JK Lakshmi Cement Reports Robust Q4 and FY 2023-24 Result, Net Profit jumps 28% to Rs.424.32 Crores in FY24

Mumbai: JK Lakshmi Cement Limited (JKLC) today announced its financial results for the fourth quarter (January-March) of the fiscal year 2023-24, along with full financial year 2023-24, demonstrating robust operational performance and a steadfast commitment to sustainability.


  • The Standalone Net Sales increased by 4% in FY’24.
  • The Standalone Sales Volume increased by 1% in FY’24.
  • The Company achieved a Capacity Utilization of 89% in Q4FY24 Vs 79% in Q3FY24.


Commenting on the company’s results, Smt. Vinita Singhania, Chairperson & Managing Director, JK Lakshmi Cement Ltd., stated, “We witnessed robust performance in the fourth quarter. The Profitability of the Company improved on the account of higher volume, better product & sales mix and reduction in fuel cost. At JK Lakshmi Cement, our commitment to sustainability and innovation continues to drive our strategic initiatives. The promising forecast for housing real estate sales, along with the government’s sustained focus on enhancing logistics infrastructure, presents tremendous opportunities for us. These developments allow us to contribute to national advancement while continuing to lead in sustainable cement production.”


Company’s vision on Sustainability and increasing capacity is manifesting in key initiatives and achievements this year.


~        The Company is implementing a Project for enhancing its TSR from 4% to 16% in a phased manner at its Sirohi Cement Plant as a part of its Green Initiatives.

~        The Company is also enhancing its WHR Capacity by 3.5 MW at Sirohi, which will come into stream in First Quarter of FY’25.

~        The Company has tied-up under the Captive Route, sourcing of Solar Power of 40 MW for its Integrated Cement Plant at Durg in Chhattisgarh. With this Sourcing, the Share of Renewable Power at Durg Cement Plant has increased from 36% to 80% from October 2023.


~        The Company’s Subsidiary, Udaipur Cement Works Ltd (UCWL) had successfully commissioned its second Clinker Line of 1.50 Million Tonnes Per Annum in October 2023, whereby its Clinker Capacity has doubled to 3 Million Tonnes Per Annum. The Cement Grinding Capacity of 2.5 Million Tonnes Per Annum was commissioned in March 2024.

~        The Company is in the process of expanding its Cement Grinding capacity at its Surat Grinding Unit from 1.35 Million Tonnes to 2.7 Million Tonnes. The Project is likely to cost Rs.225 Crores to be funded through Term Loans from Bank of Rs. 150 Crore & balance through Internal Accruals.

~        The Company is expanding the Clinker Capacity at its integrated Cement Plant at Durg in Chhattisgarh by putting up an Additional Clinker Line of 2.3 Million Tonnes Per Annum & Four Cement Grinding Units aggregating to 4.6 Million Tonnes Per Annum at Durg in Chhattisgarh and also Three Split Location Cement Grinding Units with aggregate Cement Grinding Capacity of 3.4 Million Tonnes Per Annum at Prayagraj in Uttar Pradesh, Madhubani in Bihar & Patratu in Jharkhand. The Project is likely to cost Rs.2500 Crores & is proposed to be funded through Term Loans from Banks of Rs.1750 Crores & balance through Internal Accruals.

~        The Company is also putting up a Railway Siding at its Durg Cement Plant at a Cost of Rs.325 Crores to be funded through a Debt of Rs. 225 Crores & Balance from Internal Accruals.


~        During the Quarter, the Company acquired 85% stake in M/s. Agrani Cement Private Limited at a total Purchase Consideration of Rs.325.11 Crores. Consequent to this Acquisition, M/s. Trivikram Cement Private Limited, M/s. Mahabal Cement Private Limited & M/s. Avichal Cement Private Limited, wholly owned subsidiaries (WOS) of M/s. Agrani Cement Private Limited have become the step-down subsidiaries of the Company. These step-down subsidiaries together with M/s. Agrani Cement Private Limited (jointly called as “Trivikram Consortium”) have been jointly granted Mining Rights having Limestone Reserves of approx. 335 Million Tonnes.


The cement industry in India has experienced a robust growth trajectory, underscored by the government’s intensified focus on infrastructure development and the revitalization of the real estate sector. Anticipated to sustain its vigour, the demand for cement is poised to remain robust, propelled by governmental initiatives aimed at significant infrastructure projects, including the construction of highways, railways, and affordable housing.

The Government of India continues to champion infrastructure development as a pivotal catalyst for economic growth. In the recent Union Budget for 2024-25, substantial allocations have been directed towards pivotal infrastructure endeavours:

  • ₹2.5 trillion designated for the construction of highways and expressways.
  • ₹1.5 trillion allocated for the enhancement of the railway infrastructure, including the expansion of the metro rail network.
  • ₹1 trillion earmarked for the construction of affordable housing units under the Pradhan Mantri Awas Yojana (PMAY).



Particulars Units Jan-Mar 24 Quarter Jan-Mar 23 Quarter Apr-March 24 

Full Year

Apr-March 23 

Full Year

Sales Volume Lac Tonnes 25.51 26.65   96.08 94.79
Net Sales Rs. Crores 1647.78 1728.87   6319.77 6071.05
PBIDT Rs. Crores 293.44 206.89   927.76 766.50
PBT Rs. Crores 223.32 137.27   645.56 481.46
PAT Rs. Crores 142.35 97.32   424.32 330.77
Net Debt to EBIDTA Times       0.22 (0.10)
Net Debt Equity Times       0.07 (0.03)


Consolidated Financial Results for the Quarter & Twelve Months ended 31st March 2024.
Particulars Units Jan-Mar 24 Quarter Jan-Mar 23 Quarter   Apr-March 24 

Full Year

Apr-March 23 

Full Year

Sales Volume Lac Tonnes 32.62 32.34   119.89 114.18
Net Sales Rs. Crores 1780.85 1862.07   6788.47 6451.50
PBIDT Rs. Crores 362.82 249.35   1120.26 896.23
PBT Rs. Crores 250.00 161.81   732.49 534.48
PAT Rs. Crores 162.06 114.83   487.87 369.11
Net Debt to EBIDTA Times       1.23 1.07
Net Debt Equity Times       0.43 0.34

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