JSW Cement Q4 FY26 Results: EBITDA Jumps 46%, Revenue Rises To ₹1,895 Crore

JSW Cement will be in focus after the company reported strong growth in the March quarter and for the full financial year FY26. Revenue from operations for the quarter stood at ₹1,895 crore, registering an 11% YoY increase from ₹1,709 crore in Q4 FY25. Operating EBITDA jumped 46% YoY to ₹365 crore, while operating EBITDA margin improved sharply to 19.3% from 14.6% a year ago.

At the close of the day on 21 May 2026, the JSW Cement’s share price was already up by 5.42% to reach ₹127.46 on the National Stock Exchange.

JSW Cement’s Performance In A Nutshell

For Q4 FY26, total volume sold increased 7% year-on-year (YoY) to 3.99 million tonnes compared to 3.73 million tonnes in the corresponding quarter last year. Cement sales volume rose 12% YoY to 2.35 million tonnes, while Ground Granulated Blast Furnace Slag (GGBS) volume increased 5% to 1.57 million tonnes.

Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) per tonne came in at ₹916 per tonne during the quarter, helped by operating leverage, lower raw material and power costs, and improved cement realisations. Adjusted for forex losses, operating EBITDA stood at ₹378.4 crore or ₹950 per tonne. Profit after tax for Q4 FY26 stood at ₹361.7 crore.

For the full financial year FY26, total volume sold increased 11% YoY to 13.96 million tonnes. Revenue from operations rose 12% to ₹6,512 crore, while operating EBITDA surged 44% to ₹1,240 crore. Operating EBITDA margin improved to 19% for FY26.

The company said cement realisations improved 4.8% sequentially during the quarter, while GGBS realisations remained stable. Net debt stood at ₹3,635 crore as of 31 March 2026, with a net debt-to-EBITDA ratio of 2.72x.

During the quarter, JSW Cement commenced production at its greenfield integrated cement plant at Nagaur, Rajasthan, with a clinker capacity of 3.3 Million Tonnes Per Annum (MTPA) and initial grinding capacity of 2.5 MTPA. The company was also declared the preferred bidder for two limestone blocks in Assam.

The board of directors has recommended a dividend of ₹0.50 per equity share with a face value of ₹10 each for FY26, subject to shareholder approval.

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Sources:

Company Press Release

Company Financial Result