JK Lakshmi Cement Limited has informed the Exchange about Transcript
JKLAKSHMI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
JK Lakshmi Cement's Q1 FY'26 earnings call (hosted by PhillipCapital) reported a two-fold YoY rise in net profit, with industry volume growth of 5-6% and regional price increases of 8-9% in the South and 6-7% in the East, while North and West were flat to weak. Management confirmed equipment orders for the Durg (East) expansion will begin this quarter, with phase 1 (clinkerisation + grinding at Durg and Madhubani) targeted for March 2027 and the balance by March 2028; project cost was revised up from Rs.2,500 cr to Rs.3,000 cr to include additional equipment and railway sidings. The Northeast project will now be executed directly under JK Lakshmi (100% ownership) after retrieving two of three mines (about 250 mn tons of limestone reserves), saving the remaining Rs.190 cr of the earlier Rs.325 cr deal, though royalty rose from Rs.105 to Rs.251/ton. Total capex roadmap of about Rs.4,800 cr is spread across FY26-28 (Rs.1,500 cr / Rs.1,800 cr / Rs.1,500 cr), with Rs.1,000 cr of incremental debt planned this year; current net debt/EBITDA is 1.5x versus a target ceiling of 3x. The company reiterated a 30 mn ton capacity goal by 2030, guided to Rs.100-120/ton cost savings over 12-18 months from renewable energy (49% rising to 52%), TSR, AI-led manufacturing, supply chain and premiumisation, and is progressing greenfield plans at Nagore (Rajasthan) and Kutch (Gujarat).
Positive for shareholders: strong Q1 print, a clear multi-year capex and capacity roadmap, and identified margin levers support future EBITDA expansion. Near-term watchpoints include rising leverage during the build-out, softer pricing in North and West, and execution risk on the Rs.4,800 cr three-year capex programme.