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Informist, Tuesday, Jan. 13, 2026

By Pallavi Singhal

NEW DELHI – Nuvoco Vistas Corp. Ltd. is expected to post a net profit in the December quarter against a loss in the year-ago quarter, driven by higher volumes, according to brokerages. The cement maker is expected to post a standalone net profit of INR 492.5 million in the December quarter, according to the average of six estimates from brokerages. The company had posted a loss of INR 441.5 million in the year-ago quarter and a profit of INR 325.3 million in the trailing quarter, implying a sequential rise of over 51%.

The company's net sales are estimated at INR 27.5 billion, according to the average of estimates, up over 36% from the year-ago quarter and 28% from the trailing quarter. The highest estimate for the December quarter net profit is INR 900 million from Systematix Shares and Stocks (India) Ltd. and the lowest is INR 216 million by Nomura Equity Research. The highest estimate for net sales is INR 28.60 billion from Systematix and the lowest estimate is INR 26.64 billion by Nomura.

Nuvoco's earnings improvement in the December quarter is likely driven by higher cement volumes, according to Nomura. Volumes rose 4% on year and 14% on quarter to 4.9 million tonnes, lifting total operating profit despite weaker pricing. Cement realisations fell 4% sequentially but rose 6% on year, along with a rise in freight and other input costs, which led to a decline in earnings before interest, tax, depreciation, and amortisation per tonne. However, the sharp sequential increase in volumes helped offset the pressure from lower prices and higher costs, keeping overall profitability resilient, Nomura said.

The company's earnings before interest, tax, depreciation, and amortisation are expected to rise significantly year on year, driven by higher volumes. The company's EBITDA for the December quarter is estimated at INR 3.85 billion, according to the average of estimates. The highest EBITDA estimate is INR 4.50 billion by Systematix and the lowest is INR 3.48 billion by Nomura. Nomura has projected EBITDA to rise 35% on year.

Nuvoco is a cement producer with a strong presence in eastern India. The company operates an installed cement capacity of over 25 million tonnes per annum, along with ready-mix concrete and modern building materials businesses. Nuvoco's capacity accounts for about 3.5% of the country's total cement installed capacity of 700 million tonnes per annum.

Tuesday, the company's shares ended 1.2% higher at INR 352.90 on the National Stock Exchange. Nuvoco Vistas is scheduled to announce its Oct-Dec earnings on Thursday. Shares of the company have fallen roughly 17% since it announced its September-quarter earnings.

Of the 12 brokerage reports available on the company, 10 have a ‘buy' rating, with an average target price of INR 491, 39% above the current market price. One brokerage has a 'hold' recommendation, and one has a 'sell' recommendation.

Following are the Oct-Dec earnings estimates for Nuvoco Vistas from six brokerage firms in descending order by the estimate of net profit, in INR million:

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Edited by Saji George Titus

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