Manufactures cement and cement products in India, with a stated capacity target of 30 MT by 2030. FY26 revenue was ₹6,762.63 crore at an EBITDA margin of 16.32%. The company is expanding at Durg (integrated unit by FY28 end), Northeast (FY29) and Kutch (FY30), funded by ₹1,500-1,700 crore of capex in FY27 and ~₹2,000 crore in FY28. Its Surat plant ramped up to over 60% utilisation within eight months of commissioning, and the wider industry was operating at ~69% utilisation against 712 MT of national installed capacity. Renewable energy accounts for 46% of its energy mix, with further scaling planned via 26% stakes in solar power SPVs. The largest cost pressure is fuel — pet coke rose ~40% QoQ to ~$160/ton and global coal ~30% QoQ, translating to an expected ₹300/ton energy cost headwind in FY27. EBITDA per ton exited FY26 at ~₹730 against a ₹1,000 anchor, and AI/ML is being deployed in pyro and grinding operations. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Cement and cement products. Cyclical, asset-heavy cement manufacturing
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 5,420 | 6,452 | 6,788 | 6,193 | 6,763 |
| EBITDA (ex other income) | 924 | 839 | 1,061 | 865 | 992 |
| margin % | 17.0 | 13.0 | 15.6 | 14.0 | 14.7 |
| Owners' profit | 464 | 359 | 472 | 299 | 412 |
| EPS, as reported (₹) | 39.39 | 30.48 | 40.10 | 25.43 | 33.19 |
| ROE % · ROCE % | 18.9 · 18.2 | 13.0 · 13.6 | 14.5 · 15.7 | 8.3 · 9.5 | 10.6 · 11.6 |
| Debt / equity (x) | 0.73 | 0.65 | 0.60 | 0.69 | 0.64 |
| Cash from operations | 680 | 634 | 899 | 783 | 1,082 |
| Capex | (375) | (737) | (1,011) | (661) | (709) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,234 | 1,497 | 1,898 | 1,741 | 1,532 | 1,588 | 1,902 | 1,905 |
| Profit before tax | (20) | 89 | 246 | 204 | 103 | 75 | 187 | 140 |
| Net profit | (19) | 60 | 193 | 150 | 81 | 57 | 125 | 108 |
| EPS (₹) | (1.19) | 5.05 | 15.60 | 12.10 | 6.51 | 4.58 | 9.99 | 8.70 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ULTRATECH CEMENT LIMITED | 3,24,148 | 37.9 | 4.02 | 19.9 | 10.1 | 10.2 | 14.6 | 20.8 |
| GRASIM INDUSTRIES LTD | 2,23,350 | 39.1 | 1.31 | 17.4 | 6.1 | 3.2 | 18.1 | 16.6 |
| AMBUJA CEMENTS LTD | 97,375 | 22.1 | 1.36 | 13.7 | 7.8 | 4.3 | — | 18.3 |
| SHREE CEMENT LIMITED | 81,433 | 50.0 | 3.49 | 15.7 | 7.5 | 9.4 | 9.2 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · Notice published on special window for transfer of physical securities | compliance | minimal | — | — |
| 13 Aug 2026 · Q1 FY27: Revenue up 9%, PAT falls 30% YoY on margin pressure | results | high | — | — |
| 7 Aug 2026 · JK Lakshmi Cement Q1 FY27 call flags cost pressure, outlines capex plan | investor communications | medium | — | — |
| 6 Aug 2026 · Recording of PhillipCapital conference call shared | investor communications | low | — | — |
| 5 Aug 2026 · Investment of Rs 20.5 Cr in solar power SPV for Sirohi plant | capex operations | medium | — | — |
| 5 Aug 2026 · Q1FY27 results: Net Profit at Rs 106.77 Cr, down about 30% YoY | results | high | — | — |
| 5 Aug 2026 · JK Lakshmi Cement Q1 FY27 PAT drops 30% YoY to Rs 106.77 Cr despite revenue growth | results | high | — | — |
| 5 Aug 2026 · JK Lakshmi Cement Q1FY27 PAT falls to Rs 106.77 Cr on margin pressure | results | high | — | — |
| 31 Jul 2026 · Writ petition filed against JK Lakshmi Cement over Assam land allotment | regulatory legal | high | — | — |
| 30 Jul 2026 · 86th AGM Voting Results: All Resolutions Passed | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 23.8 |
| JK CEMENT LIMITED | 37,445 | 39.6 | 5.28 | 17.2 | 13.9 | 10.3 | 15.7 | 17.0 |
| DALMIA BHARAT LIMITED | 33,326 | 35.2 | 1.84 | 12.2 | 6.4 | 5.2 | 7.1 | 19.6 |
| ACC LIMITED | 23,444 | 12.3 | 1.14 | 6.8 | 10.4 | 9.9 | — | 8.4 |
| THE RAMCO CEMENTS LIMITED | 20,521 | 31.8 | 2.54 | 11.9 | 8.6 | 7.1 | 11.3 | 14.3 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 17.0 | 24.6 | 14 of 35 | 62% |
| P/B | 1.6 | 1.5 | 19 of 34 | 46% |
| ROCE | 8.4 | 3.7 | 12 of 37 | 69% |
| ROE | 10.6 | 7.7 | 11 of 38 | 73% |
| Debt / Equity | 0.6 | 0.4 | 27 of 38 | 30% |
| EBITDA margin | 14.4 | 13.1 | 15 of 37 | 61% |
| Revenue growth | 9.4 | 7.8 | 16 of 37 | 58% |
| Profit growth | (27.9) | (24.7) | 20 of 37 | 47% |
| Market cap | 6280 | 2005 | 14 of 38 | 65% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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