JSW Cement shares climbed nearly 9.3% in intraday trade on Thursday, hitting ₹127, their highest point since November 20, 2025, on the National Stock Exchange (NSE). The significant jump was directly attributed to the company's return to profitability in the December quarter (Q3FY26), a stark contrast to the same period last year. Net profit stood at ₹130.6 crore, reversing a ₹80.2 crore loss from Q3FY25. Revenue for the quarter saw a 13.2% year-on-year increase, reaching ₹1,621.2 crore from ₹1,432.7 crore. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) also showed robust growth, up 51.4% to ₹371.2 crore from ₹245.2 crore year-on-year.
Operational Efficiency Drives Profit
The company's investor presentation highlighted that increased volume during the third quarter was a key driver for topline growth. Operating EBITDA per ton improved by 32% year-on-year, largely benefiting from operating leverage. However, sequential growth in operating EBITDA per ton was more modest at 7%, as cement prices softened and raw material costs edged higher. Raw material costs rose 2.8% year-on-year in Q3FY26, and 4.7% quarter-on-quarter.
Global Footprint Expansion
Adding to the bullish sentiment, JSW Cement announced its intention to establish a wholly-owned subsidiary in Fujairah, United Arab Emirates (UAE). This subsidiary will undertake the construction of a grinding unit with an estimated capital cost of $39 million. This strategic move signals the company's ambition to expand its geographical reach and tap into international markets.
Technical Outlook Positive
Analysts noted that JSW Cement, which had been underperforming since its secondary market listing, opened with a gap up on strong quarterly numbers. It is now trading above a previous 10-week congestion zone, marking a potential technical breakout. A decisive close above ₹125 could propel the stock towards ₹140 in the near term, with support expected around ₹120-₹116 levels.