JSW Cement Q1 FY27: Volume-led growth meets cost pressure as North ramps up

Revenue from operations was ₹1,896.4 crore, operating EBITDA was ₹298.6 crore (₹784 per tonne), and profit after tax was ₹153.4 crore.

Total volume sold was 3.81 million tonnes, up 15.0% year on year. Cement volumes were 2.34 million tonnes (up 26.5% year on year) and GGBS volumes were 1.33 million tonnes (up 2.6% year on year).

The presentation reports 24.10 million tonnes per annum of grinding capacity across 8 units and 9.74 million tonnes per annum of clinker capacity across 4 units.

The approved expansion plan targets total grinding capacity of 43.3 million tonnes per annum and clinker capacity of 13.0 million tonnes per annum, with additional future potential projects indicated beyond the approved plan.

The presentation states JSW Cement is the number one GGBS producer in India with 84% all-India GGBS market share in FY26, and GGBS accounted for 41% of total volume sold in FY26.

Net debt was ₹3,856 crore, and net debt to trailing twelve month EBITDA was reported at 2.95x.

The company added 56 MW of wind capacity during the quarter, taking total renewable power capacity to 112 MW, and it shows a FY27 target of 224 MW of green power capacity.