Re-appointment of Cost Auditor & Internal Auditor
JSWCEMENT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
JSW Cement's Board approved audited FY2026 standalone and consolidated results. Consolidated revenue for the year stood at Rs 6,512 crore vs Rs 5,813 crore in FY2025. However, the company reported a consolidated net loss of Rs 799 crore for FY2026, compared to a net loss of Rs 164 crore in the prior year. The significant loss was driven by exceptional items including a Rs 1,466 crore charge from CCPS conversion, Rs 27 crore labour code provision, and Rs 11 crore provision for disputed government incentives. The Board recommended a dividend of Rs 0.50 per equity share (5% on Rs 10 face value). Key re-appointments include CEO Nilesh Narwekar for 3 years from August 2026 and Independent Director Sumit Banerjee for a second 5-year term from July 2026, both subject to shareholder approval. Internal Auditor Mr. Amresh Shrivastava and Cost Auditor M/s Kishore Bhatia & Associates were reappointed for FY 2026-27. The Board also approved adding 2.5 MTPA cement grinding capacity at its Nagaur (Rajasthan) unit at an investment of Rs 430 crore, to be commissioned by January 2028.
While revenue grew year-on-year, the large exceptional items drove a deep net loss for the year. The CEO and auditor re-appointments signal management continuity and stable governance. The capacity expansion at Nagaur supports long-term volume growth. The dividend is modest given the loss-making position.