It had reported a net profit of ₹58.47 crore a year ago, according to a BSE filing by ICL, now a subsidiary of UltraTech Cement.
Its revenue from operations was marginally down at ₹1,024.74 crore in the June quarter of FY26. This was ₹1,026.76 crore in the corresponding quarter of the last fiscal.
The total expenses of ICL declined 12.43 per cent to ₹1,042.19 crore in the first quarter of FY26.
ICL’s total income, which includes other income, in the June quarter was marginally down at ₹1,033.85 crore.
UltraTech, the country’s leading cement maker, acquired the promoter’s stake in the South-based cement maker. Consequently, ICL became a subsidiary of UltraTech Cement, with effect from December 24, 2024.
“PAT before onetime exceptional items was a negative ₹9.13 crore compared to negative ₹182.21 crore over the same period last year,” said an earnings statement by the company.
It has refinanced its debt, resulting in a significant reduction in finance costs to ₹26.58 crore from ₹82.36 crore in the corresponding quarter of the previous year.
According to ICL, it is “deriving benefits of synergy” with its holding company, UltraTech, which will improve its efficiency.
“The company is planning a capital expenditure programme over the next 2 years for improving efficiency and reducing operating costs, increasing the share of renewable power and improving safety standards,” said ICL.
It further added that its profitability is expected to improve further as the benefit of this capex programme starts flowing together with synergies from economies of scale, wider distribution network and stronger balance sheet.
On the outlook, ICL said, it “is poised to grow stronger. Increasing government spending on infrastructure and the improvement in demand in housing markets will further boost the performance of the company”.
