JK Cement Q4 Results: Revenue rises, but margin pressure weighs on profit

JK Cement reported a decline in fourth-quarter profitability for FY26 as operating margins came under pressure despite healthy growth in revenue and cement volumes.

The company posted a consolidated net profit of ₹333 crore for the March quarter, down 7.6% from ₹360.4 crore in the corresponding period last year.

Revenue from operations rose 8.6% year-on-year to ₹3,887.5 crore compared with ₹3,581.2 crore a year ago, supported by higher grey cement volumes and improved realisations.

EBITDA declined 10.8% year-on-year to ₹682.7 crore from ₹765.4 crore, while EBITDA margin contracted sharply to 17.56% from 21.37% in the year-ago quarter.

Ahead of the earnings announcement, shares of JK Cement closed largely flat at ₹5,545.50 on the NSE on Friday.

The board recommended a final dividend of ₹20 per equity share for FY26, subject to shareholder approval at the upcoming annual general meeting.

Operationally, the company reported strong sequential momentum during the quarter. Grey cement sales volume grew 15% quarter-on-quarter, while white cement and wall putty volumes rose 8%.

JK Cement also achieved EBITDA of ₹670 crore during the quarter compared with ₹536 crore in Q3FY26, while net profit nearly doubled sequentially to ₹345 crore from ₹181 crore.

The company commissioned 6 million tonnes per annum (MTPA) of grey cement capacity during FY26, including a 3 MTPA split grinding unit at Buxar in Bihar and additional capacity expansions at Panna, Hamirpur and Muddapur.

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Management said grey cement witnessed double-digit volume growth driven by stronger demand and an expanded footprint in the central and eastern markets. However, white cement operations were impacted by weaker volumes in the UAE amid disruptions linked to the ongoing US-Iran conflict.

Net sales realisation improved to ₹4,841 per tonne from ₹4,724 per tonne in Q3FY26, aided by better pricing and product mix, while trade mix rose to 68% from 60% sequentially.