Hot Pursuit     22-May-23
JK Lakshmi Cement slides as Q4 PAT tumbles 43% YoY
JK Lakshmi Cement (JKLC) slipped 5.04% to Rs 740.80 after the company's net profit slumped 43.3% to Rs 97.32 crore in Q4 FY23 as against Rs 171.73 crore in Q4 FY22.
However, revenue from operations rose 15.4% year on year to Rs 1,728.87 crore in the quarter ended 31 March 2023.

Profit before tax (PBT) stood at Rs 137.27 crore during the quarter, registering a decrease of 30.6% on YoY basis.

PBIDT (profit before interest, depreciation and tax) fell 29.6% YoY to Rs 206.89 crore during the period under review.

Vinita Singhania, vice chairman & managing director (VC & MD) of the company said, "Despite unabated increase in the fuel cost, the company has been able to record satisfactory performance by improving its various efficiency parameters, better product mix & geo mix & focusing on several green initiatives."

For the full year, JKLC's net profit declined 22.4% to Rs 330.77 crore despite of 20.4% rise in net sales to Rs 6,071.05 crore in the year ended March 2023 over the year ended March 2022.

The cement maker said, “Considering the Government's focus on infrastructure development & higher budgetary allocation towards infrastructure development and various other initiatives for housing & road development, the outlook for cement sector is quite positive in the coming year.”

The company added, “Work on flie expansion project at its subsidiary, Udaipur Cement Works of 2.50 million tonnes cement plant is on full swing as per schedule. The project is expected to be commissioned in the 2nd of FY25 as per the original schedule. The clinkerisation line of 1.50 million tonnes per annum is expected to be commissioned ahead of the schedule during the 3rd of FY24. UCWL proposes to go for the rights issue of upto Rs 450 crore to part-finance its on-going cement expansion project in June / July 2023.” The board has recommended a dividend of Rs 3.75 per equity share for the financial year ended 31 March 2023.

Meanwhile, the company's board approved fund raising through issuance of green bonds/ non-convertible debentures (NCDs), in one or more tranches, upto an amount of Rs 200 crore to part finance the cost of the company's green projects / ongoing projects, subject to requisite regulatory /statutory approvals.

JK Lakshmi Cement is a cement manufacturer with a presence in Northern, Western and Eastern India's cement markets.

Previous News
  JK Lakshmi Cement consolidated net profit declines 15.37% in the June 2022 quarter
 ( Results - Announcements 27-Jul-22   18:03 )
  JK Lakshmi Cement
 ( Results - Analysis 03-Nov-23   05:06 )
  JK Lakshmi Cement to declare Quarterly Result
 ( Corporate News - 21-Jul-23   10:04 )
  JK Lakshmi Cement to table results
 ( Corporate News - 11-May-22   12:48 )
  Volumes jump at Finolex Industries Ltd counter
 ( Hot Pursuit - 09-Feb-24   11:00 )
  JK Lakshmi Cement to hold board meeting
 ( Corporate News - 22-Oct-22   17:31 )
  JK Lakshmi Cement to table results
 ( Corporate News - 01-Feb-24   10:55 )
  JK Lakshmi Cement consolidated net profit declines 1.79% in the June 2020 quarter
 ( Results - Announcements 05-Aug-20   17:53 )
  Board of JK Lakshmi Cement recommends interim dividend
 ( Corporate News - 09-Feb-24   10:15 )
  JK Lakshmi Cement
 ( Analyst Meet / AGM - Conference Call 30-Jan-20   15:31 )
  JK Lakshmi Cement announces board meeting date
 ( Corporate News - 20-Jan-20   10:02 )
Other Stories
  NSE SME SAR Televenture's FPO subscribed 67%
  22-Jul-24   17:58
  Mahindra Logistics gains as Q1 net loss narrows to Rs 7.84 cr
  22-Jul-24   16:34
  IOB PAT rises 21% YoY to Rs 633 crore in Q1 FY25
  22-Jul-24   15:14
  Wipro Ltd leads losers in 'A' group
  22-Jul-24   15:00
  IDBI Bank gains as Q1 PAT climbs 40% YoY to Rs 1,719 cr
  22-Jul-24   14:51
  Remedium Lifecare Ltd leads losers in 'B' group
  22-Jul-24   14:45
  Volumes spurt at Chemplast Sanmar Ltd counter
  22-Jul-24   14:30
  NSE SME Prizor Viztech sizzles on debut
  22-Jul-24   14:05
  Energy shares fall
  22-Jul-24   14:00
  Real Estate stocks slide
  22-Jul-24   14:00
Back Top