JK Lakshmi hits new high

JK Lakshmi Cement is having a fantastic day on the back of its exuberant earnings for Q4FY21.

Thanks to an increase in volume and realisations, the company posted a 25% (YoY) increase in turnover at Rs.1322 crore and net profit rose 37% at Rs.138 crore. This was performance was despite a hike in the prices of inputs like Petcoke, Diesel, Fly Ash, Gypsum.

Volumes were up 18% (YoY) at 2.9 mt while realisations rose 6% and costs were up 4% - this would have been higher but for the lower energy costs.

Its EBITDA stood higher at Rs.295 crore, up 31%. A 21% increase in other income and 29% lower interest outgo also helped the earnings. Its consolidated debt fell 46% to Rs.820 crore.

Board has recommended a dividend of Rs. 3.75 per equity share i.e. 75% for the Financial year ended 31st March 2021.

The stock, which had closed yesterday at Rs.467.10, opened in the green and went on to hit a new 52-week high at Rs.499.70. It currently trades at Rs.492 levels.