JSW Cement , a key player in India's cement industry, has delivered strong performance in Q2, with significant improvements across key financial metrics.

Financial Highlights

*All financial figures in ₹ crore

Revenue and Volume Growth

JSW Cement's consolidated revenue rose 17.4% year-on-year to ₹1,436.43 crore. This growth was supported by a 15% increase in sales volumes, which reached 3.11 million tonnes during the quarter.

Profit Turnaround

The company demonstrated a reversal in its financial performance, swinging to a net profit of ₹75.36 crore from a net loss of ₹75.82 crore in the same period last year.

Operational Efficiency

Adjusted EBITDA jumped 114% to ₹267.52 crore, with the EBITDA margin improving to 18.62% from 13.2% year-on-year. However, the margin decreased from 20.68% in the previous quarter due to lower realizations.

Cost Management

Raw material costs declined due to reduced slag purchases from third-party suppliers, contributing to the improved profitability.

Debt Reduction

Net debt decreased to ₹3,231 crore from ₹4,566 crore, primarily due to IPO proceeds, indicating improved financial health.

Expansion Plans

JSW Cement's Nagaur integrated unit with 3.5 mtpa capacity is on track for commissioning by early Q4 FY26. The company aims for a pan-India presence with 41.85 mtpa grinding capacity and targets 34 mtpa by 2028.

Stock Performance

As the three-month shareholder lock-in period ends, about 3.67 crore shares representing 3% of outstanding equity become eligible for trading. Currently, shares trade at ₹128, below the IPO issue price of ₹147, with the stock hitting a post-listing low of ₹125.07.

Despite the quarterly performance, the stock's current trading price below the IPO price suggests that market sentiment may be influenced by factors beyond the company's operational improvements.

In a significant development for the Indian stock market, three companies - JSW Cement , All Time Plastics, and Fusion Finance - have seen their shareholder lock-in periods come to an end on November 10. This event has freed up shares worth a total of ₹821 crore, potentially impacting trading dynamics for these stocks.

Company-wise Breakdown

Key Highlights

JSW Cement

• The company's three-month lock-in period ended, releasing 3% of its outstanding equity.
• The stock is currently trading below its IPO price of ₹147.00, hitting a post-listing low of ₹125.07.

All Time Plastics

• 22 lakh shares (3% of outstanding equity) worth ₹67.00 lakh are now available for trading.
• The stock is performing well, trading at ₹305.00, which is 10.9% above its IPO price of ₹275.00.
• The stock has gained 12% in the past month.

Fusion Finance

• The most significant release came from Fusion Finance, with 2.01 crore shares (20% of outstanding equity) worth ₹350.00 crore becoming available after an 18-month lock-in period.
• The stock is currently trading 52% below its IPO price of ₹368.00.

Market Implications

The end of these lock-in periods introduces a substantial number of shares into the market, which could potentially impact the trading volumes and prices of these stocks. Investors and market watchers will be keenly observing how this influx of tradable shares affects the market dynamics for these companies.

It's noteworthy that two out of the three companies - JSW Cement and Fusion Finance - are currently trading below their respective IPO prices. This underperformance might be a concern for investors who participated in their initial public offerings.

As always, investors are advised to conduct thorough research and consider their risk tolerance before making any investment decisions based on these developments.