 crore after a reassessment of the useful life and residual value of plant and equipment and the depreciation method for the power plant.
What this means for a retail holder
Results releases are the main way to track a cement maker's selling prices, volumes and input costs such as power and fuel. This quarter's Profit after tax of ₹32 crore is lower than both the preceding quarter and the same quarter last year. The swap ratio of 33 shares for every 100 held matters because, if the scheme becomes effective, shareholders would receive shares of the acquirer instead of their current shares.
Also from Orient Cement
Orient Cement Ltd: shareholder discloses a shareholding transaction
24 Oct 2026
Orient Cement schedules investor/analyst call on Oct 29, 2026 for Q2/H1FY27 results; board meeting Oct 22
8 Oct 2026
Board meeting on October 22, 2026 to consider and approve Q2 and H1 FY27 unaudited results
8 Oct 2026
More numbers
- Revenue from operations – H1 FY27 (₹ crore)1,169
- Profit after tax – H1 FY27 (₹ crore)109
- Open offer price per equity share₹ 395.40/-
- Acquirer's total shareholding in the Company72.66%
- Total income, latest quarter578 (₹ in crore)
- Total income, year-ago quarter655 (₹ in crore)
- Total income, previous quarter609 (₹ in crore)
- Total comprehensive income, latest quarter34 (₹ in crore)
- Total comprehensive income, year-ago quarter50 (₹ in crore)
- Total comprehensive income, previous quarter77 (₹ in crore)
- Profit after tax, latest quarter32 (₹ in crore)
- Profit after tax, year-ago quarter49 (₹ in crore)
- Profit after tax, previous quarter77 (₹ in crore)
- Revenue from operations, latest quarter565 (₹ in crore)
- Revenue from operations, year-ago quarter643 (₹ in crore)
- Revenue from operations, previous quarter604 (₹ in crore)
- Profit before tax, latest quarter44 (₹ in crore)
- Profit before tax, year-ago quarter74 (₹ in crore)
- Profit before tax, previous quarter103 (₹ in crore)
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