Highlights

• JSW Cement reported 43.6 percent rise in FY26 operating EBITDA amid higher sales volumes.
• Nagaur integrated unit commissioning marked the company’s entry into North India operations.
• Cement and GGBS sales growth supported quarterly revenue and margin expansion during Q4 FY26.

Shares of JSW Cement Limited (NSE:JSWCEMENT) remained in focus on May 22, 2026, after the company released its Q4 FY26 and full-year FY26 financial presentation. The stock traded around Rs 139.80, up 9.68 percent intraday on the National Stock Exchange of India Limited.

The stock touched an intraday high of Rs 142.50 compared with the previous close of Rs 127.46. Trading activity increased after the company reported higher operating EBITDA, volume growth and commissioning progress across expansion projects.

Source: TradingView

Nagaur Plant Marks North India Expansion

JSW Cement commenced production at its Nagaur integrated cement unit in Rajasthan during March 2026. The facility includes a 3.3 MTPA clinker unit and an initial 2.5 MTPA cement grinding capacity.

The company said the Nagaur unit marked its operational entry into North India. During Q4 FY26, the board also approved an additional 2.5 MTPA grinding expansion at Nagaur at a capital cost of Rs 430 crore.

JSW Cement plans to increase grinding capacity from 24.1 MTPA in FY26 to 46 MTPA by CY2028 through greenfield and brownfield expansion projects across multiple regions.

GGBS Segment and Sustainability Focus Continue

The company maintained a significant presence in the ground granulated blast furnace slag segment, or GGBS, where it estimates an all-India market share of around 84 percent.

GGBS volumes increased 11.6 percent year-on-year to 5.78 million metric tonnes during FY26, while cement volumes rose 9 percent year-on-year.

JSW Cement also highlighted sustainability initiatives, including low carbon emission intensity and increasing clean energy usage across manufacturing operations.

FY26 Revenue and EBITDA Register Growth

JSW Cement reported consolidated revenue from operations of Rs 6,512 crore during FY26, reflecting 12 percent year-on-year growth. Total volume sold increased 10.6 percent year-on-year to 13.96 million metric tonnes.

Operating EBITDA rose 43.6 percent to Rs 1,240 crore during FY26, while operating EBITDA per tonne increased to Rs 888 per metric tonne from Rs 684 per metric tonne in FY25.

For Q4 FY26, revenue from operations stood at Rs 1,895 crore, up 10.9 percent year-on-year. Quarterly operating EBITDA increased 45.9 percent year-on-year to Rs 365 crore, equivalent to Rs 916 per tonne.

The company stated that higher sales volumes, improved cement realisations and operating leverage contributed to margin expansion during the quarter.

Source: Company Filing

Key Risks Investors Should Track

• Rising fuel and raw material prices may impact operating margins.
• Large expansion projects could increase execution and financing risks.
• Demand slowdown in housing or infrastructure may affect cement volumes.
• Currency depreciation may increase imported fuel and equipment costs.

Summary

JSW Cement (NSE:JSWCEMENT) remained in focus after reporting double-digit growth in FY26 revenue and operating EBITDA alongside higher sales volumes. Expansion into North India through the Nagaur integrated plant and planned grinding capacity additions remained key operational developments. Investors may continue monitoring cement demand trends, raw material costs, expansion execution, debt levels and profitability metrics during FY27.

FAQs

Q: Why did JSW Cement shares rise on May 22, 2026?
A: JSW Cement shares gained after the company reported higher FY26 EBITDA, revenue growth and expansion project progress.

Q: What was JSW Cement’s FY26 operating EBITDA?
A: JSW Cement reported FY26 operating EBITDA of Rs 1,240 crore, rising 43.6 percent year-on-year from FY25.

Q: What is the significance of the Nagaur cement plant?
A: The Nagaur integrated unit marked JSW Cement’s operational entry into the North India cement market.