Ramco Cements Limited · NSE:RAMCOCEM
Ramco Cements — The Ramco Cements — H1 FY2027 Earnings Presentation
40 slides from Ramco Cements's earnings presentation, Nov 5, 2026
Slide 1: Exchange filing cover letter: Investor Update
Corporate Office: Auras Corporate Centre, V Floor, 98-A, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004, India. Tel: +91 44 2847 8666 Fax: +91 44 2847 8676 Website: www.ramcocements.in THE RAMCO CEMENTS LIMITED Corporate Identity Number: L26941 TN 1957PLC003566 5 November 2026 National Stock E
Slide 2: From Strength to Strength: Investor Update 1HFY27 | 2QFY27
THE RAMCO CEMENTS LIMITED from STRENGTH to STRENGTH Investor Update 1HFY27 | 2QFY27 HARD WORKER · CONSTRUCTION CHEMICALS
Slide 3: Contents
Contents 01 Overview 02 TRCL’s Market update 03 Sales & Capacity Utilization 04 Key Performance 05 Financial Analysis & Key Ratios 06 Capex & Borrowings update 07 ESG Update Ariyalur Integrated Plant 08 Brand Campaigns, Awards & Accolades Investor Update | 2QFY27 / 1HFY27
Slide 4: Overview
Overview Macro Economics Positives Watch Out ▪ GDP +7.8% YoY in Q1 FY27; RBI raised FY27 ▪ Cement production +9.8% YoY in Sep-26 and ▪ West Asia conflict: Houthi strikes on Saudi growth forecast to 7.1% (from 6.7%), Q2 seen +10.1% in H1 FY27; core sector growth at oil assets and Hormuz tanker attack
Slide 5: TRCL's Market update for 2QFY27
TRCL’s Market update for 2QFY27 South East Volume (B2C & B2B) Volume (B2C & B2B) Despite rains in Kerala & Karnataka Grew YoY Despite rains in Odisha & West Bengal Grew YoY Premium product share Premium product share 2QFY26: 30% 32% 2QFY26: 24% 23% Volume share Volume share 2QFY26: 83% 83% 2QFY26: 1
Slide 6: Sales & Capacity utilization for 2QFY27
Sales & Capacity utilization for 2QFY27 Cement Capacity Utilization % 2QFY26 2QFY27 1QFY27 71% 72% 70% 35% 31% 1.41x 34% 31% 1.37x 34% 33% 1.39x OPC share B2B share CC ratio OPC share B2B share CC ratio OPC share B2B share CC ratio Cement Sales (Lac Tons) Construction Chemicals Sales (Lac Tons) +8%
Slide 7: Sales & Capacity utilization for 1HFY27
Sales & Capacity utilization for 1HFY27 Cement Capacity Utilization % 1HFY26 1HFY27 69% 71% 33% 31% 1.43x 34% 32% 1.38x OPC share B2B share CC ratio OPC share B2B share CC ratio Cement Sales (Lac Tons) Construction Chemicals Sales (Lac Tons) +10% +26% 92.18 3.39 83.98 2.68 1HFY26 1HFY27 1HFY26 1HFY2
Slide 8: Key Performance for 2QFY27
Key Performance for 2QFY27 ` in Crores Revenue Cash profit +10% +8% -14% +6% 2,466 2,242 2,276 282 242 228 2QFY26 2QFY27 1QFY27 2QFY26 2QFY27 1QFY27 Cash profit = PBT + Depreciation – Current Tax (including Exceptional Items) Profit Before Tax (including Exceptional Items) Profit After Tax -48% +25%
Slide 9: Key Performance for 1HFY27
Key Performance for 1HFY27 ` in Crores Revenue Cash Profit +10% -19% 4,742 581 4,319 470 1HFY26 1HFY27 1HFY26 1HFY27 Cash profit = PBT + Depreciation – Current Tax (including Exceptional Items) Profit Before Tax (including Exceptional Items) Profit After Tax -56% -57% 217 160 94 70 1HFY26 1HFY27 1HF
Slide 10: EBITDA
EBITDA ` in Crores -16% +5% -19% 1,000 500 394 798 400 800 331 314 645 300 600 200 400 100 200 - - 2QFY26 2QFY27 1QFY27 1HFY26 1HFY27 EBITDA / Ton ` 866 / T ` 669 / T ` 681 / T ` 921 / T ` 675 / T ■ Average cement price in 1HFY27 remained flat YoY; however, improved by 2% YoY & 1% ■ Rupee depreciati
Slide 11: Interest
Interest ` in Crores -17% -3% -13% 160 16.00% 16.00% 216 140 14.00% 14.00% 200 189 120 111 12.00% 12.00% 100 93 96 10.00% 150 10.00% 80 8.00% 8.00% 100 60 7.18% 7.04% 7.03% 6.00% 7.41% 7.04% 6.00% 40 4.00% 4.00% 50 20 2.00% 2.00% - 0.00% - 0.00% 2QFY26 2QFY27 1QFY27 1HFY26 1HFY27 Effective rate of i
Slide 12: Depreciation
Depreciation ` in Crores +4% Flat +4% 200 182 190 190 365 380 180 160 140 120 100 80 60 40 20 - 2QFY26 2QFY27 1QFY27 1HFY26 1HFY27 Depreciation increased due to commissioning of manufacturing facilities viz. WHRS at RR Nagar, Railway Siding at Kolimigundla during previous year Investor Update | 2QFY
Slide 13: Standalone Revenue
Standalone Revenue ` in Crores 1HFY27 1HFY26 Variance % Particulars 2QFY27 2QFY26 Variance % 4,510.37 4,139.32 9% Cement 2,327.51 2,147.58 8% 216.88 165.65 31% Construction Chemicals (Note) 130.77 87.26 50% 14.77 13.53 9% Other Income 7.56 7.05 7% 4,742.02 4,318.50 10% Total Revenue 2,465.84 2,241.8
Slide 14: Income Statement for 2QFY27
Income Statement for 2QFY27 ` in Crores Standalone Consolidated Particulars 2QFY27 2QFY26 Variance % 2QFY27 2QFY26 Variance % 2,465.84 2,241.89 10% Revenue 2,469.80 2,245.88 10% 2,135.30 1,847.93 16% Less: Operating Expenses 2,136.41 1,850.73 15% 330.54 393.96 16% EBITDA 333.39 394.55 16% 92.93 111.
Slide 15: Income Statement for 1HFY27
Income Statement for 1HFY27 ` in Crores Standalone Consolidated Particulars 1HFY27 1HFY26 Variance % 1HFY27 1HFY26 Variance % 4,742.02 4,318.50 10% Revenue 4,749.59 4,325.28 10% 4,097.10 3,520.42 16% Less: Operating Expenses 4,103.01 3,527.22 16% 644.92 798.08 19% EBITDA 646.58 798.06 19% 188.51 216
Slide 16: Cost of raw materials per ton
Cost of raw materials per ton In ` +5% -6% -4% 1,024 980 995 1,013 950 2QFY26 2QFY27 1QFY27 1HFY26 1HFY27 Raw material cost per ton include impact of on levy of mineral bearing land tax in TN from Apr-2025, which has an impact of ` 77 per ton of cement for 1HFY27 (amounting to ` 72 Crores) & ` 69 pe
Slide 17: Logistics cost per ton
Logistics cost per ton In ` +2% Flat +2% 1,044 1,065 1,061 1,063 1,041 2QFY26 2QFY27 1QFY27 1HFY26 1HFY27 ■ Rail Co-efficient for cement despatches: 2QFY27 is 9% vs. 7% in 2QFY26 & 9% in ■ Rail Co-efficient for cement despatches: 1HFY27 is 9% vs. 8% in 1HFY26 1QFY27 ■ Avg. lead distance for cement d
Slide 18: Power and Fuel Cost per ton
Power and Fuel Cost per ton In ` +36% +5% +22% 1,397 1,363 1,326 1,120 1,029 2QFY26 2QFY27 1QFY27 1HFY26 1HFY27 ■ Blended Fuel consumption (incl. TPP) per T of material: 2QFY27: $ 140; 2QFY26: $ 122; 1QFY27: $ 127; 1HFY27: $ 134; 1HFY26: $ 125 ■ Blended Fuel cost per Kcal: 2QFY27: ` 1.99; 2QFY26: `
Slide 19: Power Mix
Power Mix 13% 12% 18% 39% 38% 45% 1QFY27 2QFY26 2QFY27 48% 50% 37% Grid power Green Power Thermal Power Focus on Green Power; Surpassing 50% in 2QFY27 16% 15% 41% 45% 1HFY26 1HFY27 39% 44% Investor Update | 2QFY27 / 1HFY27
Slide 20: Fuel Mix
Fuel Mix 16% 27% 1% 50% 2QFY26 49% 2QFY27 1QFY27 1% 72% 83% 1% Coal Alternate Fuel Pet coke Optimal usage of fuel based on Cost per CV 22% 52% 1HFY26 46% 1% 1HFY27 77% 2% Investor Update | 2QFY27 / 1HFY27
Slide 21: Employee Cost per ton
Employee Cost per ton In ` -3% -6% -4% 318 329 331 319 310 2QFY26 2QFY27 1QFY27 1HFY26 1HFY27 Despite annual increments & ramping up of manpower for construction chemicals business, employee cost per ton reduced by 4% YoY in1HFY27 due to operating leverage Investor Update | 2QFY27 / 1HFY27
Slide 22: Other Expenditure per ton
Other Expenditure per ton In ` +7% -2% +8% 620 634 627 578 582 2QFY26 2QFY27 1QFY27 1HFY26 1HFY27 Other Expenditure increased due to increase in packing material cost per ton by 30% YoY in H1FY27 in view of increase in polymer prices due to West Asia War Investor Update | 2QFY27 / 1HFY27
Slide 23: Summarized Financial Position
Summarized Financial Position ` in Crores Standalone Consolidated Particulars 30-09-2026 31-03-2026 30-09-2026 31-03-2026 13,892.54 13,905.87 Fixed Assets including CWIP 13,894.72 13,907.98 103.82 103.82 Investments 59.66 59.94 640.66 624.03 Loans and Advances 636.17 617.97 1,130.39 1,028.08 Invento
Slide 24: Summarized Cash flow
Summarized Cash flow ` in Crores Particulars 1HFY27 1HFY26 Operating Profit 644.92 798.08 Changes in working capital (-) 352.00 (-) 150.17 Direct Tax paid (-) 14.80 (-) 7.83 Others (-) 6.16 5.58 Net cash flow from Operating Activities 271.96 645.66 Capital Expenditure (-) 372.57 (-) 600.61 Proceeds
Slide 25: Key Ratios
Key Ratios Particulars UOM 1HFY27 1HFY26 2QFY27 2QFY26 1QFY27 FY26 EBITDA Ratio % 14% 18% 13% 18% 14% 16% PBT Ratio including Exceptional Items % 2% 5% 2% 4% 1% 10% PAT Ratio % 1% 4% 2% 3% 1% 8% EPS, Not Annualized ` 2.96 6.78 1.61 3.14 1.35 29.33 Debt-Equity Ratio Multiples 0.49 0.61 0.49 0.61 0.49
Slide 26: Capex update & Borrowings
Capex update & Borrowings Capex incurred during 2QFY27: ` 197 Crores; 1HFY27: ` 373 Crores Borrowings ` in Crores ■ During the 2QFY27, the Company had completed the debottlenecking activities at Jayanthipuram Particulars 30-09-2026 31-03-2026 which resulted in an increase in capacity by 0.73 MTPA; C
Slide 27: ESG Update
ESG Update CO2 Emission Blended Cement Water Positive Green energy CSR 572 Kg / T of Cement 66% 4.5x 50% 7k + Beneficiaries Based on 2QFY27 figures Firm and Focussed for a sustainable future Investor Update | 2QFY27 / 1HFY27
Slide 28: Hard Worker – Year One at a Glance
Hard Worker – Year One at a Glance ₹390 Cr 25.9 Cr 30 2 Net Revenue within Lifetime YouTube Industry awards Grand Prix wins at the first 12 months of views on the brand across six award Kyoorius Creative and launch channel shows Design Hard Worker crossed ₹390 Crores in net revenue within 12 months
Slide 29: Hard Worker: Brand Reach – YouTube and Instagram
Hard worker: Brand Reach – YouTube and Instagram YouTube Instagram followers – @ramcohardworker 25.9 Cr 25.7 L 91.5% 18,200 lifetime views watch hours avg. share of film viewed 5.5x Views by campaign film (Cr) Tile Fix – Dangerously Perfect 19.54 Brand film – Hard Work Always Wins 3.01 3,300 Eco Pla
Slide 30: Industry Recognition – Awards for Hard Worker
Industry Recognition – Awards for Hard Worker Kyoorius Creative Good Ads Matter MADDYS Kyoorius Design Love of Advertising ET Shark Awards 6 wins 7 wins 6 wins 3 wins 8 wins 2 Gold wins incl. Grand Prix for best for best editing, color for Client of the Year, TV, incl. Grand Prix for Design across T
Slide 31: Awards & Accolades
Awards & Accolades GLOBAL BIODIVERSITY STANDARD · ADVANCED SITE CERTIFICATION 1st The Ecological restoration carried out by the Company in the limestone mine in Pandalgudi, Virudhunagar District, Tamil Nadu, has received international recognition. The restored limestone mine in Tamil Nadu Site in Pe
Slide 32: Awards & Accolades
Awards & Accolades CII NATIONAL AI AWARDS · GLOBAL ARTIFICIAL INTELLIGENCE SUMMIT 2 The Company has received recognition at the Global Artificial Intelligence (AI) Summit & CII National AI Awards under “Winner – Excellence in Best Industry AI Application” & “Most Innovative Category – Excellence in
Slide 33: Awards & Accolades
Awards & Accolades Winner BEST PERFORMING WINDFARMS Windfarms Unit had received the "Best Performing Windfarms" Award from Indian Wind Power Association, “Best Performing Windfarms” in recognition of the outstanding performance of our windmills for the Financial Year 2025–2026. Investor Update | 2QF
Slide 34: Awards & Accolades
Awards & Accolades 2 CII NATIONAL ENERGY EXCELLENCE AWARDS · JAYANTHIPURAM WORKS Jayanthipuram unit had been awarded “Excellent Energy Efficient Unit” and “National Energy Leader” at National Energy Awards for the 27th National Energy Excellence Awards and 25th Energy Efficiency Summit, conducted by
Slide 35: Awards & Accolades
Awards & Accolades Winner UNIQUE BUSINESS SESSION FORUM · ARIYALUR UNIT Ariyalur Unit had received the "Best CSR Project of the Year" Award from Unique Business Session Forum, Best CSR Project of the Year for the successful implementation of the KALVI 40 Programme. Investor Update | 2QFY27 / 1HFY27
Slide 36: Awards & Accolades
Awards & Accolades 12 QUALITY CIRCLE FORUM OF INDIA, MADURAI CHAPTER · RR NAGAR UNIT RR Nagar Unit had won 12 Gold awards at Quality Circles Competitions on Quality Concepts conducted by Gold awards for RR Nagar Quality Circle Forum of India, Madurai Chapter, on 26th September 2026. Unit Investor Up
Slide 37: Awards & Accolades
Awards & Accolades JAYANTHIPURAM UNIT · 4 AWARDS KURNOOL UNIT · 2 AWARDS Jayanthipuram Unit had received the “Best Organization Award Kurnool Unit had received 2 awards for Overall Mines Safety supporting QC Movement” and 3 Gold awards at the 40th Annual Performance from Mines Safety & Productivity
Slide 38: Awards & Accolades
Awards & Accolades 25 awards for Ariyalur Unit: 11 Quality Circle Gold and 14 Mines Safety QUALITY CIRCLES & MINES SAFETY WEEK 2026 · ARIYALUR UNIT Ariyalur Unit had won 11 Gold awards at Quality Circles Competitions on Quality Concepts conducted by Quality Circle Forum of India, Coimbatore Chapter,
Slide 39: Awards & Accolades
Awards & Accolades 7 Gold awards for Alathiyur Unit at Quality Circles QUALITY CIRCLE FORUM OF INDIA, COIMBATORE CHAPTER · ALATHIYUR UNIT Alathiyur Unit had won 7 Gold awards at Quality Circles Competitions on Quality Concepts conducted by Quality Circle Forum of India, Coimbatore Chapter, on 21st a
Slide 40: Disclaimer
Disclaimer FORWARD-LOOKING STATEMENTS This communication, except for the historical information, may contain statements which reflect the Management’s current views and estimates and could be construed as forward-looking statements. The future involves certain risks and uncertainties that could caus