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JSW Cement Limited's Board of Directors, at a meeting held on 13 August 2026, approved the company's unaudited financial results for the quarter ended 30 June 2026, reporting consolidated revenue from operations of INR 1,896.41 crore, up from INR 1,559.82 crore in the corresponding quarter last year. The company posted a consolidated profit of INR 153.43 crore for the quarter, against a loss of INR 1,366.41 crore in the year-ago period, which had been impacted by a large one-off exceptional charge linked to the conversion of compulsorily convertible preference shares. The Board also approved raising funds of up to INR 500 crore through the issuance of rated, listed non-convertible debentures on a private placement basis.
JSW Cement Limited's Board of Directors, at a meeting held on Thursday, approved the company's unaudited standalone and consolidated financial results for the quarter ended 30 June 2026, along with the limited review report issued by statutory auditors Deloitte Haskins & Sells LLP.
On a consolidated basis, the cement maker reported revenue from operations of INR 1,896.41 crore for the quarter, up from INR 1,559.82 crore in the corresponding quarter of the previous fiscal, marking growth of about 21.6 per cent year-on-year. Total income, including other income, stood at INR 1,970.19 crore, compared with INR 1,581.87 crore a year earlier. The company reported a consolidated profit of INR 153.43 crore for the quarter, against a loss of INR 1,366.41 crore in the same quarter last year.
The sharp swing from loss to profit was largely attributable to a one-off exceptional item recorded in the year-ago quarter, when the company recognised a charge of INR 1,466.38 crore linked to the conversion of 160 million compulsorily convertible preference shares into approximately 235.66 million equity shares, reflecting the valuation difference between the shares' conversion price and their carrying value. No comparable exceptional item was recorded in the quarter under review. Profit before exceptional items and tax for the current quarter stood at INR 190.16 crore, compared with INR 164.74 crore in the same quarter last year, reflecting underlying operational improvement of around 15 per cent.
On a standalone basis, the company reported revenue from operations of INR 1,737.89 crore, up from INR 1,445.22 crore a year earlier, with standalone profit for the quarter at INR 111.41 crore, against a loss of INR 1,332.34 crore in the corresponding quarter last year, again reflecting the absence of the prior year's exceptional CCPS-related charge.
During the quarter, the company recognised a gain of INR 55.21 crore under other income, classified in accordance with Ind AS 28, following the dilution of its stake in one of its joint ventures. The company also confirmed it had opted to adopt the new corporate tax regime under Section 115BAA of the Income-tax Act from financial year 2026-27 onwards, following amendments introduced under the Finance Act, 2026, relating to the treatment of brought-forward MAT credit.
The results also referenced an ongoing dispute concerning industrial incentives at the company's Salboni Cement Plant in West Bengal, where the company has contested the rejection of its final registration certificate under the West Bengal State Support for Industries Scheme, 2013, as well as the state government's subsequent enactment of a law retrospectively revoking incentive schemes sanctioned between 1993 and 2021. The company has filed a writ petition before the Calcutta High Court challenging the revocation and continues to carry an outstanding claim balance of INR 339.87 crore, against which it holds an expected credit loss provision of INR 49.18 crore as of 30 June 2026.
Separately, the Board approved raising funds of up to INR 500 crore through the issuance of rated and listed non-convertible debentures on a private placement basis, and authorised the company's Finance Committee to finalise all matters relating to the issuance, including the detailed terms of the offer.
The Board meeting commenced at 2:30 pm and concluded at 5:40 pm on 13 August 2026. The results and related disclosures have been made available on the websites of the BSE, NSE and the company.
Source: BSE
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