JK Cement Ltd reported decent earnings in the June quarter. Cement volumes were 71% higher year-on-year to 3.02 million tonnes (mt) in-line with expectations, and grey cement volumes including clinker rose 73% y-o-y to 2.76mt. Volumes growth was aided by around 40% capacity expansion in its key market and the company continues to gain market share on the back of that. "We expect JK Cement to deliver an above-industry volume CAGR of 12% over FY21–23E on account of its expansion in north India. The earnings beat on these parameters was aided by higher grey cement realisations.

Source: Mint August 16, 2021 05:03 UTC