Demand improvement in JK Lakshmi Cement’s core market (North and Gujarat) and cost control drove sequential recovery in margin
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Motilal Oswal Report
JK Lakshmi Cement Ltd.’s Q3 FY25 Ebitda was above our estimate, led by higher volumes (~4% beat) and lower opex/t versuss our estimates.
Consolidated Ebitda declined ~33% YoY to Rs 2.0 billion (~7% beat) and Ebitda/tonne declined ~35% YoY to Rs 666 (estimate: Rs 651, cost benefit partly offset by lower-than-estimated realization).
Operating profit margin contracted 4.3% YoY to ~13%. PAT declined ~57% YoY to Rs 594 million (18% above estimates, led by lower ETR).
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. Read more on Research Reports by NDTV Profit.The stock is trading fairly at 11 times FY26E/10x FY27E EV/Ebitda, hence Motilal Oswal maintains Buy on JK Lakshmi Cement. Read MoreResearch Reports
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