Unaudited Financial Results for the Quarter and Half Year Ended 30/09/2025 along with Limited Review Report.
JKCEMENT · price
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Awaiting price reaction for this filing.
JK Cement reported standalone revenue of ₹2,858.51 Cr for Q2 FY26, up about 18.6% YoY from ₹2,410.44 Cr in Q2 FY25, while H1 FY26 revenue grew around 19.3% to ₹6,048.59 Cr. Standalone profit after tax jumped sharply to ₹175.78 Cr in Q2 (vs ₹40.47 Cr) and ₹508.26 Cr in H1 (vs ₹238.81 Cr), but the base was low due to a prior-year exceptional item. Consolidated H1 revenue was ₹6,371.73 Cr with PAT of ₹483.50 Cr, aided by a one-time exceptional gain of ₹102.35 Cr from the Toshali Cements amalgamation. Operating margin compressed to 15.38% in Q2 from 18.40% a year ago, dragged by higher power, freight, and employee costs. Prior period numbers were restated after NCLT approved the Toshali Cements merger effective October 15, 2025. The auditor gave an unmodified opinion with two emphasis-of-matter notes — ongoing CCI penalty matter (₹128.54 Cr plus interest) and the unusual accounting treatment for the Toshali amalgamation. The Board also appointed Mr. Alok Dhir as an Additional Independent Director for a five-year term, and the Prayagraj grinding unit capacity was raised from 2 Mn TPA to 3 Mn TPA.
Strong revenue and PAT growth on a restated basis, supported by capacity expansion and a one-time amalgamation gain, are positives. However, the visible YoY margin compression and the unresolved CCI penalty matter are watchpoints. Net effect is mildly positive for shareholders, with capacity additions and merger synergies likely to support future volumes.