JK Cement gains as board to consider Rs 500-cr NCD issue

JK Cement rallied 2.24% to Rs 5,063.90 after the company said that its board will consider a proposal to raise up to Rs 500 crore (Rs 5 billion) via the private placement of non-convertible debentures (NCDs).

The official announcement was made after market hours on 11 April 2025.

The fundraising proposal will be considered at the companys board meeting on 24 May 2025 and will be subject to shareholder approval at its upcoming 31st annual general meeting (AGM), if approved by the board.

At the same meeting, the board will also review and approve the audited standalone and consolidated financial results for the quarter and financial year ended 31 March 2025, which will be used for filings with stock exchanges.

Additionally, the board will consider recommending a final dividend on equity shares for FY 202425, subject to shareholder approval. The proposed issuance of Rs 500 crore in NCDs may be carried out in one or more tranches over a 12-month period from the date of the AGM.

JK Cements is engaged in the manufacturing and selling of cement and cement-related products.

The cement maker's consolidated net profit slipped 33.2% to Rs 189.62 crore in Q3 FY25, compared to Rs 283.81 crore recorded in Q3 FY24. Revenue from operations marginally fell 0.2% to Rs 2,930.28 crore in Q3 FY25 as against Rs 2,934.83 crore reported in the same period a year ago.

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