Financial Performance
JK Cement Limited reported strong financial results for FY2025-26 with standalone revenue growth of 16% to ₹12,945.34 crores and net profit growth of 21% to ₹1,033.34 crores. Consolidated revenue reached ₹13,722.30 crores with profit of ₹987.99 crores. The company achieved EBITDA of ₹2,318 crores (18% growth) and EPS of ₹133.73. Key financial metrics showed net debt of ₹3,370 crores with net debt/EBITDA at 1.45x and net worth of ₹6,961 crores.
Operational Highlights
Grey cement volumes grew 15% to 20.66 million tonnes while white business volumes reached 1.80 million tonnes (11% growth). Total production stood at 22.61 million tonnes with 79% capacity utilization. The company expanded installed capacity to 32.26 MnTPA grey cement and 3.05 MnTPA white cement through organic and inorganic routes, adding 7.92 MnTPA capacity during FY26 including commissioning of 3 MnTPA Buxar grinding unit and acquisition of 60% stake in Saifco Cement.
Capacity Expansion & Projects
JK Cement continued aggressive expansion with ongoing projects including Jaisalmer integrated project (4 MnTPA clinker + 3 MnTPA cement), Bikaner grinding unit (2 MnTPA), and Punjab grinding unit (2 MnTPA), all scheduled for H1 FY28 commissioning. The company plans ₹5,000-6,000 crores capex for FY27-FY28 and targets 50 MnTPA grey cement capacity by FY30.
Sustainability Performance
The company demonstrated strong ESG performance with 51.8% green power mix (290.7 MW capacity), 11.97% thermal substitution rate, and 4.9x water positivity. Specific CO2 emission intensity reduced to 575 kg/tonne (16.2% reduction from FY20 baseline). The company received CDP scores of B (Climate Change), A- (Water Security), and A (Supplier Engagement), and was included in S&P Global DJSI Yearbook 2026.
Corporate Governance & Structure
The 13-member board (7 independent directors) maintained robust governance with 6 meetings during FY26. The company has 10 subsidiaries including JK Maxx Paints, JK Cement Foundation, and international operations in Fujairah and Africa. Total director remuneration was ₹773.95 crores with MD Dr. Raghavpat Singhania receiving ₹313.44 crores.
Regulatory & Legal Matters
The company faces significant contingent liabilities of ₹1,378.20 crores from CCI penalties imposed in 2016 and 2017, currently under appeal in Supreme Court and NCLAT with stay orders. No provisions have been made based on legal opinion. The company maintained clean audit reports with no material non-compliances or penalties during FY26.
Dividend & Shareholder Returns
The board recommended a final dividend of ₹20 per equity share (200%) with record date of July 10, 2026, and total cash outflow of ₹154.54 crores. The 32nd AGM will be held on July 17, 2026, through video conferencing.
Risk Management & Outlook
The company manages commodity price volatility and foreign exchange risks through hedging activities. Forward-looking statements target 75% green power, 35% TSR, and 5x water positivity by FY30, along with scaling RMC to 100+ plants by March 2028 and focus on premiumization strategies.