JSW Cement Q3 Results: Stock Soars 9% on Strong Profit Turnaround
JSW Cement's share price rallied impressively by over 9% on Thursday, February 5, following the announcement of robust financial results for the quarter ended December 2026 (Q3FY26). The company, part of the diversified JSW Group, demonstrated a remarkable financial recovery that captured significant investor attention.
Financial Performance Highlights
The cement manufacturer reported a sharp turnaround in its December quarter performance, posting a net profit of ₹130.6 crore. This represents a substantial improvement compared to the loss of ₹80.22 crore recorded in the corresponding quarter of the previous year, underscoring a significant recovery in profitability metrics.
Meanwhile, the company's revenue from operations grew 13% year-on-year (YoY) to ₹1,621 crore in Q3FY26, up from ₹1,433 crore in Q3FY25. This revenue improvement was primarily backed by a 14% rise in cement volumes, which increased to 3.56 million tonnes from 3.12 million tonnes a year earlier.
Operating Metrics and Expansion Strategy
Operating performance strengthened notably during the quarter, with EBITDA climbing 32% YoY to ₹285.1 crore. This resulted in an operating margin of 17.6%, reflecting improved operational efficiency and cost management.
As of December 31, 2025, the company's net debt stood at ₹3,557 crore. JSW Cement continued to advance its expansion strategy aimed at building a pan-India presence, with the company targeting 41.85 MTPA of grinding capacity and 13.04 MTPA of clinker capacity over the medium term.
International Expansion and Stock Performance
In a key strategic development, the board approved the formation of a wholly owned subsidiary in Fujairah, UAE, to establish a 1.65 MTPA cement grinding unit. The project, estimated to involve an investment of $39 million through a mix of debt and equity, marks the company's initial foray into overseas markets and represents a significant step in its global expansion plans.
The cement stock rose as much as 9.3% to its day's high of ₹127. It remains approximately 22% away from its 52-week high of ₹162.20, which was hit in September 2025. Meanwhile, it touched its 52-week low of ₹106.65 in December 2025. The recently listed scrip has lost 6.5% in the last three months and 4% in the past month.
JSW Cement debuted on the stock exchanges on August 14, 2025, opening at ₹153.50 on the NSE and ₹153 on the BSE. The listing translated into a premium of about 4.08% to 4.42% over its IPO price of ₹147 per share. The public issue had received an overall subscription of 8.22 times, while the stock's opening indicated a relatively subdued market debut compared to some other recent listings.
