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Infomerics Downgrades Deccan Cements' Withdrawn ₹25 Cr NCD Proposal to IVR BB+ (INC)
Credit rating agency Infomerics has revised its rating for Deccan Cements' proposed ₹25 Cr Non-Convertible Debentures (NCDs) to 'IVR BB+/Negative (ISSUER NOT COOPERATING)' from 'IVR BBB-/Negative'. The company clarified that it had already dropped its ₹50 Cr NCD fundraising plan and formally requested withdrawal of the rating exercise on March 30, 2026, following the budget completion of its expansion project. Infomerics proceeded with the review despite the cancellation notice, leading to the 'Issuer Not Cooperating' classification. Since no NCDs were ever issued against this mandate, there is no direct debt servicing or default impact.
Confidence: HIGH
What changedInfomerics downgraded Deccan Cements' proposed ₹25 Cr NCD facility to IVR BB+ (INC) after the company discontinued cooperation following the cancellation of the issue.
Why it mattersNo cash flow or repayment implications exist as the NCD was never issued, though 'Issuer Not Cooperating' tags can optically raise governance queries.
Proposed NCD Mandate: Rs. 25 CroresTotal Planned NCD Amount: Rs. 50 CroresRevised Rating: IVR BB+/Negative (ISSUER NOT COOPERATING*)Earlier Rating: IVR BBB- /Negative (ISSUER NOT COOPERATING*)
📅 Short termLimited market impact expected given the explicit clarification that the debt facility was never tapped.
📈 Long termLimited structural impact from this specific instrument; company fundamentals will depend on operationalizing its completed expansion and reducing overall debt (₹753 Cr).
⚠ Risk flags
- Optics of an 'Issuer Not Cooperating' downgrade
- Elevated company leverage with Debt-to-Equity at 1.00 (Debt: ₹753 Cr, Net Worth: ₹751 Cr)
Key Highlights
Long-term rating revised to 'IVR BB+/Negative (ISSUER NOT COOPERATING*)' from 'IVR BBB-/Negative' on August 20, 2026.
Mandate pertained to a proposed NCD issue of up to ₹25 Cr (out of an earlier planned ₹50 Cr issue).
Company formally communicated withdrawal of the rating mandate on March 30–31, 2026, as the expansion was completed within budget without NCD debt.
Agency proceeded with the review citing lack of information, resulting in the INC tag.
👀 What to Watch
Track total outstanding borrowings (currently ₹753 Cr) and capacity utilization from the newly commissioned expansion in upcoming quarterly disclosures.
Deccan Cements Long-Term Rating Downgraded to CARE BBB; ₹895 Cr Expansion Underway
CARE Ratings has downgraded Deccan Cements' long-term rating from CARE BBB+ to CARE BBB (Stable), while reaffirming the short-term rating at CARE A3+. The downgrade is significant given the company's high leverage, with total debt of ₹753 Cr nearly equal to its net worth of ₹751 Cr. The company is currently committed to a massive ₹895.48 Cr expansion project, which represents approximately 140% of its TTM revenue of ₹636 Cr. This rating action suggests increased perceived risk in the company's ability to service debt during this capital-intensive phase.
Confidence: HIGH
What changedCARE Ratings lowered the company's long-term credit rating by one notch from BBB+ to BBB, while maintaining a stable outlook.
Why it mattersA credit rating downgrade typically increases the cost of borrowing and reflects a deterioration in the company's financial profile, which is critical given its high debt-to-equity ratio of 1.00 and massive ongoing capex.
New Long-term Rating: CARE BBBPrevious Long-term Rating: CARE BBB+Expansion Project Value: ₹895.48 CrExpansion vs TTM Revenue: ~140.8%Debt to Net Worth Ratio: 1.00
📅 Short termThe stock may face downward pressure as the market digests the increased credit risk and potential for higher interest expenses.
📈 Long termThe company's long-term health depends on the successful commissioning and ramp-up of its ₹895 Cr expansion to generate sufficient cash flow to service its ₹753 Cr debt.
⚠ Risk flags
- High leverage (D/E 1.0)
- Execution risk for large-scale expansion
- Potential increase in borrowing costs due to downgrade
Key Highlights
Long-term credit rating downgraded to CARE BBB / Stable from CARE BBB+ on August 7, 2026
Short-term rating reaffirmed at CARE A3+ by CARE Ratings Limited
Company is managing a ₹895.48 Cr capacity expansion project, currently in Capital Work-in-Progress
Total debt of ₹753 Cr is high relative to the ₹770 Cr market capitalization
TTM Net Profit Margin remains thin, having dropped to 1.00% in FY25 before a slight recovery
👀 What to Watch
Investors should monitor the interest coverage ratio in upcoming quarterly results to see if the downgrade leads to higher finance costs. Watch for the commissioning timeline of the ₹895.48 Cr expansion project, as any delays could further strain the balance sheet.
Deccan Cements Reports Q1 Loss of ‹7.39 Cr; Revenue Up 45% YoY to ‹219 Cr
Deccan Cements reported a consolidated net loss of ‹7.39 Cr for Q1 FY27, a sharp reversal from a profit of ‹15.35 Cr in the year-ago period. While revenue grew 45.7% YoY to ‹219.34 Cr, profitability was severely impacted by a 351% surge in finance costs (‹15.67 Cr) and a 132% increase in depreciation (‹15.52 Cr). These costs likely stem from the commissioning or servicing of its ‹895.48 Cr expansion project. The company also recognized an exceptional loss of ‹2.27 Cr related to a regulatory demand for infrastructure cess.
Confidence: HIGH
What changedThe company has transitioned from a profitable entity to a loss-making one this quarter as the financial costs of its massive expansion project have begun hitting the P&L.
Why it mattersWith a Capital Work-in-Progress of ‹895.48 Cr (approx. 140% of TTM revenue), the company is undergoing a massive structural shift. The current loss highlights the 'execution risk' phase where fixed costs rise before the new capacity generates sufficient cash flow.
Revenue (Q1 FY27): ‹219.34 CrNet Loss (Q1 FY27): ‹7.39 CrFinance Cost YoY Increase: 351.6%Expansion CWIP vs Net Worth: 119.2%Exceptional Provision: ‹2.27 CrDividend Record Date: 22 September 2026
📅 Short termThe stock may face pressure due to the unexpected net loss and the sharp rise in interest expenses, which signals a tighter liquidity position.
📈 Long termThe long-term outlook depends on the company's ability to utilize its tripled asset base in the competitive South Indian market to achieve economies of scale and service its ‹753 Cr debt.
⚠ Risk flags
- High interest coverage risk due to 351% surge in finance costs
- Regulatory risk from infrastructure cess demands
- Execution risk on the ‹895 Cr expansion project
Key Highlights
Revenue from operations grew 45.7% YoY to ‹219.34 Cr from ‹150.56 Cr.
Consolidated net loss of ‹7.39 Cr vs a profit of ‹15.35 Cr in Q1 FY26.
Finance costs surged to ‹15.67 Cr, up from ‹3.47 Cr in the same quarter last year.
Exceptional item of ‹2.27 Cr provided for mineral bearing land infrastructure cess demand.
Final dividend record date fixed for September 22, 2026, with payment by October 15, 2026.
👀 What to Watch
Monitor the ramp-up of the new capacity to see if volume growth can offset the significantly higher interest and depreciation burden. Watch for management commentary at the AGM on September 29 regarding the status of the ‹895 Cr expansion project and debt repayment plans.
Deccan Cements Q1 Revenue up 45% to ₹219 Cr; Swings to ₹7.39 Cr Loss; Dividend Record Date Set
Deccan Cements reported a strong 45.7% YoY revenue growth to ₹219.34 Cr for Q1 FY27, yet swung to a net loss of ₹7.39 Cr from a profit of ₹15.35 Cr in the year-ago period. The bottom line was severely impacted by a 351% surge in finance costs (₹15.67 Cr) and a 132% increase in depreciation (₹15.52 Cr), likely tied to its massive ₹895.48 Cr expansion project. The company has fixed September 22, 2026, as the record date for the FY26 final dividend. During the quarter, the company also issued unlisted NCDs and CCDs to bolster its capital structure.
Confidence: HIGH
What changedThe company has transitioned from a profitable entity to a loss-making one this quarter despite higher sales, due to the financial burden of its large-scale expansion.
Why it mattersThe ₹895 Cr expansion is a 'make-or-break' move for the company, as the project cost exceeds its entire market capitalization (₹783 Cr), leading to significant debt and interest pressure.
Q1 Revenue: ₹219.34 CrQ1 Net Loss: ₹7.39 CrFinance Costs: ₹15.67 CrExpansion CWIP vs Market Cap: 114.3%Dividend Record Date: 22-Sep-2026
📅 Short termThe stock may face downward pressure as the market digests the swing to a loss and the high interest outgo, despite the revenue growth.
📈 Long termThe long-term outlook depends on the successful commissioning and scaling of the ₹895 Cr capacity to service the ₹753 Cr debt and improve ROCE from the current 3%.
⚠ Risk flags
- High debt-to-equity ratio (1.0)
- Significant increase in finance costs
- Regional price volatility in South Indian cement market
Key Highlights
Revenue from operations increased 45.7% YoY to ₹219.34 Cr in Q1 FY27.
Reported a net loss of ₹7.39 Cr compared to a profit of ₹15.35 Cr in Q1 FY26.
Finance costs surged to ₹15.67 Cr from ₹3.47 Cr YoY, a 351% increase.
Expansion project in progress (CWIP) stands at ₹895.48 Cr, which is 114% of the current market cap.
Final dividend record date fixed for September 22, 2026, with payment by October 15, 2026.
👀 What to Watch
Investors should closely monitor the utilization rates of the new capacity and the company's ability to pass on costs, as high interest and depreciation are currently eroding margins.
Deccan Cements Q1 Results: Revenue up 46% to ₹219 Cr, but swings to ₹7.39 Cr Net Loss
Deccan Cements reported a 45.7% YoY increase in revenue to ₹219.34 Cr for Q1 FY27. However, the company posted a consolidated net loss of ₹7.39 Cr, a sharp reversal from the ₹15.35 Cr profit in Q1 FY26. This loss is primarily driven by a 351% surge in finance costs to ₹15.67 Cr and a 132% increase in depreciation to ₹15.52 Cr, reflecting the impact of its ₹895.48 Cr expansion project. The company also recognized an exceptional charge of ₹2.27 Cr for a mining cess demand.
Confidence: HIGH
What changedThe company has transitioned from a profitable state to a loss-making one as the financial costs of its ₹895 Cr expansion project have begun to hit the P&L statement.
Why it mattersThe expansion project is massive, representing ~140% of TTM revenue; while it has successfully boosted top-line growth, the current interest and depreciation load is exceeding operating margins, creating a temporary earnings vacuum.
Revenue (Q1 FY27): ₹219.34 CrNet Loss (Q1 FY27): ₹7.39 CrFinance Cost Increase (YoY): 351.6%Expansion CWIP vs TTM Revenue: ~140%Dividend Record Date: 22 September 2026
📅 Short termThe stock is likely to face downward pressure as the market reacts to the swing from profit to loss and the significant increase in fixed financial obligations.
📈 Long termThe long-term outlook depends on the company's ability to utilize its expanded asset base (tripled asset base strategy) to achieve economies of scale and deleverage the balance sheet.
⚠ Risk flags
- High interest coverage risk
- Regulatory risk from mining cess demands
- Regional price volatility in South India
Key Highlights
Revenue from operations grew 45.7% YoY to ₹219.34 Cr from ₹150.56 Cr.
Finance costs surged to ₹15.67 Cr from ₹3.47 Cr in the previous year's quarter.
Depreciation and amortization expenses increased to ₹15.52 Cr from ₹6.68 Cr YoY.
Exceptional item of ₹2.27 Cr provisioned for mineral bearing land infrastructure cess in Telangana.
Record date for final dividend set for September 22, 2026, with payment by October 15, 2026.
👀 What to Watch
Investors should monitor the ramp-up speed of the new capacity to see if incremental EBITDA can offset the ₹31 Cr quarterly combined burden of interest and depreciation. The high debt-to-equity ratio (1.00) and rising finance costs are the primary near-term concerns.
CRISIL downgrades Deccan Cements to 'BB' (INC); Company claims full debt repayment
CRISIL has downgraded Deccan Cements' long-term rating from BBB/Stable to BB/Stable and short-term rating from A3+ to A4+, categorizing the company as 'Issuer Not Cooperating' (INC). The company has formally disputed this action, stating it had already repaid its entire term loans and informed CRISIL on July 6, 2026, prior to the rating release. This development is critical as the company is currently executing a massive Rs 895.48 Cr expansion project, which represents approximately 141% of its TTM revenue. The 'INC' status typically suggests a breakdown in information flow between the company and the rating agency, which may concern lenders despite the company's claims of repayment.
Confidence: HIGH
What changedCRISIL downgraded the company's credit ratings and moved them to the 'Issuer Not Cooperating' category, while the company claims the rated debt has been fully settled.
Why it mattersA downgrade to 'INC' status can increase the cost of future capital and signals potential transparency issues, which is risky for a company with a D/E of 1.00 and a capex project larger than its current market cap.
New Long Term Rating: CRISIL BB / Stable (ISSUER NOT COOPERATING)Previous Long Term Rating: CRISIL BBB / StableExpansion Project Value: ₹ 895.48 CrExpansion vs TTM Revenue: 140.8%Debt-to-Equity Ratio: 1.00
📅 Short termThe 'Issuer Not Cooperating' tag is likely to create negative sentiment and volatility in the stock price over the coming days as the market digests the potential communication gap.
📈 Long termIf the company successfully completes its Rs 895 Cr expansion and proves the debt repayment, the structural growth story remains intact; however, the 'INC' tag must be resolved to maintain institutional trust.
⚠ Risk flags
- Issuer Not Cooperating status
- Dispute with Credit Rating Agency
- High capital expenditure relative to market cap
- Declining net profit margins (5% to 1% in FY25)
Key Highlights
Long-term rating downgraded from CRISIL BBB/Stable to CRISIL BB/Stable (ISSUER NOT COOPERATING) on July 6, 2026.
Short-term rating downgraded from CRISIL A3+ to CRISIL A4+ (ISSUER NOT COOPERATING).
Company claims to have paid the entire Term Loans to respective banks as of July 6, 2026.
The previous rating action was an upgrade on July 31, 2025.
Company is currently managing a Capital Work-in-Progress (CWIP) of Rs 895.48 Cr for capacity expansion.
👀 What to Watch
Investors should monitor for a 'Rating Withdrawal' or a revised rationale from CRISIL that acknowledges the debt repayment. Verification of the 'Zero Term Loan' status in the next quarterly filing will be crucial to validate management's claims.
Deccan Cements Allots CCDs and NCDs Worth INR 660 Crores via Preferential Issue
Deccan Cements Limited has successfully allotted securities totaling approximately INR 660 crores to raise capital. The fundraise includes INR 103 crores through Compulsorily Convertible Debentures (CCDs) and INR 557 crores through two series of Non-Convertible Debentures (NCDs). Specifically, the company allotted 14.4 lakh CCDs at INR 715 each and 55,700 NCDs with a face value of INR 1 lakh each. This substantial capital injection follows a board approval from May 2026 and marks a significant step in the company's financial strategy.
Key Highlights
Allotted 14,40,559 CCDs at INR 715 each, aggregating to INR 102.99 crores
Issued 15,000 Series A NCDs and 40,700 Series B NCDs, totaling INR 557 crores
Total capital raised through this preferential issue amounts to approximately INR 659.99 crores
The CCDs are compulsorily convertible, which will lead to equity dilution in the future
👀 What to Watch
Investors should monitor the company's debt-to-equity ratio following this large NCD issuance and look for clarity on how these funds will be utilized for growth or debt refinancing. The conversion of CCDs will eventually dilute existing shareholding, which needs to be factored into long-term valuation.
Deccan Cements Shareholders Approve ₹103 Crore CCD Issuance at ₹715 per Share
Deccan Cements Limited has received shareholder approval to raise up to ₹103 crore through the issuance of 14,40,559 Compulsorily Convertible Debentures (CCDs) on a preferential basis. The CCDs are priced at ₹715 each and will be converted into equity shares at a 1:1 ratio within 18 months. The primary objective of this fundraise is to repay existing term loans and related liabilities, which is expected to strengthen the company's balance sheet. The resolution was passed with an overwhelming majority, with 99.99% of votes cast in favor.
Key Highlights
Approved issuance of up to 14,40,559 Compulsorily Convertible Debentures (CCDs) to raise ₹103 crore.
CCDs are priced at ₹715 per unit, representing a significant premium over the ₹5 face value.
Proceeds earmarked for the repayment of existing term loans and associated liabilities.
CCDs will be converted into equity shares within a maximum period of 18 months from allotment.
The special resolution passed with 99.9977% of valid votes in favor via postal ballot.
👀 What to Watch
Investors should monitor the reduction in interest costs following the debt repayment. While the conversion will lead to equity dilution in the future, the immediate deleveraging of the balance sheet is a positive signal for long-term stability.
Deccan Cements FY26 PAT Jumps to ₹28.59 Cr; Declares ₹0.50 Dividend & Appoints New Auditors
Deccan Cements reported a strong financial performance for FY26, with annual revenue growing 20.6% to ₹635.61 crore. Net profit surged to ₹28.59 crore from ₹7.53 crore in the previous year, significantly bolstered by a ₹12.84 crore exceptional gain from land disposal. The board has recommended a dividend of ₹0.50 per share and appointed new cost and internal auditors for the upcoming fiscal year. Notably, the company highlighted that current profits are inadequate to cover the Chairperson's remuneration under standard regulatory limits, necessitating shareholder approval.
Key Highlights
Annual Revenue from operations increased to ₹635.61 crore in FY26 from ₹526.98 crore in FY25.
Net Profit for the year stood at ₹28.59 crore, aided by a ₹12.84 crore exceptional profit from land sale.
Board recommended a final dividend of ₹0.50 (10%) per equity share of ₹5 face value.
Finance costs more than doubled to ₹27.28 crore compared to ₹12.75 crore in the previous year.
Appointed M/s Aruna Prasad & Co as Cost Auditors and M/s M Bhaskara Rao & Co as Internal Auditors for FY27.
👀 What to Watch
Investors should view the revenue growth positively but remain cautious as a significant portion of the profit surge came from a one-time land sale. Monitor the rising finance costs and the company's ability to improve operational margins in the cement segment.
Deccan Cements Recommends ₹0.50 Dividend; FY26 Net Profit Surges to ₹28.59 Crore
Deccan Cements Limited reported a strong financial performance for FY26, with revenue from operations growing 20.6% to ₹635.61 crore compared to ₹526.98 crore in FY25. The company's net profit saw a significant jump to ₹28.59 crore from ₹7.53 crore in the previous year, bolstered by an exceptional gain of ₹12.84 crore from a land sale. Consequently, the Board has recommended a final dividend of ₹0.50 per equity share (10% of face value). The annual EPS improved remarkably to ₹20.41 from ₹5.38 year-on-year.
Key Highlights
Recommended a final dividend of ₹0.50 per equity share (10% of face value) for the financial year 2025-26.
Annual revenue from operations increased to ₹635.61 crore, up from ₹526.98 crore in the previous fiscal year.
Net profit for FY26 surged to ₹28.59 crore, a significant increase from ₹7.53 crore in FY25.
Recognized an exceptional gain of ₹1,284.07 lakhs from the disposal of land in Rangareddy district during Q4.
Basic and Diluted Earnings Per Share (EPS) rose to ₹20.41 for FY26 compared to ₹5.38 in FY25.
👀 What to Watch
Investors should view the substantial profit growth and dividend recommendation positively, though they should note that a portion of the profit came from a one-time land sale. The stock remains a steady play in the cement sector with improved operational scale.
Deccan Cements FY26 Net Profit Surges 280% to ₹28.59 Cr; Proposes ₹0.50 Dividend
Deccan Cements reported a strong financial performance for FY26, with annual net profit jumping nearly 280% to ₹2,859.12 lakhs compared to ₹753.30 lakhs in FY25. Revenue from operations grew by 20.6% YoY to ₹63,561.42 lakhs. The results were bolstered by an exceptional gain of ₹1,284.07 lakhs from a land sale. Crucially, the company capitalized approximately ₹805 crore from Capital Work-in-Progress into Property, Plant, and Equipment, signaling the completion of a major expansion phase.
Key Highlights
Annual Revenue from Operations increased 20.6% YoY to ₹635.61 crore.
Full-year Net Profit surged to ₹28.59 crore, up from ₹7.53 crore in the previous fiscal.
Exceptional gain of ₹12.84 crore realized from the disposal of land in Rangareddy district.
Board recommended a final dividend of ₹0.50 per equity share (10% of face value).
Major capacity commissioning evidenced by the transfer of ₹805.38 crore from CWIP to Fixed Assets.
👀 What to Watch
The massive jump in fixed assets suggests new capacity is coming online, which should drive volume growth in FY27. Investors should monitor if the increased revenue can offset the rising finance costs and freight expenses seen this year.
Deccan Cements to Raise ₹103 Crore via CCDs for Debt Repayment
Deccan Cements has issued a corrigendum to its postal ballot notice regarding a fundraise of approximately ₹103 crore through the issuance of 14,40,559 Compulsorily Convertible Debentures (CCDs). The CCDs are priced at ₹715 each and will be issued to non-promoters. The entire proceeds are earmarked for the repayment of secured term loans from State Bank of India, which currently have an outstanding balance of ₹330.91 crore. This strategic move is intended to reduce the company's interest burden and improve its debt-to-equity profile.
Key Highlights
Raising ₹102,99,99,685 through the issuance of 14,40,559 CCDs at ₹715 per unit
Proceeds to be used for repayment of SBI term loans with an outstanding amount of ₹330.91 crore
The existing term loan carries an interest rate of 8.5% per annum
Fund utilization timeline set for completion on or before July 31, 2026
CARE Ratings Limited appointed as the Monitoring Agency to oversee fund utilization
👀 What to Watch
Investors should monitor the debt reduction progress as it will likely improve the company's net profit margins by lowering interest costs. However, be mindful of the eventual equity dilution when these CCDs are converted into shares.
Deccan Cements to raise ₹103 Crores via Preferential Issue of 14.4 Lakh CCDs at ₹715 each
Deccan Cements Limited has issued a postal ballot notice to seek shareholder approval for raising up to ₹103 crores. The company plans to issue 14,40,559 Compulsorily Convertible Debentures (CCDs) at a price of ₹715 per unit to non-promoter investors. These CCDs will be converted into equity shares at a 1:1 ratio within 18 months from the date of allotment. The voting process for shareholders concludes on June 13, 2026, with results to be declared by June 14, 2026.
Key Highlights
Proposed fundraise of up to ₹103 crores through private placement of CCDs
Issuance of 14,40,559 CCDs at a fixed price of ₹715 per unit
CCDs to be converted into equity shares (Face Value ₹5) within a maximum period of 18 months
Conversion price of ₹715 includes a premium of ₹710 per equity share
Relevant date for pricing determination set as May 14, 2026
👀 What to Watch
Investors should monitor the specific end-use of the ₹103 crore capital, as it could signal expansion or modernization plans. While the fundraise is positive for growth, be mindful of the eventual equity dilution that will occur upon conversion of the CCDs.
Deccan Cements to raise ₹660 Crore via NCDs and CCDs for debt refinancing
Deccan Cements has approved a fundraising plan of ₹660 Crores to repay its outstanding term loans and related liabilities. The capital will be raised through a combination of ₹557 Crores in Non-Convertible Debentures (NCDs) and ₹103 Crores in Compulsorily Convertible Debentures (CCDs). The CCDs are being issued to Neo Credit Opportunities Funds at a price of ₹715 per share, which will lead to equity dilution upon conversion within 18 months. This debt restructuring move aims to extend the company's repayment profile over a 72-month tenor.
Key Highlights
Total fundraising of ₹660 Crores approved primarily for debt repayment and liability management.
₹557 Crores to be raised via NCDs with a 6-year tenor and tiered interest rates from 8% to 12% p.a.
₹103 Crores CCD issuance to Neo Funds at ₹715 per share, convertible 1:1 into equity shares.
NCD redemption is back-loaded with 70% of the principal to be repaid in the 5th and 6th years.
Postal ballot process initiated for shareholder approval, with results expected by June 14, 2026.
👀 What to Watch
Investors should monitor the company's ability to improve operational cash flows to meet the rising interest obligations, which reach 12% by the third year. The conversion price of ₹715 for CCDs serves as a key valuation benchmark for the equity dilution expected within 18 months.
Deccan Cements Q3 Results: Swings to Net Loss of ₹55 Lakhs Amid Rising Power Costs
Deccan Cements reported a consolidated net loss of ₹55.76 lakhs for the quarter ended December 31, 2025, compared to a profit of ₹906.67 lakhs in the previous quarter. While revenue from operations grew 13.3% year-on-year to ₹13,085 lakhs, it declined 6.7% on a sequential basis. The performance was primarily dragged down by a 28% sequential spike in power and fuel expenses and a 68% increase in finance costs. The company also recognized expenses related to the implementation of new labor codes during the quarter.
Key Highlights
Consolidated Revenue from Operations stood at ₹13,085.02 lakhs, up 13.3% YoY but down 6.7% QoQ.
Reported a consolidated Net Loss of ₹55.76 lakhs against a profit of ₹80.89 lakhs in the year-ago period.
Power and Fuel expenses surged to ₹5,170.92 lakhs from ₹4,027.46 lakhs in the preceding quarter.
Finance costs increased significantly to ₹550.41 lakhs from ₹326.51 lakhs in Q2 FY26.
Earnings Per Share (EPS) turned negative at ₹(0.40) for the quarter.
👀 What to Watch
Investors should exercise caution as the company has swung into a loss despite revenue growth, indicating severe margin pressure from energy costs. Monitor the company's ability to pass on these costs through cement price hikes in the coming quarters.
Deccan Cements Q3 FY26 Results: Swings to Net Loss of ₹55.76 Lakhs as Power Costs Surge
Deccan Cements reported a consolidated net loss of ₹55.76 Lakhs for the quarter ended December 31, 2025, a sharp decline from a profit of ₹80.89 Lakhs in the year-ago period. While revenue from operations grew 13.3% YoY to ₹13,085.02 Lakhs, it witnessed a sequential decline of 6.7%. The performance was primarily dragged down by a significant spike in power and fuel expenses, which rose to ₹5,170.92 Lakhs from ₹4,027.46 Lakhs in the previous quarter. Additionally, the company recognized financial impacts related to the implementation of new Labour Codes during this period.
Key Highlights
Consolidated Revenue from operations stood at ₹13,085.02 Lakhs, up 13.3% YoY but down 6.7% QoQ.
Reported a consolidated net loss of ₹55.76 Lakhs compared to a profit of ₹906.67 Lakhs in Q2 FY26.
Power and fuel costs surged 28.4% sequentially to ₹5,170.92 Lakhs.
Finance costs increased to ₹550.41 Lakhs from ₹326.51 Lakhs in the preceding quarter.
Earnings Per Share (EPS) turned negative at ₹(0.40) for the quarter.
👀 What to Watch
Investors should exercise caution as the company has swung into a loss due to escalating operational costs and higher finance charges. It is critical to monitor if the company can improve its margin profile or pass on these increased costs in a competitive cement market.
Deccan Cements Commences Commercial Production of Line-3; Total Capacity Reaches 4.00 MTPA
Deccan Cements Limited has successfully commissioned its Line-3 Cement Plant, with commercial production starting on December 15, 2025. This expansion significantly increases the company's total cement production capacity to 4.00 million tonnes per annum (MTPA). The completion of this project signifies a shift from capital expenditure to operational revenue generation. This move is expected to enhance the company's market presence and volume growth in the medium term.
Key Highlights
Commercial production of Line-3 Cement Plant commenced on December 15, 2025.
Total cement production capacity has reached 4.00 Million Tonnes per annum (MTPA).
The project was completed and commissioned successfully as per the regulatory disclosure.
Expansion is expected to drive volume growth and improve market positioning.
👀 What to Watch
Investors should track the capacity utilization rates of the new line and its impact on the company's top-line growth and margins in future earnings reports.
