Cement News tagged under: JK Lakshmi Cement

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JK Lakshmi Cement shows 28% net profit growth

24 May 2019, Published under Cement News

India’s JK Lakshmi Cement has reported a 27.8 per cent YoY rise in net profit to INR432.5m (US$6.2m) in the final quarter of FY18-19, against INR338.4m in the corresponding period of the previous year. Total income of the company increased 28.8 per cent to INR11.89bn from INR9.23bn. For the full-year period ended 31 March, the company saw a 5.2 per cent YoY fall in net profit to INR795.6m from INR839.6m. However, total income advanced 10 per cent to INR39.38bn from INR35.82bn.

JK Lakshmi Cement reports 72% profit growth

12 February 2019, Published under Cement News

India's JK Lakshmi Cement has recorded a 71.7 per cent increase in standalone net profit to INR147.5m (US$2.07m) for the third quarter ended 31 December, compared with INR85.9m of the year-ago period. Its total income during the 3QFY18-19 was up 11.3 per cent YoY to INR9.487bn from INR8.52bn. The company also reported nine per cent volume growth in the period. However, total expenses rose 10.7 per cent YoY to INR9.29bn from INR8.39bn. "The company has been facing pressure of increased pet...

JK Lakshmi to upgrade logistics

15 January 2019, Published under Cement News

India’s JK Lakshmi Cement has contracted FarEye, a digital logistics company, to maintain its distribution network and increase predictive visibility. "On our wide distribution network handling volumes around 800,000tpm, pilferage and back/forward loading are some of the key operational challenges that we face. We believe that gaining better visibility into our vast network of multiple plants and about 10,000 destinations will help us control pilferage, optimise capacity and eventually hel...

JK Lakshmi upgrades capacity for increased demand

03 September 2018, Published under Cement News

India’s JK Lakshmi Cement Ltd has recently upgraded the capacity at two grinding units in Gujarat to supply the growing demand in the region. The units in Kalol and Surat supply cement for both Gujarat and Maharashtra. "Our combined capacity at both these locations has been raised to about 2.5Mta from earlier 1.5Mta," said Shailendra Chouksey, whole-time director, JK Lakshmi Cement. "We have been expecting reasonable growth in the cement sector largely driven by various government initia...

JK Lakshmi reports 62% rise in standalone net profit

17 May 2018, Published under Cement News

JK Lakshmi Cement reported a 62.3 per cent YoY rise in standalone net profit to INR338.4m (US$4.99m) in the 4Q18. The company’s total income saw a slight decrease of 0.8 per cent to INR9.23bn, compared with INR9.31bn seen in the year-ago period. However, the company has stated the results in the two periods are not comparable. "With introduction of GST, revenue from operations for current quarter and year are not comparable with corresponding quarter and year, since sales in current ye...

Indian cement companies expected to raise prices

20 November 2017, Published under Cement News

Indian cement companies are expected to raise cement prices in reaction to the recent ban on petcoke and furnace oil, which came into effect in Uttar Pradesh, Haryana and Rajasthan. The ban is expected to affect in particular Shree Cement, JK Cement, JK Lakshmi Cement, Ambuja Cement, India Cements and ACC, which operate in these states. The price hike is predicted to be around INR10 (US$0.15)/bag. Other parts of the country could be affected in the future as the Supreme Court has rec...

JK Lakshmi Cement's reports 18% rise in 2Q revenue

10 November 2017, Published under Cement News

JK Lakshmi Cement reported a net profit of INR132m (US$2m) for the 2QFY17 period ended 30 September, a fall from INR249m of the year-ago period. However, the company also  posted a revenue of INR7.7bn representing a YoY increase of 18 per cent, according to The Times of India. The second quarter of 2017 saw a minor rise in EBITDA to INR1.12bn from INR1.11bn in 2QFY16. In addition, the cost of power and fuel significantly increased to INR1.79bn from INR1.16bn in the corresponding period in...

India: five cement producers to appeal the CCI order

06 February 2017, Published under Cement News

Five of the seven cement companies which were fined by the Competition Commission of India (CCI) in January, for alleged bid rigging of a 2012 tender put out by the Haryana government, will appeal to the Competition Appellate Tribunal. Shree Cement, JK Cement, Ambuja Cements, ACC Ltd and JK Lakshmi Cement will contest the CCI order as they are of the view that they have a ‘good case for succeeding in the appeal.’ Other companies such as UltraTech Cement and Jaiprakash Associates are curren...

India: Seven cement firms fined for bid-rigging

20 January 2017, Published under Cement News

The Competition Commission of India (CCI) has imposed fines totalling more than INR2bn (US$30m) on seven cement firms it found guilty of colluding in their responses to a 2012 tender from Haryana state, Indian media reports. The companies have each been fined 0.3 per cent of their average annual turnover for the past three years. Ultratech faces the largest penalty, at INR683m – around a third of the total. The other firms fined were Jaiprakash Associates, ACC, Ambuja Cements, Shree Cemen...

India: JK Lakshmi approves raising INR5bn

27 October 2016, Published under Cement News

A JK Lakshmi Cement board meeting held on 26 October approved the raising of INR5bn (US$74.7m) through the issuance of non-convertible debentures (NCDs) on private placement basis. The company issued a statement to this effect to the BSE. JK Lakshmi Cement operates integrated plants at Sirohi (Rajashthan), Durg (Chhatisgarh), Kalol and Surat in Gujarat and Jharli (Haryana). The company boasts an 8.4Mta capacity which is scheduled to increase to 12Mta.