Leverage is when a corporation uses borrowed money to fuel its operations or investments. Leverage may boost a company's profits, but it also raises the stakes for those profits. Therefore, the effect of leverage on profits is nuanced and context-dependent.The idea of financial leverage, which refers to the use of debt financing to raise the potential returns to shareholders, is useful for understanding the effect of leverage on profitability. The rewards to shareholders may be amplified via the use of financial leverage.Companies that borrow money to invest in their operations or assets often get greater returns than those that use just stock financing. In contrast, interest payments on debt become a bigger percentage of total expenditures if the company's profits drop, which might reduce its profitability.The purpose of this research is to examine how using leverage affects the bottom lines of a few different cement firms in India. Secondary data from chosen cement businesses' annual reports throughout the course of five years (2018-2022) are used for the analysis in this research. Both market share and data availability played roles in selecting the organisations.The correlation between leverage and earnings is investigated using a regression analysis in this research. Return on assets (ROA) and return on equity (ROE) were used to assess company profitability. The level of leverage was calculated by dividing debt by equity.