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Nuvoco Vistas sold 4.7 million tonnes of cement in Q2 FY27, an 11.3% decline from the previous quarter—rounded to 11% in the headline—but 9% more than in the same quarter a year earlier. The contrasting comparisons matter: sequential volume and several operating measures weakened, while the company still reported year-over-year growth in volume, revenue and EBITDA.
How did Nuvoco Vistas’ cement volume change in Q2 FY27?
ICICI Direct Research reported cement sales volume of 4.7 million tonnes for July–September 2026, down 11.3% quarter on quarter and up 9% year on year. Nuvoco’s results release also stated 4.7 million tonnes and 9% year-over-year growth; the 11.3% sequential comparison is reported in the analyst summary.
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Quarter-on-quarter compares Q2 FY27 with the immediately preceding quarter. Year-on-year compares it with July–September 2025. The decline in the first comparison does not mean sales were lower than a year earlier.
Why did cement sales fall quarter on quarter?
Management pointed to intense and erratic rainfall in key markets, logistics and supply-chain disruptions, and elevated input costs amid geopolitical uncertainty as challenges during the quarter. These are management’s stated operating conditions, not independently quantified proof that any one factor caused the 11.3% volume decline.
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Managing Director Jayakumar Krishnaswamy described Q2 FY27 as a “challenging operating environment” and said the company delivered strong year-over-year growth in revenue, EBITDA and profit after tax despite those conditions. The company’s remarks give context, but do not isolate the effect of weather, logistics or costs on cement tonnage.
How did revenue and profitability compare with volume?
Nuvoco’s release reported consolidated revenue of ₹2,790 crore, up 13.5% year on year, and EBITDA of ₹411 crore, up 11% year on year. Those annual comparisons were positive even as volume declined sequentially.
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| Measure | Reported Q2 FY27 result | Comparison | Source |
|---|---|---|---|
| Cement sales volume | 4.7 million tonnes | Down 11.3% quarter on quarter; up 9% year on year | ICICI Direct Research; company release corroborates volume and annual growth |
| Consolidated revenue | ₹2,790 crore | Up 13.5% year on year; down 10.8% quarter on quarter in the analyst summary | Company release and ICICI Direct Research |
| EBITDA | ₹411 crore | Up 11% year on year | Company release |
| Operating profit | ₹408.3 crore | Down 28.1% quarter on quarter; up 11.3% year on year | ICICI Direct Research |
| EBITDA per tonne | ₹869 | Down 19% quarter on quarter | ICICI Direct Research |
| Blended realization | Not stated | Up 0.6% quarter on quarter | ICICI Direct Research |
The ₹411 crore EBITDA figure is the rounded measure in the company release; the analyst summary separately gives operating profit of ₹408.3 crore. These labels and values should not be treated as interchangeable.
What operational project did Nuvoco report?
Nuvoco said it commissioned a 2 MMTPA grinding unit at Limla, Surat during the quarter. MMTPA means million tonnes per annum, so the figure describes the unit’s stated annual capacity, not cement produced or sold during Q2. The company described the remaining modules of the Vadraj Cement Project at Kutch and Sachana as planned work.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What is known about the status of the results?
The board approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, on October 22, 2026. The exchange filing says the results include limited review reports; they should therefore be described as unaudited and reviewed, not audited. See the board outcome and results filing.
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Nuvoco Vistas operates across cement, ready-mix concrete and modern building materials. This Q2 report concerns its quarterly performance, with the cement volume figures providing the clearest measure of sales tonnage.
Frequently Asked Questions
Was Nuvoco’s Q2 FY27 cement volume higher than last year?
Yes. The reported 4.7 million tonnes was 9% above the volume in Q2 FY26, even though it was below the immediately preceding quarter.
When did Nuvoco’s Q2 FY27 quarter end?
The quarter covered July through September 2026 and ended on September 30, 2026. The board approved the quarter’s unaudited results on October 22, 2026.
Does the 2 MMTPA Limla figure mean Nuvoco sold two million tonnes in Q2?
No. It is the grinding unit’s stated annual capacity, and the release says the unit was commissioned during the quarter. It is not a reported quarterly sales or production figure.
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