JK Cement Limited Earnings Summary — Q1 FY2027
JK Cement Reports Consolidated Net Profit of ₹274.62 Crores for Q1 FY2027
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 4 consecutive quarters.
- Revenue of ₹4,032 Cr is 20.3% higher year-on-year.
- Revenue has compounded at 12.3% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit of ₹277 Cr is 14.5% below the same quarter last year.
- Profit growth is trailing revenue growth this quarter.
- Net profit has compounded at 10.9% annualised across the period.
- Operating margin stands at 16.1% in Q1 FY2027.
- Operating margin compressed by 444 bps year-on-year.
- Over the last two years operating margin has contracted by 125 bps.
- PBT margin is 10.1%.
- Expenses grew 27.0% against revenue growth of 20.3%.
- Operating profit of ₹648 Cr is 5.8% lower year-on-year.
- Operating leverage has been under pressure recently.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 55/100 (Healthy) on the latest 10 quarters.
- Business momentum has softened and warrants monitoring.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 4,032 | 3,888 | 3,463 | 3,019 | 3,353 | 3,581 | 2,930 | 2,560 | 2,808 | 3,106 |
| Expenses | Improving | 3,384 | 3,205 | 2,906 | 2,573 | 2,665 | 2,816 | 2,438 | 2,276 | 2,321 | 2,546 |
| Operating Profit | Improving | 648 | 682 | 557 | 447 | 688 | 765 | 492 | 284 | 486 | 560 |
| Operating Margin | Stable | 16.1% | 17.6% | 16.1% | 14.8% | 20.5% | 21.4% | 16.8% | 11.1% | 17.3% | 18.0% |
| Other Income | Volatile | 39 | 41 | -2 | 51 | 56 | 46 | 45 | 140 | 45 | 55 |
| Interest | Stable | 114 | 98 | 113 | 105 | 109 | 113 | 112 | 123 | 111 | 115 |
| Depreciation | Stable | 167 | 182 | 175 | 149 | 146 | 162 | 146 | 146 | 147 | 153 |
| Profit Before Tax | Volatile | 406 | 444 | 268 | 243 | 489 | 535 | 279 | 155 | 273 | 347 |
| Tax | Volatile | 132 | 113 | 95 | 84 | 165 | 174 | 89 | 19 | 88 | 128 |
| Net Profit | Volatile | 277 | 333 | 175 | 161 | 324 | 360 | 190 | 126 | 185 | 220 |
| Net Margin | Accelerating | 6.9% | 8.6% | 5.0% | 5.3% | 9.7% | 10.1% | 6.5% | 4.9% | 6.6% | 7.1% |
Key Takeaways
- Revenue grew by 20.26% YoY to ₹4,031.72 crores, led by capacity expansions in Central India and organic growth.
- Consolidated Net Profit declined 17% QoQ to ₹274.62 crores, primarily impacted by higher finance costs and operational overheads.
- Operating margins contracted to 16.07% from 17.56% in the previous quarter, reflecting cost pressures in fuel and freight.
- The company successfully integrated TCPL (Toshali Cements) with results restated from January 1, 2024.
- Cement capacity expansion continues with the commissioning of the Buxar unit in Bihar and capacity increase at Muddapur.
- Net debt is managed within prudent limits with a Net debt/EBITDA ratio of 1.45x as of year-end FY26.
- On-going litigation with CCI persists without provision, based on legal counsel and stay orders from the Supreme Court.
Management Guidance
Management expects to commission the new 6 lakh ton Wall Putty plant at Nathdwara by September 2026. Capex for FY27 is projected between ₹3,500 and ₹4,000 crores as work accelerates on the 7 million ton Jaisalmer project slated for H1 FY28.
Sentiment Shift
Stable
Revenue growth remains robust due to capacity addition, but profitability is normalizing from peak levels due to heightened competitive intensity and cost inflation.
Outlook
The company is transitioning toward a major expansion phase in Rajasthan (Jaisalmer) while consolidating its newly commissioned capacity in Central India. Anticipated incentive accruals of approx ₹250 crores in FY27 should support cash flows.
From the Annual Report (Key Quotes)
“We have commissioned the greenfield expansion at Buxar... total 6 million ton capacity expansion taken up in Central India get commissioned.”
“The company, backed by legal opinion, believes it has a good case [against CCI penalties] and accordingly no provision has been considered.”
“We feel that even they [competition] will be able to... only from beginning of Q3 that you should start seeing some material coming from the Jaypee plants.”
Official Quarterly Documents
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This summary is AI-generated from JK Cement Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.