JK Cement Ltd

JK Cement Limited reported a 21% year-on-year increase in net sales for the second quarter ending September 30, 2026, reaching INR3,561 crores, though down 9% from the previous quarter. Grey cement volumes rose 19.38% to 11.3 million tons, while white cement volumes increased 19% to 10.32 lakh tons. Standalone EBITDA rose 28% quarter-on-quarter to INR3,516 crores, and consolidated EBITDA for the half-year was INR7,301 crores, up 25%. The company commissioned a 0.6 million-ton wall putty plant in Nathdwara, increasing total white cement and putty capacity to 3.65 million tons. Projects at Jaisalmer and Bikaner are progressing, with expected commissioning in FY28. The gross debt stood at INR6,255 crores, with net debt at INR4,571 crores. Management guided that net debt could peak at INR6,000 crores under the 50 million-ton capacity plan. Fuel costs per Kcal were INR1.71 in Q2, with expected increases to INR2 in Q4 due to rising petcoke and coal prices. The paint business reported INR116 crores in revenue for the quarter, with guidance for FY27 revenue between INR500-550 crores. Management emphasized efforts to improve premium product margins and market share, with ongoing capex of INR2,500 crores annually for brownfield expansions. The company noted challenges in passing on cost increases to customers, particularly in white cement, and highlighted regional factors affecting volume growth in UP and drought-affected areas. The Bihar plant operated at around 50% utilization since commissioning eight months prior.

The summary presents factual results, operational updates, and management commentary without overtly positive or negative language.