JSW Cement share price
NSE: JSWCEMENTBSE: 544480Cement & Cement ProductsSmall Cap
JSW Cement Limited · Face value ₹10 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Aug 2025 · Issue price ₹147
Last close ₹115.81up ₹0.63 (0.55%)BSE ₹115.90
Share price at the NSE close on 29 Oct 2026. Previous close ₹115.18.
29 Oct: open ₹115.10, high ₹116.41, low ₹113.62
52-week range of traded prices to 29 Oct 2026
₹106.65Low, 4 Dec 2025₹143.40High, 21 Jul 2026
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹15,789 Cr387th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 20.79
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 2.32
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.43%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 11.8%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 7.7%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026.
- 0.66
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 12,98,41654.8% delivered
About JSW Cement
JSW Cement Limited is a Mumbai-based maker of cement and ground granulated blast furnace slag (GGBS), a cement substitute made from a by-product of steel making, and also sells ready-mix concrete and construction chemicals.12 It sells to individual home builders, contractors, infrastructure developers and institutional clients across southern, western, eastern and northern India, and in the UAE.31
Its cement brands include JSW Concreel HD, JSW Power Pro, JSW COMPCEM, JSW Max Super Cement, JSW CHD Jalkavach, JSW CHD Waterguard and JSW CHD Raksha, besides Portland Slag Cement and Ordinary Portland Cement, and its ready-mix concrete is sold as Green Crete.14 Its plants are in Andhra Pradesh, West Bengal, Odisha, Karnataka, Tamil Nadu, Maharashtra and Rajasthan, and it makes clinker, the kiln-fired base of cement, in the UAE through its joint venture JSW Cement FZC.56
JSW Cement was incorporated on 29 Mar 2006 and began operations in 2009 with a grinding unit at Vijayanagar, Karnataka.21 Its shares were listed on NSE and BSE on 14 Aug 2025.2
JSW Cement is part of the JSW Group, and its holding company is Adarsh Advisory Services Private Limited.67 It holds 66.23% of its listed subsidiary Shiva Cement, which runs a clinker plant at Sundargarh, Odisha.89
JSW Cement key points
Results
- In the quarter to Sep 2026, consolidated revenue rose 33.1% from a year earlier to ₹1,912.1 crore, operating EBITDA (earnings before interest, tax, depreciation and amortisation, excluding other income) rose 3.9% to ₹277.8 crore, and profit after tax was ₹77.6 crore.10
- In the year to Mar 2026, consolidated revenue rose 12.0% from ₹5,813.07 crore to ₹6,512.46 crore, and operating EBITDA rose 43.5% to ₹1,240.28 crore.11
- The year to Mar 2026 ended in a consolidated loss after tax of ₹799 crore, after a non-cash expense of ₹1,466.38 crore on converting compulsorily convertible preference shares into equity before listing; adjusted profit after tax, which adds that expense back, was ₹668 crore.1213
- Consolidated net debt (borrowings less cash) was ₹4,287 crore at the end of Sep 2026, against ₹3,231 crore a year earlier, or 3.26 times trailing twelve-month EBITDA.14
Market position
- JSW Cement says it is India's largest maker of GGBS, with about 84% of all-India GGBS sales in the year to Mar 2026.15
Sales volume and mix
- Sales volume and change from a year earlier, quarter to Sep 202616
Item quarter to Sep 2026 Total 3.93 million tonnes, up 26.1% Cement 2.29 million tonnes, up 39.5% GGBS 1.47 million tonnes, up 6.5% - Sales volume and change from a year earlier, year to Mar 202617Total sales of 13.96 million tonnes, up 10.6%, were JSW Cement's highest.
Item year to Mar 2026 Cement 7.73 million tonnes, up 9.0% GGBS 5.78 million tonnes, up 11.6% Clinker 0.45 million tonnes, up 25.0% - In the quarter to Sep 2026, JSW Cement's cement trade ratio (the share of cement sold through dealers to retail buyers) was 52%, and its blended cement ratio (the share of cement blended with slag or fly ash) was 62%.18
Plants and capacity
- Capacity by region, million tonnes a year (MTPA), in the presentation of 27 Oct 20261920
Item as of 27 Oct 2026 South 11.00 grinding, 2.81 clinker West 4.50 grinding; 2.31 clinker at the JSW FZC joint venture in Fujairah, UAE East 6.10 grinding, 1.32 clinker North 3.50 grinding, 3.30 clinker Total 25.10 grinding, 9.74 clinker - In the year to Mar 2026, JSW Cement's grinding units ran at 64% of capacity. It operates 6 limestone mines in India and 1 in Fujairah, UAE, and holds the right to operate or letters of intent for 7 more in India.1221
Expansion and capital spending
- In its presentation of 27 Oct 2026, JSW Cement said grinding capacity is planned to grow to about 43 MTPA; on its earnings call of 14 Aug 2026, it said it would finish that first and may then add the balance of 25 million tonnes.2223
- On its earnings call of 14 Aug 2026, JSW Cement said it plans capital spending of about ₹2,300 crore in the current financial year and ₹2,000 crore in the next, and about ₹7,500 crore to ₹7,600 crore to grow capacity from 24.1 million tonnes.24
- In its presentation of 27 Oct 2026, JSW Cement said a further 2.5 MTPA grinding unit at Nagaur was in detailed engineering and a 1.65 MTPA grinding unit at Fujairah, UAE, was under construction.2526
What the company expects
- On its earnings call of 14 Aug 2026, JSW Cement said it holds itself to high-teens growth on an overall company basis, including the North and GGBS, in the current financial year, without naming the measure, and expects GGBS growth in the high single digits.2728
- On its earnings call of 14 Aug 2026, JSW Cement said its board's internal guidance is to keep net debt below 3.0 times EBITDA.24
Recent events
- On 6 Oct 2026, JSW Cement commissioned an additional 1.00 MTPA cement grinding unit at its Nagaur plant in Rajasthan.29
- On 29 Sep 2026, the boards of JSW Cement and its listed subsidiary Shiva Cement approved merging Shiva Cement into JSW Cement at 5 JSW Cement shares for every 41 Shiva Cement shares, subject to approvals from the stock exchanges, SEBI, the NCLT and shareholders.30
- On 8 Sep 2026, India Ratings and Research assigned IND AA-/Stable to JSW Cement's proposed non-convertible debentures (bonds not convertible into shares) and affirmed IND AA-/Stable/IND A1+ on its bank loans.31
Litigation and regulatory matters
- A show cause notice (a demand to explain) from Central Tax, Belagavi, on 24 Sep 2026 proposes ₹229.85 crore of GST plus interest and a 10% penalty for April 2022 to March 2024, over alleged incorrect classification; JSW Cement said the impact is not material.3233
- As of its annual report of 9 Jul 2026, JSW Cement was challenging West Bengal's 2025 Revocation Act, which annulled state incentive grants from 1993 to 2021, and had booked a further ₹11.02 crore charge for delayed incentives.34
Last updated
All 34 sources, each with its page
- 1. Annual report, 9 Jul 2026, page 69
- 2. Annual report, 9 Jul 2026, page 172
- 3. Annual report, 9 Jul 2026, page 99
- 4. Annual report, 9 Jul 2026, page 12
- 5. Annual report, 9 Jul 2026, page 22
- 6. Exchange filing, 6 Oct 2026, page 3
- 7. Annual report, 9 Jul 2026, page 77
- 8. Exchange filing, 29 Sep 2026, page 4
- 9. Exchange filing, 29 Sep 2026, page 5
- 10. Investor presentation, 27 Oct 2026, page 17
- 11. Annual report, 9 Jul 2026, page 70
- 12. Annual report, 9 Jul 2026, page 28
- 13. Annual report, 9 Jul 2026, page 223
- 14. Investor presentation, 27 Oct 2026, page 26
- 15. Annual report, 9 Jul 2026, page 69
- 16. Investor presentation, 27 Oct 2026, page 17
- 17. Annual report, 9 Jul 2026, page 70
- 18. Investor presentation, 27 Oct 2026, page 18
- 19. Investor presentation, 27 Oct 2026, page 8
- 20. Investor presentation, 27 Oct 2026, page 8
- 21. Annual report, 9 Jul 2026, page 69
- 22. Investor presentation, 27 Oct 2026, page 4
- 23. Earnings call, 14 Aug 2026, page 10
- 24. Earnings call, 14 Aug 2026, page 9
- 25. Investor presentation, 27 Oct 2026, page 12
- 26. Investor presentation, 27 Oct 2026, page 13
- 27. Earnings call, 14 Aug 2026, page 8
- 28. Earnings call, 14 Aug 2026, page 6
- 29. Exchange filing, 6 Oct 2026, page 2
- 30. Exchange filing, 29 Sep 2026, page 2
- 31. Exchange filing, 8 Sep 2026, page 1
- 32. Exchange filing, 24 Sep 2026, page 1
- 33. Exchange filing, 24 Sep 2026, page 2
- 34. Annual report, 9 Jul 2026, page 71
Results
Consolidated; ₹ crore.JSW Cement quarterly results
Quarter to Sep 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹1,912 Crup 0.83%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹78 Crdown 49.40%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 4.1%
Revenue by quarter
Peak revenue ₹1,912 Cr, quarter to Sep 2026; lowest ₹1,436 Cr, quarter to Sep 2025
Net profit by quarter, a loss in red
- Net profit
- Loss
A loss in 1 of the 6 quarters shown
| ₹ crore | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|
| Revenue | 1,560 | 1,436 | 1,621 | 1,895 | 1,896 | 1,912 |
| Net profit | −1,366 | 75 | 131 | 362 | 153 | 78 |
| Net margin | −87.6% | 5.2% | 8.1% | 19.1% | 8.1% | 4.1% |
Consolidated. The 6 quarters from Jun 2025, the first on record. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Year to Mar 2026
- Revenue
- ₹6,512 Cr
- Net profit
- −₹799 Cr
- Net margin
- −12.3%
| ₹ crore | Mar 2026 |
|---|---|
| Revenue | 6,512 |
| Net profit | −799 |
| Net margin | −12.3% |
Consolidated. Years to March. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Business segments
In the year to Mar 2026 the company reports one business segment, Single segment, which carries all its revenue.
Valuation
Today, against the company's own history.JSW Cement PE ratio and valuation
Price to book
At or below today's level on 2% of 241 trading days since Nov 2025.
LowestHighest
Its median2.70Industry median1.41
Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price. When a year's dividend goes ex later than the year before's, the yield reads zero for the days between; a run of under 60 such trading days is left out of the yield's medians and percentiles. The ex-date is the day from which a buyer of the share no longer gets the dividend.
At or below today's level on 92% of 247 trading days over the last year.
LowestHighest
Its median0.00%Industry median0.65%
Mutual fund holdings
88 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 45 of the 56 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 88 funds holding JSW Cement
- AddedAdded. Funds that held more shares than at the end of the month before.
- 50
- CutCut. Funds that held fewer shares than at the end of the month before.
- 6
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 31
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 4
| Fund | |||
|---|---|---|---|
 Nippon India Small Cap FundNippon India Mutual Fund | 2,02,60,819 | 0.28% | ₹229.7 Cr |
 SBI Multicap FundSBI Mutual Fund | 2,00,00,000 | 0.97% | ₹226.8 Cr |
| SBI ELSS Tax Saver FundSBI Mutual Fund | 1,16,11,984 | 0.44% | ₹131.7 Cr |
 ICICI Prudential Small Cap FundICICI Prudential Mutual Fund | 92,39,125 | 1.07% | ₹104.8 Cr |
| ICICI Prudential Aggressive Hybrid FundICICI Prudential Mutual Fund | 92,18,755 | 0.21% | ₹104.5 Cr |
 Bandhan Small Cap FundBandhan Mutual Fund | 82,32,050 | 0.26% | ₹93.3 Cr |
| SBI ESG Exclusionary Strategy FundSBI Mutual Fund | 79,84,138 | 1.82% | ₹90.5 Cr |
| Nippon India Power & Infra FundNippon India Mutual Fund | 63,68,632 | 0.92% | ₹72.2 Cr |
| ICICI Prudential Manufacturing FundICICI Prudential Mutual Fund | 56,60,984 | 0.93% | ₹64.2 Cr |
 Edelweiss Small Cap FundEdelweiss Mutual Fund | 54,26,474 | 0.88% | ₹61.5 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Promoter and insider buying and selling
Trades made since 30 Oct 2025.JSW Cement insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Promoters and promoter group: no market trade · 3 pledge filings of unclear kind
- Others: no market trade · 2 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.
JSW Cement competitors and peers
Cement & Cement Products, 39 listed companies, priced on 29 Oct 2026. The table lists the 8 companies closest to JSW Cement in market cap. 1 company in its own group left out: one owns more than half of the other, directly or through a company it controls, or one owner more than half of both.Construction materials companies
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
 JK CementJKCEMENT | 37,807 | 39.46 | 5.15 | +17.3% | −7.4% | 13.9% | 11.5% | 0.41% |
 Dalmia BharatDALBHARAT | 26,407 | 53.89 | 1.47 | +6.1% | −56.4% | 2.7% | 5.0% | 0.36% |
 ACCACC | 21,661 | 24.55 | 1.05 | +4.6% | −73.6% | 4.3% | 5.1% | 0.65% |
 The Ramco CementsRAMCOCEM | 17,242 | 26.74 | 2.13 | +8.6% | +101.2% | 8.3% | 5.0% | 0.34% |
 Nuvoco Vistas CorporationNUVOCO | 11,861 | 28.59 | 1.24 | +10.6% | +52.0% | 4.4% | 6.6% | 0.00% |
 The India CementsINDIACEM | 9,305 | 75.96 | 0.91 | +5.2% | +851.1% | 1.2% | 2.0% | 0.00% |
 Star CementSTARCEMENT | 6,589 | 17.82 | 2.06 | +14.5% | +56.4% | 12.2% | 14.1% | 0.61% |
 Birla CorporationBIRLACORPN | 6,083 | 10.99 | 0.83 | +3.9% | +44.9% | 7.7% | 8.5% | 1.58% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Dividends
Per share, by the year it was paid for, and the latest payments.JSW Cement dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossaryHighest ₹0.50 a share, year to Mar 2026.
| Ex-date | Type | Per share |
|---|---|---|
| 10 Jul 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹0.50 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.JSW Cement announcements
Oct 2026
28 Oct · Rating
19 Oct · Analysts
JSW Cement share price by year
Each calendar year to 2025.JSW Cement share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 118.86 | – | 159.17 | 108.02 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2025 is from its first session, 14 Aug 2025.
Recent sessions
The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 28 Oct 2026 | 115.85 | 116.12 | 113.00 | 115.18 | 115.15 | 12,58,980 | 49.7% |
| 27 Oct 2026 | 118.00 | 118.80 | 115.47 | 116.61 | 116.78 | 13,36,963 | 51.6% |
| 26 Oct 2026 | 116.98 | 118.35 | 116.00 | 117.60 | 117.32 | 11,89,843 | 40.8% |
| 23 Oct 2026 | 114.69 | 118.84 | 112.45 | 116.98 | 116.44 | 64,08,104 | 45.9% |
| 22 Oct 2026 | 113.70 | 115.21 | 112.95 | 114.69 | 114.21 | 9,83,193 | 53.1% |
| 21 Oct 2026 | 115.60 | 116.20 | 112.70 | 114.75 | 114.48 | 9,31,494 | 43.7% |
| 19 Oct 2026 | 116.00 | 117.90 | 114.80 | 115.72 | 116.34 | 18,70,290 | 34.8% |
| 16 Oct 2026 | 113.40 | 115.49 | 112.42 | 114.71 | 114.48 | 12,46,132 | 53.5% |
| 15 Oct 2026 | 114.30 | 115.04 | 112.52 | 113.22 | 113.50 | 9,59,966 | 49.0% |
Prices in ₹ per share as traded, not adjusted.
Company details
- NSE symbol
- JSWCEMENT
- BSE code
- 544480
- ISIN
- INE718I01012
- Industry
- Cement & Cement Products
- Website
- www.jswcement.in
- CIN
- L26957MH2006PLC160839
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 2006
- Registered office
- JSW Centre, Bandra Kurla Complex, Bandra (East), Mumbai 400051, Maharashtra
- Share registrar
- KFin Technologies Ltd
- Keeps the register of shareholders and handles transfers and dividend payments
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