Integrated Filing — IndAS



General information about company

Scrip Code 544480
NSE Symbol JSWCEMENT
MSEI Symbol NOTLISTED
ISIN INE718I01012
Name of company JSW CEMENT LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2026
Date of end of financial year 31-03-2027
Date of board meeting when results were approved 13-08-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 10-08-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter First quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended
Segment Reporting Single segment
Description of single segment Single segment
Start date and time of board meeting 13-08-2026   14:30:00
End date and time of board meeting 13-08-2026   17:40:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2026 01-04-2026
B Date of end of reporting period 30-06-2026 30-06-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 1,89,641.00 1,89,641.00
Other income 7,378.00 7,378.00
Total income 1,97,019.00 1,97,019.00
2 Expenses
(a) Cost of materials consumed 44,372.00 44,372.00
(b) Purchases of stock-in-trade 3,490.00 3,490.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 2,486.00 2,486.00
(d) Employee benefit expense 9,772.00 9,772.00
(e) Finance costs 9,735.00 9,735.00
(f) Depreciation, depletion and amortisation expense 9,754.00 9,754.00
(f) Other Expenses
1 Power and fuel expense 30,529.00 30,529.00
2 Freight and handling expense 41,519.00 41,519.00
3 Other expenses 27,618.00 27,618.00
Total other expenses 99,666.00 99,666.00
Total expenses 1,79,275.00 1,79,275.00
3 Total profit before exceptional items and tax 17,744.00 17,744.00
4 Exceptional items 0.00 0.00
5 Total profit before tax 17,744.00 17,744.00
6 Tax expense
7 Current tax 2,037.00 2,037.00
8 Deferred tax 1,636.00 1,636.00
9 Total tax expenses 3,673.00 3,673.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 14,071.00 14,071.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 1,272.00 1,272.00
16 Total profit (loss) for period 15,343.00 15,343.00
17 Other comprehensive income net of taxes 2,923.00 2,923.00
18 Total Comprehensive Income for the period 18,266.00 18,266.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 16,064.00 16,064.00
Total profit or loss, attributable to non-controlling interests (721.00) (721.00)
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 18,962.00 18,962.00
Total comprehensive income for the period attributable to owners of parent non-controlling interests (696.00) (696.00)
21 Details of equity share capital
Paid-up equity share capital 1,35,035.00 1,35,035.00
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 1.2 1.2
Diluted earnings (loss) per share from continuing operations 1.19 1.19
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 1.2 1.2
Diluted earnings (loss) per share from continuing and discontinued operations 1.19 1.19
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1. The unaudited consolidated financial results of JSW Cements Limited (Parent Company/Company), its subsidiaries (the Parent Company and its subsidiaries together referred to as the Group) and its joint ventures and associate have been prepared in accordance with the Indian Accounting Standards (Ind AS) as prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. 2. The above unaudited consolidated financial results of the Company for the quarter ended June 30, 2026 have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on August 13, 2026. The Statutory Auditors of the Company have carried out a limited review of the these results. 3. The Group operates in a single segment of providing cement and cement related products and hence no separate segment disclosure is required under Ind AS 108 - Operating Segments. 4(a). The Government of India has notified the Code on Social Security, 2020 (“Social Security Code”); the Occupational Safety, Health and working conditions Code 2020; the Industrial Relations Code 2020 and the Code on Wage, 2019 (collectively, the Labour Codes”) on November 21, 2025. Pursuant to such notification, FAQ's and clarifications issued by the Ministry of Labour, professional advice obtained and a detailed examination of the final wage structure and the various provisions of the new Labour Codes, the Company, based on actuarial valuation, reassessed the estimated liability for past service cost as at March 31, 2026 at Rs. 27.08 crores. Accordingly, an excess provision recognised in earlier quarters of Rs. 6.58 crores had been reversed during the quarter ended March 31, 2026 under “Exceptional items”. 4(b). Pursuant to the shareholders agreements (SHA) between the Holding company and the investors of Compulsory convertible preference shares (CCPS), 160,000,000 number of CCPS have been converted into 235,662,477 number of equity shares of face value of Rs. 10 each at a premium of Rs. 132.75�per share and the resultant valuation difference of Rs. 1,466.38�crore between the said conversion value, determined as per internal rate of return thresholds prescribed in SHA basis valuation done by the QIPO banker, and its carrying value as on March 31, 2025, being significant for the quarter ended 30th June 2025 and year ended ended March 31, 2026 were disclosed as an Exceptional Item. 4(c). The Company applied for Industrial Promotional Assistance under the West Bengal State Support for Industries Scheme, 2013 (WBSSIS 2013) for its Salboni Cement Plant. While it received the preliminary Registration Certificate (RC-I), the final Registration Certificate (RC-II) was initially rejected by the District Industries Centre (DIC) for not applying within the specified timeline. The Company challenged this decision in the Calcutta High Court, which quashed the DIC's order and directed reconsideration within two weeks. Subsequently, the DIC again rejected the RC-II application on the aforementioned grounds. The Company's writ filed before the Calcutta High Court, presenting substantial evidence for commercial production, has been put on hold pending clarity on the following new enactment. In April 2025, the West Bengal government enacted the Revocation of West Bengal Incentive Schemes and Obligations in the Nature of Grants and Incentives Act, 2025 (Revocation Act), which retrospectively annuls all grants sanctioned under various state incentive schemes from 1993 to 2021. Based on the Company’s assessment coupled with the advice / opinion obtained from independent external legal counsel, the Company filed a writ petition in the Calcutta High Court challenging the Act and revocation of the scheme and believes it has a good case to recover the outstanding claim balance as on March 31, 2026 of Rs. 339.87 crore. During the previous quarter and year ended March 31, 2026, considering the uncertainty about timing of the recovery of incentive amount in view of the aforesaid developments / enactment, the Company on a conservative basis has reassessed and recognized additional provision amounting to Rs. 11.02 crores determined on the basis of Expected Credit Loss methodology as per Ind AS 109 Financial Instruments. The same has been disclosed under Exceptional item in the financial results. The Company carries provision for expected credit loss of Rs. 49.18 crore as on June 30, 2026. 5. During the quarter, pursuant to the dilution of the Company’s stake in one of its Joint Venture, the Company has recognised a gain of Rs.55.21 crore, classified under Other Income, in accordance with Ind AS 28 – Investments in Associates and Joint Ventures. 6. Pursuant to the amendments introduced under the Finance Act, 2026, inter alia enabling prescribed treatment of brought-forward MAT credit to the companies under tax regime as per Section 115BAA of the Income-tax Act, 1961 (New tax regime), the Company basis its assessment has decided to exercise the option to adopt the New tax regime from financial year 2026–27 onwards. In view of the same, the resultant reduction in net deferred tax liabilities, consequent to the reduced tax rate in the New tax regime, of Rs. 211.21 crore has been recognised in the previous quarter and year ended March 31, 2026. 7. The figures for the quarter ended March 31, 2026 is the balancing figure between the audited figure in respect of the full financial year and the published year to date figures up to the third quarter for the financial year which were subjected to limited review by the statutory auditors.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2026 01-04-2026
Date of end of reporting period 30-06-2026 30-06-2026
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2026 01-04-2026
B Date of end of reporting period 30-06-2026 30-06-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Items that will not be reclassed to profit n loss 3,280.00 3,280.00
Total Amount of items that will not be reclassified to profit and loss 3,280.00
2 Income tax relating to items that will not be reclassified to profit or loss 515.00 515.00
3 Amount of items that will be reclassified to profit and loss
1 Items that will be reclassified to profit and loss 187.00 187.00
Total Amount of items that will be reclassified to profit and loss 187.00
4 Income tax relating to items that will be reclassified to profit or loss 29.00 29.00
5 Total Other comprehensive income 2,923.00 2,923.00