Shares of this cement stock under the ‘mid-cap’ category jumped up to 6 percent in Monday’s trading session after the company announced financial results for Q4FY24, i.e., for the quarter ended March 2024. In the past six months, the company’s stock gained nearly 15 percent for its holders.
With a market capitalization of Rs 30,016.39 crores, the stocks of J.K.Cement Limited opened their trading hour on Monday at Rs 3,872.80 and currently trade at Rs 3,885.55. The company’s scrip witnessed an intra-day high price of Rs 4,060.20 representing a gain of around 6 percent compared to the previous close of Rs 3,835.85 apiece.
Such bullish stock price movements are observed today after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), announced the financial results for Q4FY24, i.e., for the March’24 quarter.
Sequentially, the company’s prime business indicators, viz, its operating revenues as well as after-tax profits, reported movements in opposing directions with the former, on one end, rising from Rs 2,935 crores during Q3FY24 to Rs 3,106 crores during Q4FY24, and the latter, on the other end, dipping from Rs 284 crores to Rs 220 crores.
In addition, the company, on a YoY basis, reported a jump in the above mentioned metrics with the operating revenues shifting from Rs 2,778 crores during Q4FY23 to Rs 3,106 crores during Q4FY24, and the after-tax profits, during the same period, rising from Rs 107 crores to Rs 220 crores representing an increase of a whopping 106 percent.
Historically, the company, due to disappointing numbers, reported a dip in its profitability ratios with the return on equity (RoE) falling from 15.88 percent during FY22 to 9.09 percent during FY23 and the return on capital employed (RoCE), during the same time horizon, dipping from 14.69 percent to 9.12 percent.
Incorporated in 1975, JK Cement Limited is an India-based building materials company that manufactures cement and cement-related products, primarily consisting of white cement such as JK White Cement, JK Primaxx, etc, and grey cement such as Portland Pozzolana Cement (PPC) and others.
Written by Amit Madnani
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
