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ICICI Securities Report
JSW Cement is emerging as a force to reckon with given –
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it is a part of the growth-focussed JSW Group with plans to gain 10% market share (~1.6% in FY24) and become the fifth-largest player by year 2030 (as per FY23 annual report);
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as per DRHP, it –
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is undertaking greenfield/brownfield expansions plans to scale capacity to 40.85 million tonnes per annum (from 20.6 mtpa currently), thereby becoming a pan-India player;
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is already the fastest-growing cement company in India (having grown capacity/sales volumes at 14%/19% CAGR over FY14–24);
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is a leader in the ground granulated blast-furnace slag segment with 82.7% market share;
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has strategically-located plants that are well-connected to raw material sources and key consumption markets; and
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has the lowest carbon dioxide emission intensity among industry peers.
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JSW Cement DRHP Analysis – Leadership In The Fast-Growing GGBS Boosts Outlook: Systematix
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