JKCEMENT
J K Cements share price & financials
- Price
- ₹5,503.5
- Market cap
- ₹44.3k Cr
- Sector
- Construction Materials
- Calls analysed
- 6
J K Cements Q1 FY27
What went well
- Consolidated Net Sale increased by 22.2% YoY to ₹3,962 crores, driven by product mix and price improvement.
- Grey cement volumes showed strong 19% YoY growth, primarily from new capacities in Central India and Bihar.
- White cement volumes grew 11% YoY, benefiting from reduced imports from UAE due to geopolitical situations.
What to watch
- Standalone EBITDA declined by 4.6% YoY to ₹639 crores, with EBITDA margins compressing to 16.9% from 21.9% in Q1 FY26.
- Per ton EBITDA decreased to ₹982 in Q1 FY27 from ₹1,229 in Q1 FY26, impacted by higher costs.
What J K Cements does
J.K. Cement manufactures and sells grey cement, white cement and wall putty, and has expanded into a broader building-materials business covering gypsum plaster, tile adhesives and grouts, construction chemicals, ready-mix concrete (RMC) and paints. It operates a network of integrated cement plants and standalone grinding units across India, sourced from captive limestone and coal reserves, and sells through a trade (dealer) and non-trade channel network. The company also has an international white-cement and dry-mix/construction-chemicals operation in the UAE.
Segments
- Grey Cement
- White Cement (including value-added products)
- Market position
- Among India's top 5 cement manufacturing players
- Grey cement capacity
- 32.26 MTPA (including subsidiary)
- White cement and wall putty capacity
- 3.05 MTPA (including subsidiary)
- Integrated cement plants
- 7 (Nimbahera, Mangrol, Muddapur, Panna, Ampavalli, Gotan Line 1, Gotan Line 2)
- Standalone grinding units
- 9 (Jharli, Aligarh, Balasinor, Hamirpur, Prayagraj, Ujjain, Choudwar, Buxar, Katni)
- Domestic geographic presence
- 25 States and Union Territories (Grey and White business)
Guidance record · Q1 FY27
what the last two calls moved 37 tracked 2 delivered 10 missed 25 open- Paint Business Breakeven delivered said Q1 FY26 Promised: Breakeven by FY27 Q1 FY27: Management confirmed the paint business achieved breakeven in Q1 FY27 with revenue of ₹125 crores.
- FY26 Volume Guidance went quiet said Q1 FY26 Promised: 20 million tons Q1 FY27: The final volume number for FY26 was not mentioned, leaving the promise unverified.
- FY28 CAPEX (spillover) revised down said Q3 FY26 Promised: INR 1,000-1,200 crores Q1 FY27: Management revised the guidance again: 'in '28 also it will be around INR1200 crores'. This is a downward revision from Q4's guidance, back towards the original target.
All 37 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 20.3%, net profit down 15.1% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,560 | 2,930 | 3,581 | 3,353 | 3,019 +18% | 3,463 +18% | 3,888 +9% | 4,032 +20% |
| EBITDA | 284 | 492 | 765 | 688 | 447 +57% | 557 +13% | 682 −11% | 648 −6% |
| Net profit | 136 | 190 | 361 | 324 | 159 +17% | 174 −8% | 331 −8% | 275 −15% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −26.5% 1Y
1Y: ₹6,586 on 10 Sept 2025 → ₹4,843.5. High ₹6,862 (19 Sept 2025), low ₹4,701 (11 Jun 2026).
How the price took the results
close before → close after
- Q1 FY27
- +1.2%
- 20 Jul
- Q4 FY26
- −2.1%
- 25 May
- Q3 FY26
- −1.7%
- 19 Jan
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 12.2% a year over 3 years, FY23 to FY26. Operating margin widened to 17.3%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹9.7k Cr | ₹11.6k Cr | ₹11.9k Cr | ₹13.7k Cr |
| Operating profit | ₹1.3k Cr | ₹2.1k Cr | ₹2.0k Cr | ₹2.4k Cr |
| Operating margin | 13.5% | 17.8% | 17.1% | 17.3% |
| Interest | ₹312 Cr | ₹453 Cr | ₹458 Cr | ₹425 Cr |
| Depreciation | ₹462 Cr | ₹569 Cr | ₹601 Cr | ₹652 Cr |
| Net profit | ₹416 Cr | ₹793 Cr | ₹872 Cr | ₹988 Cr |
| Net margin | 4.3% | 6.9% | 7.3% | 7.2% |
| Cash from operations | ₹1.4k Cr | ₹2.0k Cr | ₹1.9k Cr | ₹1.9k Cr |
| Free cash flow | ₹-226 Cr | ₹792 Cr | ₹241 Cr | ₹-376 Cr |
| ROCE | 10.0% | 16.0% | 14.0% | 15.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹77 Cr | ₹77 Cr | ₹77 Cr | ₹77 Cr | ₹77 Cr | ₹77 Cr |
| Reserves | ₹3.7k Cr | ₹4.2k Cr | ₹4.6k Cr | ₹5.3k Cr | ₹6.4k Cr | ₹7.0k Cr |
| Borrowings | ₹3.6k Cr | ₹4.1k Cr | ₹5.3k Cr | ₹5.6k Cr | ₹6.5k Cr | ₹6.2k Cr |
| Other liabilities | ₹2.5k Cr | ₹3.0k Cr | ₹3.3k Cr | ₹3.9k Cr | ₹4.9k Cr | ₹5.3k Cr |
| Total liabilities | ₹9.9k Cr | ₹11.4k Cr | ₹13.3k Cr | ₹14.8k Cr | ₹17.9k Cr | ₹18.5k Cr |
| Fixed assets | ₹5.9k Cr | ₹6.5k Cr | ₹8.5k Cr | ₹9.3k Cr | ₹9.8k Cr | ₹11.6k Cr |
| Capital work in progress | ₹509 Cr | ₹1.0k Cr | ₹592 Cr | ₹464 Cr | ₹1.9k Cr | ₹1.1k Cr |
| Investments | ₹142 Cr | ₹216 Cr | ₹92 Cr | ₹377 Cr | ₹442 Cr | ₹447 Cr |
| Other assets | ₹3.3k Cr | ₹3.6k Cr | ₹4.2k Cr | ₹4.7k Cr | ₹5.8k Cr | ₹5.4k Cr |
| Total assets | ₹9.9k Cr | ₹11.4k Cr | ₹13.3k Cr | ₹14.8k Cr | ₹17.9k Cr | ₹18.5k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −0.71 pp while DIIs added +0.67 pp. The shareholder count grew 5% to 80,353.
- Promoters
- 45.7%
- FIIs
- 16.9%
- DIIs
- 23.7%
- Public
- 13.8%
Since Jun 2025
- FIIs −0.71 pp
- DIIs +0.67 pp
- Public +0.04 pp
How it drifted, 12 quarters
Over this window FIIs went from 14.4% to 16.9% — +2.5 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 45.8%, FIIs 14.4%, DIIs 24.3%, Public 15.5%.Dec '23: Promoters 45.7%, FIIs 15.3%, DIIs 24.0%, Public 15.0%.Mar '24: Promoters 45.7%, FIIs 15.9%, DIIs 23.4%, Public 15.0%.Jun '24: Promoters 45.7%, FIIs 17.7%, DIIs 22.1%, Public 14.5%.Sep '24: Promoters 45.7%, FIIs 17.6%, DIIs 22.4%, Public 14.3%.Dec '24: Promoters 45.7%, FIIs 16.9%, DIIs 23.7%, Public 13.7%.Mar '25: Promoters 45.7%, FIIs 16.1%, DIIs 24.5%, Public 13.7%.Jun '25: Promoters 45.7%, FIIs 17.6%, DIIs 23.1%, Public 13.7%.Sep '25: Promoters 45.7%, FIIs 18.6%, DIIs 21.7%, Public 14.0%.Dec '25: Promoters 45.7%, FIIs 17.9%, DIIs 22.5%, Public 13.9%.Mar '26: Promoters 45.7%, FIIs 16.9%, DIIs 23.8%, Public 13.7%.Jun '26: Promoters 45.7%, FIIs 16.9%, DIIs 23.7%, Public 13.8%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Invesco India Small Cap Fund Mutual fund newly disclosed 2.13% held
- SBI Life Insurance Co. Ltd Insurer newly disclosed 1.38% held
- Axis Mutual Fund Trustee Ltd. A/C Axis Mutual Fund A/C Axis Multi Asset Allocation Fund Mutual fund newly disclosed 1.20% held
- SBI Nifty Midcap 150 Index Fund Mutual fund newly disclosed 1.16% held
- Fidelity Advisor Series Viii : Fidelity Advisor Focused Emerging Markets Fund Global fund house +0.37 pp 2.73% held
- Canara Robeco Mutual Fund A/C Gad1 Mutual fund +0.11 pp 2.46% held
- Fidelity Investment Trust Fidelity Series Emerging Markets Opportunities Fund AIF +0.05 pp 1.31% held
- Gaur Hari Singhania newly disclosed 0.00% held
The same filing shows 2 holders trimming and 6 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of J K Cements above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Yadu International Pvt Limited | 40.19% | unchanged |
| Kavita Yadupati Singhania | 5.01% | unchanged |
| Kotak Small Cap Fund Mutual fund | 4.54% | unchanged |
| Sushila Devi Singhania | 4.32% | unchanged |
| Abhishek Singhania | 3.28% | unchanged |
| Fidelity Advisor Series Viii : Fidelity Advisor Focused Emerging Markets Fund Global fund house | 2.73% | +0.37 pp |
| Canara Robeco Mutual Fund A/C Gad1 Mutual fund | 2.46% | +0.11 pp |
| Invesco India Small Cap Fund Mutual fund | 2.13% | newly disclosed |
| Aditya Birla Sun Life Trustee Private Limited A/C Aditya Birla Sun Life Small Cap Fund Mutual fund | 1.45% | −0.08 pp |
| SBI Life Insurance Co. Ltd Insurer | 1.38% | newly disclosed |
| Fidelity Investment Trust Fidelity Series Emerging Markets Opportunities Fund AIF | 1.31% | +0.05 pp |
| DSP Nifty Midcap 150 Index Fund Mutual fund | 1.26% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in JKCEMENT
Filings to Aug 2026
0 new, 5 added, 1 trimmed, 0 sold out — net +0.03 L shares (+0.2%).
- Held by funds
- ₹929 Cr
- 13 schemes
- Biggest holder
- SBI Midcap Fund
- ₹257 Cr · 1.1% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Midcap Fund SBI Mutual Fund | ₹257 Cr | held | Aug '21 |
| Nippon India Multi Cap Fund Nippon India Mutual Fund | ₹230 Cr | held | Mar '25 |
| SBI Large and Midcap Fund SBI Mutual Fund | ₹195 Cr | held | May '26 |
| Nippon India Growth Mid Cap Fund Nippon India Mutual Fund | ₹155 Cr | held | Jul '22 |
| HDFC Large and Mid Cap Fund HDFC Mutual Fund | ₹22 Cr | held | Jun '24 |
| Nippon India Vision Large & Mid Cap Fund Nippon India Mutual Fund | ₹21 Cr | held | Jun '24 |
| Nippon India ETF Nifty Midcap 150 Nippon India Mutual Fund | ₹20 Cr | +0.02 L | Jun '20 |
| Nippon India Nifty Midcap 150 Index Fund Nippon India Mutual Fund | ₹14 Cr | +0.01 L | Feb '21 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
5 added, 1 trimmed — net +3,387 shares (+0.2%)
- Funds are sitting on
- +31%
- vs est. average cost
- Held by funds
- ₹929 Cr
- 13 schemes · ≈ 2.2% of the company
- Biggest holder
- SBI Midcap Fund
- ₹257 Cr · 1.1% of that fund
- Longest holder
- Nippon India ETF Nifty Midcap 150
- 6y 3m · since Jun '20
Shares held by these funds +65%
Aug '23 18.04 L shares Jul '26
All earnings calls (4)
Read the Q1 FY27 call →Learn to analyse J K Cements
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