JK Cement Ltd. share price target

J.K. Cement (JKC) continued to report a healthy and better-than-estimated operating performance in 1QFY18. Its EBITDA grew by 19% YoY and 9% QoQ to Rs1.98bn exceeding our estimate of Rs1.77bn owing to a better-than-estimated recovery in average realisation of grey cement. Notably, a sharp realisation up-tick in Western markets during 1QFY18 aided its average realisation. Operating cost/tonne increased by 4% YoY and 2% QoQ led by sharp up-tick in power & fuel cost/tonne (+15% YoY and +2% QoQ) and freight cost/tonne (+13% YoY and +11% QoQ). Grey cement EBITDA surged by ~28% YoY and 3% QoQ to Rs1.28bn, while White cement (including Wall Putty) EBITDA grew by ~6% YoY and 22% QoQ to Rs694mn (35% of blended...

JK Cement (JKCE) reported Q4FY17EBITDA at Rs 2.0 bn (flat YoY), which is in line with our estimate but 23% ahead of the streets estimate.

JK Cements is one of the largest cement players in North India. It manufactures grey cement, white cement and white cement based wall putty. Currently the grey cement capacity is 10.5MTPA. Domestic white cement capacity is 0.4MTPA (second only to UltraTech, which has capacity of 0.55MTPA). The company also manufacturers putty and has an installed capacity of 0.3MTPA. The company has also installed a grey cum white cement plant with an installed capacity of 0.6MTPA (white cement) and 1.02MTPA (grey cement) in Fujairah (UAE) in a 90:10 JV with the Government of Fujairah. It has also expanded its grey...

ICICI Securities Ltd | Retail Equity Research JK Cement's Q4FY17 results were above our estimates. Revenues rose 7.7% YoY to | 1,018.9 crore (above I-direct estimate of | 913.5 crore) mainly led by 7.3% YoY rise in grey cement revenues to | 692.3 crore (driven by higher realisation, up 9.6% YoY) & 8.5% YoY increase in white cement revenues driven by capacity expansion in wall putty Blended EBITDA/tonne came in at | 843/tonne (vs. I-direct estimate: | 750/tonne). The board has recommended a dividend of | 8 per share...

J.K. Cement (JKC) continued to report a healthy and better-than-estimated operating performance in 4QFY17. Its EBITDA came in at Rs1.81bn (+6% YoY and +22% QoQ) topping our expectation of Rs1.73bn. While operating cost/tonne was a tad higher than our estimate, a better-than-estimated improvement in average NCR of grey cement (+9% YoY and +4% QoQ to Rs3,720/tonne) enabled JKC to report better operating performance. Grey cement EBITDA grew by ~39% YoY to Rs1.25bn. Blended EBITDA/tonne stood at Rs843 vs. Rs789 and Rs768 in 4QFY16 and 3QFY17, respectively. Grey cement EBITDA/tonne improved impressively to Rs670 vs. Rs472 in the year-ago quarter....

JK Cements is one of the largest cement players in North India. It manufactures grey cement, white cement and white cement based wall putty. Currently the grey cement capacity is 10.5MTPA. Domestic white cement capacity is 0.4MTPA (second only to UltraTech, which has capacity of 0.55MTPA). The company also manufacturers putty and has an installed capacity of 0.3MTPA. The company has also installed a grey cum white cement plant with an installed capacity of 0.6MTPA (white cement) and 1.02MTPA (grey cement) in Fujairah (UAE) in a 90:10 JV with the Government of Fujairah. It has also expanded its grey...

JK Cements is one of the largest cement players in North India. It manufactures grey cement, white cement and white cement based wall putty. Currently the grey cement capacity is 10.5MTPA. Domestic white cement capacity is 0.4MTPA (second only to UltraTech, which has capacity of 0.55MTPA). The company also manufacturers putty and has an installed capacity of 0.3MTPA. The company has also installed a grey cum white cement plant with an installed capacity of 0.6MTPA (white cement) and 1.02MTPA (grey cement) in Fujairah (UAE) in a 90:10 JV with the Government of Fujairah. It has also expanded its grey...

ICICI Securities Ltd | Retail Equity Research JK Cement's Q3FY17 results were above our estimates. JK Cement's revenues declined 1.6% YoY to | 887.8 crore (above I-direct estimate of | 857.3 crore) mainly led by 6.1% YoY decline in grey cement revenues to | 590 crore (driven by lower volumes: down 5.8% YoY). However, white cement revenues increased 5.2% YoY to | 298 crore driven by capacity expansion in wall putty EBITDA margins improved 267 bps YoY to 16.7% (vs. I-direct estimate...

JKC's revenue declined marginally by 1.6% YoY to Rs8.9bn mainly on account of subdued sales volume of Grey Cement, which declined by 5.8% YoY to 1.66mnT. Dispatches from Northern and Southern plants stood at 1.27mnT (-3% YoY and +5%...

JK Cements is one of the largest cement players in North India. It manufactures grey cement, white cement and white cement based wall putty. Currently the grey cement capacity is 10.5MTPA. Domestic white cement capacity is 0.4MTPA (second only to UltraTech, which has capacity of 0.55MTPA). The company also manufacturers putty and has an installed capacity of 0.3MTPA. The company has also installed a grey cum white cement plant with an installed capacity of 0.6MTPA (white cement) and 1.02MTPA (grey cement) in Fujairah (UAE) in a 90:10 JV with the Government of Fujairah. It has also expanded its grey...