Star Cement earnings calls.

Star Cement reported a weak Q1 FY27 with EBITDA declining 11.7% YoYCurrent reported value: EBITDA declining 11.7% YoY. No comparable prior figure is available in the source record. to ₹203Current 203 crore vs previous available quarter 127 crore. crore and PAT dropping 24.5% YoYCurrent reported value: 24.5% YoY. No comparable prior figure is available in the source record. to ₹74Current reported value: 74. No comparable prior figure is available in the source record. crore, impacted by a 40 crore GST-related subsidy hitCurrent reported value: 40 crore GST-related subsidy hit. No comparable prior figure is available in the source record. and elevated fuel costs. EBITDA margin compressed by 526bps YoY to 21.9%, though volumes grew 6.5% YoY (cement sales at 13.02 lakh tonnesCurrent 13.02 lakh tonnes. Reported change: +6.5% YoY.). Management flagged headwinds from Assam floods and muted demand in Q2 but expects pent-up demand recovery in Q3-Q4. Fuel cost rose sharply to 1.55 (from 1.24 in Q4) due to coal diversion to power plants; guidance is to bring it down to 1.45 in Q2. Full-year volume growth guidance was revised down from 11-12% to 8-9%Current reported value: 8-9%. No comparable prior figure is available in the source record. citing SAM floods and weak demand. Rajasthan project (3MT clinker + 3MT grinding) remains on track for Q1 FY29 with EC expected by October 2026. Incentive income guidance trimmed to ₹115 crore from ₹145 crore due to Assam government policy change amortizing subsidy over 12 years. Key risks: competitive intensity from Dalmia, fuel price volatility, and extended weak demand in core northeast market.