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J K Cements Q2 FY27 Share Price & Earnings Call Analysis

₹4,893.00-1.87% today
Market cap
₹37,807 Cr
P/E
38.72
ROE
15.61%
PEG
1.16
Price to sales
2.63
Debt to equity
0.88
52W high / low
₹6,332 / ₹4,701
Sales growth (5Y)
15.74%
EBITDA margin
16.21%
Net profit margin
7.43%
Promoter holding
45.66%
Sales (last year)
₹14,401 Cr

The Company is engaged in the manufacturing and selling of Cement and Cement related products with over 4 decades of experience in cement manufacturing. It is an affiliate of the multi-disciplinary industrial conglomerate JK Organisation. [1]

Guidance scorecard · Q2 FY27 call

What J K Cements Ltd's management guided
and where it ranks in Cement & Cement Products

#3of 17 in
Cement & Cement Products
Revenue20–40%MarginsFlatCapexPlannedFundraisingPlannedOrder bookWhat management said

RevenueQ2 FY27 call

20–40%
  • FY27: Paint business revenue expected around INR 500-550 crores; FY28 to add INR 150+ crores on FY27 base.
  • White cement volume growth target: previously 8-10% for full year; some shortfall expected due to Fujairah export constraints.
  • Grey cement volume growth: targeting around 23 million tons for FY27, with aspiration towards 24 million tons if conditions permit.
  • RMC (Ready-Mix Concrete): Expecting INR 100 crores revenue in Q4 FY27, up from INR 60 crores in Q2 FY27; breakeven time approximately 6 months per plant.
  • Paint business: targeting breakeven/positive EBITDA in FY27; margin goals around 3-5% EBITDA, with gradual yearly increase of 2-3%.
  • Overall cement capacity plan: aiming 50 million tons by FY30 via expansions (brownfield and greenfield).
  • Annual capex guidance post-FY27: INR 2,500 crores approximately.

2 more points from J K Cements Ltd's call on revenue

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Full Q2 FY27 analysis

MarginsQ2 FY27 call

Flat

See what J K Cements Ltd said on margins — free account, 30 seconds.

Full Q2 FY27 analysis

CapexQ2 FY27 call

Planned
  • JK Cement approved a paint plant investment under JK Maxx: 75,000 KL capacity with an overall cost of INR130 crores, part of a total INR600 crores sanctioned for paint business.
  • Future capex for paint business expected to be funded from internal accruals; no further external investment anticipated.
  • Brownfield expansions planned post-FY28: adding 11 MTPA capacity split approximately equally between Muddapur and Panna (5-6 million tons each).
  • Capex guidance for FY28 to FY30 is around INR2,500 crores annually focusing on these expansions.
  • Coal block development underway: Mahan coal block expected operational by first half FY29, aiding cost reduction.

2 more points from J K Cements Ltd's call on capex

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Full Q2 FY27 analysis

FundraisingQ2 FY27 call

Planned

See what J K Cements Ltd said on fundraising — free account, 30 seconds.

Full Q2 FY27 analysis

Order bookQ2 FY27 call

Ask what J K Cements Ltd said on the order book →

Full Q2 FY27 analysis
Full Cement & Cement Products ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Cement & Cement Products
on management's own guidance

  1. BIGBLOC Const.Good growth
    2
  2. Strong growth
    1
  3. This stockJ K Cements LtdGood growth
    3
See all potential multibaggersAll Cement & Cement Products rankings

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Cement & Cement Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Flat₹1.99L Cr34.6
2BIGBLOC Const.20–40%Up 2%+₹613 Cr364.4
3J K Cements LtdThis stock20–40%Flat₹37,843 Cr38.8
410–20%Up 2%+₹1,289 Cr—
510–20%Flat₹3.21L Cr37.3
610–20%Flat₹83,058 Cr50.9

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J K Cements Ltd announcements

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Financials of J K Cements Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

J K Cements Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +45.70%45.70%45.70%45.68%45.68%45.68%45.66%45.66%45.66%45.66%45.66%45.66%
FIIs +15.25%15.92%17.71%17.55%16.88%16.14%17.56%18.57%17.89%16.86%16.85%18.35%
DIIs +24.01%23.37%22.06%22.43%23.70%24.50%23.05%21.74%22.49%23.75%23.72%22.34%
Public +15.00%14.99%14.52%14.32%13.73%13.68%13.72%14.02%13.94%13.73%13.76%13.65%
No. of Shareholders68,18177,58079,16281,19674,52773,42876,42488,76783,05082,01680,35377,647

Pros & Cons

J K Cements Ltd

Key positives and risks surfaced from the company insights section.

Pros
  • Stock is trading at 5.14 times its book value
  • Company might be capitalizing the interest cost
Raw Insights
  • Stock is trading at 5.14 times its book value
  • Company might be capitalizing the interest cost

Financials of J K Cements Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +2,7532,9353,1062,8082,5602,9303,5813,3533,0193,4633,8884,0323,733
Expenses +2,2862,3102,5462,3212,2762,4382,8162,6652,5732,9063,2053,3843,226
Operating Profit467625560486284492765688447557682648507
OPM %17%21%18%17%11%17%21%21%15%16%18%16%14%
Other Income +2938554514045465651-2413938
Interest11511411511012311211310910511398114120
Depreciation141140153147146146162146149175182167170
Profit before tax241409347273155279535489243268444406256
Tax %27%31%37%32%12%32%32%34%34%35%25%32%34%
Net Profit +176284220185136190361324159174331275169
EPS in Rs22.6936.7328.4423.9816.2824.5446.6441.9920.7822.6043.0835.9122.39

Financials of J K Cements Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +3,4014,3624,0104,8545,2595,8026,6067,9919,72011,55611,87913,72215,116
Expenses +2,9483,8163,2844,0644,4204,5565,0226,4788,3939,4859,84511,34412,721
Operating Profit4535467267898391,2461,5851,5131,3272,0712,0342,3792,395
OPM %13%13%18%16%16%21%24%19%14%18%17%17%16%
Other Income +67507911076536711275129269142117
Interest229305303284261276253270312453459424444
Depreciation146197217231241288306342462573601653694
Profit before tax144942863834127341,0931,0136281,1741,2421,4441,374
Tax %2%41%40%25%36%34%36%33%34%33%30%32%
Net Profit +14255172286264483703679416790872988948
EPS in Rs20.548.2725.4241.4134.9964.2591.8588.9354.82102.35111.45128.45123.98
Dividend Payout %19%48%31%24%29%12%16%17%27%20%13%16%

Financials of J K Cements Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital70707070777777777777777777
Reserves1,5471,5171,6411,9052,6252,9503,6594,2484,6075,2906,0126,9607,268
Borrowings +3,2293,3233,3172,9412,9733,5033,6264,1155,2925,5526,0286,1837,490
Other Liabilities +1,2051,2751,3831,5411,7372,0112,5092,9633,3313,8834,5645,2805,588
Total Liabilities6,0516,1856,4116,4567,4138,5429,87211,40313,30714,80216,68218,50020,424
Fixed Assets +4,0744,2544,5424,4434,5375,5545,9376,5448,4679,2989,51911,58611,787
CWIP3373211271045745305091,0325924641,3171,0552,221
Investments3779801194384614221692377601447550
Other Assets +1,6031,5321,6621,7891,8632,4123,2833,6124,1554,6625,2445,4125,866
Total Assets6,0516,1856,4116,4567,4138,5429,87211,40313,30714,80216,68218,50020,424

Financials of J K Cements Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +2565807728837041,3671,5938781,3771,9591,9391,873
Cash from Investing Activity +-478-408-668-79-825-1,483-1,348-984-1,964-1,626-1,890-1,667
Cash from Financing Activity +230-193-346-723173-108-13762741-41674-385
Net Cash Flow8-21-2428152-225108-44154-83123-178
Free Cash Flow-29119938873973124834-649-226792241-376
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit63%112%115%125%96%122%113%72%116%102%105%88%

Financials of J K Cements Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days191818181817202018182420
Inventory Days345258292269257289257343223235213249
Days Payable196160222303179206204203188175199198
Cash Conversion Cycle16911688-17961007315953783871
Working Capital Days-26-33-27-21-29-14-515-4-1-23-22
ROCE %8%8%12%14%13%17%20%17%10%16%14%15%

Guidance history

How J K Cements Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q2 FY27 call →20–40%FlatPlannedPlanned—
Q1 FY27 call →10–20%FlatPlannedPlanned—
Q4 FY26 call →10–20%FlatPlannedPlanned—
Q3 FY26 call →10–20%FlatPlannedPlanned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

18out of 100

Momentum score · price trend

18 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−22.7%33%
Last 6 months−7.5%41%
Last 3 months−12.1%35%

The price is 30.8% below its all-time high of ₹7,067.5 (1 Sept 2025). Stocks more than 20% below their peak have their score halved, so 37 became 18.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For J K Cements Ltd: 0.4 × 33 + 0.4 × 41 + 0.2 × 35 = 37, halved to 18 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What J K Cements Ltd's management said in earlier quarters

Others in Cement & Cement Products this season

  • HeidelbergCement India Ltd (Q2 FY27)

    Revenue for the quarter ended September 30, 2026 was ₹5,678 million, an 11.0% increase year-on-year (YoY) from ₹5,117 million in Q2 2025. Key results statement

  • Ambuja Cements Ltd (Q2 FY27)

    Consolidated Volume Q2 FY27:** 16.5 MnT, down 1% YoY (Page 23) . Key investor presentation takeaways from Ambuja Cements Ltd's Q2 FY27 investor presentation — a

  • ACC Ltd (Q2 FY27)

    Consolidated Volume (Q2 FY27):** 16.5 MnT, down 1% YoY from 16.6 MnT in Q2 FY26 (Page 23). Key investor presentation takeaways from ACC Ltd's Q2 FY27 investor p

  • JSW Cement Ltd (Q2 FY27)

    Q2 FY27 Revenue from Operations: ₹1,912.1 crore, up 33.1% YoY (Page 24) . Key investor presentation takeaways from JSW Cement Ltd's Q2 FY27 investor presentatio

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