{"id":179653,"date":"2026-02-05T07:44:14","date_gmt":"2026-02-05T12:44:14","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=179653"},"modified":"2026-02-05T07:44:16","modified_gmt":"2026-02-05T12:44:16","slug":"jsw-cement-q3-fy26-earnings-results","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/jsw-cement-q3-fy26-earnings-results\/","title":{"rendered":"JSW Cement Q3 FY26 Earnings Results"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>Executive Summary<\/strong><\/h2>\n\n\n\n<p>JSW Cement Ltd reported Q3FY26 revenues of \u20b91,621 crore, up 13.12% YoY, swinging from a \u20b980 crore loss to \u20b9131 crore profit driven by 14% volume growth to 3.56 MT and 31.5% EBITDA surge to \u20b9285 crore. Expense reduction and operational leverage marked strong green cement execution.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Revenue &amp; Growth<\/strong><\/h2>\n\n\n\n<p>Revenues grew to \u20b91,621 crore from \u20b91,433 crore YoY, fueled by cement volumes up 6.8% to 1.89 MT and GGBS up 17% to 1.53 MT totaling 3.56 MT sales. Total expenses fell 0.66% YoY to \u20b91,504 crore despite higher blended fuel costs, showcasing cost discipline.<\/p>\n\n\n\n<p><strong>Profitability &amp; Margins<\/strong><br>Consolidated net profit achieved \u20b9130.6 crore versus \u20b980.2 crore loss YoY, with EBITDA at \u20b9285.1 crore (17.6% margins, up from prior trough). Basic EPS turned positive at \u20b91.04 from negative \u20b90.68; PBT before \u20b933.7 crore Labour Code exceptional loss reached \u20b9218 crore.<\/p>\n\n\n\n<p><strong>Balance-Sheet Highlights<\/strong><br>Net debt stood at \u20b93,557 crore with Net Debt\/EBITDA at 2.90x, reflecting improved leverage post-profitability inflection. Vadraj Energy Gujarat Ltd sale completed for \u20b9192 crore cash inflow.<\/p>\n\n\n\n<p><strong>Cash Flow \/ Liquidity<\/strong><br>Q3 capex at \u20b9491 crore supports capacity expansion; 9M EBITDA conversion demonstrates operational cash generation amid growth investments.<\/p>\n\n\n\n<p><strong>Key Ratios \/ Metrics<\/strong><br>EBITDA\/tonne reached \u20b9802 reflecting pricing power; 9M revenue up 14.1% to \u20b94,617 crore. CRISIL rating upgraded to AA-\/Stable with UAE grinding unit (USD 39M capex) and 41.85 MTPA target by 2028.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"839\" height=\"1024\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/JSWC-839x1024.png\" alt=\"\" class=\"wp-image-179655\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/JSWC-839x1024.png 839w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/JSWC-246x300.png 246w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/JSWC-768x937.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/JSWC-1259x1536.png 1259w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/JSWC.png 1489w\" sizes=\"auto, (max-width: 839px) 100vw, 839px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Executive Summary JSW Cement Ltd reported Q3FY26 revenues of \u20b91,621 crore, up 13.12% YoY, swinging from a \u20b980 crore loss to \u20b9131 crore profit driven by 14% volume growth to 3.56 MT and 31.5% EBITDA surge to \u20b9285 crore. Expense reduction and operational leverage marked strong green cement execution. Revenue &amp; Growth Revenues grew to [&hellip;]<\/p>\n","protected":false},"author":1932,"featured_media":179655,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[105,392],"tags":[9713],"class_list":["post-179653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infographics","category-earnings","tag-cement"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/JSWC.png","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":178320,"url":"https:\/\/alphastreet.com\/india\/acc-cement-q3-fy26-earnings-results\/","url_meta":{"origin":179653,"position":0},"title":"ACC Cement Q3 FY26 Earnings Results","author":"Divyansh_Kasana","date":"January 29, 2026","format":false,"excerpt":"Executive Summary ACC Ltd reported Q3FY26 revenues of \u20b96,483 crore, up 8.56% YoY, but consolidated net profit plunged 63.0% to \u20b9404 crore from \u20b91,092 crore. Total expenses surged 18.88% YoY to \u20b96,115 crore, significantly outpacing revenue growth and crushing profitability. Revenue & Growth Revenues increased to \u20b96,483.00 crore in Q3FY26\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/ACC.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/ACC.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/ACC.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/ACC.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/ACC.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/ACC.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":171605,"url":"https:\/\/alphastreet.com\/india\/jsw-steel-q2-fy26-earnings-results\/","url_meta":{"origin":179653,"position":1},"title":"JSW Steel Q2 FY26 Earnings Results","author":"Divyansh_Kasana","date":"October 17, 2025","format":false,"excerpt":"Company Overview JSW Steel Ltd is a leading Indian steel manufacturer engaged in the production and sale of Iron and Steel products. It is the flagship business of the diversified US$ 23 billion JSW Group, with interests spanning energy, infrastructure, cement, paints, sports, and venture capital. Presenting below its Q2\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"JSWSTEEL Q2 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/JSSTEEL.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/JSSTEEL.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/JSSTEEL.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/JSSTEEL.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/JSSTEEL.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/JSSTEEL.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":178988,"url":"https:\/\/alphastreet.com\/india\/birla-corporation-q3-fy26-earnings-results\/","url_meta":{"origin":179653,"position":2},"title":"Birla Corporation Q3 FY26 Earnings Results","author":"Divyansh_Kasana","date":"February 2, 2026","format":false,"excerpt":"Executive Summary Birla Corporation Ltd reported Q3FY26 revenues of \u20b92,159 crore, down 4.34% YoY, but consolidated net profit surged 70.97% to \u20b953 crore through 7.49% expense cuts and cost optimization. Cement demand recovered in December led by B2B sales, boosting margins despite seasonal weakness. Revenue & Growth Revenues declined to\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/BIRLA.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/BIRLA.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/BIRLA.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/BIRLA.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/BIRLA.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/BIRLA.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":171526,"url":"https:\/\/alphastreet.com\/india\/nuvoco-vista-q2-fy26-earnings-results\/","url_meta":{"origin":179653,"position":3},"title":"Nuvoco Vista Q2 FY26 Earnings Results","author":"Chirag Gupta","date":"October 15, 2025","format":false,"excerpt":"Nuvoco Vista Corporation Ltd (NVCL), is one of the largest cement companies and concrete manufacturers in India with a consolidated capacity of 25 MMTPA. It offers a diversified range of products such as cement, Ready-mix Concrete (RMX), and modern building materials i.e. adhesives, wall putty, dry plaster, cover blocks, and\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Nuvoco Vistas Q2 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Nuvoco-Vistas-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Nuvoco-Vistas-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Nuvoco-Vistas-Q2-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Nuvoco-Vistas-Q2-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Nuvoco-Vistas-Q2-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Nuvoco-Vistas-Q2-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":177888,"url":"https:\/\/alphastreet.com\/india\/india-cements-q3-fy26-earnings-results\/","url_meta":{"origin":179653,"position":4},"title":"India Cements Q3 FY26 Earnings Results","author":"Divyansh_Kasana","date":"January 27, 2026","format":false,"excerpt":"Executive Summary India Cements Ltd reported Q3FY26 revenues of \u20b91,114.26 crore, up 18.56% YoY, but swung to consolidated net loss of \u20b92.67 crore from \u20b9118.63 crore profit. Total expenses fell 9.89% YoY to \u20b91,134.03 crore amid revenue expansion. Revenue & Growth Revenues increased to \u20b91,114.26 crore in Q3FY26 from \u20b9939.84\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/IND-1.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/IND-1.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/IND-1.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/IND-1.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/IND-1.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/IND-1.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":171620,"url":"https:\/\/alphastreet.com\/india\/ultratech-cement-q2-fy26-earnings-results\/","url_meta":{"origin":179653,"position":5},"title":"UltraTech Cement Q2 FY26 Earnings Results","author":"Chirag Gupta","date":"October 20, 2025","format":false,"excerpt":"UltraTech Cement is engaged in the manufacturing and sale of Cement and Cement related product primarily across globe. Presenting below are its Q2 FY26 earnings results. \u00a0 Q2 FY26 Earnings Results Revenue from Operations:\u00a0\u20b919,606.9 crore, up\u00a020.3% YoY\u00a0from \u20b916,294.4 crore in Q2 FY25 and nearly flat sequentially compared to \u20b921,275 crore\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Ultratech Cement Q2 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Ultratech-Cement-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Ultratech-Cement-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Ultratech-Cement-Q2-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Ultratech-Cement-Q2-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Ultratech-Cement-Q2-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Ultratech-Cement-Q2-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/179653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1932"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=179653"}],"version-history":[{"count":1,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/179653\/revisions"}],"predecessor-version":[{"id":179656,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/179653\/revisions\/179656"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/179655"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=179653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=179653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=179653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}