Sector: Cement /Small Cap | Earnings Update 2QFY20 Background: JK Cements is one of the largest cement players in North India. It manufactures grey/ white cement and white cement based wall putty. Currently the grey cement capacity is 10.5MTPA while white cement capacity is 0.6MTPA (second only to UltraTech). The company also manufacturers putty and has an installed capacity of 0.7MTPA. The company also has plants in Fujairah (UAE) with an installed capacity of 0.6MTPA (white cement) and 1.02MTPA (grey cement) in a 90:10 JV with the Government of Fujairah. It has also expanded its grey cement capacity by 3 MTPA through two split grinding units (1.5 MTPA each), one at Mangrol...