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Latest: JSW Cement Ltd Q2 FY27 (Jul–Sep 2026) results →This page is Q1 FY27 (Apr–Jun 2026).All Q1 FY27 results →
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JSW Cement Ltd

Q1 FY27Cement & Cement Products

JSW Cement Q1 FY27 earnings call: Revenue & Margins

Q1 FY27 earnings call: what management said on revenue, margins and capex.

Price₹125
Market cap₹17.2K Cr
P/E21.8
Updated25 Aug 2026
Read5 min read

What the Q1 FY27 call signalled

2 of 4 strong

RevenueModerate growth
MarginMargins steady
CapexCapex planned
Order bookOrder book rising

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

Moderate growth
  • 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.

2 more points from JSW Cement Ltd's call on revenue

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Profitability & Margins

See what JSW Cement Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex planned
  • 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.

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

Guidance-ranked
1Grasim Inds
Rev 1Mar 3
2J K Cements
Rev 2Mar 3
3
Rev 3Mar 1
4
Rev 3Mar 3
5
Rev 3Mar 3
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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

Order book rising
  • 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.

2 more points from JSW Cement Ltd's call on order book

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JSW Cement Ltd — Quarterly revenue & net profit

Revenue Net profit Net loss
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26
Jun 2026Q1 FY27
Sep 2026Q2 FY27

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.

Full financials →

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What JSW Cement's management said in earlier quarters

Others in Cement & Cement Products this season

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    Q1-FY27 EBITDA: INR 396 Mn with 11.52% margin (Page 30) . Key concall takeaways from NCL Industries Ltd's Q1 FY27 earnings call — and how it ranks against…

  • Prism Johnson (Q1 FY27)

    Consolidated Revenue Q1 FY27:** ₹1,844 Cr, up 2.7% YoY (Page 42) . Key concall takeaways from Prism Johnson Ltd's Q1 FY27 earnings call — and how it ranks…

  • The Ramco Cement (Q1 FY27)

    Standalone total revenue for 1QFY27: ₹2,276.18 Cr, up 10% YoY (Page 10) . Key concall takeaways from The Ramco Cements Ltd's Q1 FY27 earnings call — and how it…

  • Birla Corpn. (Q1 FY27)

    No deferral of capacity expansion plans; currently operating at over 90% capacity, indicating no constraint for growth. Key concall takeaways from Birla…

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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.

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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.