JSW Cement Ltd.
•₹ 126.040.73%
2026-08-21
PROS
- Latest quarter profit grew 111.2% YoY, showing strong momentum
- Operating margins have improved to 17.0% from 13.2%
- Institutional investors have been accumulating - FII+DII up 6.0pp
- Company generates healthy free cash flow
CONS
- Company is loss-making at the operating / net level
- Promoter holding has decreased over last 2 years: -28.0pp
- Company has a low return on equity of -7.6% over last 3 years
- Company has a low return on capital employed of 3.0%
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -3.68x)
- Interest coverage is weak at -1.1x - earnings barely cover interest
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | ULTRACEMCO | 11460.00 | 39.55 | 337702.33 | 2.09 | 2603.72 | 17.24 | 24648.20 | 15.85 | 13.25 | 20.35 |
| 2. | AMBUJACEM | 406.00 | 23.05 | 100883.58 | 0.49 | 660.00 | -31.93 | 9500.00 | -7.67 | 6.24 | 16.78 |
| 3. | SHREECEM | 24360.00 | 53.92 | 87892.70 | 0.62 | 531.12 | -17.48 | 6233.13 | 18.03 | 10.61 | 20.41 |
| 4. | JKCEMENT | 5280.65 | 43.15 | 40802.66 | 0.38 | 274.62 | -15.31 | 4031.72 | 20.26 | 14.89 | 16.07 |
| 5. | DALBHARAT | 1875.00 | 37.69 | 35168.62 | 0.48 | 192.00 | -51.39 | 3890.00 | 6.99 | 8.15 | 20.69 |
| 6. | ACC | 1289.40 | 12.69 | 24213.29 | 0.58 | 147.00 | -60.84 | 5808.00 | -4.59 | 11.60 | 7.90 |
| 7. | RAMCOCEM | 900.85 | 33.01 | 21286.40 | 0.28 | 31.24 | -63.06 | 2273.05 | 9.60 | 10.75 | 13.49 |
| 8. | JSWCEMENT | 123.95 | 22.22 | 16898.91 | 0.40 | 153.43 | 111.23 | 1896.41 | 21.58 | -4.21 | 16.41 |
| 9. | NUVOCO | 318.90 | 29.51 | 11389.71 | 0.00 | 159.63 | 19.88 | 3128.71 | 8.91 | 7.11 | 18.16 |
| 10. | INDIACEM | 366.40 | 122.77 | 11354.63 | 0.00 | 26.85 | 120.20 | 1019.42 | -0.52 | 0.30 | 15.28 |
| 11. | STARCEMENT | 194.00 | 21.21 | 7841.10 | 0.52 | 73.91 | -24.71 | 942.89 | 3.39 | 8.42 | 20.63 |
| 12. | JKLAKSHMI | 557.45 | 18.71 | 6920.43 | 1.17 | 108.07 | -27.90 | 1904.78 | 9.41 | 12.36 | 13.63 |
Detailed Comparison with:
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| 1,447 | 1,224 | 1,433 | 1,709 | 1,560 | 1,436 | 1,621 | 1,895 | 1,896 | |
| 1,247 | 1,099 | 1,284 | 1,469 | 1,237 | 1,169 | 1,336 | 1,530 | 1,793 | |
| Operating Profit | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — |
| Other Income | 24 | 27 | 28 | 21 | 22 | 24 | 86 | 21 | 74 |
| Interest | 110 | 109 | 116 | 114 | 102 | 100 | 87 | 89 | 97 |
| Depreciation | 74 | 77 | 81 | 79 | 78 | 80 | 81 | 84 | 98 |
| 40 | -34 | -20 | 69 | -1,302 | 111 | 170 | 209 | 190 | |
| Tax % | 80.44% | -3.86% | -133.91% | 86.36% | -4.98% | 41.22% | 31.65% | -70.28% | 19.32% |
| Net Profit | 0 | 0 | 0 | 0 | -1,366 | 75 | 131 | 362 | 153 |
| -0 | -1 | -1 | 0 | -14 | 1 | 1 | 3 | 0 | |
| Equity Capital | 986 | 986 | 986 | 986 | 986 | 1,334 | 1,339 | 1,341 | 1,350 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 986 | 986 | 986 | 986 | 986 | 1,334 | 1,339 | 1,341 | 1,350 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2024
- 1,447
- 1,247
- Operating Profit
- —
- OPM %
- —
- Other Income
- 24
- Interest
- 110
- Depreciation
- 74
- 40
- Tax %
- 80.44%
- Net Profit
- 0
- -0
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 1,224
- 1,099
- Operating Profit
- —
- OPM %
- —
- Other Income
- 27
- Interest
- 109
- Depreciation
- 77
- -34
- Tax %
- -3.86%
- Net Profit
- 0
- -1
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 1,433
- 1,284
- Operating Profit
- —
- OPM %
- —
- Other Income
- 28
- Interest
- 116
- Depreciation
- 81
- -20
- Tax %
- -133.91%
- Net Profit
- 0
- -1
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 1,709
- 1,469
- Operating Profit
- —
- OPM %
- —
- Other Income
- 21
- Interest
- 114
- Depreciation
- 79
- 69
- Tax %
- 86.36%
- Net Profit
- 0
- 0
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 1,560
- 1,237
- Operating Profit
- —
- OPM %
- —
- Other Income
- 22
- Interest
- 102
- Depreciation
- 78
- -1,302
- Tax %
- -4.98%
- Net Profit
- -1,366
- -14
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 1,436
- 1,169
- Operating Profit
- —
- OPM %
- —
- Other Income
- 24
- Interest
- 100
- Depreciation
- 80
- 111
- Tax %
- 41.22%
- Net Profit
- 75
- 1
- Equity Capital
- 1,334
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 1,334
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 1,621
- 1,336
- Operating Profit
- —
- OPM %
- —
- Other Income
- 86
- Interest
- 87
- Depreciation
- 81
- 170
- Tax %
- 31.65%
- Net Profit
- 131
- 1
- Equity Capital
- 1,339
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 1,339
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 1,895
- 1,530
- Operating Profit
- —
- OPM %
- —
- Other Income
- 21
- Interest
- 89
- Depreciation
- 84
- 209
- Tax %
- -70.28%
- Net Profit
- 362
- 3
- Equity Capital
- 1,341
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 1,341
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 1,896
- 1,793
- Operating Profit
- —
- OPM %
- —
- Other Income
- 74
- Interest
- 97
- Depreciation
- 98
- 190
- Tax %
- 19.32%
- Net Profit
- 153
- 0
- Equity Capital
- 1,350
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 1,350
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,415 | 1,717 | 2,722 | 2,928 | 3,862 | 4,669 | 5,837 | 6,028 | 5,813 | 6,512 | 6,849 | |
| 1,108 | 1,290 | 2,282 | 2,326 | 3,039 | 3,912 | 5,155 | 5,095 | 5,099 | 5,272 | 5,828 | |
| Operating Profit | 398 | 451 | 490 | 642 | 884 | 951 | 827 | 1,019 | 815 | 1,393 | — |
| OPM % | 28 | 26 | 18 | 22 | 23 | 20 | 14 | 17 | 14 | 21 | — |
| Other Income | 92 | 24 | 50 | 40 | 62 | 195 | 145 | 86 | 102 | 152 | 204 |
| Interest | 134 | 195 | 237 | 268 | 291 | 315 | 310 | 435 | 450 | 378 | 373 |
| Depreciation | 54 | 81 | 116 | 145 | 179 | 238 | 373 | 278 | 310 | 322 | 342 |
| 210 | 164 | 137 | 230 | 379 | 397 | 125 | 224 | -44 | -781 | 680 | |
| Tax % | 46 | 4 | 34 | 33 | 34 | 41 | 17 | 72 | -275 | -2 | -2 |
| Net Profit | 114 | 158 | 90 | 154 | 250 | 233 | 104 | 62 | -164 | -799 | 690 |
| EPS | 2 | 2 | 1 | 2 | 3 | 2 | 1 | 1 | -1 | -6 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -9 | — |
| Minority Interest | 0 | 0 | 10 | 10 | 9 | 12 | 33 | 28 | 50 | 42 | -7 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 43 |
| Adjusted EPS | 3 | 2 | 1 | 2 | 3 | 2 | 1 | 1 | -1 | -6 | — |
| Minority Interest | 0 | 0 | 10 | 10 | 9 | 12 | 33 | 28 | 50 | 42 | -7 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 43 |
| Adjusted EPS | 3 | 2 | 1 | 2 | 3 | 2 | 1 | 1 | -1 | -6 | — |
Mar 2017
- 1,415
- 1,108
- Operating Profit
- 398
- OPM %
- 28
- Other Income
- 92
- Interest
- 134
- Depreciation
- 54
- 210
- Tax %
- 46
- Net Profit
- 114
- EPS
- 2
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
Mar 2018
- 1,717
- 1,290
- Operating Profit
- 451
- OPM %
- 26
- Other Income
- 24
- Interest
- 195
- Depreciation
- 81
- 164
- Tax %
- 4
- Net Profit
- 158
- EPS
- 2
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
Mar 2019
- 2,722
- 2,282
- Operating Profit
- 490
- OPM %
- 18
- Other Income
- 50
- Interest
- 237
- Depreciation
- 116
- 137
- Tax %
- 34
- Net Profit
- 90
- EPS
- 1
- Dividend Payout %
- 0
- Minority Interest
- 10
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 10
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2020
- 2,928
- 2,326
- Operating Profit
- 642
- OPM %
- 22
- Other Income
- 40
- Interest
- 268
- Depreciation
- 145
- 230
- Tax %
- 33
- Net Profit
- 154
- EPS
- 2
- Dividend Payout %
- 0
- Minority Interest
- 10
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- 10
- Share of Associates
- 0
- Adjusted EPS
- 2
Mar 2021
- 3,862
- 3,039
- Operating Profit
- 884
- OPM %
- 23
- Other Income
- 62
- Interest
- 291
- Depreciation
- 179
- 379
- Tax %
- 34
- Net Profit
- 250
- EPS
- 3
- Dividend Payout %
- 0
- Minority Interest
- 9
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 9
- Share of Associates
- 0
- Adjusted EPS
- 3
Mar 2022
- 4,669
- 3,912
- Operating Profit
- 951
- OPM %
- 20
- Other Income
- 195
- Interest
- 315
- Depreciation
- 238
- 397
- Tax %
- 41
- Net Profit
- 233
- EPS
- 2
- Dividend Payout %
- 0
- Minority Interest
- 12
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- 12
- Share of Associates
- 0
- Adjusted EPS
- 2
Mar 2023
- 5,837
- 5,155
- Operating Profit
- 827
- OPM %
- 14
- Other Income
- 145
- Interest
- 310
- Depreciation
- 373
- 125
- Tax %
- 17
- Net Profit
- 104
- EPS
- 1
- Dividend Payout %
- 0
- Minority Interest
- 33
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 33
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2024
- 6,028
- 5,095
- Operating Profit
- 1,019
- OPM %
- 17
- Other Income
- 86
- Interest
- 435
- Depreciation
- 278
- 224
- Tax %
- 72
- Net Profit
- 62
- EPS
- 1
- Dividend Payout %
- 0
- Minority Interest
- 28
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 28
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2025
- 5,813
- 5,099
- Operating Profit
- 815
- OPM %
- 14
- Other Income
- 102
- Interest
- 450
- Depreciation
- 310
- -44
- Tax %
- -275
- Net Profit
- -164
- EPS
- -1
- Dividend Payout %
- 0
- Minority Interest
- 50
- Share of Associates
- 0
- Adjusted EPS
- -1
- Minority Interest
- 50
- Share of Associates
- 0
- Adjusted EPS
- -1
Mar 2026
- 6,512
- 5,272
- Operating Profit
- 1,393
- OPM %
- 21
- Other Income
- 152
- Interest
- 378
- Depreciation
- 322
- -781
- Tax %
- -2
- Net Profit
- -799
- EPS
- -6
- Dividend Payout %
- -9
- Minority Interest
- 42
- Share of Associates
- 0
- Adjusted EPS
- -6
- Minority Interest
- 42
- Share of Associates
- 0
- Adjusted EPS
- -6
TTM
- 6,849
- 5,828
- Operating Profit
- —
- OPM %
- —
- Other Income
- 204
- Interest
- 373
- Depreciation
- 342
- 680
- Tax %
- -2
- Net Profit
- 690
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- -7
- Share of Associates
- 43
- Adjusted EPS
- —
- Minority Interest
- -7
- Share of Associates
- 43
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 18%
- 5 Years:
- 11%
- 3 Years:
- 4%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- -19%
RETURN ON EQUITY
- 10 Years:
- 7%
- 5 Years:
- -1%
- 3 Years:
- -8%
- Last Year:
- -18%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 451 | 986 | 986 | 986 | 986 | 986 | 986 | 986 | 986 | 1,341 |
| 87 | 264 | 363 | 533 | 798 | 1,098 | 1,226 | 1,385 | 1,215 | 5,101 | |
| 296 | 432 | 429 | 773 | 1,065 | 571 | 776 | 550 | 280 | 159 | |
| Trade Payables | 342 | 506 | 728 | 788 | 914 | 1,083 | 1,084 | 1,222 | 1,238 | 1,439 |
| 1,936 | 2,226 | 2,640 | 3,089 | 3,146 | 5,483 | 6,064 | 7,073 | 8,162 | 6,346 | |
| Total Liabilities | 3,111 | 4,414 | 5,147 | 6,169 | 6,909 | 9,221 | 10,136 | 11,216 | 11,881 | 14,385 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 1,510 | 2,637 | 3,079 | 3,293 | 4,224 | 4,573 | 4,645 | 6,189 | 6,785 | 8,480 | |
| Capital Work in Progress | 651 | 453 | 391 | 916 | 289 | 872 | 1,575 | 739 | 1,025 | 958 |
| 160 | 27 | 29 | 320 | 354 | 484 | 714 | 759 | 345 | 290 | |
| 158 | 229 | 280 | 459 | 349 | 460 | 448 | 475 | 428 | 602 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 783 | 782 | 854 | |
| Cash & Bank | 126 | 295 | 37 | 114 | 136 | 555 | 55 | 316 | 124 | 500 |
| 507 | 773 | 1,331 | 1,067 | 1,557 | 2,277 | 2,698 | 1,955 | 2,393 | 2,703 | |
| Total Assets | 3,111 | 4,414 | 5,147 | 6,169 | 6,909 | 9,221 | 10,136 | 11,216 | 11,881 | 14,385 |
| Total Debt | 1,781 | 2,186 | 2,549 | 2,956 | 3,189 | 4,622 | 5,422 | 5,836 | 6,167 | 4,082 |
| Net Working Capital | -342 | -357 | -286 | -800 | -985 | 249 | -414 | -1,270 | -1,304 | -1,097 |
| Contingent Liabilities | 35 | 75 | 84 | 79 | 102 | 79 | 86 | 104 | 111 | 153 |
| Book Value per Share | 11.94 | 12.67 | 13.68 | 15.41 | 18.09 | 21.13 | 22.43 | 24.04 | 22.31 | 48.03 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 1,781 | 2,186 | 2,549 | 2,956 | 3,189 | 4,622 | 5,422 | 5,836 | 6,167 | 4,082 |
| Net Working Capital | -342 | -357 | -286 | -800 | -985 | 249 | -414 | -1,270 | -1,304 | -1,097 |
| Contingent Liabilities | 35 | 75 | 84 | 79 | 102 | 79 | 86 | 104 | 111 | 153 |
| Book Value per Share | 11.94 | 12.67 | 13.68 | 15.41 | 18.09 | 21.13 | 22.43 | 24.04 | 22.31 | 48.03 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Mar 2017
- Equity Capital
- 451
- 87
- 296
- Trade Payables
- 342
- 1,936
- Total Liabilities
- 3,111
- 1,510
- Capital Work in Progress
- 651
- 160
- 158
- 0
- Cash & Bank
- 126
- 507
- Total Assets
- 3,111
- Total Debt
- 1,781
- Net Working Capital
- -342
- Contingent Liabilities
- 35
- Book Value per Share
- 11.94
- Face Value
- 10.00
- Total Debt
- 1,781
- Net Working Capital
- -342
- Contingent Liabilities
- 35
- Book Value per Share
- 11.94
- Face Value
- 10.00
Mar 2018
- Equity Capital
- 986
- 264
- 432
- Trade Payables
- 506
- 2,226
- Total Liabilities
- 4,414
- 2,637
- Capital Work in Progress
- 453
- 27
- 229
- 0
- Cash & Bank
- 295
- 773
- Total Assets
- 4,414
- Total Debt
- 2,186
- Net Working Capital
- -357
- Contingent Liabilities
- 75
- Book Value per Share
- 12.67
- Face Value
- 10.00
- Total Debt
- 2,186
- Net Working Capital
- -357
- Contingent Liabilities
- 75
- Book Value per Share
- 12.67
- Face Value
- 10.00
Mar 2019
- Equity Capital
- 986
- 363
- 429
- Trade Payables
- 728
- 2,640
- Total Liabilities
- 5,147
- 3,079
- Capital Work in Progress
- 391
- 29
- 280
- 0
- Cash & Bank
- 37
- 1,331
- Total Assets
- 5,147
- Total Debt
- 2,549
- Net Working Capital
- -286
- Contingent Liabilities
- 84
- Book Value per Share
- 13.68
- Face Value
- 10.00
- Total Debt
- 2,549
- Net Working Capital
- -286
- Contingent Liabilities
- 84
- Book Value per Share
- 13.68
- Face Value
- 10.00
Mar 2020
- Equity Capital
- 986
- 533
- 773
- Trade Payables
- 788
- 3,089
- Total Liabilities
- 6,169
- 3,293
- Capital Work in Progress
- 916
- 320
- 459
- 0
- Cash & Bank
- 114
- 1,067
- Total Assets
- 6,169
- Total Debt
- 2,956
- Net Working Capital
- -800
- Contingent Liabilities
- 79
- Book Value per Share
- 15.41
- Face Value
- 10.00
- Total Debt
- 2,956
- Net Working Capital
- -800
- Contingent Liabilities
- 79
- Book Value per Share
- 15.41
- Face Value
- 10.00
Mar 2021
- Equity Capital
- 986
- 798
- 1,065
- Trade Payables
- 914
- 3,146
- Total Liabilities
- 6,909
- 4,224
- Capital Work in Progress
- 289
- 354
- 349
- 0
- Cash & Bank
- 136
- 1,557
- Total Assets
- 6,909
- Total Debt
- 3,189
- Net Working Capital
- -985
- Contingent Liabilities
- 102
- Book Value per Share
- 18.09
- Face Value
- 10.00
- Total Debt
- 3,189
- Net Working Capital
- -985
- Contingent Liabilities
- 102
- Book Value per Share
- 18.09
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 986
- 1,098
- 571
- Trade Payables
- 1,083
- 5,483
- Total Liabilities
- 9,221
- 4,573
- Capital Work in Progress
- 872
- 484
- 460
- 0
- Cash & Bank
- 555
- 2,277
- Total Assets
- 9,221
- Total Debt
- 4,622
- Net Working Capital
- 249
- Contingent Liabilities
- 79
- Book Value per Share
- 21.13
- Face Value
- 10.00
- Total Debt
- 4,622
- Net Working Capital
- 249
- Contingent Liabilities
- 79
- Book Value per Share
- 21.13
- Face Value
- 10.00
Mar 2023
- Equity Capital
- 986
- 1,226
- 776
- Trade Payables
- 1,084
- 6,064
- Total Liabilities
- 10,136
- 4,645
- Capital Work in Progress
- 1,575
- 714
- 448
- 0
- Cash & Bank
- 55
- 2,698
- Total Assets
- 10,136
- Total Debt
- 5,422
- Net Working Capital
- -414
- Contingent Liabilities
- 86
- Book Value per Share
- 22.43
- Face Value
- 10.00
- Total Debt
- 5,422
- Net Working Capital
- -414
- Contingent Liabilities
- 86
- Book Value per Share
- 22.43
- Face Value
- 10.00
Mar 2024
- Equity Capital
- 986
- 1,385
- 550
- Trade Payables
- 1,222
- 7,073
- Total Liabilities
- 11,216
- 6,189
- Capital Work in Progress
- 739
- 759
- 475
- 783
- Cash & Bank
- 316
- 1,955
- Total Assets
- 11,216
- Total Debt
- 5,836
- Net Working Capital
- -1,270
- Contingent Liabilities
- 104
- Book Value per Share
- 24.04
- Face Value
- 10.00
- Total Debt
- 5,836
- Net Working Capital
- -1,270
- Contingent Liabilities
- 104
- Book Value per Share
- 24.04
- Face Value
- 10.00
Mar 2025
- Equity Capital
- 986
- 1,215
- 280
- Trade Payables
- 1,238
- 8,162
- Total Liabilities
- 11,881
- 6,785
- Capital Work in Progress
- 1,025
- 345
- 428
- 782
- Cash & Bank
- 124
- 2,393
- Total Assets
- 11,881
- Total Debt
- 6,167
- Net Working Capital
- -1,304
- Contingent Liabilities
- 111
- Book Value per Share
- 22.31
- Face Value
- 10.00
- Total Debt
- 6,167
- Net Working Capital
- -1,304
- Contingent Liabilities
- 111
- Book Value per Share
- 22.31
- Face Value
- 10.00
Mar 2026
- Equity Capital
- 1,341
- 5,101
- 159
- Trade Payables
- 1,439
- 6,346
- Total Liabilities
- 14,385
- 8,480
- Capital Work in Progress
- 958
- 290
- 602
- 854
- Cash & Bank
- 500
- 2,703
- Total Assets
- 14,385
- Total Debt
- 4,082
- Net Working Capital
- -1,097
- Contingent Liabilities
- 153
- Book Value per Share
- 48.03
- Face Value
- 10.00
- Total Debt
- 4,082
- Net Working Capital
- -1,097
- Contingent Liabilities
- 153
- Book Value per Share
- 48.03
- Face Value
- 10.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 249 | 427 | 442 | 723 | 783 | 339 | 653 | 1,408 | 737 | 1,170 | |
| Cash from Investing | -740 | -1,000 | -824 | -765 | -686 | -1,530 | -1,793 | -1,120 | -558 | -1,649 |
| Cash from Financing | 599 | 741 | 125 | 119 | -95 | 1,260 | 1,041 | -221 | -232 | 861 |
| 108 | 169 | -257 | 77 | 1 | 69 | -99 | 67 | -53 | 382 | |
| Free Cash Flow | -173 | -590 | -52 | -160 | 301 | -825 | -382 | 419 | -343 | -768 |
| OCF / Net Profit | 2.18 | 2.71 | 4.90 | 4.69 | 3.13 | 1.46 | 6.28 | 22.70 | -4.50 | -1.46 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -674 | -1,326 | -1,118 | -647 | -830 | -1,899 |
| OCF / Net Profit | 2.18 | 2.71 | 4.90 | 4.69 | 3.13 | 1.46 | 6.28 | 22.70 | -4.50 | -1.46 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -674 | -1,326 | -1,118 | -647 | -830 | -1,899 |
Mar 2017
- 249
- Cash from Investing
- -740
- Cash from Financing
- 599
- 108
- Free Cash Flow
- -173
- OCF / Net Profit
- 2.18
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.18
- Cumulative 5-Year FCF
- 0
Mar 2018
- 427
- Cash from Investing
- -1,000
- Cash from Financing
- 741
- 169
- Free Cash Flow
- -590
- OCF / Net Profit
- 2.71
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.71
- Cumulative 5-Year FCF
- 0
Mar 2019
- 442
- Cash from Investing
- -824
- Cash from Financing
- 125
- -257
- Free Cash Flow
- -52
- OCF / Net Profit
- 4.90
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 4.90
- Cumulative 5-Year FCF
- 0
Mar 2020
- 723
- Cash from Investing
- -765
- Cash from Financing
- 119
- 77
- Free Cash Flow
- -160
- OCF / Net Profit
- 4.69
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 4.69
- Cumulative 5-Year FCF
- 0
Mar 2021
- 783
- Cash from Investing
- -686
- Cash from Financing
- -95
- 1
- Free Cash Flow
- 301
- OCF / Net Profit
- 3.13
- Cumulative 5-Year FCF
- -674
- OCF / Net Profit
- 3.13
- Cumulative 5-Year FCF
- -674
Mar 2022
- 339
- Cash from Investing
- -1,530
- Cash from Financing
- 1,260
- 69
- Free Cash Flow
- -825
- OCF / Net Profit
- 1.46
- Cumulative 5-Year FCF
- -1,326
- OCF / Net Profit
- 1.46
- Cumulative 5-Year FCF
- -1,326
Mar 2023
- 653
- Cash from Investing
- -1,793
- Cash from Financing
- 1,041
- -99
- Free Cash Flow
- -382
- OCF / Net Profit
- 6.28
- Cumulative 5-Year FCF
- -1,118
- OCF / Net Profit
- 6.28
- Cumulative 5-Year FCF
- -1,118
Mar 2024
- 1,408
- Cash from Investing
- -1,120
- Cash from Financing
- -221
- 67
- Free Cash Flow
- 419
- OCF / Net Profit
- 22.70
- Cumulative 5-Year FCF
- -647
- OCF / Net Profit
- 22.70
- Cumulative 5-Year FCF
- -647
Mar 2025
- 737
- Cash from Investing
- -558
- Cash from Financing
- -232
- -53
- Free Cash Flow
- -343
- OCF / Net Profit
- -4.50
- Cumulative 5-Year FCF
- -830
- OCF / Net Profit
- -4.50
- Cumulative 5-Year FCF
- -830
Mar 2026
- 1,170
- Cash from Investing
- -1,649
- Cash from Financing
- 861
- 382
- Free Cash Flow
- -768
- OCF / Net Profit
- -1.46
- Cumulative 5-Year FCF
- -1,899
- OCF / Net Profit
- -1.46
- Cumulative 5-Year FCF
- -1,899
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 2.53 | 1.60 | 1.01 | 1.67 | 2.62 | 2.48 | 1.39 | 0.91 | -1.16 | -5.64 |
| Book Value (₹) | 11.94 | 12.67 | 13.68 | 15.41 | 18.09 | 21.13 | 22.43 | 24.04 | 22.31 | 48.03 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.50 |
| Cash EPS (₹) | 3.72 | 2.42 | 2.09 | 3.03 | 4.34 | 4.78 | 4.84 | 3.45 | 1.49 | -3.55 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 25.10% | 23.66% | 16.70% | 20.08% | 20.69% | 18.05% | 13.19% | 14.12% | 10.97% | 17.04% |
| Net Margin % | 7.19% | 8.27% | 3.08% | 4.82% | 5.85% | 4.42% | 1.66% | 0.94% | -2.52% | -10.97% |
| ROE % | 23.76% | 17.65% | 6.95% | 10.76% | 15.12% | 12.03% | 4.84% | 2.71% | -7.16% | -18.48% |
| ROCE % | 18.12% | 12.49% | 10.19% | 11.87% | 14.11% | 12.09% | 6.01% | 8.23% | 4.83% | -4.21% |
| 4.49% | 4.19% | 1.89% | 2.73% | 3.82% | 2.88% | 1.07% | 0.58% | -1.42% | -6.08% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 24 | 28 | 35 | 47 | 45 | 48 | 43 | 41 | 44 | 41 |
| Inventory Days | 34 | 37 | 32 | 42 | 35 | 28 | 26 | 26 | 25 | 26 |
| Payable Days | 481 | 484 | 232 | 315 | 233 | 247 | 200 | 225 | 213 | 203 |
| -422 | -418 | -165 | -226 | -154 | -171 | -130 | -159 | -143 | -137 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 3.31x | 1.75x | 1.89x | 1.95x | 1.79x | 2.22x | 2.45x | 2.46x | 2.80x | 0.63x |
| Interest Coverage (x) | 2.57x | 1.84x | 1.58x | 1.86x | 2.31x | 2.26x | 1.40x | 1.52x | 0.90x | -1.07x |
| 0.66x | 0.74x | 0.82x | 0.63x | 0.63x | 1.10x | 0.85x | 0.68x | 0.65x | 0.72x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 11.22% | 21.33% | 58.59% | 7.54% | 31.92% | 20.89% | 25.02% | 3.28% | -3.57% | 12.03% |
| Operating Profit Growth % | 28.77% | 13.32% | 8.65% | 31.03% | 37.69% | 7.56% | -13.05% | 23.27% | -20.02% | 70.81% |
| Net Profit Growth % | 27.84% | 38.26% | -42.75% | 70.87% | 61.91% | -6.88% | -55.28% | -40.39% | -364.07% | -387.77% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -34.27% | -227.03% | -387.55% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 2.30x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.45% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 6.38x | 8.62x | 13.19x |
Mar 2017
- EPS (₹)
- 2.53
- Book Value (₹)
- 11.94
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.72
- Operating Margin %
- 25.10%
- Net Margin %
- 7.19%
- ROE %
- 23.76%
- ROCE %
- 18.12%
- 4.49%
- Debtor Days
- 24
- Inventory Days
- 34
- Payable Days
- 481
- -422
- Debt to Equity (x)
- 3.31x
- Interest Coverage (x)
- 2.57x
- 0.66x
- Revenue Growth %
- 11.22%
- Operating Profit Growth %
- 28.77%
- Net Profit Growth %
- 27.84%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 1.60
- Book Value (₹)
- 12.67
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 2.42
- Operating Margin %
- 23.66%
- Net Margin %
- 8.27%
- ROE %
- 17.65%
- ROCE %
- 12.49%
- 4.19%
- Debtor Days
- 28
- Inventory Days
- 37
- Payable Days
- 484
- -418
- Debt to Equity (x)
- 1.75x
- Interest Coverage (x)
- 1.84x
- 0.74x
- Revenue Growth %
- 21.33%
- Operating Profit Growth %
- 13.32%
- Net Profit Growth %
- 38.26%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 1.01
- Book Value (₹)
- 13.68
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 2.09
- Operating Margin %
- 16.70%
- Net Margin %
- 3.08%
- ROE %
- 6.95%
- ROCE %
- 10.19%
- 1.89%
- Debtor Days
- 35
- Inventory Days
- 32
- Payable Days
- 232
- -165
- Debt to Equity (x)
- 1.89x
- Interest Coverage (x)
- 1.58x
- 0.82x
- Revenue Growth %
- 58.59%
- Operating Profit Growth %
- 8.65%
- Net Profit Growth %
- -42.75%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- 1.67
- Book Value (₹)
- 15.41
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.03
- Operating Margin %
- 20.08%
- Net Margin %
- 4.82%
- ROE %
- 10.76%
- ROCE %
- 11.87%
- 2.73%
- Debtor Days
- 47
- Inventory Days
- 42
- Payable Days
- 315
- -226
- Debt to Equity (x)
- 1.95x
- Interest Coverage (x)
- 1.86x
- 0.63x
- Revenue Growth %
- 7.54%
- Operating Profit Growth %
- 31.03%
- Net Profit Growth %
- 70.87%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 2.62
- Book Value (₹)
- 18.09
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 4.34
- Operating Margin %
- 20.69%
- Net Margin %
- 5.85%
- ROE %
- 15.12%
- ROCE %
- 14.11%
- 3.82%
- Debtor Days
- 45
- Inventory Days
- 35
- Payable Days
- 233
- -154
- Debt to Equity (x)
- 1.79x
- Interest Coverage (x)
- 2.31x
- 0.63x
- Revenue Growth %
- 31.92%
- Operating Profit Growth %
- 37.69%
- Net Profit Growth %
- 61.91%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 2.48
- Book Value (₹)
- 21.13
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 4.78
- Operating Margin %
- 18.05%
- Net Margin %
- 4.42%
- ROE %
- 12.03%
- ROCE %
- 12.09%
- 2.88%
- Debtor Days
- 48
- Inventory Days
- 28
- Payable Days
- 247
- -171
- Debt to Equity (x)
- 2.22x
- Interest Coverage (x)
- 2.26x
- 1.10x
- Revenue Growth %
- 20.89%
- Operating Profit Growth %
- 7.56%
- Net Profit Growth %
- -6.88%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 1.39
- Book Value (₹)
- 22.43
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 4.84
- Operating Margin %
- 13.19%
- Net Margin %
- 1.66%
- ROE %
- 4.84%
- ROCE %
- 6.01%
- 1.07%
- Debtor Days
- 43
- Inventory Days
- 26
- Payable Days
- 200
- -130
- Debt to Equity (x)
- 2.45x
- Interest Coverage (x)
- 1.40x
- 0.85x
- Revenue Growth %
- 25.02%
- Operating Profit Growth %
- -13.05%
- Net Profit Growth %
- -55.28%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 0.91
- Book Value (₹)
- 24.04
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.45
- Operating Margin %
- 14.12%
- Net Margin %
- 0.94%
- ROE %
- 2.71%
- ROCE %
- 8.23%
- 0.58%
- Debtor Days
- 41
- Inventory Days
- 26
- Payable Days
- 225
- -159
- Debt to Equity (x)
- 2.46x
- Interest Coverage (x)
- 1.52x
- 0.68x
- Revenue Growth %
- 3.28%
- Operating Profit Growth %
- 23.27%
- Net Profit Growth %
- -40.39%
- -34.27%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 6.38x
Mar 2025
- EPS (₹)
- -1.16
- Book Value (₹)
- 22.31
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 1.49
- Operating Margin %
- 10.97%
- Net Margin %
- -2.52%
- ROE %
- -7.16%
- ROCE %
- 4.83%
- -1.42%
- Debtor Days
- 44
- Inventory Days
- 25
- Payable Days
- 213
- -143
- Debt to Equity (x)
- 2.80x
- Interest Coverage (x)
- 0.90x
- 0.65x
- Revenue Growth %
- -3.57%
- Operating Profit Growth %
- -20.02%
- Net Profit Growth %
- -364.07%
- -227.03%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 8.62x
Mar 2026
- EPS (₹)
- -5.64
- Book Value (₹)
- 48.03
- Dividend per Share (₹)
- 0.50
- Cash EPS (₹)
- -3.55
- Operating Margin %
- 17.04%
- Net Margin %
- -10.97%
- ROE %
- -18.48%
- ROCE %
- -4.21%
- -6.08%
- Debtor Days
- 41
- Inventory Days
- 26
- Payable Days
- 203
- -137
- Debt to Equity (x)
- 0.63x
- Interest Coverage (x)
- -1.07x
- 0.72x
- Revenue Growth %
- 12.03%
- Operating Profit Growth %
- 70.81%
- Net Profit Growth %
- -387.77%
- -387.55%
- P/E (x)
- 0.00x
- P/B (x)
- 2.30x
- Dividend Yield %
- 0.45%
- 13.19x
Documents
Announcements
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-19 - Please find enclosed herewith Earnings Call Transcript for the Results Conference call held on 14th August, 2026.
- Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-08-19 - Please find attached intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Annual Reports
Credit Ratings
- Credit Rating- Revision
2026-07-14 - Pursuant to Regulation 30, read with schedule III of SEBI (LODR) Regulations, 2015. We wish to inform you the credit ratings by India Ratings and Research (Ind-Ra) of JSW Cement Limited.
- Credit Rating
2026-05-07 - JSW Cement Limited has informed the Exchange about Credit Rating
- Credit Rating
2025-10-30 - JSW Cement Limited has informed the Exchange about Credit Rating
Concalls
Aug 2026
May 2026
Feb 2026