J K Cements Ltd
JKCEMENT NSE
J K Cements Ltd
ConstructionNSE: JKCEMENT BSE: 532644 Cement
Key Fundamentals
MidcapCementConstructionMarket Cap
₹41,632 Cr
Volatility
Moderate
P/E Ratio
43.96
EBITDA
₹2,569 Cr
Return on Equity
13.93%
Debt to Equity
0.88
Book Value
₹910.76
EPS
₹111.1
52W High
₹7,565.5
52W Low
₹4,671.5
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view J K Cements Ltd insights
48 extracted metrics + investor summaries across FY13–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Weaknesses
2- Stock is trading at 5.91 times its book value
- Company might be capitalizing the interest cost
Growth Rate
Revenue Growth
15.47% ↗
Net Income Growth
13.28% ↗
Cash Flow Change
-3.42% ↘
ROE
-3.26% ↗
ROCE
0.00% ↗
EBITDA Margin (Avg.)
1.15% ↗
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 3d agoAI opinion · based on fundamentals
Risk medium
JK Cement Ltd is a mid-large-cap cement company with a market capitalisation of ~₹42,351 crore trading at a PE of 45.2x and 6.03x book value. The company has delivered a 10-year compounded sales growth of 12% and profit CAGR of 33%, with FY26 consolidated EBITDA margins around 17.3% and net debt declining to ₹2,551 crore from ₹3,370 crore in FY25.
Bull Case 8
- Strong long-term profit compounding — 10-year profit CAGR of 33% demonstrates consistent earnings growth through cycles
- Healthy revenue trajectory — TTM sales growth of 16% and 10-year compounded sales CAGR of 12% indicate sustained demand capture
- Aggressive capacity expansion underway — brownfield additions of 3.3 MTPA clinker and 3 MTPA grinding across Panna, Hamirpur and Prayagraj provide volume growth runway
- Net debt reduced to ₹2,551 crore in FY26 from ₹3,370 crore in FY25, a ~24% reduction despite ongoing capex
- Consistent ROE profile — 3-year, 5-year and 10-year ROE averaging 15%, with last year at 16%, reflecting efficient capital allocation
- Interest coverage ratio of 6.1x (FY26 standalone) provides comfortable debt servicing headroom
- Q1 FY26 EBITDA margin peaked at 22.3% with PAT up 75% YoY, showing margin expansion potential when input costs are favourable
- Among top-5 global white cement players with 1.72 MTPA capacity, offering diversification beyond grey cement
Bear Case 8
- Stock trading at 6.03x book value — significantly premium to cement sector averages, leaving limited margin of safety
- PE of 45.2x is elevated for a cyclical commodity business, pricing in substantial future growth
- Stock has declined 21% over the past 1 year despite positive operational performance, indicating potential de-rating risk
- EBITDA margin contracted sharply from 21.4% in Q4 FY25 to 17.6% in Q4 FY26, a 380 bps compression, reflecting cost pressures
- Gross debt remains elevated at ₹5,136 crore (FY26) with debt-to-equity near 87-100% as per financial databases, funding aggressive expansion
- Company may be capitalising interest costs, which could overstate reported profitability and asset values
- TTM profit growth of only 6% versus 16% sales growth shows margin pressure is squeezing bottom-line conversion
- Dividend yield of just 0.36% offers negligible income return relative to elevated valuation multiples
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 1d ago Headwinds 1
- Q1 FY27 net profit declines Jul 18
Standalone net profit fell to ₹291 crore in Q1 FY27 from ₹332.48 crore YoY, a ~12.5% decline despite revenue growth.
Positives 3
- Fidelity raises stake to 9.17% Jul 11
FMR LLC and FIL Limited subsidiaries acquired 2.14% via open market purchases (Sep 2023–Jul 2026), increasing total holding to 9.17%, signaling institutional confidence.
- Renewable energy SPV investment Jul 29
JK Cement acquired 18.31% stake in Mehrauni Electro Power for ₹4.91 Cr to secure solar power for its Prayagraj plant, strengthening long-term energy cost management.
- RMC expansion targets 100 plants Jul 21
Company targets 100 RMC plants by FY28 with INR 250-300 Cr RMC revenue in FY27 and break-even expected that year. Panna Line 2 clinker capacity set to reach 4 MTPA by FY27.
Neutral 3
- Equirus conference participation Aug 13 Aug 6
JK Cement will participate in the Equirus Annual India Conference 2026 on August 13 in Mumbai.
- AGM approves dividend, financials Jul 17
Shareholders approved financial statements and dividend at the 32nd AGM held on July 17, 2026.
- Q1 FY27 earnings call held Jul 15
Investor conference call to discuss June 2026 quarter results was hosted on July 20, 2026.
TL;DR: JK Cement is executing well on capacity expansion (Panna clinker, 100 RMC plants by FY28) and attracting institutional interest with Fidelity raising its stake to 9.17%. However, Q1 FY27 profitability declined ~12.5% YoY despite revenue growth, suggesting cost pressures in the near term. The renewable energy investments and value-added segment scale-up indicate management is focused on structural margin improvement, but investors should watch whether profit recovery materializes in coming quarters.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,763 | 2,753 | 2,935 | 3,106 | 2,808 | 2,560 | 2,930 | 3,581 | 3,353 | 3,019 | 3,463 | 3,888 | 4,032 |
| Expenses | 2,355 | 2,286 | 2,310 | 2,546 | 2,321 | 2,276 | 2,438 | 2,816 | 2,665 | 2,573 | 2,906 | 3,205 | 3,384 |
| Operating Profit | 408 | 467 | 625 | 560 | 486 | 284 | 492 | 765 | 688 | 447 | 557 | 682 | 648 |
| OPM % | 15% | 17% | 21% | 18% | 17% | 11% | 17% | 21% | 21% | 15% | 16% | 18% | 16% |
| Other Income | 17 | 29 | 38 | 55 | 45 | 140 | 45 | 46 | 56 | 51 | -2 | 41 | 39 |
| Interest | 109 | 115 | 114 | 115 | 110 | 123 | 112 | 113 | 109 | 105 | 113 | 98 | 114 |
| Depreciation | 135 | 141 | 140 | 153 | 147 | 146 | 146 | 162 | 146 | 149 | 175 | 182 | 167 |
| PBT | 181 | 241 | 409 | 347 | 273 | 155 | 279 | 535 | 489 | 243 | 268 | 444 | 406 |
| Tax % | 37% | 27% | 31% | 37% | 32% | 12% | 32% | 32% | 34% | 34% | 35% | 25% | 32% |
| Net Profit | 113 | 176 | 284 | 220 | 185 | 136 | 190 | 361 | 324 | 159 | 174 | 331 | 275 |
| EPS in Rs | 14.84 | 22.69 | 36.73 | 28.44 | 23.98 | 16.28 | 24.54 | 46.64 | 41.99 | 20.78 | 22.6 | 43.08 | 35.91 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,401 | 4,362 | 4,010 | 4,854 | 5,259 | 5,802 | 6,606 | 7,991 | 9,720 | 11,556 | 11,879 | 13,722 | 14,401 |
| Expenses | 2,948 | 3,816 | 3,284 | 4,064 | 4,420 | 4,556 | 5,022 | 6,478 | 8,393 | 9,485 | 9,845 | 11,344 | 12,067 |
| Operating Profit | 453 | 546 | 726 | 789 | 839 | 1,246 | 1,585 | 1,513 | 1,327 | 2,071 | 2,034 | 2,379 | 2,334 |
| OPM % | 13% | 13% | 18% | 16% | 16% | 21% | 24% | 19% | 14% | 18% | 17% | 17% | 16% |
| Other Income | 67 | 50 | 79 | 110 | 76 | 53 | 67 | 112 | 75 | 129 | 269 | 142 | 130 |
| Interest | 229 | 305 | 303 | 284 | 261 | 276 | 253 | 270 | 312 | 453 | 459 | 424 | 430 |
| Depreciation | 146 | 197 | 217 | 231 | 241 | 288 | 306 | 342 | 462 | 573 | 601 | 653 | 673 |
| PBT | 144 | 94 | 286 | 383 | 412 | 734 | 1,093 | 1,013 | 628 | 1,174 | 1,242 | 1,444 | 1,361 |
| Tax % | 2% | 41% | 40% | 25% | 36% | 34% | 36% | 33% | 34% | 33% | 30% | 32% | — |
| Net Profit | 142 | 55 | 172 | 286 | 264 | 483 | 703 | 679 | 416 | 790 | 872 | 988 | 938 |
| EPS in Rs | 20.54 | 8.27 | 25.42 | 41.41 | 34.99 | 64.25 | 91.85 | 88.93 | 54.82 | 102 | 111 | 128 | 122 |
| Div. Payout % | 19% | 48% | 31% | 24% | 29% | 12% | 16% | 17% | 27% | 20% | 13% | 16% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 70 | 70 | 70 | 70 | 77 | 77 | 77 | 77 | 77 | 77 | 77 | 77 |
| Reserves | 1,547 | 1,517 | 1,641 | 1,905 | 2,625 | 2,950 | 3,659 | 4,248 | 4,607 | 5,290 | 6,012 | 6,960 |
| Borrowings | 3,229 | 3,323 | 3,317 | 2,941 | 2,973 | 3,503 | 3,626 | 4,115 | 5,292 | 5,552 | 6,028 | 6,183 |
| Other Liabilities | 1,205 | 1,275 | 1,383 | 1,541 | 1,737 | 2,011 | 2,509 | 2,963 | 3,331 | 3,883 | 4,564 | 5,280 |
| Total Liabilities | 6,051 | 6,185 | 6,411 | 6,456 | 7,413 | 8,542 | 9,872 | 11,403 | 13,307 | 14,802 | 16,682 | 18,500 |
| Fixed Assets | 4,074 | 4,254 | 4,542 | 4,443 | 4,537 | 5,554 | 5,937 | 6,544 | 8,467 | 9,298 | 9,519 | 11,586 |
| CWIP | 337 | 321 | 127 | 104 | 574 | 530 | 509 | 1,032 | 592 | 464 | 1,317 | 1,055 |
| Investments | 37 | 79 | 80 | 119 | 438 | 46 | 142 | 216 | 92 | 377 | 601 | 447 |
| Other Assets | 1,603 | 1,532 | 1,662 | 1,789 | 1,863 | 2,412 | 3,283 | 3,612 | 4,155 | 4,662 | 5,244 | 5,412 |
| Total Assets | 6,051 | 6,185 | 6,411 | 6,456 | 7,413 | 8,542 | 9,872 | 11,403 | 13,307 | 14,802 | 16,682 | 18,500 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 256 | 580 | 772 | 883 | 704 | 1,367 | 1,593 | 878 | 1,377 | 1,959 | 1,939 | 1,873 |
| Investing | -478 | -408 | -668 | -79 | -825 | -1,483 | -1,348 | -984 | -1,964 | -1,626 | -1,890 | -1,667 |
| Financing | 230 | -193 | -346 | -723 | 173 | -108 | -137 | 62 | 741 | -416 | 74 | -385 |
| Net Cash Flow | 8 | -21 | -242 | 81 | 52 | -225 | 108 | -44 | 154 | -83 | 123 | -178 |
| Free Cash Flow | -291 | 199 | 388 | 739 | 73 | 124 | 834 | -649 | -226 | 792 | 241 | -376 |
| CFO/OP | 63 | 112 | 115 | 125 | 96 | 122 | 113 | 72 | 116 | 102 | 105 | 88 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 19 | 18 | 18 | 18 | 18 | 17 | 20 | 20 | 18 | 18 | 24 | 20 |
| Inventory Days | 345 | 258 | 292 | 269 | 257 | 289 | 257 | 343 | 223 | 235 | 213 | 249 |
| Days Payable | 196 | 160 | 222 | 303 | 179 | 206 | 204 | 203 | 188 | 175 | 199 | 198 |
| Cash Conversion Cycle | 169 | 116 | 88 | -17 | 96 | 100 | 73 | 159 | 53 | 78 | 38 | 71 |
| Working Capital Days | -26 | -33 | -27 | -21 | -29 | -14 | -5 | 15 | -4 | -1 | -23 | -22 |
| ROCE % | 8% | 8% | 12% | 14% | 13% | 17% | 20% | 17% | 10% | 16% | 14% | 15% |
Documents
1
Newspaper Advertisement Regarding The Notice Of Special Window For Transfer And Dematerialization Of Physical Securities.
28 Apr - Newspaper ad on special window for transfer and dematerialisation of physical securities, open till 4 February 2027. 28 Apr - Newspaper ad on special window for transfer and dematerialisation of physical securities, open till 4 February 2027.
2
Newspaper Advertisement- Communication To Shareholders Regarding Launch Of Second 100-Day Campaign - Saksham Niveshak
28 Apr - Second Saksham Niveshak campaign runs April 1-July 9, 2026 for KYC, bank mandate and nominee updates. 28 Apr - Second Saksham Niveshak campaign runs April 1-July 9, 2026 for KYC, bank mandate and nominee updates.
3
Announcement under Regulation 30 (LODR)-Acquisition
29 Apr - JK Cement invested Rs2.81 crore for 26% in Truere Current Private Limited for a 40 MWp solar project. 29 Apr - JK Cement invested Rs2.81 crore for 26% in Truere Current Private Limited for a 40 MWp solar project.
4
Announcement under Regulation 30 (LODR)-Acquisition
29 Apr - Invested Rs2.81 crore for 26% stake in Truere Current Private, supporting 40 MWp solar supply. 29 Apr - Invested Rs2.81 crore for 26% stake in Truere Current Private, supporting 40 MWp solar supply.
5
Announcement under Regulation 30 (LODR)-Acquisition
27 Apr - Invested Rs 4.22 crore for 26% stake in Truere Guj SPV, supporting 70 MWp solar project. 27 Apr - Invested Rs 4.22 crore for 26% stake in Truere Guj SPV, supporting 70 MWp solar project.
4
Proposed To Make A Further Investment In Equity Shares Of Mehrauni Electro Power Private Limited 29 Jul 2026
General_Announcements
Frequently Asked Questions about J K Cements Ltd
What does J K Cements Ltd do?
The Company is engaged in the manufacturing and selling of Cement and Cement related products with over 4 decades of experience in cement manufacturing. It is an affiliate of the multi-disciplinary industrial conglomerate JK Organisation. [1]
Where is J K Cements Ltd (JKCEMENT) listed?
J K Cements Ltd is listed on the Indian stock exchanges. It is listed on NSE: JKCEMENT and BSE: 532644. You can view its live share price, financials, and ratios on Tapetide.
Which sector does J K Cements Ltd belong to?
J K Cements Ltd operates in the Construction sector within the Cement industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of J K Cements Ltd?
J K Cements Ltd has a market capitalisation of approximately ₹41632.13 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of J K Cements Ltd?
The Price-to-Earnings (PE) ratio of J K Cements Ltd is 43.96. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of J K Cements Ltd?
Over the past 52 weeks, J K Cements Ltd has traded between a low of ₹4,671.5 and a high of ₹7,565.5. This range helps investors understand the stock's price volatility and recent trading levels.
Does J K Cements Ltd pay dividends?
Yes, J K Cements Ltd has a dividend yield of 0.37%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of J K Cements Ltd?
J K Cements Ltd has a Return on Equity (ROE) of 13.93%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research J K Cements Ltd on Tapetide?
On Tapetide, you can view J K Cements Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
The Company is engaged in the manufacturing and selling of Cement and Cement related products with over 4 decades of experience in cement manufacturing. It is an affiliate of the multi-disciplinary industrial conglomerate JK Organisation. [1]