JK Cement Q4 results: Net profit rises 101% to ₹220 crore, declares dividend of ₹20 per share

JK Cement Q4 results: The company announced an overall dividend of ₹20, which includes a recommended dividend of ₹15 and a special dividend of ₹5.

JK Cement reported their fourth-quarter financial results today, May 12, 2024. The company’s consolidated net profit increased by 101 percent to ₹219.75 crore in the March 31, 2024 quarter, compared to ₹109.52 crore in the same period last year, meeting street estimates.

In the March quarter, consolidated revenue from operations increased by nearly 11% to ₹3,105.77, up from ₹2,777.88 in the same period last year.

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The corporation declared an overall dividend of ₹20, with a recommended dividend of ₹15 and a special dividend of ₹5.

“Recommended Dividend at the rate of Rs. 15 per equity share (i.e. 150%) and Special Dividend at the rate of Rs. 5 per equity share (i.e. 50%), commemorating the 40 years since the start of the production of white cement and the golden jubilee of the grey cement industry, and requesting approval from the shareholders at the 30th Annual General Meeting for an overall dividend of Rs. 20, or 200% per equity share of Rs. 10 each (fully paid up), for the Financial Year 2023–2024.

“The record date for the Annual General Meeting and payment of dividends and special dividends is July 10, 2024.” The dividend is scheduled to be paid on August 15, 2024, at the latest, according to the company.

The company’s 30th annual general meeting (AGM) to examine fourth-quarter earnings will be conducted on Friday, July 19, 2024, using allowed procedures.

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JK Cement also announced the merger of Acro Paints Limited (the company’s step-down subsidiary) and JK Maxx Paints Ltd. (its fully owned subsidiary), which was approved by the Regional Director (NR) on May 3, 2024.

The company also announced that the board has approved the re-appointment of Nidhipati Singhania as non-executive, non-independent director, Raghavpat Singhania as managing director (MD) of the company for five years, and Madhavkrishna Singhania as MD and CEO of the company for five years, effective June 17, 2025.

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