JSW Cement Ltd.
•₹ 126.040.73%
2026-08-21
PROS
- Latest quarter profit grew 108.4% YoY, showing strong momentum
- Institutional investors have been accumulating - FII+DII up 6.0pp
- Company generates healthy free cash flow
- Company maintains a comfortable, low leverage position
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 -0.5% over last 3 years
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -7.75x)
- Company has a low return on capital employed of 4.9%
- 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 | 11551.00 | 39.86 | 340383.91 | 2.08 | 2603.72 | 17.24 | 24648.20 | 15.85 | 13.25 | 20.35 |
| 2. | AMBUJACEM | 414.90 | 23.56 | 103095.07 | 0.48 | 660.00 | -31.93 | 9500.00 | -7.67 | 6.24 | 16.78 |
| 3. | SHREECEM | 24178.45 | 53.52 | 87237.66 | 0.62 | 531.12 | -17.48 | 6233.13 | 18.03 | 10.61 | 20.41 |
| 4. | JKCEMENT | 5254.90 | 42.94 | 40603.69 | 0.38 | 274.62 | -15.31 | 4031.72 | 20.26 | 14.89 | 16.07 |
| 5. | DALBHARAT | 1878.05 | 37.76 | 35225.82 | 0.48 | 192.00 | -51.39 | 3890.00 | 6.99 | 8.15 | 20.69 |
| 6. | ACC | 1307.70 | 12.87 | 24556.94 | 0.57 | 147.00 | -60.84 | 5808.00 | -4.59 | 11.60 | 7.90 |
| 7. | RAMCOCEM | 898.05 | 32.91 | 21220.24 | 0.28 | 31.24 | -63.06 | 2273.05 | 9.60 | 10.75 | 13.49 |
| 8. | JSWCEMENT | 126.10 | 22.61 | 17192.03 | 0.40 | 153.43 | 111.23 | 1896.41 | 21.58 | -4.21 | 16.41 |
| 9. | NUVOCO | 321.85 | 29.78 | 11495.07 | 0.00 | 159.63 | 19.88 | 3128.71 | 8.91 | 7.11 | 18.16 |
| 10. | INDIACEM | 370.65 | 124.19 | 11486.34 | 0.00 | 26.85 | 120.20 | 1019.42 | -0.52 | 0.30 | 15.28 |
| 11. | STARCEMENT | 194.65 | 21.28 | 7867.37 | 0.51 | 73.91 | -24.71 | 942.89 | 3.39 | 8.42 | 20.63 |
| 12. | JKLAKSHMI | 558.85 | 18.76 | 6937.81 | 1.16 | 108.07 | -27.90 | 1904.78 | 9.41 | 12.36 | 13.63 |
Detailed Comparison with:
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| 1,378 | 1,169 | 1,361 | 1,598 | 1,445 | 1,322 | 1,479 | 1,749 | 1,738 | |
| 1,184 | 1,042 | 1,200 | 1,354 | 1,125 | 1,065 | 1,203 | 1,409 | 1,632 | |
| Operating Profit | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — |
| Other Income | 41 | 40 | 42 | 40 | 42 | 44 | 106 | 41 | 41 |
| Interest | 95 | 94 | 97 | 98 | 87 | 84 | 68 | 69 | 80 |
| Depreciation | 62 | 64 | 69 | 68 | 67 | 68 | 69 | 72 | 85 |
| 78 | 10 | 36 | 118 | -1,257 | 149 | 213 | 236 | 147 | |
| Tax % | 50.66% | 133.20% | 107.46% | 41.20% | -5.98% | 35.52% | 29.97% | -64.21% | 24.34% |
| Net Profit | 38 | -3 | -3 | 69 | -1,332 | 96 | 149 | 388 | 111 |
| 0 | -0 | -0 | 1 | -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
- 1,378
- 1,184
- Operating Profit
- —
- OPM %
- —
- Other Income
- 41
- Interest
- 95
- Depreciation
- 62
- 78
- Tax %
- 50.66%
- Net Profit
- 38
- 0
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 1,169
- 1,042
- Operating Profit
- —
- OPM %
- —
- Other Income
- 40
- Interest
- 94
- Depreciation
- 64
- 10
- Tax %
- 133.20%
- Net Profit
- -3
- -0
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 1,361
- 1,200
- Operating Profit
- —
- OPM %
- —
- Other Income
- 42
- Interest
- 97
- Depreciation
- 69
- 36
- Tax %
- 107.46%
- Net Profit
- -3
- -0
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 1,598
- 1,354
- Operating Profit
- —
- OPM %
- —
- Other Income
- 40
- Interest
- 98
- Depreciation
- 68
- 118
- Tax %
- 41.20%
- Net Profit
- 69
- 1
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 1,445
- 1,125
- Operating Profit
- —
- OPM %
- —
- Other Income
- 42
- Interest
- 87
- Depreciation
- 67
- -1,257
- Tax %
- -5.98%
- Net Profit
- -1,332
- -14
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 986
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 1,322
- 1,065
- Operating Profit
- —
- OPM %
- —
- Other Income
- 44
- Interest
- 84
- Depreciation
- 68
- 149
- Tax %
- 35.52%
- Net Profit
- 96
- 1
- Equity Capital
- 1,334
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 1,334
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 1,479
- 1,203
- Operating Profit
- —
- OPM %
- —
- Other Income
- 106
- Interest
- 68
- Depreciation
- 69
- 213
- Tax %
- 29.97%
- Net Profit
- 149
- 1
- Equity Capital
- 1,339
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 1,339
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 1,749
- 1,409
- Operating Profit
- —
- OPM %
- —
- Other Income
- 41
- Interest
- 69
- Depreciation
- 72
- 236
- Tax %
- -64.21%
- Net Profit
- 388
- 3
- Equity Capital
- 1,341
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 1,341
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 1,738
- 1,632
- Operating Profit
- —
- OPM %
- —
- Other Income
- 41
- Interest
- 80
- Depreciation
- 85
- 147
- Tax %
- 24.34%
- Net Profit
- 111
- 0
- Equity Capital
- 1,350
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 1,350
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,415 | 1,596 | 2,647 | 2,761 | 3,417 | 4,099 | 4,771 | 5,795 | 5,505 | 5,995 | 6,288 | |
| 1,108 | 1,259 | 2,196 | 2,170 | 2,630 | 3,373 | 4,106 | 4,906 | 4,780 | 4,802 | 5,308 | |
| Operating Profit | 398 | 370 | 517 | 646 | 863 | 951 | 795 | 1,046 | 890 | 1,427 | — |
| OPM % | 28 | 23 | 20 | 23 | 25 | 23 | 17 | 18 | 16 | 24 | — |
| Other Income | 92 | 33 | 66 | 55 | 76 | 225 | 130 | 157 | 164 | 233 | 232 |
| Interest | 134 | 191 | 236 | 265 | 278 | 283 | 261 | 379 | 384 | 307 | 301 |
| Depreciation | 54 | 73 | 107 | 135 | 154 | 170 | 232 | 242 | 263 | 276 | 294 |
| 210 | 106 | 174 | 246 | 396 | 499 | 301 | 424 | 242 | -659 | 746 | |
| Tax % | 46 | 15 | 32 | 34 | 35 | 35 | 17 | 48 | 58 | -6 | 0 |
| Net Profit | 114 | 91 | 118 | 162 | 258 | 324 | 250 | 221 | 102 | -699 | 745 |
| EPS | 3 | 1 | 1 | 2 | 3 | 3 | 2 | 2 | 1 | -5 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -10 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 3 | 1 | 1 | 2 | 3 | 3 | 3 | 2 | 1 | -5 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 3 | 1 | 1 | 2 | 3 | 3 | 3 | 2 | 1 | -5 | — |
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
- 3
- 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
- 1,596
- 1,259
- Operating Profit
- 370
- OPM %
- 23
- Other Income
- 33
- Interest
- 191
- Depreciation
- 73
- 106
- Tax %
- 15
- Net Profit
- 91
- EPS
- 1
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2019
- 2,647
- 2,196
- Operating Profit
- 517
- OPM %
- 20
- Other Income
- 66
- Interest
- 236
- Depreciation
- 107
- 174
- Tax %
- 32
- Net Profit
- 118
- EPS
- 1
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2020
- 2,761
- 2,170
- Operating Profit
- 646
- OPM %
- 23
- Other Income
- 55
- Interest
- 265
- Depreciation
- 135
- 246
- Tax %
- 34
- Net Profit
- 162
- 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 2021
- 3,417
- 2,630
- Operating Profit
- 863
- OPM %
- 25
- Other Income
- 76
- Interest
- 278
- Depreciation
- 154
- 396
- Tax %
- 35
- Net Profit
- 258
- EPS
- 3
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
Mar 2022
- 4,099
- 3,373
- Operating Profit
- 951
- OPM %
- 23
- Other Income
- 225
- Interest
- 283
- Depreciation
- 170
- 499
- Tax %
- 35
- Net Profit
- 324
- EPS
- 3
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
Mar 2023
- 4,771
- 4,106
- Operating Profit
- 795
- OPM %
- 17
- Other Income
- 130
- Interest
- 261
- Depreciation
- 232
- 301
- Tax %
- 17
- Net Profit
- 250
- 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 2024
- 5,795
- 4,906
- Operating Profit
- 1,046
- OPM %
- 18
- Other Income
- 157
- Interest
- 379
- Depreciation
- 242
- 424
- Tax %
- 48
- Net Profit
- 221
- 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 2025
- 5,505
- 4,780
- Operating Profit
- 890
- OPM %
- 16
- Other Income
- 164
- Interest
- 384
- Depreciation
- 263
- 242
- Tax %
- 58
- Net Profit
- 102
- EPS
- 1
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2026
- 5,995
- 4,802
- Operating Profit
- 1,427
- OPM %
- 24
- Other Income
- 233
- Interest
- 307
- Depreciation
- 276
- -659
- Tax %
- -6
- Net Profit
- -699
- EPS
- -5
- Dividend Payout %
- -10
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -5
TTM
- 6,288
- 5,308
- Operating Profit
- —
- OPM %
- —
- Other Income
- 232
- Interest
- 301
- Depreciation
- 294
- 746
- Tax %
- 0
- Net Profit
- 745
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 17%
- 5 Years:
- 12%
- 3 Years:
- 8%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- -18%
RETURN ON EQUITY
- 10 Years:
- 10%
- 5 Years:
- 5%
- 3 Years:
- -1%
- Last Year:
- -14%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 |
| 92 | 185 | 304 | 455 | 721 | 1,081 | 1,318 | 1,607 | 1,719 | 5,652 | |
| 295 | 432 | 426 | 665 | 1,019 | 523 | 770 | 546 | 277 | 159 | |
| Trade Payables | 341 | 499 | 672 | 784 | 728 | 749 | 1,018 | 1,140 | 1,136 | 1,273 |
| 1,937 | 2,205 | 2,582 | 2,722 | 2,592 | 4,406 | 5,456 | 6,549 | 7,502 | 5,638 | |
| Total Liabilities | 3,115 | 4,307 | 4,969 | 5,612 | 6,046 | 7,745 | 9,550 | 10,828 | 11,620 | 14,063 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 1,510 | 2,277 | 2,706 | 2,930 | 3,206 | 3,292 | 4,344 | 4,984 | 5,484 | 7,100 | |
| Capital Work in Progress | 645 | 437 | 309 | 453 | 235 | 421 | 755 | 633 | 925 | 934 |
| 164 | 204 | 218 | 666 | 840 | 1,005 | 988 | 1,092 | 1,104 | 1,014 | |
| 158 | 212 | 254 | 403 | 259 | 327 | 406 | 429 | 356 | 508 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 771 | 771 | 791 | |
| Cash & Bank | 121 | 292 | 23 | 74 | 71 | 457 | 50 | 290 | 114 | 496 |
| 517 | 886 | 1,459 | 1,086 | 1,434 | 2,243 | 3,006 | 2,630 | 2,866 | 3,220 | |
| Total Assets | 3,115 | 4,307 | 4,969 | 5,612 | 6,046 | 7,745 | 9,550 | 10,828 | 11,620 | 14,063 |
| Total Debt | 1,781 | 2,186 | 2,535 | 2,672 | 2,708 | 3,816 | 4,806 | 5,171 | 5,460 | 3,269 |
| Net Working Capital | -337 | -358 | -62 | -440 | -738 | 452 | -340 | -807 | -1,176 | -652 |
| Contingent Liabilities | 35 | 69 | 77 | 73 | 77 | 55 | 54 | 71 | 78 | 117 |
| Book Value per Share | 12.03 | 11.88 | 13.08 | 14.61 | 17.31 | 20.96 | 23.36 | 26.29 | 27.42 | 52.14 |
| 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 | 2,535 | 2,672 | 2,708 | 3,816 | 4,806 | 5,171 | 5,460 | 3,269 |
| Net Working Capital | -337 | -358 | -62 | -440 | -738 | 452 | -340 | -807 | -1,176 | -652 |
| Contingent Liabilities | 35 | 69 | 77 | 73 | 77 | 55 | 54 | 71 | 78 | 117 |
| Book Value per Share | 12.03 | 11.88 | 13.08 | 14.61 | 17.31 | 20.96 | 23.36 | 26.29 | 27.42 | 52.14 |
| 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
- 92
- 295
- Trade Payables
- 341
- 1,937
- Total Liabilities
- 3,115
- 1,510
- Capital Work in Progress
- 645
- 164
- 158
- 0
- Cash & Bank
- 121
- 517
- Total Assets
- 3,115
- Total Debt
- 1,781
- Net Working Capital
- -337
- Contingent Liabilities
- 35
- Book Value per Share
- 12.03
- Face Value
- 10.00
- Total Debt
- 1,781
- Net Working Capital
- -337
- Contingent Liabilities
- 35
- Book Value per Share
- 12.03
- Face Value
- 10.00
Mar 2018
- Equity Capital
- 986
- 185
- 432
- Trade Payables
- 499
- 2,205
- Total Liabilities
- 4,307
- 2,277
- Capital Work in Progress
- 437
- 204
- 212
- 0
- Cash & Bank
- 292
- 886
- Total Assets
- 4,307
- Total Debt
- 2,186
- Net Working Capital
- -358
- Contingent Liabilities
- 69
- Book Value per Share
- 11.88
- Face Value
- 10.00
- Total Debt
- 2,186
- Net Working Capital
- -358
- Contingent Liabilities
- 69
- Book Value per Share
- 11.88
- Face Value
- 10.00
Mar 2019
- Equity Capital
- 986
- 304
- 426
- Trade Payables
- 672
- 2,582
- Total Liabilities
- 4,969
- 2,706
- Capital Work in Progress
- 309
- 218
- 254
- 0
- Cash & Bank
- 23
- 1,459
- Total Assets
- 4,969
- Total Debt
- 2,535
- Net Working Capital
- -62
- Contingent Liabilities
- 77
- Book Value per Share
- 13.08
- Face Value
- 10.00
- Total Debt
- 2,535
- Net Working Capital
- -62
- Contingent Liabilities
- 77
- Book Value per Share
- 13.08
- Face Value
- 10.00
Mar 2020
- Equity Capital
- 986
- 455
- 665
- Trade Payables
- 784
- 2,722
- Total Liabilities
- 5,612
- 2,930
- Capital Work in Progress
- 453
- 666
- 403
- 0
- Cash & Bank
- 74
- 1,086
- Total Assets
- 5,612
- Total Debt
- 2,672
- Net Working Capital
- -440
- Contingent Liabilities
- 73
- Book Value per Share
- 14.61
- Face Value
- 10.00
- Total Debt
- 2,672
- Net Working Capital
- -440
- Contingent Liabilities
- 73
- Book Value per Share
- 14.61
- Face Value
- 10.00
Mar 2021
- Equity Capital
- 986
- 721
- 1,019
- Trade Payables
- 728
- 2,592
- Total Liabilities
- 6,046
- 3,206
- Capital Work in Progress
- 235
- 840
- 259
- 0
- Cash & Bank
- 71
- 1,434
- Total Assets
- 6,046
- Total Debt
- 2,708
- Net Working Capital
- -738
- Contingent Liabilities
- 77
- Book Value per Share
- 17.31
- Face Value
- 10.00
- Total Debt
- 2,708
- Net Working Capital
- -738
- Contingent Liabilities
- 77
- Book Value per Share
- 17.31
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 986
- 1,081
- 523
- Trade Payables
- 749
- 4,406
- Total Liabilities
- 7,745
- 3,292
- Capital Work in Progress
- 421
- 1,005
- 327
- 0
- Cash & Bank
- 457
- 2,243
- Total Assets
- 7,745
- Total Debt
- 3,816
- Net Working Capital
- 452
- Contingent Liabilities
- 55
- Book Value per Share
- 20.96
- Face Value
- 10.00
- Total Debt
- 3,816
- Net Working Capital
- 452
- Contingent Liabilities
- 55
- Book Value per Share
- 20.96
- Face Value
- 10.00
Mar 2023
- Equity Capital
- 986
- 1,318
- 770
- Trade Payables
- 1,018
- 5,456
- Total Liabilities
- 9,550
- 4,344
- Capital Work in Progress
- 755
- 988
- 406
- 0
- Cash & Bank
- 50
- 3,006
- Total Assets
- 9,550
- Total Debt
- 4,806
- Net Working Capital
- -340
- Contingent Liabilities
- 54
- Book Value per Share
- 23.36
- Face Value
- 10.00
- Total Debt
- 4,806
- Net Working Capital
- -340
- Contingent Liabilities
- 54
- Book Value per Share
- 23.36
- Face Value
- 10.00
Mar 2024
- Equity Capital
- 986
- 1,607
- 546
- Trade Payables
- 1,140
- 6,549
- Total Liabilities
- 10,828
- 4,984
- Capital Work in Progress
- 633
- 1,092
- 429
- 771
- Cash & Bank
- 290
- 2,630
- Total Assets
- 10,828
- Total Debt
- 5,171
- Net Working Capital
- -807
- Contingent Liabilities
- 71
- Book Value per Share
- 26.29
- Face Value
- 10.00
- Total Debt
- 5,171
- Net Working Capital
- -807
- Contingent Liabilities
- 71
- Book Value per Share
- 26.29
- Face Value
- 10.00
Mar 2025
- Equity Capital
- 986
- 1,719
- 277
- Trade Payables
- 1,136
- 7,502
- Total Liabilities
- 11,620
- 5,484
- Capital Work in Progress
- 925
- 1,104
- 356
- 771
- Cash & Bank
- 114
- 2,866
- Total Assets
- 11,620
- Total Debt
- 5,460
- Net Working Capital
- -1,176
- Contingent Liabilities
- 78
- Book Value per Share
- 27.42
- Face Value
- 10.00
- Total Debt
- 5,460
- Net Working Capital
- -1,176
- Contingent Liabilities
- 78
- Book Value per Share
- 27.42
- Face Value
- 10.00
Mar 2026
- Equity Capital
- 1,341
- 5,652
- 159
- Trade Payables
- 1,273
- 5,638
- Total Liabilities
- 14,063
- 7,100
- Capital Work in Progress
- 934
- 1,014
- 508
- 791
- Cash & Bank
- 496
- 3,220
- Total Assets
- 14,063
- Total Debt
- 3,269
- Net Working Capital
- -652
- Contingent Liabilities
- 117
- Book Value per Share
- 52.14
- Face Value
- 10.00
- Total Debt
- 3,269
- Net Working Capital
- -652
- Contingent Liabilities
- 117
- Book Value per Share
- 52.14
- Face Value
- 10.00
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 238 | 328 | 350 | 842 | 743 | 271 | 785 | 1,089 | 785 | 1,037 | |
| Cash from Investing | -734 | -903 | -730 | -662 | -468 | -1,142 | -1,456 | -844 | -538 | -1,476 |
| Cash from Financing | 599 | 745 | 111 | -130 | -286 | 944 | 584 | -199 | -285 | 826 |
| 103 | 170 | -268 | 51 | -11 | 74 | -87 | 46 | -38 | 387 | |
| Free Cash Flow | -179 | -304 | -56 | 339 | 533 | -164 | -829 | 342 | -263 | -854 |
| OCF / Net Profit | 2.09 | 3.62 | 2.96 | 5.21 | 2.88 | 0.84 | 3.14 | 4.93 | 7.71 | -1.48 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 334 | 348 | -177 | 221 | -381 | -1,768 |
| OCF / Net Profit | 2.09 | 3.62 | 2.96 | 5.21 | 2.88 | 0.84 | 3.14 | 4.93 | 7.71 | -1.48 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 334 | 348 | -177 | 221 | -381 | -1,768 |
Mar 2017
- 238
- Cash from Investing
- -734
- Cash from Financing
- 599
- 103
- Free Cash Flow
- -179
- OCF / Net Profit
- 2.09
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.09
- Cumulative 5-Year FCF
- 0
Mar 2018
- 328
- Cash from Investing
- -903
- Cash from Financing
- 745
- 170
- Free Cash Flow
- -304
- OCF / Net Profit
- 3.62
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 3.62
- Cumulative 5-Year FCF
- 0
Mar 2019
- 350
- Cash from Investing
- -730
- Cash from Financing
- 111
- -268
- Free Cash Flow
- -56
- OCF / Net Profit
- 2.96
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.96
- Cumulative 5-Year FCF
- 0
Mar 2020
- 842
- Cash from Investing
- -662
- Cash from Financing
- -130
- 51
- Free Cash Flow
- 339
- OCF / Net Profit
- 5.21
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 5.21
- Cumulative 5-Year FCF
- 0
Mar 2021
- 743
- Cash from Investing
- -468
- Cash from Financing
- -286
- -11
- Free Cash Flow
- 533
- OCF / Net Profit
- 2.88
- Cumulative 5-Year FCF
- 334
- OCF / Net Profit
- 2.88
- Cumulative 5-Year FCF
- 334
Mar 2022
- 271
- Cash from Investing
- -1,142
- Cash from Financing
- 944
- 74
- Free Cash Flow
- -164
- OCF / Net Profit
- 0.84
- Cumulative 5-Year FCF
- 348
- OCF / Net Profit
- 0.84
- Cumulative 5-Year FCF
- 348
Mar 2023
- 785
- Cash from Investing
- -1,456
- Cash from Financing
- 584
- -87
- Free Cash Flow
- -829
- OCF / Net Profit
- 3.14
- Cumulative 5-Year FCF
- -177
- OCF / Net Profit
- 3.14
- Cumulative 5-Year FCF
- -177
Mar 2024
- 1,089
- Cash from Investing
- -844
- Cash from Financing
- -199
- 46
- Free Cash Flow
- 342
- OCF / Net Profit
- 4.93
- Cumulative 5-Year FCF
- 221
- OCF / Net Profit
- 4.93
- Cumulative 5-Year FCF
- 221
Mar 2025
- 785
- Cash from Investing
- -538
- Cash from Financing
- -285
- -38
- Free Cash Flow
- -263
- OCF / Net Profit
- 7.71
- Cumulative 5-Year FCF
- -381
- OCF / Net Profit
- 7.71
- Cumulative 5-Year FCF
- -381
Mar 2026
- 1,037
- Cash from Investing
- -1,476
- Cash from Financing
- 826
- 387
- Free Cash Flow
- -854
- OCF / Net Profit
- -1.48
- Cumulative 5-Year FCF
- -1,768
- OCF / Net Profit
- -1.48
- Cumulative 5-Year FCF
- -1,768
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 0.92 | 1.20 | 1.64 | 2.61 | 3.29 | 2.53 | 2.24 | 1.03 | -5.21 |
| Book Value (₹) | 12.03 | 11.88 | 13.08 | 14.61 | 17.31 | 20.96 | 23.36 | 26.29 | 27.42 | 52.14 |
| 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 | 1.66 | 2.29 | 3.01 | 4.18 | 5.01 | 4.89 | 4.70 | 3.70 | -3.15 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 25.10% | 20.73% | 18.06% | 21.32% | 22.55% | 20.26% | 15.29% | 13.94% | 11.71% | 17.71% |
| Net Margin % | 7.19% | 5.08% | 4.14% | 5.33% | 6.74% | 6.91% | 4.80% | 3.47% | 1.64% | -10.36% |
| ROE % | 23.67% | 10.58% | 9.62% | 11.84% | 16.38% | 17.19% | 11.43% | 9.02% | 3.85% | -14.41% |
| ROCE % | 18.11% | 10.44% | 11.39% | 12.87% | 15.71% | 15.05% | 8.58% | 10.67% | 7.75% | -3.76% |
| 4.49% | 2.44% | 2.55% | 3.06% | 4.42% | 4.70% | 2.89% | 2.17% | 0.91% | -5.44% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 24 | 30 | 36 | 48 | 45 | 49 | 50 | 42 | 45 | 42 |
| Inventory Days | 34 | 38 | 30 | 40 | 32 | 23 | 26 | 24 | 23 | 23 |
| Payable Days | 480 | 484 | 231 | 327 | 242 | 209 | 220 | 192 | 190 | 183 |
| -422 | -416 | -166 | -239 | -166 | -138 | -144 | -125 | -122 | -117 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 3.29x | 1.87x | 1.96x | 1.85x | 1.59x | 1.85x | 2.09x | 1.99x | 2.02x | 0.47x |
| Interest Coverage (x) | 2.57x | 1.56x | 1.74x | 1.93x | 2.43x | 2.76x | 2.15x | 2.12x | 1.63x | -1.14x |
| 0.66x | 0.73x | 0.96x | 0.76x | 0.67x | 1.24x | 0.87x | 0.78x | 0.66x | 0.81x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 11.22% | 12.79% | 65.90% | 4.30% | 23.74% | 19.97% | 16.38% | 21.47% | -4.99% | 8.90% |
| Operating Profit Growth % | 28.78% | -7.04% | 39.57% | 25.13% | 33.54% | 10.22% | -16.42% | 31.49% | -14.89% | 60.38% |
| Net Profit Growth % | 27.87% | -20.53% | 30.62% | 36.54% | 59.41% | 25.81% | -23.01% | -11.54% | -53.87% | -785.58% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -11.49% | -53.87% | -604.17% | |
| 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 | 2.11x |
| 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 | 5.61x | 7.12x | 12.30x |
Mar 2017
- EPS (₹)
- 2.53
- Book Value (₹)
- 12.03
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.72
- Operating Margin %
- 25.10%
- Net Margin %
- 7.19%
- ROE %
- 23.67%
- ROCE %
- 18.11%
- 4.49%
- Debtor Days
- 24
- Inventory Days
- 34
- Payable Days
- 480
- -422
- Debt to Equity (x)
- 3.29x
- Interest Coverage (x)
- 2.57x
- 0.66x
- Revenue Growth %
- 11.22%
- Operating Profit Growth %
- 28.78%
- Net Profit Growth %
- 27.87%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 0.92
- Book Value (₹)
- 11.88
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 1.66
- Operating Margin %
- 20.73%
- Net Margin %
- 5.08%
- ROE %
- 10.58%
- ROCE %
- 10.44%
- 2.44%
- Debtor Days
- 30
- Inventory Days
- 38
- Payable Days
- 484
- -416
- Debt to Equity (x)
- 1.87x
- Interest Coverage (x)
- 1.56x
- 0.73x
- Revenue Growth %
- 12.79%
- Operating Profit Growth %
- -7.04%
- Net Profit Growth %
- -20.53%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 1.20
- Book Value (₹)
- 13.08
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 2.29
- Operating Margin %
- 18.06%
- Net Margin %
- 4.14%
- ROE %
- 9.62%
- ROCE %
- 11.39%
- 2.55%
- Debtor Days
- 36
- Inventory Days
- 30
- Payable Days
- 231
- -166
- Debt to Equity (x)
- 1.96x
- Interest Coverage (x)
- 1.74x
- 0.96x
- Revenue Growth %
- 65.90%
- Operating Profit Growth %
- 39.57%
- Net Profit Growth %
- 30.62%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- 1.64
- Book Value (₹)
- 14.61
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.01
- Operating Margin %
- 21.32%
- Net Margin %
- 5.33%
- ROE %
- 11.84%
- ROCE %
- 12.87%
- 3.06%
- Debtor Days
- 48
- Inventory Days
- 40
- Payable Days
- 327
- -239
- Debt to Equity (x)
- 1.85x
- Interest Coverage (x)
- 1.93x
- 0.76x
- Revenue Growth %
- 4.30%
- Operating Profit Growth %
- 25.13%
- Net Profit Growth %
- 36.54%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 2.61
- Book Value (₹)
- 17.31
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 4.18
- Operating Margin %
- 22.55%
- Net Margin %
- 6.74%
- ROE %
- 16.38%
- ROCE %
- 15.71%
- 4.42%
- Debtor Days
- 45
- Inventory Days
- 32
- Payable Days
- 242
- -166
- Debt to Equity (x)
- 1.59x
- Interest Coverage (x)
- 2.43x
- 0.67x
- Revenue Growth %
- 23.74%
- Operating Profit Growth %
- 33.54%
- Net Profit Growth %
- 59.41%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 3.29
- Book Value (₹)
- 20.96
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 5.01
- Operating Margin %
- 20.26%
- Net Margin %
- 6.91%
- ROE %
- 17.19%
- ROCE %
- 15.05%
- 4.70%
- Debtor Days
- 49
- Inventory Days
- 23
- Payable Days
- 209
- -138
- Debt to Equity (x)
- 1.85x
- Interest Coverage (x)
- 2.76x
- 1.24x
- Revenue Growth %
- 19.97%
- Operating Profit Growth %
- 10.22%
- Net Profit Growth %
- 25.81%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 2.53
- Book Value (₹)
- 23.36
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 4.89
- Operating Margin %
- 15.29%
- Net Margin %
- 4.80%
- ROE %
- 11.43%
- ROCE %
- 8.58%
- 2.89%
- Debtor Days
- 50
- Inventory Days
- 26
- Payable Days
- 220
- -144
- Debt to Equity (x)
- 2.09x
- Interest Coverage (x)
- 2.15x
- 0.87x
- Revenue Growth %
- 16.38%
- Operating Profit Growth %
- -16.42%
- Net Profit Growth %
- -23.01%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 2.24
- Book Value (₹)
- 26.29
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 4.70
- Operating Margin %
- 13.94%
- Net Margin %
- 3.47%
- ROE %
- 9.02%
- ROCE %
- 10.67%
- 2.17%
- Debtor Days
- 42
- Inventory Days
- 24
- Payable Days
- 192
- -125
- Debt to Equity (x)
- 1.99x
- Interest Coverage (x)
- 2.12x
- 0.78x
- Revenue Growth %
- 21.47%
- Operating Profit Growth %
- 31.49%
- Net Profit Growth %
- -11.54%
- -11.49%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 5.61x
Mar 2025
- EPS (₹)
- 1.03
- Book Value (₹)
- 27.42
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.70
- Operating Margin %
- 11.71%
- Net Margin %
- 1.64%
- ROE %
- 3.85%
- ROCE %
- 7.75%
- 0.91%
- Debtor Days
- 45
- Inventory Days
- 23
- Payable Days
- 190
- -122
- Debt to Equity (x)
- 2.02x
- Interest Coverage (x)
- 1.63x
- 0.66x
- Revenue Growth %
- -4.99%
- Operating Profit Growth %
- -14.89%
- Net Profit Growth %
- -53.87%
- -53.87%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 7.12x
Mar 2026
- EPS (₹)
- -5.21
- Book Value (₹)
- 52.14
- Dividend per Share (₹)
- 0.50
- Cash EPS (₹)
- -3.15
- Operating Margin %
- 17.71%
- Net Margin %
- -10.36%
- ROE %
- -14.41%
- ROCE %
- -3.76%
- -5.44%
- Debtor Days
- 42
- Inventory Days
- 23
- Payable Days
- 183
- -117
- Debt to Equity (x)
- 0.47x
- Interest Coverage (x)
- -1.14x
- 0.81x
- Revenue Growth %
- 8.90%
- Operating Profit Growth %
- 60.38%
- Net Profit Growth %
- -785.58%
- -604.17%
- P/E (x)
- 0.00x
- P/B (x)
- 2.11x
- Dividend Yield %
- 0.45%
- 12.30x
Documents
Announcements
- Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-08-21 - Please find attached disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- 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.
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