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JK Lakshmi Cement has poor 4Q

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World Cement,

JK Lakshmi Cement has reported a 2.7% increase in stand alone net profit for FY14/15, reaching Rs.95.60 crore compared to Rs.93 crore in FY13/14. Total income from operations rose 12.18% y/y to Rs.2307.06 crore. However, 4Q figures were substantially depreciated, with net profit plunging more than 88% to Rs.6.05 crore and income down 11.41% at Rs.595.94 crore. The poor results are attributed to a one-time cost for sales tax exemption and marketing expenses, as well as unseasonal rains bringing down demand in rural areas.

The company commissioned 1.7 million t of its 2.7 million t greenfield project in Durg (Chattisgarh) during the quarter.

The company managed to contain variable costs by improving coal consumption to 704 kcal/kg from 726 kcal/kg in FY13/14. Waste heat recovery generation also improved, aiding energy costs. The company is optimistic that infrastructure investment will boost growth later in the year.

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