NCL Industries Cement Production Rises 22% in Second Quarter of FY27

NCL Industries reported a 22% year-on-year increase in cement production during the September quarter, supported by higher output and dispatches. However, weaker performance in its cement boards, ready-mix concrete and hydropower businesses presented a mixed operating picture for the company.

The Hyderabad-based company produced 781,056 tonnes of cement in the quarter ended September 30, 2026, compared with 640,435 tonnes in the corresponding period last year. Cement dispatches followed a similar trend, rising 22% to 779,428 tonnes, indicating stronger volumes across its core cement business.

First-Half Cement Production Records Double-Digit Growth

NCL Industries also reported growth in cement production and dispatches during the first half of the 2026–27 financial year. Production increased 16% year-on-year to 1,473,970 tonnes, while dispatches rose 15% to 1,459,975 tonnes.

The figures indicate that cement remained the company’s strongest-performing business segment during the reporting period. Higher production and dispatch volumes suggest improved operating momentum, although the available data does not specify the contribution of pricing, regional demand or individual markets to the increase.

Cement Boards Business Shows Mixed Performance

The company’s cement boards division recorded contrasting results across quarterly and half-year periods. Production increased 22% sequentially to 13,071 tonnes in the September quarter.

However, the segment’s first-half production declined 12% to 24,710 tonnes, compared with 28,104 tonnes in the corresponding period a year earlier. The decline indicates that the improvement during the quarter has not yet translated into growth across the first six months of the financial year.

### Ready-Mix Concrete and Hydropower Output Decline

NCL Industries’ ready-mix concrete (RMC) business faced pressure during the quarter. Production and sales fell 10% to 59,882 cubic metres in the second quarter. On a half-year basis, the segment recorded an 18% decline.

Hydropower generation also weakened, falling 43% to 9.22 million units during the quarter and across the first half, according to the reported figures. The available information does not identify the specific factors behind the decline.

NCL Industries Shares Close Lower

NCL Industries shares closed at ₹160.54 on October 8, 2026, down 2.07% from the previous closing price of ₹163.93. The stock has declined more than 22% over the past year, compared with an approximately 11% fall in the broader market. The company’s market capitalisation stood at around ₹726 crore.

The latest operating update highlights strong cement volume growth alongside weakness in other business segments. Investors will likely monitor whether the cement momentum continues and whether cement boards, RMC and hydropower performance improves in the coming quarters.