JSW Cement Ltd
JSW Cement is a leading Indian manufacturer of green cement, known for its sustainability and use in major infrastructure projects
- Market Cap ₹ 15,829 Cr.
- Current Price ₹ 116
- High / Low ₹ 162 / 116
- Stock P/E 78.7
- Book Value ₹ 48.3
- Dividend Yield 0.00 %
- ROCE 7.57 %
- ROE 3.68 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company has a low return on equity of 7.60% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Commodities Construction Materials Cement & Cement Products Cement & Cement Products
Part of BSE IPO
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 2,761 | 3,408 | 4,065 | 4,744 | 5,768 | 5,505 | |
| 2,170 | 2,616 | 3,339 | 4,079 | 4,878 | 4,780 | |
| Operating Profit | 592 | 792 | 727 | 665 | 891 | 726 |
| OPM % | 21% | 23% | 18% | 14% | 15% | 13% |
| 55 | 35 | 225 | 130 | 155 | 164 | |
| Interest | 265 | 278 | 283 | 261 | 379 | 384 |
| Depreciation | 135 | 154 | 170 | 232 | 242 | 263 |
| Profit before tax | 246 | 396 | 499 | 301 | 424 | 242 |
| Tax % | 34% | 35% | 35% | 17% | 48% | 58% |
| 162 | 258 | 324 | 250 | 221 | 102 | |
| EPS in Rs | 1.64 | 2.61 | 3.29 | 2.53 | 2.24 | 1.00 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | 11% |
| TTM: | -5% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -9% |
| 3 Years: | -32% |
| TTM: | -54% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 11% |
| 3 Years: | 8% |
| Last Year: | 4% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 986 | 986 | 986 | 986 | 986 | 986 | 1,334 |
| Reserves | 461 | 762 | 1,128 | 1,398 | 1,700 | 1,870 | 5,252 |
| 2,672 | 2,708 | 3,816 | 4,806 | 5,171 | 5,845 | 3,717 | |
| 1,493 | 1,590 | 1,815 | 2,359 | 2,971 | 2,919 | 3,253 | |
| Total Liabilities | 5,612 | 6,046 | 7,745 | 9,550 | 10,828 | 11,620 | 13,556 |
| 2,930 | 3,206 | 3,292 | 4,344 | 4,984 | 5,487 | 5,440 | |
| CWIP | 453 | 239 | 422 | 756 | 634 | 925 | 1,745 |
| Investments | 666 | 840 | 1,005 | 988 | 1,092 | 1,104 | 1,106 |
| 1,563 | 1,761 | 3,027 | 3,461 | 4,119 | 4,105 | 5,266 | |
| Total Assets | 5,612 | 6,046 | 7,745 | 9,550 | 10,828 | 11,620 | 13,556 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 842 | 743 | 271 | 785 | 1,089 | ||
| -662 | -468 | -1,142 | -1,455 | -844 | ||
| -130 | -286 | 944 | 584 | -199 | ||
| Net Cash Flow | 51 | -11 | 74 | -86 | 46 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 54 | 56 | 65 | 54 | 49 | 51 |
| Inventory Days | 252 | 112 | 118 | 130 | 111 | 89 |
| Days Payable | 490 | 315 | 270 | 326 | 295 | 282 |
| Cash Conversion Cycle | -184 | -146 | -87 | -142 | -135 | -143 |
| Working Capital Days | 20 | -87 | -0 | -30 | -90 | -86 |
| ROCE % | 17% | 15% | 9% | 11% | 8% |
Documents
Announcements
-
Execution Of Securities Purchase Agreement
18 Nov - Signed SPA on 17.11.2025: sold 100% of Algebra to Nuvoco for INR 1,91,63,01,956.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
13 Nov - Transcript of Nov 10, 2025 conference call on unaudited Q2/H1 FY2025-26 results uploaded.
- Announcement under Regulation 30 (LODR)-Investor Presentation 13 Nov
-
Power Purchase Agreement With JSW Green Energy Fifteen Limited
11 Nov - Signed PPA and subscribed 26% equity in JSW Green Energy Fifteen for Rs.21.78 Crore on 11-Nov-2025; 60MW solar.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
10 Nov - Audio recording of Nov 10, 2025 results conference call (Q2/H1 ended Sep 30, 2025) uploaded.
Concalls
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Nov 2025Transcript PPT REC
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Nov 2025TranscriptNotesPPT
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Sep 2025Transcript PPT REC
Leading Cement Manufacturer[1]
The company is among the top 10 cement companies in India in terms of installed capacity and sales volume as of FY25 and is among the top 3 fastest growing cement manufacturing companies.