Any current/future new fundraising through debt or equity?

No major new fundraising through debt or equity is planned in the current financial year. CapEx plans are being funded through existing cash flows and current debt levels. Net debt target for the end of the financial year is around ₹1,250 to ₹1,300 crore, with gross debt not expected to increase beyond current levels. Land monetisation proceeds are not factored into current year's cash flows and any potential cash inflow from this is likely post current financial year. Financing for certain CapEx projects like waste heat recovery is pending clarity, but no immediate new debt raising is indicat

Any current/future capex/capital investment/strategic investment?

Ongoing CapEx includes solar and brownfield capacity ramp-ups at Dachepalli, Gudipadu, and Jeerabad, with about ₹33 crore spent in Q1 FY25. Specific renewable energy targets: - 6 MW solar at Gudipadu and Dachepalli by FY25. - 4 MW solar at Mattampally by FY27. - Waste heat recovery at Gudipadu (4 MW) by FY27 and Mattampally (2 MW) by FY28. Commitment to achieve 60% renewable power in the total electrical energy portfolio by FY30. Investment at Dachepalli geared towards increasing efficiency via new generation preheater, upgrading pyro system, and grinding circuit improvements rather tha

Future growth expectations in sales/revenue/volumes?

The company expects a flat to slightly positive growth in volumes by the end of the year, recovering from a 20% year-on-year decline in Q1 caused by elections and weather issues (Page 10). Andhra Pradesh and Telangana industry capacity utilization is around 45-50%, expected to improve as demand picks up, possibly reaching previous high levels in the current fiscal year (Page 10). Ramp-up of new grinding units (e.g., My Home line, Shree Cements, Dalmia) is ongoing, supporting future volume growth (Page 10). Expect full ramp-up of Andhra plant and breakeven by Q1 FY26, contributing positively to

Future growth expectations in earnings/operating earnings/profits/EPS?

Sagar Cements targets an absolute EBITDA of ₹350-375 crore for FY25, with Q1 and Q2 trends expected to continue and a slight improvement anticipated in H2. They expect EBITDA per tonne around ₹370-380, aiming for a full-year average of around ₹350 per tonne. The company aims for a breakeven at Andhra Cements by Q1 FY26 through volume ramp-up and optimization. Renewable energy initiatives (solar and waste heat recovery) are expected to reduce power costs, potentially improving EBITDA per tonne by ₹50-75 with increased green power usage. Net debt is targeted to be maintained between ₹1,250-1,300

Sagar Cements LtdQ1 FY25Cement & Cement Products

Sagar Cements Ltd Q1 FY25 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹150Market Cap: ₹2.0K CrSector: Cement & Cement Products

Management growth scorecard

Revenue

Category 4

Margin

Category 3

Fundraise

Order

N/A

Capex

Yes

1 of 4 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 4

The company expects a flat to slightly positive growth in volumes by the end of the year, recovering from a 20% year-on-year decline in Q1 caused by elections and weather issues (Page 10).
Andhra Pradesh and Telangana industry capacity utilization is around 45-50%, expected to improve as demand picks up, possibly reaching previous high levels in the current fiscal year (Page 10).
Ramp-up of new grinding units (e.g., My Home line, Shree Cements, Dalmia) is ongoing, supporting future volume growth (Page 10).
Expect full ramp-up of Andhra plant and breakeven by Q1 FY26, contributing positively to volumes and revenue (Page 15).
No major volume expansion planned in Andhra (cap utilization won't exceed 60% next 5 years); focus is on cost optimization rather than expansion (Page 18).
Robust effect of Amaravati development expected to increase industry utilization by 2.5-5% (250-500 bps), improving demand in surrounding districts (Page 21).

Margin guidance

Category 3

Sagar Cements targets an absolute EBITDA of ₹350-375 crore for FY25, with Q1 and Q2 trends expected to continue and a slight improvement anticipated in H2.
They expect EBITDA per tonne around ₹370-380, aiming for a full-year average of around ₹350 per tonne.
The company aims for a breakeven at Andhra Cements by Q1 FY26 through volume ramp-up and optimization.
Renewable energy initiatives (solar and waste heat recovery) are expected to reduce power costs, potentially improving EBITDA per tonne by ₹50-75 with increased green power usage.
Net debt is targeted to be maintained between ₹1,250-1,300 crore, indicating controlled leverage.
No major cost reduction is expected in the near term beyond current levels; CapEx focus includes renewable power and brownfield capacity expansion.
Land monetization progress may provide additional financial support, with milestones targeted in coming quarters.

See what Sagar Cements Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

No major new fundraising through debt or equity is planned in the current financial year.
CapEx plans are being funded through existing cash flows and current debt levels.
Net debt target for the end of the financial year is around ₹1,250 to ₹1,300 crore, with gross debt not expected to increase beyond current levels.
Land monetisation proceeds are not factored into current year's cash flows and any potential cash inflow from this is likely post current financial year.
Financing for certain CapEx projects like waste heat recovery is pending clarity, but no immediate new debt raising is indicated.
The company is limiting net debt and managing CapEx strictly within available resources without additional fundraising.

Order book

The provided transcript from Sagar Cements Limited's Q1 FY25 Earnings Conference Call does not explicitly mention details about the current, expected order book, or pending orders. The discussion mainly focuses on topics such as capacity utilization, lead distances, market dynamics including Amaravati demand, pricing, capex plans, clinker sales, renewable energy targets, and land monetization. Therefore, no specific information regarding the current or expected order book or pending orders is available on the provided pages. If this information is critical, you may want to check other sections of the report or contact the company directly for detailed order book data.

See what Sagar Cements Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

Ongoing CapEx includes solar and brownfield capacity ramp-ups at Dachepalli, Gudipadu, and Jeerabad, with about ₹33 crore spent in Q1 FY25.
Specific renewable energy targets:
- 6 MW solar at Gudipadu and Dachepalli by FY25.
- 4 MW solar at Mattampally by FY27.
- Waste heat recovery at Gudipadu (4 MW) by FY27 and Mattampally (2 MW) by FY28.
Commitment to achieve 60% renewable power in the total electrical energy portfolio by FY30.
Investment at Dachepalli geared towards increasing efficiency via new generation preheater, upgrading pyro system, and grinding circuit improvements rather than just expansion.
Anticipated annual cost savings of approximately ₹5 crore from commissioning 2x6 MW solar units at Gudipadu and Dachepalli.
Waste heat recovery system orders pending based on financing clarity, expected to provide cost benefits post-18 months of placement.

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