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JSW Cement (JSWCEMENT)₹121.35−2.07%Cement & Cement Products
In the Sep 2026 quarter (consolidated), JSW Cement reported sales of ₹1,919 Cr, up 33.1% from Sep 2025, and net profit of ₹77.96 Cr, up 3.9% year on year. For the year to Mar 2026, sales were ₹6,526 Cr and net profit −₹799 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,452 | 1,229 | 1,440 | 1,715 | 1,565 | 1,442 | 1,628 | 1,902 | 1,905 | 1,919 |
| Expenses | 1,275 | 1,135 | 1,313 | 1,464 | 1,233 | 1,164 | 1,331 | 1,526 | 1,592 | 1,629 |
| Operating Profit | 168 | 84.06 | 116 | 240 | 323 | 268 | 285 | 365 | 299 | 278 |
| OPM % | 12.0% | 7.0% | 8.0% | 14.0% | 21.0% | 19.0% | 18.0% | 19.0% | 16.0% | 15.0% |
| Other Income | 23.97 | 26.97 | 27.95 | 27.98 | −1,441 | 33.97 | 66.92 | 21.96 | 85.84 | 36.93 |
| Interest | 110 | 109 | 116 | 114 | 102 | 99.81 | 86.78 | 88.91 | 96.86 | 114 |
| Depreciation | 73.87 | 76.86 | 80.87 | 78.97 | 77.97 | 79.95 | 80.98 | 83.91 | 97.87 | 99.85 |
| Profit before tax | 7.99 | −74.95 | −52.92 | 75.97 | −1,300 | 121 | 184 | 215 | 190 | 101 |
| Tax % | 394.1% | 2.0% | 51.0% | 79.0% | 5.0% | 38.1% | 29.0% | −68.0% | 19.1% | 23.1% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | −1,406 | 0.00 | −24.06 | −4.01 | 0.00 | 0.00 |
| Net Profit | −24.01 | −75.98 | −80.05 | 16.01 | −1,365 | 75.04 | 131 | 362 | 153 | 77.96 |
| EPS (Rs) | −0.16 | −0.64 | −0.69 | 0.35 | −13.33 | 0.64 | 1.05 | 2.73 | 1.19 | 0.64 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 2,908 | 3,866 | 4,649 | 5,834 | 6,021 | 5,805 | 6,526 | 7,355 |
| Expenses | 2,287 | 3,015 | 3,863 | 5,133 | 5,130 | 5,151 | 5,245 | 6,078 |
| Operating Profit | 603 | 828 | 756 | 663 | 853 | 617 | 1,243 | 1,227 |
| OPM % | 21.0% | 22.0% | 16.0% | 11.0% | 14.0% | 11.0% | 19.0% | 16.7% |
| Other Income | 38.98 | 19.97 | 195 | 145 | 84.87 | 99.93 | −1,321 | 212 |
| Interest | 267 | 290 | 314 | 310 | 434 | 449 | 378 | 386 |
| Depreciation | 145 | 179 | 238 | 372 | 278 | 310 | 322 | 363 |
| Profit before tax | 230 | 378 | 397 | 125 | 224 | −43.98 | −781 | 689 |
| Tax % | 33.0% | 34.0% | 41.0% | 17.1% | 72.0% | 275.0% | 2.0% | — |
| Exceptional items | −1.01 | −28.07 | 0.00 | 0.00 | −1.01 | 2.01 | −1,494 | −28.07 |
| Net Profit | 154 | 250 | 233 | 104 | 61.96 | −164 | −799 | 724 |
| EPS (Rs) | 1.57 | 2.54 | 2.49 | 1.40 | 0.92 | −1.13 | −5.56 | 5.61 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | −89.0% | — |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 986 | 986 | 985 | 986 | 986 | 986 | 1,340 |
| Reserves | 542 | 842 | 1,147 | 1,310 | 1,482 | 1,369 | 5,219 |
| Borrowings | 2,975 | 3,194 | 4,629 | 5,648 | 6,262 | 6,568 | 4,465 |
| Other Liabilities | 1,683 | 1,904 | 2,480 | 2,214 | 2,510 | 2,980 | 3,386 |
| Total Liabilities | 6,185 | 6,926 | 9,241 | 10,158 | 11,239 | 11,903 | 14,412 |
| Fixed Assets | 3,298 | 4,232 | 4,577 | 4,648 | 6,194 | 6,791 | 8,489 |
| CWIP | 923 | 295 | 879 | 1,596 | 773 | 1,042 | 980 |
| Investments | 322 | 355 | 486 | 716 | 762 | 347 | 291 |
| Other Assets | 1,641 | 2,042 | 3,299 | 3,197 | 3,510 | 3,724 | 4,652 |
| Inventories | 458 | 349 | 460 | 447 | 475 | 427 | 601 |
| Trade receivables | 425 | 620 | 768 | 712 | 784 | 783 | 855 |
| Cash & equivalents | 114 | 135 | 553 | 54.84 | 315 | 123 | 498 |
| Total Assets | 6,185 | 6,926 | 9,241 | 10,158 | 11,239 | 11,903 | 14,412 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from operating activity | 721 | 781 | 338 | 651 | 1,405 | 735 | 1,167 |
| Cash from investing activity | −767 | −687 | −1,531 | −1,811 | −1,122 | −559 | −1,651 |
| Cash from financing activity | 119 | −95.23 | 1,264 | 1,044 | −222 | −233 | 864 |
| Net cash flow | 76.75 | 0.99 | 68.80 | −114 | 66.78 | −52.79 | 381 |
| Capex | 556 | 647 | 1,058 | 1,639 | 936 | 1,156 | 1,969 |
| Free cash flow | 169 | 170 | −717 | −980 | 477 | −410 | −793 |
| CFO / OP % | 126.9% | 100.9% | 53.9% | 114.9% | 176.9% | 124.9% | 94.9% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 53 | 59 | 60 | 45 | 48 | 49 | 48 |
| Inventory days | 260 | 127 | 142 | 103 | 131 | 104 | 131 |
| Days payable | 447 | 333 | 335 | 252 | 338 | 304 | 316 |
| Cash conversion cycle | −134 | −147 | −133 | −103 | −159 | −150 | −136 |
| Working capital days | −116 | −107 | −25 | −30 | −117 | −96 | −91 |
| ROCE % | — | 15.0% | 12.0% | 6.0% | 8.0% | 5.0% | 11.0% |
For the Sep 2026 quarter, JSW Cement reported sales of ₹1,919 Cr, up 33.1% year on year and net profit of ₹77.96 Cr, up 3.9% year on year. The operating margin was 15.0%.
JSW Cement's sales for the year to Mar 2026 were ₹6,526 Cr; over the last twelve months they were ₹7,355 Cr.
Net profit for the year to Mar 2026 was −₹799 Cr, and ₹724 Cr over the last twelve months. Earnings per share over the same trailing period were ₹5.61.
JSW Cement reported borrowings of ₹4,465 Cr at Mar 2026, against cash and equivalents of ₹498 Cr.
Cash from operations was ₹1,167 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹793 Cr.