India's Ramco Cements slips after missing estimates for quarterly core profit

Ramco Cements

10/02/2026 04:14

** Shares of Ramco Cements TRCE.NS drop 3.9% to 1,158 rupees

** The South India-focussed cement maker posts a rise in third-quarter profit but falls short of volume growth expectations

** Jefferies, Motilal and Emkay say co's EBITDA missed estimates due to double whammy of weak volumes and weak pricing in its core markets of Southern and Eastern India

** Intense competition hurt pricing, says Jefferies ("hold," PT: raised to 1,045 rupees)

** Brokerage also notes the expansion of non-cement segments like construction chemicals worth monitoring for revenue diversification as cement competition intensifies

** At least three analysts downgrade Ramco, with 12 rating it "sell" or "strong sell" – the most in at least two years - data compiled by LSEG

** Stock up 9.4%, YTD

 (Reporting by Nandan Mandayam in Bengaluru)

 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))