BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
JK Lakshmi Cement Ltd. reported results above estimates on all fronts.
The reported revenue, Ebitda, adjusted profit after tax and Ebitda/tonne are historically highest quarterly numbers.
The company posted 24.6%/32.6%/69.4% YoY growth in revenue/Ebitda/ adjusted profit after tax to Rs 13.2 billion/Rs 2.7 billion/Rs 1.7 billion in Q4 FY21 led by 17.8% YoY growth in volumes coupled with rise in realisation by 5.7% YoY (up 2.9% QoQ).
We expect 6.8%/3.3%/down 0.1% revenue/Ebitda/adjusted profit after tax compound annual growth rate over FY21- 23E led by 6.5%/5.0% volume growth and 1.0%/ 1.0% cement realisation growth in FY22E/FY23E.
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