JSW Cement Ltd

JSW Cement Limited's Board of Directors has approved a Scheme of Arrangement for the amalgamation of its subsidiary, Shiva Cement Limited (SCL), with itself. The scheme, subject to shareholder and regulatory approvals, involves the reorganization of reserves of both companies. Specifically, SCL's accumulated losses will be adjusted against its Securities Premium Account. The amalgamation aims to right-size SCL's financial statements. JSW Cement holds 66.23% of SCL's equity. The transaction is considered a related party transaction but is expected to have no benefit to promoters and no impact on shareholding patterns.

JSW Cement Limited announced that its Board of Directors has approved a Scheme of Arrangement for the amalgamation of its subsidiary, Shiva Cement Limited (SCL), with JSW Cement Limited (JCL). The scheme also involves the reorganization of reserves of both companies. The amalgamation is subject to shareholder and regulatory approvals, including from the National Company Law Tribunal. The appointed date for the scheme is April 01, 2026. The restructuring aims to right-size the financial statements of SCL. JSW Cement currently holds 66.23% of SCL's equity share capital.

JSW One Platforms Limited, a subsidiary of JSW Cement Ltd, has filed its Draft Red Herring Prospectus (DRHP) dated September 24, 2026. This filing with the Securities and Exchange Board of India, BSE Limited, and National Stock Exchange of India Limited marks a significant step towards its Initial Public Offer (IPO) of equity shares. The IPO is contingent upon receiving necessary regulatory approvals, favorable market conditions, and other considerations. This development follows a previous intimation on August 13, 2026.

JSW Cement Ltd has received a Show Cause Notice from the Additional Commissioner of Central Tax, Belagavi Audit Commissionerate, proposing a GST demand of ₹229.85 crore for the period April 2022 to March 2024. The demand is related to alleged short payment of GST due to incorrect classification. The notice also includes proposals for applicable interest and a 10% penalty. While the company is preparing a reply, it states there is no material impact on its operations. The company is also uploading this information on its website.

JSW Cement Ltd has disclosed receipt of a Show Cause Notice from the Joint Commissioner of State Tax, CT & GST Circle, Jajpur, dated August 29, 2026. The notice, issued pursuant to a GST audit for FY 2022-23, alleges short payment of tax and irregular availment of input tax credit. The total proposed demand amounts to ₹55,97,98,020, encompassing tax, interest, and penalty. The company is preparing a reply to contest the allegations, stating that the matter primarily involves interpretation and reconciliation issues for which they have supporting documentation. JSW Cement asserts that despite the significant demand, there is no material impact on the company.

JSW Cement Ltd has received a Show Cause Notice from the Joint Commissioner, Haldia CGST & CX Commissionerate, alleging wrongful availment of excess Input Tax Credit (ITC) of ₹13,90,55,461/- for FY 2020-21. The notice, issued under Section 74 of the CGST Act, 2017, claims discrepancies in GSTR-3B, GSTR-9, and GSTR-2A data. The company's defense regarding import IGST reporting has been rejected. The notice proposes recovery of the alleged excess credit along with interest and penalty. JSW Cement is preparing a reply and states there is no material impact on the company despite the demand.

JSW Cement Ltd has disclosed receiving a Show Cause Notice from the Office of the Additional Commissioner, Central Tax (Audit), Guntur, dated August 20, 2026. The notice pertains to alleged contraventions of GST laws for the fiscal years 2020-21 to 2022-23. Key allegations include irregular reduction of taxable value, incorrect classification, wrong tax rate adoption, failure to furnish proof of supply for SEZ units, wrong availment of Input Tax Credit (ITC), and non-payment of interest on net cash liability. The proposed demand amounts to ₹81,03,42,387/- in GST, plus applicable interest and penalty. The company is in the process of filing a reply and states there is no material impact on its operations despite the significant demand.

JSW Cement Ltd has received a Show Cause cum Demand Notice from the Joint Commissioner, Central Tax (Audit), Kolkata, dated August 18, 2026. The notice, issued under Section 74 of the CGST Act 2017, alleges various discrepancies including availment of ineligible Input Tax Credit (ITC), excess availment of ITC, short payment of GST on finished goods, and turnover differences. The total proposed GST demand amounts to ₹10,26,58,291, along with applicable interest and penalty. The company states there is no material impact on its operations and is in the process of filing a reply. This information is also being uploaded on the company's website.

JSW Cement reported its consolidated financial results for Q1 FY27, with revenue increasing by 22% year-on-year to ₹1,896 crore. Total volume sold grew 15% YoY to 3.81 million tonnes, driven by a 27% YoY increase in cement volume. The company commissioned its integrated unit in Rajasthan, contributing to sales in new regions. Operating EBITDA stood at ₹298.6 crore, a 7% decrease YoY, while Profit After Tax was ₹153.4 crore. The company also made progress on expansion projects and increased its renewable energy capacity.

JSW Cement Limited's Board of Directors, in a meeting held on August 13, 2026, approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The board also approved raising funds up to ₹500 crores through the issuance of rated and listed Non-Convertible Debentures on a private placement basis. The Finance Committee has been authorized to finalize the terms of the debenture issuance. The meeting commenced at 2:30 p.m. and concluded at 5:40 p.m. The company also provided the Limited Review Report from its statutory auditors, Deloitte Haskins & Sells LLP, for the unaudited financial results.