JK Cement Q1 Review - Strong Quarter, Fair Valuation: Dolat Capital

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Dolat Capital Report

JK Cement Ltd.’s reported Ebitda, profit after tax, Ebitda/tonne and realisation above estimates however revenue and volume in line.

The company posted strong set of numbers with 69.3%/ 85.6%/ 168.1% YoY growth in revenue/ Ebitda/adjusted profit after tax to Rs 16.3 billion/ Rs 4.0 billion/ Rs 2.1 billion in Q1 FY22 led by 71.0% YoY growth in blended volume which was partially offset by fall in blended realisation by down 1.0% YoY (up 2.6% QoQ).

We like JK Cement because of its sizable presence in higher Ebitda margin contributing white cement and putty business and healthy cash generation and return on equity.

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