Chandigarh, May22 : JSWCementLimited today reportedits consolidated financial results for the fourth quarter and year ended March 31, 2026.
KeyFinancialHighlightsforQ4FY26:
·TotalVolumeSoldincreasedto3.99MillionTonnesinQ4FY26from3.73Million Tonnes in Q4 FY25, marking a growth of 7% YoY
·Revenue:₹1,895CroreinQ4FY26,11%YoYincreasecomparedto₹1,709CroreinQ4 FY25
·Operating EBITDA: ₹365.0 Crore, increased by 46% YoY, with an operating EBITDAmargin of 19.3%
·ProfitafterTax/Adjusted ProfitafterTax1:₹361.7 Crore
·Netdebt:₹3,635CroreasatMarch31,2026
KeyFinancialHighlightsfor FY2026:
·TotalVolumeSoldof13.96MillionTonnes,up11%YoY
·Revenue:increasedby12%YoYto ₹6,512Crore
·Operating EBITDA: ₹1,240.3 Crore, representing a substantial increase of 44% YoY, with an operating EBITDA margin of 19.0%
·AdjustedProfitafterTax1:₹667.6Crore
·Dividend: Based on the Adjusted Profit after Tax1 of ₹667.6 Crore for the year, the Board has recommended a dividend of ₹0.5 per equity share of face value ₹10 each, subject to approval by the shareholders at the Annual General Meeting
FY2026–KeyBusinessUpdates:
·July2025:TheCompanylaunchedsuper-premiumcementintheSouthernand Eastern regions
·August2025:TheCompanysuccessfullycompleteditsIPOontheNSEandtheBSE
·October2025:ShivaCement,thelistedsubsidiaryoftheCompany,commissioneda
1.0MTPAgrindingunitlocatedatSambalpur,Odisha,therebystrengtheningits market presence in eastern India
·March2026:TheCompanycommencedproductionatthestate-of-the-art,greenfield, integratedcementplantlocatedinthedistrictofNagaurinRajasthan–itsfirstfacility inNorthIndia.Thisplantisequippedwitha3.3MTPAclinkerisationunitandaninitial cement grinding capacity of 2.5 MTPA
·March 2026: The Company was declared as the ‘Preferred Bidder’ for the Mining leases oftheSikilangso limestoneblocks (PartA&Part B)located inUmrangso,Dima Hasao District, Assam
ConsolidatedOperational&FinancialPerformanceforQ4FY26:
During the quarter, Total Volume Sold increased by 7% YoY to 3.99 Million Tonnes. Of this, cementvolumesoldwas2.35MillionTonnesrepresentinganincreaseof12%YoY,versus
2.10 Million Tonnes in Q4 FY25. The volume sold of Ground Granulated Blast Furnace Slag (“GGBS”) was 1.57 Million Tonnes representing an increase of 5% YoY, versus 1.49 Million Tonnes in Q4 FY25.
Revenue from operations increased 11% YoY to ₹1,895 Crore, while operating EBITDA improved by 46% YoY to ₹365.0 Crore resulting in operating EBITDA per ton of ₹916 per ton in Q4 FY26. Operating EBITDA (adjusted for forex losses)2 for Q4 FY26 was ₹378.4 Crore, equating to ₹950 per ton.
Operating EBITDA margin was 19.3% in Q4 FY26, as against 14.6% in Q4 FY25. Total EBITDA (including other income) was ₹385.6 Crore in Q4 FY26.
ConsolidatedOperational&FinancialPerformanceforFY2026:
During FY2026, Total volume sold increased by 11% YoY to 13.96 Million Tonnes. Of this, Cement volume sold was 7.73 Million Tonnes, representingan increase of 9% YoY, while the volume sold of GGBS was 5.78 Million Tonnes, representing a robust increase of 12% YoY.
Revenue from operations increased 12% YoY to ₹6,512 Crore, while operating EBITDA improvedby44%YoYto₹1,240.3Crore.OperatingEBITDApertonforFY26stoodat₹888per tonne. Total EBITDA (including other income) was ₹1,392.7 Crore in FY26.
Pursuant to the amendments introduced under the Finance Act, 2026, inter alia enabling prescribed treatment of brought-forward MAT credit to the companies under tax regime as per Section 115BAA of the Income-tax Act, 1961 (“New tax regime”), the Company basis its assessment has decided to exercise the option to adopt the New tax regime from financial year 2026–27 onwards. In view of the same, the resultant reduction in net deferred tax liabilities, consequent to the reduced tax rate in the New tax regime, of ₹ 211.21 crore has been recognised in Q4 FY26 and FY2026.
GrowthStrategy&Capex Update:
The Company continues to make progress on its expansion program to develop a pan India presence and reach 46.00 MTPA of grinding capacity along with 13.04 MTPA of clinker capacity.
The first phase of the Nagaur integrated unit in Rajasthan, comprising 3.3 MTPA clinker capacity and 2.5 MTPA grinding capacity was commissioned in Q4 FY26. Work on the WHRS and additional 1.0 MTPA grinding capacity at Nagaur are also nearing completion.
With a view to enhancing utilisation of the Nagaur clinker line, as well as with the strategic aim to make the Nagaur unit self-sufficient in terms of cement grinding capacity, the Board has approved the establishment of an additional 2.5 MTPA cement grinding capacity. Post expansion,totalgrindingcapacityattheNagaurunitwillincreaseto6.0MTPA.Theestimated investment for this project is ₹430 Crore.
DuringQ4FY26andFY2026,thecompanyincurredcapex(includingmaintenancecapex)of
₹506Croreand₹1,962Crore respectively.
SustainabilityUpdatesand Recognitions:
·The Company continues to have lowest carbon dioxide emission intensity in the industry of 268 kg CO2 per ton of cementitious materials in FY2026
·ShivaCementreceivedtheDistinctionAwardforExcellenceinSafetyPerformanceand Safety Practices from the British Safety Council
·JSW Cement’s Vijayanagar Unit was awarded the prestigious “Legend (Emerging)” award at the 20th Exceed Occupational Health, Safety & Security Awards
·JSW Cement was awarded Golden Peacock Award for Innovation Management, in recognitionforexcellenceinfosteringacultureofinnovationandsustainablebusiness transformation
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