JK Lakshmi Cement: Business Overview & Financial Analysis
JK Lakshmi Cement is a major Indian building materials manufacturing enterprise headquartered in New Delhi. Promoted by the Hari Shankar Singhania family under the JK Organisation banner, the company manufactures, markets, and exports Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), Ready Mix Concrete (RMC), Autoclaved Aerated Concrete (AAC) blocks, and Plaster of Paris (POP) under brand names including 'JK Lakshmi Cement', 'JK Lakshmi Pro+ Smart Cement', 'Sixer', and 'Super Sixer'. Operating integrated cement manufacturing facilities and grinding units across Rajasthan, Chhattisgarh, Gujarat, Haryana, and Odisha, JK Lakshmi Cement serves housing, infrastructure, commercial real estate, and institutional accounts across North, West, Central, and East India.
Business & Product Segment Mix of JK Lakshmi Cement (Q1 FY2027)
JK Lakshmi Cement structures its operational revenues across core grey cement, clinker sales, and value-added non-cement building products.
- Grey Cement & Clinker Sales Share – 90.3% of Total Operating Income (Rs 1,735.21 crore)
- Non-Cement Products Division Share – 9.7% of Total Operating Income (Rs 185.00 crore)
- Ready Mix Concrete (RMC) Revenue – Rs 93.00 crore
- Autoclaved Aerated Concrete (AAC) Blocks Revenue – Rs 65.00 crore
- Plaster of Paris (POP) & Wall Putty Revenue – Rs 23.00 crore
- Non-Cement Segment Operating EBITDA Margin – 5.0%
Grey cement and clinker sales form the primary top-line engine, catering to trade and non-trade retail demand. Value-added building materials including RMC and AAC blocks provide revenue diversification across commercial urban construction projects.
Operational KPIs & Sales Volume Metrics of JK Lakshmi Cement (Q1 FY2027)
JK Lakshmi Cement tracks quarterly dispatch volumes, clinker utilization rates, pricing realisations, and thermal power fuel mixes.
- Quarterly Cement Sales Volume – 35.98 lakh tonnes / 3.60 million tonnes (+8.2% YoY vs 33.26 lakh tonnes)
- Quarterly Clinker Sales Volume – 1.63 lakh tonnes
- Clinker Capacity Utilisation Rate – 95.0% operational utilisation
- Cement Capacity Utilisation Rate – 76.0% operational utilisation
- Renewable & Green Power Share – 49.0% of total energy consumption mix
- Pet Coke Thermal Fuel Share – 16.0% (Up from 14.0% in Q4 FY2026)
- Non-Trade Price Realisation Growth Rate – +9.0% sequential QoQ improvement
Cement sales volumes reached 35.98 lakh tonnes in Q1 FY2027, driven by strong non-trade demand across Northern and Western markets. Renewable and waste heat recovery power generation fulfilled 49% of total operational energy requirements, dampening thermal fuel cost inflation.
Installed Manufacturing Capacity & Facilities of JK Lakshmi Cement (Q1 FY2027)
The company manages an integrated network of primary clinker complexes, split grinding units, and captive power plants across central and northern India.
- Total Cement Production Capacity – 16.40 Million Tonnes Per Annum (MTPA)
- Integrated Clinker Production Capacity – 9.10 Million Tonnes Per Annum (MTPA)
- Primary Integrated Plant Locations – Jaykaypuram (Sirohi, Rajasthan) and Durg (Chhattisgarh)
- Split Grinding Unit Locations – Kalol (Gujarat), Surat (Gujarat), Jharli (Haryana), and Cuttack (Odisha)
- Captive Power Infrastructure – Waste Heat Recovery Systems (WHRS), thermal power, and solar installations
Operating integrated manufacturing plants in Jaykaypuram and Durg ensures continuous clinker supply to split grinding units. High clinker capacity utilization of 95% underpins manufacturing efficiency across regional grinding hubs.
Latest Quarterly Financial Performance of JK Lakshmi Cement (Q1 FY2027)
JK Lakshmi Cement recorded top-line revenue expansion alongside margin adjustments during the first quarter of FY2027.
- Consolidated Revenue from Operations – Rs 1,920.21 crore (+8.91% YoY vs Rs 1,763.14 crore in Q1 FY2026)
- Standalone Net Sales Turnover – Rs 1,904.78 crore (+9.41% YoY vs Rs 1,740.93 crore in Q1 FY2026)
- Consolidated Operating EBITDA – Rs 274.09 crore (-17.8% YoY)
- Consolidated Net Profit After Tax (PAT) – Rs 108.07 crore (-27.9% YoY vs Rs 149.88 crore in Q1 FY2026)
- Standalone Net Profit After Tax (PAT) – Rs 106.77 crore (vs Rs 151.67 crore in Q1 FY2026)
- Diluted Earnings Per Share (EPS) – Rs 8.70 per share (-28.1% YoY)
First-quarter consolidated operating revenue expanded 8.91% year-on-year to Rs 1,920.21 crore, supported by an 8.2% volume growth in cement dispatches. Operating EBITDA stood at Rs 274.09 crore as higher fuel expenses per kilocalorie impacted operating margins.
Consolidated Annual Financial Performance of JK Lakshmi Cement (FY2026)
JK Lakshmi Cement delivered full-year turnover expansion and cash generation during full financial year FY2026.
- Full Year Consolidated Operating Revenue – Rs 6,780.00 crore
- Full Year Consolidated Operating EBITDA – Rs 985.00 crore
- Full Year Consolidated Net Profit After Tax (PAT) – Rs 478.00 crore
- Operating EBITDA Margin Realisation – ~14.5%
- Return on Capital Employed (ROCE) – ~14.2%
- Return on Equity (ROE) – ~12.5%
Full-year operating turnover crossed Rs 6,700 crore in FY2026, as Net Profit After Tax reached Rs 478 crore. Stable operational performance was driven by volume growth in trade cement sales and captive power cost optimization.
Balance Sheet Structure & Financial Health of JK Lakshmi Cement (Q1 FY2027)
JK Lakshmi Cement operates a balanced financial structure backed by equity retention, managed debt gearing, and strong liquidity reserves.
- Standalone Net Debt to Equity Ratio – 0.38x (vs 0.36x in Q1 FY2026)
- Consolidated Net Debt to EBITDA Ratio – 1.69x (Well within targeted cap of 2.50x to 2.75x)
- Total Consolidated Net Worth Base – Rs 7,252.00 crore (as of June 30, 2026)
- Durg Railway Siding Project Outlay – Rs 325.00 crore (Rs 225.00 crore debt / Rs 100.00 crore internal accruals)
- ICRA & CRISIL Long-Term Credit Rating – Reaffirmed '[ICRA] AA / Stable' / '[CRISIL] AA / Stable'
Financial leverage remains low with a standalone net debt-to-equity ratio of 0.38x as of June 30, 2026. Funding the Rs 325.00 crore Durg railway siding project enhances logistics efficiency for bulk clinker dispatches.
Capex Outlay & Capacity Expansion Roadmap of JK Lakshmi Cement (FY2027–FY2030)
JK Lakshmi Cement executes a major capital expenditure plan to expand clinker capacity in Chhattisgarh, establish new grinding units, and scale renewable energy.
- Durg Greenfield Clinker Line Expansion Outlay – Rs 3,000.00 crore total project budget
- Durg Expansion Clinker & Grinding Capacity – 2.30 MTPA clinker line + 4.60 MTPA cement grinding capacity
- Durg Project Targeted Completion Timeline – March 2028
- Northeast India Expansion Capacity Target – 1.50 MTPA cement grinding unit project on track
- Sirohi Plant Thermal Substitution Project – Enhancing TSR from 4.0% to 16.0%
- Annual Planned Capex Guidance – Rs 1,500.00 crore (FY2027), Rs 2,000.00 crore (FY2028), Rs 1,500.00 crore (FY2029)
- Long-Term Corporate Capacity Goal – Scaling total capacity to 30.00 MTPA by FY2030
Capital expenditure outlays of Rs 1,500 crore in FY2027 focus on progressing the Rs 3,000 crore Durg expansion project. Scaling overall capacity to 30.00 MTPA by FY2030 unlocks long-term market share expansion across East and North India.
Strategic Outlook & Management Commentary of JK Lakshmi Cement (Q1 FY2027 Concall)
Management guidance outlines strategic priorities centered on long-term capacity targets, renewable energy scaling, and net debt governance.
- Management targets scaling total cement manufacturing capacity to 30.00 MTPA by FY2030.
- Annual capital expenditure outlays are budgeted at Rs 1,500 crore in FY2027 and Rs 2,000 crore in FY2028 for Durg and Northeast projects.
- Net debt-to-EBITDA leverage ratio will be strictly maintained below 2.50x to 2.75x across execution phases.
- Captive 42 MW solar SPV power project will deliver landed power at Rs 5.85/unit, saving Rs 1.65/unit versus grid tariffs.
- Thermal Substitution Rate (TSR) at Sirohi will be scaled to 16% to insulate operations from pet coke inflation.
- Non-trade cement pricing realisations improved 9% sequentially and are expected to remain firm in key markets.
- Capital allocation strategy will prioritize self-funded organic expansions while maintaining balance sheet strength
Management anticipates strong infrastructure spending and housing demand to support cement volume growth. Operational focus centers on executing the Durg expansion project, increasing green energy sourcing past 50%, and preserving balance sheet health.
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Sources & References
- JK Lakshmi Cement Q1 FY2027 Financial Disclosures & Press Release (August 6, 2026)
- JK Lakshmi Cement Q1 FY2027 Operational & Financial Performance Presentation (August 2026)
- JK Lakshmi Cement Q1 FY2027 Investor Feed & Analyst Call Summary (August 7, 2026)
- BSE Limited & National Stock Exchange of India (NSE) Corporate Filings for JK Lakshmi Cement
- Ticker Finology JK Lakshmi Cement Page
Disclaimer
The information presented above on JK Lakshmi Cement has been compiled from the company's Annual Reports, Investor Presentations, Earnings Call (Concall) Transcripts, official regulatory filings and the financial data available on Finology Ticker. Certain figures, classifications or comparisons may vary due to differences in accounting policies, reporting methodologies or subsequent restatements by the company. This content is intended solely for informational purposes and should not be considered as investment advice. Investors are advised to refer to the latest company filings and the updated financial data, ratios and disclosures available on this Finology Ticker JK Lakshmi Cement page before making any investment decision. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.