JK Cement's Q1 Net Profit Dips 29.5%

14 Aug 2023 , 03:33 PM

JK Cement shares witnessed a 5 % decline during morning trade on August 14, following the announcement of a 29.5 % YoY drop in consolidated net profit for the June quarter, amounting to Rs 114.7 crore.

Despite this, the stock has shown a 6.11 % growth year-to-date and has been in a consolidation phase since May 31. The stock’s trailing PE stands at 63.45x, the highest among its cement industry peers, highlighting its distinct market position.

Q1FY24 results, disclosed on August 12, revealed a 21.6 % YoY rise in revenue from operations, reaching Rs 2,762.6 crore. EBITDA for the same quarter experienced a marginal 0.3 % growth at Rs 407.8 crore, while EBITDA margins contracted by 310 basis points to 14.8 %.

JK Cement primarily engages in cement manufacturing, focusing on both grey and white cement variants. The company also produces other products like gypsum plaster, tile adhesives, wall putty, and wood finishes. The company operates across 10 production facilities in India and one in Fujairah, United Arab Emirates, reflecting its strategic geographical reach.

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