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J K Cements Ltd

JKCEMENT
NSE
5,458.50
0.26%
Last Updated:
29 Apr '26, 4:00 PM
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J K Cements Ltd

JKCEMENT
NSE
5,458.50
0.26%
29 Apr '26, 4:00 PM
Company Overview
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6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
42,177Cr
Close
Close Price
5,458.50
Industry
Industry
Cement
PE
Price To Earnings
41.35
PS
Price To Sales
3.14
Revenue
Revenue
13,416Cr
Rev Gr TTM
Revenue Growth TTM
17.65%
PAT Gr TTM
PAT Growth TTM
39.41%
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JKCEMENT
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Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
2,7782,7632,7532,9353,1062,8082,5602,9303,5813,3533,0193,463
Growth YoY
Revenue Growth YoY%
18.121.623.620.511.81.6-7.0-0.215.319.417.918.2
Expenses
ExpensesCr
2,4282,3552,2862,3102,5462,3212,2762,4382,8162,6652,5732,906
Operating Profit
Operating ProfitCr
350408467625560486284492765688447558
OPM
OPM%
12.614.817.021.318.017.311.116.821.420.514.816.1
Other Income
Other IncomeCr
38172938554514045465651-2
Interest Expense
Interest ExpenseCr
101109115114115111123112113109105113
Depreciation
DepreciationCr
132135141140153147146146162146149175
PBT
PBTCr
155181241409347273155279535489243268
Tax
TaxCr
4767651251288819891741658495
PAT
PATCr
107113176284220185136190361324159174
Growth YoY
PAT Growth YoY%
-46.2-29.458.3663.7104.762.9-22.5-33.164.575.417.0-8.6
NPM
NPM%
3.94.16.49.77.16.65.36.510.19.75.35.0
EPS
EPS
14.514.823.136.728.424.016.324.546.642.020.822.6

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
3,4073,7864,6544,8545,2595,8026,6067,9919,72011,55611,87913,416
Growth
Revenue Growth%
11.122.94.38.310.313.921.021.618.92.812.9
Expenses
ExpensesCr
2,9573,2393,9284,0664,4244,5885,0676,5088,4069,4969,85210,959
Operating Profit
Operating ProfitCr
4515467267878341,2131,5391,4821,3142,0602,0272,457
OPM
OPM%
13.214.415.616.215.920.923.318.613.517.817.118.3
Other Income
Other IncomeCr
695079111808511314387140276151
Interest Expense
Interest ExpenseCr
229305303284261276253270312453459440
Depreciation
DepreciationCr
146197217231241288306342462573601633
PBT
PBTCr
144942863834127341,0931,0136281,1741,2421,535
Tax
TaxCr
23911498149251390334211384370517
PAT
PATCr
142551722862644837036794167908721,018
Growth
PAT Growth%
-61.4213.666.1-7.783.445.5-3.4-38.789.710.416.8
NPM
NPM%
4.21.43.75.95.08.310.68.54.36.87.37.6
EPS
EPS
20.58.325.441.436.762.691.087.955.2102.3111.4132.0

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
707070707777777777777777
Reserves
ReservesCr
1,5471,5171,6411,9052,6252,9503,6594,2484,6075,2906,0126,404
Current Liabilities
Current LiabilitiesCr
1,2761,2841,2811,3101,6101,8251,9572,6702,9473,4003,9084,328
Non Current Liabilities
Non Current LiabilitiesCr
3,1453,3043,4153,1723,1083,7104,2044,4425,7206,0806,7187,022
Total Liabilities
Total LiabilitiesCr
6,0506,1856,4116,4567,4138,5429,87211,40313,30714,80216,68217,889
Current Assets
Current AssetsCr
1,4781,3271,4791,6842,0452,2353,1833,5253,7384,4164,9935,377
Non Current Assets
Non Current AssetsCr
4,5724,8584,9324,7725,3676,3076,6897,8789,56910,38611,68912,512
Total Assets
Total AssetsCr
6,0506,1856,4116,4567,4138,5429,87211,40313,30714,80216,68217,889

Cash Flow

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
2565807728837041,3671,5938781,3771,9591,939
Investing Cash Flow
Investing Cash FlowCr
-478-408-649-96-802-1,477-1,347-996-2,015-1,636-1,910
Financing Cash Flow
Financing Cash FlowCr
230-193-346-723173-108-13762741-41674
Net Cash Flow
Net Cash FlowCr
8-21-2236574-218109-56104-92104
Free Cash Flow
Free Cash FlowCr
-29119938873973124834-649-226792241
CFO To PAT
CFO To PAT%
180.51,057.8448.8309.2267.0282.8226.6129.3330.8248.0222.4
CFO To EBITDA
CFO To EBITDA%
56.9106.2106.3112.284.3112.6103.659.3104.895.195.7

Ratios

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
4,6694,6976,5407,1096,6537,26022,36218,78722,58731,50138,109
Price To Earnings
Price To Earnings
33.890.036.824.624.614.631.527.353.339.844.3
Price To Sales
Price To Sales
1.41.11.61.51.31.33.42.42.32.73.2
Price To Book
Price To Book
2.93.03.83.62.52.46.04.34.85.96.3
EV To EBITDA
EV To EBITDA
16.213.612.711.810.68.016.115.220.617.621.1
Profitability Ratios
Profitability Ratios
GPM
GPM%
83.281.684.983.583.285.083.883.983.684.183.0
OPM
OPM%
13.214.415.616.215.920.923.318.613.517.817.1
NPM
NPM%
4.21.43.75.95.08.310.68.54.36.87.3
ROCE
ROCE%
8.08.512.214.212.516.518.315.29.414.914.0
ROE
ROE%
8.83.510.114.59.816.018.815.78.914.714.3
ROA
ROA%
2.40.92.74.43.65.77.16.03.15.35.2
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** J K Cements Ltd. is a leading Indian cement and building materials company with over 50 years of heritage, part of the prestigious J.K. Organisation. The company is recognized as a top-five cement producer in India and a global leader in white cement, ranking among the top five worldwide. With a diversified portfolio spanning grey cement, white cement, wall putty, tile adhesives, grouts, paints, and construction chemicals, JK Cement is strategically evolving into a holistic building solutions provider. The company’s operations span across 22 Indian states and union territories, and its products are exported to 38 international markets, including the USA, UAE, Australia, South Africa, and Southeast Asia. Its white cement plant in Gotan, Rajasthan, established in 1984, was India’s first dry-process, limestone-based facility, marking the beginning of technological leadership that continues today. --- ### **Production & Capacity (As of Nov 2025)** - **Installed Grey Cement Capacity:** 24.34 million tonnes per annum (MnTPA), including Toshali Cement. - **White Cement Capacity:** 1.72 MnTPA (India and UAE combined). - **Wall Putty Capacity:** 1.3 MnTPA (Gotan, Rajasthan + Katni, Madhya Pradesh), including India’s largest plant at Katni. - **Operational Capacity:** 600–650 tons per day at current facilities, with expansion potential to 850–900 tons per day, backed by sufficient limestone reserves. #### **Expansion Strategy** - **Near-Term Goal:** Achieve **30 MnTPA** of total cement capacity by **FY 2025–26**. - **Long-Term Target:** Expand to **50 MnTPA** by **2030** through a mix of greenfield and brownfield projects, contingent on secured limestone reserves. - **Key Growth Corridors:** - **Panna, MP:** Clinker capacity to scale to **7.3 million tonnes** post-expansion; includes a planned 3.3 MnTPA clinker Line-2. - **Prayagraj & Hamirpur (UP):** Brownfield expansions and new grinding units. - **Buxar (Bihar):** New 3 MnTPA grey cement grinding unit (investment > ₹500 crores), strengthening presence in Eastern India. - **Jaisalmer (Rajasthan), Muddapur (Karnataka), Odisha:** Greenfield projects under finalization. - **Saifco Cements (Jammu & Kashmir):** Strategic acquisition of 60% stake granting 129 million tonnes of limestone reserves and first cement manufacturing footprint in J&K. - **Wall Putty Expansion:** A new **6 lakh MTPA unit** near Nathdwara, Rajasthan, to be commissioned by **FY27**, with an investment of ₹195 crores, driven by a projected 9% CAGR in the wall putty market. --- ### **Manufacturing Footprint** **Integrated Plants:** - Nimbahera, Mangrol, Gotan (Rajasthan) - Muddapur (Karnataka) - Panna, Ujjain, Katni (Madhya Pradesh) - Ampavalli (Odisha – Toshali Cement) **Grinding Units:** - Jharti/Jharli (Haryana), Balasinor (Gujarat), Aligarh, Prayagraj, Hamirpur (UP), Choudwar (Cuttack, Odisha) **White Cement & Value-Added Products:** - Gotan (Rajasthan): Integrated white cement plant and wall putty facility. - Fujairah (UAE): Dual-process plant (0.6 MnTPA white / 1.0 MnTPA grey cement). - Katni (MP): Wall putty and construction chemicals. **Paints & Coatings:** - Bhiwadi, Rajasthan (Acro Paints facilities – post-expansion capacity: 60,000 KL decorative paints, 6,700 KL chemicals). - Mathura, UP: New integrated paints facility under development. --- ### **Strategic Growth Initiatives** #### **1. Market Expansion & Regional Synergy** - **Eastern India Push:** Entry into Bihar and Odisha with grey cement; Buxar plant to serve as a regional hub. - **Digital Integration:** Merger of operations to pool financial, marketing, distribution, and technical resources for greater efficiency. - **Dealer Network:** Over **100,000 dealers** supported by digital platforms, training, incentive schemes, and tools like *JK e-Connect*. #### **2. Sustainability & Decarbonization** - **Carbon Capture & Utilisation (CCU):** Partnering with **NCCBM** and **IIT Roorkee** on a government-supported pilot project to install a **2.0 tonnes/day oxyfuel-based calciner** for CO₂ capture at Gotan. Captured CO₂ will be used to manufacture lightweight concrete — a first in India’s cement sector. - **Low-Carbon Cement Development:** - **LC3 Cement (Portugal Calcined Clay Limestone Cement)** with up to **35% lower CO₂ emissions**, developed in collaboration with **IIT Delhi**. - PLC (Portland Limestone Cement) using high-magnesia and low-grade limestone. - **Energy Efficiency:** - **184 MW** of green power (solar, wind, WHR). - **77.5 MW** captive coal-based power. - Waste Heat Recovery (WHR) systems at Nimbahera, Mangrol, and Muddapur; planned expansion to Panna and Muddapur. - Biomass substitution for HAG in Gujarat’s Balasinor plant to cut fossil fuel use. #### **3. Digital Transformation** - **JKONE Platform:** Unified **Sales Force Automation (SFA)** and **Distributor Management System (DMS)** for White Cement & Paints. - Streamlines order management, improves inventory and logistics efficiency. - Offers intelligent route planning, performance analytics, and real-time data visibility. - **Dealer Network App (DNA):** Enables self-service inventory, sales, finance, and performance tracking. - **BuildXpert App:** Consumer-facing tool for construction planning and material estimation. - **Cybersecurity:** Upgraded with 97% risk coverage via cyber insurance, privileged access management, and 90% reduction in phishing vulnerability. #### **4. Product Innovation & Diversification** - **Specialty Cement:** - **Super Grade OPC 53** for critical infrastructure (metros, bullet trains). - **JK Super Strong Weather Shield Cement** with particle-level water repellency. - **JK Super Strong Concrete Special:** 50% higher strength, 10% cement saving. - **Value-Added Products:** - **JKWallmaxX / SmoothmaxX:** Premium wall putty with high adhesion and whiteness. - **TilemaxX / GypsoMaxX / RepairmaxX:** Building chemicals and finishes. - **Wood Amore:** Premium wood finish (2,000+ colors) developed with Sivam Coatings, Italy. - **ShieldmaxX:** Weather-resistant coatings. - **Paints Business (JK Maxx Paints):** - Revenue crossed ₹400 crores within two years. - Expanding across North India; targeting ₹1,200–1,500 crores by FY26. - Premium interior emulsions with 8-year color warranty and luxury pearl-finish variants. --- ### **Sustainability & ESG Commitments** - **SBTi-Aligned Targets:** - Reduce **Scope 1 emissions** to **465 kg CO₂/tonne** (from FY 2019–20 baseline). - Increase **green power usage** to **75%** of energy mix. - Achieve **35% thermal substitution rate** using alternative fuels. - Become **five times water positive**. - **Science-Based Targets Initiative (SBTi)** signatory; also adheres to **TCFD**. - Conducting **Life Cycle Assessments (LCA)** for white cement and value-added products. --- ### **Strategic Acquisitions & Partnerships** - **Saifco Cements (J&K):** 60% stake acquisition for entry into Jammu & Kashmir; 129 million tonnes limestone reserves; 100% GST/SGST exemption until 2031 (~₹800–900/ton savings). - **Toshali Cements (Odisha):** Fully acquired integrated plant and grinding unit, adding 0.6 MnTPA and enabling expansion into Eastern India. - **Acro Paints:** Acquired 60% stake (₹153 crores), later targeting full ownership. Brought 3,000+ SKUs and debt-free operations into JK’s ecosystem. - **MoU with IIT Kanpur:** ₹60 crores committed to build a Super Specialty Hospital and support futuristic medical research. - **Collaboration with IIT Roorkee, IIT Delhi:** Driving R&D in carbon capture, low-carbon cement, and alternate fuels. --- ### **Leadership & Governance** - **MD & CEO:** Mr. Madhavkrishna Singhania – credited with scaling grey cement capacity from **7.5 MnTPA (2010)** to **over 24 MnTPA (2025)**. - **Digital HR:** Launched **Tia**, an AI-powered HR assistant using Generative AI for policy queries, leave, attendance, and claims. ---