JSWCEMENT

JSW Cement Ltd JSWC.NS:

• JSW CEMENT Q2 CONSOL TOTAL NET PROFIT 864.3 MILLION RUPEES

• JSW CEMENT Q2 CONSOL REVENUE FROM OPERATIONS 14.36 BILLION RUPEES

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Further company coverage: JSWC.NS

** India's JSW Cement JSWC.NS climbs as much as 2.7% to 142.64 rupees

** Jefferies starts coverage with "buy" stock rating and PT of 170 rupees

** Stock last up 0.7% at 139.78 rupees

** The cement maker, despite being a late entrant in the space, has scaled to being among top 10 players with a capacity and volume growth CAGR of 13-17% over FY15-25, says Jefferies

** Adds, JSWC is well positioned for a profitable scale-up as it leverages JSW group synergies for procuring raw materials from group companies JSW Steel JSTL.NS, JSW Energy JSWE.NS and JSW Infra JSWN.NS

** Estimates EBITDA to grow at a CAGR of 35% over FY25-28

** Stock down 4% since listing in mid-August

(Reporting by Kashish Tandon in Bengaluru)

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** "The cement sector could prove to be resilient in the upcoming earnings season," analysts at Goldman Sachs said in a note

** Costs remained largely stable in the quarter, says brokerage

** Adds, price hikes in April-June have corrected only marginally in the ongoing quarter, which came as "a positive surprise"

** This, combined with the tax cuts, is expected to drive a turnaround in volumes in September end

** The GST cuts will likely benefit cement companies' margins - GS

** Keeps "buy" rating on UltraTech Cement ULTC.NS, "neutral" on Shree Cement SHCM.NS, Dalmia Bharat DALB.NS, Ambuja Cements ABUJ.NS and JSW Cement JSWC.NS

** Retails "sell" on ACC ACC.NS

(Reporting by Manvi Pant in Bengaluru)

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Sept 2 (Reuters) - JSW Cement Ltd JSWC.NS:

• JUNE-QUARTER CONSOL NET LOSS 13.56 BILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 15.6 BILLION RUPEES

Source text: ID:nBSE77LblH

Further company coverage: JSWC.NS

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** Shares of JSW Cement JSWC.NS rise 4% to 156 rupees after Motilal Oswal initiates with "neutral" at PT of 163 rupees, says stock "fairly priced"

** Brokerage expects revenue to grow at a compounded rate of ~19% over FY25-28, driven by higher sales volume and pricing improvement; sees profit of 3 bln rupees in FY26

** JSWC leads production of ground granulated blast furnace slag (GGBS), which replaces cement in concrete and is made from leftover slag at JSW group's steel plants

** GGBS is more profitable than grey cement made by competitors, and is helping JSWC expand its market presence - Motilal

** Adds, use of IPO proceeds to expand into north India will reduce co's revenue dependency and capacity share on south India to 41% in FY28 from 53% in FY25

** JSWC up 6.8% since it listed on August 14

(Reporting by Urvi Dugar)

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Aug 14 (Reuters) - Shares of JSW Cement JSWC.NS debuted 4% higher on Thursday valuing the firm at $2.38 billion as investors looked past broader market jitters to back the company's capacity expansion plans and push into new regional markets.

The stock listed at 153.50 rupees on the National Stock Exchange, above its 147 rupees issue price and just above its targeted $2.3 billion. It was last up 2.7% at 151.06 rupees as of 10:21 a.m. IST.

India, the world's second-largest cement producer, is riding a robust sector outlook, with the government's infrastructure and housing push expected to power demand growth through the decade, while prices rebound from multi-year lows hit last fiscal year.

JSW Cement, with its seven plants in southern, eastern and western India, is a relatively smaller player in an industry dominated by companies such as Aditya Birla-owned UltraTech Cement ULTC.NS and Gautam Adani-backed Ambuja Cement ABUJ.NS.

The company will use proceeds from the IPO for setting up a factory in the limestone-rich state of Rajasthan, it said in its prospectus.

Ventura Securities said JSW Cement's capacity ramp-up will expand its reach and boost profits, while its ties to the JSW Group offer brand strength and easy access to raw materials like slag and power via group companies in steel JSTL.NS, energy JSWE.NS and marine infrastructure JSWN.NS.

JSW Group holds a nearly 70% stake in the cement maker.

The $413 million initial public offering was oversubscribed nearly eight times earlier this week, driven by institutional investors whose bids were nearly 16 times their allotted quota.

($1 = 87.4320 Indian rupees)

(Reporting by Hritam Mukherjee and Kashish Tandon in Bengaluru; Editing by Nivedita Bhattacharjee)

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