JSW Cement LimitedQ2 FY27 Results & Financial Update
JSW Cement Limited: Q2 FY27 consolidated results and company financials – revenue ₹1,912.15 Cr, PAT ₹77.63 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore JSW Cement Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
During the second quarter of fiscal year 2027 (Q2 FY27), JSW Cement reported consolidated total revenue from operations of INR 1,912.15 crore, marking a modest sequential movement compared to INR 1,896.41 crore recorded in the preceding quarter (Q1 FY27).
Total income for the quarter stood at INR 1,929.30 crore, compared to INR 1,970.19 crore in Q1 FY27, reflecting stable top-line performance amidst prevailing seasonal and cost environment dynamics.
Profit before tax (PBT) for Q2 FY27 was recorded at INR 80.70 crore, representing a contraction compared to INR 177.44 crore in the previous quarter, largely influenced by changes in operating expenses and other income items.
Profit after tax (PAT) for the quarter settled at INR 77.63 crore, down from INR 153.43 crore reported in Q1 FY27, yielding a reported PAT margin of approximately 4.06%.
Basic and diluted earnings per share (EPS) for the quarter came in at INR 0.63, compared to INR 1.19 in the preceding quarter.
Finance costs for Q2 FY27 stood at INR 114.45 crore, compared to INR 97.35 crore in Q1 FY27, reflecting ongoing capital deployment and funding servicing requirements.
Depreciation and amortisation expense for the quarter was reported at INR 99.78 crore, consistent with the capital-intensive nature of cement manufacturing operations.
JSW Cement Limited reported consolidated total revenue from operations of INR 1,912.15 crore for the quarter ended September 30, 2026, marking a slight sequential increase compared to INR 1,896.41 crore recorded in the previous quarter ended June 30, 2026.
01 · Business model
What does JSW Cement do?
JSW Cement Limited operates as a prominent manufacturer of cement and building materials, catering primarily to infrastructure, housing, and construction sectors across domestic markets.
The company's primary revenue engine is derived from the production and sale of various cement types, leveraging operational efficiencies and distribution networks aligned with the broader JSW Group industrial ecosystem.
Its business model centers on scaling manufacturing capacity, optimizing input energy and raw material logistics, and maintaining broad geographic reach to serve retail and institutional builders.
02 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹1,912.15 Cr | ₹1,896.41 Cr |
| Total income | ₹1,929.30 Cr | ₹1,970.19 Cr |
| Profit before tax | ₹80.70 Cr | ₹177.44 Cr |
| Profit after tax | ₹77.63 Cr | ₹153.43 Cr |
| EPS | ₹0.63 | ₹1.19 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 4.1% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 4.2% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹17.15 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from operations reached INR 1,912.15 crore for Q2 FY27, supported by steady volume off-take across regional markets.
Total income reached INR 1,929.30 crore, incorporating operating revenue alongside INR 17.15 crore of other income and interest income components.
Consolidated revenue from operations reached INR 1,912.15 crore in Q2 FY27, demonstrating steady top-line generation matching the sequential pace set in Q1 FY27 (INR 1,896.41 crore).
Total income for the quarter reached INR 1,929.30 crore, supported by operational revenues and other income elements including INR 17.15 crore in general other income and INR 22.62 crore in interest income.
What drove margins
Finance expenses stood at INR 114.45 crore during the quarter, reflecting the cost of borrowings supporting ongoing capital expenditure and operational scaling.
Depreciation and amortisation expenses of INR 99.78 crore reflect the depreciation charge on the company's fixed asset base and production facilities.
Tax expenses for the quarter were recorded at INR 23.11 crore on a PBT of INR 80.70 crore.
PAT margin moderated to 4.06% in Q2 FY27 from 8.09% in Q1 FY27, reflecting lower sequential bottom-line earnings on steady revenue.
Fixed cost overheads included finance costs of INR 114.45 crore and depreciation charges of INR 99.78 crore during the quarter.
04 · Reported developments
What changed operationally
Maintained revenue above INR 1,910 crore on a consolidated basis, demonstrating resilience in core cement demand.
05 · Pressure points & risks
What is not going smoothly
Profit after tax declined sequentially to INR 77.63 crore in Q2 FY27 from INR 153.43 crore in Q1 FY27.
06 · Items worth noticing
The line items that can distort a quick read
Other income for the quarter stood at INR 17.15 crore, alongside interest income of INR 22.62 crore.
The company reported provisions of INR 3.06 crore during the quarter.
The company recorded tax expenses of INR 23.11 crore and provisions of INR 3.06 crore during the quarter.
07 · Beyond the numbers
What changed beyond the numbers
Reported update
Regulatory filing submission
The financial results for Q2 FY27 were officially filed through the NSE electronic portal in compliance with SEBI Listing Obligations and Disclosure Requirements.
Reported update
Regulatory Filing Disclosure
Financial results for the quarter ended September 30, 2026, were officially filed through the structured XBRL compliance portal under Indian Accounting Standards (Ind AS).
08 · Previous-quarter changes
What changed since the previous quarter
Revenue from operations moved from INR 1,896.41 crore in Q1 FY27 to INR 1,912.15 crore in Q2 FY27.
PAT moved from INR 153.43 crore in Q1 FY27 to INR 77.63 crore in Q2 FY27.
Revenue from operations moved from INR 1,896.41 crore in Q1 FY27 to INR 1,912.15 crore in Q2 FY27, while total income shifted from INR 1,970.19 crore to INR 1,929.30 crore over the same period.
09 · Key Q&A
The quarter, answered directly
What does JSW Cement do?
JSW Cement Limited operates as a prominent manufacturer of cement and building materials, catering primarily to infrastructure, housing, and construction sectors across domestic markets.
What is the clearest takeaway from Q2 FY27?
During the second quarter of fiscal year 2027 (Q2 FY27), JSW Cement reported consolidated total revenue from operations of INR 1,912.15 crore, marking a modest sequential movement compared to INR 1,896.41 crore recorded in the preceding quarter (Q1 FY27).
What drove revenue or demand?
Revenue from operations reached INR 1,912.15 crore for Q2 FY27, supported by steady volume off-take across regional markets.
What mattered most for margins or profitability?
Finance expenses stood at INR 114.45 crore during the quarter, reflecting the cost of borrowings supporting ongoing capital expenditure and operational scaling.
What changed operationally beyond the headline numbers?
The financial results for Q2 FY27 were officially filed through the NSE electronic portal in compliance with SEBI Listing Obligations and Disclosure Requirements.
What are the main pressure points disclosed for the quarter?
Profit after tax declined sequentially to INR 77.63 crore in Q2 FY27 from INR 153.43 crore in Q1 FY27.
10 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
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Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
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The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
11 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Cost Management: Monitor future finance cost trends and operational efficiencies in upcoming quarterly disclosures.
- 02
Earnings Trajectory: Track subsequent quarterly volume off-take and margin realizations relative to Q2 FY27 levels.
- 03
Next Financial Disclosure: Monitor subsequent quarterly filings for trends in operating margins, finance costs, and volume growth.
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