JSW Cement Ltd
JSWCEMENT NSE
JSW Cement Ltd
ConstructionNSE: JSWCEMENT BSE: 544480 Cement
Key Fundamentals
SmallcapCementConstructionMarket Cap
₹17,372 Cr
Volatility
Moderate
P/E Ratio
22.86
EBITDA
₹1,393 Cr
Return on Equity
-12.24%
Debt to Equity
0.68
Book Value
₹48.21
52W High
₹162.15
52W Low
₹106.65
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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45 extracted metrics + investor summaries across FY06–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
2- Company has reduced debt.
- Company has delivered good profit growth of 18.7% CAGR over last 5 years
Weaknesses
4- Stock is trading at 2.66 times its book value
- The company has delivered a poor sales growth of 11.0% over past five years.
- Company has a low return on equity of 6.80% over last 3 years.
- Company might be capitalizing the interest cost
Growth Rate
Revenue Growth
12.68% ↗
Net Income Growth
387.67% ↗
Cash Flow Change
58.84% ↗
ROE
77.39% ↗
ROCE
-177.96% ↘
EBITDA Margin (Avg.)
51.67% ↗
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 3d agoAI opinion · based on fundamentals
Risk high
JSW Cement Ltd has a market cap of ₹17,707 Cr and trades at a P/B of 2.72x with a negative trailing P/E of -22.4x. The company posted strong TTM profit growth of 1,332% and TTM sales growth of 16%, while its 3-year ROE stands at a modest 7% and 5-year sales CAGR is 11%.
Bull Case 7
- TTM compounded profit growth of 1,332% signals a sharp earnings turnaround from a low base
- TTM sales growth of 16% shows accelerating revenue momentum versus the 3-year sales CAGR of just 4%
- 5-year compounded profit CAGR of 19% demonstrates sustained earnings improvement over a longer horizon
- Company has reduced debt, improving its balance sheet quality and lowering financial risk
- Last year ROE improved to 15%, a significant jump from the 3-year average of 7% and 5-year average of 8%
- 5-year compounded sales CAGR of 11% indicates consistent top-line expansion in a capital-intensive industry
- Dividend yield of 0.38% indicates the company has begun returning cash to shareholders despite being in a growth phase
Bear Case 8
- Negative trailing P/E of -22.4x indicates the company is currently loss-making on a reported basis
- 3-year ROE of only 7% reflects poor capital efficiency relative to peers in the cement sector
- Stock is trading at 2.73x book value which is expensive for a company with sub-par return ratios
- 3-year compounded sales CAGR of only 4% suggests a prolonged period of revenue stagnation
- Stock price has declined 10% over the past 1 year, underperforming broader markets
- Company might be capitalizing interest costs, potentially flattering reported profitability and understating true operating expenses
- 5-year sales growth of 11% is below industry peers, indicating potential market share challenges
- Debt-to-equity and ROCE data are unavailable, limiting visibility into true leverage and capital efficiency
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 19h ago Headwinds 2
- GBS growth guidance cut Aug 14
Management revised GBS growth guidance down to high single digits from mid-teens, signaling slower near-term revenue expansion.
- Monsoon headwinds in Q2 Aug 14
Management acknowledged monsoon-related headwinds in Q2, though expects Q2 to still outperform Q1.
Positives 4
- Costs likely to decline from Q3 Aug 14
Management expects cost reduction from Q3 onwards, which should support margin expansion in H2.
- Green energy share to exceed 60% Aug 14
JSW Cement targets green energy share exceeding 60% by end of FY27, strengthening its sustainability profile.
- UAE expansion with $29.24M guarantee Jul 25
Company issued a USD 29.24M corporate guarantee to fund a new 1.65 MTPA cement grinding unit in Fujairah, UAE, expanding international capacity.
- Dividend and AGM approvals Aug 1
Shareholders approved ₹0.50 dividend and re-appointed director Seshagiri Rao MVS at the 20th AGM on July 31, 2026, with high support for all resolutions.
Neutral 2
- Investor meets in Aug Aug 6
JSW Cement will participate in institutional investor meetings in Mumbai and Hong Kong in August 2026; no UPSI to be shared.
- Earnings call on Aug 14 Aug 6
Company scheduled an earnings conference call for August 14, 2026, to discuss Q4FY26 results with senior management presenting.
TL;DR: JSW Cement is executing well on cost optimization (decline expected from Q3), green energy transition (60%+ by FY27), and international expansion (1.65 MTPA UAE unit). The key risk is the downward revision in GBS growth guidance from mid-teens to high single digits. Overall trend is cautiously positive with improving cost outlook offsetting softer top-line growth expectations.
Quarterly Results
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,447 | 1,224 | 1,433 | 1,709 | 1,560 | 1,436 | 1,621 | 1,895 | 1,896 |
| Expenses | 1,279 | 1,139 | 1,317 | 1,469 | 1,237 | 1,169 | 1,336 | 1,530 | 1,598 |
| Operating Profit | 168 | 84 | 116 | 240 | 323 | 268 | 285 | 365 | 299 |
| OPM % | 12% | 7% | 8% | 14% | 21% | 19% | 18% | 19% | 16% |
| Other Income | 24 | 27 | 28 | 28 | -1,444 | 34 | 67 | 22 | 86 |
| Interest | 110 | 109 | 116 | 114 | 102 | 100 | 87 | 89 | 97 |
| Depreciation | 74 | 77 | 81 | 79 | 78 | 80 | 81 | 84 | 98 |
| PBT | 8 | -75 | -53 | 76 | -1,302 | 121 | 184 | 215 | 190 |
| Tax % | 394% | 2% | 51% | 79% | 5% | 38% | 29% | -68% | 19% |
| Net Profit | -24 | -76 | -80 | 16 | -1,366 | 75 | 131 | 362 | 153 |
| EPS in Rs | -0.15 | -0.63 | -0.68 | 0.34 | -13.31 | 0.63 | 1.04 | 2.72 | 1.18 |
Profit & Loss
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 2,897 | 3,853 | 4,634 | 5,810 | 6,002 | 5,785 | 6,501 | 6,849 |
| Expenses | 2,294 | 3,024 | 3,878 | 5,147 | 5,149 | 5,169 | 5,259 | 5,633 |
| Operating Profit | 603 | 829 | 756 | 663 | 853 | 617 | 1,242 | 1,216 |
| OPM % | 21% | 22% | 16% | 11% | 14% | 11% | 19% | 18% |
| Other Income | 39 | 20 | 195 | 145 | 85 | 100 | -1,323 | 209 |
| Interest | 268 | 291 | 315 | 310 | 435 | 450 | 378 | 373 |
| Depreciation | 145 | 179 | 238 | 373 | 278 | 310 | 322 | 342 |
| PBT | 230 | 379 | 398 | 125 | 224 | -44 | -781 | 711 |
| Tax % | 33% | 34% | 41% | 17% | 72% | 275% | 2% | — |
| Net Profit | 154 | 250 | 233 | 104 | 62 | -164 | -799 | 721 |
| EPS in Rs | 1.56 | 2.53 | 2.48 | 1.39 | 0.91 | -1.12 | -5.55 | 5.57 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | -89% | — |
Balance Sheet
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 986 | 986 | 986 | 986 | 986 | 986 | 1,341 |
| Reserves | 540 | 839 | 1,144 | 1,306 | 1,478 | 1,366 | 5,209 |
| Borrowings | 2,969 | 3,189 | 4,622 | 5,641 | 6,254 | 6,563 | 4,464 |
| Other Liabilities | 1,675 | 1,895 | 2,468 | 2,203 | 2,498 | 2,966 | 3,370 |
| Total Liabilities | 6,169 | 6,909 | 9,221 | 10,136 | 11,216 | 11,881 | 14,385 |
| Fixed Assets | 3,293 | 4,224 | 4,573 | 4,645 | 6,189 | 6,785 | 8,480 |
| CWIP | 920 | 294 | 876 | 1,591 | 770 | 1,038 | 976 |
| Investments | 320 | 354 | 484 | 714 | 759 | 345 | 290 |
| Other Assets | 1,636 | 2,036 | 3,288 | 3,186 | 3,498 | 3,714 | 4,639 |
| Total Assets | 6,169 | 6,909 | 9,221 | 10,136 | 11,216 | 11,881 | 14,385 |
Cash Flow
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Operating | 723 | 783 | 339 | 653 | 1,408 | 737 | 1,170 |
| Investing | -765 | -686 | -1,530 | -1,808 | -1,120 | -558 | -1,649 |
| Financing | 119 | -95 | 1,260 | 1,041 | -221 | -232 | 861 |
| Net Cash Flow | 77 | 1 | 69 | -114 | 67 | -53 | 382 |
| Free Cash Flow | 169 | 170 | -715 | -979 | 476 | -409 | -791 |
| CFO/OP | 127 | 101 | 54 | 115 | 177 | 125 | 95 |
Ratios
| 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 | 261 | 128 | 143 | 104 | 132 | 105 | 132 |
| Days Payable | 448 | 334 | 336 | 253 | 339 | 305 | 317 |
| Cash Conversion Cycle | -134 | -147 | -133 | -103 | -159 | -150 | -136 |
| Working Capital Days | -115 | -106 | -24 | -29 | -116 | -95 | -90 |
| ROCE % | — | 15% | 12% | 6% | 8% | 5% | 11% |
Documents
1
Board Meeting Intimation for Consideration And Approval Of The Audited Standalone And Consolidated Financial Results Of The Company For The Quarter And Year Ended 31St March, 2026.
7 May - Board meeting on 18 May 2026 to approve audited standalone and consolidated FY2026 financial results. 7 May - Board meeting on 18 May 2026 to approve audited standalone and consolidated FY2026 financial results.
2
Announcement under Regulation 30 (LODR)-Credit Rating
7 May - JSW Cement received ESG rating 70, categorized as Aspiring, for FY2024-25. 7 May - JSW Cement received ESG rating 70, categorized as Aspiring, for FY2024-25.
3
Announcement under Regulation 30 (LODR)-Change in Directorate
22 Apr - Ms. Sutapa Banerjee ceased as Independent Director on 21 April 2026 after completing her second term. 22 Apr - Ms. Sutapa Banerjee ceased as Independent Director on 21 April 2026 after completing her second term.
4
Announcement under Regulation 30 (LODR)-Change in Directorate
11h - Ms. Sutapa Banerjee ceased as Independent Director on 21 April 2026 after completing her second term. 11h - Ms. Sutapa Banerjee ceased as Independent Director on 21 April 2026 after completing her second term.
5
Announcement under Regulation 30 (LODR)-Resignation of Director
14 Apr - Sudhir Maheshwari resigned as Non-Executive Non-Independent Director effective 14 April 2026, citing personal reasons. 14 Apr - Sudhir Maheshwari resigned as Non-Executive Non-Independent Director effective 14 April 2026, citing personal reasons.
Frequently Asked Questions about JSW Cement Ltd
What does JSW Cement Ltd do?
JSW Cement is a leading Indian manufacturer of green cement, known for its sustainability and use in major infrastructure projects
Where is JSW Cement Ltd (JSWCEMENT) listed?
JSW Cement Ltd is listed on the Indian stock exchanges. It is listed on NSE: JSWCEMENT and BSE: 544480. You can view its live share price, financials, and ratios on Tapetide.
Which sector does JSW Cement Ltd belong to?
JSW Cement Ltd operates in the Construction sector within the Cement industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of JSW Cement Ltd?
JSW Cement Ltd has a market capitalisation of approximately ₹17372.00 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of JSW Cement Ltd?
The Price-to-Earnings (PE) ratio of JSW Cement Ltd is 22.86. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of JSW Cement Ltd?
Over the past 52 weeks, JSW Cement Ltd has traded between a low of ₹106.65 and a high of ₹162.15. This range helps investors understand the stock's price volatility and recent trading levels.
Does JSW Cement Ltd pay dividends?
Yes, JSW Cement Ltd has a dividend yield of 0.39%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of JSW Cement Ltd?
JSW Cement Ltd has a Return on Equity (ROE) of -12.24%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research JSW Cement Ltd on Tapetide?
On Tapetide, you can view JSW Cement Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
JSW Cement is a leading Indian manufacturer of green cement, known for its sustainability and use in major infrastructure projects