JSW Cement Limited has informed the Exchange about Transcript of the Results Conference Call held after the Board Meeting on 21st May, 2026.
JSWCEMENT · price
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JSW Cement reported strong Q4 FY26 results with revenue up 11% Y-o-Y to INR1,895 crores and operating EBITDA jumping 46% to INR365 crores (19.3% margin, up 460 bps). Full year FY26 revenue was INR6,512 crores with operating EBITDA of INR1,240 crores (+44% Y-o-Y). The company highlighted its newly commissioned Nagaur plant in Rajasthan (commercial ops from March 30, 2026) as a launch pad into North India, with additional 1 million ton grinding capacity expected soon and Board approving a further 2.5 MTPA expansion at Nagaur (INR430 crores, targeting FY28). Management guided FY27 volume growth in mid-to-high teens (excluding North) and detailed cost savings of ~INR100/ton expected in FY27 across power, logistics and premiumization. The UAE grinding unit is delayed by about a month to April 2027 due to the West Asia conflict. The Punjab plant EC is delayed due to upcoming state elections. Capex guidance is INR2,300 crores for FY27 and INR2,200 crores for FY28. The company adopted the new tax regime from FY27 onwards (25% tax rate).
Strong operational execution with margin expansion signals pricing power and cost control. The North India expansion represents a major growth catalyst but adds near-term costs (INR23 crores in Q4). The Punjab delay being offset by additional Rajasthan grinding capacity shows management flexibility. Dividend of INR0.50/share announced. The West Asia situation creates some near-term demand uncertainty but management remains confident on FY27 guidance.