India's JSW Cement posts quarterly profit surge on improved demand

JSW Cement

21/05/2026 08:19

May 21 (Reuters) - India's JSW Cement JSWC.NS reported a more than tenfold jump in fourth-quarter profit on Thursday, helped by improved demand.

The JSW Group firm posted consolidated net profit of 3.71 billion rupees ($38.5 million) for the quarter ended March 31 from 342.2 million rupees a year ago.

India's demand for cement accelerated 6%-7% year-on-year in January and February due to strong growth but moderated in March, according to analysts at HDFC Securities.

The Indian government's tax cut on cement bags to 18% from 28%, effective September, also helped.

Cement companies typically record higher volumes in the fourth quarter, driven by favourable construction weather and the need to meet fiscal year-end targets before the monsoon season begins.

The company's revenue from operations rose 10.9% to 18.95 billion rupees.

Raw material costs jumped 16%, while freight expenses rose 10.7% due to disruptions linked to the Middle East crisis.

Total expenses climbed 2.4% to 17.02 billion rupees.

The company reappointed Nilesh Narwekar as CEO and approved additional cement grinding capacity of 2.5 MTPA in Rajasthan state.

Shares rose as much as 9.3% after results before trimming some gains to trade 5% higher.

Larger peer UltraTech Cement ULTC.NS beat profit view and Ambuja Cements ABUJ.NS posted a nearly threefold profit jump on strong volumes.

($1 = 96.3300 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru; Editing by Janane Venkatraman)

 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))