JK Lakshmi Cement Ltd. share price target

JK Lakshmi Cement's Q4FY15 EBITDA at Rs 715 mn was below our estimate as the operating margins came lower than expected (on higher energy and employee cost) coupled with lower volumes which declined sharply by ~ 9% YoY owing to rural slowdown.

Background: JK Lakshmi Cements is a north Indian Cement player, established in 1982. JKLC has clinker units in Sirohi, Rajasthan and grinding units in Rajasthan, Gujarat and Haryana. The current clinker capacity is 4.1 MTPA and cement capacity is 5.3 MTPA. JKLC derives sales volume from the northern and western regions. The company has 5.3% share of dispatches in the northern and western regions. JKLC is doubling its cement capacity by 4.2 MTPA...

JK Lakshmi cement (JKLC), an ISO 9002 certified company, started its operation in the year 1938 in Sirohi district located in Rajasthan. It manufactures wide range of cement. It is part of...

Background: JK Lakshmi Cements is a north Indian Cement player, established in 1982. JKLC has clinker units in Sirohi, Rajasthan and grinding units in Rajasthan, Gujarat and Haryana. The current clinker capacity is 4.1 MTPA and cement capacity is 5.3 MTPA. JKLC derives sales volume from the northern and western regions. The company has 5.3% share of dispatches in the northern and western regions. JKLC is doubling its cement capacity by 4.2 MTPA by...

Background: JK Lakshmi Cements is a north Indian Cement major, established in 1982. JKLC has clinker units in Sirohi, Rajasthan and grinding units in Rajasthan, Gujarat and Haryana. The current clinker capacity is 4.1 MTPA and cement capacity is 5.3 MTPA. JKLC derives sales volume from the northern and western regions. The company has 5.3% share of dispatches in the northern and western regions. JKLC is doubling its cement capacity by...

Background: JK Lakshmi Cements is a north Indian Cement major, established in 1982. JKLC has clinker capacity in Sirohi, Rajasthan and gr inding units in Rajasthan, Gujarat and Haryana. The current clinker capacity is 4.1 MTPA and cement capacity is 5.3 MTPA. JKLC derives sales volume from the northern and western regions. The company has 5.3% share of dispatches in the northern and western regions. JKLC is doubling its cement capacity by...

Background: JK Lakshmi Cements is a north Indian Cement major, established in 1982. JKLC has clinker capacity in Sirohi, Rajasthan and grinding units in Rajasthan, Gujarat and Haryana. The current clinker capacity is 4.1 MTPA and cement capacity is 5.3 MTPA. The company expanded capacity at 10% CAGR over the past four years through de bottlenecking of clinker capacity and addition of split grinding units. JKLC der ives sales volume from the northern and western regions. The company has 5.3% share of dispatches in the northern and western regions. JKLC is doubling its cement capacity by...