JSW Cement Q1 FY26 Earnings Results: Revenue Up 8% YoY and EBITDA 39% YOY

JSW Cement Limited announced its consolidated financial results for the first quarter ending on June 30, 2025.

Financial Highlights

• Revenue: ₹1,560 crore in Q1 FY26, up 8% from ₹1,447 crore in Q1 FY25.
• Operating EBITDA: ₹322.7 crore, up 39% YoY; margin improved to 20.7% from 16.1% last year.
• Adjusted PAT: ₹100 crore (excluding fair value expenses from CCPS).
• Net Debt: ₹4,566 crore as of June 30, 2025.

Operational Performance

• Total volume sold grew 8% YoY to 3.31 MT (vs 3.07 MT last year).
• Cement sales rose 10% YoY to 1.85 MT, while GGBS sales increased 5% YoY to 1.30 MT.
• Cement realisations improved by 5.7% QoQ, while GGBS prices remained steady.
• Operating EBITDA per ton rose to ₹974 from ₹758 last year.

IPO & One-Time Expense

Before its IPO in August 2025, JSW Cement converted 160 million CCPS into equity shares.
This led to a one-time non-cash expense of ₹1,466.4 crore in Q1 FY26.
Post this adjustment, no further CCPS-related costs will be recorded.

Capex and Expansion Plans

• Targeting 41.85 MTPA grinding capacity and 13.04 MTPA clinker capacity.
• Sambalpur (Odisha) grinding unit of 1.0 MTPA to be commissioned by Sept 2025.
• Nagaur (Rajasthan) integrated unit of 3.3 MTPA clinker and 3.5 MTPA grinding capacity progressing on schedule.
• Approvals underway for Talwandi Sabo (Punjab) grinding unit.
• Capex spend in Q1 FY26 stood at ₹456 crore.

Sustainability & Achievements

• Maintains lowest CO2 emissions in the sector at 277 kg per ton of cementitious materials.
• Certified Great Place to Work 2025.
• Won CII ITC Excellence Award 2024 for biodiversity at Nandyal Plant.
• Partnering with IITs and IISc for Carbon Capture & Utilisation (CCU) projects supported by the Department of Science & Technology.

About JSW Cement

JSW Cement is part of the JSW Group, a diversified conglomerate with interests in steel, energy, infrastructure, real estate, paints, sports, and venture capital.

Read More: RBI Levies ₹44.7 Lakh Penalty on Bandhan Bank Over Compliance Issues.

JSW Cement Share Price Movement

JSW Cement share price (NSE: JSWCEMENT) was trading at ₹155.79, up by 1.34% (+₹2.06) as of 9:55 am on September 3, 2025. The stock opened at ₹153.70, touched a high of ₹158.00, and a low of ₹153.70 during the session. The company has a market capitalisation of ₹20,770 crore. Currently, it does not have a P/E ratio or dividend yield. Over the past 52 weeks, the stock has hit a high of ₹159.00 and a low of ₹143.95.

Conclusion

JSW Cement delivered solid growth in Q1 FY26 with higher volumes, better realisations, and improved margins. Backed by expansion plans, sustainability focus, and strong industry positioning, the company is well-placed to drive long-term growth.

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