Shares of Nuvoco Vistas Corp Ltd gained nearly 8 percent on Tuesday after the cement maker reported a 20 percent year-on-year rise in fiscal first quarter profit and highlighted progress on its capacity expansion plans.


The stock climbed as much as 7.7 percent to Rs 341 in afternoon trade, making it one of the top gainers in the smallcap space. The rally came despite weakness in the broader market, with the Sensex down 0.54 percent and the Nifty declining 0.50 percent at around 12:57 pm.


Nuvoco Vistas on Monday reported a consolidated profit after tax of Rs 160 crore for the quarter ended June 30, up 20 percent from a year earlier. Total income increased 9 percent year-on-year to Rs 3,129 crore, while EBITDA rose 7 percent to Rs 572 crore. Cement sales volume grew 5 percent to 5.3 million tonnes during the quarter.

The earnings followed the company's announcement over the weekend that it had inaugurated a 2 million tonnes per annum (MTPA) grinding unit at its Limla Cement Plant in Surat, Gujarat, through subsidiary Vadraj Cement Ltd. The facility marks Nuvoco's entry into Gujarat and is expected to strengthen its presence in western India while improving access to markets in Gujarat and Maharashtra, the company said in a statement.


Nuvoco Vistas said the new grinding unit forms part of the assets acquired through Vadraj Cement, which Nuvoco bought in 2025 under the corporate insolvency resolution process. The refurbishment of the Limla facility involved an investment of about Rs 240 crore, excluding the acquisition cost of Rs 1,800 crore for the Vadraj assets.

Besides the Limla commissioning, Nuvoco said work at its Kutch project remains on track for phased operationalisation beginning in the third quarter of FY27. Construction has also commenced on a bulk cement terminal at Viramgam in Gujarat, targeted for commissioning by the second quarter of FY28, to support distribution across the state.

The company expects its ongoing expansion programme to increase total cement capacity to 35 MTPA by FY28 from 25 MTPA currently. It said the Surat grinding unit will also release capacity at its Rajasthan plants, allowing them to cater more efficiently to northern markets.