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Swing Capital

J K Cements Ltd

NSE: JKCEMENT BSE: 532644Cement

The Company is engaged in the manufacturing and selling of Cement and Cement related products with over 4 decades of experience in cement manufacturing. It is an affiliate of the multi-disciplinary industrial conglomerate JK Organisation. [1]

₹5,400
52W: ₹4801 — ₹7566
PE 38 · Book ₹833 · +548% vs book
Market Cap₹41,725 Cr
Stock P/E38Price to Earnings
ROCE14.5%Return on Capital
ROE14.6%Return on Equity
Div. Yield0.27%Face Value ₹10

Strengths

  • +Company has been maintaining a healthy dividend payout of 18.3%

Weaknesses

  • −Stock is trading at 6.52 times its book value

Shareholding Pattern

Promoters45.66%
FIIs16.86%
DIIs23.75%
Public13.73%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters45.7%45.68%▼0.045.68%45.68%45.66%▼0.045.66%45.66%45.66%
FIIs17.71%17.55%▼0.216.88%▼0.716.14%▼0.717.56%▲1.418.57%▲1.017.89%▼0.716.86%▼1.0
DIIs22.06%22.43%▲0.423.7%▲1.324.5%▲0.823.05%▼1.421.74%▼1.322.49%▲0.823.75%▲1.3
Public14.52%14.32%▼0.213.73%▼0.613.68%▼0.113.72%▲0.014.02%▲0.313.94%▼0.113.73%▼0.2

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales2,5712,7852,9392,6432,4102,7393,3433,1902,8593,213
Expenses2,1242,1762,3912,1642,1402,2532,6072,5172,4192,677
Operating Profit447608548479271486736673440536
OPM %17%22%19%18%11%18%22%21%15%17%
Net Profit17928923620340200417332176181
EPS ₹23.1637.4630.5426.235.2425.8554.0143.0322.7523.37

AI Insights

Revenue Trend

TTM revenue at ₹12,604Cr, up 13.6% YoY. OPM at 19%.

Debt Position

Borrowings at ₹6,372Cr. Debt-to-equity ratio: 1.00x. High leverage — monitor closely.

Capex Cycle

CWIP at ₹1,893Cr (22% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 23.75% (+0.60pp change). FIIs: 16.86% (+1.36pp change). Promoters hold 45.66%.

Margin & Efficiency

ROCE improving from 8% (Mar 2014) to 15% (Mar 2025). Working capital days: -28.

Valuation

PE 38x with 14.5% ROCE. Price is 548% above book value of ₹833. Dividend yield: 0.27%.

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