JSW Cement shares rally 6% after Q3 profit rebounds to Rs 130 crore; revenue up 13%

JSW Cement shares jumped 6% to Rs 123.32 in Thursday’s trading after the company reported a Q3 FY26 profit of Rs 130.6 crore, rebounding from a loss of Rs 80.22 crore in the same quarter last year and signaling a strong performance recovery.

The company’s revenue from operations rose 13% year on year to Rs 1,621 crore in Q3 FY26 from Rs 1,433 crore in Q3 FY25. This growth was supported by a 14% year-on-year jump in total cement volumes, reaching 3.56 million tonnes compared with 3.12 million tonnes a year ago.

JSW Cement’s operating EBITDA surged 32% year on year to Rs 285.1 crore, translating to a healthy operating margin of 17.6%, reflecting improved operational efficiency and cost management.


The company’s net debt stood at Rs 3,557 crore as of December 31, 2025. Adding to investor confidence, CRISIL upgraded JSW Cement’s long-term credit rating from A+/Stable to AA-/Stable during the quarter.

JSW Cement capex and expansion

JSW Cement continues its ambitious expansion to establish a pan-India footprint, aiming for 41.85 MTPA of grinding capacity and 13.04 MTPA of clinker capacity. During Q3 FY26, the company also commissioned 8 MW of solar capacity and remains on track to scale up renewable power in the coming quarters. Capex spend for Q3 and 9M FY26 stood at Rs 491 crore and Rs 1,455 crore, respectively, including maintenance.

In a strategic move, the company’s board approved the incorporation of a wholly owned subsidiary in Fujairah, UAE, to set up a 1.65 MTPA cement grinding unit. The estimated capex for this project is USD 39 million, to be funded via a mix of debt and equity, marking JSW Cement’s first step into international markets.

On Wednesday, JSW Cement shares closed up 1.76% at Rs 116.14 on the NSE. From a technical perspective, the 14-day RSI stands at 47.4, indicating a neutral zone, neither overbought nor oversold.

With a combination of strong quarterly performance, a clear expansion roadmap, and forays into renewable energy and international markets, JSW Cement appears well positioned to remain in investor focus in the near term.

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