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.

LIVE on April 23rd: Has Covid impacted India's long-term growth potential?

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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