JK Lakshmi Cement - Deleveraging Exercise, Waste Heat Recovery System To Provide A Boost: Anand Rathi
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Anand Rathi Report
Lockdown-curbed softer demand and higher input costs hit JK Lakshmi Cement Ltd.’s QoQ performance.
The low base and more clinker sales led to cement sales volumes rising a robust 40% YoY to 2.66 million tonnes.
Non-cement revenue grew 169% YoY to 780 million.
JK Lakshmi Cement's Ebitda grew 51% YoY to Rs 2.2 billion; per ton Ebitda, 8% YoY to Rs 813 (though QoQ down 12%).
Fuel stocks for three to four months have been built up, where fuel consumption cost is expected to rise 14% QoQ and diesel cost 27% QoQ.
The eight megawatt Sirohi waste heat recovery system is expected to commence by Q3 FY22 offering some respite to high costs.
Debottlenecking was completed at Udaipur Cement Works, expanding clinker/cement capacities to 1.5 million tonnes/2.2 million tonnes.
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