5444802025-07-012025-09-305444802025-09-305444802025-03-315444802025-04-012025-09-305444802025-07-012025-09-30in-capmkt:OtherExpenses1Member5444802025-07-012025-09-30in-capmkt:OtherExpenses2Member5444802025-07-012025-09-30in-capmkt:OtherExpenses3Member5444802025-04-012025-09-30in-capmkt:OtherExpenses1Member5444802025-04-012025-09-30in-capmkt:OtherExpenses2Member5444802025-04-012025-09-30in-capmkt:OtherExpenses3Member5444802025-07-012025-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15444802025-04-012025-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15444802025-07-012025-09-30ItemsThatWillBeReclassifiedToProfitAndLoss15444802025-04-012025-09-30ItemsThatWillBeReclassifiedToProfitAndLoss1iso4217:INRiso4217:INRxbrli:shares544480JSWCEMENTNOTLISTEDINE718I01012JSW CEMENT LIMITEDMain BoardEquity2025-04-012026-03-312025-11-072025-10-29INRCroresQuarterlySecond quarterSingle segmentCement and cement related products2025-11-0715:00:002025-11-0718:45:00trueCash Flow IndirectNot applicable2025-07-012025-09-30UnauditedConsolidated14364300000236300000146006000003191900000214700000-22160000084210000010028000007953000007662000000134872000001113400000011134000003000000042890000045890000006545000000009910000075360000043700000797300000864300000-110700000907500000-11020000013343300000100.710.7000.710.71. The unaudited consolidated financial results of the Group for the quarter and half year ended September 30, 2025 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting held on November 7, 2025. The Statutory auditors of the Company have carried out a limited review of these results. <BR> <BR> 2. The unaudited consolidated financial results of the Company and its subsidiaries together referred to as "the Group" for the quarter and half year ended September 30, 2025 have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards as prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. <BR> <BR> 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. <BR> <BR> 4. On 14 August 2025, the equity shares of the Company were listed on National Stock Exchange of India Limited (NSE) and BSE Limited (BSE). The comparative numbers for the quarter and half year ended September 30, 2024 were not subjected to a review by statutory auditors of the Company and the management has exercised necessary diligence in preparing the financial results of these periods. <BR> <BR> 5. JSW Cement Limited (JSWCL) 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. JSWCL 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. JSWCL contested this in the Calcutta High Court, presenting substantial evidence for commercial production. <BR> <BR> 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. JSWCL's current writ in relation to rejection of RC-II has been put on hold pending clarity on the new enactment. 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 High Court of West Bengal challenging the Act and revocation of the scheme and believes it has a good case to recover the outstanding claim balance as on September 30, 2025 of Rs. 339.87 crore. <BR> <BR> 6. Pursuant to the shareholders agreements (SHA) between the 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 in light of recent valuation done by the QIPO banker, and its carrying value as on March 31, 2025, being significant for quarter ended June 30, 2025 and half year ended September 30, 2025 has been disclosed as an Exceptional Item. <BR> <BR> 7. Pursuant to Agreement dated January 22, 2025, entered into between Shiva Cement Ltd (SCL) (“the Subsidiary of the Company”) and Bhushan Power and Steel Limited (“BPSL”), BPSL has agreed to establish and commence operations of a grinding unit at Sambalpur, Odisha, which is proposed to be transferred to SCL in accordance with the terms of the agreement subject to receipt of approvals from certain governmental authorities. JSW Steel Limited acquired BPSL through the insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 pursuant to approval of its resolution plan by the National Company Law Tribunal (“NCLT”) vide its order dated February 17, 2020. However, the Hon’ble Supreme Court of India pursuant to order dated May 2, 2025 had directed the NCLT to initiate liquidation proceedings against BPSL (“SC Judgement”). <BR> <BR> The Hon’ble Supreme Court, in its further order dated May 26, 2025 has directed that status quo be maintained in respect of proceedings initiated before NCLT for implementation of the judgement, pending the disposal of JSWSL's review petition. JSW Steel Limited filed a review petition in relation to the SC Judgement before the Hon’ble Supreme Court of India on June 25, 2025. Pursuant to the aforesaid review petition, Supreme Court vide order dated July 31, 2025 has recalled the Supreme Court Judgement dated May 02, 2025 and decided to conduct fresh hearings in this matter. A fresh hearing began on August 7, 2025, with the Supreme Court reserving its judgment on August 11, 2025. Post detailed fresh hearings of submissions made by the JSW Steel Limited, Committee of Creditors, Resolution Professional, Erstwhile Promoters and certain Operational Creditors, the Hon'ble Supreme Court pronounced judgement dated September 26, 2025 wherein all the appeals filed by the Erstwhile Promoters and certain Operational Creditors were dismissed and the judgment of the National Company Law Appellate Tribunal dated February 17, 2020 approving the JSW Steel Limited resolution plan for BPSL has been upheld.2025-04-012025-09-30UnauditedConsolidated299625000004568000003041930000068079000003576000001110000016547000002024400000157460000015229500000276598000002759500000-14663800000-1190430000078400000102820000011066000000-13010900000000100400000-1291050000020000000-12890500000-12697400000-213100000-12677800000-2127000001334330000010-11.49-11.4900-11.49-11.49Power and fuel expense2257600000Freight and handling expense3283600000Other expenses2120800000Power and fuel expense4381700000Freight and handling expense6918000000Other expenses392980000054833200000177204000000216940000011042400000157500000013820000001395900000004643000000603890000013420000001255910000010724490000062482000007950000007564300000657360000036258000002434600000822500000218158000000573940000033803400000141048300000133433000004718430000060527600000-14800000605128000003218510000000034034000003558850000099590000054941000004207850000096827000001352400000124874000001383980000013687100000372096000001213200000170000001720000038457000000805355000001410483000002024400000-19634000002342000000-1387000005600000-146500000277500000011328000000-165800000015746000000230000010400000-5980000000261700000530000030110000071400000146638000000-234000000346000000169511000005046800000000-3500000005081800000000000002700000963990000000000000000003027000008264000000053000005459000000-3039900000-1160220000000158714000000001551000000823740000093488000003649000000210670000000124435000005923100000059231000006505000006573600000Items that will not be reclassified to profit or loss2360000023600000Items that will not be reclassified to profit or loss-19300000-193000003400000-3100000Items that will be reclassified to profit or loss1850000018500000Items that will be reclassified to profit or loss3580000035800000-5000000-4000004370000020000000