• The document is a regulatory filing containing the transcript of a post-results conference call for the quarter and half year ended 30th September 2026 (Q2 & H1 FY27), organized by PhillipCapital (India) Pvt. Ltd.
  • The event was an earnings conference call held on 5th November 2026 at 4:00 P.M. IST.
  • The stated purpose was to discuss the company's Q2 and H1 FY27 financial and operational performance, followed by a Q&A session with analysts.
  • The meeting was scheduled after the earnings announcement, as it is a post-results discussion.
  • Management participants included Mr. Arun Shukla, President and Director, and Mr. Sudhir Bidkar, Executive Director, Corporate Affairs and Chief Financial Officer.
  • The moderator was Mr. Vaibhav Agarwal from PhillipCapital (India) Private Limited.
  • The company confirmed that a presentation was available for download from the company website and the full transcript was made available on the company's website at https://www.jklakshmicement.com/investor-conference-call/.
  • The call included standard forward-looking statement disclaimers, noting that certain discussions may involve projections subject to risks and uncertainties.

Financial & Operational Highlights Discussed:

  • Q2 Performance Context: The quarter was impacted by seasonality (monsoon), heavy rains in Chhattisgarh and Gujarat, planned shutdowns, and significant cost inflation from fuel (coal/petcoke).
  • Fuel Cost: Q2 fuel cost was INR 1.82 per 1,000 kcal, up from INR 1.54. Guidance was provided for Q3 (~INR 2.0) and Q4 (INR 2.15-2.2, if current trends persist).
  • Volume Growth: H1 volume growth was 7% (Q2 at 5%), with management confident of matching industry growth (est. 7-8%) in H2.
  • Pricing: Prices began moving up in the latter part of September and October, particularly in non-trade. Expectations were for further increases of INR 10 in November and INR 10-15 in December post-Diwali.
  • Expansion & Capex:
  • Durg Plant: INR 200 cr spent in H1 FY27; total spent ~INR 450 cr. Total project capex is ~INR 1,000 cr. The 2.3 MT clinker + 1.6 MT cement expansion is on track for March 2028.
  • Overall Capex: FY27 guidance is INR 1,500 cr, with ~INR 1,000 cr for Durg and the rest for land acquisition in Kutch/Nagaur, the Northeast project, and normal capex. Capex for the following two years is guided at ~INR 2,000 cr.
  • Capacity Target: The target capacity has been revised from 30 MT to 25.1 MT by FY30. The roadmap includes the Durg expansion (4.6 MT total by FY28), a 1.5 MT Northeast plant (targeting March 2029), and a 1.0 MT plant in Mejia, West Bengal (targeting FY30).
  • Financial Metrics:
  • Q2 EBITDA/ton was noted to be around INR 510-520.
  • Net Debt/EBITDA is expected to be maintained below 3.5.
  • Net debt is expected to peak at ~INR 2,500 cr by end-FY27.
  • Blended power cost was INR 6.24/unit in Q2 (vs. INR 5.52 in Q1).
  • Non-cement revenue was INR 183 cr (RMC: INR 86 cr, AAC blocks: ~INR 70 cr) with a blended margin of 5%.
  • Clinker sales in Q2 were ~150,000 tons.
  • The green power share was 48% in Q2, expected to inch up to 49%.
  • Strategy: Focus on consolidating market share in North, East, and West geographies; improving premium product share (currently 27-28%, targeting 30%); and maintaining balance sheet discipline.

Additional Notes Section

  • The filing includes the transcript of the conference call as an enclosure.
  • The document itself is a compliance filing to inform the exchanges of the event and the availability of the transcript; it does not contain new financial data beyond what was discussed in the call and is available in the presentation.
  • The tone of the disclosure is neutral and informative, serving as a record of a scheduled investor engagement.