5444802026-07-012026-09-305444802026-09-305444802026-03-315444802026-04-012026-09-305444802026-07-012026-09-30in-capmkt:OtherExpenses1Member5444802026-07-012026-09-30in-capmkt:OtherExpenses2Member5444802026-07-012026-09-30in-capmkt:OtherExpenses3Member5444802026-04-012026-09-30in-capmkt:OtherExpenses1Member5444802026-04-012026-09-30in-capmkt:OtherExpenses2Member5444802026-04-012026-09-30in-capmkt:OtherExpenses3Member5444802026-09-30OtherNoncurrentFinancialAssetsDomain15444802026-09-30OtherNoncurrentFinancialAssetsDomain25444802026-09-30OtherNoncurrentAssetsDomain15444802026-09-30OtherCurrentFinancialAssetsDomain15444802026-09-30OtherCurrentAssetsDomain15444802026-09-30OtherNoncurrentFinancialLiabilitiesDomain15444802026-09-30OtherNoncurrentFinancialLiabilitiesDomain25444802026-09-30OtherCurrentFinancialLiabilitiesDomain15444802026-09-30OtherCurrentFinancialLiabilitiesDomain25444802026-09-30OtherCurrentLiabilitiesDomain15444802026-07-012026-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15444802026-04-012026-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15444802026-07-012026-09-30ItemsThatWillBeReclassifiedToProfitAndLoss15444802026-04-012026-09-30ItemsThatWillBeReclassifiedToProfitAndLoss1iso4217:INRiso4217:INRxbrli:shares544480JSWCEMENTNOTLISTEDINE718I01012JSW CEMENT LIMITEDMain BoardEquity2026-04-012027-03-312026-10-272026-10-16INRCroresQuarterlySecond quarterSingle segmentCement and cement related products2026-10-2714:30:002026-10-2717:15:00trueCash Flow IndirectNot applicable2026-07-012026-09-30UnauditedConsolidated19121500000171500000192930000004469600000466500000-5885000001001900000114450000099780000010994200000184860000008070000000807000000189400000417000002311000000575900000000200400000776300000-171700000604600000853500000-77200000681300000-7670000013526700000100.630.63000.630.631. The unaudited consolidated financial results of JSW Cement 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. <br /> <br /> 2. The above unaudited consolidated financial results of the Company for the quarter and half year ended September 30, 2026 have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on October 27, 2026. The Statutory Auditors of the Company have carried out a limited review of the these results. <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. (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. <br /> (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 half year ended September 30, 2025 and year ended March 31, 2026 were disclosed as an Exceptional Item. <br /> (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. <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. 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 and September 30, 2026 of Rs. 339.87 crore. <br /> During the 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 on March 31, 2026 and September 30, 2026. <br /> <br /> 5. During the previous quarter ended June 30, 2026, 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. <br /> <br /> 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 year ended March 31, 2026. <br /> <br /> 7. The Board of Directors in their meeting on September 29, 2026, considered and approved the Draft Composite Scheme of Arrangement between JSW Cement Limited (JSWCL) and Shiva Cement Limited (Shiva), subsidiary company and their respective shareholders, under sections 230 to 232, read with sections 52 and 66 of the Companies Act, 2013 ("The Scheme"). The Scheme inter alia provides for capital reduction in the books of the Company and amalgamation of Shiva with JSWCL. The Scheme was submitted on October 22, 2026, to obtain a No Objection Certificate (NOC) from the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).2026-04-012026-09-30UnauditedConsolidated38085600000909300000389949000008906800000815500000-339900000197910000021180000001973200000209608000003641350000025814000000258140000039310000020530000059840000001983000000000327600000231060000012060000024312000002459900000-1493000002577500000-14630000013526700000101.831.82001.831.82Power and fuel expenses3833900000Freight and handling expense4281100000Other expenses2879200000Power and fuel expenses6886800000Freight and handling expense8433000000Other expenses5641000000739332000001055910000021694000001099980000025270000025715000001300900000144000000055105000008251400000163120000014591000000124959300000687210000008892400000159120000054120000070300000095320000012681000000582410000025377200000150336500000135267000005444330000067970000000-37180000067598200000323452000003227400000355726000001079600000538960000042041800000121167000003307100000120737000001538080000011598100000390956000001412100000306000001582000004069650000082738300000150336500000Income tax assets (net)489800000Other non-current financial assets5020700000Other non-current assets14591000000Other current financial assets953200000Other current assets5824100000Lease liabilities3182700000Other financial liabilities44700000Lease liabilites465000000Other current financial liabilities11133100000Other current liabilities14121000002118000000-854300000-3625000000272200000-1496000000-19710000074200000011196000000801000000197320000004400000-2090000024000000236000005300000226200000137000000000-584800000019343000004515700000000335400000041803000000000000008211900000000000000000000005300000157000000076900000-797270000000000055030000006815800000328800000023300000067560000021810000000-74400000914100000-28783000000-287830000044695000001591200000Items that will not be reclassified to profit or loss-225500000-225500000Items that will not be reclassified to profit or loss102500000102500000-3220000019300000Amount of items that will be reclassified to profit and loss2160000021600000Amount of items that will be reclassified to profit and loss403000004030000002900000-171700000120600000