JK Lakshmi towers up

JK Lakshmi Cements figured briefly among the top five gainers on the BSE today. A sharp gainer over the past three days, it opened over 5% higher today at Rs.209.95 and rose 11% to an intraday high at Rs.220.80. Its 20% UC for the day is at Rs.239.20.

The company posted a robust set of earnings for Q4FY20 with a whopping 128% (YoY) jump in net profit at Rs.101 crore though sales were down 9.5% at Rs.1061 crore.

The company said that efforts in improving product mix, market optimisation, enhancing the premium products sales, reduction in logistic costs and improvement in plant efficiency parameters helped post better returns. Softening of Pet Coke prices also helped improve margins.

The EBITDA was up 52% at Rs.224 crore.

Post the Covid shutdown, the company has since resumed its operations in a phased manner from 19th April.

The company ended FY20 with a 4% rise in net sales at Rs.4043 crore and net profit rose 195% to Rs.236 crore.