JSW Cement Reports Strong Q2 & H1 FY26 Performance, Commissions Sambalpur Unit, Details Expansion
JSW Cement reported strong Q2 & H1 FY26 results. A 1.0 MTPA Sambalpur grinding unit commissioned, Nagaur Integrated Unit expected early Q4 FY26, driving significant pan-India expansion and profitability growth.
The strong financial performance, particularly the significant increase in profitability and improved debt position, coupled with the commissioning of new capacity and ongoing expansion projects, suggests a high impact on the company's future growth trajectory and market position.
The company reported substantial year-on-year growth in Q2 and H1 FY26 across volumes, revenue, and operating EBITDA. PAT turned positive in Q2, and adjusted PAT for H1 showed significant improvement. Strategic capacity expansion and improved debt metrics further contribute to a positive outlook.
* JSW Cement Limited has released its Investor Presentation for Q2 & H1 FY26, highlighting robust financial and operational performance, alongside strategic expansion plans. * Financial Performance (Q2 FY26): * Total Volume Sold: 3.11 mn. MT, an increase of 14.9% year-on-year (YoY). * Revenue from Operations: ₹1,436.4 crore, up 17.4% YoY. * Operating EBITDA: ₹267.5 crore, a significant rise of 64.2% YoY, translating to an operating EBITDA per ton of ₹860. * Profit After Tax (PAT): ₹75.4 crore. * Net Debt: ₹3,231 crore as of September 30, 2025, with an improved Net Debt to TTM EBITDA ratio of 2.80x. * Financial Performance (H1 FY26): * Total Volume Sold: 6.42 mn. MT, an increase of 11.1% YoY. * Revenue from Operations: ₹2,996.3 crore, up 12.5% YoY. * Operating EBITDA: ₹590.2 crore, up 49.1% YoY. * Adjusted Profit After Tax: ₹175.3 crore. * Operational Highlights and Expansion: * The company commenced production at its new 1.0 MTPA grinding unit in Sambalpur, Odisha, in September 2025, increasing consolidated grinding capacity to 21.60 MTPA. * The Nagaur Integrated Unit (3.30 MTPA Clinker and 2.50 MTPA Cement Grinding) is on track for commissioning in early Q4 FY26. * Progress is being made on the 2.75 MTPA split grinding unit in Talwandi Sabo, Punjab, with regulatory approvals underway. * JSW Cement is pursuing a clear blueprint for pan-India presence, targeting 41.85 MTPA grinding capacity and 13.04 MTPA clinker capacity by CY 2028. * Sustainability and Recognitions: The Nandyal plant received the CII National Award 2025 for Excellence in Energy Management, and Shiva Cement was awarded the Gold Award for Highest TSR and highest utilization of Alternative Raw Materials in 2024-25. * CCPS Conversion: A non-cash fair value expense of ₹1,466.4 crore was recorded in Q1 FY26 due to the conversion of Compulsory Convertible Preference Shares (CCPS) into equity shares on July 24, 2025, prior to the IPO; no further such expense is expected.
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