Special dividend declared: Net profit rises 105 per cent; do you own it?
The stock has experienced significant buying activity, yielding returns of more than 28 per cent in the last one year.
Today, the shares of J K Cements Limited soared 2.58 per cent. Furthermore, the scrip witnessed a spurt in volume by more than 2.39 times. The company's current market capitalization standing at Rs 30,395.70 crore.
Stock performance:
On Monday, the stock opened at Rs 3872.80, with the previous closing being Rs 3835.85. The 52-week high and low are Rs 4,565.35 and Rs 2,896.05, respectively as per BSE.
Recent Development – Q4FY24 Highlights:
In the fourth quarter of FY24, the company witnessed a notable increase in its financial performance compared to the previous quarter. Net sales rose to Rs 3017 crore, reflecting a 6 per cent increase from Q3FY24. This growth trend is even more impressive when compared to the same quarter last year, with a significant 11 per cent increase from Q4FY23.
Similarly, the EBITDA for Q4FY24 stood at Rs 560 crore, marking a 10 per cent increase from the preceding quarter. This growth is substantial compared to Q4FY23, where EBITDA was at Rs 350 crore, showcasing a remarkable 60 per cent increase year-on-year.
Furthermore, the profit after tax for Q4FY24 amounted to Rs 220 crore, indicating a robust 23 per cent increase from Q3FY24. Comparing this figure to the same quarter last year (Q4FY23), the growth is even more striking, with a remarkable 105 per cent increase in profit after tax.
Shareholders have reason to celebrate! The Board has put forward a dividend plan of Rs 15 per share, along with an additional special dividend of Rs 5 per share.
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About the Company:
With over 40 years of expertise in cement manufacturing, the Company specializes in the production and distribution of cement and related products. As an affiliate of the diversified industrial conglomerate JK Organisation, it boasts a strong legacy and a robust presence in the cement industry.
Business Development:
In terms of product distribution, Grey Cement dominates the portfolio with a commanding 77 per cent share, followed by White Cement at 23 per cent. Notably, other product categories such as Windmills, Ready Mix Concrete, Dry Mortar Products, Clinker, and Cement do not currently contribute to the product mix, indicating a focused approach towards core offerings.
Geographically, the company's operations are primarily concentrated in India, accounting for a significant 97.06 per cent share of its presence. The remaining 2.94 per cent is attributed to other regions. Within India, the company's footprint spans across various regions, including East India, North India, and Central India. This strategic distribution strategy enables the company to effectively cater to diverse market segments and capitalize on regional growth opportunities.
Furthermore, the stock has experienced significant buying activity, yielding returns of more than 28 per cent in the last one year.
Disclaimer: The article is for informational purposes only and not investment advice.