JK Lakshmi Cement Ltd on Thursday (May 23) reported a 41.2% year-on-year (YoY) jump in net profit at ₹162.1 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, JK Lakshmi Cement posted a net profit of ₹114.8 crore, the company said in a regulatory filing. The company’s revenue from operations declined 4.4% to ₹1,780.9 crore against ₹1,862.1 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA rose 44.7% to ₹336.6 crore in the fourth quarter of this fiscal over ₹232.6 crore in the year-ago period. The EBITDA margin stood at 18.9% in the reporting quarter against 12.5% in the fourth quarter of the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
JK Lakshmi Cement achieved capacity utilisation of 89% in Q4 of FY24 against 79% in Q3 of FY24. The company’s standalone net sales increased by 4% in FY24 and the standalone sales volume increased by 1% in the same period.
The board has recommended a final dividend of ₹4.50 per equity share of ₹5 each (90%) for the financial year ending March 31, 2024, in addition to an interim dividend of ₹2 per equity share of ₹5 each (40%) which has already been paid i.e. total dividend ₹6.50, per equity share (130%) for the financial year FY24. The final dividend, if passed at the ensuing annual general meeting, will be credited within 3-4 weeks of the AGM.
The company’s standalone net sales increased by 4% in FY24 and the standalone sales volume increased by 1% in the same period. Vinita Singhania, Chairperson and Managing Director of JK Lakshmi Cement, said, “The profitability of the company improved on account of higher volume, better product and sales mix and reduction in fuel cost.”
The results came after the close of the market hours. Shares of JK Lakshmi Cement Ltd ended at ₹795, down by ₹1.35, or 0.17%, on the BSE.
