JK Lakshmi Cement hits 52-week high after strong Q4 result

JK Lakshmi Cement jumped 7.6% to Rs 502.60 after the cement maker's standalone net profit increased 35.5% to Rs 136.51 crore on 24.6% jump in net sales to Rs 1321.99 crore in Q4 FY21 over Q4 FY20.

Despite hike in the prices of inputs like pet coke, diesel, fly ash, gypsum, the company improved its profitability on account of substantial higher volumes, higher realisations, improved efficiency, improved product mix etc.

Standalone profit before tax (PBT) jumped 42.3% to Rs 186.53 crore in Q4 FY21 compared with Rs 131.09 crore in Q4 FY20. The company's EBITDA stood higher at Rs 295.20 crore in Q4 FY21, up 31% over Rs 224.52 crore in Q4 FY20.

The cement maker recorded a 54.7% jump in net profit to Rs 363.82 crore for the year ended March 2021 (FY21) as against Rs 235.23 crore in the year ended March 2020 (FY20). Net sales rose 8.4% to Rs 4,384.71 crore in FY21 over FY20.

Vinita Singhania, vice chairman & MD said, "This performance being achieved during pandemic period when we lost nearly 55 days of production and 40-45 days of sales. It is greatly satisfying and speaks greatly of the Team JKLC's passion and commitment."

The board has recommended a dividend of Rs 3.75 per equity share for the financial year ended 31 March 2021.

Shares of JK Lakshmi Cement hit a 52-week high of Rs 509.80 in intraday today. The counter has soared 150% from its 52-week low of Rs 201 hit on 21 May 2021.

JK Lakshmi Cement manufactures cement, which it sells under the brand name JK Lakshmi.

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