Q2 sales up 21%, but fuel costs and expansion weigh on the outlook
JKCEMENT · price
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Q2 FY27 sales rose 21% year on year to INR 3,561 crore; H1 sales rose 21% to INR 7,457 crore. Q2 earnings before interest, tax, depreciation and amortisation were INR 500 crore; H1 was INR 1,138 crore, up only 2%. Management kept 23 million tonne sales guidance but expects fuel and power costs to rise INR 80 to 100 per tonne in Q3 and Q4. It targets 50 million tonne capacity by FY30, with annual capex near INR 2,500 crore.
Volume growth supports revenue, but rising fuel costs may compress margins unless pricing improves. Net debt could peak near INR 6,000 crore.