JSWCEMENT · Construction Materials
JSW Cement Ltd. reported revenue of ₹1,709 cr for January to March 2025, — on the year and +19.3% on the quarter.
Operating profit (EBITDA) was ₹240 cr, a margin of 14.0%, — on the year and +595 bps on the quarter.
Net profit was ₹16.0 cr, — on the year and — on the quarter, with earnings per share of ₹0.34.
Capital goods and EPC revenue follows project execution, which makes quarters uneven; the order book and new orders tell more about the year than one quarter does. The quarterly statements do not carry the order book, new orders and working capital; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
Other income is carrying a large and rising share of profit. Treasury gains, interest, or one-off?
Source: Quarterly statements
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,447 cr | ₹1,224 cr | ₹1,433 cr | ₹1,709 cr | ₹1,560 cr | ₹1,436 cr | ₹1,621 cr | ₹1,895 cr | ₹1,896 cr | ₹1,912 cr |
| YoY | — | — | — | — | +8% | +17% | +13% | +11% | +22% | +33% |
| EBITDA margin | 11.6% | 6.9% | 8.1% | 14.0% | 20.7% | 18.7% | 17.6% | 19.3% | 15.8% | 14.5% |
| Other income, % of PBT | 300% | — | — | 37% | — | 28% | 36% | 10% | 45% | 37% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — |
| Tax rate | — | — | — | 79% | — | 38% | 29% | — | 19% | 23% |
| Net profit | −₹24.0 cr | −₹76.0 cr | −₹80.0 cr | ₹16.0 cr | −₹1,366 cr | ₹75.0 cr | ₹131 cr | ₹362 cr | ₹153 cr | ₹78.0 cr |
| YoY | — | — | — | — | — | — | — | +2,163% | — | +4% |
| Core profit YoY | — | — | — | — | — | — | — | +302% | −27% | −26% |
| EPS | −₹0.15 | −₹0.63 | −₹0.68 | ₹0.34 | −₹13.31 | ₹0.63 | ₹1.04 | ₹2.72 | ₹1.18 | ₹0.63 |
| Flags | 1 | · | · | 1 | ✓ | ✓ | 2 | 2 | 3 | 2 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
JSW Cement Ltd. reported revenue of ₹1,709 cr (— on the year) and net profit of ₹16.0 cr (— on the year) for January to March 2025.
1 check raised a question: Other income is carrying a large and rising share of profit. Treasury gains, interest, or one-off?
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