Nuvoco Vistas Q4 Results | Net profit falls 15%; FY26 cement volume rises 5%

Shares of Nuvoco Vistas Corporation Ltd, part of the Nirma group’s cement division, closed at ₹305.55 on Monday, April 13, declining by ₹6.25 or 2% on the BSE.

Q4 Financial Performance

On Tuesday, April 14, Nuvoco Vistas announced its consolidated financial results for the quarter ending March 2026. The company reported a net profit of ₹140.71 crore for Q4, reflecting a year-on-year decrease of about 15% compared to ₹165.54 crore in Q4 of the previous year.

Revenue from operations increased by 8.7% to ₹3,306.75 crore during the March quarter, up from ₹3,042.25 crore in the corresponding quarter of the previous fiscal year. Total expenses rose by 7.27% to ₹3,028.04 crore in the same period.

Fiscal Year 2026 Highlights

For the full fiscal year 2026, Nuvoco Vistas recorded cement sales volume of 20.4 million metric tonnes (MMT), marking a 5% increase compared to the prior year.

Premium product sales improved to constitute 43% of the total, up by 300 basis points year-on-year, maintaining the company’s leading position in the industry.

The company attributed the growth in premiumisation to strong demand for its branded products, including Nuvoco Concreto and Nuvoco Duraguard, which have gained momentum in the construction sector.

Expansion and Development Initiatives

Progress is underway at the Vadraj Cement facilities, with clinker and grinding units expected to begin phased operations starting Q3 of FY27.

Additionally, the company’s 4 MMT per annum expansion in the Eastern region is advancing as planned, with phased completion targeted by FY28. This expansion will raise the total cement capacity to approximately 35 MMT per annum.

New Bulk Cement Terminal at Viramgam

Nuvoco’s board has approved the development of a bulk cement terminal at Viramgam, Sachana in Gujarat. This facility is designed for efficient handling of about 1.5 MMT per annum and will include a dedicated railway siding.

The terminal aims to enhance distribution capabilities in the Gujarat market and is scheduled to be operational by FY27-28.

Investment in Renewable Energy

The company has sanctioned an investment to acquire a 26% stake in Clean Max Ilghop Private Ltd, a special purpose vehicle established by Clean Max Enviro Energy Solutions Ltd, a renewable energy producer.

This acquisition, valued up to ₹26 crore and payable in cash, involves agreements related to the construction and operation of a hybrid renewable energy plant at Nuvoco’s Nimbol Cement Plant.

Clean Max Ilghop Private Ltd, incorporated on October 24, 2025, focuses on renewable energy generation, transmission, and distribution, but has reported no turnover in the previous three years. Following the investment, it will become an associate of Nuvoco Vistas.

Under the deal, Clean Max will manage land acquisition, project development, commissioning, and operations under a Build-Own-Operate-Transfer (BOOT) model. The facility will operate for 25 years and include a 10-year lock-in period.

Stock Market Reaction

On the stock market front, Nuvoco Vistas shares showed a 2% decline on April 13 following these announcements.

Key Takeaways

  • Net profit for Q4 FY26 declined by approximately 15% to ₹140.71 crore.
  • Revenue from operations increased by 8.7% to ₹3,306.75 crore in Q4.
  • FY26 cement sales volume rose by 5% to 20.4 MMT.
  • Premium product sales now constitute 43% of total sales, boosted by branded offerings.
  • Ongoing expansions include Vadraj facilities and Eastern region capacity increase, aiming for 35 MMT total capacity by FY28.
  • Development approved for a bulk cement terminal in Gujarat to enhance distribution.
  • Investment made in a renewable energy joint venture, expanding sustainable energy initiatives.
  • Shares declined 2% on April 13 amid financial disclosures.