JSW Cement Ltd Q4 Results 2026 Preview: Date, Time, Expectations & Key Things To Watch

CompoundingAI Research Updated May 14, 2026 3 min read

JSW Cement is navigating a major capacity expansion phase as it pushes into North India, balancing growth with the challenge of maintaining margins amidst regional pricing volatility. Investors will be closely watching the impact of the newly commissioned Nagaur plant on volume growth and the company's progress toward its long-term EBITDA per tonne targets.

Quick Details

Results date	May 18, 2026
Quarter	Q4
Previous quarter revenue	Rs. 1,621.22 Cr
Previous quarter PAT	Rs. 130.6 Cr
Previous quarter EBITDA margin	17.6%
Net debt (latest quarter)	Rs. 3,557 Cr
Market cap	Rs. 16,660.34 Cr
CMP	Rs. 122.2

JSW Cement Ltd Q4 Results Date and Time

The board meeting is scheduled for May 18, 2026, to consider the audited financial results for FY26.

What to expect from JSW Cement Ltd's Q4 FY26 results

In its most recently reported quarter, JSW Cement posted revenue of Rs. 1,621.22 Cr, PAT of Rs. 130.6 Cr, and an EBITDA margin of 17.6%. The company is tracking toward its mid-teen percentage volume growth target for FY26, having already achieved 14% YoY growth in Q3. Management remains focused on its Rs. 7,300 Cr expansion program, which aims to reach 33.85 MTPA capacity by CY28, with the March 2026 commissioning of the 3.3 MTPA clinker plant in Nagaur serving as a key operational milestone. While pricing in South and East regions saw a 4% QoQ decline in Q3, management expects stable momentum in Q4 supported by government capex spending. The company is also working to capture the remaining Rs. 200/ton of its Rs. 400/ton cost reduction target through renewable energy adoption and lead distance optimization.

Key Things To Watch

Performance vs Guidance Tracking

EBITDA/ton — Rs. 1,150-1,200 target — Rs. 802 achieved in Q3
FY26 Volume Growth — Mid-teen % — +14% YoY achieved in Q3
Capex FY26 — Rs. 2,300 Cr — Rs. 1,455 Cr spent in 9M
Net Debt/EBITDA — 2-2.5x target — 2.9x as of Q3

Nagaur Commercial Launch

Status of Phase 1 commercial operations commissioned in March 2026
Impact of North region entry on product mix, specifically the shift toward OPC and PPC cement

Strategic Expansion & Capex

Timeline and funding progress for the 1.65 MTPA Fujairah grinding unit
Progress on the Rs. 7,300 Cr total expansion roadmap targeting 33.85 MTPA capacity by CY28

Risks and headwinds to monitor

Status of the appeal against the Rs. 13.78 crore GST penalty order
Progress on the RC-II application challenge for the Salboni plant involving a Rs. 339.87 crore claim
Management of pricing volatility and input cost inflation in the West and South regions

Frequently Asked Questions

When will JSW Cement announce Q4 FY 2025-2026 results?

JSW Cement will announce its results on May 18, 2026.

What was JSW Cement's revenue in its previous quarter?

In Q3 FY26, JSW Cement reported consolidated revenue of Rs. 1,621.22 Cr.

What is JSW Cement's net debt position?

As of December 31, 2025, JSW Cement reported a net debt of Rs. 3,557 Cr.

How does JSW Cement plan to address logistical constraints in the new North India market?

Management stated that the Nagaur plant will focus on OPC and PPC cement because moving slag from the south or west to the north is not logistically viable. The facility is positioned to serve the specific demands of the North Indian market.

Is JSW Cement on track with its previously stated EBITDA per tonne guidance?

The company is working toward its target of Rs. 1,150-1,200/ton for FY26, having achieved Rs. 802/ton in Q3. Management expects this target to become more achievable as North operations ramp up.