On a consolidated basis, its revenue rose 17.4% year-on-year to Rs 1,436.4 crore, compared with Rs 1,223.7 crore in Q2 FY25, supported by a 15% YoY rise in total sales volume to 3.11 million tonnes. Of this, cement sales stood at 1.64 million tonnes (up 7% YoY), while round Granulated Blast Furnace Slag (GGBS) volumes surged 21% YoY to 1.38 million tonnes.
The company posted a sharp recovery at the bottom line, with profit before tax (PBT) turning positive at Rs 121.3 crore versus a pre-tax loss of Rs 74.5 crore in the year-ago period. Adjusted profit after tax (PAT) stood at Rs 75.4 crore, compared with a loss of Rs 39.9 crore in Q2 FY25.
Operating EBITDA climbed 64.2% YoY to Rs 267.5 crore, while total EBITDA increased 53% to Rs 291.2 crore. Operating EBITDA per ton was Rs 860 in Q2 FY26 as against Rs 602 in Q2 FY25. Operating EBITDA margin was 18.6% in Q2 FY26, as against 13.3% in Q2 FY25.
On the expense side, operating costs grew 10.2% YoY to Rs 1,168.9 crore, while finance costs declined 8.3% YoY to Rs 100.3 crore. Depreciation remained steady at Rs 79.5 crore as against Rs 76.8 crore in Q2 FY25.
JSW Cement also reduced its net debt to Rs 3,231 crore from Rs 4,566 crore as of 30 June 2025, largely due to IPO proceeds. The company continues to advance its pan-India capacity expansion, targeting 41.85 MTPA of grinding capacity and 13.04 MTPA of clinker capacity, with Rs 509 crore capex incurred in Q2 and Rs 964 crore in H1 FY26.
JSW Cement is a part of the JSW Group. As of 30 September 2025, the company had a cement grinding capacity of 21.60 MTPA. The company is among the top three fastest growing cement manufacturing companies in India in terms of increase in installed grinding capacity and sales volume from Fiscal 2015 to Fiscal 2025. The company’s product portfolio consists of blended cement (including portland slag cement, portland pozzolana cement and portland composite cement), GGBS, ordinary portland cement, clinker and a range of allied cementitious products such as ready mix concrete, screened slag, construction chemicals and waterproofing compounds.
Shares of JSW Cement fell 0.74% to settle at Rs 127.55 on 7 November 2025.