New Risk • May 28
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks High level of debt (79% net debt to equity). Paying a dividend despite having no free cash flows. Reported Earnings • May 24
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: ₹128 (up from ₹111 in FY 2025). Revenue: ₹139.2b (up 17% from FY 2025). Net income: ₹9.92b (up 15% from FY 2025). Profit margin: 7.1% (down from 7.2% in FY 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.9%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 3.8% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • May 13
J.K. Cement Limited to Report Q4, 2026 Results on May 23, 2026 J.K. Cement Limited announced that they will report Q4, 2026 results at 12:15 PM, Indian Standard Time on May 23, 2026 Buy Or Sell Opportunity • Apr 30
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.3% to ₹5,287. The fair value is estimated to be ₹6,784, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 32%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 44% in the next 2 years. Buy Or Sell Opportunity • Feb 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.8% to ₹5,656. The fair value is estimated to be ₹7,079, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 32%. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to grow by 46% in the next 2 years. Buy Or Sell Opportunity • Feb 13
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at ₹5,599. The fair value is estimated to be ₹7,056, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 32%. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to grow by 46% in the next 2 years. Reported Earnings • Jan 19
Third quarter 2026 earnings released: EPS: ₹22.60 (vs ₹24.54 in 3Q 2025) Third quarter 2026 results: EPS: ₹22.60 (down from ₹24.54 in 3Q 2025). Revenue: ₹35.1b (up 20% from 3Q 2025). Net income: ₹1.75b (down 7.9% from 3Q 2025). Profit margin: 5.0% (down from 6.5% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, while revenues in the Basic Materials industry in India are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 32% per year whereas the company’s share price has increased by 27% per year. Announcement • Dec 29
J.K. Cement Limited to Report Q3, 2026 Results on Jan 17, 2026 J.K. Cement Limited announced that they will report Q3, 2026 results at 9:15 AM, Indian Standard Time on Jan 17, 2026 Announcement • Dec 04
J.K. Cement Limited (BSE:532644) agreed to acquire an additional 12.21% stake in O2 Renewable Energy V Private Limited from JSW Neo Energy Limited for INR 51.9 million. J.K. Cement Limited (BSE:532644) agreed to acquire an additional 12.21% stake in O2 Renewable Energy V Private Limited from JSW Neo Energy Limited for INR 51.9 million on December 3, 2025. Upon completion, J.K. Cement Limited will own 28.97% stake in O2 Renewable Energy V Private Limited.
For the period ending March 31, 2025, O2 Renewable Energy V Private Limited reported total revenue of INR 202.9 million, net income of INR 8.1 million and Total common equity of INR 432.7 million. Reported Earnings • Nov 02
Second quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2026 results: EPS: ₹20.78 (up from ₹16.28 in 2Q 2025). Revenue: ₹30.7b (up 20% from 2Q 2025). Net income: ₹1.61b (up 28% from 2Q 2025). Profit margin: 5.2% (up from 4.9% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.2%. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, while revenues in the Basic Materials industry in India are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 31% per year. Announcement • Sep 17
J.K. Cement Limited Announces Demise of Saurabh Chandra, Independent Director J.K. Cement Limited announced that the Company has been intimated about the sad demise of Mr. Saurabh Chandra, Independent Director of the Company, on September 16, 2025. Announcement • Sep 12
J.K. Cement Limited to Report Q2, 2026 Results on Nov 01, 2025 J.K. Cement Limited announced that they will report Q2, 2026 results at 9:15 AM, Indian Standard Time on Nov 01, 2025 Price Target Changed • Jul 22
Price target increased by 12% to ₹6,569 Up from ₹5,869, the current price target is an average from 27 analysts. New target price is approximately in line with last closing price of ₹6,490. Stock is up 45% over the past year. The company is forecast to post earnings per share of ₹143 for next year compared to ₹111 last year. Upcoming Dividend • Jul 01
Upcoming dividend of ₹15.00 per share Eligible shareholders must have bought the stock before 08 July 2025. Payment date: 17 August 2025. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (0.5%). Reported Earnings • Jun 28
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: ₹111 (up from ₹102 in FY 2024). Revenue: ₹118.8b (up 2.8% from FY 2024). Net income: ₹8.61b (up 8.9% from FY 2024). Profit margin: 7.2% (up from 6.8% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 1.1% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 10
J.K. Cement Limited to Report Q1, 2026 Results on Jul 19, 2025 J.K. Cement Limited announced that they will report Q1, 2026 results at 12:15 PM, Indian Standard Time on Jul 19, 2025 Announcement • Jun 07
J.K. Cement Limited (BSE:532644) completed the acquisition of 60% stake in Saifco Cements Private Limited for INR 1.4 billion. J.K. Cement Limited (BSE:532644) agreed to acquire 60% stake in Saifco Cements Private Limited for an enterprise value of INR 1.74 billion on January 25, 2025.
For the FY 2023-2024 Saifco Cements Private Limited reported INR 863 million. The transaction is subject to approval by regulatory board / committee, approval of offer by acquirer board and consummation of due diligence investigation. As of January 25, 2025, the J.K. Cement Limited Board of directors approved the acquisition. The transaction would likely to be completed in maximum next six months.
Sidharrth Shankar, Prakriti Jaiswal, and Shringarika Priyadarshini of J. Sagar Associates acted as legal advisor to Saifco Cements Private Limited.
J.K. Cement Limited (BSE:532644) completed the acquisition of 60% stake in Saifco Cements Private Limited for INR 1.4 billion on June 6, 2025. Declared Dividend • May 28
Dividend of ₹15.00 announced Shareholders will receive a dividend of ₹15.00. Ex-date: 8th July 2025 Payment date: 17th August 2025 Dividend yield will be 0.3%, which is lower than the industry average of 0.4%. Sustainability & Growth Dividend is covered by both earnings (13% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 79% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 27
J.K. Cement Limited announces Annual dividend, payable on August 17, 2025 J.K. Cement Limited announced Annual dividend of INR 15.0000 per share payable on August 17, 2025, ex-date on July 08, 2025 and record date on July 08, 2025. Price Target Changed • May 27
Price target increased by 7.3% to ₹5,573 Up from ₹5,195, the current price target is an average from 26 analysts. New target price is 5.3% above last closing price of ₹5,292. Stock is up 33% over the past year. The company is forecast to post earnings per share of ₹136 for next year compared to ₹111 last year. Announcement • May 26
J.K. Cement Limited, Annual General Meeting, Jul 18, 2025 J.K. Cement Limited, Annual General Meeting, Jul 18, 2025. Reported Earnings • May 25
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: ₹111 (up from ₹102 in FY 2024). Revenue: ₹120.5b (up 4.3% from FY 2024). Net income: ₹8.61b (up 8.9% from FY 2024). Profit margin: 7.1% (up from 6.8% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Revenue is forecast to grow 10.0% p.a. on average during the next 2 years, compared to a 2.6% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 16
J.K. Cement Limited Announces Resignation of Sudhir Jalan as Non Independent Director, Effective 16 April, 2025 J.K. Cement Limited informed that Shri Sudhir Jalan (DIN 00111118),functioning as Non Executive Non Independent Director on the Board of the Company, has (by his attached letter dated 16.4.25) tendered resignation from the Directorship of the Company on being attaining 80 years of age, hence reduced commitments and travels. Consequent upon resignation of Shri Sudhir Jalan, there is a change in the Company’s Directorate. The Company appreciates the contribution rendered by Mr. Jalan during his tenure as Director of the Company and wishes for his good health. Date of Cessation; Effective closure of business hours on 16th April, 2025. Announcement • Apr 13
J.K. Cement Limited to Report Q4, 2025 Results on May 24, 2025 J.K. Cement Limited announced that they will report Q4, 2025 results at 12:15 PM, Indian Standard Time on May 24, 2025 Announcement • Jan 27
J.K. Cement Limited (BSE:532644) agreed to acquire 60% stake in Saifco Cements Private Limited for an enterprise value of INR 1.74 billion. J.K. Cement Limited (BSE:532644) agreed to acquire 60% stake in Saifco Cements Private Limited for an enterprise value of INR 1.74 billion on January 25, 2025.
The transaction is subject to approval by regulatory board / committee, approval of offer by acquirer board and consummation of due diligence investigation. As of January 25, 2025, the J.K. Cement Limited Board of directors approved the acquisition.
The transaction would likely to be completed in maximum next six months. Reported Earnings • Jan 27
Third quarter 2025 earnings released: EPS: ₹24.54 (vs ₹36.73 in 3Q 2024) Third quarter 2025 results: EPS: ₹24.54 (down from ₹36.73 in 3Q 2024). Revenue: ₹29.7b (up 1.4% from 3Q 2024). Net income: ₹1.90b (down 33% from 3Q 2024). Profit margin: 6.4% (down from 9.7% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 13% per year. Buy Or Sell Opportunity • Jan 13
Now 22% undervalued The stock has been flat over the last 90 days, currently trading at ₹4,364. The fair value is estimated to be ₹5,608, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 3.1%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 48% in the next 2 years. Announcement • Dec 26
J.K. Cement Limited to Report Q3, 2025 Results on Jan 25, 2025 J.K. Cement Limited announced that they will report Q3, 2025 results on Jan 25, 2025 Buy Or Sell Opportunity • Dec 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.2% to ₹4,577. The fair value is estimated to be ₹5,745, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 3.1%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 48% in the next 2 years. Reported Earnings • Oct 29
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: ₹16.28 (down from ₹23.05 in 2Q 2024). Revenue: ₹25.6b (down 7.0% from 2Q 2024). Net income: ₹1.26b (down 29% from 2Q 2024). Profit margin: 4.9% (down from 6.5% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 60%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.2% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 7% per year. Announcement • Sep 25
J.K. Cement Limited to Report Q2, 2025 Results on Oct 26, 2024 J.K. Cement Limited announced that they will report Q2, 2025 results on Oct 26, 2024 Announcement • Jul 20
J.K. Cement Limited Approves Dividend for the Financial Year 2023-24 J.K. Cement Limited at its Annual General Meeting held on 19 July, 2024, Confirmed dividend of INR 20 per equity share of INR 10 each for Financial Year 2023-24. Upcoming Dividend • Jul 02
Upcoming dividend of ₹20.00 per share Eligible shareholders must have bought the stock before 09 July 2024. Payment date: 15 August 2024. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (0.5%). Announcement • Jul 02
J.K. Cement Limited Announces Resignation of Sumnesh Khandelwal from the Position of Dy. CFO J.K. Cement Limited announced the resignation of Mr. Sumnesh Khandelwal from the position of Dy. CFO is to move forward for better career prospects effective from July 1, 2024. Reported Earnings • Jun 30
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: ₹102 (up from ₹54.80 in FY 2023). Revenue: ₹115.6b (up 19% from FY 2023). Net income: ₹7.91b (up 87% from FY 2023). Profit margin: 6.8% (up from 4.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 2.8%. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 5.7% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • Jun 28
J.K. Cement Limited to Report Q1, 2025 Results on Jul 20, 2024 J.K. Cement Limited announced that they will report Q1, 2025 results on Jul 20, 2024 Buy Or Sell Opportunity • Jun 07
Now 22% overvalued Over the last 90 days, the stock has fallen 1.8% to ₹4,187. The fair value is estimated to be ₹3,425, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 9.7% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Announcement • Jun 06
J.K. Cement Limited Announces Management Changes J.K. Cement Limited announced appointment of Mr. Nitish Chopra as Business Head for Paints and White Cement. Reason for change: Consequent upon retirement of earlier Business Head for Paints and White Cement on attending superannuation Mr. Chopra has been reckoned/designated as Sr. Management Personnel. Date of change is June 5, 2024. the company also appointed Mr. Neeraj Singhal as Group Financial Controller. Reason for change is Consequent upon relinquishment of Dy. CFO, Mr. Neeraj Singhal has been reckoned/designated as Sr. Management Personnel. Date of change is June 5, 2024. Announcement • May 15
J.K. Cement Limited, Annual General Meeting, Jul 19, 2024 J.K. Cement Limited, Annual General Meeting, Jul 19, 2024. Reported Earnings • May 14
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: ₹102 (up from ₹55.18 in FY 2023). Revenue: ₹117.0b (up 20% from FY 2023). Net income: ₹7.91b (up 86% from FY 2023). Profit margin: 6.8% (up from 4.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 2.8%. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 5.1% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Announcement • Apr 21
J.K. Cement Limited to Report Q4, 2024 Results on May 12, 2024 J.K. Cement Limited announced that they will report Q4, 2024 results on May 12, 2024 Announcement • Mar 07
J.K. Cement Limited Appoints Rakesh Sethi as an Additional Director in the Category of Non-Executive Independent Director J.K. Cement Limited informed that at the recommendation of the Members of Nomination and Remuneration committee, the Members of Board of Directors of the Company by way of resolution passed through circulation have approved appointment of Mr. Rakesh Sethi as an Additional Director in the category of Non-Executive Independent Director with immediate effect. Date of appointment: March 6, 2024. Mr. Rakesh Sethi is a Gold Medalist in Master of Commerce from the Osmania University, Hyderabad. Work Experience: He has been a career banker and has held several top positions during his 38 years of experience in banking industry. He is a veteran banker and has worked in various segments in banking industry including but not limited to Corporate Banking, Foreign Exchange, Credit, Risk Management, Deposit Planning, Corporate Communications, Government Business etc. Some of his accomplishments include being the Executive Director with Punjab National Bank ("PNB") from January 1, 2011, to March 11, 2014 Chairman and Managing Director of Allahabad Bank from March 12, 2014 to April 30, 2017, and in various capacities in Andhra Bank. He is currently an Independent Director and Chairperson of Board of TruCap Finance Limited, an RBI registered NBFC listed on BSE Limited NSE of india. Announcement • Feb 22
J.K. Cement Limited (BSE:532644) completed the acquisition of Toshali Cements Pvt. Ltd. for INR 900 million. J.K. Cement Limited (BSE:532644) agreed to acquire Toshali Cements Pvt. Ltd. for INR 1.6 billion on June 5, 2023. Transaction has already been approved by J.K. Cement Limited's board of directors. transaction is subject to necessary statutory and regulatory approvals. As of February 21, 2024, the parties agreed to modify the terms of the transaction. As per the modified terms, the payment shall be made in the following manner: The total cost of INR 900 million will be used to acquire equity and making over payment towards discharge of unsecured/ secured loans of promoter group, balance INR 670 million will be paid afterwards consequent upon the Mining Lease being transferred to JK Cement. The transfer of the Mining Lease is subject to necessary statutory and regulatory approvals, which is likely to be completed within 18 months hereof. Deepak Jodhani, of Khaitan & Co acted as legal advisor to Toshali Cements Pvt. Ltd. Samir Sheth of BDO India LLP acted as financial advisor to J.K. Cement Limited (BSE:532644).J.K. Cement Limited (BSE:532644) completed the acquisition of Toshali Cements Pvt. Ltd. for INR 900 million on February 21, 2024. Announcement • Feb 16
J.K. Cement Limited Appoints Praveen Mahajan as Additional Director in Category of Non-Executive Independent Director J.K. Cement Limited at its board meeting held on February 15, 2024, approved appointment of Mrs. Praveen Mahajan as an Additional Director in the category of Non-Executive Independent Director with immediate effect. Education: Bachelor of Arts in English (Hons.) from Government College for Women, Chandigarh, Master of Arts in History and English from Punjab University, Chandigarh. Diploma in International Economic Relations from International Institute of Public Administration (IIPA), Paris. Work Experience: Joined the Indian Revenue Service (Customs & Central Excise) in 1976 and superannuated from service in 2014 as the first woman Chairperson of the Central Board of Excise and Customs (CBEC). Served as Member (Administrative) in the Central Administrative Tribunal for 3 years (2014-2017). Served as President of the All India Tennis Association (AITA) for 4 years (2017-2021). Announcement • Feb 15
J.K. Cement Limited Announces Resignation of Satish Kumar Kalra as Independent Director J.K. Cement Limited announced that Mr. Satish Kumar Kalra (DIN: 01952165), has resigned from the position of Independent Director of the Company with effect 14TM February, 2024.Therefore, tendered resignation as an Independent Director from the Board of Directors including Risk Management Committee and Nomination and Remuneration Committee of JK Cement Limited. Announcement • Feb 08
J.K. Cement Limited Announces Resignation of Ajay Narayan Jha as Independent Director and Member of Corporate Social Responsibility Committee, Audit Committee and Nomination and Remuneration Committee J.K. Cement Limited announced that Mr. Ajay Narayan Jha has resigned from the position of Independent Director of the Company with effect from 8 February, 2024. The Company has received email/letter dated 8 February, 2024 from Mr. Ajay Narayan Jha stating that he has been appointed by the President of India as a Member of the Sixteenth Finance Commission vide Ministry of Finance (Department of Economic Affairs) Notification S.0. 369(E) dated 30 January 2024 and in terms of the Finance Commission Act, 1951, he should have no such financial or other interest as is likely to affect prejudicially his functions and duties as a Member of the Commission. Therefore, tendered resignation as an Independent Director from the Board of Directors including Corporate Social Responsibility Committee, Audit Committee and Nomination and Remuneration Committee of JK Cement Limited, effective closure of business hours on February 08, 2024. He further confirmed that there is no material reason other than as mentioned above for stepping down from the position of Independent Director of the Company. The list indicating category of his directorship and membership of the Board Committee's in the other listed entities before resignation becoming effective: Yatra Online Limited as Independent Director and Audit Committee and Stakeholder Relationship Committee; India Shelter Finance Corporation Limited as Independent Director and Corporate Social Responsibility Committee Risk Management Committee and Stakeholders Relationship Committee. Buy Or Sell Opportunity • Feb 08
Now 21% undervalued Over the last 90 days, the stock has risen 22% to ₹4,214. The fair value is estimated to be ₹5,307, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has declined by 16%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 75% in the next 2 years. Price Target Changed • Jan 24
Price target increased by 10% to ₹4,189 Up from ₹3,797, the current price target is an average from 20 analysts. New target price is approximately in line with last closing price of ₹4,138. Stock is up 57% over the past year. The company is forecast to post earnings per share of ₹106 for next year compared to ₹55.18 last year. Reported Earnings • Jan 21
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: ₹36.73 (up from ₹4.81 in 3Q 2023). Revenue: ₹29.7b (up 22% from 3Q 2023). Net income: ₹2.84b (up ₹2.45b from 3Q 2023). Profit margin: 9.5% (up from 1.6% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.6%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 2.8% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Announcement • Dec 26
J.K. Cement Limited to Report Q3, 2024 Results on Jan 20, 2024 J.K. Cement Limited announced that they will report Q3, 2024 results on Jan 20, 2024 Reported Earnings • Nov 06
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: ₹23.05 (up from ₹14.37 in 2Q 2023). Revenue: ₹27.5b (up 24% from 2Q 2023). Net income: ₹1.78b (up 59% from 2Q 2023). Profit margin: 6.5% (up from 5.0% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 9.0%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 5.8% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Announcement • Oct 19
J.K. Cement Limited to Report Q2, 2024 Results on Nov 04, 2023 J.K. Cement Limited announced that they will report Q2, 2024 results on Nov 04, 2023 Announcement • Oct 05
J.K. Cement Limited Announces Management Changes J.K. Cement Limited announced that Col Rajnish Kapur, Chief Operating Officer - Grey Cement Business of the Company ceases to be a Senior Management Person of the Company on attaining superannuation with effect from close of business hours of 30 September, 2023, however he will be connected to the Company as Strategic Business Advisor, till 31 March 2024 and help in smooth transitioning of his successor Mr. Anuj Khandelwal, joining the Company as Business Head - Grey Cement with effect from 16 October, 2023. Mr. Khandelwal hitherto working as Managing Director and Partner with Boston Consulting Group. He comes with a strong understanding of business and brings with him more than 20 years of experience and a deep expertise in the building materials industry. Anuj joins JK Cement from Boston Consulting Group, where he was a Managing Director and Partner. He brings over 20 years of experience and a deep expertise in the building materials industry. Announcement • Aug 13
J.K. Cement Limited Announces Reconstitution of CSR Committee J.K. Cement Limited informed that the Board of Directors of the Company in their Board Meeting (No. 4 of 2023) held on August 10, 2023, has renamed the `CSR Committee' to `CSR and Sustainability Committee' and reconstituted the said Committee whereby Mrs. Sushila Devi Singhania (Member) is replaced by Mr. Madhavkrishna Singhania (Dy. Managing Director & CEO) and other Members remained unchanged. Announcement • Aug 12
J.K. Cement Limited Declares Dividend for the Financial Year 2022-23 J.K. Cement Limited declared dividend of INR 15.00 on Equity Shares of the Company for the Financial year 2022-23 at the Annual General Meeting held on August 11, 2023. Announcement • Jul 25
J.K. Cement Limited to Report Q1, 2024 Results on Aug 12, 2023 J.K. Cement Limited announced that they will report Q1, 2024 results on Aug 12, 2023 Upcoming Dividend • Jul 25
Upcoming dividend of ₹15.00 per share at 0.5% yield Eligible shareholders must have bought the stock before 01 August 2023. Payment date: 10 September 2023. Payout ratio is a comfortable 27% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.5%). In line with average of industry peers (0.5%). Reported Earnings • Jul 22
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: ₹55.18 (down from ₹88.93 in FY 2022). Revenue: ₹97.2b (up 22% from FY 2022). Net income: ₹4.26b (down 38% from FY 2022). Profit margin: 4.4% (down from 8.6% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 9.2%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 6.2% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 28% per year, which means it is well ahead of earnings.