J.K. Cement (532644) Q4 23/24 earnings summary

Executive summary

• Achieved consolidated revenue from operations of ₹11,556 Cr in FY 2023-24, up 19% year-over-year, with net profit at ₹831 Cr, a 65% increase year-over-year.

• EBITDA rose 51% to ₹2,006 Cr, and earnings per share increased to ₹107.5, up 65% year-over-year.

• Capacity expansion continued, with installed grey cement capacity reaching 22.34 MnTPA as of March 2024, and plans to reach 30 MnTPA by FY 2025-26.

Financial highlights

• Revenue from operations: ₹11,556 Cr (up 19% year-over-year).

• EBITDA: ₹2,006 Cr (up 51% year-over-year).

• Net profit: ₹831 Cr (up 65% year-over-year).

• Earnings per share: ₹107.5 (up 65% year-over-year).

• Free cash flow: ₹1,331 Cr.

• Market capitalisation increased four-fold in five years.

Outlook and guidance

• Targeting 30 MnTPA grey cement capacity by FY 2025-26 and aiming to double current capacity by FY 2029-30.

• Focus on cost-effective expansion, maintaining net debt/EBITDA ratio below 2.

• Plans to increase green power mix to 75% and thermal substitution rate to 35% by 2030.