Any current/future new fundraising through debt or equity?

As of March 31, 2024, JK Cement's gross debt stood at Rs.4,592 crores. The company plans to spend around Rs.1,900 crores as CAPEX in FY'25 and Rs.1,800 crores in FY'26 for expansion. There is mention of a peak gross debt of around Rs.5,600 crores including expansion in FY'26. There is no explicit mention of new fundraising plans through debt or equity in the provided transcript. The focus appears to be on funding CAPEX through existing resources and managing debt within mentioned levels.

Any current/future capex/capital investment/strategic investment?

FY'25 capex expected around Rs.1,900 crores; FY'26 capex also around Rs.1,800 crores. Major projects include Panna expansion with a total cost close to Rs.2,300 crores (clinker kiln supporting 6 million tons grinding). Prayagraj unit (2 million tons) advanced and likely to be commissioned in Q2 FY'25. Panna clinker and 1 MTPA grinding expected by end of Q2 or beginning of Q3 FY'26. Bihar grinding unit (3 million tons greenfield) planned; timeline aligns with Panna completion. Hamirpur and Prayagraj grinding upgrades expected by Q3 FY'26. Investment of Rs.40 crores planned to modernize Toshali

Future growth expectations in sales/revenue/volumes?

JK Cement expects a volume growth of around 10% in FY'25, outpacing the estimated industry growth of approximately 7%. Growth is anticipated mainly from the Central India region due to new plant commissioning and incremental volumes from expansions such as the Panna clinker and grinding units, Bihar, Amritsar, and Prayagraj. The paint business targets revenues of about Rs. 300 crores in FY'25 and expects to achieve Rs. 500 crores by FY'26. EBITA losses in paint are expected to remain marginally higher in FY'25 (~ Rs. 35-40 crores) with positive EBITDA projected from FY'27 onwards. The

Future growth expectations in earnings/operating earnings/profits/EPS?

JK Cement expects around 10% volume growth in FY'25, surpassing industry growth estimated at 7%. The Central India expansion achieved 83% capacity utilization in its first year, supporting growth. Profit after tax increased 65% in FY'24; management anticipates continued growth with new plants commissioning in FY'25 and FY'26. Cost optimization plans target Rs.150-200 per ton reduction over the next two fiscal years, improving margins. Paint business aims for Rs.300 crore revenue in FY'25 and Rs.500 crore+ in FY'26, becoming EBITDA-positive from FY'27. Employee cost and branding spend

J K Cements LtdQ4 FY24Cement & Cement Products

J K Cements Ltd Q4 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹4,854P/E: 38.4Market Cap: ₹37.5K CrSector: Cement & Cement Products

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

N/A

Order

N/A

Capex

Yes

1 of 3 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

JK Cement expects a volume growth of around 10% in FY'25, outpacing the estimated industry growth of approximately 7%.
Growth is anticipated mainly from the Central India region due to new plant commissioning and incremental volumes from expansions such as the Panna clinker and grinding units, Bihar, Amritsar, and Prayagraj.
The paint business targets revenues of about Rs. 300 crores in FY'25 and expects to achieve Rs. 500 crores by FY'26.
EBITA losses in paint are expected to remain marginally higher in FY'25 (~ Rs. 35-40 crores) with positive EBITDA projected from FY'27 onwards.
The UAE business volumes increased by 34% in the past year, and management expects to maintain these volumes going forward.
The company aims to continue its growth trajectory through modernization, new mining leases, and increased capacity utilization at existing and new units.

Margin guidance

Category 3

JK Cement expects around 10% volume growth in FY'25, surpassing industry growth estimated at 7%.
The Central India expansion achieved 83% capacity utilization in its first year, supporting growth.
Profit after tax increased 65% in FY'24; management anticipates continued growth with new plants commissioning in FY'25 and FY'26.
Cost optimization plans target Rs.150-200 per ton reduction over the next two fiscal years, improving margins.
Paint business aims for Rs.300 crore revenue in FY'25 and Rs.500 crore+ in FY'26, becoming EBITDA-positive from FY'27.
Employee cost and branding spend will increase due to expansion and marketing, but expected to support sales growth.
The company targets gradual Total Shareholder Return (TSR) growth from 16% in FY'24 to 25% by FY'30.
New plants at Panna, Bihar, Hamirpur, and Prayagraj expected to come online by FY'26 enhancing production capacity and earnings.

See what J K Cements Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

As of March 31, 2024, JK Cement's gross debt stood at Rs.4,592 crores.
The company plans to spend around Rs.1,900 crores as CAPEX in FY'25 and Rs.1,800 crores in FY'26 for expansion.
There is mention of a peak gross debt of around Rs.5,600 crores including expansion in FY'26.
There is no explicit mention of new fundraising plans through debt or equity in the provided transcript.
The focus appears to be on funding CAPEX through existing resources and managing debt within mentioned levels.

Order book

The provided pages of the JK Cement Limited Q4 & FY'24 earnings call transcript do not explicitly mention details about the company's current or expected order book or pending orders. The discussion mainly revolves around: - Financial performance and cost optimization. - Capacity expansions—e.g., Prayagraj unit commissioning in Q2 FY'25, Panna line 2 expected by July-September 2025. - Growth outlook with ~10% volume growth guided for FY'25. - Business segments including white cement, wall putty market share, and UAE business performance. - Capex plans of around Rs. 1,900 crores for FY'25 primarily for expansion. - No direct reference to current or expected pending orders or order book size is provided in the available content. If you need specific order book details, those might be found in the full investor presentation or other sections of the earnings report.

See what J K Cements Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

FY'25 capex expected around Rs.1,900 crores; FY'26 capex also around Rs.1,800 crores.
Major projects include Panna expansion with a total cost close to Rs.2,300 crores (clinker kiln supporting 6 million tons grinding).
Prayagraj unit (2 million tons) advanced and likely to be commissioned in Q2 FY'25.
Panna clinker and 1 MTPA grinding expected by end of Q2 or beginning of Q3 FY'26.
Bihar grinding unit (3 million tons greenfield) planned; timeline aligns with Panna completion.
Hamirpur and Prayagraj grinding upgrades expected by Q3 FY'26.
Investment of Rs.40 crores planned to modernize Toshali Cement plant to increase production.
Mining land acquisition cost included in Panna expansion capex.
Continuous growth with multiple expansion projects backed by various state incentives.

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J K Cements Ltd Q4 FY24 Earnings Call Analysis

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