JK Lakshmi Cement Ltd(JKLAKSHMI)

NSE: JKLAKSHMIBSE: 500380

₹ 472.4-0.69%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 5,865 crNext results: 4 Nov 2026Website: www.jklakshmicement.comUpdated: 27 Oct 2026

About

JK Lakshmi Cement Ltd is an integrated cement manufacturer operating primarily in North and West India, with cement capacity of 18.00 Million Tonnes as of FY26. It reported revenue from operations of Rs 6,762.63 crore in FY26, of which cement and clinker contributed Rs 6,149.75 crore and Smart Building Solution products Rs 612.88 crore. The company targets production capacity of 30 MnTPA by FY 2029-30.^[1][2][3]

Business segments

The company reports a single segment, cementitious materials; cement and clinker revenue was Rs 6,149.75 crore in FY26 vs Rs 5,608.06 crore in FY25.^[2]
Smart Building Solution (SBS) products revenue was Rs 612.88 crore in FY26 vs Rs 548.18 crore in FY25.^[2]
SBS - RMC, AAC blocks, tile adhesive, wall putty, gypsum plaster - accounted for 10% of total sales in FY26.^[2]
Non-cement segment (RMC, AAC, POP) generated revenue of Rs 185 crore in Q1 FY27 (RMC Rs 93 cr, AAC Rs 60 - 70 cr, POP Rs 23 cr) at a 5% EBITDA margin.^[4]

Plants and installed capacity

The company operates 3 integrated units (Udaipur, Jaykaypuram, Durg), 4 grinding units (Jhajjar, Kalol, Surat, Cuttack), 23 RMC plants, 5 AAC plants, 3 putty units, 4 POP units and 3 tile adhesive units.^[2]
Cement capacity reached 18.00 Million Tonnes as of FY26, after commissioning the Surat grinding unit (1.35 MT) in September 2025; clinker capacity is 10 MTPA.^[2][1]
Captive power includes 129 MW solar, 45 MW WHRS and 4 MW wind; renewable energy supplied 49% of total power consumption in Q1 FY27, up from 46% at FY26 close.^[4]
Thermal Substitution Rate (alternative fuels) reached 12.4% at Sirohi, 8.1% at Durg and 4.9% at Udaipur in FY26.^[2]
53% of gypsum is sourced from industrial byproducts; domestic coal consumption was raised to up to 50% of the fuel mix in FY26.^[2]

Key operating numbers

Cement production in FY26 was 126.07 lakh tonnes at 73% capacity utilisation; clinker production was 92.26 lakh tonnes at 94% utilisation.^[2]
Cement volumes were 35.98 lakh tonnes in Q1 FY27, with capacity utilisation at 76% and clinker utilisation at 95%.^[4]
Blended cement ratio rose to 64% in Q1 FY27 from 62% in FY26.^[4]
Average lead distance fell to 368 km in Q1 FY27 from 388 km in the prior quarter; ~90% of sales were in core markets Gujarat, Rajasthan, Chhattisgarh, Haryana and western UP.^[4]
Fuel cost per Kcal rose to Rs 1.65 in Q1 FY27 from Rs 1.54 in Q4 FY26, driven by imported coal at USD 130 - 135/tonne and pet coke above 140 - 145.^[4]
The West Asia conflict lifted petcoke ~40% and coal ~35%, about Rs 300/MT of unbudgeted cost pressure; packaging bag costs nearly doubled, adding an estimated Rs 60-80 per tonne (FY26 annual report).^[2]
Trade share was 59% and non-trade 41% in Q1 FY27; EBITDA/tonne at the Q4 FY26 exit rate was ~Rs 730.^[4]

Products and brands

LC3 (Lime Calcined Clay Cement) first commercial batch was produced and dispatched in February 2026, developed with IIT Delhi, IIT Chennai and TARA.^[2]
Green+ brand was rejuvenated in FY26 to improve pricing positioning; premium products were 22% of trade sales in Q3 FY26.^[5]

Distribution and customers

The network comprised 4,696 dealers and 78,307 influencers in loyalty programs as of FY26; the SKY Loyalty Program onboarded 1,147 new members with 50% retention.^[2]
JK Lakshmi Vishwas app loyalty program has over 2.58 lakh registered masons and contractors; JK Lakshmi SAMMAN has over 11,000 enrolled architects and engineers.^[2]

Expansion and capex

Durg integrated plant expansion, in phases to complete by March 2028, will raise clinker capacity from 10 MTPA to 12.3 MTPA and cement capacity from 18 MTPA to 22.6 MTPA.^[2]
Durg project cost is Rs 3,000 crore; aggregate spend was Rs 400 crore as of Q1 FY27, with major equipment ordered for the second kiln and the Durg, Prayagraj and Madhubani grinding units.^[4]
Split grinding units at Prayagraj, Madhubani and one more in the East total 3.4 MTPA, toward a target of 30 MnTPA by FY 2029-30.^[2]
Capital commitments rose to Rs 1015.45 crore in FY26 from Rs 381.07 crore in FY25.^[2]
Consolidated capex plan: ~Rs 1,500 crore in FY27, ~Rs 2,000 crore in FY28 and ~Rs 1,500 crore in FY29, totalling ~Rs 5,000 crore.^[4]
Northeast (Assam): initial plant of ~1.5 MT targeted for FY29 commissioning; an integrated plant is proposed in Dima Hasao.^[4][2]
Kutch greenfield (3 MT cement, 2 MT clinker) targeted for FY30; Nagaur greenfield delayed beyond FY30 pending Supreme Court decision on Aravalli and land acquisition.^[5]
A new 42 MW solar SPV with captive power at Rs 5.85/unit (vs grid Rs 7.50) was expected online 8 - 9 months from Q1 FY27; the company acquired 26% of Ampin for captive solar in FY26.^[4][2]

Recent developments

Acquired 77.96% of NECEM Cements Limited in FY26; a balance purchase consideration of Rs 10 crore is contingent.^[2]
Declared Preferred Bidder for three Assam limestone blocks totalling 605 hectares; an upfront Rs 12.32 crore was paid after FY26 year end.^[2]
Legal recovery of Rs 130 crore is being pursued from the Agrani seller; next Delhi High Court hearing was set for July 14, 2026.^[2]
A Composite Scheme of Amalgamation merged Udaipur Cement Works Ltd., Hansdeep Industries & Trading Company Ltd. and Hidrive Developers and Industries Ltd. into the company.^[2]
Long-term rating from CRISIL and CARE is AA with Stable Outlook; short-term rating is A1+ from both, as of FY26.^[2]

Market Cap

₹5,865 Cr

High / Low

₹885 / 461

Stock P/E

15.9

Price / Book

1.5

Book Value

₹313

EPS

₹33.2

No. of Shares

12.41 Cr

ROCE

11.9%

ROE

11.2%

OPM

11.6%

Debt / Equity

0.64

Sales

₹6,763 Cr

Net Profit

₹413 Cr

Promoter holding

45.1%

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