JSW Cement Ltd. has outlined plans to increase its cement manufacturing capacity to 46 million tonnes per annum (MTPA) over the next few years by strengthening its presence in northern, central and eastern India.
In his letter to shareholders, Chairman M.V.S. Seshagiri Rao said the company currently operates an installed capacity of 24.1 MTPA and is on track to increase it to 35.25 MTPA by 2028 through a combination of brownfield expansion and greenfield projects.
Expansion strategy
The company’s growth strategy is guided by capital discipline, market opportunities and operational readiness.
“Scale matters in cement. Yet scale creates value only when it is built with capital discipline, market logic and operational readiness. Our growth roadmap is guided by these principles,” he said.
Nagaur plant commissioned
During FY26, JSW Cement commissioned its integrated plant at Nagaur in Rajasthan, marking its entry into integrated manufacturing in northern India and strengthening its presence in high-growth markets such as Rajasthan, Haryana, Punjab and the National Capital Region.
The company also commissioned a grinding unit at Sambalpur in Odisha, expanding its footprint in eastern India and improving supply chain efficiency and customer reach.
Funding plans
According to him, the company’s expansion programme has been designed to remain lean, efficient and scalable.
The expansion will be funded through a balanced mix of internal accruals and debt while maintaining prudent financial discipline.
Net debt under control
The company aims to keep its net debt-to-EBITDA ratio below 3 times and exercise tight control over overall debt levels.
As operating cash flows strengthen, JSW Cement also plans to maintain a balanced approach to shareholder returns, supported by its decision to initiate dividend payments.
Long-Term Vision
Rao said the company would continue to position itself as a pan-India cement producer built on disciplined expansion, sustainability, governance, operational excellence and long-term value creation.