Centrum Broking: JK Cement Q2 FY21 Update- Earnings Momentum To Continue; Upgrade To ADD
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Centrum Broking Report
JK Cement Ltd. Q2 FY21 performance was driven by healthy volume and strong earnings growth aided by cost savings.
Grey cement volume for JK Cement rose by 28% YoY aided by new capacity addition in FY20 (~ 0.7 million tonnes new unit contribution).
Grey cement realisation was flat at Rs 4,514/tonne YoY however white cement realisation fell by 1% YoY on the back of 9% YoY volume rise.
JK Cement’s revenues effectively increased by 24% to ~Rs 15.5 billion (Rs 12.5 billion in Q2 FY20).
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