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 ₹ 17,322 Cr.
- Current Price ₹ 127
- High / Low ₹ 162 / 107
- Stock P/E 22.7
- Book Value ₹ 52.1
- Dividend Yield 0.00 %
- ROCE 11.8 %
- ROE 15.3 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
Cons
- The company has delivered a poor sales growth of 12.0% over past five years.
- Tax rate seems low
- Company has a low return on equity of 10.4% 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.
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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 2,761 | 3,408 | 4,065 | 4,744 | 5,768 | 5,478 | 5,995 | |
| 2,170 | 2,616 | 3,339 | 4,079 | 4,878 | 4,752 | 4,802 | |
| Operating Profit | 592 | 792 | 727 | 665 | 891 | 726 | 1,194 |
| OPM % | 21% | 23% | 18% | 14% | 15% | 13% | 20% |
| 55 | 35 | 225 | 130 | 155 | 164 | -1,269 | |
| Interest | 265 | 278 | 283 | 261 | 379 | 384 | 307 |
| Depreciation | 135 | 154 | 170 | 232 | 242 | 263 | 276 |
| Profit before tax | 246 | 396 | 499 | 301 | 424 | 242 | -659 |
| Tax % | 34% | 35% | 35% | 17% | 48% | 58% | 6% |
| 162 | 258 | 324 | 250 | 221 | 102 | -699 | |
| EPS in Rs | 1.64 | 2.61 | 3.29 | 2.53 | 2.24 | 1.00 | -5.12 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | -10% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 12% |
| 3 Years: | 8% |
| TTM: | 9% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 22% |
| 3 Years: | 45% |
| TTM: | 715% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 11% |
| 3 Years: | 10% |
| Last Year: | 15% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 461 | 762 | 1,128 | 1,398 | 1,700 | 1,870 | 5,760 |
| 2,672 | 2,708 | 3,816 | 4,806 | 5,577 | 5,845 | 3,647 | |
| 1,493 | 1,590 | 1,815 | 2,359 | 2,565 | 2,919 | 3,314 | |
| Total Liabilities | 5,612 | 6,046 | 7,745 | 9,550 | 10,828 | 11,620 | 14,063 |
| 2,930 | 3,206 | 3,292 | 4,344 | 4,984 | 5,484 | 7,105 | |
| CWIP | 453 | 239 | 422 | 756 | 634 | 927 | 934 |
| Investments | 666 | 840 | 1,005 | 988 | 1,092 | 1,104 | 1,014 |
| 1,563 | 1,761 | 3,027 | 3,461 | 4,119 | 4,105 | 5,010 | |
| Total Assets | 5,612 | 6,046 | 7,745 | 9,550 | 10,828 | 11,620 | 14,063 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 842 | 743 | 271 | 785 | 1,089 | 785 | 1,037 | |
| -662 | -468 | -1,142 | -1,455 | -844 | -538 | -1,476 | |
| -130 | -286 | 944 | 584 | -199 | -285 | 826 | |
| Net Cash Flow | 51 | -11 | 74 | -86 | 46 | -38 | 387 |
| Free Cash Flow | 309 | 483 | -205 | -73 | 522 | -85 | -647 |
| CFO/OP | 149% | 101% | 47% | 134% | 134% | 112% | 87% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 54 | 56 | 65 | 54 | 49 | 51 | 48 |
| Inventory Days | 252 | 112 | 118 | 130 | 111 | 87 | 118 |
| Days Payable | 490 | 315 | 270 | 326 | 295 | 278 | 296 |
| Cash Conversion Cycle | -184 | -146 | -87 | -142 | -135 | -139 | -130 |
| Working Capital Days | 20 | -87 | -0 | -30 | -90 | -91 | -70 |
| ROCE % | 17% | 15% | 9% | 10% | 7% | 12% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Installed Grinding Capacity MTPA |
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| Total Sales Volume (Cement + GGBS + Clinker) MMT |
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| Capacity Utilization (Grinding) % |
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| Clinker to Cement Factor % |
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| Green Energy Share (RE+WHRS) % |
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| Number of Dealers Count |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Investor Presentation
28 May - Pursuant to Regulation 30 and other applicable provisions of SEBI (LODR) Regulations, 2015, we enclose herewith Investor Presentation.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
26 May - The transcripts of the Results Conference Call held after the Board Meeting on 21st May, 2026.
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Compliances-Reg.24(A)-Annual Secretarial Compliance
26 May - JSW Cement filed its Annual Secretarial Compliance Report for FY2026; no major non-compliances reported.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
22 May - JSW Cement to meet investors at Trinity India 2026 on 29 May and Citi India Conference on 5 June 2026.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
21 May - Audio recording of 21 May 2026 results conference call uploaded for audited Q4 and FY26 results.
Concalls
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May 2026Transcript PPT REC
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May 2026TranscriptAI SummaryPPT
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Feb 2026Transcript PPT
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Feb 2026TranscriptAI SummaryPPT
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Nov 2025Transcript PPT REC
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Nov 2025TranscriptAI SummaryPPT
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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.