Nuvoco Vistas Corp targets over ₹13,000 crore revenue in FY27 as cement volumes gain momentum

By the time the calendar flips to April 2027, Nuvoco Vistas Corp Ltd is gunning for a revenue headline that tops the ₹13,000 crore mark. It’s a bold call, but the firm’s managing director, Jayakumar Krishnaswamy, seems confident – he’s backed the outlook with a clear‑cut plan to grow cement volumes by 7‑8% year‑on‑year.

Last fiscal year the company posted ₹11,338.29 crore in revenue, a 9.47% rise from the previous twelve months. Cement sales that year hit roughly 20.4 million tonnes. For FY27, the target is to push that figure beyond 22 million tonnes, a modest but meaningful jump that should feed the top‑line ambition.

What’s powering the volume lift? A mix of integration work from the recently acquired Vadraj Cement assets and a series of debottlenecking projects across eastern India. The company says those steps are already bearing fruit – the first quarter of FY27 saw a 5% rise in volumes, taking output to 5.3 million tonnes. Yet the growth wasn’t without hiccups. Logistical snarls – rail rakes being redirected to power plants and a diesel shortage in Chhattisgarh – clipped sales in the region, the MD admitted.

To translate the higher sales into even larger capacity, Nuvoco has laid out a ₹1,850 crore capital‑expenditure programme spread over FY27 and FY28. Roughly ₹900 crore will be spent this year, with another ₹950 crore slated for the following year, taking total installed capacity to 35 million tonnes per annum. That is a step up from the ₹712 crore capex spend recorded in FY26.

Debt is another piece of the puzzle. As of June 2026, net debt sat at about ₹4,550 crore. The company is keen to trim that figure to somewhere between ₹3,500 crore and ₹4,000 crore by the end of FY28, a move that should tighten the balance sheet and free up cash for the expansion drive.

Looking beyond FY28, senior officials have hinted at two possible sites for the next wave of growth – a brownfield expansion at Chittorgarh in Rajasthan or a greenfield greenfield project in Gulbarga, Karnataka. The final call will hinge on market dynamics and the success of the current expansion thrust.

All told, Nuvovo’s roadmap for the next few years feels ambitious but grounded in concrete projects. If the cement market keeps humming and the logistical glitches smooth out, crossing the ₹13,000 crore threshold could well be within reach.