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 451
- Book Value ₹ 44.4
- Dividend Yield 0.00 %
- ROCE 4.64 %
- ROE -4.81 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
Cons
- Stock is trading at 2.62 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of 1.60% 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 2,897 | 3,853 | 4,634 | 5,810 | 6,002 | 5,785 | |
| 2,294 | 3,024 | 3,878 | 5,147 | 5,149 | 5,169 | |
| Operating Profit | 603 | 829 | 756 | 663 | 853 | 617 |
| OPM % | 21% | 22% | 16% | 11% | 14% | 11% |
| 39 | 20 | 195 | 145 | 85 | 100 | |
| Interest | 268 | 291 | 315 | 310 | 435 | 450 |
| Depreciation | 145 | 179 | 238 | 373 | 278 | 310 |
| Profit before tax | 230 | 379 | 398 | 125 | 224 | -44 |
| Tax % | 33% | 34% | 41% | 17% | 72% | 275% |
| 154 | 250 | 233 | 104 | 62 | -164 | |
| EPS in Rs | 1.56 | 2.53 | 2.48 | 1.39 | 0.91 | -1.12 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | 8% |
| TTM: | -4% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | -228% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 6% |
| 3 Years: | 2% |
| Last Year: | -5% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 540 | 839 | 1,144 | 1,306 | 1,478 | 1,366 | 4,718 |
| 2,969 | 3,189 | 4,622 | 5,641 | 6,254 | 6,563 | 4,560 | |
| 1,675 | 1,895 | 2,468 | 2,203 | 2,498 | 2,966 | 3,492 | |
| Total Liabilities | 6,169 | 6,909 | 9,221 | 10,136 | 11,216 | 11,881 | 14,105 |
| 3,293 | 4,224 | 4,573 | 4,645 | 6,189 | 6,785 | 6,820 | |
| CWIP | 920 | 294 | 876 | 1,591 | 770 | 1,038 | 1,772 |
| Investments | 320 | 354 | 484 | 714 | 759 | 345 | 357 |
| 1,636 | 2,036 | 3,288 | 3,186 | 3,498 | 3,714 | 5,155 | |
| Total Assets | 6,169 | 6,909 | 9,221 | 10,136 | 11,216 | 11,881 | 14,105 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 723 | 783 | 339 | 653 | 1,408 | 737 | |
| -765 | -686 | -1,530 | -1,808 | -1,120 | -558 | |
| 119 | -95 | 1,260 | 1,041 | -221 | -232 | |
| Net Cash Flow | 77 | 1 | 69 | -114 | 67 | -53 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 53 | 59 | 60 | 45 | 48 | 49 |
| Inventory Days | 261 | 128 | 143 | 104 | 132 | 105 |
| Days Payable | 448 | 334 | 336 | 253 | 339 | 305 |
| Cash Conversion Cycle | -134 | -147 | -133 | -103 | -159 | -150 |
| Working Capital Days | -115 | -106 | -24 | -29 | -116 | -95 |
| ROCE % | 15% | 12% | 6% | 8% | 5% |
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
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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.