JK Lakshmi Cement Ltd
JK Lakshmi Cement Ltd
ConstructionKey Fundamentals
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BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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47 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
1- Company has been maintaining a healthy dividend payout of 21.0%
Weaknesses
2- The company has delivered a poor sales growth of 7.42% over past five years.
- Company has a low return on equity of 11.5% over last 3 years.
Growth Rate
AI Analysis — Bull vs Bear
JK Lakshmi Cement trades at a market cap of ~₹7,012 Cr with a PE of ~17x and a dividend yield of 1.15%. The stock has declined ~42% over the past year despite TTM profit growth of 33%, while the company pursues a multi-year capacity expansion from ~16.5 MTPA to ~22.5 MTPA by FY27 and targets 30 MTPA by FY30.
- TTM profit growth of 33% indicates strong near-term earnings momentum and improving operating leverage
- Aggressive capacity expansion underway — targeting ~22.5 MTPA by FY27 from 16.5 MTPA in FY24, a ~36% increase in capacity
- Long-term capacity roadmap to 30 MTPA by FY30 provides multi-year growth visibility with planned capex of ~₹3,000 Cr
- PE of ~17x is modest relative to large-cap cement peers that trade at 25-40x, suggesting valuation compression after the 42% stock decline
- Compounded sales growth of 10% over 10 years demonstrates a consistent long-term revenue track record
- Consistent dividend payout of 21% with ₹6.50/share dividend and 1.15% yield provides some downside cushion
- Q1FY26 profit surged 165% YoY to ₹150 Cr with cement dispatches growing ~10% YoY to 33.26 lakh tonnes, showing volume traction
- EV/EBITDA of ~7.9x is below the cement sector average, reflecting depressed valuation multiples
- Stock has delivered -42% returns over 1 year and -3% CAGR over 3 years, indicating sustained negative price momentum
- 5-year compounded profit growth is 0%, reflecting prolonged earnings stagnation before the recent recovery
- Poor 5-year sales CAGR of only 7% and 3-year sales CAGR of just 2% signal weak volume/pricing power historically
- Debt-to-equity ratio of ~0.67x, which may rise further as the company funds ₹2,500-3,000 Cr capacity expansion
- Return on equity of only 11% over 3 years is below cost of equity for most investors and lags sector leaders
- 5-year stock CAGR of -4% means long-term shareholders have seen capital erosion despite underlying business growth
- Cement sector faces pricing pressure and overcapacity risk as multiple players expand simultaneously in central and eastern India
- 10-year stock CAGR of just 3% suggests persistent underperformance relative to broader market indices over long periods
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- ₹6.50 dividend approved at AGM Aug 1
Shareholders approved ₹6.50 per share dividend at the 86th AGM on July 30, 2026, signaling healthy cash distribution to investors.
- Leadership continuity confirmed Aug 1
Smt. Vinita Singhania re-appointed as Chairperson & MD for five years, ensuring stable strategic direction with clean auditor reports for FY26.
- Strong FY26 turnover reported Jul 6
BRSR filing shows FY26 turnover of ₹6,879.10 crore and net worth of ₹3,929.80 crore, reflecting a solid balance sheet position.
- Q1FY27 earnings call scheduled Jul 23
Earnings call set for July 30, 2026, with President Dr. Arun Kumar Shukla and CFO Sudhir Bidkar to discuss Q1FY27 results.
- BRSR sustainability report filed Jul 6
JK Lakshmi Cement filed its Business Responsibility and Sustainability Report for FY 2025-26 as a routine compliance disclosure.
TL;DR: JK Lakshmi Cement shows steady operational footing with ₹6,879 crore turnover, healthy net worth of ₹3,930 crore, and consistent shareholder returns via a ₹6.50 dividend. No visible headwinds emerged in recent newsflow. Leadership stability and clean audit reports reinforce governance quality. The near-term catalyst is the Q1FY27 earnings call, which will clarify whether volume growth and margins are tracking well in a competitive cement market.
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 | 1,730 | 1,575 | 1,703 | 1,781 | 1,564 | 1,234 | 1,497 | 1,898 | 1,741 | 1,532 | 1,588 | 1,902 | 1,905 |
| Expenses | 1,534 | 1,357 | 1,401 | 1,445 | 1,342 | 1,153 | 1,297 | 1,546 | 1,430 | 1,324 | 1,383 | 1,626 | 1,646 |
| Operating Profit | 196 | 217 | 302 | 336 | 222 | 81 | 199 | 351 | 311 | 208 | 205 | 275 | 259 |
| OPM % | 11% | 14% | 18% | 19% | 14% | 7% | 13% | 19% | 18% | 14% | 13% | 14% | 14% |
| Other Income | 11 | 14 | 26 | 26 | -20 | 10 | 9 | 23 | 22 | 23 | 10 | 38 | 16 |
| Interest | 33 | 34 | 39 | 45 | 48 | 45 | 45 | 44 | 52 | 51 | 55 | 53 | 51 |
| Depreciation | 56 | 57 | 66 | 68 | 72 | 75 | 76 | 77 | 77 | 78 | 85 | 84 | 83 |
| PBT | 119 | 141 | 223 | 250 | 83 | -29 | 87 | 253 | 204 | 103 | 75 | 177 | 141 |
| Tax % | 33% | 32% | 33% | 35% | 31% | 8% | 14% | 31% | 27% | 22% | 24% | 29% | 23% |
| Net Profit | 80 | 96 | 150 | 162 | 57 | -31 | 75 | 175 | 150 | 81 | 57 | 125 | 108 |
| EPS in Rs | 6.67 | 7.88 | 12.21 | 13.34 | 4.83 | -2.61 | 6.37 | 14.93 | 12.76 | 6.52 | 4.58 | 9.99 | 8.7 |
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 | 2,316 | 2,635 | 2,922 | 3,748 | 4,316 | 4,364 | 4,727 | 5,420 | 6,452 | 6,788 | 6,193 | 6,763 | 6,926 |
| Expenses | 1,963 | 2,362 | 2,552 | 3,317 | 3,863 | 3,566 | 3,789 | 4,469 | 5,613 | 5,737 | 5,329 | 5,762 | 5,979 |
| Operating Profit | 353 | 273 | 370 | 432 | 454 | 798 | 939 | 951 | 839 | 1,052 | 864 | 1,000 | 947 |
| OPM % | 15% | 10% | 13% | 12% | 11% | 18% | 20% | 18% | 13% | 15% | 14% | 15% | 14% |
| Other Income | -34 | 64 | 129 | 72 | 59 | 16 | 35 | 41 | 58 | 77 | 11 | 93 | 88 |
| Interest | 94 | 222 | 244 | 264 | 253 | 225 | 192 | 142 | 133 | 150 | 181 | 211 | 210 |
| Depreciation | 115 | 166 | 175 | 207 | 211 | 220 | 225 | 223 | 228 | 246 | 299 | 324 | 329 |
| PBT | 109 | -51 | 79 | 32 | 49 | 369 | 556 | 626 | 534 | 732 | 394 | 559 | 496 |
| Tax % | 4% | -108% | -10% | -33% | 17% | 31% | 24% | 24% | 31% | 33% | 30% | 26% | — |
| Net Profit | 105 | 4 | 87 | 43 | 41 | 253 | 421 | 478 | 369 | 488 | 276 | 413 | 371 |
| EPS in Rs | 8.75 | 0.11 | 7.29 | 4.69 | 4.36 | 21.08 | 34.45 | 39.39 | 30.48 | 41.47 | 23.53 | 33.19 | 29.79 |
| Div. Payout % | 23% | 220% | 10% | 16% | 17% | 12% | 11% | 13% | 12% | 16% | 28% | 20% | — |
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 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 62 |
| Reserves | 1,279 | 1,261 | 1,342 | 1,385 | 1,426 | 1,628 | 2,036 | 2,446 | 2,745 | 3,226 | 3,495 | 3,824 |
| Borrowings | 1,949 | 2,258 | 2,687 | 2,546 | 2,135 | 1,987 | 1,672 | 1,887 | 1,880 | 2,084 | 2,614 | 2,586 |
| Other Liabilities | 936 | 912 | 1,044 | 1,111 | 1,446 | 1,489 | 1,520 | 1,534 | 1,857 | 2,209 | 2,277 | 2,077 |
| Total Liabilities | 4,223 | 4,491 | 5,132 | 5,101 | 5,066 | 5,163 | 5,286 | 5,926 | 6,541 | 7,578 | 8,445 | 8,548 |
| Fixed Assets | 2,708 | 2,851 | 3,556 | 3,627 | 3,451 | 3,585 | 3,427 | 3,536 | 3,527 | 5,076 | 5,554 | 5,361 |
| CWIP | 455 | 633 | 307 | 228 | 417 | 166 | 274 | 251 | 890 | 383 | 278 | 277 |
| Investments | 273 | 271 | 531 | 473 | 377 | 458 | 476 | 652 | 527 | 407 | 633 | 746 |
| Other Assets | 788 | 736 | 738 | 773 | 821 | 954 | 1,109 | 1,487 | 1,597 | 1,712 | 1,979 | 2,164 |
| Total Assets | 4,223 | 4,491 | 5,132 | 5,101 | 5,066 | 5,163 | 5,286 | 5,926 | 6,541 | 7,578 | 8,445 | 8,548 |
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 | 330 | 267 | 396 | 493 | 760 | 650 | 1,032 | 680 | 634 | 899 | 784 | 1,082 |
| Investing | -430 | -286 | -600 | -70 | -77 | -200 | -434 | -665 | -299 | -880 | -1,152 | -731 |
| Financing | 30 | 33 | 181 | -421 | -676 | -450 | -553 | 11 | -266 | -36 | 318 | -354 |
| Net Cash Flow | -70 | 14 | -23 | 2 | 7 | 0 | 45 | 26 | 69 | -16 | -51 | -3 |
| Free Cash Flow | -210 | -130 | -82 | 319 | 551 | 551 | 866 | 314 | -98 | -107 | 132 | 407 |
| CFO/OP | 101 | 100 | 108 | 123 | 172 | 91 | 119 | 82 | 86 | 96 | 95 | 113 |
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 | 9 | 13 | 11 | 10 | 9 | 8 | 4 | 2 | 4 | 2 | 6 | 6 |
| Inventory Days | 146 | 132 | 157 | 158 | 148 | 225 | 134 | 198 | 236 | 260 | 256 | 184 |
| Days Payable | 145 | 109 | 136 | 146 | 229 | 239 | 154 | 125 | 164 | 146 | 134 | 133 |
| Cash Conversion Cycle | 10 | 36 | 33 | 22 | -72 | -6 | -15 | 76 | 75 | 117 | 128 | 57 |
| Working Capital Days | -101 | -97 | -93 | -87 | -79 | -77 | -64 | -66 | -32 | -45 | -48 | -38 |
| ROCE % | 8% | 4% | 7% | 6% | 7% | 16% | 20% | 19% | 14% | 17% | 10% | 12% |
Documents
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Company Information
JK Lakshmi Cement Ltd, a part of the JK group , is a manufacturer and supplier of Cement and related products like RMC & AAC Blocks in different states in India.[1]