JK Lakshmi Cement Q4 Review - Balance Sheet To Strengthen Further: ICICI Direct
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ICICI Direct Report
JK Lakshmi Cement Ltd. operated at full capacity in Q4 with 101% capacity utilisation led by improved sales volume from both retail and infra segment.
Total sales volume grew 17.6% YoY to 2.9 million tonne.
Realisation was also up 5.9% YoY, 3.0% QoQ to Rs 4,559/tonne (versus our estimate: Rs 4,413/tonne).
This led to revenue growth of 24.6% YoY to Rs 1,322 crore (versus our estimate: 1,226.2 crore).
Ebitda margins came in at 20.3% (versus our estimate: 14.8%) and Ebitda/tonne of Rs 924/tonne, ahead of our estimated Ebitda/tonne of Rs 653/tonne despite 4.3% YoY increase in costs.
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