Slide 1: Regulation 30 filing cover letter to BSE and NSE
Cement Limited JSW Centre Opp. MMRDA Ground, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051. Tel : +91-22-4286 1000 Fax : 26502001 Website: www.jswcement.in CIN :– L26957MH2006PLC160839 Date: 28.05.2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange P
Slide 2: Investor Presentation May 2026
Investor Presentation May 2026 JSW Cement Investor Presentation – May 2026 1
Slide 3: Forward Looking and Cautionary Statement
Forward Looking and Cautionary Statement This presentation contains forward-looking statements within the meaning of applicable securities laws. These statements are based on management's current expectations and assumptions, and are subject to risks and uncertainties that could cause actual results
Slide 4: Agenda
Agenda About JSW Cement Financial Performance: Q4 & FY 2026 01 Amongst the Fastest Growing 03 Business Environment Cement Companies in India Operational & Financial Performance Growth Strategy Sustainability 02 Clear Blueprint for Creating a Pan- 04 Performance, Initiatives & India Presence Recognit
Slide 5: About JSW Cement
About JSW Cement Nandyal Integrated Unit
Slide 6: JSW Group
JSW Group Presence across core sectors Amongst India’s leading Conglomerates with a turnover of US$23 Bn(1) • India’s largest steel producer with • Power producer with 13.45 GW • India’s 2nd largest Private Ports • Capacity of 24.1 MTPA, growing to capacity of 33.4 MTPA(2) installed generation capac
Slide 7: JSW Cement: Snapshot
JSW Cement: Snapshot(1) 24.10 MTPA 9.74 MTPA South, West, East & 1 Scaled Capacity with Multi-Region Footprint Grinding Capacity across Clinker Capacity across North India & UAE 8 Units 4 Units Geographic Presence Among India’s Fastest Growing 14.7% (2) 14.2% (2) 15.6% (2) 2 Cement Manufacturers Gri
Slide 8: JSW Cement: Our Journey and Track Record of Expansion
JSW Cement: Our Journey and Track Record of Expansion FY06 FY09 FY13 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY25 Present Grinding Cap. (MTPA) 0.59 5.49 7.99 11.59 12.79 13.39 14.11 14.55 16.30 20.60 24.10 Incorporation Clinker Cap. (MTPA) - 2.00 2.26 2.26 2.26 3.25 3.30 3.30 5.12 6.44 9.74 Strategic Eff
Slide 9: JSW Cement: Strategically Located Manufacturing Footprint
JSW Cement: Strategically Located Manufacturing Footprint Manufacturing Footprint Multi-regional presence (MTPA) Region Grinding Capacity Clinker Capacity South 11.00 2.81 2.31 MTPA Fujairah West 4.50 2.31(1) (Clinker unit) UAE 1.32 MTPA East 6.10 1.32 Shiva Cement 2.50 MTPA (Clinker unit) North 2.5
Slide 10: FY 2026: Key Highlights
FY 2026: Key Highlights Total Volume Sold Revenue from Operations Operating EBITDA Operating EBITDA per ton 13.96 mn MT ₹ 6,512 crore ₹ 1,240 crore ₹ 888/MT +10.6% +12.0% +43.6% +204/MT Public Listing Milestone Entry into North India Commissioning of the Nagaur Successful listing of the company Inte
Slide 11: JSW GGBS: Superior Cementitious Properties driving use in RMC sector
JSW GGBS: Superior Cementitious Properties driving use in RMC sector GGBS production process (1) GGBS Application in RMC Raw material composition of RMC(2) OPC replacement potential in RMC(3) 35-37% Cementitious Rapid 6-8% products OPC% FA% GGBS% quenching with high Drying and OPC only 100% - - pres
Slide 12: JSW GGBS: Business profile
JSW GGBS: Business profile JSW Cement pioneered the GGBS business model and is the #1 GGBS producer in India GGBS market share in India (FY26) (1) Track record of scaling up (Vol sold) GGBS: Stable pricing, healthy margins, high returns (Mn MT) (GGBS Realisation - Rs/MT 2) 16% +15% CAGR 3,761 3,773
Slide 13: JSW GGBS: Growth Enablers and Strategies
JSW GGBS: Growth Enablers and Strategies Growth Enablers Growth Strategies 1 Multi-year supply contracts 1 Continue to increase number of customers Secured the slag output from JSW Steel plants in South & West Increase customer base within existing markets (Tier 1 cities) India; similar contracts wi
Slide 14: JSW GGBS: Landmark Projects
JSW GGBS: Landmark Projects Mumbai Ahmedabad High Speed Rail MTHL Atal Setu Mumbai Bengaluru International Airport Mumbai coastal road L&T Daewoo- Patna Bridge Paradip Port, Odisha JSW Cement Investor Presentation – May 2026 13
Slide 15: Growth Strategy
Growth Strategy Dolvi Grinding Unit
Slide 16: JSW Cement: Road Map for Growth
JSW Cement: Road Map for Growth Capacity Expansion Plan Clinker capacity 6.44 9.74 9.74 3.30 13.04 (MTPA) 5.00 46.00 2.00 1.00 2.75 4.00 35.25 2.00 1.65 3.50 24.10 20.60 Grinding capacity (MTPA) FY25 Grinding FY26 Grinding Nagaur, (1) JSW FZC, Vijayanagar, Dolvi, CY 2028 Mansa, Vijayanagar, Hatta, U
Slide 17: Key Project Updates: Nagaur Integrated Unit
Key Project Updates: Nagaur Integrated Unit Nagaur Integrated Unit Marking JSW Cement’s entry into North region 3.30 MTPA Clinker and 2.50 MTPA Cement Grinding Unit • Kiln light up successfully achieved on 17 Feb ’26 and first cement dispatched on 19 Mar’26 • AFR shed wall and tunnel work completed.
Slide 18: Key Project Updates: Nagaur Integrated Unit
Key Project Updates: Nagaur Integrated Unit JSW Cement Jaipur Brand Launch – April 13, 2026 Setting the Foundation in North India Jaipur Brand Launch • JSW Cement marked its entry into Rajasthan and Haryana with a landmark brand launch at Taj Rambagh Palace, Jaipur • Attended by 800+ dealers and cha
Slide 19: Key Project Updates: Other Projects
Key Project Updates: Other Projects Fujairah, UAE Nandyal Plant 1.65 MTPA Grinding Unit Chlorine Bypass System • New company formation completed with the name “JSW Cement • Proposed system will allow the plant to increase the Middle East LLC SPC” Thermal Substitution Rate to ~25% by end FY27 • Appro
Slide 20: Financial Performance: Q4 & FY 2026
Financial Performance: Q4 & FY 2026 Vijayanagar Grinding Unit
Slide 21: Indian Economy
Indian Economy Growth, Stability & Confidence continued … However, in the forecast for a strong growth outlook in FY27; Govt Capex expected to be a key support to anchor India’s economy in FY26 … amid rising costs RBI raised FY26 GDP forecast to 7.4% on Macro factors Impact on Economy & Impact on Ce
Slide 22: Q4 FY26: Key Highlights
Q4 FY26: Key Highlights ▪ Total Volume Sold: 3.99 mn. MT, increased by 6.8% YoY ▪ Cement Volume Sold: 2.35 mn. MT, increased by 11.6% YoY ▪ GGBS Volume Sold: 1.57 mn. MT, increased by 5.4% YoY Operational ▪ Cement realization increased by 4.8% QoQ; GGBS realization stable on QoQ basis Updates ▪ Ceme
Slide 23: Quarterly Sales Volume
Quarterly Sales Volume Cement Volume Sold (mn. MT) + 11.6% YoY Total Volume Sold1 (mn. MT) +24.1% QoQ +6.8% YoY + 12.1% QoQ 2.10 2.35 1.89 Q4 FY25 Q3 FY26 Q4 FY26 3.73 3.56 3.99 GGBS Volume Sold (mn. MT) +5.4% YoY Q4 FY25 Q3 FY26 Q4 FY26 +2.1% QoQ ▪ Total sales volume(1) increased by 6.8% on YoY bas
Slide 24: Quarterly Revenue from Operations
Quarterly Revenue from Operations Cement Realisation (1) (₹/MT) Revenue from Operations (₹ crore) +0.9% YoY +4.8% QoQ +10.9% YoY +16.9% QoQ 4,630 4,459 4,673 1,895 Q4 FY25 Q3 FY26 Q4 FY26 1,709 1,621 GGBS Realisation (1) (₹/MT) Q4 FY25 Q3 FY26 Q4 FY26 +0.2% YoY +0.7% QoQ ▪ Revenues increased by 10.9
Slide 25: Quarterly Raw Material, Power & Fuel Costs
Quarterly Raw Material, Power & Fuel Costs Average Fuel Consumption Cost (2) (₹/MCal) Cost of Raw Materials (1) + Power & Fuel (₹/MT) -0.1% YoY 1.55 1.50 1.49 1.49 1.44 +0.8% QoQ 1,848 1,830 1,846 639 665 594 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 1,209 1,165 1,252 ▪ Combined cost were stable on Yo
Slide 26: Quarterly Logistics Cost
Quarterly Logistics Cost Logistics Cost (₹/MT) +3.6% YoY +5.8% QoQ 1,076 1,054 1,115 Q4 FY25 Q3 FY26 Q4 FY26 ▪ Logistics cost per ton increased by 3.6% YoY and by 5.8% on QoQ basis ▪ Cost increase YoY driven mainly by increase in overall lead distance. This was primarily due to increase in GGBS lead
Slide 27: Quarterly Employee Cost and Other Expenses
Quarterly Employee Cost and Other Expenses Employee Cost (1,2) (₹/MT) Other Expenses (2) (₹/MT) Excl. ESOP -9.0% YoY costs 202 240 205 -16.2% YoY +7.2% QoQ -15.5% QoQ As reported 728 (incl. ESOP 618 663 costs) 257 255 215 Q4 FY25 Q3 FY26 Q4 FY26 Q4 FY25 Q3 FY26 Q4 FY26 ▪ Excluding ESOP costs, Employ
Slide 28: Quarterly Operating EBITDA
Quarterly Operating EBITDA Operating EBITDA (₹ crore) Operating EBITDA (₹/ton) Op. EBITDA Margin 14.6% 17.6% 19.3% +45.9% YoY 916 802 671 +28.1% QoQ Q4 FY25 Q3 FY26 Q4 FY26 365.0 ▪ Op. EBITDA per ton increased on YoY basis, primarily 285.1 driven by operating leverage, reduction in certain raw 250.1
Slide 29: FY 2026: Consolidated Financial Performance
FY 2026: Consolidated Financial Performance Total Volume Sold (1) (mn. MT) Cement Volume Sold (mn. MT) GGBS Volume Sold (mn. MT) 10.6% YoY 9.0% YoY 11.6% YoY 12.63 13.96 7.73 5.18 5.78 7.09 FY25 FY26 FY25 FY26 FY25 FY26 Revenue from Operations (₹ crores) Operating EBITDA (₹ crores) 12.0% YoY 43.6% Y
Slide 30: Summary Income Statement
Summary Income Statement Variance Variance Q4 FY25 Q4 FY26 Particulars (₹ Crores) FY25 FY26 (% YoY) (% YoY) 1,709.4 1,895.0 10.9% Revenue 5,813.1 6,512.5 12.0% 1,459.3 1,530.0 4.8% Less: Operating Expenses 4,948.9 5,272.2 6.5% 250.1 365.0 45.9% Operating EBITDA 864.2 1,240.3 43.6% 250.1 378.4 51.3%
Slide 31: Fair Value Expense arising from Financial Instruments (CCPS) designated as FVTPL
Fair Value Expense arising from Financial Instruments (CCPS) designated as FVTPL Background ▪ The Company raised ₹ 1,600 crore in FY22, by issuing Compulsory Convertible Preference Shares (CCPS) to 3 investors viz. AP Asia Opportunistic Holdings Pte. Ltd., Synergy Metals Investments Holding Limited
Slide 32: Consolidated Net Debt Position
Consolidated Net Debt Position (₹ Crore) 217 32 3,635 3,557 246 (202) (217) Net Debt Dec'25 New loan Repayments Movement in Movement in Forex and Net Debt Mar'26 short term & CC Cash & Bank Upfront Particulars Q4 FY25 Q3 FY26 Q4 FY26 Net Debt (₹ crore) 4,204 3,557 3,635 Cash & cash equivalent (₹ cro
Slide 33: Sustainability
Sustainability Vijayanagar Solar Capacity
Slide 34: Sustainability Performance
Sustainability Performance Specific Thermal Energy (Kcal/kg Clinker) GHG Emission Intensity (tCO2/tcm) Clean Energy Portfolio (RE+WHRS %) 749 Scope1 Scope 2 745 25.4 743 24.0 740 21.5 738 241 241 230 222 15.0 174 33 4.0 29 28 26 27 FY23 FY24 FY25 Q4FY26 FY26 FY23 FY24 FY25 Q4FY26 FY26 FY23 FY24 FY25
Slide 35: Sustainability Initiatives and Recognitions
Sustainability Initiatives and Recognitions British Safety Council Award Golden Peacock Award for Innovation Management Shiva Cement JSW Cement was received the recognized for Distinction Award for excellence in fostering Excellence in Safety a culture of Performance and innovation and Safety Practi
Slide 36: Thank You
THANK YOU Investor Relations Contact ir.jswcement@jsw.in Jajpur Grinding Unit