JSW Cement Limited is a leading Indian manufacturer of green and sustainable cement, part of the diversified JSW Group. The company specializes in Portland Slag Cement (PSC), Ground Granulated Blast-furnace Slag (GGBS), and ready-mix concrete, with a strong presence in residential, commercial, and infrastructure segments. As of January 2026, JSW Cement is facing significant headwinds—53.87% YoY profit decline, negative sales growth (-4.99%), and low ROE (3.85%)—despite its strategic focus on eco-friendly production and pan-India expansion. This article provides a realistic outlook on the JSW Cement share price target 2026–2030.
JSW Cement: Company Overview
- Incorporated: 2006
- Managing Director: Mr. Parth Jindal
- NSE Symbol: JSWCEMENT
- Core Business:
- Green Cement (PSC, GGBS) – 85%
- Ready-Mix Concrete – 15%
- Market Position: Among India’s top 10 cement companies by capacity; one of the fastest-growing players in slag-based cement
JSW Cement leverages industrial by-products like slag and fly ash to reduce carbon footprint—aligning with India’s net-zero goals—but faces margin pressure due to high energy costs and competitive pricing.
JSW Cement: Key Financial Snapshot
| Metric | Value |
|---|---|
| Current Share Price | ₹117.00 |
| Market Capitalization | ₹15,910.47 Cr |
| No. of Shares Outstanding | 136.34 Cr |
| P/E Ratio (TTM) | 156.12 |
| P/B Ratio | 2.41 |
| EPS (TTM) | ₹0.75 |
| Book Value (TTM) | ₹48.52 |
| ROE | 3.85% |
| ROCE | 7.75% |
| Dividend Yield | 0.00% |
| Face Value | ₹10 |
| Cash | ₹114.07 Cr |
| Debt | ₹5,459.57 Cr |
| Promoter Holding | 72.33% |
| Sales Growth (YoY) | –4.99% |
| Profit Growth (YoY) | –53.87% |
Note: The company reported a net loss of ₹164 Cr in FY2025, marking its first annual loss in five years. High debt (Debt/Equity: ~2.0x) and weak cement pricing have eroded margins.
JSW Cement Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹124 – ₹140 |
| 2027 | ₹132 – ₹152 |
| 2028 | ₹140 – ₹166 |
| 2029 | ₹148 – ₹182 |
| 2030 | ₹156 – ₹200 |
Important: These targets assume no further equity dilution, stabilization of cement prices, and successful execution of capacity expansion. Upside is limited until profitability returns.
JSW Cement Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹124 | ₹140 |
JSW Cement reported a 53.87% YoY profit decline and 4.99% sales drop in FY2025, driven by weak demand in real estate and infrastructure. Trading at a P/E of 156x (despite losses) reflects market optimism on future recovery—not current performance. The 2026 target assumes modest volume recovery and cost rationalization.
JSW Cement Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹132 | ₹152 |
If the company stabilizes EBITDA margins (~12–14%) and benefits from government infrastructure spending, EPS could reach ₹0.85–₹0.95 by FY27. Assuming a P/E of 140–150x, the 2027 target range is justified—but remains speculative.
JSW Cement Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹140 | ₹166 |
By 2028, benefits from new capacity additions (e.g., 5 MTPA Odisha plant) and export initiatives should reflect in margins. A P/E of 130–140x on projected EPS of ₹1.00–₹1.10 supports the ₹140–₹166 band.
JSW Cement Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹148 | ₹182 |
Long-term tailwinds include India’s housing shortage, green building mandates, and JSW’s brand in slag cement. If competition eases and pricing power returns, EPS could reach ₹1.20–₹1.30 by FY29. At a P/E of 120–130x, the 2029 target is ₹148–₹182.
JSW Cement Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹156 | ₹200 |
Over a five-year horizon, JSW Cement remains a high-risk, turnaround-dependent bet. A terminal P/E of 110–120x on FY30 EPS (~₹1.40–₹1.60) justifies the ₹156–₹200 range.
JSW Cement: Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Promoters (JSW Group) | 72.33% |
| Public & Retail | 16.56% |
| Domestic Institutional Investors (DII) | 8.08% |
| Foreign Institutional Investors (FII) | 3.03% |
High promoter holding ensures strategic alignment, but limits float liquidity.
JSW Cement: Strengths vs Risks
Strengths:
- Strong parentage (JSW Group)
- Leadership in green cement
- Pan-India manufacturing footprint
- Aligned with ESG trends
Risks:
- Currently loss-making (Net Loss: ₹164 Cr in FY25)
- High debt (₹5,460 Cr; Debt/Equity: ~2.0x)
- Low ROCE (7.75%) limits capital efficiency
- No dividend history
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | Very High |
| Ideal Time Horizon | 5+ years |
| Volatility | Higher than sector average |
| Dividend/Income Potential | None (0% yield) |
| Best For | Aggressive investors betting on cement sector revival |
Final Verdict
JSW Cement is a strategically positioned but financially fragile company. While its green cement model is future-ready, current fundamentals are weak.
Our JSW Cement share price target 2026–2030 (₹124 to ₹200) reflects cautious optimism—rooted in sector recovery potential but tempered by execution risk. This is not an investment—it’s a speculative turnaround bet.
Disclaimer: Price targets are estimates based on publicly available data and sector analysis. They are not investment advice. Consult a SEBI-registered advisor before making decisions.
Sources
- Screener.in – JSW Cement Consolidated Page (FY2025 + TTM)
- Finology Ticker – JSWCEMENT Financials & Analysis
- JSW Group Investor Presentation (Q3 FY26, Jan 2026)
- Ministry of Housing & Urban Affairs – National Infrastructure Pipeline Update 2025
