The shares of manufacturers and suppliers of cement gained up to 9 percent after the company’s net profit and revenue increased by 95 percent and 9 percent YoY, respectively in the third quarter and announced an interim dividend of Rs 2 per equity share.
With a market capitalization of Rs 11,246.32 crore, the shares of JK Lakshmi Cement Ltd were trading at Rs 955.75 per share, increasing around 3.94 percent as compared to the previous closing price of Rs 919.55 apiece.
Looking into the company’s Performance, JK Lakshmi Cement Ltd’s revenue increased by 8 percent on a quarter-on-quarter basis from Rs.1,575 crores in Q2FY24 to Rs. 1,703 crores in Q3FY24. Further, revenue increased by 9 percent year on year from Rs. 1,562 crore in Q3FY23 to Rs. 1,703 crore in Q3FY24.
JK Lakshmi Cement Ltd’s net profit increased by 56 percent on a quarter-on-quarter basis from Rs. 96 crore in Q2FY24 to Rs. 150 crore in Q3FY24. Further, net profit increased by 95 percent yearly from Rs 77 crore in Q3FY23 to Rs. 150 crore in Q3FY24.
Furthermore, the company’s board of directors proposes an interim dividend of Rs 2 per equity share for fiscal year 2023-24.
The Revival & Rehabilitation Project of Udaipur Cement Works Ltd., a material subsidiary of the Company (UCWL), was completed for Rs 825 crore by refurbishing the Clinker line and adding another Cement Mill, increasing the cement capacity to 1.6 million tonnes with a clinker capacity of 1.2 million tons.
The company has strategic plan 4 Expanding our capacity to 30 million tons by 2030 and ranking among the top 5 EBIDTA / ton-earning cement companies in the Industry.
JK Lakshmi Cement Limited is an Indian firm that manufactures cement. The company manufactures and supplies cement and cementitious products like ready-mix concrete (RMC) and autoclaved aerated concrete (AAC) blocks, having production sites in Rajasthan, Chhattisgarh, Gujarat, Haryana, Uttar Pradesh, and Odisha.
Written by:- Abhishek singh
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