JSW Cement Reappoints Parth Jindal as MD, Pankaj Kulkarni as Independent Director; Expands to UAE
JSW Cement reported Q3 FY26 results with standalone revenue at ₹1,478.67 crore and consolidated revenue at ₹1,621.22 crore. The company re-appointed Parth Jindal as MD (effective June 20, 2026) and Pankaj Kulkarni as Independent Director (effective April 1, 2026). A new cement grinding unit will be set up in Fujairah, UAE, with a ₹305 crore ($39 million) capex.
The re-appointment of MD and Independent Director are significant governance events. The expansion into the UAE represents a major strategic move, impacting future revenue and operations. The financial results, despite exceptional items, provide crucial performance data.
The re-appointment of key management personnel and the strategic expansion into the UAE indicate positive future growth prospects for the company. The financial results, while having exceptional items, show profitability for the quarter.
JSW Cement Limited has announced significant board decisions following its meeting on February 4, 2026. The company has approved the unaudited standalone and consolidated financial results for the quarter ended December 31, 2025.
Key personnel changes include the re-appointment of Mr. Parth Jindal as Managing Director, effective June 20, 2026, and Mr. Pankaj Kulkarni as an Independent Director for a second term of five years, effective April 1, 2026. Both re-appointments are subject to shareholder approval.
Strategically, JSW Cement plans to incorporate a wholly-owned subsidiary in Fujairah, UAE, which will establish a cement grinding unit with a capacity of 1.65 million tonnes per annum (MTPA). This expansion involves a capital expenditure of approximately USD 39 million, to be funded through a mix of debt and equity. The company will also provide a corporate guarantee of up to USD 29.25 million for a foreign currency term loan to this subsidiary.
The company also reported its financial results for the quarter ended December 31, 2025. Standalone revenue from operations was ₹1,478.67 crore, with a profit after tax of ₹149.46 crore. Consolidated revenue from operations stood at ₹1,621.22 crore, with a profit after tax of ₹130.62 crore.
Exceptional items for the quarter included a ₹31.26 crore expense related to the implementation of new Labour Codes and a ₹1,466.38 crore valuation difference on the conversion of Compulsorily Convertible Preference Shares (CCPS) in the consolidated results. The company also noted a legal challenge regarding incentive schemes in West Bengal, with a potential claim balance of ₹339.87 crore as of December 31, 2025.
The Board meeting commenced at 2:00 p.m. and concluded at 5:56 p.m. on February 4, 2026.
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