JK Cement
JKCEMENT NSE
JK Cement
ConstructionNSE: JKCEMENT BSE: 532644 Cement
Key Fundamentals
SmallcapCementConstructionMarket Cap
₹37,382 Cr
Volatility
Low Risk
P/E Ratio
39.58
EBITDA
₹2,569 Cr
Return on Equity
13.93%
Debt to Equity
0.88
Book Value
₹910.76
EPS
₹111.1
52W High
₹7,000
52W Low
₹4,671.5
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Weaknesses
2- Stock is trading at 5.32 times its book value
- Company might be capitalizing the interest cost
Growth Rate
Revenue Growth
15.47% higher than
3Y
Net Income Growth
13.28% lower than
3Y
Cash Flow Change
-3.42% higher than
3Y
ROE
-3.26% lower than
3Y
ROCE
0% higher than
3Y
EBITDA Margin (Avg.)
1.15% higher than
3Y
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 2d agoAI opinion · based on fundamentals
Risk medium
JK Cement Ltd operates with a market cap of ₹37,382 Cr at a PE of 40.5x and PB of 5.4x. The company has delivered consistent 10-year sales CAGR of 12% and profit CAGR of 33%, while maintaining an ROE of around 15-16%. However, the stock has declined 26% over the past year despite continued topline growth of 16% TTM.
Bull Case 7
- Strong long-term profit compounding at 33% CAGR over 10 years, indicating sustained earnings growth through multiple cycles
- Consistent ROE of 15-16% maintained across 3-year, 5-year, and 10-year periods, reflecting stable return generation on equity
- TTM sales growth of 16% signals robust demand momentum and likely volume-led expansion in a growing infrastructure environment
- 10-year stock CAGR of 20% demonstrates significant long-term wealth creation for shareholders
- Compounded sales CAGR of 12% over 10 years shows the company has reliably scaled its topline across economic cycles
- 3-year profit CAGR of 33% indicates a sharp earnings recovery and operational leverage playing out in recent years
- Dividend yield of 0.41% provides a modest but consistent cash return to shareholders alongside capital appreciation
Bear Case 8
- PE ratio of 40.5x is elevated for a cement company, leaving limited margin of safety if earnings growth slows from current levels
- Stock has declined 26% over the past 1 year, significantly underperforming the broader market and indicating negative sentiment
- PB ratio of 5.4x is high for a capital-intensive business, suggesting the stock prices in substantial future growth
- Potential capitalisation of interest costs flagged as a concern, which could overstate reported profitability and asset values
- TTM profit growth of only 6% is a sharp deceleration from the 3-year CAGR of 33%, suggesting margin pressure or rising costs
- 5-year profit CAGR of just 7% contrasts with 16% sales CAGR over the same period, indicating inconsistent margin expansion
- 3-year stock CAGR of 15% has moderated significantly from the 10-year CAGR of 20%, reflecting a cooling growth premium
- Dividend yield of 0.41% offers limited income cushion during periods of capital depreciation like the current 26% drawdown
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 9d ago Neutral 1
- Equirus conference participation Aug 6
JK Cement will participate in the Equirus Annual India Conference 2026 on August 13, 2026, with a physical meeting in Mumbai. Routine investor engagement event with no material announcements indicated.
TL;DR: Limited recent news flow for JK Cement, with only a routine analyst conference participation announced for August 13. No material headwinds or positive catalysts are evident from current coverage. The lack of news makes it difficult to assess directional trend; investors should watch the Equirus conference for any forward guidance or operational updates.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,763 | 2,753 | 2,935 | 3,106 | 2,808 | 2,560 | 2,930 | 3,581 | 3,353 | 3,019 | 3,463 | 3,888 | 4,032 |
| Expenses | 2,355 | 2,286 | 2,310 | 2,546 | 2,321 | 2,276 | 2,438 | 2,816 | 2,665 | 2,573 | 2,906 | 3,205 | 3,384 |
| Operating Profit | 408 | 467 | 625 | 560 | 486 | 284 | 492 | 765 | 688 | 447 | 557 | 682 | 648 |
| OPM % | 15% | 17% | 21% | 18% | 17% | 11% | 17% | 21% | 21% | 15% | 16% | 18% | 16% |
| Other Income | 17 | 29 | 38 | 55 | 45 | 140 | 45 | 46 | 56 | 51 | -2 | 41 | 39 |
| Interest | 109 | 115 | 114 | 115 | 110 | 123 | 112 | 113 | 109 | 105 | 113 | 98 | 114 |
| Depreciation | 135 | 141 | 140 | 153 | 147 | 146 | 146 | 162 | 146 | 149 | 175 | 182 | 167 |
| PBT | 181 | 241 | 409 | 347 | 273 | 155 | 279 | 535 | 489 | 243 | 268 | 444 | 406 |
| Tax % | 37% | 27% | 31% | 37% | 32% | 12% | 32% | 32% | 34% | 34% | 35% | 25% | 32% |
| Net Profit | 113 | 176 | 284 | 220 | 185 | 136 | 190 | 361 | 324 | 159 | 174 | 331 | 275 |
| EPS in Rs | 14.84 | 22.69 | 36.73 | 28.44 | 23.98 | 16.28 | 24.54 | 46.64 | 41.99 | 20.78 | 22.6 | 43.08 | 35.91 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,401 | 4,362 | 4,010 | 4,854 | 5,259 | 5,802 | 6,606 | 7,991 | 9,720 | 11,556 | 11,879 | 13,722 | 14,401 |
| Expenses | 2,948 | 3,816 | 3,284 | 4,064 | 4,420 | 4,556 | 5,022 | 6,478 | 8,393 | 9,485 | 9,845 | 11,344 | 12,067 |
| Operating Profit | 453 | 546 | 726 | 789 | 839 | 1,246 | 1,585 | 1,513 | 1,327 | 2,071 | 2,034 | 2,379 | 2,334 |
| OPM % | 13% | 13% | 18% | 16% | 16% | 21% | 24% | 19% | 14% | 18% | 17% | 17% | 16% |
| Other Income | 67 | 50 | 79 | 110 | 76 | 53 | 67 | 112 | 75 | 129 | 269 | 142 | 130 |
| Interest | 229 | 305 | 303 | 284 | 261 | 276 | 253 | 270 | 312 | 453 | 459 | 424 | 430 |
| Depreciation | 146 | 197 | 217 | 231 | 241 | 288 | 306 | 342 | 462 | 573 | 601 | 653 | 673 |
| PBT | 144 | 94 | 286 | 383 | 412 | 734 | 1,093 | 1,013 | 628 | 1,174 | 1,242 | 1,444 | 1,361 |
| Tax % | 2% | 41% | 40% | 25% | 36% | 34% | 36% | 33% | 34% | 33% | 30% | 32% | — |
| Net Profit | 142 | 55 | 172 | 286 | 264 | 483 | 703 | 679 | 416 | 790 | 872 | 988 | 938 |
| EPS in Rs | 20.54 | 8.27 | 25.42 | 41.41 | 34.99 | 64.25 | 91.85 | 88.93 | 54.82 | 102 | 111 | 128 | 122 |
| Div. Payout % | 19% | 48% | 31% | 24% | 29% | 12% | 16% | 17% | 27% | 20% | 13% | 16% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 70 | 70 | 70 | 70 | 77 | 77 | 77 | 77 | 77 | 77 | 77 | 77 |
| Reserves | 1,547 | 1,517 | 1,641 | 1,905 | 2,625 | 2,950 | 3,659 | 4,248 | 4,607 | 5,290 | 6,012 | 6,960 |
| Borrowings | 3,229 | 3,323 | 3,317 | 2,941 | 2,973 | 3,503 | 3,626 | 4,115 | 5,292 | 5,552 | 6,028 | 6,183 |
| Other Liabilities | 1,205 | 1,275 | 1,383 | 1,541 | 1,737 | 2,011 | 2,509 | 2,963 | 3,331 | 3,883 | 4,564 | 5,280 |
| Total Liabilities | 6,051 | 6,185 | 6,411 | 6,456 | 7,413 | 8,542 | 9,872 | 11,403 | 13,307 | 14,802 | 16,682 | 18,500 |
| Fixed Assets | 4,074 | 4,254 | 4,542 | 4,443 | 4,537 | 5,554 | 5,937 | 6,544 | 8,467 | 9,298 | 9,519 | 11,586 |
| CWIP | 337 | 321 | 127 | 104 | 574 | 530 | 509 | 1,032 | 592 | 464 | 1,317 | 1,055 |
| Investments | 37 | 79 | 80 | 119 | 438 | 46 | 142 | 216 | 92 | 377 | 601 | 447 |
| Other Assets | 1,603 | 1,532 | 1,662 | 1,789 | 1,863 | 2,412 | 3,283 | 3,612 | 4,155 | 4,662 | 5,244 | 5,412 |
| Total Assets | 6,051 | 6,185 | 6,411 | 6,456 | 7,413 | 8,542 | 9,872 | 11,403 | 13,307 | 14,802 | 16,682 | 18,500 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 256 | 580 | 772 | 883 | 704 | 1,367 | 1,593 | 878 | 1,377 | 1,959 | 1,939 | 1,873 |
| Investing | -478 | -408 | -668 | -79 | -825 | -1,483 | -1,348 | -984 | -1,964 | -1,626 | -1,890 | -1,667 |
| Financing | 230 | -193 | -346 | -723 | 173 | -108 | -137 | 62 | 741 | -416 | 74 | -385 |
| Net Cash Flow | 8 | -21 | -242 | 81 | 52 | -225 | 108 | -44 | 154 | -83 | 123 | -178 |
| Free Cash Flow | -291 | 199 | 388 | 739 | 73 | 124 | 834 | -649 | -226 | 792 | 241 | -376 |
| CFO/OP | 63 | 112 | 115 | 125 | 96 | 122 | 113 | 72 | 116 | 102 | 105 | 88 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 19 | 18 | 18 | 18 | 18 | 17 | 20 | 20 | 18 | 18 | 24 | 20 |
| Inventory Days | 345 | 258 | 292 | 269 | 257 | 289 | 257 | 343 | 223 | 235 | 213 | 249 |
| Days Payable | 196 | 160 | 222 | 303 | 179 | 206 | 204 | 203 | 188 | 175 | 199 | 198 |
| Cash Conversion Cycle | 169 | 116 | 88 | -17 | 96 | 100 | 73 | 159 | 53 | 78 | 38 | 71 |
| Working Capital Days | -26 | -33 | -27 | -21 | -29 | -14 | -5 | 15 | -4 | -1 | -23 | -22 |
| ROCE % | 8% | 8% | 12% | 14% | 13% | 17% | 20% | 17% | 10% | 16% | 14% | 15% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view JK Cement insights
71 extracted metrics + investor summaries across FY09–FY27.
Documents
1
Announcement under Regulation 30 (LODR)-Acquisition
29 Apr - JK Cement invested Rs2.81 crore for 26% in Truere Current Private Limited for a 40 MWp solar project. 29 Apr - JK Cement invested Rs2.81 crore for 26% in Truere Current Private Limited for a 40 MWp solar project.
2
Announcement under Regulation 30 (LODR)-Acquisition
29 Apr - Invested Rs2.81 crore for 26% stake in Truere Current Private, supporting 40 MWp solar supply. 29 Apr - Invested Rs2.81 crore for 26% stake in Truere Current Private, supporting 40 MWp solar supply.
3
Announcement under Regulation 30 (LODR)-Acquisition
29 Apr - JK Cement invested Rs2.81 crore for 26% in Truere Current Private Limited for a 40 MWp solar project. 29 Apr - JK Cement invested Rs2.81 crore for 26% in Truere Current Private Limited for a 40 MWp solar project.
4
Announcement under Regulation 30 (LODR)-Acquisition
29 Apr - Invested Rs2.81 crore for 26% stake in Truere Current Private, supporting 40 MWp solar supply. 29 Apr - Invested Rs2.81 crore for 26% stake in Truere Current Private, supporting 40 MWp solar supply.
5
Newspaper Advertisement Regarding The Notice Of Special Window For Transfer And Dematerialization Of Physical Securities.
28 Apr - Newspaper ad on special window for transfer and dematerialisation of physical securities, open till 4 February 2027. 28 Apr - Newspaper ad on special window for transfer and dematerialisation of physical securities, open till 4 February 2027.
Frequently Asked Questions about JK Cement
What does J K Cements Ltd do?
The Company is engaged in the manufacturing and selling of Cement and Cement related products with over 4 decades of experience in cement manufacturing. It is an affiliate of the multi-disciplinary industrial conglomerate JK Organisation. [1]
Where is J K Cements Ltd (JKCEMENT) listed?
J K Cements Ltd trades as JKCEMENT on the NSE and under code 532644 on the BSE.
Which sector does J K Cements Ltd belong to?
J K Cements Ltd is classified under the Construction sector, in the Cement industry.
What is the market capitalisation of J K Cements Ltd?
J K Cements Ltd has a market capitalisation of ₹37,382 Cr, which places it in the Large Cap band.
What is the PE ratio of J K Cements Ltd?
J K Cements Ltd trades at a PE ratio of 39.58, on earnings per share of ₹111.1, against a book value of ₹910.76 per share.
What is the 52-week high and low of J K Cements Ltd?
Over the last 52 weeks J K Cements Ltd has traded between ₹4,671.5 and ₹7,000.
Does J K Cements Ltd pay dividends?
J K Cements Ltd has a dividend yield of 0.41%.
What is the Return on Equity (ROE) of J K Cements Ltd?
J K Cements Ltd reported a return on equity of 13.93%. Its debt-to-equity ratio is 0.88.
Company Information
The Company is engaged in the manufacturing and selling of Cement and Cement related products with over 4 decades of experience in cement manufacturing. It is an affiliate of the multi-disciplinary industrial conglomerate JK Organisation. [1]
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