JK Lakshmi Cement LimitedQ1 FY27 Results & Financial Update
JK Lakshmi Cement Limited: Q1 FY27 consolidated results and company financials – revenue ₹1,904.78 Cr, PAT ₹108.07 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore JK Lakshmi Cement Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
JK Lakshmi Cement reported consolidated total income of Rs 1,920.21 crores for the first quarter ended June 30, 2026, alongside consolidated revenue from operations of Rs 1,904.78 crores.
On a standalone basis, the company achieved a sales volume expansion during the quarter, reaching 35.98 lakh tonnes compared to 33.26 lakh tonnes in the corresponding quarter of the previous financial year.
Consolidated profit before tax (PBT) for Q1 FY27 stood at Rs 140.17 crores, while consolidated profit after tax (PAT) attributable to owners and total operations reached Rs 108.07 crores, supported by other income of Rs 15.43 crores.
Financial charges for the quarter included finance costs of Rs 51.11 crores and depreciation and amortization expenses of Rs 82.81 crores, alongside tax expenses totaling Rs 33.13 crores.
Standalone financial highlights indicate PBIDT of Rs 273.77 crores, PBT of Rs 139.88 crores, and net profit of Rs 106.77 crores, accompanied by standalone net debt-to-EBITDA of 1.38x and a net debt-to-equity ratio of 0.38x.
Operational sustainability initiatives progressed during the quarter, with renewable green power accounting for 49% of the company's total power mix, while implementation advanced on a project to elevate thermal substitution rate (TSR) from 4% to 16% in a phased manner at the Sirohi plant.
Management noted that industry demand remains supported by ongoing infrastructure spending and institutional project activity, even as fuel cost volatility tied to Middle Eastern geopolitical developments continues to influence the operating cost environment.
01 · Business model
What does JK Lakshmi Cement do?
JK Lakshmi Cement Limited, a flagship company of the established JK Organisation spanning over 140 years, operates extensively in the Indian cement sector with a four-decade operational history and an annual turnover exceeding Rs 6,000 crores.
The company maintains a formidable market presence across Northern, Western, and Eastern India, underpinned by modern, fully computerized integrated cement manufacturing plants located at Jaykaypuram in Sirohi (Rajasthan), Dabok in Udaipur (Rajasthan), and Ahiwara in Drug (Chhattisgarh).
Complementing its primary integrated plants, the company operates four split-location grinding units situated in Kalol and Surat (Gujarat), Jhamri in Jhajjar (Haryana), and Cuttack (Odisha), bringing its total combined cement manufacturing capacity to approximately 18 million tonnes per annum.
Beyond traditional grey cement, the company offers specialized Smart Business Solution Products (SBS) including Ready Mix Concrete (RMC), JK Lakshmi Gypsum Plaster, Wall Putty, Primer, Adhesives, and Fly Ash Blocks, supporting its long-term vision to reach 30 million tonnes of cement capacity by 2030.
02 · Historical context
What shaped the business before this quarter
Having started commercial operations in 1982, the company has expanded its manufacturing footprint to a combined capacity of approximately 18 million tonnes per annum across multiple integrated and split-location grinding units.
During the financial year ended March 31, 2024, the company acquired an 85% equity stake in Agrani Cement Private Limited and its three subsidiaries, collectively known as the Trivikram Consortium, for Rs 325.11 crores to secure limestone mining rights in Assam representing roughly 335 million tonnes of reserves.
During the year ended March 31, 2026, Assam Mineral Development Corporation Limited (AMDCL) cancelled the MDO contract citing non-compliance regarding the induction of the company as an equity partner, prompting the company to derecognize the Rs 325 crore investment, write back unpaid liabilities of Rs 196 crores, recognize Rs 130 crores as claims recoverable, and file arbitration proceedings before the Delhi High Court.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹1,904.78 Cr |
| Total income | ₹1,920.21 Cr |
| Profit before tax | ₹140.17 Cr |
| Profit after tax | ₹108.07 Cr |
| EPS | ₹8.70 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 5.7% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 7.4% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹15.43 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Standalone sales volume rose to 35.98 lakh tonnes in Q1 FY27 from 33.26 lakh tonnes in the corresponding quarter of the previous year.
What drove margins
Power and fuel costs constituted Rs 428.03 crores during the quarter, reflecting ongoing industry sensitivity to pet coke and crude oil price volatility linked to Middle Eastern geopolitical tensions.
Transport, clearing, and forwarding charges stood at Rs 413.99 crores for the consolidated entity during Q1 FY27.
Cost of materials consumed was reported at Rs 320.05 crores, alongside purchase of stock-in-trade of Rs 38.65 crores and employee benefit expenses of Rs 127.58 crores.
05 · Demand, customers & order book
Where demand is coming from
Demand during the quarter continued to draw support from sustained government infrastructure spending and institutional construction activity across target markets.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company operates exclusively in a single primary business segment, namely 'Cementitious Materials', encompassing grey cement and value-added smart business solution products.
Geography and market mix
The company maintains a robust commercial footprint centered primarily across Northern, Western, and Eastern regional markets in India.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Projects, capex and execution
The company is constructing a railway siding at its Durg Cement Plant at an estimated cost of Rs 325 crores, funded by Rs 225 crores in debt and the remainder through internal accruals, with the first phase already completed.
The company is expanding capacity at Durg with a new 2.30 million tonnes per annum clinkerization line and three grinding units totaling 4.6 million tonnes per annum of cement capacity, requiring an estimated outlay of Rs 3,000 crores funded via debt and internal accruals, with completion expected by March 2028.
08 · Strategy & new businesses
How the company is trying to change its growth mix
The company continues to promote value-added offerings under its Smart Business Solutions (SBS) portfolio, including Ready Mix Concrete (RMC), gypsum plaster, wall putty, primer, adhesives, and fly ash blocks.
09 · Reported developments
What changed operationally
Several operating units received notable safety and corporate social responsibility accolades, including International Safety Awards from the British Safety Council for the Jhajjar and Surat units.
10 · Pressure points & risks
What is not going smoothly
Management highlighted that ongoing geopolitical tensions in the Middle East continue to introduce cost uncertainty by influencing pet coke and crude oil price movements.
11 · Items worth noticing
The line items that can distort a quick read
Following the MDO contract cancellation by AMDCL in prior periods, the company continues to carry Rs 130 crores as claims recoverable under exceptional items while pursuing legal recourse.
12 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
Standalone leverage metrics as of June 30, 2026, stood at a net debt-to-EBITDA ratio of 1.38x and a net debt-to-equity ratio of 0.38x.
13 · Management guidance & targets
What management is targeting from here
Management maintains its strategic vision of reaching a total cement manufacturing capacity of 30 million tonnes by 2030.
14 · Beyond the numbers
What changed beyond the numbers
Reported update
Corporate Accolades
JK Lakshmi Cement and its regional units received multiple recognitions during the period, including the Excellence in Livelihood and Economic Development Award at the CSR & Sustainability Connect Summit 2026 and state-level education and employer brand awards for the Sirohi unit.
15 · Key Q&A
The quarter, answered directly
What does JK Lakshmi Cement do?
JK Lakshmi Cement Limited, a flagship company of the established JK Organisation spanning over 140 years, operates extensively in the Indian cement sector with a four-decade operational history and an annual turnover exceeding Rs 6,000 crores.
What is the clearest takeaway from Q1 FY27?
JK Lakshmi Cement reported consolidated total income of Rs 1,920.21 crores for the first quarter ended June 30, 2026, alongside consolidated revenue from operations of Rs 1,904.78 crores.
What drove revenue or demand?
Standalone sales volume rose to 35.98 lakh tonnes in Q1 FY27 from 33.26 lakh tonnes in the corresponding quarter of the previous year.
What mattered most for margins or profitability?
Power and fuel costs constituted Rs 428.03 crores during the quarter, reflecting ongoing industry sensitivity to pet coke and crude oil price volatility linked to Middle Eastern geopolitical tensions.
What changed operationally beyond the headline numbers?
The company is constructing a railway siding at its Durg Cement Plant at an estimated cost of Rs 325 crores, funded by Rs 225 crores in debt and the remainder through internal accruals, with the first phase already completed.
What is management guiding or targeting from here?
Management maintains its strategic vision of reaching a total cement manufacturing capacity of 30 million tonnes by 2030.
16 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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17 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Arbitration Proceedings: Monitor the Delhi High Court proceedings under Section 9 of the Arbitration and Conciliation Act listed for hearing on November 5, 2026, regarding the recovery of the Rs 130 crore claim amount.
- 02
Durg Expansion Progress: Track execution milestones and capital expenditure deployment for the ongoing Rs 3,000 crore Durg capacity expansion project slated for completion by March 2028.
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