JK Cement Limited (JKCEMENT) — Financial Results Announcement

JK Cement reported Q4 FY26 revenue of **₹3,614 crores** and annual revenue of **₹12,568 crores**, with PAT of **₹345 crores** (quarter) and **₹1,033 crores** (annual), alongside a proposed dividend of **₹20 per share**. Management highlighted capacity expansions including a 6M ton greenfield plant at Buxar, increased Muddapur capacity to 4.5M tons, and progress on the Jaisalmer integrated 7M ton project (INR3,630 cr capex, INR742 cr spent), targeting EBITDA breakeven for paints by FY27. Balance sheet shows gross debt of **₹5,136 crores**, net cash of **₹1,765 crores**, and net debt of **₹3,370 crores** (net debt/EBITDA: 1.45). Employee expenses rose 25% YoY to support commissioning, with annual costs projected at **₹250 crores**. White cement pricing increased due to input cost inflation, while incentive income declined from GST restrictions but is expected to reach **₹250-260 crores** in FY27 pending approvals. Capex guidance remains **₹3,500-4,000 crores for FY27** and **₹1,500-2,000 crores for FY28**, with white cement volume growth targeted at 8-10% and industry growth assumed at 6-8%.