JK Cement posts 65% YoY jump in PAT

JK Cement has reported revenue from operations of INR109,180m (US$1308m) in FY2023-24 (ended 31 March 2024), up 17 per cent YoY. Net sales over the same period came in at INR105,630m, marking a 16 per cent YoY expansion, while profit after tax jumped 65 per cent YoY to reach INR8310m. 

Over the 12-month period the company produced 18.53Mt of grey and white cement (including wall putty), up 17 per cent YoY, giving a utilisation rate (excluding Toshali and Fujairah) of 81 per cent. In terms of revenue, 81 per cent comes from grey cement with the remainder from white cement (including value-added products). According to the annual report, JK Cement now has 82.3MW of installed waster heat recovery system installed. 

“We have achieved an unprecedented level of EBITDA and profitability as a company. This year was about reaching financial milestones and gaining financial milestones but also about achieving a broad spectrum of strategic goals and objectives that set the foundation for our future growth. During the year, we achieved significant growth in our profitability, on the back of efficient capacity expansion and ramp up, enabling us to benchmark ourselves with industry leading EBITDA per tonne performance,” said Madhavkrishna Singhania, CEO, JK Cement. 

Looking ahead, the company is reportedly on track to expand its capacity from the current 22.34Mta to 30Mta by FY25-26 with expansion at Panna and Hamirpur, and new units at Prayagraj and Bihar. Over the next 4-5 years, it has also created a roadmap to double its existing capacity with brownfield and greenfield expansions.