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Andhra Cements Limited (ACL)

₹38.70 -0.44% last close, 16 Oct

📊 NSE: ACL 🏢 Cement - South India 📢 Latest filing: 06 Oct 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Andhra Cements' revenue was ₹142 Cr (+42.2% year on year, -8.3% on the previous quarter), and net profit ₹-35.9 Cr (a bigger loss than a year earlier); the operating margin was 2.6%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹142	+42.2%	-8.3%
Operating profit	₹3.7	-46.6%	-58.4%
Net profit	₹-35.9	loss widened	to loss
EPS (₹)	-3.90	loss widened	to loss
Operating margin	2.6%	—	—

Full quarterly financials → Results calendar →

ACL delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 80.2% of the ACL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 73.82%. That is close to its usual level. Turnover was only ₹4 lakh, so a handful of trades can move this figure.

80.2%Delivery, 16 Oct

73.82%Own 20-session average

0.7×Volume vs its average

₹38.70NSE close · -0.44%

Delivery in the last 5 sessions: 60.3% · 75.9% · 85.6% · 74.5% · 80.2%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Andhra Cements Submits Regulation 74(5) Demat Compliance Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 06 Oct 2026, 11:53 AM

Andhra Cements Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate from RTA CIL Securities Ltd. confirms that share certificates received for dematerialisation during the period were confirmed, mutilated, and cancelled as required. This is a recurring regulatory filing confirming ordinary depository operations. It carries no financial impact on the company's performance or operations.

Filing confirms compliance under Regulation 74(5) for the quarter ended September 30, 2026.
Certificate received from Registrar and Share Transfer Agent, CIL Securities Ltd., dated October 5, 2026.
Confirms dematerialised securities were properly processed, cancelled, and substituted in the register within stipulated timelines.

💡 No action is required as this is a standard quarterly administrative filing; investors should track upcoming Q2 FY27 earnings results instead.

Andhra Cements Expands Durga Works Grinding Capacity to 3.00 MTPA from 1.82 MTPA

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 28 Sep 2026, 05:56 PM

Andhra Cements Limited has successfully completed and commenced commercial operations for its cement grinding capacity expansion at Durga Cement Works in Dachepalli, Andhra Pradesh. The facility's grinding capacity has increased from 1.82 MTPA to 3.00 MTPA, representing an addition of 1.18 MTPA (+64.8%). The company had previously initiated this expansion program as communicated on January 24, 2024.

Cement grinding capacity expanded from 1.82 MTPA to 3.00 MTPA
Net capacity addition of 1.18 MTPA (+64.8% increase)
Commercial operations commenced at Durga Cement Works Plant, Dachepalli, Andhra Pradesh
Follows initial corporate update dated January 24, 2024

💡 Monitor upcoming quarterly production volumes and revenue ramp-up to gauge capacity utilization and margin contribution from the newly commissioned capacity.

Andhra Cements Q1 Loss Widens to ₹35.93 Cr; Revenue Up 43% YoY; Merger with Parent Progressing

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 27 Jul 2026, 01:55 PM

Andhra Cements Limited (ACL) reported a 42.8% YoY increase in revenue to ₹142.17 cr for Q1 FY27, yet net losses widened to ₹35.93 cr from ₹29.62 cr in the year-ago period. The company continues to struggle with high operational costs, specifically power and fuel (₹49.14 cr) and finance costs (₹31.94 cr), which together exceed 57% of total income. A critical structural update is the ongoing merger process with its parent, Sagar Cements Limited, which was approved by the board in June 2026. The company also successfully met Minimum Public Shareholding (MPS) norms as the parent stake reduced to 75%.

Revenue from operations increased 42.8% YoY to ₹142.17 cr from ₹99.53 cr.
Net loss for the quarter widened to ₹35.93 cr compared to a loss of ₹29.62 cr in Q1 FY26.
Finance costs surged 55.5% YoY to ₹31.94 cr, highlighting the heavy debt burden of ₹1127 cr.
Power and fuel expenses rose to ₹49.14 cr, accounting for 34.5% of total revenue.
Parent company Sagar Cements reduced its holding from 90% to 75% via OFS to comply with MPS norms.

💡 Investors should focus on the regulatory approval timeline for the merger with Sagar Cements Limited, as ACL's standalone financial health remains precarious with a D/E ratio of 13.91.

Andhra Cements Submits Quarterly Compliance Certificate for June 30, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 09 Jul 2026, 04:36 PM

Andhra Cements Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The document, issued by the Registrar and Share Transfer Agent (RTA) CIL Securities Ltd, confirms that share certificates received for dematerialization during the quarter ended June 30, 2026, were processed correctly. The RTA verified that physical certificates were mutilated and cancelled, and the depository's name was updated in the register of members. This is a standard administrative filing required for all listed entities.

Compliance certificate issued for the quarter ended June 30, 2026
Confirmation provided by RTA CIL Securities Ltd on July 9, 2026
Physical security certificates received for dematerialization were mutilated and cancelled after verification
Register of Members updated with Depository names within the stipulated time period

💡 This is a routine regulatory filing. Investors should monitor the company's upcoming quarterly financial results for actual business performance updates.

India Ratings assigns 'IND BBB/Stable' to Rs 938.97 Cr bank facilities

🟡 NEUTRAL ⭐ 6/10

REGULATORY 📅 03 Jul 2026, 05:10 PM

India Ratings & Research has assigned a credit rating of 'IND BBB/Stable' and 'IND A3+' to Andhra Cements Limited's bank loan facilities. The total rated amount stands at INR 938.97 crore, representing a reduction of INR 48 crore from the previous INR 986.97 crore. This rating is critical for the company given its high leverage, with a Debt-to-Equity ratio of 13.91 and total debt of Rs 1,127 crore. The stable outlook indicates a steady credit profile despite recent negative ROCE of -6.0%.

Long-term rating assigned as 'IND BBB' with a Stable outlook
Short-term rating assigned as 'IND A3+' for working capital limits
Total rated bank facilities reduced to INR 9,389.70 million from INR 9,869.70 million
State Bank of India holds the largest portion of rated debt with a term loan of INR 5,639.70 million
Yes Bank facilities include a term loan of INR 1,500 million and working capital limits of INR 400 million

💡 Monitor the company's quarterly operational performance to see if margins improve enough to service the Rs 1,127 crore debt, as the current ROCE is negative.

Andhra Cements Shareholders Approve ₹500 Cr Related Party Transaction with Sagar Cements

🟡 NEUTRAL ⭐ 6/10

ROUTINE 📅 26 Jun 2026, 04:43 PM

Andhra Cements Limited (ACL) successfully passed all resolutions at its 87th Annual General Meeting held on June 25, 2026. Shareholders approved the adoption of FY26 financial statements and the re-appointment of Mr. S. Sreekanth Reddy as a Director. A significant approval was granted for material related party transactions with the parent company, Sagar Cements Limited, for an aggregate value of up to ₹500 crores over the next year. All resolutions were passed with a requisite majority, with most receiving near-unanimous support.

Approved material Related Party Transactions with holding company Sagar Cements Limited up to ₹500 crores
Adoption of Audited Financial Statements for FY ended March 31, 2026, received 100% approval
Ratified remuneration of ₹5,00,000 for Cost Auditors M/s. Narasimha Murthy & Co for FY 2026-27
Re-appointment of Mr. S. Sreekanth Reddy as Director passed with 99.99% of votes in favor

💡 Investors should monitor the utilization of the ₹500 crore related party transaction limit to ensure operational synergies with the parent company are maintained at arm's length. The high level of shareholder support indicates strong confidence in the current management and governance.

Andhra Cements Shareholders Approve ₹500 Cr Related Party Transactions with Sagar Cements

🟡 NEUTRAL ⭐ 6/10

ROUTINE 📅 26 Jun 2026, 04:41 PM

Andhra Cements Limited (ACL) held its 87th Annual General Meeting on June 25, 2026, where all proposed resolutions were passed with a requisite majority. Key approvals included the adoption of the FY26 audited financial statements and the re-appointment of Mr. S. Sreekanth Reddy as a director. Most significantly, shareholders approved material related party transactions with the holding company, Sagar Cements Limited, for an aggregate value of up to ₹500 crores over the next year. The company also ratified the remuneration of ₹5.00 lakhs for its cost auditors for the 2026-27 financial year.

Shareholders approved material related party transactions with Sagar Cements Limited up to a limit of ₹500 crores.
Adoption of Audited Financial Statements for the fiscal year ended March 31, 2026, passed with 100% favor.
Ratification of ₹5,00,000 remuneration plus expenses for Cost Auditors M/s. Narasimha Murthy & Co for FY 2026-27.
Re-appointment of Mr. S. Sreekanth Reddy as Director was approved with near-unanimous support (83.4 million votes in favor).

💡 Investors should monitor the nature of the ₹500 crore transactions with the parent company to ensure they contribute to operational efficiency. The high level of shareholder support for all resolutions indicates stable corporate governance and alignment with the promoter group.

Andhra Cements to Close Trading Window from July 1 for Q1 FY27 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Jun 2026, 05:36 PM

Andhra Cements Limited has announced the closure of its trading window effective July 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is ahead of the company's first-quarter financial results for the period ending June 30, 2026. The window will remain closed until 48 hours after the board of directors approves and declares the un-audited financial results. This restriction applies to all directors, key management personnel, and designated persons to prevent insider trading.

Trading window closure starts from July 1, 2026.
Closure pertains to the un-audited financial results for the quarter ending June 30, 2026.
The window will reopen 48 hours after the official declaration of results.
Restriction applies to all Directors, KMPs, and designated persons of the company.

💡 This is a routine regulatory announcement with no impact on company fundamentals. Investors should wait for the announcement of the board meeting date to track the actual Q1 financial performance.

Andhra Cements Concludes 87th AGM; Approves Financials and Related Party Transactions

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 25 Jun 2026, 12:40 PM

Andhra Cements Limited (ACL) conducted its 87th Annual General Meeting on June 25, 2026, to deliberate on five key resolutions. The meeting included the adoption of audited financial statements for the fiscal year ending March 31, 2026, and the re-appointment of Mr. S. Sreekanth Reddy as a Director. Crucially, the company sought shareholder approval for material Related Party Transactions with its parent entity, Sagar Cements Limited, and RV Consulting Services Private Limited. Detailed voting results are expected to be filed separately within the stipulated regulatory timeframe.

87th Annual General Meeting held on June 25, 2026, concluding at 12:26 PM.
Adoption of Audited Financial Statements for the financial year ended March 31, 2026.
Proposed re-appointment of Mr. S. Sreekanth Reddy (DIN: 00123889) as a Director.
Approval sought for material Related Party Transactions with Sagar Cements Limited and RV Consulting Services.
Ratification of remuneration for Cost Auditors for the 2026-27 financial year.

💡 Investors should review the upcoming voting results to confirm shareholder approval levels, particularly for the material Related Party Transactions. No immediate portfolio changes are recommended based on this routine compliance filing.

Sagar Cements Submits Annual Declaration Under SEBI Takeover Regulations for Andhra Cements

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 22 Jun 2026, 03:37 PM

Sagar Cements Limited, the promoter of Andhra Cements Limited (ACL), has submitted a formal disclosure under Regulation 31(4) of the SEBI (SAST) Regulations, 2011. This annual declaration confirms that the promoter, along with persons acting in concert, has not created any new encumbrances on their shareholding during the financial year, other than those already disclosed. This is a standard compliance procedure intended to provide transparency regarding the status of promoter-held shares. The filing ensures that no undisclosed pledges or liens have been placed on the promoter's stake in the company.

Sagar Cements Limited filed the disclosure as the primary promoter of Andhra Cements Limited.
The filing is a mandatory annual requirement under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
The declaration confirms that no additional or undisclosed encumbrances were made on promoter shares during the fiscal year.
The document was officially signed and submitted by Sammidi Anand Reddy on behalf of the promoter group.

💡 No immediate action is required as this is a routine regulatory filing. Investors should view this as a positive sign of compliance and transparency regarding promoter shareholding.

Andhra Cements Shifts Registered Office to Telangana; New CIN Issued Effective June 17, 2026

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 19 Jun 2026, 03:48 PM

Andhra Cements Limited has officially shifted its registered office from the State of Andhra Pradesh to the State of Telangana. The Registrar of Companies (RoC), Hyderabad, issued the certificate on June 17, 2026, following a Regional Director order dated May 4, 2026. The company's new Corporate Identity Number (CIN) is L26942TS1936PLC217830. The new registered office is located at Jubilee Hills, Hyderabad, aligning it with its existing corporate office location.

Registered office shifted from Andhra Pradesh to Telangana effective June 17, 2026.
New Corporate Identity Number (CIN) assigned: L26942TS1936PLC217830.
The change was confirmed by the Regional Director's order dated May 4, 2026.
New address is Plot No. 111, Road No. 10, Jubilee Hills, Hyderabad - 500 033.

💡 This is a routine administrative and regulatory update. No action is required from investors as it does not impact the company's operational or financial performance.

Andhra Cements to Merge with Sagar Cements; Share Swap Ratio Set at 29:98

🟢 POSITIVE ⭐ 10/10

M&A 📅 05 Jun 2026, 05:20 PM

The Board of Andhra Cements Limited (ACL) has approved a merger with its holding company, Sagar Cements Limited (SCL). Shareholders of ACL will receive 29 equity shares of SCL (face value ₹2) for every 98 equity shares held in ACL (face value ₹10). For FY 2025-26, ACL reported revenue of ₹44,249 Lakhs and a net worth of ₹8,074 Lakhs. This consolidation aims to integrate SCL's 75% ownership into a single corporate structure to achieve operational efficiencies and brand alignment.

Share swap ratio fixed at 29 equity shares of Sagar Cements for every 98 shares of Andhra Cements.
Andhra Cements reported standalone revenue of ₹44,249 Lakhs and net worth of ₹8,074 Lakhs for FY 2025-26.
Sagar Cements currently holds a 75% stake in Andhra Cements, which already operates under the SCL brand.
The combined entity will leverage SCL's 10.50 MTPA consolidated capacity and unified distribution network.
The merger is subject to statutory approvals from NCLT, SEBI, and respective stock exchanges.

💡 Investors should evaluate the merger based on the implied swap ratio (approx 0.296 SCL shares for 1 ACL share) relative to current market prices. The consolidation is likely to improve long-term value through cost rationalization and a simplified group structure.

Andhra Cements to Hold 87th AGM on June 25, 2026; Announces Book Closure Dates

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 15 May 2026, 09:51 AM

Andhra Cements Limited has scheduled its 87th Annual General Meeting (AGM) for June 25, 2026, to be conducted via video conferencing. In conjunction with this, the company announced a book closure period from June 19, 2026, to June 25, 2026. This closure is intended to determine the eligibility of shareholders for voting on resolutions proposed at the meeting. As a subsidiary of Sagar Cements, the meeting will likely cover standard annual business and regulatory approvals.

87th Annual General Meeting scheduled for June 25, 2026
Share Transfer Books and Register of Members closed from June 19 to June 25, 2026
Meeting to be held through Video Conference or Other Audio Visual Means
Closure period used to determine shareholder eligibility for voting on resolutions

💡 Investors should monitor for the detailed AGM notice to review specific resolutions or potential dividend announcements. No immediate action is required as this is a routine regulatory compliance filing.

Andhra Cements to Hold 87th Annual General Meeting on June 25, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 14 May 2026, 11:36 AM

Andhra Cements Limited has announced that its 87th Annual General Meeting (AGM) will be held on Thursday, June 25, 2026. The decision was finalized by the Board of Directors during their meeting on May 13, 2026. The meeting will be conducted virtually through video conferencing or other audio-visual means. Shareholders will receive the formal notice and annual reports in due course to review the company's fiscal performance and proposed resolutions.

87th Annual General Meeting scheduled for June 25, 2026
Board of Directors approved the AGM date in a meeting held on May 13, 2026
The meeting will be conducted via video conferencing/audio-visual means
Notice of the AGM and related reports to be dispatched to shareholders shortly

💡 This is a routine regulatory announcement; investors should monitor for the upcoming AGM notice to review financial statements and voting agendas.

Andhra Cements Discloses Related Party Transactions of ₹24,642 Lakhs for H2 FY26

🟡 NEUTRAL ⭐ 5/10

ROUTINE 📅 13 May 2026, 07:14 PM

Andhra Cements Limited has submitted its Related Party Transactions (RPT) disclosure for the second half-year ended March 31, 2026. The total value of transactions during the reporting period amounted to ₹24,642.31 lakhs. Significant transactions were conducted with its holding company, Sagar Cements Limited, including a loan transaction of ₹14,998.00 lakhs and sale of goods/services worth ₹7,733.20 lakhs. Other transactions include interest payments and purchase of services from promoter group companies.

Total value of related party transactions during H2 FY26 stood at ₹24,642.31 lakhs.
A major loan transaction of ₹14,998.00 lakhs was executed with the holding company, Sagar Cements Limited.
Sale of goods or services to Sagar Cements Limited accounted for ₹7,733.20 lakhs during the period.
Interest paid to Sagar Cements Limited and RV Consulting Services stood at ₹616.73 lakhs and ₹361.51 lakhs respectively.
Purchase of goods or services from promoter group company Panchavati Polyfibres Limited totaled ₹500.35 lakhs.

💡 This is a routine regulatory filing. Investors should monitor the terms of the large loan and commercial transactions with the parent company, Sagar Cements, to ensure they remain on an arm's length basis.

View All ACL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company operates in a single business segment (Cement). Revenue was adversely impacted by a decrease in selling prices, leading to a net profit margin decline from -24% in FY24 to -56% in FY25.

Geographic Revenue Split

Not disclosed in available documents, though operations are concentrated around strategically located plants in Andhra Pradesh.

Profitability Margins

Operating Profit Margin (EBITDA/Net Revenue) deteriorated from -2% in FY24 to -8% in FY25. Net Profit Margin fell significantly from -24% to -56% over the same period due to lower realizations.

EBITDA Margin

EBITDA margin stood at -8% for FY25, a 600 bps decline from -2% in FY24, driven by adverse selling prices and increased fuel/power costs.

Capital Expenditure

Historical capital expenditure for H1 FY26 was INR 124.42 Cr, compared to INR 38.93 Cr in H1 FY25, representing a 219% increase in investment in property, plant, and equipment.

Credit Rating & Borrowing

Not disclosed; however, finance costs increased by 14.7% YoY to INR 41.45 Cr in H1 FY26. Non-current borrowings stood at INR 833.13 Cr as of September 30, 2025.

⚙️ Operational Drivers

Raw Materials

Specific raw materials include limestone, coal, gypsum, and fly ash. Fuel and power costs are major drivers, with significant impacts from regulatory true-up orders.

Capacity Expansion

Current capacity not specified in MTPA; however, the company employs 175 personnel at its cement plant and administrative office. Expansion is targeted through technological innovation and entering new geographies.

Raw Material Costs

Raw material and power costs were impacted by APERC true-up orders issued in October and November 2024 to recover fuel and power costs, leading to exceptional debits in the profit and loss statement.

Manufacturing Efficiency

The company is focusing on technological innovation to improve operational efficiency; however, specific capacity utilization percentages were not disclosed.

Logistics & Distribution

Not disclosed; however, the company notes that strategically located plants help optimize distribution costs.

📈 Strategic Growth

Growth Strategy

Growth is pursued through expansion into new geographies, leveraging strategically located plants for cost optimization, and technological innovations to enhance operational efficiency. The company is also divesting unused land parcels (INR 8.15 Cr) to streamline the balance sheet.

Products & Services

Cement bags sold under the Andhra Cements brand.

Brand Portfolio

Andhra Cements.

Market Expansion

The company plans to facilitate expansion into new geographies using its strategically located manufacturing base.

Strategic Alliances

ACL is a subsidiary of Sagar Cements Limited. It also has significant transactions with RV Consulting Services Private Limited (Promoter Group).

🌍 External Factors

Industry Trends

The Indian cement industry is shifting toward sustainable development and technological innovation. ACL is positioning itself to capitalize on these opportunities to remain a preferred brand.

Competitive Landscape

The industry is affected by global and domestic demand-supply dynamics; specific competitor market shares were not provided.

Competitive Moat

The moat is based on strategically located plants that optimize logistics and cost structures. Sustainability depends on maintaining operational efficiency amid volatile input costs.

Macro Economic Sensitivity

Highly sensitive to domestic supply-demand conditions and selling price fluctuations in the cement industry.

Geopolitical Risks

Global supply conditions are cited as a factor that could influence operations and selling prices.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to orders from the Andhra Pradesh Electricity Regulatory Commission (APERC) regarding fuel and power cost true-ups, which significantly impact profitability.

Taxation Policy Impact

Not disclosed; the company reported a loss before tax of INR 71.54 Cr for H1 FY26.

Legal Contingencies

The company is dealing with regulatory orders from APERC (dated October and November 2024) for cost recoveries. Specific values for other pending court cases were not disclosed.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the volatility of cement selling prices, which led to a 3200 bps drop in net profit margin. Debt-equity ratio increased from 2.27 to 5.24, signaling high financial risk.

Geographic Concentration Risk

High concentration in Andhra Pradesh, as evidenced by the impact of state-specific electricity regulatory orders.

Third Party Dependencies

Dependency on the state power grid and regulatory approvals for fuel/power pricing.

Technology Obsolescence Risk

The company is addressing technology risks through innovation to improve operational efficiency.

Credit & Counterparty Risk

Debtors turnover ratio increased from 26 days to 46 days (77% increase), indicating a potential slowdown in receivable collections and increased credit risk.