New Delhi: ICICI Direct Research has a Buy call on JK Cement with a target price of Rs 5,040. The brokerage has recommended the stock to be purchased in the range of Rs 4700-4750. The firm said the counter is expected to reach its target level in three months.
JK Cement Ltd shares were trading on a positive note with over 2 per cent gains on September 23, 2024 at 1:12 pm. The counter appreciated over 17 per cent and more than 51 per cent in the last six months and 1 year respectively.
JK Cement has announced to continuously augment its grey cement capacity to reach 30 MnTPA by FY 2025-26. The company also aims to double its present capacity by FY 2029.
In its Q1 2024-25 Results, JK Cement Ltd declared that it reported a 67 per cent rise in its consolidated net profit to Rs 184.82 crore for the first quarter ended June 2024. According to a regulatory filing from JK Cement, the cement manufacturing company had registered a profit of Rs 110.73 crore in the year-ago period.
JK Cement’s revenue from operations increased 1.62 per cent at Rs 2,807.57 crore during the first quarter of 2024-25, as compared to Rs 2,762.63 crore in the first quarter of 2023-24. The total expenses was recorded at Rs 2,579.14 crore.
JK Cement informed the exchanges that its total income was Rs 2,852.31 crore, an increase of 2.07 per cent in Q1 FY25.
JK Cement Ltd is one of India’s leading manufacturers of Grey Cement and one of the leading White Cement manufacturers in the World. The company’s operations commenced at the grey cement unit at Nimbahera, Rajasthan in May 1975.
Figures in cr
June ‘24
2023 March
2023 Dec
2023 Sept
2023 June
FY 23-24
Revenue
2643.09
2938.94
2784.8
2570.72
2623.59
10918.05
Other Income
43.8
43.09
35.19
27.75
29.29
135.32
Total Income
2686.89
2982.03
2819.99
2598.47
2652.88
11053.37
Expenditure
-2270.67
-2493.08
-2287.26
-2233.13
-2341.63
-9355.09
Interest
-106.56
-111.16
-110.9
-109.07
-105.46
-436.59
PBDT
416.22
488.95
532.74
365.34
311.25
1698.28
Depreciation
-124.45
-130.67
-117.83
-119.64
-117.76
-485.9
PBT
291.77
358.28
414.91
245.69
193.5
1212.38
Tax
-89.09
-122.33
-125.44
-66.77
-67.2
-381.74
Net Profit
202.68
235.95
289.46
178.93
126.3
830.64
Equity
77.27
77.27
77.27
77.27
77.27
77.27
EPS
26.23
30.54
37.46
23.16
16.35
107.5
CEPS
42.34
47.45
52.71
38.64
31.59
170.39
OPM %
19.78
20.42
23.11
18.45
15.88
19.55
NPM %
7.67
8.03
10.39
6.96
4.81
7.61
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
ICICI Direct Research has backed JK Cement share price to rise and touch the level of Rs 4700-4750 in three months. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
