Newly listed JSW Cement is aggressively expanding into north India, doubling its brand spending to challenge established rivals despite geopolitical tensions, high inflation, and soft demand.
Following its August 2025 listing, the company entered the northern market via its new Nagaur plant in Rajasthan. JSW spent INR230m on marketing and manpower in the March quarter alone, onboarding 1000 regional dealers.
While West Asia conflicts raised fuel and packaging costs, and regional elections slowed April construction, JSW outpaced the industry. March quarter volumes rose 12 per cent YoY, driving revenue up 11 per cent to INR18,950m. Operating EBITDA surged 46 per cent to INR3650m, fuelled by cost controls and a shift to premium products, which made up 52 per cent of sales.
Operationally, JSW is focusing on sustainability to lower costs, aiming to boost renewable energy use from 24 per cent to over 60 per cent within two years. Supply chain hiccups, including western India pollution shutdowns and slag shortages, have now been resolved. Due to regulatory delays in Punjab, JSW redirected investments to Rajasthan to expand grinding capacity to 6Mt, keeping its 43Mt target for 2030 firmly on track.
