India Cements’ board has approved the standalone and consolidated unaudited financial results for the quarter and nine months ended December 31, 2025. Standalone revenue from operations stood at ₹1,114.13 crores for Q3 2026. The board also approved the sale of its stake in Industrial Chemicals & Monomers Ltd (ICML). Key financial data reflects a challenging quarter, with a net loss, amidst strategic business realignments. The company’s performance is also affected by ongoing regulatory and legal matters.
Financial Performance Overview
India Cements reported its financial results for the third quarter (Q3) of fiscal year 2026, ending on December 31, 2025. The board of directors officially approved these results on January 23, 2026. Key highlights from the standalone results include:
- Revenue from Operations: ₹1,114.13 crores
- Other Income: ₹25.75 crores
- Total Income: ₹1,139.88 crores
However, the company reported a net loss for the period. Detailed figures are available on the company website.
Sale of ICML Stake
The company has approved the sale of its entire equity stake in its subsidiary, Industrial Chemicals & Monomers Ltd (ICML) on June 21, 2025, for a total consideration of ₹97.68 crores. The investment in ICML was previously carried at a cost of ₹0.36 crores. The gain arising from the sale of the investment will be recognized upon completion of the transaction.
Subsidiary and Associate Updates
During December 2025, PT Coromandel Minerals Resources, Indonesia, and Raasi Minerals Pte. Limited, Singapore, sold their entire equity investment in PT Adcoal Energindo, Indonesia. Consequently, PT Adcoal ceased to be a subsidiary of India Cements. Also, PT Mitra Setia Tanah Bumbu, Indonesia, ceased to be an associate of the company.
Key Financial Ratios and Compliance
Several key financial ratios were disclosed as part of the financial results, providing insights into the company’s financial health and operational efficiency:
- Debt-Equity Ratio: 0.12 times
- Long-Term Debt to Working Capital: (2.46) times
- Total Debts to Total Assets Ratio: 8.90%
- Debt Service Coverage Ratio: 2.33 times
- Interest Service Coverage Ratio: 3.20 times
- Current Ratio: 0.84 times
Ongoing Legal and Regulatory Matters
The company continues to address certain legacy legal and regulatory challenges. These include an attachment of certain assets by a statutory authority and a penalty imposed by the Competition Commission of India (CCI). India Cements is actively pursuing legal remedies and believes it has strong grounds to defend its position in these matters.
Source: BSE
