Shree Digvijay Cement swings to ₹16.3 Cr consolidated loss in Q2 FY27 on cost surge

Shree Digvijay Cement swung to a consolidated net loss of ₹16.28 Cr in Q2 FY27 (EPS -₹1.10), reversing a ₹10.22 Cr profit a year ago and a ₹6.82 Cr profit last quarter, even as revenue rose 73.1% YoY to ₹279.31 Cr (down 17.2% QoQ on normal seasonality against Q1's pre-buying). Standalone and consolidated numbers are effectively identical — the only subsidiary, SDCCL Logistics, is immaterial to the group — so there is no basis-divergence to flag. The swing is a margin story: EBITDA turned negative to -₹1.30 Cr (margin -0.5%) from +₹20.48 Cr (12.7%) a year ago and an implied ~₹29 Cr (8.66%) last quarter. A large share is a disclosed one-off — ₹14.91 Cr of the ₹19.30 Cr H1 annual-shutdown cost landed in this quarter alone, versus nil a year ago (Note 3). But stripping that out still leaves an estimated ₹5 Cr loss against last year's ₹10.22 Cr profit, so underlying weakness extends beyond the shutdown. Finance costs added to the pressure, jumping to ₹11.29 Cr from ₹0.63 Cr a year ago (+1,693%), in line with standalone non-current borrowings of ₹442.57 Cr as of Sep-26. Volume still grew to 5.10 lakh tonnes from 2.96 lakh tonnes, with 212,549 MT sold this quarter under the Hi-Bond brand-usage/distributorship agreement (nil a year ago) — the main driver of the revenue jump despite the bottom-line miss. There is no prior management guidance on record and no Q2 FY27-specific street estimate found in a web search (only older Q2 FY26 and generic 12-month target data turned up), so vs-street and vs-guidance verdicts are unknown rather than inferred. Management's own press release attributes the pressure to geopolitical disruption to global supply chains raising fuel, packaging and logistics costs, and frames the completed annual shutdown as leaving the plant "prepared to meet higher market demand" — consistent with the quarter's cost spike but not yet visible in the numbers. The result is also the first signed off by new MD & CEO Amit Arora, who took charge for a five-year term on 16 September 2026, three days after the half-year close.