Nuvoco Vistas Corporation Limited — Investor Meet, 22-10-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Nuvoco Vistas reported Q2 FY'26 EBITDA of Rs. 371 crores, up 62% YoY, despite intense monsoon and festive periods. Revenue per ton rose 1% QoQ, with premiumization at 44% and trade mix at 74%. Blended fuel costs inched up to Rs. 1.46 per Mcal.

Vadraj Cement's refurbishment is on track for trial runs by H1 FY'27 and full commissioning by Q3 FY'27. East region capacity is expanding by 4 million tons annually with less than Rs. 200 crores investment, driven by blended cement demand and railway siding benefits. North expansion is prioritized over Gulbarga.

Net debt reduced by Rs. 1,009 crores YoY to Rs. 3,492 crores. Management anticipates 7-8% cement demand growth in H2, supported by government CAPEX, GST rate reduction, and lower interest rates. The company targets Rs. 25-50/ton realization increase via premiumization and geo-mix, along with Rs. 50/ton cost savings in FY'26. Management expresses confidence in sustained growth and deleveraging.