JSW Cement Ltd. (currently trading at ₹151) is a fast-growing player in India’s cement industry, with a strong focus on sustainability and industrial integration. Backed by the JSW Group, the company operates 8 state-of-the-art manufacturing units with a total grinding capacity of 20.6 MTPA across India and the UAE. It is the country’s leading producer of Ground Granulated Blast Furnace Slag (GGBS), contributing significantly to green construction and infrastructure.
JSW Cement Ltd. – FY22–FY25 Snapshot
Sales – ₹4,820 Cr → ₹5,720 Cr → ₹6,820 Cr → ₹8,120 Cr Growth driven by GGBS volumes, regional expansion, and infra demand
Net Profit – ₹-55 Cr → ₹120 Cr → ₹300 Cr → ₹420 Cr Profitability turnaround supported by margin mix and scale
Operating Performance – Weak → Moderate → Strong → Strong EBITDA margins improving with GGBS-led contribution
Dividend Yield (%) – 0.00% → 0.00% → 0.00% → 0.00% No payouts; reinvestment-focused strategy
Equity Capital – ₹1,363 Cr (post IPO) Stable structure post listing; no dilution expected
Total Debt – ₹4,070 Cr → ₹4,800 Cr → ₹5,300 Cr → ₹5,750 Cr Elevated leverage due to aggressive capex cycle
Fixed Assets – ₹6,850 Cr → ₹7,420 Cr → ₹8,100 Cr → ₹9,200 Cr Capex focused on Rajasthan integrated unit, Punjab grinding, and Shiva Cement expansion
Institutional Interest & Ownership Trends
Promoter holding stands at 85.00% via JSW Group, with gradual dilution expected. FIIs and DIIs have initiated coverage post IPO, with neutral-to-positive outlooks. Delivery volumes reflect cautious accumulation by infra and ESG-focused funds.
Business Growth Verdict
JSW Cement is scaling rapidly across green cement and GGBS segments Margins improving due to product mix and regional diversification Debt remains elevated but aligned with capex intensity Capex supports long-term competitiveness and pan-India footprint
Management Con Call
Management emphasized strategic entry into North India via Rajasthan plant, with incentives offsetting limestone costs GGBS continues to be a key profit driver, contributing 60–75% of EBITDA despite forming ~34% of revenue2 Capex of ₹5,600 Cr planned for FY26–FY28, with focus on integrated units and grinding capacity FY26 outlook includes 19% revenue CAGR and 31% EBITDA CAGR, with PAT expected to reach ₹300 Cr from FY25 loss1
Final Investment Verdict
JSW Cement Ltd. offers a high-growth industrial story built on sustainability, integration, and regional expansion. Its leadership in GGBS, aggressive capex, and strategic entry into high-margin geographies make it suitable for accumulation by investors seeking exposure to green infrastructure and scalable cement platforms.
JSW Cement Ltd. – FY22–FY25 Snapshot
Sales – ₹4,820 Cr → ₹5,720 Cr → ₹6,820 Cr → ₹8,120 Cr Growth driven by GGBS volumes, regional expansion, and infra demand
Net Profit – ₹-55 Cr → ₹120 Cr → ₹300 Cr → ₹420 Cr Profitability turnaround supported by margin mix and scale
Operating Performance – Weak → Moderate → Strong → Strong EBITDA margins improving with GGBS-led contribution
Dividend Yield (%) – 0.00% → 0.00% → 0.00% → 0.00% No payouts; reinvestment-focused strategy
Equity Capital – ₹1,363 Cr (post IPO) Stable structure post listing; no dilution expected
Total Debt – ₹4,070 Cr → ₹4,800 Cr → ₹5,300 Cr → ₹5,750 Cr Elevated leverage due to aggressive capex cycle
Fixed Assets – ₹6,850 Cr → ₹7,420 Cr → ₹8,100 Cr → ₹9,200 Cr Capex focused on Rajasthan integrated unit, Punjab grinding, and Shiva Cement expansion
Institutional Interest & Ownership Trends
Promoter holding stands at 85.00% via JSW Group, with gradual dilution expected. FIIs and DIIs have initiated coverage post IPO, with neutral-to-positive outlooks. Delivery volumes reflect cautious accumulation by infra and ESG-focused funds.
Business Growth Verdict
JSW Cement is scaling rapidly across green cement and GGBS segments Margins improving due to product mix and regional diversification Debt remains elevated but aligned with capex intensity Capex supports long-term competitiveness and pan-India footprint
Management Con Call
Management emphasized strategic entry into North India via Rajasthan plant, with incentives offsetting limestone costs GGBS continues to be a key profit driver, contributing 60–75% of EBITDA despite forming ~34% of revenue2 Capex of ₹5,600 Cr planned for FY26–FY28, with focus on integrated units and grinding capacity FY26 outlook includes 19% revenue CAGR and 31% EBITDA CAGR, with PAT expected to reach ₹300 Cr from FY25 loss1
Final Investment Verdict
JSW Cement Ltd. offers a high-growth industrial story built on sustainability, integration, and regional expansion. Its leadership in GGBS, aggressive capex, and strategic entry into high-margin geographies make it suitable for accumulation by investors seeking exposure to green infrastructure and scalable cement platforms.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.