Ramco Cements Q3 profit rises but misses volume growth expectations

Ramco Cements

09/02/2026 13:44

Feb 9 (Reuters) - India's Ramco Cements TRCE.NS reported a rise in third-quarter profit on Monday but fell short of volume growth expectations.

The South India-focussed cement maker posted core profit at 65.8 million rupees ($725,476.58) for the quarter ended December, up from 43.5 million rupees a year ago.

Ramco said revenues rose 6.3% to 21.01 billion rupees, while cement sales volumes increased 4% on-year, missing the 5%-6.5% growth range expected by at least three brokerages.

The company recorded one-time profits of 4.79 billion rupees in the reported quarter from the sale of its surplus land. In the year-ago quarter, Ramco booked an exceptional 3.29 billion rupees profit on sale of land parcels and investments.

For further results highlights, click here.

KEY CONTEXT

The October-December period typically brings weaker demand for construction materials in India, as workers travel home for festivals in various parts of the country.

However, demand firmed materially in December, Jefferies said in a pre-earnings note, following the government cutting taxes on cement bags to 18% from 28%.

PEER COMPARISON

Valuation (next 12 months)
Estimates (next 12 months)
Analysts' sentiment
RIC
PE
EV/EBITDA
Price/Sales
Revenue growth (%)
Profit growth (%)
Mean rating*
# of analysts
Stock to price target**
Div yield (%)
Ramco Cements Limited
TRCE.NS
39.50
15.66
NULL
11.38
71.96
Hold
23
1.11
0.17
UltraTech Cement Ltd
ULTC.NS
35.16
19.47
3.79
12.35
32.43
Buy
38
0.91
0.61
Ambuja Cements Ltd
ABUJ.NS
32.86
14.88
2.80
16.89
9.04
Buy
40
0.85
0.38
Dalmia Bharat Ltd
DALB.NS
29.82
11.67
2.49
9.83
19.33
Buy
35
0.89
0.42

* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

OCTOBER-DECEMBER STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 90.6990 rupees

TRCE Q3 vs peers https://tmsnrt.rs/3O4ipxt

 (Reporting by Komal Salecha and Hritam Mukherjee in Bengaluru; Editing by Harikrishnan Nair and Tasim Zahid)

 ((Komal@thomsonreuters.com;))