Birla Corporation Limited (BIRLACORPN)
₹805.40 +1.51% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Birla's revenue was ₹2,646 Cr (+7.8% year on year, -6.7% on the previous quarter), and net profit ₹116 Cr (-3.2% year on year); the operating margin was 12.9%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹2,646 | +7.8% | -6.7% |
| Operating profit | ₹342 | -1.3% | -32.9% |
| Net profit | ₹116 | -3.2% | -60.7% |
| EPS (₹) | 15.03 | -3.2% | -60.7% |
| Operating margin | 12.9% | — | — |
BIRLACORPN delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 45.8% of the BIRLACORPN shares traded on NSE were taken to delivery, against the stock's own 20-session average of 57.61%. That is lower than usual for this stock.
Delivery in the last 5 sessions: 86.6% · 63.8% · 83.4% · 64.4% · 45.8%
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
CARE Ratings has reaffirmed Birla Corporation Limited's credit ratings at 'CARE AA; Stable' for long-term bank facilities and 'CARE AA; Stable / CARE A1+' for short-term facilities. Long-term bank facilities were enhanced from ₹526.00 crore to ₹696.00 crore, while long-term/short-term facilities were maintained at ₹960.00 crore. The rating rationale factors in the company's 21.4 MTPA capacity (expanding to 27.6 MTPA by FY29), healthy capacity utilization of 87-88%, and stable realisations of ₹4,947/tonne in Q1 FY27.
- CARE reaffirmed 'CARE AA; Stable' rating for long-term bank facilities enhanced to ₹696.00 crore (from ₹526.00 crore)
- Reaffirmed 'CARE AA; Stable / CARE A1+' ratings on ₹960.00 crore of long-term/short-term facilities
- Consolidated cement installed capacity reached 21.4 MTPA as of March 31, 2026, with target of 27.6 MTPA by FY29
- Consolidated cement sales volume stood at 5.05 MT in Q1 FY27 (+5.4% YoY) with realisations at ₹4,947/tonne
Birla Corporation's wholly owned material subsidiary, RCCPL Private Limited, has received a Show Cause Notice (SCN) from the CGST & Central Excise authorities in Jabalpur proposing recovery of ₹15,02,51,383 in alleged ineligible Input Tax Credit for FY 2022-23. The dispute relates to Bills of Entry reflecting in GSTR-2B after statutory deadlines under Section 16(4) of the CGST Act. The claimed amount of ₹15.03 crore is immaterial against Birla Corp's TTM revenue of ₹9,849 crore (around 0.15%) and TTM PAT of ₹553 crore (under 3%). The company stated that the SCN lacks merit and will file submissions, noting no immediate operational or financial impact.
- RCCPL received an SCN seeking ₹15,02,51,383 in alleged excess/ineligible Input Tax Credit for FY 2022-23.
- Notice includes claims for applicable interest and penalty in addition to the base amount.
- Intimation was received by the company on September 18, 2026, at approximately 11:34 p.m. IST.
- The claim represents ~0.15% of Birla Corp's TTM revenue of ₹9,849 crore.
Birla Corporation Limited has issued and allotted 1,000 units of Commercial Paper aggregating to ₹50 crore on September 15, 2026. The instrument carries an upfront coupon rate of 6.50% p.a. with a 90-day tenure maturing on December 14, 2026. The Commercial Paper is unsecured and proposed to be listed on BSE Limited. Relative to the company's annual revenue of ₹9,849 crore and total debt of ₹905 crore, this ₹50 crore short-term borrowing represents a routine working capital management activity (~0.5% of TTM revenue).
- Issued 1,000 units of Commercial Paper of ₹5,00,000 each aggregating to ₹50 crore
- Discount/coupon rate set at 6.50% p.a., payable upfront
- Tenure of 90 days with allotment on 15/09/2026 and maturity on 14/12/2026
- Security proposed to be listed on BSE Limited with no charge created on assets
Birla Corporation Limited has fully redeemed 500 Series-VII Non-Convertible Debentures (NCDs) aggregating to ₹20.00 crore on their maturity date of September 14, 2026. The redemption was accompanied by an interest payout of ₹1.86 crore (inclusive of TDS). Following this payout, the company has no outstanding NCDs on its books. Against total debt of ₹905 crore and net worth of ₹5,816 crore, the redemption size represents approximately 2.2% of total borrowings.
- Redeemed 500 NCDs aggregating to ₹20,00,00,000 on maturity date September 14, 2026
- Paid applicable interest amounting to ₹1,86,01,371 (inclusive of TDS)
- Post-redemption, company has zero outstanding NCDs as of date
- Redeemed principal of ₹20 crore equals ~2.2% of total debt (₹905 crore)
Birla Corporation has announced a change in its senior management personnel effective September 10, 2026. Chief Marketing Officer Shri Kalidas Pramanik took early superannuation due to family health challenges, but will continue with the company in an advisory capacity. Shri Tamal Kumar Pal, currently President – Corporate Development with over 25 years of experience, has been appointed as President – National Sales Head. The transition is internal, mitigating disruption risks for the company's ₹9,849 Cr TTM revenue sales engine.
- Chief Marketing Officer Shri Kalidas Pramanik stepped down via early superannuation effective close of business hours on September 9, 2026
- Shri Tamal Kumar Pal designated as President - National Sales Head and Senior Management Personnel effective September 10, 2026
- Incoming Sales Head Shri Pal brings over 25 years of cross-functional experience and has been with the company since July 2018
- Outgoing CMO Kalidas Pramanik to remain associated with Birla Corporation in an advisory capacity
Birla Corporation Limited informed exchanges that CRISIL ESG Ratings & Analytics Limited has assigned it an ESG score of 'Crisil ESG 58'. The rating was conducted voluntarily and independently by CRISIL based on publicly available information, without any engagement by Birla Corp. The intimation was received by the company on August 24, 2026. This is an informational disclosure with no direct impact on financial operations or debt servicing.
- CRISIL ESG Ratings assigned a voluntary score of 'Crisil ESG 58' to Birla Corporation
- Assessment conducted independently based on publicly available information without company engagement
- Intimation was received by the company on August 24, 2026 at 7:43 PM IST
Birla Corporation Limited has fully redeemed 2,000 Secured, Rated, Listed, Redeemable Non-Convertible Debentures (Series-VI) on their scheduled maturity date of August 18, 2026. The total principal redeemed aggregated to ₹80 crore alongside an interest payout of ₹7.40 crore. Following this redemption, the company's outstanding NCD exposure stands reduced to ₹20 crore under a separate ISIN. The redeemed amount represents approximately 8.8% of the company's total debt of ₹905 crore.
- Fully redeemed 2,000 Series-VI NCDs with aggregate principal value of ₹80,00,00,000 on August 18, 2026
- Paid applicable interest amounting to ₹7,40,00,000 on the due date
- Outstanding NCDs post-redemption reduced to ₹20 crore under different ISIN
- Original issue face value was ₹10,00,000 each, with outstanding face value of ₹4,00,000 each prior to redemption
Birla Corporation Limited disclosed that ESG Risk Assessments & Insights Limited has voluntarily reviewed and assigned the company an ESG score of 63 based on publicly available information. The company clarified that it did not formally engage the agency for this assessment. The intimation was received by the company on August 17, 2026. This is an informational disclosure with no direct impact on financial or operational performance.
- ESG score of 63 assigned by ESG Risk Assessments & Insights Limited
- Review was conducted voluntarily based on publicly available data without company engagement
- Information was received by the company on 17th August, 2026 at 10:25 p.m. IST
Birla Corporation's material subsidiary, RCCPL Private Limited, has received a Show Cause Notice for a GST demand of ₹10.30 crore. The notice, issued by the CGST Nagpur-I Commissionerate, alleges wrongful Input Tax Credit (ITC) availment for FY 2020-21 and 2022-23. Including an equivalent penalty, the total claim stands at approximately ₹20.6 crore plus interest, which is roughly 3.7% of the company's TTM PAT of ₹557 crore. The company intends to contest the demand, citing a previous favorable order in a similar matter.
- Demand of ₹10,30,06,338 raised for alleged wrongful Input Tax Credit (ITC) availment.
- Notice covers two specific financial years: 2020-21 and 2022-23.
- Potential financial impact includes an equivalent penalty of ₹10.30 crore plus applicable interest.
- Total claim (excluding interest) represents approximately 0.21% of TTM Revenue of ₹9656 crore.
- Company received the notice on August 11, 2026, and is in the process of submitting a reply.
Birla Corporation Limited concluded its 106th Annual General Meeting on August 1, 2026, where all resolutions were passed, including the adoption of FY26 financials and dividend declaration. However, the re-appointment of Director Harsh V. Lodha faced notable opposition, with 20.83% of total votes cast against him. Specifically, within the promoter group's e-voting, 64.31% (1.25 crore votes) were cast against his re-appointment, though the resolution passed due to support from other promoter blocks and public institutions. The Scrutinizer's report detailed complex legal maneuvers involving the M.P. Birla estate, including the blocking of e-voting for certain societies based on court orders.
- Resolution for re-appointment of Shri Harsh V. Lodha passed with 79.17% total votes in favor and 20.83% against.
- Promoter group e-voting for Resolution 3 saw 1,25,18,618 votes cast against the director, representing 64.31% of that category's e-votes.
- Dividend for the financial year ended March 31, 2026, was approved with a 98.77% majority.
- A total of 90,103 shareholders were on record for the meeting, with 888 public shareholders attending.
- Scrutinizer blocked e-voting for 4 specific societies (e.g., M.P. Birla Institute of Fundamental Research) following legal representations and court orders.
Birla Corporation Limited concluded its 106th Annual General Meeting on August 1, 2026, with 888 members in attendance. Shareholders approved a dividend of ₹12.50 per share (125%) for FY26, which translates to a dividend yield of approximately 1.4% at the current market price. The meeting also ratified the audited financial statements for FY26, where the company reported a TTM revenue of ₹9,656 Cr and PAT of ₹557 Cr. Additionally, Chairman Harsh V. Lodha was re-appointed to the board, and cost auditor remuneration for FY27 was set at ₹5,00,000.
- Dividend of ₹12.50 per share (125%) approved for the financial year ended March 31, 2026
- 888 members attended the meeting in person or through proxy at Gyan Manch, Kolkata
- Remote e-voting facility was utilized by members between July 29 and July 31, 2026
- Ratification of ₹5,00,000 remuneration for Cost Auditors M/s. Shome & Banerjee for FY2026-27
- Adoption of Audited Consolidated Financial Statements for FY26 showing TTM PAT of ₹557 Cr
Birla Corporation has commissioned its third production line at Kundanganj with a capital expenditure of ––300 crore, increasing total capacity to 21.4 MTPA. The company has set a clear roadmap to reach 27.6 MTPA by FY2028-29, a ~29% increase from current levels. While the cement industry faces pricing pressure and rollbacks as of June 2026, the company is mitigating costs by increasing its green energy mix to 33%. The jute division, despite a 27% production drop due to raw material shortages, managed a cash profit of over ––4 crore in the June quarter.
- Commissioned Kundanganj 3rd line with ––300 crore capex, scaling capacity to 21.4 MTPA
- Firm roadmap established to reach 27.6 MTPA total capacity by 2028-29
- Green energy mix improved from 25% to 33% as of the June 2026 quarter
- Jute division production declined 27% in June quarter but maintained a cash profit of ––4 crore
- Blended cement now constitutes nearly 90% of total sales, among the highest in the industry
Birla Corporation reported high capacity utilization exceeding 90% for Q1 FY27, though it faced realization headwinds as trade and blended cement prices remained soft, especially in Central India. The Mukutban plant contributed 7.5 lakh tons to total volumes with a lead distance of 400 km. The company invested Rs 120 Cr in capex during the quarter while maintaining fuel costs at 1.64 KCal. Management highlighted a sharp rise in packaging costs to Rs 269 per ton, up from Rs 191 per ton in the same period last year.
- Capacity utilization remained high at over 90%, indicating limited immediate volume headroom.
- Mukutban plant achieved a volume of 7.5 lakh tons during the quarter.
- Quarterly capital expenditure (capex) was approximately Rs 120 Cr, representing ~2% of net worth.
- Packaging costs increased significantly to Rs 269 per ton from Rs 191 per ton YoY.
- Fuel cost efficiency was maintained with a KCal cost of 1.64.
Birla Corporation has released the audio recording of its investor conference call held on July 25, 2026, regarding the financial results for the quarter ended June 30, 2026. The call concluded at 4:17 p.m. IST and provides management's perspective on the company's performance. With a TTM revenue of Rs 9,656 Cr and a current capacity of 20 MTPA, these calls are critical for understanding regional pricing trends in Central and Eastern India. The stock has seen a 12-month price return of -32.3%, making management's outlook on volume recovery particularly relevant.
- Audio recording released for the quarter ended 30th June, 2026.
- The analyst conference call concluded at 4:17 p.m. IST on 25th July, 2026.
- Company maintains a total cement capacity of 20 MTPA as of the latest reporting period.
Birla Corporation reported a 7.4% YoY revenue growth to ₹2,669 crore for Q1 FY26-27, supported by a 5.4% increase in cement volumes to 5.05 million tons. Despite maintaining a high capacity utilization of 98%, EBITDA fell 3.6% to ₹365 crore as power and fuel costs rose by 5%. Net profit declined slightly by 3.3% to ₹116 crore, reflecting subdued realizations and intense market competition. The company's strategic focus on premium products (62% of volume) and trade channels (82%) helped partially offset margin pressures.
- Cement sales volume grew 5.4% YoY to 5.05 million tons, driven by trade segment gains in Maharashtra and UP.
- Capacity utilization remained robust at 98%, though slightly down from 99% in the previous year.
- Premium cement sales, led by the 'Perfect Plus' brand, grew 18% YoY and now constitute 62% of total volume.
- EBITDA per ton contracted by 5.6% to ₹675, primarily due to a 5% increase in power and fuel expenses.
- Green power consumption reached 33% of total requirements, up from 31% at the end of the last fiscal year.
Financial Performance
Revenue Growth by Segment
Consolidated revenue from operations decreased 4.41% YoY to INR 9,312.40 Cr in FY25 from INR 9,741.79 Cr. Standalone revenue fell 8.51% to INR 5,211.68 Cr. Despite the revenue drop, cement sales by volume grew 2.48% YoY, outperforming the industry average.
Geographic Revenue Split
The company maintains a strong market position in Central and Eastern India, supported by a 20 MTPA installed capacity split between Birla Corporation (10.19 MTPA) and its subsidiary RCCPL (9.81 MTPA).
Profitability Margins
Consolidated Net Profit decreased 29.8% to INR 295.22 Cr in FY25 from INR 420.56 Cr. Standalone Net Surplus stood at INR 1,281.69 Cr. Profitability was impacted by pricing challenges and the need to purchase external clinker due to internal production setbacks.
EBITDA Margin
Consolidated EBITDA fell 13.66% to INR 1,315.13 Cr in FY25 from INR 1,523.17 Cr. The EBITDA margin declined to 13.40% from 15.18% YoY, primarily due to aggressive market share consolidation by competitors and higher operational costs.
Capital Expenditure
Planned capex for FY26 is approximately INR 800 Cr, revised downward from the initial guidance of INR 1,000-1,100 Cr. This is primarily categorized as sustaining capex rather than aggressive capacity expansion.
Credit Rating & Borrowing
CARE Ratings reaffirmed 'CARE AA; Stable' for long-term facilities and 'CARE A1+' for short-term facilities. Consolidated finance costs decreased 12.01% to INR 327.06 Cr in FY25 from INR 371.71 Cr due to continuous monitoring and refinancing of borrowings.
Operational Drivers
Raw Materials
Key raw materials include Limestone, Gypsum, and Clinker (purchased clinker was used to offset internal production setbacks, which increased costs). Jute is the primary raw material for the Jute division.
Import Sources
Sourcing is primarily domestic, with Rajasthan mentioned as a key area for incremental sales and sourcing. Specific import countries are not disclosed.
Capacity Expansion
Current installed capacity is 20 MTPA as of March 31, 2025. The Mukutban plant is expected to return to original projections after temporary weather-related dislocations.
Raw Material Costs
Raw material costs were impacted by the use of external clinker, which dented profitability. The company focuses on blended cement to optimize material costs.
Manufacturing Efficiency
Inventory turnover ratio improved standalone from 7.97 to 8.42 YoY, indicating better stock management. Consolidated inventory turnover remained stable at 9.41.
Logistics & Distribution
Lead distance for Q2 FY26 was 340 kilometers. Logistics costs are a key focus area for risk mitigation across all domains.
Strategic Growth
Expected Growth Rate
2.48%
Growth Strategy
The company aims to achieve growth by focusing on the B2C trade segment, increasing the proportion of blended cement, and pushing premium product sales. It also plans to recover volumes at the Mukutban plant as market conditions normalize post-monsoon.
Products & Services
Grey Cement, Portland Slag Cement (PSC), Jute bags, and Jute products.
Brand Portfolio
Birla Cement Samrat, Perfect Plus, Rakshak, Birla Cement Unique, and Birla Cement Chetak.
New Products/Services
Focus on premium products like 'Perfect Plus' which has been a key driver of profitability despite market headwinds.
Market Expansion
Focus on deepening penetration in Central and Eastern India markets where the company already has a healthy competitive position.
Market Share & Ranking
The company is a leading player in Central India with a total capacity of 20 MTPA.
External Factors
Industry Trends
The cement industry is seeing a trend of major players aggressively consolidating market share, which puts downward pressure on prices. Birla Corp is positioning itself via premiumization and B2C focus to counter this.
Competitive Landscape
Faces intense competition from major cement players who are using incentives from new plants to focus on non-trade and OPC segments.
Competitive Moat
Moat is built on strong brand heritage ('Birla Jute' legacy), high penetration in Central/Eastern India, and a robust distribution network for premium brands like 'Perfect Plus'.
Macro Economic Sensitivity
Highly sensitive to infrastructure spending and construction activity. Pricing is sensitive to the consolidation moves of top-tier industry players.
Consumer Behavior
Shift toward premium, branded cement for individual home building (B2C) is supporting the company's realization strategy.
Geopolitical Risks
Not specifically detailed, though raw material and fuel supply chains are listed as key risk areas.
Regulatory & Governance
Industry Regulations
Operations are governed by pollution norms and manufacturing standards. The company maintains systems to ensure compliance with all applicable laws.
Environmental Compliance
The company received several awards for excellence in sustainability and safety in FY25. It identifies environment and statutory compliance as key risk areas.
Legal Contingencies
The company provided updates on litigation in September 2025. It also issued notices for a special window for re-lodgement of transfer requests for physical shares in December 2025.
Risk Analysis
Key Uncertainties
Pricing volatility due to industry consolidation (potential 10-15% impact on EBITDA) and weather-related dispatch disruptions in key manufacturing hubs.
Geographic Concentration Risk
Significant concentration in Central and Eastern India, making it vulnerable to regional economic or weather-related downturns.
Third Party Dependencies
Dependency on external clinker suppliers during internal production setbacks was a noted risk that impacted FY25 profitability.
Technology Obsolescence Risk
The company is investing in technology absorption and IT/cyber security to mitigate digital and operational risks.
Credit & Counterparty Risk
Maintains a current ratio of 1.09 (Consolidated) and manages surplus funds by investing in high-creditworthiness entities to ensure receivables quality.
