India’s JSW Cement (JSWC.NS) reported a profit in the second quarter of 2025, buoyed by higher sales volumes and improved cement prices, even during a seasonally weak period for construction activity. The announcement, made on November 7, 2025, underscores the company’s ability to capitalize on price recovery and steady demand despite the slowdown typically caused by the annual monsoon season.

Quarterly Performance Highlights

For the July-September 2025 period, JSW Cement posted a consolidated net profit of 864.3 million Indian rupees ($9.8 million), a remarkable turnaround from a loss of 643.9 million rupees in the same quarter last year.

The company’s revenues surged more than 17% to 14.36 billion rupees, driven by a combination of higher cement prices and a 7% increase in dispatch volumes. Brokerage firm Ambit Research noted that cement prices rose an average of 5% during this period, reflecting a recovery from the lows experienced in 2024 when sluggish construction activity and delayed infrastructure projects, particularly after India’s general elections, weighed on the sector.

Market and Stock Performance

Following the results, JSW Cement shares closed 0.6% lower on Friday, although the stock remains around 17% below its August listing price. Market analysts suggest that while the stock has faced pressure since listing, the company’s consistent volume growth and price recovery are positive indicators for investors keeping a long-term view on India’s cement industry.

Industry Context and Peer Comparison

The cement sector in India has seen a gradual rebound after a challenging 2024. Larger peers such as UltraTech Cement (ULTC.NS) and Ambuja Cement (ABUJ.NS) also reported higher profits in the same quarter, benefiting from similar trends of rising prices and steady demand in both residential and infrastructure construction.

The performance of JSW Cement highlights resilience amid seasonal and macroeconomic headwinds, demonstrating the company’s ability to maintain profitability even during the monsoon season, traditionally a period of reduced construction activity.

Outlook

Industry analysts are optimistic about JSW Cement’s future growth, citing continued recovery in cement prices and robust infrastructure development plans across India. The combination of strategic pricing, operational efficiency, and market expansion is expected to support sustainable revenue growth and improved margins for the company in the upcoming quarters.