Shareholders meeting

Cement Limited JSW Centre Opp. MMRDA Ground, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051. Tel : +91-22-4286 1000 Fax : 26502001 Website : www.jswcement.in CIN :– L26957MH2006PLC160839 Date: 09.07.2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejebhoy Towers “Exchange Plaza” Dalal Street Bandra-Kurla Complex, Bandra (East) Mumbai - 400 001 Mumbai - 400051 Scrip Code (BSE): 544480 Symbol: JSWCEMENT Sub: Integrated Annual Report for the Financial Year 2025-26 including the Notice convening the 20th Annual General Meeting (AGM) Ref: Regulations 34(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) Dear Madam / Sir, This is with reference to our letter dated 1st July, 2026 informing that the 20th AGM of the Company is scheduled to be held on Friday, 31st July 2026 at 12:00 p.m. (IST) through Video Conferencing (VC) / Other Audio Visual Means (OAVM), in compliance with the provisions of the Companies Act, 2013 and the relevant circulars issued by the Ministry of Corporate Affairs in this regard. Pursuant to Regulations 34(1) of the Listing Regulations, please find attached the Integrated Annual Report of the Company for the Financial Year 2025-26, including the Notice of the 20th AGM of the Company. The Integrated Annual Report for the Financial Year 2025-26, along with the Notice of the 20th AGM, is being sent through electronic mode to the Members of the Company whose e-mail addresses are registered with the Company / Depository Participants (DPs). Further, in accordance with Regulations 36(1)(b) of the Listing Regulations, a letter providing the weblink, including the exact path to access the Integrated Annual Report for the financial year 2025-26 is being sent to those Members whose e- mail addresses are not registered. The Integrated Annual Report for the Financial Year 2025-26 including the Notice of the 20th AGM is uploaded on the website of the Company at the link: https://www.jswcement.in/annual-report and on the website of KFin Technologies Limited at www.kfintech.com. This is for your information and record. Thanking You, For JSW Cement Limited Sneha Bindra Company Secretary & Compliance Officer Wider Reach. Stronger Future. INTEGRATED ANNUAL REPORT 2025-26 Wider Reach. Stronger Future. India’s growth story is being built through This wider presence is matched by a sharper stronger infrastructure, expanding product and sustainability proposition. We continue to lead in GGBS, supported by an urbanisation, resilient housing demand estimated all-India market share of around 84%. and rising investments in sustainable Green cementitious products accounted for 80% of construction. This creates handful of our total volumes sold, while our carbon emission opportunities for cement companies intensity remained among the lowest in the Indian to scale while being environmentally cement industry. These strengths position us as a responsible. For us, FY 2025-26 differentiator for customers which are increasingly strengthened this direction. We expanded seeking durable, efficient and lower-carbon construction solutions. our capacity, entered new markets, deepened customer relationships and Our future will be shaped by disciplined reinforced our position as one of India’s expansion, efficient operations, renewable energy fastest-growing cement manufacturers. adoption, stronger utilisation and deeper customer engagement. We are scaling with discipline, Our growth is driven by the purpose of building growing with responsibility and building a A true visionary, a larger and more balanced footprint across the business that is aligned with India’s development country, supported by our international presence. priorities. As our footprint expands and our A legendary industrialist, The commencement of commercial operations at capabilities deepen, we move ahead with “Wider our Nagaur Integrated Unit marked our strategic Reach. Stronger Future.” A great philanthropist, entry into North India and opened a new phase of market expansion. Our current grinding capacity A legacy that will always be cherished! stands at 24.10 MTPA, supported by 9.74 MTPA of clinker capacity, while our long-term growth roadmap is aimed at building a stronger pan- India platform. 7th August 1930 - 31st March 2005 Founder and Visionary, O. P. Jindal Group His life was an inspirational journey leading millions to follow the enlightened path. We will always carry on his values, an epitome of indomitable courage, endurance and integrity, his legacy will always remain with us. As we take leaps towards the future, we are fully committed to honour his vision and keep his legacy alive & carrying it forward to greater heights. Strategic Governance Overview and Awards 42 Operating Environment 118 Governance 44 Sustainability Strategy 124 Awards and Recognition 46 Strategic Priorities 50 Value Creation Model 52 Stakeholder Engagement Statutory Leadership 56 Double Materiality Assessment Reports Overview 61 Risk Management Corporate 126 Management Discussion Overview 28 Chairman’s Letter and Analysis 32 MD’s Letter 143 Directors’ Report 36 CEO’s Letter 163 Corporate Governance 04 Our Approach to Reporting 192 Business Responsibility and 08 JSW Cement at a Glance Sustainability Report 10 Geographical Presence 12 Product Portfolio Financial 22 Investment Case Statements 233 Standalone Financials 326 Consolidated Financials Notice 416 Notice PAGE Annexures 425 Performance Trend Value Created 431 GCCA Sustainability KPIs 28 Across Capitals 432 Contribution to UNGC Principles 433 GRI Content Index PAGE 437 List of Abbreviations 68 Financial Capital 439 Key Performance Indicators 72 Manufactured Capital 441 Corporate Information 78 Intellectual Capital 90 Human Capital To read this report 96 Social and Relationship Capital PAGE online and for any other 102 Natural Capital information log on to jswcement.in JSW CEMENT LIMITED Integrated Report 2025-26 CORPORATE OVERVIEW OOuurr aapppprrooaacchh ttoo rreeppoorrttiinngg Our approach to reporting TARGET AUDIENCE ASSURANCE This is our primary report to our investors The non-financial information is assured by This is our fourth Integrated Report, prepared to provide a and contains information relevant to Bureau Veritas India Private Limited as third- transparent and comprehensive view of our ability to create value other stakeholders. party assurance provider. across the short, medium and long term. The report reflects our REPORTING CYCLE continued commitment to embed integrated thinking into our REPORTING FRAMEWORKS AND RESPONSIBILITY STATEMENT strategy, operations and disclosures. We present a clear and April 1, 2025, to March 31, 2026 STANDARDS The integrity of the information presented structured articulation of how we identify, measure and deliver This report follows globally recognised in this report has been assured by the value for our stakeholders. We aim to deepen understanding of frameworks and standards to ensure Company’s Board and Management, as our value creation model and the linkages between performance, consistent, credible and decision- Those Charged with Governance (TCWG). governance and long-term sustainability. useful disclosures. • Integrated Reporting Framework of the International Integrated Reporting Council (IIRC), now part of the SCOPE AND BOUNDARY IFRS Foundation This report covers our ten manufacturing facilities, our RMC, and construction chemical business. The non-financial disclosures included in • Global Reporting Initiative the Integrated Report span across eight of our current operating units in India including Shiva Cement and RMC business, which together (GRI) Standards Forward-looking statements account for over 95% of our total revenue. • United Nations Sustainable Certain statements in this report concerning Nandyal, Andhra Pradesh - Dolvi, Maharashtra - Jajpur, Odisha Salem, Tamil Nadu Development Goals [Showing first 8,000 characters — download PDF for full document]