India Cements Reports Q3 profit of ₹ 62 crore, revenue stood at ₹ 1,160 crore

India Cements reported standalone net profit at ₹ 62 crore against ₹ 5.4 crore loss (YoY). The company’s standalone revenue dropped by 2.6 percent at ₹ 1,160 crore against ₹ 1,191.1 crore (YoY).

Standalone EBITDA rose 67.3 percent at ₹ 215 crore against ₹ 128.7 crore (YoY) while EBITDA margin stood at 18.6 percent against 10.8 percent (YoY).


The stock was trading at ₹ 168.40, down ₹ 0.45, or 0.27 percent at 12:05 hours. It has touched an intraday high of ₹ 173.80 and an intraday low of ₹ 167.

The stock has been in focus after ace investor and owner of supermarket chain D-Mart, Radhakisan Damani raised stakes in the cement maker. He has been piling on the shares of India Cements for almost a year now. His individual stake in the company stood over 11 percent in December 2020 against over 10 percent in September 2020.

As of September 2020, Damani family owned a combined stake of 20.4 percent in the cement maker. According to exchange data, it has now increased to 21.14 percent.

The Board of Directors of the company, at its meeting held on January 27, 2021 appointed Krishnan Skandan as a Non-executive Independent Director of the Company for a period of three consecutive years with effect from January 27, 2021, subject to the approval of shareholders, it said in an exchange filing.