JSW Cement Ltd
JSW Cement Ltd Q1 FY27 Results & Concall Highlights: Revenue, Margins & Order Book
Q1 FY27 earnings call: what management guided on revenue, margins and order book.
What the Q1 FY27 call signalled
2 of 4 strong
Not discussed on this call: fundraise.
The short version
JSW Cement expects high teens volume growth overall for FY27, including North operations. North plant EBITDA break-even expected in Q2 FY27 at 55%-60% utilization; profitability to improve with commissioning of Waste Heat Recovery System (WHRS), Overland Belt Conveyor (OLBC), and increased use of low-cost fuels like lignite (Page 16). - Company targets high teens volume growth in cement including North operations for FY27, with high single-digit growth for GGBS; outlook tied to infrastructure and capex growth (Pages 6, 12, 13). - Marketing spend for North region approx.
From JSW Cement Ltd's Q1 FY27 earnings-call transcript · updated 25 Aug 2026.
Revenue & Sales Performance
- JSW Cement expects high teens volume growth overall for FY27, including North operations.
- Excluding North, cement volume growth was 8% in Q1.
- GGBS segment is expected to grow in the high single digits for FY27.
- The growth outlook for GGBS depends strongly on capex and infrastructure growth, with positive prospects continuing into FY28.
- North operations are scaling rapidly, aiming for 60%+ utilization by year-end and EBITDA break-even in Q2 FY27.
- Residential and infrastructure projects in multiple regions (Mumbai, Pune, Chennai, Hyderabad, Karnataka, etc.) support strong demand.
- The company plans a significant capacity expansion, aiming to increase installed capacity from 24.1 to 43.5 million tons in the next few years, with long-term plans for 68 million tons.
- Revenue from Ready Mix Concrete (RMC) is targeted north of INR1,000 crores with expansion planned across regions.
Profitability & Margins
See what JSW Cement Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- JSW Cement plans a capex of INR 2,300 crores for FY27 and around INR 2,000 crores for FY28.
- The company aims to expand capacity from 24.1 million tons currently to about 43.5 million tons over the next few years, requiring a total capex of INR 7,500 - 7,600 crores.
- Key ongoing/future projects include:
- - Vijayanagar Phase 1 delayed beyond CY28 to optimize capacity utilization.
- - Fujairah plant: Groundbreaking done; commissioning expected within 12 months.
- - Dolvi expansion: Work to start soon; commissioning expected 15 months from start.
- - Nagaur project: Total capex about INR 3,500 crores; INR 2,400 – 2,500 crores spent so far.
- - Punjab expansion: Land largely acquired; pending environmental clearance before work can start.
- Green energy capacity to reach 60%+ implementation by Q3 FY27.
- Capex includes investments in waste heat recovery system (WHRS), overland belt conveyor (OLBC), and alternate fuel/biomass co-processing (AFR).
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
See what JSW Cement Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- JSW Cement has received approvals for over 29 large infrastructure projects in Q1 FY27.
- The project pipeline for infrastructure and large projects remains robust.
- The demand outlook for the rest of the year is very strong, supported by projects such as:
- - Mumbai Metropolitan Region (MMR) bullet train.
- - Western Coastal Road project in Mumbai.
- - Pune Ring Road and metro projects.
- - Amaravati new capital development in Andhra Pradesh.
- - Nuclear power plant expansion in North Karnataka.
- - Large road packages in Chennai and Kerala.
- Strong residential activity in Pune, Hyderabad, Bangalore, Mumbai, and suburbs supports non-trade cement and GGBS business.
- Overall, the orderbook and impending demand from infrastructure and residential projects remain healthy and positive for growth.
JSW Cement Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.9K Cr, net profit ₹362 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
Full financials →Continue your research
What JSW Cement Ltd's management said in earlier quarters
Others in Cement & Cement Products this season
- Orient Cement Ltd (Q1 FY27)
July saw an 8% year-on-year growth in trade volumes, indicating a positive momentum after prior disruptions. Key concall takeaways from Orient Cement's Q1 FY27…
- J K Cements Ltd (Q1 FY27)
Capex plans include INR3500 crores for FY27 and around INR1200 crores for FY28, with potential additional expansions. Key concall takeaways from J K Cements's…
- Nuvoco Vistas Corporation Ltd (Q1 FY27)
Capex of INR 900 crore for FY27 (with INR 370 crore spent in Q1) supports capacity expansions and operational improvements. Key concall takeaways from Nuvoco…
- Dalmia Bharat Ltd (Q1 FY27)
Dalmia delivered 9% volume growth in Q1 FY27, outpacing industry growth by 200-250 bps (Page 10). Key concall takeaways from Dalmia BharatLtd's Q1 FY27…
Frequently Asked Questions
What were JSW Cement Ltd Q1 FY27 results?
JSW Cement expects high teens volume growth overall for FY27, including North operations. North plant EBITDA break-even expected in Q2 FY27 at 55%-60% utilization; profitability to improve with commissioning of Waste Heat Recovery System (WHRS), Overland Belt Conveyor (OLBC), and increased use of low-cost fuels like lignite (Page 16). - Company targets high teens volume growth in cement including North operations for FY27, with high single-digit growth for GGBS; outlook tied to infrastructure and capex growth (Pages 6, 12, 13). - Marketing spend for North region approx.
What is JSW Cement Ltd share price analysis?
JSW Cement Ltd currently shows a below-average growth signal. The stock trades at a P/E of 21.8 with a market cap of ₹17,184 Cr. Investors should review the full earnings analysis for detailed insights.
Is JSW Cement Ltd planning capital expenditure?
JSW Cement plans a capex of INR 2,300 crores for FY27 and around INR 2,000 crores for FY28.
Keep JSW Cement Ltd on your radar — track it to get its next earnings analysis in your feed.
This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.