Strong Q4 Earnings Drive Share Price Higher

JK Lakshmi Cement Ltd. saw its share price rise over 2% after the company released its financial results for the fourth quarter of FY24. The cement maker reported a 6.6% increase in revenue, reaching ₹1,897.62 crore, compared to ₹1,780.85 crore during the same period last year.

Profit and EBITDA Performance

The company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) grew by 4%, standing at ₹351.20 crore, up from ₹336.52 crore. However, the EBITDA margin dipped slightly to 18.5%, down from 18.9% last year.

Meanwhile, net profit rose by 17%, climbing to ₹183.54 crore from ₹157.01 crore in the year-ago quarter.

Market Reaction and Stock Performance

The company’s stock touched an intraday high of ₹885, marking a 2.25% gain, before settling 0.76% higher at ₹872.10 apiece as of 09:37 AM. This movement came in contrast to a 0.25% decline in the Nifty 50 index. Over the past 12 months, JK Lakshmi Cement shares have climbed 9.31%.

The stock’s trading volume was notably strong, at 7.3 times its 30-day average, while the Relative Strength Index (RSI) stood at 62, indicating positive momentum.

Analyst Sentiment and Future Outlook

Out of 21 analysts monitoring the stock, 12 recommend a ‘Buy’, six suggest ‘Hold’, and three advise ‘Sell’, as per Bloomberg data. The average 12-month price target indicates a modest upside of 0.2% from current levels.

Company Background

Founded in 1982, JK Lakshmi Cement is a major player in the Indian cement industry, known for its wide range of cement products designed for varied construction needs. The company is headquartered in New Delhi and operates multiple manufacturing units across India, steadily expanding its market presence and production capacity.