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JKLAKSHMI - JK Lakshmi Cem.

📊 NSE: JKLAKSHMI 🏢 Cement - North India 📅 Last Updated: 12/14/2025 8:40

📢 Recent Corporate Announcements

JK Lakshmi Cement Named Preferred Bidder for 200-Hectare Limestone Block in Assam

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 13 Mar 2026, 06:05 PM

JK Lakshmi Cement has been declared the preferred bidder for the New Umrangso Limestone Block in Assam following a government-conducted e-auction. The block spans a significant area of 200 hectares, which will provide the company with long-term raw material security for its cement operations. This acquisition is strategically important for strengthening the company's footprint in the Northeast Indian market. Securing limestone reserves is a critical factor for sustainable growth and potential future capacity expansions in the region.

Declared Preferred Bidder for the New Umrangso Limestone Block in Assam via e-auction.
The limestone block covers a total area of 200 hectares.
Secures critical raw material supply for long-term cement production requirements.
Strengthens the company's strategic positioning and resource base in Northeast India.

💡 Investors should view this as a positive development for long-term mineral security. Monitor for further updates regarding the formal grant of the mining lease and any associated capital expenditure plans for the region.

JK Lakshmi Cement to Acquire 77.96% Stake in NECEM Cements for ₹19 Crore

🟢 POSITIVE ⭐ 8/10

M&A 📅 12 Mar 2026, 07:59 PM

JK Lakshmi Cement has approved the acquisition of a 77.96% stake in NECEM Cements Ltd for a cash consideration of ₹19 crore plus the takeover of certain liabilities. This strategic acquisition provides the company with captive mining rights in Assam, including approximately 40 million tonnes of limestone reserves. The company plans to utilize the acquired land and reserves to set up a 0.95 million tonne clinkerisation and grinding unit. While NECEM is currently a small, loss-making entity with FY25 revenue of ₹1.56 crore, the deal is a key step toward JK Lakshmi's long-term goal of reaching 30 million tonnes capacity.

Acquisition of 77.96% equity stake for ₹19 crore cash plus past liabilities
Secures ~40 million tonnes of limestone reserves and captive mining rights in Assam
Enables setup of 0.95 MTPA Clinkerisation and 0.95 MTPA Cement Grinding units
Target entity NECEM Cements reported FY25 revenue of ₹1.56 crore and a loss of ₹4.59 crore
Transaction is expected to be completed on or before March 31, 2026

💡 Investors should view this as a positive long-term strategic move to establish a footprint in the North East and secure raw material reserves. Monitor the timeline for the commencement of the new 0.95 MTPA capacity and the total quantum of liabilities taken over.

JK Lakshmi Cement Declared Preferred Bidder for 405-Hectare Limestone Block in Assam

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 12 Mar 2026, 07:23 PM

JK Lakshmi Cement has been declared the 'Preferred Bidder' for the Juipahar New Umrangso Limestone Block (A and B) in Assam through an e-auction. The limestone block covers a significant area of 405 hectares, which will provide long-term raw material security for the company. This strategic move is aimed at strengthening the company's footprint in the Northeast region of India. Securing such reserves is a critical step for future capacity expansion and operational sustainability.

Declared Preferred Bidder for the Juipahar New Umrangso Limestone Block (A and B) in Assam.
The mining lease area spans across a total of 405 hectares.
Acquisition secured via an e-auction conducted by the Government of Assam.
Strengthens raw material pipeline for long-term cement production capacity.

💡 Investors should view this as a positive development for the company's long-term growth and resource security. Monitor for further updates on the formal grant of the mining lease and any subsequent CAPEX plans for the Northeast region.

JK Lakshmi Cement's MDO Agreement for 630-Hectare Assam Mine Cancelled

🔴 NEGATIVE ⭐ 8/10

REGULATORY 📅 06 Feb 2026, 07:23 PM

JK Lakshmi Cement has received a cancellation notice for its Mine Developer & Operator (MDO) agreement with Assam Mineral Development Corporation (AMDCL). The agreement, signed in November 2025, covered 630 hectares of limestone mines intended to support a new integrated greenfield cement plant in Assam. The Assam government has decided to revert these blocks for a fresh auction process, effectively halting the current project. The company has stated it will legally challenge this cancellation notice to protect its interests.

Cancellation of MDO agreement for 630 hectares (430ha + 200ha) of limestone mines at New Umrangso.
The project involved setting up an integrated greenfield cement manufacturing plant in Assam.
Agreement was originally signed on November 28, 2025, following H1 bidder status on July 4, 2025.
Government of Assam directed the reversion of blocks for a fresh auction by DGM, Assam.
Company expects delays in project implementation and plans to challenge the notice legally.

💡 Investors should monitor the outcome of the legal challenge as this project was a key part of the company's expansion strategy. The cancellation creates significant uncertainty regarding the company's growth timeline in the Northeast region.

JK Lakshmi Cement Q3 FY26: Trade Share Dips to 49%, ₹3,000 Cr Durg Expansion on Track

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 06 Feb 2026, 02:56 PM

JK Lakshmi Cement reported a shift in its sales mix during Q3 FY26, with trade sales falling to 49% from 53% due to higher volumes in the Gujarat market and the ramp-up of the new Surat grinding unit. Realizations faced a sequential decline of approximately 10% following GST-related pricing adjustments and a higher non-trade mix, though management expects a recovery in Q4 driven by strong demand. The company is progressing with its ₹3,000 crore Durg Line-2 expansion, with ₹400 crore CAPEX planned for the current fiscal year and full completion targeted by March 2028.

Trade sales share decreased to 49% in Q3 FY26 from 53% in the previous quarter due to Gujarat market dynamics.
Realizations declined by approximately 10% QoQ, impacted by GST reduction and higher institutional sales.
Clinker utilization remained robust at 90% with clinker sales reaching 151,000 tonnes for the quarter.
The company has incurred ₹250-260 crores in CAPEX for the Durg Line-2 project in the first 9 months of FY26.
Management targets full completion of the Durg expansion project by March 2028 with a total outlay of ₹3,000 crores.

💡 Investors should monitor the recovery in realizations and trade-mix stabilization in Q4, as management indicates pricing power is returning. The long-term value remains tied to the successful execution of the ₹3,000 crore capacity expansion.

JK Lakshmi Cement Releases Audio Recording of Analyst Conference Call

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 04 Feb 2026, 06:02 PM

JK Lakshmi Cement Limited has released the audio recording of its conference call held on February 4, 2026. The call, organized by PhillipCapital, provided a platform for management to interact with analysts and institutional investors. Shareholders can access the recording using the ID 10039250 on the specified web portal. This is a routine regulatory disclosure following the company's scheduled investor interaction.

Conference call conducted on February 4, 2026, at 4:00 P.M. IST
Event organized by PhillipCapital for institutional investors and analysts
Audio recording link provided for public access with Recording ID: 10039250
Follow-up to the initial meeting notice issued on January 28, 2026

💡 Investors interested in management's outlook and operational updates should listen to the recording for detailed insights. No immediate portfolio changes are recommended based on this administrative filing.

JK Lakshmi Cement Inducts 3 Senior Executives; Sr. VP Mukul Srivastava to Retire

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 03 Feb 2026, 06:27 PM

JK Lakshmi Cement has announced a strategic update to its senior management team by inducting three experienced professionals effective February 3, 2026. The new appointees, Mr. Rajesh Keswani, Mr. Rajpal Singh Shekhawat, and Mr. Sanjeeva Kr. Jha, bring a combined professional experience of over 78 years in cement manufacturing, operations, and sustainability. This move coincides with the upcoming retirement of Mr. Mukul Srivastava, Sr. Vice President (Works) at the Durg plant, on February 28, 2026. The appointments reflect a focus on operational efficiency, brownfield expansion, and ESG-driven growth.

Induction of 3 new Senior Management members with expertise in plant operations and sustainability
Mr. Rajesh Keswani brings over 30 years of experience in Cement, Thermal, and Solar power sectors
Mr. Rajpal Singh Shekhawat has 23+ years of experience in process optimization and brownfield capacity enhancement
Mr. Sanjeeva Kr. Jha, an ESG professional with 25+ years experience, to lead CSR and Sustainability
Current Sr. VP (Works) Mukul Srivastava to superannuate on February 28, 2026

💡 This is a routine management transition and succession planning exercise. Investors should monitor if the new leadership can accelerate the company's ESG and capacity enhancement goals.

JK Lakshmi Cement Revises Durg Project Cost to ₹3,000 Cr; Capacity to Reach 22.6 MTPA

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 03 Feb 2026, 06:13 PM

JK Lakshmi Cement has approved a revision in the scope of its integrated cement plant project at Durg, Chhattisgarh, increasing the total project cost from ₹2,500 Crores to ₹3,000 Crores. The revision includes additional equipment and railway sidings at split location grinding units to enhance operational efficiency. Upon completion by March 2028, the company's total cement capacity will increase from 18 MTPA to 22.6 MTPA. Clinker capacity is also set to rise from 10 MTPA to 12.3 MTPA, strengthening its market presence.

Project cost increased by ₹500 Crores to a total of ₹3,000 Crores due to scope revision.
Total cement capacity to expand by 4.6 MTPA, reaching 22.6 MTPA by March 2028.
Clinker capacity to increase from 10 MTPA to 12.3 MTPA.
Scope revision includes additional equipment and railway sidings for better logistics at grinding units.
The project will be implemented in phases with full completion targeted for March 2028.

💡 Investors should monitor the company's debt levels following this ₹500 Crore capex increase, but the long-term capacity growth and logistical improvements are positive for market share.

JK Lakshmi Cement Q3 FY26 Results: ₹19.09 Cr Exceptional Charge for New Labour Codes

🔵 WATCH ⭐ 7/10

EARNINGS 📅 03 Feb 2026, 05:43 PM

JK Lakshmi Cement reported its Q3 FY26 results, notable for a ₹19.09 crore exceptional charge related to incremental retiral obligations following the implementation of New Labour Codes in November 2025. The company has completed the amalgamation of Udaipur Cement Works and other subsidiaries, with all prior period financials restated to reflect this merger. A key concern remains the legal dispute over the cancellation of mining rights in Assam for its subsidiary Agrani Cement, involving approximately 335 MT of limestone reserves. The company is currently challenging this cancellation in the High Court of Assam.

Recognized an exceptional item of ₹19.09 crore in Q3 FY26 due to the New Labour Codes effective Nov 21, 2025.
Completed the Composite Scheme of Amalgamation for Udaipur Cement Works Ltd and two other subsidiaries effective July 31, 2025.
Challenging the cancellation of mining rights for three limestone mines in Assam (335 MT reserves) in the High Court.
Previous year's merger-related costs totaling ₹35.44 crore were accounted for as exceptional items in FY25.
Financial results for the quarter and nine months ended Dec 2024 have been restated to include the impact of the merger scheme.

💡 Investors should monitor the outcome of the Assam mining rights litigation as it is critical for long-term capacity expansion. While the labor code impact is a one-time hit to earnings, the simplified corporate structure post-merger is a positive development for transparency.

JK Lakshmi Cement Q3 FY26: Exceptional Charge of ₹19.09 Cr for New Labour Codes

🔵 WATCH ⭐ 8/10

EARNINGS 📅 03 Feb 2026, 05:37 PM

JK Lakshmi Cement reported its Q3 FY26 results, notably impacted by a ₹19.09 crore exceptional charge due to the implementation of new Central Labour Codes. The company has successfully integrated Udaipur Cement Works Limited (UCWL) following a composite scheme of amalgamation, with previous period figures restated to reflect the merger. A significant legal challenge is ongoing regarding the cancellation of mining rights in Assam for its subsidiary Agrani Cement, involving 335 MT of limestone reserves. While the merger streamlines operations, regulatory costs and legal disputes over raw material assets remain key focal points.

Recognized an exceptional item of ₹19.09 crore in Q3 FY26 for incremental retiral obligations under new Labour Codes effective Nov 2025.
Completed the merger of Udaipur Cement Works (UCWL) and two subsidiaries, effective from the appointed date of April 1, 2024.
Challenging the cancellation of mining rights for three limestone mines in Assam (335 MT reserves) in the High Court.
Total investment commitment for the Assam mining project is ₹325.11 crore, with ₹130 crore paid to date.
Previous year figures restated to include merger impact, including ₹35.44 crore in merger-related costs provided in FY25.

💡 Investors should monitor the outcome of the Assam mining rights litigation as it is critical for long-term expansion and raw material security. The stock's performance will likely depend on the realization of operational synergies from the UCWL merger.

JK Lakshmi Cement Schedules Q3 & 9MFY26 Earnings Conference Call for Feb 4, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 28 Jan 2026, 05:46 PM

JK Lakshmi Cement Limited has scheduled a conference call on February 4, 2026, at 4:00 PM IST to discuss its financial performance for the quarter and nine months ended December 31, 2025. The call is organized by PhillipCapital and will feature senior management, including the President & Director and the CFO. This session provides an opportunity for analysts and institutional investors to gain insights into the company's operational performance and future outlook. The proceedings will be recorded and transcripts will be shared with the stock exchanges as per regulatory requirements.

Conference call scheduled for February 4, 2026, at 4:00 PM IST.
Discussion to focus on financial results for Q3 and 9M ended December 31, 2025.
Senior management presence including Mr. Arun Kumar Shukla (President & Director) and Mr. Sudhir Bidkar (CFO).
Call hosted and organized by PhillipCapital (India) Private Limited.

💡 Investors should monitor the call for management commentary on cement demand trends, pricing power, and input cost management. No immediate action is required as this is a routine scheduled announcement.

JK Lakshmi Cement Submits SEBI Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 11 Jan 2026, 11:26 AM

JK Lakshmi Cement Limited has submitted its compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended December 31, 2025. The company's Registrar and Share Transfer Agent, MCS Share Transfer Agent Limited, confirmed that all securities received for dematerialization were processed within the required 15-day window. The process involved the mutilation and cancellation of physical certificates and updating the depository as the registered owner. This filing is a standard regulatory requirement to ensure the integrity of electronic shareholding records.

Compliance certificate issued for the quarter ended December 31, 2025.
Dematerialization requests were processed and confirmed within 15 days of receipt.
Physical security certificates were mutilated and cancelled as per SEBI guidelines.
Registrar confirmed that securities are listed on the Stock Exchanges where earlier issues are listed.

💡 No action is required from investors as this is a routine administrative filing confirming standard regulatory compliance.

JK Lakshmi Cement to Close Trading Window from January 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 30 Dec 2025, 06:17 PM

JK Lakshmi Cement Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting January 1, 2026. This move is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the Q3 financial results. The window will remain closed until 48 hours after the declaration of the unaudited financial results for the quarter ending December 31, 2025. This is a standard regulatory procedure for listed companies in India.

Trading window closure begins effective January 1, 2026
Closure pertains to the unaudited financial results for the quarter ending December 31, 2025
Window to reopen 48 hours after the official announcement of financial results
Compliance maintained under SEBI (Prohibition of Insider Trading) Regulations, 2015

💡 No action is required as this is a routine regulatory filing. Investors should look forward to the upcoming Q3 earnings release to evaluate the company's operational performance.

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💰 Financial Performance

Revenue Growth by Segment

Revenue from operations saw a reduction in FY2025 due to lower cement demand, reflected in the debtors turnover ratio increasing from 105 to 158. However, Net Profit before Tax for the six months ended September 30, 2025, rose to INR 311.27 Cr compared to INR 63.77 Cr in the previous restated period, representing a 388% increase.

Geographic Revenue Split

Not specifically disclosed in percentages, but the company notes regional demand disparities and seasonal fluctuations as key risks affecting sales volumes across its operational zones.

Profitability Margins

The PBILDT margin contracted to 13.96% in FY2025 from 15.42% in FY2024. This 1.46% margin compression was driven by rising input costs and lower pricing power. Net Profit for Q2 FY2026 was reported at INR 82.33 Cr.

EBITDA Margin

EBITDA margin stood at 13.96% for FY2025. Core profitability is sensitive to EBITDA per tonne; maintaining levels above INR 1,200 is a target for credit rating upgrades, while falling below INR 700 would trigger a downgrade.

Capital Expenditure

The company is undertaking debt-funded capital expenditure plans, contributing to an increase in overall gearing to 0.87x as of March 31, 2025. It expects to generate Gross Cash Accruals (GCA) of INR 700-900 Cr in the medium term to support these plans.

Credit Rating & Borrowing

CRISIL and CareEdge maintain a 'Stable' outlook. Interest coverage moderated to 4.77x in FY2025 from 6.99x in FY2024. Finance costs for the six months ended September 30, 2025, were INR 102.76 Cr.

⚙️ Operational Drivers

Raw Materials

Key raw materials include limestone, gypsum, and energy inputs like coal and petcoke. Energy and fuel costs are highly intensive, though specific percentage splits per material are not disclosed.

Import Sources

Not specifically disclosed, but the company monitors global fluctuations in energy and foreign exchange rates for imported fuel components.

Capacity Expansion

The company is pursuing a 'Composite Scheme of Amalgamation & Arrangement' to streamline operations and is engaged in ongoing debt-funded capacity expansion to improve its market position.

Raw Material Costs

Raw material and energy costs pose challenges to margin stability. The company uses an enterprise-wide risk framework to monitor these costs, which contributed to the PBILDT margin decline to 13.96%.

Manufacturing Efficiency

The company targets an EBITDA per tonne above INR 1,200 for improved business risk profiling. Current efficiency is supported by a 47% utilization of fund-based working capital limits.

Logistics & Distribution

Logistics costs are identified as a key challenge to margin stability, particularly due to the energy-intensive nature of distribution and regional demand disparities.

📈 Strategic Growth

Growth Strategy

Growth is targeted through the 'Composite Scheme of Amalgamation & Arrangement', capacity expansion funded by term debt, and a focus on improving market share. The company also aims for premiumization to drive EBITDA per tonne above INR 1,200.

Products & Services

Cement bags and related building materials.

Brand Portfolio

JK Lakshmi Cement.

Market Expansion

The company is focusing on improving its market position in its existing operating zones (Eastern and Northern) through capacity additions.

Market Share & Ranking

Not specifically ranked, but identified as a flagship company of the JK Organization with a 'healthy market position'.

Strategic Alliances

The company has five subsidiaries, including Udaipur Cement Works Limited, and associates that contributed INR 5.34 Cr to profit in the six months ended September 2025.

🌍 External Factors

Industry Trends

The industry is shifting toward decarbonization; JKLC has committed to RE100 and GCCA frameworks with a 2047 net-zero target. Near-term trends show pricing pressure due to regional oversupply.

Competitive Landscape

The industry faces intense competition and regional demand-supply imbalances that affect pricing power.

Competitive Moat

Moat is built on being part of the established JK Group, extensive promoter experience, and a strong distribution network. Sustainability is reinforced by healthy liquidity (INR 599 Cr) and a stable debt service coverage ratio of 2.32x.

Macro Economic Sensitivity

Highly sensitive to GDP growth and infrastructure investments. A reduction in government capital expenditure directly impacts sales volumes.

Consumer Behavior

Shifting demand dynamics and evolving customer expectations require managing dealer loyalty and channel profitability.

Geopolitical Risks

Fluctuations in global fuel prices (coal/petcoke) due to geopolitical tensions impact power and fuel costs.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to environmental violations risks and industrial mishaps regulations. Compliance is managed via the 'Compliance Manager' tool.

Environmental Compliance

The company is exposed to transition risks like carbon pricing. It has charted a path to net-zero by 2047 and maintains a nil LTIFR for employees.

Taxation Policy Impact

The company faces risks from pending litigations and legacy tax liabilities. Income tax payments (net) for the six months ended September 2025 were INR 72.19 Cr.

Legal Contingencies

The company notes pending litigations and regulatory inquiries as risks that could result in financial exposure, though specific case values in INR were not detailed in the provided summary.

⚠️ Risk Analysis

Key Uncertainties

Key risks include input cost volatility (energy/logistics), interest rate fluctuations, and potential delays in receivables from public sector contracts.