Birla Corporation Limited — Investor Meet, 13-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Birla Corp's Q2 EBITDA per ton was ~INR 712. Profitability faced headwinds from subdued central region prices, rains, and a Maihar plant breakdown (INR 20-25 Cr impact). However, strategic focus on B2C trade, blended, and premium cement mitigated GST changes and non-trade price drops. Management projects a stronger H2 with 4-5% YoY volume growth in Q3, driven by government capex, and improved realization in Q4. Kundangunj unit expected by Q3/Q4 end. Full-year capex is INR 800 Cr, net debt INR 2,450 Cr. Jute business revitalized for value addition. Management is cautiously optimistic for demand recovery.