Star Cement Ltd
Star Cement Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management said on revenue, margins and capex.
- Revenue
- ₹811Cr
- +26.3% YoY
- Net profit
- ₹71Cr
- +1083.3% YoY
- Margin
- 23%
- +8 pp YoY
Guidance rank: #16 of 17 in Cement & Cement Products
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Star Cement Ltd Q2 FY26 key numbers
- Revenue
- The Bihar grinding unit with 2 million tons capacity is expected to contribute to volume growth from around FY29.
As stated in Star Cement Ltd's Q2 FY26 earnings call transcript · published 8 Aug 2026. Reported figures, not investment advice.
The short version
For FY27, Star Cement expects around 12% volume growth, mainly due to ramping up of the Siliguri plant, despite no entry into new geographies. Star Cement targets reaching 18-20 million tons capacity by FY29-FY30, supporting volume growth.
From Star Cement Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- For FY27, Star Cement expects around 12% volume growth, mainly due to ramping up of the Siliguri plant, despite no entry into new geographies.
- The target capacity by FY29-FY30 is around 18-20 million tons, with 18 million tons being a more realistic target.
- The Bihar grinding unit with 2 million tons capacity is expected to contribute to volume growth from around FY29.
- The company anticipates revenue of about Rs. 80-90 crores from AAC blocks, construction chemicals, and RMC in FY26 and FY27 as part of diversification.
2 more points from Star Cement Ltd's call on revenue
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Profitability & Margins
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Capital Expenditure Plans
- FY26 CAPEX planned around Rs. 710-720 crores, including:
- Completion of Silchar plant
- Setting up 42 MW solar power plant in Assam
- Land acquisition in Umrangso, Bihar, and Jorhat
- Bihar grinding plant (2 million tons) planned to improve utilization; estimated CAPEX approx. Rs. 500 crores including land.
- Rajasthan expansion (Nimbol - 3 million tons clinker, 4 million tons grinding) projected CAPEX around Rs. 2,400-2,500 crores (final confirmation pending).
- Silchar plant expected to commission by January next year; Jorhat project potentially deferred, focus shifted to Bihar plant due to attractive SGST incentive (300%).
- Land acquired and groundwork underway for Umrangso clinker plant targeting FY28-29, capacity and start timeline dependent on demand.
2 more points from Star Cement Ltd's call on capex
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Top-ranked in Cement & Cement Products
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
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Star Cement Ltd — Quarterly revenue & net profit
Star Cement Ltd Q2 FY26 results — key figures
| ₹ Cr | Q2 FY26 | Q2 FY25 | YoY | Q1 FY26 | QoQ |
|---|---|---|---|---|---|
| Revenue | 811 | 642 | +26.3% | 912 | -11.1% |
| Operating profit (EBITDA) | 190 | 96 | +97.9% | 228 | -16.7% |
| Operating margin | 23% | 15% | +8 pp | 25% | -2 pp |
| Profit before tax | 92 | 8 | +1050% | 135 | -31.9% |
| Net profit (PAT) | 71 | 6 | +1083.3% | 98 | -27.6% |
| EPS (₹) | 1.78 | 0.14 | +1171.4% | 2.44 | -27% |
Source: reported quarterly figures (Screener), ₹ crore.
Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹831 Cr, net profit ₹40 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Star Cement's management said in earlier quarters
Others in Cement & Cement Products this season
- UltraTech Cement (Q2 FY26)
The company recorded volume growth of 6.8% including acquired assets, and 9.6% excluding India Cements. Key concall takeaways from UltraTech Cement Ltd's Q2…
- Prism Johnson (Q2 FY26)
RQBE): ₹1,731 Crores, up 12.6% YoY (Page 21, 22) . Key concall takeaways from Prism Johnson Ltd's Q2 FY26 earnings call — and how it ranks against sector peers.
- The Ramco Cement (Q2 FY26)
Revenue for 2QFY26 stood at ₹2,241.89 Cr (Standalone) and ₹2,245.28 Cr (Consolidated), up 9% YoY from ₹2,049.50 Cr (Standalone) and ₹2,053.94 Cr (Consolidated)…
- Nuvoco Vistas (Q2 FY26)
Customer portal now handles over 95% of total orders, enabling real-time order management and increased transparency. Key concall takeaways from Nuvoco Vistas…
Potential multibaggers · Q2 FY27
Potential multibaggers in Cement & Cement Products
on management's own guidance
- J K CementsGood growth2
- Strong growth1
- ACCGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Star Cement Ltd Q2 FY26 results?
For FY27, Star Cement expects around 12% volume growth, mainly due to ramping up of the Siliguri plant, despite no entry into new geographies. Star Cement targets reaching 18-20 million tons capacity by FY29-FY30, supporting volume growth.
What is Star Cement Ltd share price analysis?
Star Cement Ltd currently shows a neutral. The stock trades at a P/E of 20.6 with a market cap of ₹8,268 Cr. Investors should review the full earnings analysis for detailed insights.
Is Star Cement Ltd planning capital expenditure?
FY26 CAPEX planned around Rs. 710-720 crores, including:.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.