JK Cement's results were broadly in line with our estimates. JK's revenues increased 7.1% YoY to | 1,115.6 crore (vs. I-direct estimate: | 1,097.1 crore) mainly led by 3.9% YoY rise in grey cement revenues to | 775.1 crore (driven by higher volumes: up 10.9% YoY). White cement revenues rose 15.4% YoY mainly led by 9.1% YoY growth in volumes Blended EBITDA/tonne declined 31.4% YoY to | 650/tonne (vs I-direct estimate: | 652/tonne) mainly led by 23.3% YoY increase in power cost/t and 9.7% YoY increase in freight cost/t...