Steppe Cement Posts KZT 21,824 Million Q3 Revenue as Prices Climb 28%

Steppe Cement reported revenue of KZT 21,824 million for the third quarter ended September 30, 2026, 19% higher than the KZT 18,284 million recorded a year earlier, as a 28% price increase outweighed a 6.5% drop in volume. The TradingView-published update put nine-month revenue at KZT 51,321 million, up 32%.

Steppe Cement's Q3 2026 Revenue and Pricing

The AIM-listed producer, which makes cement and clinker in Kazakhstan through two wholly-owned subsidiaries operating a 2 million-tonne dry-kiln facility in Karaganda, said the quarterly revenue gain came from the appreciation of the Kazakh tenge and the 28% rise in the KZT price of products sold, which exceeded the inflation rate. Nine-month sales volume totalled 1.63 million tonnes against 1.55 million tonnes in 2025. The average delivered cement price ex-VAT was KZT 31,523 per tonne in the first nine months, compared with KZT 25,145 a year earlier, an increase of 25% in tenge and 36% in US dollar terms as the tenge appreciated about 9% against the dollar, from 520 to 478 KZT/USD. The company said its expansion project continues on time and on budget with funding in place.

Steppe Cement's Clinker Line Upgrade

According to akta.pro company records, Steppe Cement announced a $35 million clinker line upgrade to lift cement production capacity from 2 million tonnes to 2.5 million tonnes, with completion targeted for summer 2027 and $25 million in debt funding secured. The same records show revenue of KZT 52,375 million, about $100 million, for the year ended December 31, 2025, a 33% increase from the previous year, and domestic cement sales volume of 2.07 million tonnes, a 21% increase. Javier del Ser Perez became Executive Chairman in January 2026, with Piotr Durnev named Chief Executive Officer.

Cement Sector Peers in Focus

Motilal Oswal reiterated a BUY rating on JK Cement with a target price of INR5,960, citing capacity expansion to 40-50mtpa by FY28/FY30, Business News Today reported on October 14, 2026. Nomura kept a constructive view on the cement sector and named UltraTech Cement and Dalmia Bharat as top picks, with pan-India trade prices up about Rs10 per bag month-on-month in September, Business News Today reported on October 6, 2026. Simply Wall St reported on October 6, 2026 that Ambuja Cements shares fell 36.2% over the past year, with Q1 2027 revenue at ₹95,000m and net income at ₹5,770m.

Steppe Cement's Full-Year Market Outlook

Steppe Cement said Kazakhstan's domestic cement market reached 11.2 million tonnes in the first nine months of 2026, in line with 2025, with imports at 8.1% of domestic consumption and exports close to 1.0 million tonnes. Full-year domestic demand is projected at around 14.5 million tonnes, broadly unchanged from 2025, and the company expects a market share of approximately 14% for the year.