J.K. Cement (532644) Q1 26/27 earnings summary

Executive summary

• Achieved robust year-on-year volume growth: grey cement up 19%, white cement up 29%, with consolidated volume growth of 18%.

• Net sales rose 23% year-on-year to INR 3,786 crore standalone and 22% to INR 4,032 crore consolidated.

• EBITDA margin declined to 16.9% from 21.9% last year, impacted by higher input and maintenance costs.

• Profit after tax was INR 291 crore standalone, down from INR 333 crore year-on-year; consolidated profit after tax at INR 275 crore.

• Board approved unaudited financial results for Q1 FY27, with statutory auditors issuing an unmodified opinion.

Financial highlights

• Standalone revenue from operations for Q1 FY27 was ₹3,866.12 crore, up from ₹3,190.08 crore in Q1 FY26.

• Standalone EBITDA at INR 639 crore, down from INR 673 crore last year; EBITDA margin at 16.9%.

• Consolidated EBITDA at INR 648 crore, compared to INR 688 crore last year.

• EPS for the quarter at INR 37.66 standalone and INR 35.91 consolidated, both lower year-over-year.

• EBITDA per tonne dropped 20% year-over-year to ₹982.

Outlook and guidance

• Targeting 50 MTPA cement capacity by FY30, with major greenfield and brownfield expansions underway.

• Double-digit volume growth expected for the fiscal year, targeting 22.5–23 million tonnes in grey cement.

• Paint business expected to achieve INR 500–550 crore revenue in FY 2027, with 5–7% EBITDA margin targeted for FY 2028.

• RMC business projected to reach INR 250–300 crore revenue in FY 2027.

• Planned capex of ₹5,000–6,000 crore over the next two years to support capacity growth.