India Cements share price soared 9 per cent to ₹359 on the BSE in Thursday's intraday deals. The stock surged 22 per cent in two trading days on heavy volume. Analysts at Motilal Oswal Financial Services said, "EBITDA jumped 78 per cent year-on-year to ₹140 crore," as profitability improved for the company.
India Cements share price movement
Share price of India Cements soared 9 per cent to ₹359 on the BSE in Thursday's intraday deals amid heavy volume. In the past two trading days, the stock price of the cement company surged 22 per cent.
At 12:54 PM, India Cements quoted 7 per cent higher at ₹352.90, compared to a 0.34 per cent decline in the BSE Sensex. The average trading volume at the counter jumped over 10-fold, with a combined 35.96 million shares representing 11.6 per cent of the company's total equity changing hands on the NSE and BSE.
The stock price of India Cements hit a 52-week low of ₹287.60 on October 5, 2026. It touched a 52-week high of ₹489.65 on January 19, 2026.
What's driving India Cements share price?
India Cements' July to September 2026 quarter (Q2FY27) earnings before interest, tax, depreciation and amortization (EBITDA) jumped 78 per cent year-on-year (YoY) to ₹140 crore (32 per cent beat, led by higher volume and lower variable cost/t vs. estimates), said analysts at Motilal Oswal Financial Services in the Q2 result update.
EBITDA/t increased 53 per cent YoY to ₹511 (vs. est. ₹409). Operating profit margin (OPM) expanded 5.4pp YoY to 13 per cent (vs. estimates 11). Profit after tax grew 2.6x YoY to ₹38.8 crore (vs. estimate of ₹13.8 crore).
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India Cement's profitability improved YoY, driven by an increase in capacity utilization and cost-saving initiatives. However, elevated fuel prices and relatively subdued price hikes remain key near-term challenges. Additionally, continued capacity additions across the industry are intensifying competitive pressures. India Cements is also expanding its grinding capacity by 3.1mtpa to 17.6mtpa by FY28E, the brokerage firm said.
It estimates an EBITDA compound annual growth rate (CAGR) of 49 per cent over FY26-28, and EBITDA/t of ₹568/₹717 in FY27/FY28 vs. ₹385 in FY26. Check - TOP GAINERS NSE | TOP LOSERS NSE
Cement sector outlook
India remains the second largest cement market in the world and continues to be one of the most consequential markets globally on account of the structural demand emanating from urbanisation, infrastructure creation, housing and an expanding industrial base. Installed cement production capacity at the close of FY26 stood at 718 million tonnes per annum. Independent agencies estimate that 100 million tonnes of new grinding capacity will be commissioned over the two years ending FY28, India Cements said in its FY26 annual report.
The external factors require close monitoring during the year, viz. movements in crude oil and petroleum coke prices amid geopolitical developments, impact in rural demand due to below-normal South-West monsoon, and changes in the United States tariff policies along with their effect on the rupee and the cost of imported inputs.
Meanwhile, the cement industry is expected to witness healthy mid-to-high single-digit demand growth, supported by infrastructure, housing and urban development. Although rising fuel and freight costs may pressure margins in the near term, large players with scale, diversified fuel mix and operational efficiencies are well-positioned to sustain growth. Long-term sector fundamentals remain strong, with consolidation and capacity additions reinforcing resilience, India Cements said. Disclaimer: Views and outlook in this report belong to the brokerages and analysts cited. They do not reflect the views of Business Standard. Readers are advised to exercise discretion.