544480

Management expressed optimism about the Indian economy and long-term cement demand despite near-term softness in April 2026 due to inflation, elections, and labor shortages. They expect mid-to-high teens volume growth (excluding North) in FY27. The Nagaur integrated plant commenced operations in March 2026, targeting 50-60% utilization in FY27. The company guided for Capex of INR2,300 Cr in FY27 and INR2,200 Cr in FY28. Cost savings of ~INR100/ton are expected in FY27, driven by green energy adoption (targeting 63% from 24% in FY26), logistics, and premiumization. The long-term capacity guidance of 43 MTPA by FY30 remains intact, with a delayed Punjab expansion being compensated by adding 2.5 MTPA grinding capacity at Nagaur by Q4 FY28. A 25% tax rate is assumed from FY27.

JSW Cement Limited submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2026. The report, issued by M/s. S.K. Jain & Co., confirms that the company has complied with Regulation 24A(2) of SEBI Listing Regulations, 2015, with no non-compliances, resignations of statutory auditors, or regulatory actions noted during the review period.