JK CEMENT Announces Quarterly Results (3QFY21); Net Profit Up 73.2%

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JK CEMENT Announces Quarterly Results (3QFY21); Net Profit Up 73.2%
Wed, 10 Feb

JK CEMENT has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

JK CEMENT Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m14,04215,50717,60113.5%25.3%
Other incomeRs m2372873035.6%28.1%
TurnoverRs m14,27815,79417,90413.4%25.4%
ExpensesRs m11,26411,40013,11315.0%16.4%
Gross profitRs m2,7774,1074,4889.3%61.6%
DepreciationRs m5565976224.2%11.8%
InterestRs m56153759310.5%5.7%
Profit before taxRs m1,8973,2603,5769.7%88.5%
TaxRs m5211,0251,19416.5%128.9%
Profit after taxRs m1,3762,2352,3836.6%73.2%
Gross profit margin%19.826.525.5
Effective tax rate%27.531.433.4
Net profit margin%9.614.213.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 25.3% on a year-on-year (YoY) basis. The expenses were up by 16.4% YoY during the same period.
  • The company's operating profit increased by 61.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.5% in 3QFY21 as against 19.8% in 3QFY20.
  • Depreciation charges increased by 11.8% and finance costs increased by 5.7% YoY, respectively.
  • Other income increased by 28.1% YoY during the quarter.
  • Net profit for the quarter increased by 73.2% YoY. Net profit margins during the quarter increased from 9.6% in 3QFY20 to 13.3% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 13.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 15.0% QoQ during the same period.
  • The company's operating profit increased by 9.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.5% in 3QFY21 as against 26.5% in 2QFY20.
  • Net profit for the quarter increased by 6.6% QoQ, while net profit margins declined from 14.2% in 2QFY20 to 13.3% in 3QFY21.

To see how JK CEMENT has performed over the last eight quarters,please visit here.

Check It Out: Are Small Caps the Best Way to Play the Massive EV Opportunity?

JK CEMENT Share Price Performance

Over the last one year, JK CEMENT share price has moved up from Rs 1,420.0 to Rs 2,397.5, registering a Gain of Rs 977.5 or around 68.8%.

Overall, the S&P BSE SENSEX is up 24.9% over the year.

Current Valuations

At the current price of Rs 2,397.5, the price to earnings (P/E) ratio of JK CEMENT stands at 31.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.5 times.

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