The company has undertaken a simultaneous expansion of projects at Shiva Cement in Odisha, where it holds a 59% stake, and for group-level projects at JSW Cement.



Parth Jindal, MD of JSW Cement, spoke to Vikas Srivastava about the company’s proposed IPO and plans to raise equity capital of $200 million to fund a Rs 3,600-crore expansion. The company has undertaken a simultaneous expansion of projects at Shiva Cement in Odisha, where it hold 59% stake, and for group-level projects at JSW Cement

Despite the Covid restrictions and other supply chain bottlenecks, the company has undertaken a two-phased expansion over the next two years. What is your outlook for the company in terms of volumes and revenues?

For the first half of FY21, the cement demand de-grew 29% year on year but in the second half we expect the demand to grow at 10%, so for the full year the demand is likely to de-grow by around 7%. As far as JSW Cement is concerned, we were also affected by the slowdown and our volumes de-grew 17% on year in the first half. However, for full FY21 we are targeting to see a 20% (YoY) growth in volumes and revenues. For FY20, our revenues stood at Rs 3,000 crore, which we expect to grow to Rs 3,600 crore in FY21. We have surplus volumes from March that we are selling now.