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Systematix Research Report
We met the management of JK Cement Ltd. to understand their mid-term business plans. The company intends to commission the greenfield 4 million tonnes per annum Panna (Madhya Pradesh) cement plant by FY24 and the 2 mtpa Hamirpur (Uttar Pradesh) grinding unit by FY23.
These projects require a total outlay of ~Rs 30 billion, of which, ~Rs 7 billion has been spent while Rs 10 billion will be spent by March 2022.
Demand was tepid in November 2021 after a strong uptick in October 2021; it has picked pace in December 2021. Due to higher pet coke prices, costs are likely to increase by Rs 150/tonne each in Q3 FY22 and Q4 FY22.
JK Cement’s significant presence in the white cement market and a 20% plus share in the wall putty segment overlaps with the paints industry.
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