Integrated Filing — IndAS



General information about company

Scrip Code 543334
NSE Symbol NUVOCO
MSEI Symbol NOTLISTED
ISIN INE118D01016
Name of company Nuvoco Vistas Corporation Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2026
Date of end of financial year 31-03-2027
Date of board meeting when results were approved 13-07-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 26-06-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter First quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 13-07-2026   18:45:00
End date and time of board meeting 13-07-2026   19:45:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2026 01-04-2026
B Date of end of reporting period 30-06-2026 30-06-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 3,12,871.00 3,12,871.00
Other income 361.00 361.00
Total income 3,13,232.00 3,13,232.00
2 Expenses
(a) Cost of materials consumed 46,388.00 46,388.00
(b) Purchases of stock-in-trade 10,845.00 10,845.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (5,012.00) (5,012.00)
(d) Employee benefit expense 19,705.00 19,705.00
(e) Finance costs 7,028.00 7,028.00
(f) Depreciation, depletion and amortisation expense 22,555.00 22,555.00
(f) Other Expenses
1 Power and fuel 55,961.00 55,961.00
2 Freight and forwarding charges 83,829.00 83,829.00
3 Other expenses 44,331.00 44,331.00
Total other expenses 1,84,121.00 1,84,121.00
Total expenses 2,85,630.00 2,85,630.00
3 Total profit before exceptional items and tax 27,602.00 27,602.00
4 Exceptional items 0.00 0.00
5 Total profit before tax 27,602.00 27,602.00
6 Tax expense
7 Current tax 9,004.00 9,004.00
8 Deferred tax 2,635.00 2,635.00
9 Total tax expenses 11,639.00 11,639.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 15,963.00 15,963.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 15,963.00 15,963.00
17 Other comprehensive income net of taxes (165.00) (165.00)
18 Total Comprehensive Income for the period 15,798.00 15,798.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 15,976.00 15,976.00
Total profit or loss, attributable to non-controlling interests (13.00) (13.00)
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 15,811.00 15,811.00
Total comprehensive income for the period attributable to owners of parent non-controlling interests (13.00) (13.00)
21 Details of equity share capital
Paid-up equity share capital 35,716.00 35,716.00
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 4.47 4.47
Diluted earnings (loss) per share from continuing operations 4.47 4.47
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 4.47 4.47
Diluted earnings (loss) per share from continuing and discontinued operations 4.47 4.47
24 Debt equity ratio 0.4500 0.4500
25 Debt service coverage ratio 1.6900 1.6900
26 Interest service coverage ratio 5.9200 5.9200
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1.These unaudited Consolidated Financial Results of Nuvoco Vistas Corporation Limited (“Holding Company”) have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at its meetings held on July 13, 2026. The statutory auditors of the Holding Company have carried out limited review of the aforesaid results. 2.(a) The above Statement has been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 ‘Interim Financial Reporting’, prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules thereunder and in terms of Regulation 33 and Regulation 52 read with Regulation 63(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended. 2.(b) The figures for three months ended March 31, 2026 are arrived at as difference between audited figures in respect of the full financial year and the unaudited published figures up to nine months ended for December 31, 2025. 3.In August 2016, the Competition Commission of India (CCI) passed an Order levying a penalty of Rs. 490.00 crores on the Holding Company in connection with a complaint filed by the Builders Association of India against leading cement companies (including the Holding Company) for alleged violation of certain provisions of the Competition Act, 2002. The Holding Company had filed an appeal against the Order before the Competition Appellate Tribunal (COMPAT). The COMPAT had passed an interim order directing the Holding Company to pre-deposit 10% of the penalty amount. COMPAT was replaced by the National Company Law Appellate Tribunal (NCLAT) effective May 26, 2017, and NCLAT vide its judgment dated July 25, 2018, dismissed the Holding Company’s appeal. Against the above judgment of NCLAT, an appeal is filed before the Hon’ble Supreme Court, and vide its order dated October 5, 2018, the Hon’ble Supreme Court admitted the appeal of the Holding Company and directed continuation of the interim order as originally passed by the COMPAT. The appeal is still pending. The Holding Company under the Share Purchase Agreement (“SPA”) is indemnified by erstwhile promoter group for any liability arising out of CCI. However, the erstwhile promoter had disputed their obligation towards indemnification of any amount including interest beyond the cap of Rs. 490.00 crores. Based on the reimbursable rights available with the Holding Company duly backed by legal opinion, no provision against the CCI order of Rs. 490.00 crores or interest thereon is considered necessary. 4.(a) The Holding Company availed Industrial Promotional Assistance for its Mejia Cement Plant (MCP) from the Government of West Bengal under the West Bengal Incentive Scheme 2004 with effect from April 23, 2008. The authorities disputed the claim of the Holding Company, pursuant to which, the Holding Company had filed a writ petition against the Industry, Commerce & Enterprise Department, Government of West Bengal during the year 2017-18 in the Hon’ble High Court of Calcutta (High Court). The matter is sub judice before the High Court. The Holding Company on a conservative basis discontinued the accrual of such incentives in the books from April 1, 2019, on account of ongoing litigation. The Holding Company carried provision of Rs. 238.22 crores as on March 31, 2025 determined on the basis of Expected Credit Loss methodology as per Ind AS 109 “Financial Instruments”. 4.(b) The subsidiary company NU Vista Limited (“NVL”) had applied for Industrial Promotional Assistance related to its Panagarh Cement Plant (PCP) under the West Bengal State Support for Industries Scheme, 2013 (WBSSIS, 2013) and had been granted preliminary registration certificate (RC-I) as an eligible unit on June 27, 2017. Grant of final registration certificate (RC-II) is pending. In view of long pendency of the matter and inaction on the part of the concerned state authorities, the subsidiary company had filed writ petition before Hon’ble High Court of Calcutta (High Court). On December 8, 2022, the High Court had passed an order stating that the subsidiary company had complied with all the requirements in clause 5.3 of the policy for issuance of RC-II and directed the West Bengal Industrial Development Corporation (WBIDC) to issue the RC-II. The subsidiary company had filed an execution application for enforcement of the aforesaid order, which was disposed of by the High Court on May 17, 2024 directing the state authorities to grant RC-II in favour of the subsidiary company. The state authorities have filed an appeal against said orders with Divisional Bench of High Court. On conservative basis, the subsidiary company has discontinued the accrual of such incentive in the books of account from April 1, 2023. The subsidiary company carried provision of Rs. 167.58 crores as on March 31, 2025 determined on the basis of Expected Credit Loss methodology as per Ind AS 109 “Financial Instruments”. 4.(c) With reference to (a) and (b) above, the West Bengal Government vide notification dated April 2, 2025 enacted the Revocation of West Bengal Incentive Schemes and Obligations in the Nature of Grants and Incentives Act, 2025 (Revocation Act) which retrospectively withdraws, rescinds, revokes, and discontinues all the incentive schemes which were introduced during the period 1993 to 2021. The Holding Company and NVL together have been advised by the legal counsel that enactment of the Revocation Act is ultra vires and unconstitutional. Accordingly, a writ petition has been filed by the Holding Company on June 16, 2025, and by NVL on June 13, 2025 before the Hon’ble High Court of Calcutta challenging the constitutional validity of the Revocation Act, which is pending. 5.During the quarter ended September 30, 2025, the Holding Company had reassessed the estimates relating to the useful life of “Trademarks” (intangible assets) recognised during the acquisition of NU Vista Limited (erstwhile Emami Cement Limited). Accordingly, the balance written down value of said Trademarks has been amortised over the revised remaining useful life from the date of change. Hence, corresponding previous period numbers of amortisation charge are not comparable with that of the current period. 6.As required under Regulation 52(7) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, it is hereby confirmed that the Holding Company had issued non-convertible debentures (NCD) during the quarter ended September, 2025 and had fully utilised the issue proceeds during the quarter ended December, 2025, for the purpose stated in the Offer Document. Further, no NCD has been issued during the quarter and hence the disclosure requirement under the said Regulation is not applicable for the current quarter.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2026 01-04-2026
Date of end of reporting period 30-06-2026 30-06-2026
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Cement 2,86,184.00 2,86,184.00
2 Ready Mix Concrete and Others 27,970.00 27,970.00
Total Segment Revenue 3,14,154.00 3,14,154.00
Less: Inter segment revenue 1,283.00 1,283.00
Revenue from operations 3,12,871.00 3,12,871.00
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Cement 34,737.00 34,737.00
2 Ready Mix Concrete and Others (468.00) (468.00)
Total Profit before tax 34,269.00 34,269.00
i. Finance cost 7,028.00 7,028.00
ii. Other Unallocable Expenditure net off Unallocable income (361.00) (361.00)
Profit before tax 27,602.00 27,602.00
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Cement 19,85,562.00 19,85,562.00
2 Ready Mix Concrete and Others 87,009.00 87,009.00
Total Segment Asset 20,72,571.00 20,72,571.00
Un-allocable Assets 19,657.00 19,657.00
Net Segment Asset 20,92,228.00 20,92,228.00
4 Segment Liabilities
Segment Liabilities
1 Cement 5,16,926.00 5,16,926.00
2 Ready Mix Concrete and Others 40,938.00 40,938.00
Total Segment Liabilities 5,57,864.00 5,57,864.00
Un-allocable Liabilities 4,95,689.00 4,95,689.00
Net Segment Liabilities 10,53,553.00 10,53,553.00
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2026 01-04-2026
B Date of end of reporting period 30-06-2026 30-06-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurement loss on defined benefit plans (77.00) (77.00)
Total Amount of items that will not be reclassified to profit and loss (77.00)
2 Income tax relating to items that will not be reclassified to profit or loss (26.00) (26.00)
3 Amount of items that will be reclassified to profit and loss
1 Net change in fair value of derivatives designated as cash flow hedges (175.00) (175.00)
Total Amount of items that will be reclassified to profit and loss (175.00)
4 Income tax relating to items that will be reclassified to profit or loss (61.00) (61.00)
5 Total Other comprehensive income (165.00) (165.00)