Shares of India Cements, a Chennai-based cement manufacturer, surged over 13% to reach a high of ₹462 on the National Stock Exchange (NSE) following the announcement of its Q4 FY26 results. The company reported a net profit of ₹59.5 crore, a significant increase from ₹14.67 crore in the same quarter last year. Revenue from operations rose by 2.6% to ₹1,228.65 crore, while total expenses decreased by 10.5% year-on-year to ₹1,174.79 crore. Domestic sales volume grew by 18% year-on-year, with capacity utilization improving to 84%. Despite these positive results, Motilal Oswal Financial Services has maintained a 'Sell' rating on the stock, citing that the current valuation of 16x FY28E EV/Ebitda reflects much of the expected operational improvements, limiting further upside. The brokerage expects revenue to grow at an 11% CAGR over FY26-28, driven by volume growth and improved margins, but projects net debt to rise due to increased capital expenditure.