Star Cement Q3 FY26: Capex ₹431 Cr
Q3 FY26 earnings call: what management said on revenue, margins and capex.
- Revenue
- ₹880Cr
- +22.4% YoY
- +8.5% QoQ
- Net profit
- ₹74Cr
- +722.2% YoY
- +4.2% QoQ
- Margin
- 23%
- +9 pp YoY
- 0 pp QoQ
Guidance rank: #13 of 17 in Cement & Cement Products
See the sector's top 10 — free with your mobile number.
Star Cement Ltd Q3 FY26 key numbers
- Revenue
- New North India expansions include a 3 million ton integrated plant and a grinding unit in Haryana; entry planned cautiously at moderate capacity.
As stated in Star Cement Ltd's Q3 FY26 earnings call transcript · published 8 Aug 2026. Reported figures, not investment advice.
The short version
Volume guidance for FY26 remains around 5.3 million tons with expected 8-12% YoY growth in Q4. Management expects Star Cement’s sustainable EBITDA per ton to be in the range of Rs. 1,300 to Rs. 1,400 going forward, maintaining prior guidance despite new expansions.
From Star Cement Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Volume guidance for FY26 remains around 5.3 million tons with expected 8-12% YoY growth in Q4.
- Expansion plans include commissioning Bihar grinding unit before Umrangso; Bihar plant will initially utilize clinker from Meghalaya units.
- New North India expansions include a 3 million ton integrated plant and a grinding unit in Haryana; entry planned cautiously at moderate capacity.
- Non-cement business expected to grow from about ₹45 crore revenue in FY26 to ₹100 crore next year, with 20% EBITDA margin.
- Sustained EBITDA per ton expected: overall Star Cement targeted at ₹1,300-1,400 long term; North region around ₹1,000-1,100; Rajasthan around ₹1,000.
2 more points from Star Cement Ltd's call on revenue
Create a free account to keep reading this call
Profitability & Margins
Management expects Star Cement’s sustainable EBITDA per ton to be in the range of Rs. 1,300 to Rs. 1,400…
Locked: what Star Cement Ltd said on margins
Also locked on this page: fundraising, order book
Free account, 30 seconds. No card needed.
Capital Expenditure Plans
- Ongoing and planned expansions include:
- Rajasthan Project: 3 million tons clinker plant + 3 million tons grinding unit at Nimbol (land acquisition in progress, EC expected by Sept-Oct).
- Haryana grinding unit: 2 million tons grinding unit planned.
- Bihar Grinding Unit: 2 million tons grinding unit (land acquisition phase).
- Umrangso Clinker Plant in Assam: EC application underway, commissioning expected around FY29.
- Total CAPEX for four projects is approximately ₹4,800 crore, with commissioning expected around H2 FY29 to early FY30.
- CAPEX spending so far is ₹431 crore, with ~₹150 crore planned in Q4 FY26.
- Broad cost estimate for Rajasthan clinker and grinding plants plus Haryana grinding unit is ₹2,400-2,500 crore (subject to ±10% deviation).
2 more points from Star Cement Ltd's call on capex
Create a free account to keep reading this call
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
Star Cement aims to keep its debt-to-EBITDA ratio below 1.5x.
Locked: what Star Cement Ltd said on fundraising
Also locked on this page: margins, order book
Free account, 30 seconds. No card needed.
Order Book & Pipeline
See what Star Cement Ltd said on order book & pipeline — free account, 30 seconds.
Star Cement Ltd — Quarterly revenue & net profit
Star Cement Ltd Q3 FY26 results — key figures
| ₹ Cr | Q3 FY26 | Q3 FY25 | YoY | Q2 FY26 | QoQ |
|---|---|---|---|---|---|
| Revenue | 880 | 719 | +22.4% | 811 | +8.5% |
| Operating profit (EBITDA) | 202 | 104 | +94.2% | 190 | +6.3% |
| Operating margin | 23% | 14% | +9 pp | 23% | 0 pp |
| Profit before tax | 99 | 8 | +1137.5% | 92 | +7.6% |
| Net profit (PAT) | 74 | 9 | +722.2% | 71 | +4.2% |
| EPS (₹) | 1.85 | 0.22 | +740.9% | 1.78 | +3.9% |
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.
Full financials →Continue your research
What Star Cement's management said in earlier quarters
Others in Cement & Cement Products this season
- Prism Johnson (Q3 FY26)
Consolidated Revenue Q3 FY26: ₹1,759 Cr, up 5.9% YoY** (Page 35) . Key concall takeaways from Prism Johnson Ltd's Q3 FY26 earnings call — and how it ranks…
- The Ramco Cement (Q3 FY26)
Standalone: ₹2,119.10 Cr (7% YoY increase from ₹1,987.83 Cr in 3QFY25) [Page 15] . Key concall takeaways from The Ramco Cements Ltd's Q3 FY26 earnings call…
- JSW Cement (Q3 FY26)
Total volume sold grew 12.1% YoY to 9.98 mn MT in 9M FY26. Key concall takeaways from JSW Cement Ltd's Q3 FY26 earnings call — and how it ranks against sector…
- Nuvoco Vistas (Q3 FY26)
Emphasis on premium products (premiumization mix rising from 34% to 44%) to improve realizations and profitability. Key concall takeaways from Nuvoco Vistas's…
Potential multibaggers · Q2 FY27
Potential multibaggers in Cement & Cement Products
on management's own guidance
- J K CementsGood growth2
- Strong growth1
- ACCGood growth3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Arthneeti Pro · Annual
Star Cement Ltd and 15K+ more earnings calls,
for less than your morning chai
Every earnings call, ranking and concall Q&A across all four results seasons.
Secure Razorpay payment · instant access
Frequently Asked Questions
What were Star Cement Ltd Q3 FY26 results?
Volume guidance for FY26 remains around 5.3 million tons with expected 8-12% YoY growth in Q4. Management expects Star Cement’s sustainable EBITDA per ton to be in the range of Rs. 1,300 to Rs. 1,400 going forward, maintaining prior guidance despite new expansions.
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?
Ongoing and planned expansions include: - Rajasthan Project: 3 million tons clinker plant + 3 million tons grinding unit at Nimbol (land acquisition in progress, EC expected by Sept-Oct).
Keep Star Cement Ltd on your radar — track it to get its next earnings analysis in your feed.
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.