JK Cement Q4 PAT declines 6.8% YoY to Rs 201 cr; plans to raise Rs 500 cr through NCDs

23 May 2022 , 10:59 AM

Consolidated net sales stood at Rs 2,351.16 crore in Q4 FY22, rising 10.2% year on year from Rs 2,134.15 crore in Q4 FY21. Profit before tax tumbled 22.7% to Rs 262.46 crore in Q4 FY22 from Rs 339.44 crore recorded Q4 FY21. The company reported a 16.4% rise in total expenditure to Rs 1,967.17 crore in Q4 FY22 over Q4 FY21. Finance costs rose by 22.7% to Rs 72.57 crore while power and fuel expense surged 39.22% to Rs 524.26 in Q4 FY22 over Q4 FY21. On the margins front, the companys operating margin declined to 16.09% in Q4 FY22 from 20.82% posted in Q4 FY21. Net profit margin stood at 8.10% in Q4 FY22 as against 9.88% recorded in Q4 FY21. On full year basis, the company recorded 3.2% decline in net profit to Rs 687.12 crore on a 21% rise in net sales to Rs 7,990.82 crore in FY22 over FY21. Meanwhile, the board of directors of the company recommended a dividend of Rs 15 per equity share, for the financial year ended 31 March 2022. In a separate filing, the cement maker said it plans to raise funds upto Rs 500 crore by issue of secured/redeemable non-convertible debentures (NCDs) in one or more series/tranches on private placement basis. The companys board has recommended a proposal in this regard for approval of shareholders in the upcoming AGM. The fundraising will be at an interest rate that will be determined by the prevailing money market conditions at the time of borrowing, the company said in a stock exchange filing. Shares of JK Cement were trading 0.68% up to Rs 2467.10 on the BSE. JK Cement is engaged in manufacturing cement and cement products. Powered by Capital Market – Live News