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JSW Cement Profit Dips 1.2% in September Quarter on 33% Sales Rise

Moody's reports JSW Cement's September-quarter profit fell 1.2% to Rs 85.35 crore as revenue rose 33.1%, with energy and freight costs squeezing margins.

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what happened

According to Moody's, JSW Cement's consolidated revenue from operations in the September quarter of FY27 climbed 33.1% year on year to Rs 1,912.15 crore. Costs for energy, fuel and transport grew faster than sales, so profit ended slightly below the year-ago level.

Ebitda rose 3.7% to Rs 277 crore, yet its margin contracted from 18.6% to 14.5%. Profit attributable to shareholders eased 1.2% to Rs 85.35 crore, compared with Rs 86.43 crore a year earlier. Tax costs shrank sharply, to Rs 23.11 crore against Rs 45.89 crore.

Energy and fuel bills rose from Rs 225.76 crore to Rs 383.39 crore, while transport and handling outlays moved from Rs 328.36 crore to Rs 428.11 crore. Finance costs and depreciation also increased. The board approved two expansion projects costing about Rs 1,078 crore combined: a GGBS grinding system with 2 MTPA capacity at Vijayanagar in Karnataka (Rs 509 crore, commissioning by May 2028) and a 2 MTPA cement grinding mill at Dolvi in Maharashtra (Rs 569 crore, commissioning by October 2028). Both will be funded from internal accruals and debt, according to the exchange filing. The company also approved a guarantee of up to Rs 60 crore for a credit line its subsidiary JSW Green Cement Pvt. Ltd. holds with IndusInd Bank.

why it matters

For investors this is a mixed quarter: sales and volumes are growing quickly, but higher energy and logistics costs are squeezing margins, a point the cement sector watches closely. The new capacity due in 2028 signals longer-term growth, though part of its funding comes from debt.

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JSW Cement shares

sources

  1. JSW Cement Q2 Profit Slips 1.2% Despite 33% Revenue Growth — Moody's, 28 October 2026 at 03:27 UTC

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