Orient Cement Limited — Q1FY27 earnings call summary

Filed 28 July 2026 · Company audio recording

Prolonged monsoon and delayed Telangana projects dampening demand in key southern markets.
Pricing pass-through constrained by weak demand in southern markets; management hopeful of price recovery post-monsoon (Q3 onwards).
Debt-equity target ≤1.5x and net debt/EBITDA ≤3x to be maintained; equity infusion or staggered capex possible to manage balance sheet.
Capex for FY23 expected below earlier guidance of ₹800 cr, likely ₹500-600 cr; final capex guidance pending clarity on Rajasthan project.
Devapur clinker expansion deferred; grinding unit at Tiroda pending key approvals, likely 6-month delay beyond FY24 target.
Blended realization rose modestly ~2% YoY; pricing power limited by regional demand softness.
Land acquisition challenges and regulatory approvals could delay Rajasthan greenfield project start.
Q1 EBITDA/t fell 45% YoY to ₹750 due to 20% YoY cost inflation, mainly power & fuel (+₹640/t).