JSW Cement Ltd
JSW Cement Q1 FY26 earnings call: Revenue & Margins
Q1 FY26 earnings call: what management said on revenue, margins and capex.
Guidance rank: #8 of 17 in Cement & Cement Products
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The short version
JSW Cement expects cement demand in India to grow at 6.5% to 7.5% in FY26, driven by healthy monsoon and increased government infrastructure spending. JSW Cement aims to increase EBITDA per ton to INR1,150-1,200 sustainably as it moves into attractive geographies (Page 11).
From JSW Cement Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- JSW Cement expects cement demand in India to grow at 6.5% to 7.5% in FY26, driven by healthy monsoon and increased government infrastructure spending.
- Total sales volume increased 7.8% YoY in Q1 FY26, outperforming industry growth (~3%).
- Cement volume grew 10% YoY; GGBS volume grew 5% YoY in Q1 FY26.
- For FY26, GGBS blended sales volume expected around 39%-40%, decreasing to 35%-37% in FY27 and ~35% by FY28 due to North expansion, although absolute GGBS sales will increase.
- Trade mix expected to rise from 52% to around 55% due to entry into North India with higher trade percentages.
2 more points from JSW Cement Ltd's call on revenue
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Profitability & Margins
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Capital Expenditure Plans
- FY26 capex is expected around INR 2,000 crores, including commissioning of:
- 1 million ton grinding capacity at Sambalpur.
- Integrated unit at Nagaur (2.5 million ton grinding, 3.3 million ton clinkerization).
- FY27 planned capex also around INR 2,000 crores; expansions include:
- Additional 1 million ton capacity at Nagaur (by April 2027).
- Talwandi Sabo unit (by June 2027).
- Capacity goals:
- Targeting 34 MTPA capacity by CY 2028 with grinding expansions at Vijayanagar (2 million) and Dolvi (4 million by 2028).
- Strategic investments:
- Fujairah clinker capacity currently a JV with financial investors, expected to become a full subsidiary over time.
2 more points from JSW Cement Ltd's call on capex
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Top-ranked in Cement & Cement Products
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
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JSW Cement Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹1.9K Cr, net profit ₹78 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What JSW Cement Ltd's management said in earlier quarters
Others in Cement & Cement Products this season
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Q1 FY26 consolidated revenue from operations: ₹1,796 Crores, up 7.8% YoY (Page 3). Key concall takeaways from Prism Johnson Ltd's Q1 FY26 earnings call — and…
- The Ramco Cement (Q1 FY26)
Revenue for 1QFY26: ₹2,076.61 Crores (Standalone) and ₹2,080.00 Crores (Consolidated), a 1% decrease YoY from ₹2,096.87 Crores and ₹2,101.65 Crores…
- UltraTech Cem. (Q1 FY26)
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- BIGBLOC Construction Ltd (Q1 FY26)
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Potential multibaggers · Q2 FY27
Potential multibaggers in Cement & Cement Products
on management's own guidance
- BIGBLOC Const.Good growth2
- Strong growth1
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were JSW Cement Ltd Q1 FY26 results?
JSW Cement expects cement demand in India to grow at 6.5% to 7.5% in FY26, driven by healthy monsoon and increased government infrastructure spending. JSW Cement aims to increase EBITDA per ton to INR1,150-1,200 sustainably as it moves into attractive geographies (Page 11).
What is JSW Cement Ltd share price analysis?
JSW Cement Ltd currently shows a neutral. The stock trades at a P/E of 27.6 with a market cap of ₹18,002 Cr. Investors should review the full earnings analysis for detailed insights.
Is JSW Cement Ltd planning capital expenditure?
FY26 capex is expected around INR 2,000 crores, including commissioning of: - 1 million ton grinding capacity at Sambalpur.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.