Shri Keshav Cements and Infra Limited announced its unaudited financial results for the third quarter ended December 31, 2025, demonstrating robust revenue growth despite quarterly profitability challenges. The company's Board of Directors approved the results at their meeting held on February 13, 2026.

Strong Revenue Performance Across Segments

The company reported impressive revenue growth across its business segments during Q3FY26. Total revenue from operations reached Rs. 3,792.99 lakhs, marking a significant 35% increase compared to Rs. 2,810.19 lakhs in the corresponding quarter of the previous year.

The cement segment emerged as the primary growth driver, contributing Rs. 3,117.52 lakhs in revenue compared to Rs. 2,145.25 lakhs in Q3FY25. The solar energy segment experienced a marginal decline, while the petrol and diesel segment showed steady growth.

Quarterly Profitability Challenges

Despite strong revenue performance, the company faced profitability pressures during the quarter. The company reported a net loss of Rs. 54.45 lakhs in Q3FY26, contrasting with a profit of Rs. 63.89 lakhs in Q3FY25. This decline was primarily attributed to increased operational expenses and higher tax provisions.

The company's total expenses increased to Rs. 3,792.08 lakhs from Rs. 2,999.87 lakhs, with significant increases in finance costs (Rs. 636.62 lakhs vs Rs. 530.06 lakhs) and other expenses (Rs. 542.98 lakhs vs Rs. 306.92 lakhs).

Nine-Month Performance Shows Recovery

The nine-month period ended December 31, 2025, presented a more positive picture for the company. Revenue from operations reached Rs. 11,404.89 lakhs, representing a 37% increase from Rs. 8,302.43 lakhs in the corresponding period of the previous year.

The company achieved a turnaround in nine-month profitability, posting a net profit of Rs. 323.45 lakhs compared to a loss of Rs. 176.11 lakhs in 9MFY25. This performance improvement reflects the company's operational efficiency gains and market recovery.

Segment-wise Results Analysis

The cement segment demonstrated strong operational performance with segment results of Rs. 291.30 lakhs in Q3FY26, though lower than the previous quarter's Rs. 427.98 lakhs. For the nine-month period, cement segment results reached Rs. 1,216.62 lakhs, significantly higher than Rs. 61.95 lakhs in the previous year.

The solar energy segment showed mixed performance with Q3FY26 results of Rs. 105.86 lakhs compared to Rs. 65.82 lakhs in Q3FY25. However, nine-month results declined to Rs. 38.18 lakhs from Rs. 131.84 lakhs in the previous year.

Key Performance Highlights

The company highlighted several operational achievements in its results announcement:

• Q3FY26 year-on-year sales, EBITDA, and dispatches increased by 35%, 53%, and 35% respectively
• Nine-month FY26 year-on-year sales, EBITDA, and dispatches grew by 37%, 56%, and 43% respectively
• Nine-month FY26 EBITDA margin improved by 14% compared to 9MFY25

The Audit Committee reviewed the results, and the Board of Directors approved them at their meeting held on February 13, 2026. The company's paid-up equity share capital remained stable at Rs. 1,751.28 lakhs with a face value of Rs. 10 per share.

Shri Keshav Cement & Infra has announced the successful completion of its major expansion project, marking a significant milestone in the company's growth trajectory. The expansion has boosted the company's total cement production capacity to 1 million Tonnes Per Annum (TPA), with commercial operations commencing on November 29, 2025.

Key Highlights of the Expansion

• Capacity Increase: Total cement production capacity now stands at 1 million TPA
• Commercial Operations: Commenced on November 29, 2025
• Market Reach: Enhanced ability to serve North Karnataka, Coastal Karnataka, Goa, Maharashtra, and neighboring regions
• Customer Base: Strengthened position to cater to larger institutional and retail customers

Strategic Implications

The expansion is poised to have several strategic benefits for Shri Keshav Cement & Infra:

1. Market Presence: The increased capacity allows the company to scale its market presence significantly.
2. Demand Fulfillment: Better equipped to meet the rising demand for cement across multiple regions.
3. Customer Segmentation: Enhanced ability to serve both large institutional clients and retail customers.
4. Infrastructure Support: Well-positioned to support the growing demand from infrastructure development, housing, and commercial construction sectors.

Industry Context

This expansion comes at a time when the Indian cement industry is experiencing robust growth, driven by government initiatives in infrastructure development and housing. Shri Keshav Cement & Infra's increased capacity aligns well with the industry trends and positions the company to capitalize on these opportunities.

Company Background

Shri Keshav Cement & Infra, formerly known as Katwa Udyog Limited, was incorporated in 1993. The company is engaged in the manufacturing of cement and solar power generation and distribution in Karnataka, India. With this expansion, the company continues to strengthen its position in the regional cement market.

While specific financial figures are not available at this time, the expansion to 1 million TPA capacity is expected to have a positive impact on the company's future revenue and market share. Investors and industry observers will be keen to watch how this increased capacity translates into financial performance in the coming quarters.

As the cement sector continues to play a crucial role in India's infrastructure development, Shri Keshav Cement & Infra's expansion represents a strategic move to capture a larger share of this growing market.