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JSW Cement Ltd (JSWCEMENT) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of JSW Cement Ltd ₹41.80, price ₹112, upside -62.5%, quality 28 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Basic Materials · IN

JC Some data Oct 1, 2026

JSW Cement Ltd

JSWCEMENT · NSE

Weakest SetupStrongly overvalued and low quality.

!Fair value ₹41.80 · Strongly overvalued (−62.5%)
!Quality 28/100
!Expensive Growth (revenue 5y +11.0 %/yr)
✓Solidly profitable · 10.9% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (4/13)
!Narrow moat 32/100
!Evidence only medium, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

₹158.58 ₹107.62 Fair Value ₹41.80 Aug 2025 Oct 2026

White line = price, green steps = our fair value per fiscal year. As of Oct 1, 2026.

How to read this chart

14‑month range ₹107.62 – ₹158.58 · fair‑value band ₹34.46 – ₹47.65 · the ₹111.60 price screens above the ₹41.80 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 1, 2026.

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Company profile

JSW Cement Limited manufactures and sells cement and cement-related products under the JSW Cement brand in India. The company offers Portland slag, ordinary Portland, composite, environment-friendly, Portland pozzolana, and water-repellant cement products.

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JSW Cement Limited manufactures and sells cement and cement-related products under the JSW Cement brand in India. The company offers Portland slag, ordinary Portland, composite, environment-friendly, Portland pozzolana, and water-repellant cement products. It also provides construction chemicals comprising precision steel grouts, mortars, and waterproofing compounds, as well as tile adhesives, grouts, and cleaners; cementitious materials, including ground granulated blast furnace slag (GGBS) and microfine GGBS; aggregates consisting of screened slag; ready-mix concrete under the JSW Concrete brand; and clinkers. In addition, the company offers concrete laboratory testing services. It sells its products through a network of dealers and sub-dealers, as well as warehouses. The company was incorporated in 2006 and is headquartered in Mumbai, India. JSW Cement Limited is a subsidiary of Adarsh Advisory Services Private Limited.

Stock analysis

JSW Cement Ltd (JSWCEMENT) currently trades at ₹111.60, while our model-based Fair Value estimate is ₹41.80, 62.5% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of ₹72.26 per share, and 0 of the 6 models we run sit above the ₹111.60 price.

Bear case: the Asset-Based group reads lowest at ₹32.50, and 6 of the 6 models stay below the price. Evidence for this calculation is medium.

Scenario range: ₹34.46 (bear) to ₹47.65 (bull), the price of ₹111.60 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 28/100 (below-average quality), in the Basic Materials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

JSW Cement Ltd reported revenue of ₹65.1B in FY2026 versus ₹45.7B in FY2022, a compound +9.3%/yr. Reported net income was −₹7.6B in FY2026.

Key figures

Market cap ₹151B (≈ $1.6B) · P/E ratio 19.8 · P/S ratio 2.15 · EPS (TTM) ₹5.63 · Net margin −11.6% · Return on equity −18.0% · Return on assets (EBIT) 5.5% · Operating margin 10.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 22% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −46% fair-value upside, at −63%, JSWCEMENT screens richer than that median.

Fair Value models

Bear ₹34.46 Fair Value ₹41.80 Bull ₹47.65
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹2.85 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
EPV ₹29.36 ₹36.04 ₹41.60 74
ROIC Compounder ₹29.36 ₹36.04 ₹41.60 72
EV/EBITDA ₹49.30 ₹72.26 ₹95.22 66
All 6 models by family
Earnings-Based
EPV ₹29.36 ₹36.04 ₹41.60 74
Multiples
EV/EBIT ₹51.80 ₹75.59 ₹99.39 65
EV/EBITDA ₹49.30 ₹72.26 ₹95.22 66
EV/Revenue ₹31.05 ₹52.75 ₹74.46 52
Asset-Based
NCAV (Graham) ₹24.25 ₹32.50 ₹48.51 54
Economic Profit
ROIC Compounder ₹29.36 ₹36.04 ₹41.60 72

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Quality Score breakdown

Overall quality 28/100

Of which business quality 30 · Market factors (momentum, volatility) 36

Profitability 17
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 22
Earnings quality: real cash, not paper profit
Fin. Strength 38
Balance sheet, leverage, solvency risk
Investment 13
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 12
Distance to the 52-week high (market factor)
Net Issuance 50
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 50/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+14.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.0%
Start year 2021 (pandemic). Over 10 years: +17.7% a year
Revenue growth 10 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.7%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
10.0% (2022) → 9.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

JSWCEMENT screens overvalued: fair value 63% below the price. Compare with CRH plc →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Building Materials · 248 stocks

Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 28 · Bottom 25%
Fair Value upside −62.5% · Bottom 25%
Profitability
Return on assets 5.1% · Top 25%
Net margin (TTM) 10.9% · Top 25%
Operating margin (TTM) 10.6% · Above median
Growth and dividend
Revenue growth 19.9% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Balance sheet
Debt / equity 0.47× · Highest 25%

Valuation Multiplesvs Building Materials median · lower = cheaper

P/E (TTM) 19.8× · Pricier than median
P/B 2.30× · Priciest 25%
P/S (TTM) 2.15× · Priciest 25%
EV/EBITDA 13.5× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 26
FUTURE (revenue growth)100 · sector 6
PAST (return on equity)0 · sector 17
HEALTH (low debt)76 · sector 92
DIVIDEND (yield)0 · sector 47

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Building Materials stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
CRH plc CRH $85.04 $74.79 −12%
Holcim AG HOLN CHF 64.66 CHF 33.08 −49%
Martin Marietta Materials, Inc MLM $484.30 $207.85 −57%
UltraTech Cement Limited ULTRACEMCO ₹11,155 ₹4,719 −58%
Vulcan Materials Company VMC $245.00 $131.66 −46%
China Jushi Co 600176 ¥43.06 ¥28.26 −34%
Grasim Industries Limited GRASIM ₹3,191 ₹1,245 −61%
Amrize AG AMRZ $38.22 $35.08 −8%
James Hardie Industries plc JHX A$36.98 A$8.06 −78%
Anhui Conch Cement Company 600585 ¥17.51 ¥28.02 +60%

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JSW Cement Ltd · Fair Value
₹41.80 −63%Fair Value
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Cite: Fair Value Calculator (2026). "JSW Cement Ltd Fair Value". https://www.fairvalue-calculator.com/stock/JSWCEMENT

Frequently asked questions

Is JSW Cement Ltd (JSWCEMENT) overvalued or undervalued?
As of Oct 1, 2026, our model estimates a fair value of ₹41.80 versus a price of ₹111.60, about −63% upside (overvalued).
What is the fair value of JSWCEMENT?
Our model-based fair value for JSW Cement Ltd is ₹41.80 (as of Oct 1, 2026), built from audited fundamentals. The current price: ₹111.60.
What is the quality score of JSWCEMENT?
JSW Cement Ltd has a Quality Score of 28/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for JSW Cement Ltd (JSWCEMENT)?
Our model-based price target is the fair value of ₹41.80 (as of Oct 1, 2026) from 6 valuation models. Cautious scenario ₹34.46, optimistic scenario ₹47.65. It is a calculation from audited fundamentals, not an analyst target.
What is the JSW Cement Ltd stock forecast for 2026?
Our models put fair value at ₹41.80, about −63% upside versus a price of ₹111.60 (overvalued). Cautious scenario ₹34.46, optimistic scenario ₹47.65. The calculation is refreshed regularly with new filings.
What is the revenue of JSW Cement Ltd (JSWCEMENT)?
JSW Cement Ltd reported trailing-twelve-month revenue of about ₹70.0B (latest available figure, as of Oct 1, 2026).
What is the intrinsic value of JSW Cement Ltd (JSWCEMENT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For JSW Cement Ltd it is ₹41.80 per share (as of Oct 1, 2026), against a price of ₹111.60. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is JSW Cement Ltd stock overvalued or undervalued in 2026?
As of Oct 1, 2026, JSWCEMENT trades above its calculated fair value: price ₹111.60, fair value ₹41.80, a gap of about −63% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of JSWCEMENT?
No. The price is what the market pays today (₹111.60); the fair value is what the company's own numbers justify (₹41.80). For JSW Cement Ltd the two are ₹69.80 per share apart. That gap is exactly why we show both numbers side by side.
How much is JSW Cement Ltd worth?
The market values JSW Cement Ltd at about ₹151B (market capitalisation, as of Oct 1, 2026). Per share that is ₹111.60; our models calculate a fair value of ₹41.80 per share.
What do the bullish and bearish scenarios say about JSWCEMENT?
Our models span a range for JSW Cement Ltd: cautious scenario ₹34.46, base ₹41.80, optimistic ₹47.65 per share (as of Oct 1, 2026, price ₹111.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of JSWCEMENT?
JSW Cement Ltd trades at a price-to-earnings ratio of 19.8 (as of Oct 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹41.80 is built from several models across several years. Other multiples: P/B 2.3, P/S 2.2, EV/EBITDA 13.5.
How solid is the balance sheet of JSW Cement Ltd (JSWCEMENT)?
Balance-sheet figures for JSW Cement Ltd (as of Oct 1, 2026): return on equity −18.0%, debt of 0.47 per unit of equity. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is JSWCEMENT from its 52-week high?
JSW Cement Ltd trades at ₹111.60, about 22% below its 52-week high of ₹142.29 and 4% above the low of ₹107.62 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹41.80 is for.
Which stocks are comparable to JSW Cement Ltd?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Martin Marietta Materials, Inc, UltraTech Cement Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is JSW Cement Ltd stock attractive at the current price?
The data as of Oct 1, 2026: price ₹111.60, calculated fair value ₹41.80 (−63%), Quality Score 28/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of JSWCEMENT calculated?
We run JSW Cement Ltd through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹41.80, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. JSW Cement Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of JSW Cement Ltd (JSWCEMENT)?
The closing price on Oct 1, 2026 was ₹111.60. Our model-based fair value is ₹41.80, about −63% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with JSW Cement Ltd right now?
The price sits above even our optimistic bull case (₹47.65). The favourable scenario is already priced in. Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts.

Key figures of JSW Cement Ltd

How large is the market capitalisation of JSW Cement Ltd (JSWCEMENT)?
The market capitalisation of JSW Cement Ltd is ₹151B (≈ $1.6B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of JSW Cement Ltd (JSWCEMENT)?
The price-to-sales ratio of JSW Cement Ltd is 2.15 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of JSW Cement Ltd (JSWCEMENT)?
Earnings per share at JSW Cement Ltd are ₹5.63 (price ÷ EPS = P/E 19.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of JSW Cement Ltd (JSWCEMENT)?
The net margin of JSW Cement Ltd is −11.6% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of JSW Cement Ltd (JSWCEMENT)?
The return on equity (ROE) of JSW Cement Ltd is −18.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of JSW Cement Ltd (JSWCEMENT)?
On an EBIT basis the return on assets of JSW Cement Ltd is 5.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of JSW Cement Ltd (JSWCEMENT)?
The operating margin of JSW Cement Ltd is 10.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at JSW Cement Ltd (JSWCEMENT)?
Revenue at JSW Cement Ltd is growing +19.9% versus a year earlier (3y avg +4.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at JSW Cement Ltd (JSWCEMENT)?
Earnings per share at JSW Cement Ltd are growing +696% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does JSW Cement Ltd (JSWCEMENT) generate?
The free cash flow of JSW Cement Ltd is −₹7.9B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does JSW Cement Ltd (JSWCEMENT) carry?
The net debt of JSW Cement Ltd is ₹40.2B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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