| Management target | Revenue 15.0% FY27 |
|---|
| Revenue growth | FY26 revenue up 12% YoY; Q4 revenue up 11% YoY. |
|---|---|
| Margins | EBITDA margin improved 460 bps YoY to 19.3% in Q4. |
| Demand visibility | Softness in April/May due to elections; recovery expected from June onwards. |
| Management confidence | Balanced; optimistic on long-term India growth despite near-term inflationary headwinds. |
Growth
FY26 revenue grew 12% YoY to ₹6,512 Cr; volumes up 11%. Operating EBITDA jumped 44% YoY.
Outlook
Targeting 43.5 MTPA capacity by FY30; Rajasthan expansion to 6 MTPA expected by Q4FY28.
Risks
Punjab EC delays forcing capex redirection; election-led labor shortages and West Asia fuel volatility impacting Q1FY27.
Last quarter's promises, checked
Delivered
- Guided Nagaur plant start March 2026 → Delivered March 30, 2026 (= BEAT)
- Guided FY26 Capex ~INR 2,468 Cr → Delivered INR 2,468 Cr (= BEAT)
- Guided 50% cost savings realization → Delivered >50% achieved (= BEAT)
Partly delivered
- Guided GGBS growth → Delivered 5.4% Q4 growth vs 12% FY average (= PARTIAL)
Missed
- Guided Punjab Mansa plant timeline → Delayed due to EC issues (= MISS)
Earnings Call Transcript filed with BSE, NSE: JSWCEMENT. Summary written with AI assistance from the document.
JSW Cement Ltd: key numbers
- Share price
- ₹113.20
- Market cap
- ₹15,433 Cr
- Revenue (annual)
- ₹6,512 Cr
- Net profit (annual)
- ₹-756.3 Cr
- P/E (TTM)
- 20.3×Sector 31.7×
- Promoter holding
- 72.02%-0.01% QoQ
- FII holding
- 3.70%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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