JSWCEMENT
JSW Cement Limited
Cement, clinker and GGBS manufacturer under JSW Group
Commodities›Construction Materials›Cement & Cement Products›Cement & Cement Products
jswcement.in(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
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What you need to know
JSW Cement makes and sells cement and ground granulated blast-furnace slag (GGBS, a slag-based substitute for ordinary cement in concrete) to home builders, infrastructure projects and ready-mix concrete makers across India, as part of the JSW Group.
Company snapshot
9thBy market cap
Ranked among 32 companies in Cement & Cement Products.
What we see
- ✓115% of operating profit came in as cash over the last three years — profits are backed by real cash.
- ✗Net margin is negative — the company is spending more than it earns right now.
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Sales | 1,560 Cr | 1,436 Cr | 1,621 Cr | 1,895 Cr | 1,896 Cr |
| Operating expenses (approx.) | 1,237 Cr | 1,169 Cr | 1,336 Cr | 1,530 Cr | 1,598 Cr |
| EBITDA | 323 Cr | 268 Cr | 285 Cr | 365 Cr | 299 Cr |
| OPM % | 20.7% | 18.6% | 17.6% | 19.3% | 15.7% |
| Other income | 22 Cr | 24 Cr | 86 Cr | 21 Cr | 74 Cr |
| Interest | 102 Cr | 100 Cr | 87 Cr | 89 Cr | 97 Cr |
| Depreciation | 78 Cr | 80 Cr | 81 Cr | 84 Cr | 98 Cr |
| Profit before tax | -1,302 Cr | 121 Cr | 184 Cr | 215 Cr | 190 Cr |
| Tax % | -5.0% | 37.8% | 29.1% | -68.3% | 19.3% |
| Net profit | -1,366 Cr | 75 Cr | 131 Cr | 362 Cr | 153 Cr |
| EPS (₹) | ₹-13.75 | ₹0.71 | ₹1.06 | ₹2.77 | ₹1.20 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|
| Sales | 5,837 Cr | 6,028 Cr | 5,813 Cr | 6,512 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 5,155 Cr | 5,095 Cr | 5,099 Cr | 5,272 Cr | Sign in free for the trailing twelve months |
| EBITDA | 681 Cr | 933 Cr | 714 Cr | 1,240 Cr | Sign in free for the trailing twelve months |
| OPM % | 11.7% | 15.5% | 12.3% | 19.0% | Sign in free for the trailing twelve months |
| Other income | 145 Cr | 86 Cr | 102 Cr | 152 Cr | Sign in free for the trailing twelve months |
| Interest | 310 Cr | 435 Cr | 450 Cr | 378 Cr | Sign in free for the trailing twelve months |
| Depreciation | 373 Cr | 278 Cr | 310 Cr | 322 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 125 Cr | 224 Cr | -44 Cr | -781 Cr | Sign in free for the trailing twelve months |
| Tax % | 16.7% | 72.4% | -275.2% | -2.2% | Sign in free for the trailing twelve months |
| Net profit | 104 Cr | 62 Cr | -164 Cr | -799 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹1.39 | ₹0.91 | ₹-1.16 | ₹-6.19 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | Sign in free for the trailing twelve months |
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Equity capital | 986 Cr | 986 Cr | 986 Cr | 1,341 Cr |
| Reserves | 1,306 Cr | 1,478 Cr | 1,366 Cr | 5,209 Cr |
| Borrowings | 5,422 Cr | 5,836 Cr | 6,167 Cr | 4,082 Cr |
| Other liabilities | 2,556 Cr | 3,098 Cr | 3,465 Cr | 3,926 Cr |
| Total liabilities | 10,219 Cr | 11,319 Cr | 12,004 Cr | 14,535 Cr |
| Fixed assets (net) | 3,493 Cr | 4,870 Cr | 5,438 Cr | 7,153 Cr |
| CWIP | 1,575 Cr | 739 Cr | 1,025 Cr | 958 Cr |
| Investments | 714 Cr | 759 Cr | 345 Cr | 290 Cr |
| Loans & advances | — | — | — | 212 Cr |
| Inventories | 448 Cr | 475 Cr | 428 Cr | 602 Cr |
| Trade receivables | 711 Cr | 783 Cr | 782 Cr | 854 Cr |
| Cash & bank | 51 Cr | 118 Cr | 65 Cr | 447 Cr |
| Other assets | 3,225 Cr | 3,574 Cr | 3,920 Cr | 4,020 Cr |
| Total assets | 10,219 Cr | 11,319 Cr | 12,004 Cr | 14,535 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Cash from operating activity | 653 Cr | 1,408 Cr | 737 Cr | 1,170 Cr |
| Cash from investing | -1,793 Cr | -1,120 Cr | -558 Cr | -1,649 Cr |
| Cash from financing | 1,041 Cr | -221 Cr | -232 Cr | 861 Cr |
| Net cash flow | -99 Cr | 67 Cr | -53 Cr | 382 Cr |
| Free cash flow (OCF − Capex) | -979 Cr | 476 Cr | -409 Cr | -791 Cr |
Ratios
| Metric | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| ROCE % | 5.7% | 8.0% | 4.8% | -3.8% |
| ROE % | 6.1% | 3.8% | -4.8% | -11.6% |
| Debtor days | 44 | 47 | 49 | 48 |
| Inventory days | 145 | 133 | 107 | 143 |
| Days payable | 351 | 341 | 310 | 342 |
| Cash conversion cycle | -161 | -161 | -154 | -151 |
| OCF / EBITDA % | 95.8% | 150.9% | 103.2% | 94.4% |
| OCF / EBITDA % (3 years) | — | — | 120.2% | 114.8% |
| Debt / equity | 2.42 | 2.45 | 2.62 | 0.63 |
| Current ratio | 0.85 | 0.68 | 0.65 | 0.72 |
| Net debt / EBITDA | 7.88 | 6.13 | 8.55 | 2.93 |