JK Lakshmi Cement Q1 FY25 Profit Decline Hits 15%
JK Lakshmi Cement, a part of the JK Organisation, has reported a 15.28% decline in its net consolidated profit for the quarter ending June 30, 2024. The company’s net profit after tax stood at Rs 67.60 crore in Q1 FY25, compared to Rs 79.79 crore in the same quarter of the previous fiscal year. The company’s net consolidated total income was Rs 1,576.96 crore in Q1 FY25, marking a 9.44% decrease from Rs 1,741.38 crore recorded in the corresponding quarter last year.
The board approved a composite scheme of arrangement for the merger of its subsidiaries, including Udaipur Cement Works (UCWL), Hansdeep Industries & Trading Company, and Hidrive Developers & Industries, into itself. Vinita Singhania, the Chairperson and Managing Director (CMD) of the company, stated that this consolidation aims to enhance value for all stakeholders by creating a single, business-focused listed entity.
As part of its green initiatives, JK Lakshmi Cement is working on increasing its Thermal Substitution Rate (TSR) from 4% to 16% at its Sirohi cement plant. Additionally, the company has commissioned a 3.5 MW Waste Heat Recovery (WHR) system at Sirohi during the quarter. The company is also expanding its cement grinding capacity at the Surat Grinding Unit from 1.35 million tonnes to 2.7 million tonnes, with an estimated project cost of Rs 225 crore. This expansion will be funded through Rs 150 crore in term loans from banks and the remaining from internal accruals.
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