JK Cement Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2021 • Grey Cement: 71.1% • White Cement & Allied Products: 28.9%
AI Sector View
AI GENERATEDConstruction Materials
Construction materials remain supported by healthy building activity. Core industries cement growth accelerated to 13.1% YoY (2026-07), while finished steel consumption was 8.0% YoY (2026-06); steel output itself was softer at 2.9% YoY (2026-07). FPI positioning is still mildly negative at INR -497 crore over 3 months to 2026-08-31, but the fundamental demand backdrop remains constructive.
PROS
- Company has consistently been profitable over the last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.18x)
- Company has delivered good sales growth of 15.7% CAGR over last 5 years
- Working capital cycle has improved - days down from 28 to -7
- Company has a consistent dividend-paying track record
- Company generates healthy free cash flow
CONS
- Recent results are weak - TTM profit is down 31.6% versus prior year
- Recurring exceptional / one-off items are inflating headline profit
- Company has delivered a poor profit growth of 7.0% over past five years
- Stock is trading at 5.6x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ULTRACEMCO | 10996.00 | 37.95 | 324029.22 | 2.18 | 2603.72 | 17.24 | 24648.20 | 15.85 | 13.25 | 20.35 |
| AMBUJACEM | 391.00 | 22.20 | 97156.35 | 0.51 | 660.00 | -31.93 | 9500.00 | -7.67 | 6.24 | 16.78 |
| SHREECEM | 22588.80 | 50.00 | 81502.08 | 0.66 | 531.12 | -17.48 | 6233.13 | 18.03 | 10.61 | 20.41 |
| JKCEMENT | 4841.40 | 39.56 | 37408.65 | 0.41 | 274.62 | -15.31 | 4031.72 | 20.26 | 14.89 | 16.07 |
| DALBHARAT | 1749.20 | 35.17 | 32809.04 | 0.51 | 192.00 | -51.39 | 3890.00 | 6.99 | 8.15 | 20.69 |
| ACC | 1246.15 | 12.26 | 23401.11 | 0.60 | 147.00 | -60.84 | 5808.00 | -4.59 | 11.60 | 7.90 |
| RAMCOCEM | 866.40 | 31.75 | 20472.37 | 0.29 | 31.24 | -63.06 | 2273.05 | 9.60 | 10.75 | 13.49 |
| JSWCEMENT | 118.80 | 21.30 | 16196.78 | 0.42 | 153.43 | 111.23 | 1896.41 | 21.58 | -4.21 | 16.41 |
| NUVOCO | 330.20 | 30.56 | 11793.30 | 0.00 | 159.63 | 19.88 | 3128.71 | 8.91 | 7.11 | 18.16 |
| INDIACEM | 346.30 | 116.03 | 10731.74 | 0.00 | 26.85 | 120.20 | 1019.42 | -0.52 | 0.30 | 15.28 |
| STARCEMENT | 195.35 | 21.36 | 7895.66 | 0.51 | 73.91 | -24.71 | 942.89 | 3.39 | 8.42 | 20.63 |
| BIRLACORPN | 825.30 | 11.48 | 6355.25 | 1.51 | 115.73 | -3.21 | 2646.45 | 7.83 | 10.88 | 12.93 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | |
| 2,355 | 2,286 | 2,310 | 2,546 | 2,321 | 2,276 | 2,438 | 2,816 | 2,665 | 2,573 | 2,906 | 3,205 | 3,665 | |
| Operating Profit | 408 | 467 | 625 | 560 | 486 | 284 | 492 | 765 | 688 | 447 | 558 | 683 | 367 |
| OPM % | 14.76% | 16.96% | 21.30% | 18.03% | 17.32% | 11.09% | 16.79% | 21.36% | 20.51% | 14.79% | 16.10% | 17.56% | 9.10% |
| 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 | 138 | 141 | 140 | 153 | 147 | 146 | 146 | 162 | 146 | 149 | 175 | 182 | 167 |
| Profit before Tax | 177 | 241 | 409 | 347 | 273 | 155 | 279 | 535 | 489 | 243 | 268 | 444 | 406 |
| Tax % | 37.41% | 26.94% | 30.61% | 36.72% | 32.34% | 12.16% | 32.08% | 32.45% | 33.71% | 34.46% | 35.29% | 25.40% | 32.38% |
| Net Profit | 0 | 0 | 0 | 0 | 185 | 136 | 190 | 361 | 324 | 159 | 174 | 331 | 275 |
| 14.48 | 22.69 | 36.73 | 28.44 | 23.98 | 16.28 | 24.54 | 46.64 | 41.99 | 20.78 | 22.60 | 43.08 | 35.91 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 4,021 | 4,854 | 5,259 | 5,802 | 6,606 | 7,991 | 9,720 | 11,556 | 11,879 | 13,722 | 14,401 | |
| 3,297 | 4,066 | 4,424 | 4,588 | 5,067 | 6,508 | 8,406 | 9,496 | 9,852 | 11,348 | 12,348 | |
| Operating Profit | 724 | 787 | 834 | 1,213 | 1,539 | 1,482 | 1,314 | 2,060 | 2,027 | 2,374 | 2,053 |
| OPM % | 18.02% | 16.22% | 15.87% | 20.92% | 23.29% | 18.55% | 13.52% | 17.82% | 17.06% | 17.30% | 14.26% |
| 81 | 111 | 80 | 85 | 113 | 143 | 87 | 140 | 275 | 147 | 130 | |
| Interest | 303 | 284 | 261 | 276 | 253 | 270 | 312 | 453 | 459 | 424 | 430 |
| Depreciation | 217 | 231 | 241 | 288 | 306 | 342 | 462 | 573 | 601 | 653 | 673 |
| Profit before Tax | 286 | 383 | 412 | 734 | 1,093 | 1,013 | 628 | 1,174 | 1,242 | 1,444 | 1,361 |
| Tax % | 39.79% | 25.48% | 36.08% | 34.18% | 35.65% | 32.94% | 33.67% | 32.69% | 29.80% | 31.57% | 31.05% |
| Net Profit | 172 | 286 | 264 | 483 | 703 | 679 | 416 | 790 | 872 | 988 | 938 |
| EPS | 25.42 | 41.41 | 36.74 | 62.56 | 90.99 | 87.90 | 54.82 | 102.35 | 111.44 | 128.44 | — |
| Dividend Payout % | 31.47% | 24.15% | 28.58% | 11.77% | 16.33% | 16.87% | 27.36% | 19.54% | 13.46% | 15.57% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 14%
- 5 Years:
- 16%
- 3 Years:
- 12%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 33%
- 5 Years:
- 7%
- 3 Years:
- 33%
STOCK PRICE CAGR
- 10 Years:
- 20%
- 5 Years:
- 7%
- 3 Years:
- 14%
- 1 Year:
- -27%
RETURN ON EQUITY
- 10 Years:
- 15%
- 5 Years:
- 14%
- 3 Years:
- 15%
- Last Year:
- 15%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 70 | 70 | 77 | 77 | 77 | 77 | 77 | 77 | 77 | 77 |
| Minority Interest | 4 | 0 | -7 | -20 | -26 | -34 | -44 | -46 | -34 | 53 |
| 1,641 | 1,905 | 2,625 | 2,950 | 3,659 | 4,248 | 4,607 | 5,290 | 6,012 | 6,960 | |
| 3,577 | 3,234 | 3,291 | 3,837 | 3,998 | 4,551 | 5,714 | 5,688 | 6,311 | 6,513 | |
| Trade Payables | 427 | 665 | 434 | 492 | 600 | 715 | 822 | 880 | 1,098 | 1,216 |
| 692 | 676 | 1,097 | 1,205 | 1,871 | 1,846 | 2,131 | 2,912 | 3,217 | 3,681 | |
| Total Liabilities | 6,411 | 6,550 | 7,516 | 8,542 | 10,180 | 11,403 | 13,307 | 14,802 | 16,682 | 18,500 |
| 4,542 | 4,443 | 4,537 | 5,554 | 5,937 | 6,544 | 8,467 | 9,298 | 9,519 | 11,586 | |
| Capital Work in Progress | 127 | 104 | 574 | 530 | 509 | 1,032 | 592 | 464 | 1,317 | 1,053 |
| 80 | 119 | 438 | 46 | 142 | 216 | 92 | 377 | 601 | 447 | |
| 561 | 590 | 624 | 690 | 757 | 1,209 | 974 | 1,182 | 1,175 | 1,525 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 566 | 787 | 760 | |
| Cash & Bank | 435 | 573 | 456 | 634 | 1,225 | 325 | 833 | 880 | 1,370 | 469 |
| 666 | 721 | 887 | 1,087 | 1,609 | 2,078 | 2,348 | 2,035 | 1,913 | 2,660 | |
| Total Assets | 6,411 | 6,550 | 7,516 | 8,542 | 10,180 | 11,403 | 13,307 | 14,802 | 16,682 | 18,500 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 835 | 983 | 802 | 1,525 | 1,789 | 1,092 | 1,539 | 1,959 | 1,939 | 1,873 | |
| Cash from Investing | -649 | -96 | -802 | -1,477 | -1,347 | -996 | -2,015 | -1,636 | -1,910 | -1,745 |
| Cash from Financing | -346 | -723 | 173 | -113 | -137 | 62 | 741 | -416 | 74 | -385 |
| -223 | 65 | 74 | -218 | 109 | -56 | 104 | -92 | 104 | -257 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-28 - JK Cement Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-14 - JK Cement Limited has informed the Exchange about order received from ROC
2026-08-12 - JK Cement Limited has informed the Exchange about General Updates -Commissioning Of J.K. White Nathdwara, Rajasthan
2026-08-06 - JK Cement Limited has informed the Exchange about Schedule of meet
2026-07-29 - JK Cement Limited has informed the Exchange about Acquisition
2026-07-21 - JK Cement Limited has informed the Exchange about Transcript
2026-07-20 - JK Cement Limited has informed the Exchange about Link of Recording
2026-07-18 - JK Cement Limited has informed the Exchange about Investor Presentation
2026-07-18 - JK Cement Limited has informed the Exchange regarding Outcome of Board Meeting held on July 18, 2026.
News
Recent coverage and analyst commentary for JKCEMENT
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JK Cement Ltd.
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