JK Cement commissions grey cement grinding capacity in 2 states

JK Cement informed the bourses that it has successfully commissioned grey cement grinding capacity in Rajasthan and Uttar Pradesh (UP).

In Rajasthan, the company has successfully commissioned one Million Tonne Per Annum (MTPA) grey cement grinding capacity at Mangrol (near Chittorgarh). Whereas in UP, the company has commissioned 1.5 MTPA grey cement grinding capacity at Aligarh.

In Gujarat, the work of split grinding unit at Balasinor (0.7 MTPA capacity) is in an advanced stage of completion.

The company is going to come up with numbers for the quarter ended December 2019 on February 08, 2020. Looking at Q2FY20 numbers, the revenue came in at Rs 1,254.19 crore against Rs 1,100.62 crore in the corresponding quarter last year, registering 14 per cent YoY increase. EBITDA grew by 49.6 per cent YoY to Rs 254.03 crore from Rs 169.77 crore in the corresponding quarter last year, with a margin expansion of 483 bps. The EBITDA margin for the quarter stood at 20.3 per cent, compared to 15.4 per cent, in Q2FY19. PAT came in at Rs 108.79 crore against Rs 64.69 crore in the corresponding quarter last year, reporting an increase of 68.2 per cent YoY.

In the last one year, the stock has delivered a magnificent return of 93 per cent and made an all-time high of Rs 1,422.85 on January 27, 2020.

In today’s session, the stock gained nearly two per cent and made an intraday high of Rs 1,381.20 on BSE.