JSW Cement Ltd (JSWCEMENT) Q2FY27 Concall Summary - Sep-2026 Qtr
Key Takeaways
- The Nagore plant achieved EBITDA break-even and is expected to see a cost reduction of 550-600 per tonne from newly commissioned cost-saving projects.
- Management guided that fuel costs will rise to 2.10/mcal in Q3, increasing cement costs by 90 per tonne, but expects this to be offset by price hikes.
- The company reaffirmed its capex plan of 2,300 crore for FY27 and confirmed the net debt-to-EBITDA ratio may hover around 3.2x for another year before declining.
Performance Overview
- Delivered strong total volume growth of 26% year-over-year, reaching 3.93 million tons, driven by a 40% increase in cement volumes.
- The North region operations successfully achieved EBITDA break-even for the first time in Q2 FY27, with plant utilization reaching 75%.
- Successfully commissioned a 1 MTPA grinding unit, a waste heat recovery system, and an alternate fuel co-processing system at the Nagore unit, aiming for significant cost reductions.
- Navigated a challenging external environment with geopolitical uncertainties and weaker monsoon, but saw resilient domestic demand from infrastructure and construction.
- Increased the share of green power to 41% during the quarter by adding 36 MW of wind capacity, which will help offset rising fuel costs.
Financial Metrics
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Operating Performance / Business Segments
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Key Discussions & Insights
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Outlook and Guidance
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Challenges / Concerns
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Industry / Competitive Landscape
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Overall Summary
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Tone & Disclosure
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