JSW Cement Ltd Share Price Today

Actions	Ex-Date	Record-Date
DividendsFinal Dividend of 5% at ₹0.5/Share	10-Jul-2026	10-Jul-2026

Mutual Fund Holder	Aug 26 Shares held	Sep 26 Shares held
Nippon India Small Cap Fund - Growth	2.03 Cr	2.03 Cr no change
SBI Multicap Fund - Regular Plan - Growth	2.00 Cr	2.00 Cr no change
SBI ELSS Tax Saver Fund - Regular Plan - IDCW	1.16 Cr	1.16 Cr no change
ICICI Prudential Small Cap Fund - Growth	74.94 Lac	92.39 Lac (23.28%)
ICICI Prudential Aggressive Hybrid Fund - Growth	86.88 Lac	92.19 Lac (6.1%)

Ankit Gupta

18 Oct • 6:36 PM · SEBI-Registered Analyst

JSW Cement Wins SGST Reimbursement Case in Odisha HC

JSWCEMENT

CEMENT: JSW Cement Limited has secured a favourable outcome in a case concerning State Goods and Services Tax (SGST) reimbursement before the Odisha High Court. The development marks a legal and tax-related update for the cement manufacturer and relates to the company’s reimbursement matter under the applicable state tax framework. SGST reimbursement cases generally involve the interpretation of tax provisions, eligibility criteria and the conditions governing the return or reimbursement of taxes paid by businesses. For manufacturing companies, such matters can be relevant to tax administration, working capital management and the recovery of eligible amounts. The outcome of this case provides an update on JSW Cement’s legal proceedings concerning the reimbursement issue. However, the precise financial implications of the court’s decision cannot be determined from the brief announcement alone. Details such as the reimbursement amount involved, the specific grounds of the dispute, the period covered and the operative directions issued by the court have not been provided in the information available here. The actual benefit, if any, will depend on the terms of the order and the subsequent reimbursement process. Market participants may monitor further company disclosures for clarification regarding the court’s findings, the amount claimed and the next steps in implementing the decision. Any impact on the company’s financial statements or cash flows would depend on the amount involved and the applicable accounting treatment. This information is shared strictly as a corporate and market update for informational purposes and should not be considered investment advice, research analysis, or a recommendation to buy or sell any security.

Ankit Gupta

17 Oct • 7:40 PM · SEBI-Registered Analyst

JSW Cement Wins SGST Reimbursement Case in Odisha HC

JSWCEMENT

CEMENT: JSW Cement has secured a favourable outcome in a case concerning State Goods and Services Tax (SGST) reimbursement before the Odisha High Court. The development relates to the company’s tax reimbursement matter and represents a legal and regulatory update for the cement manufacturer. State GST reimbursement matters can involve the interpretation of applicable state policies, eligibility conditions and procedures governing the reimbursement of taxes paid by businesses. The outcome of this case may have implications for the company’s claim under the relevant provisions, depending on the specific directions and findings contained in the court’s order. For businesses operating in the manufacturing sector, tax-related disputes and reimbursement claims can affect the timing of eligible recoveries and the treatment of related amounts in financial statements. However, the exact financial implications of this development for JSW Cement cannot be determined from the brief announcement alone. Details such as the reimbursement amount involved, the specific legal grounds, the period covered and any conditions attached to the court’s decision have not been provided in the information available here. Market participants may monitor the company’s official disclosures for further clarification regarding the court order, the reimbursement process and any potential impact on its financial position. The actual financial effect, if any, will depend on the amount involved and the implementation of the applicable order. This information is shared strictly as a corporate and market update for informational purposes and should not be considered investment advice, research analysis, or a recommendation to buy or sell any security.

Ketan Mittal (SEBI RA)

7 Oct • 1:03 PM · SEBI-Registered Analyst

JSW Cement adds 1 MTPA capacity in North India

JSW Cement Limited has commissioned a 1 MTPA grinding unit at its Nagaur plant in Rajasthan. The addition takes the company's total cement grinding capacity to 25.1 MTPA, with Nagaur's grinding capacity rising to 3.5 MTPA. This is more than a routine capacity announcement. The new unit strengthens JSW Cement's presence across Rajasthan, Haryana, Punjab and the NCR, where the company is still building its market position. JSW Cement had only entered North India with the Nagaur integrated plant in March 2026. The company is therefore moving quickly from establishing manufacturing capacity to adding grinding capacity in the same region. The risk is utilisation. A new 1 MTPA unit creates value only if JSW Cement can fill the capacity without sacrificing realisations. North India is also a competitive cement market, so incremental volumes may come with higher selling and distribution costs initially. The positive is that the company has also commissioned a Waste Heat Recovery System and Alternate Fuel Handling System at Nagaur, which should help the cost structure as utilisation improves. F My view: The capacity addition strengthens JSW Cement's long-term regional strategy, but I would treat it as an execution story rather than an immediate earnings trigger. The next few quarters will tell us whether the new capacity can achieve attractive utilisation without putting pressure on realisations. What I am watching next: Nagaur utilisation, North India volumes, cement realisations and EBITDA per tonne.

Saksham Sharma

3 Oct • 6:08 PM · SEBI-Registered Analyst

JSW Cement to merge Shiva Cement at 5:41 ratio

JSW Cement Limited

JSWCEMENT

will merge its listed subsidiary Shiva Cement Limited (SHIVACEM) into itself. Shiva Cement's public shareholders will receive 5 JSW Cement shares for every 41 Shiva Cement shares held. JSW Cement holds a 66.23% stake in Shiva Cement. It built this up from an initial 37% acquisition in January 2018, followed by an open offer. Shiva Cement runs a 1.32 million tonne clinker facility in Odisha. The scheme will fold Shiva Cement into JSW Cement and reorganise reserves at both companies. Management expects this to take 12 to 14 months, pending approvals from the exchanges, SEBI and the NCLT. The stated reason is backward integration. JSW Cement wants its own clinker supply instead of buying from outside vendors. The swap ratio is the number I'd actually check here, not the merger rationale. Five JSW Cement shares for every 41 Shiva Cement shares is not a round number. It comes from a specific valuation exercise comparing the two companies. That valuation is what decides whether Shiva Cement's minority shareholders are getting a fair deal. The backward integration logic makes sense on paper. A cement company owning its own clinker source is a real cost advantage. What would change my mind is the independent valuer's report. If that report undervalues Shiva Cement's clinker asset against its replacement cost, minority shareholders have grounds to object. That could stretch the 12 to 14 month timeline well past what management is projecting. My stance: the operational case is sound. The swap ratio fairness decides whether this closes on schedule. Watching for the valuer's report and any shareholder objections once this goes to NCLT. I do not hold JSW Cement Limited or Shiva Cement Limited at the time of writing.

Sunil Kotak

1 Oct • 8:55 AM · SEBI-Registered Analyst

JSW Cement announces merger with Shiva Cement

JSW Cement announces merger with its listed subsidiary Shiva Cement SEBI RA – Shubh Consultancy – Sunil Kotak – INH000015826

JSWCEMENT

JSW Cement on Wednesday announced a scheme of arrangement involving the merger of its listed subsidiary Shiva Cement with itself, aimed at creating a single unified cement platform. Under the proposed scheme, JSW Cement will issue five equity shares of face value ₹10 each for every 41 equity shares of face value ₹2 each held in Shiva Cement by shareholders other than JSW Cement. The boards of both companies have approved the scheme, which is subject to approvals from the stock exchanges, the Securities and Exchange Board of India (Sebi), the National Company Law Tribunal (NCLT), Odisha Industrial Infrastructure Development Corporation, other applicable statutory and regulatory authorities, and shareholders and creditors, as required. The transaction is expected to be completed within 12-14 months, subject to receipt of the necessary approvals. JSW Cement said the merger would help consolidate financial, managerial, technical, distribution and marketing resources, while reducing administrative duplication and compliance requirements. All this is for information. This is not a buy/sell recommendation. Thank you, Technofunda24

Ujvin Nevatia

30 Sep • 7:36 PM · SEBI-Registered Analyst

JSW Cement to merge with subsidiary Shiva Cement

Research Analyst: UJVIN NEVATIA (PROPRIETOR: NEVAT INVESTMENTS) | SEBI Registration No.: INH100009628 JSW Cement Limited (

JSWCEMENT

) has approved a scheme to merge its 66.23%-owned listed subsidiary Shiva Cement Limited with itself. Public shareholders of Shiva Cement will receive 5 JSW Cement shares for every 41 Shiva Cement shares held. What happened? The merger will consolidate Shiva Cement into JSW Cement without any cash consideration. The transaction is subject to approvals from stock exchanges, SEBI, NCLT and other authorities as well as shareholders and creditors. The transaction is expected to be completed within 12–14 months, subject to timely approvals. Why does it matter? Shiva Cement operates a 1.32 million tonne per annum clinker facility in Odisha. Integrating this capacity can strengthen JSW Cement's backward integration and reduce dependence on external clinker procurement. The merger can also reduce administrative duplication and simplify the group's corporate structure. My view The strategic rationale is clear, but the benefits will depend on actual operating and financial synergies after integration. The 5:41 share-swap ratio also means existing JSW Cement shareholders will see some dilution as new shares are issued to Shiva Cement's public shareholders. The key question is whether the additional ownership of Shiva Cement's assets and the expected cost efficiencies justify that dilution over time. What I am watching next I would track regulatory approvals, the merger timeline and post-merger clinker utilisation. Changes in procurement costs, operating margins and financing costs will indicate whether the proposed integration delivers measurable benefits. No Recommendations Source: The Hindu / JSW Cement exchange disclosure Disclosure: I hold a long position in JSW Cement Limited.

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