JK Lakshmi Cement Q3 2024 Results: Records 69% Surge in Profit, Declares 40% Interim Dividend

JK Lakshmi Cement Ltd revealed its third-quarter financial results for the fiscal year 2024, showcasing robust performance and growth. The company's shares experienced a marginal dip of 1.13%, closing at Rs 915 on the BSE on Thursday, February 8, 2024, with a market capitalization of Rs 10,820 crore. Notably, the 52-week high and low for JK Lakshmi Cement's shares stand at Rs 969.95 and Rs 608.10, respectively.

Financial Highlights:

• Net profit surges by an impressive 69% to reach Rs 124.06 Crores in the October-December 2023 period.
• Standalone net sales witness a notable 7% increase in Q3 FY24, reflecting the company's sustained growth.

Operational Performance:

• JK Lakshmi Cement Ltd achieves a Clinker Capacity Utilization of 105%.
• Cement Capacity Utilization stands at a robust 79% during Q3 FY24.

Interim Dividend Announcement: The Board of Directors of JK Lakshmi Cement Ltd, in a meeting held on February 8, 2024, announced a significant interim dividend of Rs 2 per share (face value of Rs 5 per share) for the financial year 2023-24. The record date for this interim dividend is set as February 21, 2024.

Smt. Vinita Singhania, Vice Chairman & Managing Director of JK Lakshmi Cement Ltd, commented on the results, stating, "The profitability of the company improved on account of higher volume, better product & sales mix, and reduction in fuel cost."

Dividend History:

• JK Lakshmi Cement Ltd had previously declared a final dividend last year. The first, with an ex-date of August 11, 2023, and a record date of August 24, 2023, offered a final dividend of Rs 3.75 per share.
• The second, with an ex-date of August 04, 2023, and a record date of August 17, 2023, provided a final dividend of Rs 5.00 per share.

The company anticipates distributing the declared interim dividend within 3-4 weeks of the Board Meeting to eligible members whose names appear on the Register of Members or in the records of the Depositories as Beneficial Owners of the shares, as of the record date.

JK Lakshmi Cement Ltd continues to demonstrate resilience and profitability in the competitive market, positioning itself as a strong player in the cement industry. Investors eagerly await further developments and anticipate sustained growth from this industry leader.