JK Lakshmi Cement, part of the JK Organisation, has reported a decline of 15.28 per cent in its net consolidated profit during the quarter ended June 30, 2024. Its net profit after tax stood at Rs 67.60 crore in Q1 FY25 as against Rs 79.79 it recorded 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 1,576.96 crore in Q1 FY25, a dip of 9.44 per cent from Rs 1,741.38 crore it recorded in the similar quarter last year.
The board approved the composite scheme of arrangement which provides for the merger of its subsidiaries viz
Udaipur Cement Works (UCWL), Hansdeep Industries & Trading Company and Hidrive Developers & Industries into itself.
Vinita Singhania, chairperson & managing director (CMD) of the company said, “the Consolidation of fragmented Cement capacities into a Single Business Focused Listed Entity shall result in Enhancement of Value for all the Stakeholders.”
The company is implementing a project for enhancing its TSR from 4% to 16% in a phased manner at its Sirohi cement plant as a part of its green initiatives. During the quarter, it has commissioned WHR 3.5 MW at Sirohi.
It is expanding its Cement Grinding capacity at its Surat Grinding Unit from 1.35 million tonnes to 2.7 million tonnes. The project is likely to cost Rs. 225 crore to be funded through term loans from bank of Rs. 150 crore & the balance from internal accruals.
