J K Cements Ltd(JKCEMENT)

NSE: JKCEMENTBSE: 532644

₹ 4,860+0.08%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 37,552 crWebsite: www.jkcement.comUpdated: 25 Oct 2026

About

J K Cement Ltd makes grey cement, white cement, wall putty and value-added building products such as tile adhesives, construction chemicals and paints. It says it is among India's top five cement makers. As of FY26 it had 32.26 MnTPA of grey cement capacity and 3.05 MnTPA of white cement and wall putty capacity across 18 manufacturing plants, including subsidiaries. Reported revenue was ₹13,722.3 Cr in FY26.^[1][2]

Business segments

The company reports a single segment, cement and allied products. Sale of finished and traded goods was ₹13,390.97 Cr consolidated and ₹12,568.16 Cr standalone in FY26, against ₹11,493.41 Cr in FY25.^[1][3]
Grey cement made up 81% of revenue in FY25.^[3]
Standalone grey cement dispatches were 20.93 MT in FY26 and 5.96 MT in Q1 FY27, up 19% YoY.^[4]
Standalone white cement volume rose about 29% YoY to 0.54 MT in Q1 FY27, partly because the geopolitical situation curtailed UAE imports into India.^[5]
Acro Paints had about ₹125 Cr of revenue in Q1 FY27 and broke even at EBITDA level for the first time. FY26 paint revenue was ₹380 Cr, with an EBITDA loss of about ₹40 Cr.^[5]
Ready-mix concrete grew from 5 plants at the end of March 2026 to 17 operating plants in Q1 FY27, with ₹35-40 Cr of revenue in Q1 FY27.^[5]

Products and brands

Products include grey cement, white cement, wall putty, tile adhesives, grouts, gypsum plaster, construction chemicals and paints (FY26).^[1]
Akshay Kumar was signed as brand ambassador for the JK Maxx premium range in FY26.^[1]
The R&D centres at Mangrol and Muddapur hold DSIR recognition up to 31 March 2027.^[1]

Plants and capacity

As of FY26, installed capacity was 32.26 MnTPA of grey cement and 3.05 MnTPA of white cement and wall putty, including subsidiaries, across 18 consolidated manufacturing plants.^[1]
Integrated plants are at Nimbahera, Mangrol, Muddapur, Panna and Ampavalli, with Gotan for white cement and putty. Grinding units are at Jharli, Aligarh, Balasinor, Hamirpur, Prayagraj, Ujjain, Choudwar and Buxar.^[1]
The 6 MTPA Central India expansion, completed in Q4 FY26, comprises Panna (3.3 MT clinker plus 1 MT cement), Prayagraj 1 MT, Hamirpur 1 MT, Muddapur +1 MT and the Buxar 3 MT grinding unit.^[4]
In FY26, debottlenecking added 1.00 MnTPA at Muddapur and 0.50 MnTPA at Ujjain.^[1]
Overall grey cement capacity utilisation was 75% in Q1 FY27. North and South plants ran at an effective 85-90%.^[5]
Green power was 53.5% of the energy mix year-to-date June 2026, up from 51.8% in FY26.^[5]

Raw materials

In FY26, the company received LOIs for about 900 million tonnes of limestone reserves across Rajasthan, Madhya Pradesh and Andhra Pradesh.^[1]
Work is under way to bring the Mahan and West of Shahdol captive coal blocks into operation. Mahan coal production is targeted to begin by the end of FY28.^[1][5]
A 3.5 km overland belt conveyor with 1,950 TPH capacity links Koni Mines to the Panna plant.^[1]

Key operating numbers

Grey cement volumes grew 15% in FY26.^[1]
Grey cement net sales realisation was ₹5,065/tonne in Q1 FY27, against ₹4,841/tonne in Q4 FY26 and ₹4,724/tonne in Q3 FY26.^[5]
Standalone grey cement EBITDA per tonne was ₹982 in Q1 FY27, against ₹1,229 a year earlier. The full-year FY26 figure was ₹1,019.^[5]
Fuel cost was ₹1.53/kcal and ₹778/MT in Q1 FY27, against ₹1.48/kcal in Q4 FY26. The fuel mix was 40% petcoke and 45% Indian coal, with alternate fuels making up the rest.^[5]
Blended cement share was 67% in Q1 FY27. The trade mix was 68% in Q4 FY26, and premium products were 18% of trade sales in Q4 FY26.^[5]
Freight cost was ₹1,282/MT over a lead distance of 434 km in Q4 FY26.^[4]

Customers and distribution

The company had about 91,000 dealers and retailers and a permanent workforce of 5,196 as of FY26.^[1]
Central India and the East (Bihar and eastern UP) were the main volume growth markets as of Q1 FY27.^[5]
White cement volume at the UAE subsidiary was nil in FY26 because of the conflict's impact on UAE operations, against 1.1 lakh tons in FY25.^[4]

Expansion and capex

The 7 MnTPA North India greenfield project is estimated at ₹4,805 Cr, with ₹914 Cr incurred as of FY26. It covers Jaisalmer (4 MnTPA clinker, 3 MnTPA cement) and 2 MnTPA grinding units at Bikaner and Punjab, all targeted for H1 FY28.^[1]
Spending on the Jaisalmer unit was ₹1,162 Cr year-to-date June 2026, against a cost of ₹3,630 Cr.^[5]
The Nathdwara wall putty plant (0.6 MnTPA) is estimated at ₹195 Cr, with ₹100 Cr spent; it is expected in Q2 FY27.^[1]
Planned capex is ₹3,500-4,000 Cr in FY27 and ₹2,000-2,500 Cr in FY28, including sustenance spending and coal blocks.^[1]
The company targets 50 MnTPA of grey cement capacity by FY2029-30. The next expansion, at Muddapur, is expected to go to the Board in Q4 FY27.^[1][5]
Ready-mix concrete plans call for 50+ plants by March 2027 and 100+ by March 2028.^[1]
Acro Paints targets FY27 revenue of ₹500-550 Cr and EBITDA breakeven for the full year.^[5]

Recent developments

The company acquired a 60% controlling stake in Saifco Cement (0.42 MnTPA) from 6 June 2025, giving it entry into Jammu and Kashmir.^[1]
The Ampavalli integrated unit and the Choudwar grinding unit came into JK Cement through the amalgamation of Toshali Cements during FY26.^[1]
In FY26, the borrowing limit was raised from ₹12,000 Cr to ₹15,000 Cr.^[1]
On 6 October 2026, the Registrar of Companies, Uttar Pradesh I fined the company ₹2,64,500 for a delay in filing Form BEN-2. Named officers were each fined ₹90,800.^[6]

Market Cap

₹37,552 Cr

High / Low

₹6,504 / 4,670

Stock P/E

39.7

Price / Book

5.3

Book Value

₹911

EPS

₹128.4

No. of Shares

7.73 Cr

ROCE

14.5%

ROE

15.1%

OPM

13.8%

Debt / Equity

0.86

Sales

₹13,722 Cr

Net Profit

₹988 Cr

Promoter holding

45.7%

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