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JK Lakshmi Cement Q2 FY27 results: net profit down 74.7% to ₹20.43 crore, revenue up 5.6%
JK Lakshmi Cement Limited reported consolidated revenue of ₹1,617 crore in Q2 FY27, up 5.6% from Q2 FY26 but down 15.1% sequentially. Net profit fell to ₹20.43 crore from ₹80.63 crore a year earlier and ₹108.07 crore in Q1 FY27, while EBITDA margin declined to 9.5% from 13.6%.
Key points
- Consolidated revenue was ₹1,617 crore, up 5.6% from Q2 FY26 and down 15.1% from Q1 FY27.
- EBITDA was ₹154.13 crore, down 26.0% year on year and 40.4% sequentially, with margin at 9.5%.
- Net profit was ₹20.43 crore, down 74.7% from Q2 FY26 and 81.1% from Q1 FY27; basic EPS was ₹1.66.
- In H1 FY27, revenue rose 7.6% to ₹3,521.7 crore, but profit after tax fell 44.3% to ₹128.5 crore.
- Net debt rose to ₹2,027 crore at 30 September 2026 from ₹1,266 crore at 31 March 2026, while operating cash flow was negative ₹103.16 crore.
How did JK Lakshmi Cement perform in Q2 FY27?
JK Lakshmi Cement’s consolidated Q2 FY27 revenue was ₹1,617 crore, compared with ₹1,532 crore in Q2 FY26 and ₹1,905 crore in Q1 FY27. EBITDA was ₹154.13 crore and margin was 9.5%, compared with ₹208.25 crore and 13.6% a year earlier, and ₹258.66 crore and 13.6% in the previous quarter.
The company reported a net profit of ₹20.43 crore and basic EPS of ₹1.66, against a net profit of ₹80.63 crore and EPS of ₹6.51 in Q2 FY26. Sequentially, net profit was ₹108.07 crore and EPS was ₹8.70. The standalone revenue was ₹1,616.92 crore and profit after tax was ₹20.88 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,617 | 1,905 | 1,532 | +5.6% | −15.1% |
| Other income | 9.96 | 15.43 | 22.67 | −56.1% | −35.5% |
| Total expenses | 1,598 | 1,780 | 1,452 | +10.1% | −10.2% |
| EBITDA | 154.13 | 258.66 | 208.25 | −26.0% | −40.4% |
| EBITDA margin | 9.5% | 13.6% | 13.6% | −4.1 pp | −4.1 pp |
| Profit before tax | 28.59 | 140.17 | 102.70 | −72.2% | −79.6% |
| Tax | 8.17 | 33.13 | 22.12 | −63.1% | −75.3% |
| Net profit | 20.43 | 108.07 | 80.63 | −74.7% | −81.1% |
| EPS (₹) | 1.66 | 8.70 | 6.51 | −74.5% | −80.9% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in JK Lakshmi Cement's costs and profit?
Total expenses rose to ₹1,598 crore from ₹1,452 crore in Q2 FY26, an increase of ₹146.55 crore or 10.1%. Cost of materials increased by ₹71.74 crore to ₹317.97 crore, other expenses increased by ₹88.10 crore to ₹1,014 crore, depreciation increased by ₹6.62 crore to ₹84.31 crore and finance costs increased by ₹0.66 crore to ₹51.19 crore; employee cost fell by ₹7.64 crore to ₹122.40 crore.
Other income fell to ₹9.96 crore from ₹22.67 crore a year earlier, while there was no exceptional item. Profit before tax fell to ₹28.59 crore from ₹102.70 crore in Q2 FY26 and ₹140.17 crore in Q1 FY27. Tax was ₹8.17 crore, compared with ₹22.12 crore a year earlier and ₹33.13 crore in the previous quarter.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 317.97 | 246.23 | +71.74 | +29.1% |
| Employee cost | 122.40 | 130.04 | −7.64 | −5.9% |
| Finance costs | 51.19 | 50.53 | +0.66 | +1.3% |
| Depreciation | 84.31 | 77.69 | +6.62 | +8.5% |
| Other expenses | 1,014 | 925.59 | +88.10 | +9.5% |
| Total expenses | 1,598 | 1,452 | +146.55 | +10.1% |
| Other income | 9.96 | 22.67 | −12.71 | −56.1% |
| Tax | 8.17 | 22.12 | −13.95 | −63.1% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, JK Lakshmi Cement reported consolidated revenue of ₹3,521.7 crore, up 7.6% from ₹3,272.7 crore in H1 FY26. Total income rose 6.9% to ₹3,547.09 crore from ₹3,317.58 crore, while profit before tax fell 45.0% to ₹168.76 crore from ₹306.58 crore.
Profit after tax declined to ₹128.5 crore in H1 FY27 from ₹230.51 crore in H1 FY26, and basic EPS fell to ₹10.36 from ₹18.61.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 3,522 | 3,273 | +7.6% |
| Profit before tax | 168.76 | 306.58 | −45.0% |
| Net profit | 128.50 | 230.51 | −44.3% |
| EPS (₹) | 10.36 | 18.61 | −44.3% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, consolidated total assets were ₹8,766.04 crore, compared with ₹8,548.11 crore at 31 March 2026. Total equity was ₹3,949.0 crore against ₹3,883.13 crore, while borrowings increased to ₹2,638.89 crore from ₹2,491.45 crore and cash and cash equivalents fell to ₹17.45 crore from ₹73.40 crore. Inventories rose to ₹986.47 crore from ₹644.85 crore.
For H1 FY27, operating cash flow was negative ₹103.16 crore, compared with ₹351.5 crore in H1 FY26. Investing cash flow was ₹85.75 crore against negative ₹261.14 crore, financing cash flow was negative ₹38.54 crore against negative ₹145.44 crore, and capital expenditure was ₹514.8 crore compared with ₹252.36 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 8,766 | 8,548 |
| Total equity | 3,949 | 3,883 |
| Borrowings | 2,639 | 2,491 |
| Cash and equivalents | 17.45 | 73.40 |
| Inventories | 986.47 | 644.85 |
| Trade receivables | 187.43 | 110.83 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −103.16 | 351.50 |
| Cash from investing | 85.75 | −261.14 |
| Cash from financing | −38.54 | −145.44 |
| Capital expenditure | 514.80 | 252.36 |
Source: Company's results filing (XBRL).
How has JK Lakshmi Cement done over the last 8 quarters?
Revenue reached its highest level in the reported series at ₹1,904.78 crore in Q1 FY27, before falling to ₹1,616.92 crore in Q2 FY27; the lowest was ₹1,496.83 crore in Q3 FY25. Revenue has risen year on year in each of the last seven quarters, according to the trend data.
EBITDA margin fell to 9.5% in Q2 FY27, its lowest level in the reported series, from 13.6% in Q2 FY26 and 18.5% at the Q4 FY25 peak. Net profit was ₹20.43 crore in Q2 FY27, compared with a peak of ₹193.17 crore in Q4 FY25 and a low of ₹57.04 crore in Q3 FY26.
What else did the company announce?
The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026 on 4 November 2026. The company also filed its Q2 FY27 investor presentation, which set out a capacity plan and expansion projects. The same-day filings did not disclose a dividend, a fund raise or any appointment.
What did JK Lakshmi Cement's management say?
Management said housing and public capital expenditure were supporting cement demand, but it also identified inflation, tighter money, energy costs, weaker rural demand and higher net debt as headwinds. It said capacity utilisation was 62% in Q2 FY27, sales volume fell 17% sequentially and fuel cost rose to ₹1.82/K.Cal. from ₹1.65 in Q1 FY27.
Management presented a grey cement capacity target of 22.6 MTPA in FY28P, 23.6 MTPA in FY29P and 25.1 MTPA in FY30P, against 18.0 MTPA in FY27. It also presented Durg Line II and Madhubani as expansion projects, along with FY30 goals of 75% blended cement, 7x water positivity and 60% green power.
Management said net debt rose to ₹2,027 crore at 30 September 2026 from ₹1,266 crore at 31 March 2026. It also set a target of 120 EVs by March 2027. The available presentation material does not include an exchange readout or recorded answers to analysts’ questions.
How did JK Lakshmi Cement shares react?
After the filing appeared after market, the stock moved up 1.4% in five minutes, 1.2% in 15 minutes and 2.4% in 30 minutes from the price at filing. By the close of the first trading session, it was down 2.7% from the pre-results close of ₹483, while the industry median rose 2.3%, leaving the stock 5.0 percentage points below the sector move.
Earlier reaction-day moves were -0.2% on 5 August 2026, -2.7% on 20 May 2026, -0.3% on 3 February 2026 and 0.8% on 6 November 2025. The next-day and five-day reaction figures were not available.
| After the filing | Stock | Cement & Cement Products median |
|---|---|---|
| 5 minutes | +1.4% | |
| 15 minutes | +1.2% | |
| 30 minutes | +2.4% | |
| Reaction day | −2.7% | +2.3% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 5 August 2026 | −0.2% |
| 20 May 2026 | −2.7% |
| 3 February 2026 | −0.3% |
| 6 November 2025 | +0.8% |
| 1 August 2025 | −2.2% |
| 27 May 2025 | −2.4% |
| 6 February 2025 | −2.5% |
| 6 November 2024 | −2.9% |
Source: MarketPing price-reaction measurement.
How did other Cement & Cement Products companies do?
Twenty other Cement & Cement Products companies had filed for the quarter by 6 November 2026. Their median revenue growth was 12.2%, compared with JK Lakshmi Cement’s 5.6% revenue growth in the quarter; 14 peers grew faster than the company and six grew slower.
Profit was compared across 20 peers, of which nine reported higher profit. The peer comparison did not provide the median profit growth or the number of peers whose profit increased faster or slower than JK Lakshmi Cement’s.
| JK Lakshmi Cement revenue growth (YoY) | +5.6% |
|---|---|
| Median of 20 other Cement & Cement Products companies | +12.2% |
| Companies with slower revenue growth than JK Lakshmi Cement | 6 of 20 |
| Companies with faster revenue growth than JK Lakshmi Cement | 14 of 20 |
| Companies whose net profit rose | 9 of 20 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was JK Lakshmi Cement's revenue in Q2 FY27?
Revenue from operations was ₹1,617 crore, up 5.6% from ₹1,532 crore in Q2 FY26 (consolidated).
Did JK Lakshmi Cement make a profit in Q2 FY27?
Yes. Net profit was ₹20.43 crore, against a net profit of ₹80.63 crore in Q2 FY26.
What was JK Lakshmi Cement's EPS in Q2 FY27?
Basic earnings per share were ₹1.66, against ₹6.51 in Q2 FY26.
How did JK Lakshmi Cement shares react to the Q2 FY27 results?
On the reaction day the stock moved −2.7% from the previous close; the median Cement & Cement Products stock moved +2.3%.
When did JK Lakshmi Cement announce its Q2 FY27 results?
On 4 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Consider And Approve The Unaudited Financial Results Of The Company For The Quarter And Half Year Ended 30Th September 2026 (BSE, 23 October 2026) · PDF
- Outcome of Board Meeting (NSE, 4 November 2026) · PDF
- The investor presentation (4 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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