J K Cements Ltd
JKCEMENT NSE
J K Cements Ltd
ConstructionNSE: JKCEMENT BSE: 532644 Cement
Key Fundamentals
MidcapCementConstructionMarket Cap
₹41,454 Cr
Volatility
Moderate
P/E Ratio
43.93
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 5.86 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 5d agoAI opinion · based on fundamentals
Risk medium
JK Cement Ltd trades at a market cap of ₹41,358 crore with a P/E of 44.4x and P/B of 5.92x. The company delivered consolidated FY25 revenue of approximately ₹11,879 crore and PAT of ₹872 crore, while aggressively expanding grey cement capacity from ~25 MTPA to over 31 MTPA by early 2026. The stock has declined 22% over the past year despite a 10-year stock CAGR of 22%.
Bull Case 7
- Aggressive capacity expansion — grey cement capacity crossed 31 MTPA after commissioning a 3 MTPA Buxar plant and adding 2 MTPA at Panna/Hamirpur, providing a clear volume growth runway
- Consistent long-term sales growth with 10-year compounded sales CAGR of 12% and TTM sales growth accelerating to 16%
- Strong long-term profit compounding at 33% CAGR over 10 years, demonstrating operating leverage as capacity utilisation rises
- Stable return on equity at 15-16% across 3, 5, and 10-year periods, indicating consistent capital efficiency
- FY25 consolidated PAT of ₹872 crore versus ₹790 crore in FY24, representing approximately 10% YoY profit growth
- Diversified product mix across grey and white cement with presence in North, Central, and South India, reducing regional concentration risk
- FY26 Q4 net sales of ₹3,614 crore, up 11% YoY from ₹3,261 crore, indicating continued revenue momentum
Bear Case 8
- Stock trades at 5.92x book value, significantly above the cement sector median, leaving limited margin of safety
- P/E of 44.4x is elevated for a cyclical commodity business, pricing in substantial future growth
- Stock has declined 22% over the past 1 year, underperforming despite capacity additions, signalling market concern on near-term earnings
- Interest cost of ₹424 crore in FY26 (up from ₹459 crore in FY25 and ₹312 crore in FY23), reflecting higher debt burden from expansion capex
- Company may be capitalising interest costs, which could overstate reported profitability and asset returns
- Dividend yield of only 0.37%, offering negligible income return to shareholders at current valuation
- TTM profit growth of only 6% versus TTM sales growth of 16%, indicating margin compression or rising cost pressures
- Depreciation rose sharply from ₹342 crore in FY22 to ₹653 crore in FY26, reflecting the drag of heavy capex on reported earnings
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 19h ago Positives 2
- Renewable energy SPV investment Jul 29
JK Cement acquired 18.31% stake in Mehrauni Electro Power for ₹4.91 Cr to secure solar power supply for its Prayagraj plant, strengthening long-term energy cost management.
- RMC expansion and clinker growth Jul 21
Company targets 100 RMC plants by FY28 with INR 250-300 Cr RMC revenue in FY27 and break-even that year. Panna Line 2 clinker capacity set to reach 4 MTPA by FY27 to serve Central India.
Neutral 1
- Analyst meet at Equirus conference Aug 6
JK Cement will participate in the Equirus Annual India Conference 2026 on August 13, 2026 in Mumbai, a routine investor engagement event.
TL;DR: JK Cement is executing a clear capacity and diversification strategy, scaling its RMC segment toward break-even while expanding clinker capacity in Central India. The renewable energy investment signals focus on cost optimization. No material headwinds emerged in recent news. The trend is constructive with multiple growth levers activating over FY27-28.
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.
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 ₹41454.42 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 43.93. 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]