Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹6,226Cr
Rev Gr TTM
Revenue Growth TTM
5.94%
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | 13.9 | 7.2 | 10.5 | -2.6 | -2.2 | -9.2 | -10.7 | 5.3 | 1.8 | 9.0 | 13.1 | 1.3 |
| 1,965 | 1,791 | 1,745 | 1,595 | 1,955 | 1,631 | 1,594 | 1,768 | 1,915 | 1,753 | 1,669 | 1,704 |
Operating Profit Operating ProfitCr |
| 7.0 | 7.8 | 5.0 | 7.7 | 5.4 | 7.5 | 2.8 | 2.9 | 8.9 | 8.8 | 10.0 | 7.6 |
Other Income Other IncomeCr | 13 | 17 | 260 | 6 | 9 | 18 | 17 | 91 | 167 | 11 | 14 | 118 |
Interest Expense Interest ExpenseCr | 50 | 48 | 44 | 49 | 51 | 55 | 57 | 56 | 55 | 46 | 44 | 46 |
Depreciation DepreciationCr | 105 | 93 | 95 | 99 | 126 | 112 | 118 | 121 | 133 | 136 | 140 | 133 |
| 6 | 27 | 214 | -9 | -58 | -16 | -112 | -34 | 166 | -3 | 16 | 79 |
| 2 | 7 | 30 | 3 | -27 | 2 | -8 | -80 | 45 | 3 | 15 | 29 |
|
Growth YoY PAT Growth YoY% | -78.6 | 229.7 | 321.7 | 81.9 | -817.6 | -188.0 | -156.6 | 501.3 | 496.8 | 69.5 | 101.5 | 8.5 |
| 0.2 | 1.1 | 10.0 | -0.7 | -1.5 | -1.0 | -6.3 | 2.5 | 5.8 | -0.3 | 0.1 | 2.7 |
| 0.1 | 0.4 | 3.6 | -0.1 | -0.3 | -0.1 | -1.8 | 1.0 | 2.6 | 0.1 | 0.1 | 1.2 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | -7.6 | -4.0 | 9.9 | 12.5 | -3.9 | -6.2 | 12.9 | 16.7 | 0.9 | -1.6 | 5.7 |
| 5,301 | 4,882 | 4,656 | 5,065 | 5,593 | 5,418 | 4,965 | 5,836 | 7,000 | 6,938 | 6,892 | 7,041 |
Operating Profit Operating ProfitCr |
| 6.3 | 6.5 | 7.1 | 8.0 | 9.7 | 9.0 | 11.1 | 7.5 | 4.9 | 6.6 | 5.7 | 8.8 |
Other Income Other IncomeCr | 96 | 148 | 93 | 69 | 20 | 26 | 38 | 109 | 37 | 292 | 293 | 310 |
Interest Expense Interest ExpenseCr | 292 | 281 | 217 | 227 | 220 | 252 | 210 | 185 | 186 | 193 | 223 | 192 |
Depreciation DepreciationCr | 165 | 184 | 192 | 184 | 200 | 251 | 293 | 310 | 390 | 414 | 483 | 542 |
| -7 | 24 | 42 | 101 | 201 | 62 | 157 | 84 | -178 | 174 | 5 | 258 |
| -12 | -2 | 27 | 46 | 92 | 74 | 16 | 40 | -20 | 12 | -41 | 91 |
|
| | 424.1 | -43.6 | 286.0 | 99.3 | -110.9 | 1,274.4 | -68.7 | -458.9 | 202.7 | -72.1 | 270.1 |
| 0.1 | 0.5 | 0.3 | 1.0 | 1.8 | -0.2 | 2.5 | 0.7 | -2.1 | 2.2 | 0.6 | 2.2 |
| 0.1 | 0.1 | 0.0 | 0.8 | 2.3 | 0.2 | 3.4 | 1.8 | -2.0 | 3.6 | 1.6 | 3.9 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 503 | 503 | 503 | 503 | 503 | 503 | 503 | 503 | 503 | 503 | 503 | 503 |
| 551 | 495 | 492 | 535 | 623 | 576 | 738 | 820 | 703 | 886 | 975 | 958 |
Current Liabilities Current LiabilitiesCr | 1,889 | 1,989 | 2,097 | 2,328 | 2,321 | 2,527 | 2,426 | 2,802 | 3,264 | 3,360 | 3,339 | 3,055 |
Non Current Liabilities Non Current LiabilitiesCr | 1,861 | 1,777 | 1,532 | 1,528 | 1,716 | 2,226 | 2,223 | 2,059 | 1,829 | 2,086 | 2,211 | 2,435 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 1,955 | 1,944 | 1,599 | 1,695 | 1,873 | 2,292 | 2,186 | 2,240 | 2,266 | 2,646 | 2,518 | 2,503 |
Non Current Assets Non Current AssetsCr | 2,905 | 3,069 | 3,295 | 3,472 | 3,556 | 3,786 | 3,987 | 4,217 | 4,290 | 4,444 | 4,799 | 4,800 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 199 | 462 | 676 | 587 | 654 | 667 | 1,281 | 573 | 592 | 473 | 737 |
Investing Cash Flow Investing Cash FlowCr | -57 | -127 | -236 | -407 | -330 | -657 | -265 | -320 | -320 | 72 | -239 |
Financing Cash Flow Financing Cash FlowCr | -108 | -328 | -461 | -180 | -325 | 65 | -806 | -342 | -267 | -371 | -527 |
|
Free Cash Flow Free Cash FlowCr | 29 | 249 | 488 | 252 | 390 | 298 | 1,094 | 221 | 241 | 519 | 526 |
| 4,120.9 | 1,829.5 | 4,741.1 | 1,066.6 | 596.6 | -5,580.6 | 912.5 | 1,303.1 | -375.2 | 292.0 | 1,634.4 |
CFO To EBITDA CFO To EBITDA% | 56.2 | 135.6 | 189.4 | 132.4 | 108.8 | 123.8 | 205.9 | 121.8 | 164.0 | 96.7 | 176.2 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 5,074 | 4,075 | 4,930 | 5,469 | 4,825 | 1,530 | 6,612 | 5,811 | 5,303 | 8,990 | 6,823 |
Price To Earnings Price To Earnings | 2,016.0 | 1,349.2 | 0.0 | 129.3 | 41.5 | 152.0 | 38.6 | 63.4 | 0.0 | 49.6 | 85.3 |
Price To Sales Price To Sales | 0.9 | 0.8 | 1.0 | 1.0 | 0.8 | 0.3 | 1.2 | 0.9 | 0.7 | 1.2 | 0.9 |
Price To Book Price To Book | 4.8 | 4.1 | 5.0 | 5.3 | 4.3 | 1.4 | 5.3 | 4.4 | 4.4 | 6.5 | 4.6 |
| 19.9 | 17.4 | 18.2 | 15.9 | 10.4 | 5.7 | 12.9 | 15.3 | 19.8 | 21.9 | 19.9 |
Profitability Ratios Profitability Ratios |
| 60.1 | 62.1 | 63.0 | 62.7 | 68.0 | 66.9 | 66.2 | 67.1 | 67.4 | 66.3 | 68.1 |
| 6.3 | 6.5 | 7.1 | 8.0 | 9.7 | 9.0 | 11.1 | 7.5 | 4.9 | 6.6 | 5.7 |
| 0.1 | 0.5 | 0.3 | 1.0 | 1.8 | -0.2 | 2.5 | 0.7 | -2.1 | 2.2 | 0.6 |
| 9.1 | 10.2 | 9.8 | 12.1 | 16.2 | 10.3 | 11.6 | 8.8 | 0.2 | 10.1 | 6.6 |
| 0.5 | 2.5 | 1.4 | 5.3 | 9.7 | -1.1 | 11.3 | 3.3 | -13.1 | 11.7 | 3.0 |
| 0.1 | 0.5 | 0.3 | 1.1 | 2.0 | -0.2 | 2.3 | 0.7 | -2.4 | 2.3 | 0.6 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
Prism Johnson Limited (PJL), incorporated in 1992 and rebranded from Prism Cement Limited in 2018, is a leading **integrated building materials manufacturer** in India. The company operates across three core business divisions:
- **Prism Cement** – Cement manufacturing
- **H & R Johnson (India) (HRJ)** – Tiles, sanitaryware, bath fittings, and engineered stone
- **Prism RMC** – Ready-mixed concrete and construction chemicals
With a pan-India footprint and a strong regional presence in Eastern and Central India, Prism Johnson serves the residential, commercial, and infrastructure sectors through a diversified portfolio of high-quality, innovative, and sustainable building materials.
---
### **Core Business Segments**
#### **1. Prism Cement**
- **Production Capacity**: 5.6 million tonnes per annum (MTPA) at an integrated plant in **Satna, Madhya Pradesh**, with plans to expand grinding capacity to **1.44 MTPA** via supply agreements with external grinding units in Uttar Pradesh and Bihar.
- **Cement Products**:
- **Ordinary Portland Cement (OPC)**
- **Portland Pozzolana Cement (PPC)**
- **Premium Variants**:
- *Champion* (base PPC)
- *Champion Plus* – Enhanced strength and leak resistance
- *Champion All Weather* – Moisture-resistant and suitable for all climates
- *Duratech* – All-purpose, high-durability cement for structural work
- **Premium Product Mix**: Increased to **42% of cement revenue** in FY25 (up from 34% in FY24), reflecting a strategic shift toward higher-margin products.
- **Distribution Network**: As of March 2025:
- 2,400+ dealers
- 5,800+ retailers
- Strongest presence in **Uttar Pradesh (60% of sales), Madhya Pradesh, and Bihar**
- **Sustainability Initiatives**:
- Installed **waste heat recovery systems (WHRS)** and **solar power plants** totaling **34.9 MW** at Satna.
- Commissioned a **600 TPD alternative fuel firing (AFR) system** for energy efficiency and decarbonization.
#### **2. H & R Johnson (India) – HRJ Division**
- **Heritage**: Pioneer in Indian ceramic tile manufacturing since **1958** (67-year legacy).
- **Manufacturing Capacity**:
- **~64 million m²/year** of tile production across **11 plants** (own + joint ventures)
- **3.6 million pieces/year** of faucets from two plants (Baddi, HP & Samba, J&K)
- **11,000 tonnes/year** of sanitaryware via JV with **Sunbath Sanitaryware** (Morbi, Gujarat) – acquired 50% stake in Feb 2025
- **Key Product Lines**:
- **Ceramic & Vitrified Tiles**: Brands include *Johnson Tiles, Johnson Marbonite, Johnson Porselano, Johnson Endura*
- **Sanitaryware & Bath Fittings**: *Germ-Free* products with **SilverNano™ antimicrobial technology**
- **Engineered Stone**: *Johnson Marble & Quartz* – non-porous, durable alternative to natural marble
- **Innovation & R&D**:
- DSIR-recognized R&D center in **Dewas, MP**
- Patented products:
- **Anti-static (ESD)** tiles
- **Soluble salt technology** for ceramic coloring
- **Cool Roof SRI** (Solar Reflective Index) tiles for energy efficiency
- **TacTiles** (tactile flooring for visually impaired)
- **Antimicrobial powder** for hygienic surfaces
- Launched **“Cool Roof SRI”** and expanded **high-value glazed vitrified tiles** in product mix
- **Retail & Experience Network**:
- **21 large-format Experience Centres** nationwide (increased from 18 in 2023)
- Over 100 **"House of Johnsons"** retail outlets
- Multilingual advertising campaigns targeting South & East India (launched May 2025)
#### **3. Prism RMC (Ready-Mix Concrete)**
- **Market Position**: **Top 3–4 player** in India’s RMC segment with **pan-India presence**.
- **Operational Network**:
- **87–103 plants** across **40–47 cities** (varies by reporting month – latest indicates **87 plants** in Nov 2025)
- Significant **franchisee-led expansion model** enabling scalable, asset-light growth
- **Capacity & Utilization**:
- **11.6 million m³/year** installed capacity
- Sales volume: ~**3.8–4.1 million m³** (utilization ~33–35%) – significant upside potential
- **Quality Assurance**:
- **Two NABL-certified technical laboratories**
- Computerized batching, IT-OT integration, and real-time monitoring for consistency
- **Innovative Product Range**:
- **Envirocrete**: Eco-friendly, low-carbon footprint
- **Aquaresistcrete**: Waterproofing concrete
- **Perviouscrete**: Permeable solution for rainwater harvesting
- **Thermocrete**: Reduces thermal cracking in structures
- **Elitecrete**: Lightweight, insulation-focused
- **Backward Integration**: Owns **3 quarries** for aggregates & manufactured sand (75% of concrete content)
- **Key Clients**:
- Metro construction, highways, bullet trains, power plants, ports, and refineries
- Growing focus on **individual home builders** and **retail contractors**
---
### **Construction Chemicals – Ardex Endura JV**
- **Joint Venture**: 50% stake with **Ardex GmbH, Germany** – R&D-focused business.
- **Manufacturing**: Plants in **Bengaluru, Vadodara, Pune, Durgapur, Nellore, Ghiloth, and Guwahati**
- **Product Portfolio**:
- Tile & stone installation products
- Waterproofing systems
- Floor adhesives, anchors, grouts
- Decorative finishes and concrete repair solutions
- Strategic to support tile and RMC segments with value-added solutions
---
### **Strategic Growth Drivers**
- **Franchisee Expansion**: RMC and tile segments are scaling through a **franchise model** to enhance geographic reach and improve capital efficiency.
- **Capacity Optimization**: Focus on **improving plant utilization** in cement (grinding unit tie-ups) and RMC (higher load factors).
- **Premiumization**: Increasing share of **value-added and eco-friendly products** (e.g., Cool Roof, SilverNano, Champion All Weather, Perviouscrete).
- **Digital Transformation**:
- Implemented **Ramco ERP Suite** across Cement Division for integrated finance, manufacturing, procurement, and HR.
- GIS-enabled sales tools and real-time plant monitoring enhance efficiency and visibility.
- **Sustainability Commitment**:
- Solar power, waste heat recovery, and AFR use in cement
- Low-emission CNG transit mixers in RMC operations
---
### **Recent Milestones (2023–2025)**
- **2023**:
- Commissioned **6.3 Mm² greenfield tile plant at Panagarh, West Bengal** – enhances Eastern India presence
- Commissioned **600 TPD AFR system** at Satna
- **2024**:
- Completed **modernization of Vijayawada tile plant** for premium product focus
- Expanded tile capacity via JVs (~4 million m²)
- **2025**:
- Acquired 50% stake in **Sunbath Sanitaryware** (Morbi) – secures supply chain
- Launched **multimedia advertising campaign** in regional markets
- Premium cement products now **42% of revenue**