J K Cements Ltd

About

JK Cements is engaged in the manufacturing and selling of Cement and Cement related products.(Source : 202003-01 Annual Report Page No:87)

  • Market Cap 24,222 Cr.
  • Current Price 3,135
  • High / Low 3,700 / 1,500
  • Stock P/E 28.5
  • Book Value 484
  • Dividend Yield 0.48 %
  • ROCE 20.0 %
  • ROE 21.0 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 65.10% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 18.89%

Cons

  • The company has delivered a poor sales growth of 8.66% over past five years.
  • Company might be capitalizing the interest cost
  • Promoter holding has decreased over last 3 years: -6.53%

Peer comparison

Sector: Cement Industry: Cement - North India

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
1,178 1,328 1,565 1,394 1,318 1,472 1,546 1,005 1,634 1,833 2,134 1,714
1,001 1,120 1,277 1,086 1,062 1,182 1,194 792 1,203 1,382 1,690 1,311
Operating Profit 177 208 287 308 256 290 352 213 431 450 444 403
OPM % 15% 16% 18% 22% 19% 20% 23% 21% 26% 25% 21% 24%
Other Income 18 12 35 17 18 23 27 20 29 30 34 27
Interest 67 65 63 65 69 66 66 67 61 66 59 62
Depreciation 62 59 61 64 69 70 73 74 75 78 80 81
Profit before tax 66 95 198 196 135 176 241 93 324 337 339 287
Tax % 25% 59% 31% 33% 41% 29% 33% 46% 32% 35% 37% 34%
Net Profit 50 39 138 137 82 126 164 52 222 219 216 192
EPS in Rs 7.10 5.06 17.85 17.72 10.60 16.25 21.24 6.77 28.70 28.39 27.94 24.84

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
1,827 2,093 2,545 2,907 2,790 3,401 4,362 4,010 4,854 5,259 5,802 6,606 7,315
1,386 1,815 2,031 2,348 2,437 2,948 3,816 3,284 4,064 4,420 4,556 5,022 5,586
Operating Profit 441 278 514 559 353 453 546 726 789 839 1,246 1,585 1,729
OPM % 24% 13% 20% 19% 13% 13% 13% 18% 16% 16% 21% 24% 24%
Other Income 24 36 38 47 48 67 50 79 110 76 53 67 120
Interest 69 119 144 140 153 229 305 303 284 261 276 253 249
Depreciation 86 113 126 129 134 146 197 217 231 241 288 306 313
Profit before tax 310 82 283 338 114 144 94 286 383 412 734 1,093 1,287
Tax % 28% 24% 38% 32% 34% 2% 41% 40% 25% 36% 34% 36%
Net Profit 225 63 175 231 77 144 58 178 290 270 492 710 849
EPS in Rs 32.12 8.96 24.96 33.00 11.03 20.54 8.27 25.42 41.41 34.99 63.73 91.85 109.87
Dividend Payout % 19% 22% 20% 20% 27% 19% 48% 31% 24% 29% 12% 16%
Compounded Sales Growth
10 Years:12%
5 Years:9%
3 Years:11%
TTM:37%
Compounded Profit Growth
10 Years:27%
5 Years:65%
3 Years:35%
TTM:100%
Stock Price CAGR
10 Years:39%
5 Years:30%
3 Years:60%
1 Year:109%
Return on Equity
10 Years:13%
5 Years:16%
3 Years:17%
Last Year:21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
70 70 70 70 70 70 70 70 70 77 77 77
Reserves 1,281 1,325 1,452 1,621 1,676 1,547 1,517 1,641 1,905 2,625 2,950 3,659
Borrowings 1,074 1,319 1,219 1,378 2,783 3,229 3,323 3,317 2,941 2,973 3,503 3,626
544 685 835 939 1,234 1,205 1,275 1,383 1,541 1,737 2,011 2,509
Total Liabilities 2,969 3,399 3,576 4,008 5,764 6,051 6,185 6,411 6,456 7,413 8,542 9,872
2,053 2,297 2,317 2,369 2,327 4,074 4,254 4,542 4,443 4,537 5,554 5,937
CWIP 230 103 90 255 1,788 337 321 127 104 574 530 509
Investments 5 4 9 32 68 37 79 80 119 438 46 142
682 995 1,160 1,352 1,582 1,603 1,532 1,662 1,789 1,863 2,412 3,283
Total Assets 2,969 3,399 3,576 4,008 5,764 6,051 6,185 6,411 6,456 7,413 8,542 9,872

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
257 255 520 382 364 256 580 772 883 704 1,372 1,590
-196 -280 -147 -527 -1,558 -478 -408 -668 -79 -825 -1,483 -1,345
-75 214 -261 87 1,227 230 -193 -346 -723 173 -113 -137
Net Cash Flow -14 189 112 -58 33 8 -21 -242 81 52 -225 108

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 16 11 12 14 15 19 18 18 18 18 17 20
Inventory Days 513 449 433 438 466 345 258 292 269 257 288 258
Days Payable 310 245 163 152 323 148 148 222 303 179 205 204
Cash Conversion Cycle 220 215 282 300 158 216 128 88 -17 96 100 73
Working Capital Days 38 35 18 14 8 27 5 13 7 8 24 20
ROCE % 16% 8% 16% 17% 7% 8% 8% 12% 14% 13% 17% 20%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
64.16 58.07 58.07 58.07 58.07 58.07 58.07 58.07 58.07 57.74 57.65 57.63
10.68 9.86 10.04 10.73 11.94 12.12 12.42 13.45 13.98 15.44 16.86 16.90
16.65 24.66 24.71 24.33 23.49 23.52 23.77 23.30 23.26 21.61 20.63 20.59
8.51 7.41 7.18 6.87 6.50 6.29 5.75 5.19 4.69 5.21 4.86 4.88

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