JK Lakshmi Cement - Volume Surprises Positively In Q3: Motilal Oswal
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Motilal Oswal Report
JK Lakshmi Cement Ltd.’s revenue grew 19% YoY to Rs 11.9 billion on 16% growth in volume at 2.7 million tonne (versus our estimate of 2.51 million tonne) and 2% higher realization at Rs 4,426/tonne (versus our expectation of Rs 4,381/tonne).
Unitary cost was up 1% YoY to Rs 3,714/tonne, led by higher raw material cost (up 16% YoY), increased freight cost at Rs 901/tonne (2% YoY), and larger other expenses (up 1% YoY).
This was partially offset by better fixed cost absorption and low-cost fuel inventory which helped lower power and fuel cost.
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