JK Cement has reported a dip of 44.81 per cent in its net consolidated profit during the quarter ended March 31, 2023. It’s profit after tax stood at Rs 110.08 crore in Q4 FY23 as against Rs 199.44 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 2,815.84 crore in Q4 FY23, a growth of 17.67 per cent from Rs 2,392.98 crore it recorded in the similar quarter last year.
The board of directors recommended for the approval of shareholders resolution to raise fund by issue of secured/redeemable nonconvertible debentures in one of more series/tranches on private placement basis for an amount upto Rs. 500 crore.
The board recommended dividend at the rate of Rs 15 per equity share (i.e. 150%) of Rs 10 each (fully paid up) for the financial year 2022-23.
As on March 31, 2023, the company’s net worth stood at Rs 4,642.35 crore, debt-equity ratio was 1.08, current liability ratio was 0.29%, total debts to total assets was 0.38%, operating margin was 12.60% and net profit margin was 3.91%.
The board took note of K.B. Agarwal’s relinquishment from March 31, 2023, considered, approved and recommended to the shareholders reappointment of non-executive, non-independent director Sushila Devi Singhania, re-appointment of non-executive independent directors namely Deepa Gopalan Wadhwa for five years with effect from November 3, 2023, Ashok Sinha and Saurabh Chandra for five years with effect from May 18, 2024 and continuation of directorship after attaining the age of 75 years by Paul Heinz Hugentobler on February 14, 2024.
