ETMarkets.comHDFC Securities has buy call on JK Lakshmi Cement with a target price of Rs 815. The current market price of JK Lakshmi Cement is Rs 710.05.
JK Lakshmi Cement, incorporated in the year 1938, is a Mid Cap company (having a market cap of Rs 8364.58 Crore) operating in Cement sector.
JK Lakshmi Cement key Products/Revenue Segments include Cement, Others and Other Operating Revenue for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 1878.76 Crore, up 19.21 % from last quarter Total Income of Rs 1576.06 Crore and up 16.28 % from last year same quarter Total Income of Rs 1615.66 Crore. Company has reported net profit after tax of Rs 114.83 Crore in latest quarter.
The company’s top management includes Mr.Bharat Hari Singhania, Mrs.Vinita Singhania, Mr.B V Bhargava, Dr.Raghupati Singhania, Mr.N G Khaitan, Mrs.Bhaswati Mukherjee, Dr.K N Memani, Mr.Ravi Jhunjhunwala, Mr.Arun Kumar Shukla. Company has S S Kothari Mehta & Co as its auditors. As on 31-03-2023, the company has a total of 12 Crore shares outstanding.
In Q4FY23, the company reported a subdued 3% YoY volume growth and even the EBITDA margin recovered a modest INR 40 per MT QoQ to INR 687. However, it is confident of ramping up the margin to INR 800 per MT in FY24E and towards INR 1000 per MT by H2FY25E, driven by improving geo-mix, increasing trade sales, increasing green energy share, and optimisation of the supply chain. Cooling off energy prices should also boost the margin rebound. The upcoming Udaipur expansions in FY24E should boost volume growth.
Promoter/FII Holdings
Promoters held 46.31 per cent stake in the company as of 31-Mar-2023, while FIIs owned 11.68 per cent, DIIs 27.93 per cent.
JK Lakshmi Cement, incorporated in the year 1938, is a Mid Cap company (having a market cap of Rs 8364.58 Crore) operating in Cement sector.
JK Lakshmi Cement key Products/Revenue Segments include Cement, Others and Other Operating Revenue for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 1878.76 Crore, up 19.21 % from last quarter Total Income of Rs 1576.06 Crore and up 16.28 % from last year same quarter Total Income of Rs 1615.66 Crore. Company has reported net profit after tax of Rs 114.83 Crore in latest quarter.
The company’s top management includes Mr.Bharat Hari Singhania, Mrs.Vinita Singhania, Mr.B V Bhargava, Dr.Raghupati Singhania, Mr.N G Khaitan, Mrs.Bhaswati Mukherjee, Dr.K N Memani, Mr.Ravi Jhunjhunwala, Mr.Arun Kumar Shukla. Company has S S Kothari Mehta & Co as its auditors. As on 31-03-2023, the company has a total of 12 Crore shares outstanding.
Investment Rationale
In Q4FY23, the company reported a subdued 3% YoY volume growth and even the EBITDA margin recovered a modest INR 40 per MT QoQ to INR 687. However, it is confident of ramping up the margin to INR 800 per MT in FY24E and towards INR 1000 per MT by H2FY25E, driven by improving geo-mix, increasing trade sales, increasing green energy share, and optimisation of the supply chain. Cooling off energy prices should also boost the margin rebound. The upcoming Udaipur expansions in FY24E should boost volume growth.
Promoter/FII Holdings
Promoters held 46.31 per cent stake in the company as of 31-Mar-2023, while FIIs owned 11.68 per cent, DIIs 27.93 per cent.
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