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NewsVoir
New Delhi [India], February 7: JK Lakshmi Cement Ltd. (JKLC), a Flagship Company of JK Organization today announced its Financial Results for the Third Quarter of Financial Year 2025. Financial Highlights Standalone Composite Scheme of Arrangement Further as a part of Company's ongoing efforts to enhance Shareholders' Value, the Company's Board had approved the Composite Scheme of Arrangement which provides for the Merger of its Subsidiaries viz Udaipur Cement Works Ltd (UCWL), Hansdeep Industries & Trading Company Limited and Hidrive Developers & Industries Limited into itself subject to various Regulatory Approvals & Compliances. The Appointment Date for the Merger is 1st April 2024. The Company has already approached the Regulatory Authorities for their consents. Pending the necessary approvals, the effect of the Scheme has not been given in the Financial Results. Commenting on the Results of the Company, Smt. Vinita Singhania, Chairperson & Managing Director (CMD) of the Company said, "The Profitability of theCompany for the Quarter has been impacted due to Lower Sales Realization in our primary markets." Sustainability 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. The Share of Renewable Power Green Power in the Company's Power Mix was 48% for the Quarter. CAPEX The Company 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 Crores to be funded through Term Loans from Bank of Rs. 150 Crore & the balance from Internal Accruals. The Company is also putting up a Railway Siding at its Durg Cement Plant at a Cost of Rs.325 Crores to be funded through a Debt of Rs. 225 Crores & the balance through Internal Accruals. The Company is expanding the Clinker Capacity at its integrated Cement Plant at Durg in Chhattisgarh by putting up an Additional Clinker Line of 2.3 Million Tonnes Per Annum & Four Cement Grinding Units aggregating to 4.6 Million Tonnes Per Annum at Durg in Chhattisgarh and also Three Split Location Cement Grinding Units with aggregate Cement Grinding Capacity of 3.4 Million Tonnes Per Annum at Prayagraj in Uttar Pradesh, Madhubani in Bihar & Patratu in Jharkhand. The Project is likely to cost Rs.2500 Crores & is proposed to be funded through Term Loans from Banks of Rs.1750 Crores & the balance through Internal Accruals. Consolidated Financial Results for the Quarter & Nine Months ended 31st December 2024. Awards & Accolades 1. JK Lakshmi Cement felicitated with Innovation in CSR Practices Award At 11th edition of CSR Summit & Awards 2024 by UBS Forums. 2. 7 Gold Awards at Rajsamand Chapter Convention of Quality Circle Forum of India, 2024 to Sirohi Unit. 3. JK Lakshmi Cement (Sirohi Unit) was honoured for exceptional commitment to workforce welfare with the Best Employer Award by the Employers Association of Rajasthan. 4. JK Lakshmi Cement (Durg Unit) was awarded the Silver Category Award for outstanding performance in AF and AR co-processing at the International Waste Management Conference. 5. JK Lakshmi Cement (Surat Grinding Unit) was awarded the Gold Award in the Cement Category at the Grow Care India Energy Efficiency Award by M/s Grow Care India. 6. JK Lakshmi Cement (Cuttack Grinding Unit) was awarded the Odisha CSR & Leadership Award 2024 at the Odisha CSR forum. 7. JK Lakshmi Cement (Jhajjar Grinding Unit) was awarded the Platinum Award in the Environment Preservation Category at the 16th Exceed Environment Award Ceremony. 8. Durg Unit is recognized as the "Energy Efficient Unit" at the 25th National Award for Excellence in Energy Management 2024 by CII. 9. "Platinum Award 2024" in the Environment Preservation category for Outstanding Practices on "Environment Preservation" in the Cement Industry at the 16th Exceed Environment Award Ceremony to Jhajjar Grinding Unit. Outlook Considering the Government's continuous focus on Infrastructure Development & Higher Budgetary allocation towards Infrastructure Development and various Other Initiatives for Housing & Road Development, the Outlook for Cement Sector is positive in the coming year. JK Lakshmi Cement Limited is a part of the prestigious JK Organisation which is over hundred and thirty-five years old and boasts operations in India and abroad with a leadership presence in the fields of tyre, cement, paper, power transmissions, sealing solutions, dairy products and textiles. JK Lakshmi Cement is a renowned and well-established name in the Indian Cement industry for four decades and has an annual turnover of over Rs 6000 crores. The Company has a formidable presence in Northern, Western and Eastern India's cement markets. Having started in 1982, the Company has modern and fully computerized, integrated cement plants at Jaykaypuram, in the Sirohi district of Rajasthan, at Dabok, in the Udaipur district of Rajasthan (a subsidiary of the company) and at Ahiwara, in the Durg district of Chhattisgarh. The Company also has four split location grinding units at - Kalol and Surat in Gujarat, Jhamri in the Jhajjar district of Haryana and Cuttack in Odisha. The present combined capacity of the Company is about 16.4 Million Tonnes per annum. The Company has also introduced Smart Business Solution Products (SBS) such as JK Lakshmi Concrete- Ready Mix Concrete (RMC), JK Lakshmi- Gypsum Plaster, JK Lakshmi Wall Putty and JK Lakshmi Fly Ash Blocks. JK Lakshmi Cement has a Vision of reaching Cement Capacity of 30 Million Tonnes by 2030. (ADVERTORIAL DISCLAIMER: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same)
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