J.k. Cement Ltd. · NSE:JKCEMENT
J.k. Cement — Q4 FY24 Earnings Presentation
34 slides from J.k. Cement's earnings presentation, May 12, 2024
Slide 1: Outcome of the Board Meeting cover letter
JKCL/35/SE/2024-25 (BM-3/24) 12th May, 2024 BSE Ltd. National Stock Exchange of India Ltd., Corporate Relationship Department, Exchange Plaza, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (E), Mumbai-400051 Dalal Street, Fort, Mumbai-400001 Scrip Code: JKCEMENT (ISIN.INE Scrip Code:532644
Slide 2: Investor Presentation Q4 FY24
Investor Presentation Q4 FY24
Slide 3: Agenda
Agenda 1 Industry Overview 2 ESG & CSR Performance 3Company Overview 4Q4 FY24 Performance
Slide 4: Industry Overview
Industry Overview Demand (MMT) Growth Macro Indicators 472 443 12.0% 12.0% 399 11.0% 356 9.0% 335 327 328 8.0% 299 269 274 6.5% 5.0% 2.0% 1.0% -3.0% FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25E Cement demand to have moderate growth of 6- 7% in FY 25 E driven by Infra & Industrial/commercial se
Slide 5: ESG & CSR
ESG & CSR
Slide 6: Key ESG Metrics and Sustainability Goals
Key ESG Metrics and Sustainability Goals Shaping a sustainable future CO2 Emission Green Power Mix Thermal Substitution Rate Water Positivity (Kg/Ton of Cementitious Material) (%) (%) (Times) 520 44 13.9 4.5 FY23 512 51 16.3 5 FY’24 465 75 35 5 Target FY30 Specific Net Scope 1 emission Green Power m
Slide 7: Social Impact & CSR Outreach
Social Impact & CSR Outreach Building resilient communities Social & CSR Expenditure YTD Mar’24 ₹ 46.84 Cr 42% 42% 16% Education Rural Infrastructure & Health Community Development Contribution for upliftment of society & eradication of poverty Promoting higher education and over 2.24 Lakhs direct b
Slide 8: Social Impact & CSR Outreach (contd.)
Social Impact & CSR Outreach (contd.) Health Camp organized at Nimbahera Eye Camp Organised at Muddapur Wall Painting of schools at Muddapur School bag distribution at Panna Construction of Village Road at Panna Community Hall Construction at Nimbahera Water Tank at Balasinor Adarsh farm project at
Slide 9: Company Overview
Company fis, Overview a —__
Slide 10: Company Snapshot
Company Snapshot Building on a strong foundation 22.2 MTPA 2.21 MTPA Paint Portfolio- Grey Cement Capacity Growing boundaries White Cement & Wall for Paints Business Putty Capacity in India 182.94 MW 82.3 MW 100.64 MW Green Power Capacity Waste Heat Recovery Captive Solar and Wind System (WHRS) Powe
Slide 11: Promoting Renewable Energy
Promoting Renewable Energy Green Power addition during this fiscal Image to come from client 28.30MW 25.49MW Wind Power Generation Solar Power Generation (22 MW Agreement is till 31st Mar’24) 10
Slide 12: Expansion - Progress on Track (Prayagraj)
Expansion - Progress on Track… Greenfield Expansion at Prayagraj (Grinding Unit) Cement Silo & Packing Plant Hopper & Cement Mill Status Update Capex YTD Mar’24 2.0 MTPA ▪ ▪ Civil work almost complete . Fabrication work completed. ₹ 275 Cr Grey Cement Capacity ▪ Mechanical erection work is going on
Slide 13: Expansion - Progress on Track (Panna)
Expansion - Progress on Track… 3.3 MTPA Clinker Line-2 & 1 MTPA cement capacity expansion at Panna, M.P. Proposed 6 MTPA Expansion in Central India ❑ Orders for main Plant & Machinery released . ❑ Civil & Mechanical Contractors work order released. ❑ Construction work started at site . ❑ Project Cos
Slide 14: FY 23-24 Business Performance Highlights
FY 23-24 Business Performance Highlights ❖ Grey Cement Sales Volume grew at 19% . ❖ Central India expansion achieved 83% capacity utilization in first full year of operations ❖ Commissioned Ujjain Grinding unit of 1.5 Mntpa within 12 months of start of work. ❖ Acquired Toshali Cement (P) Ltd to exte
Slide 15: Performance Highlights Q4 FY24
4 Performance Highlights Q4 FY24
Slide 16: Key Performance Highlights for Q4FY24 – Grey Cement
Key Performance Highlights for Q4FY24 – Grey Cement Capacity Grey Volume Net Sales Blended Cement Premium Utilisation Realisation / Trade Mix Products Blended Cement 85% 4.67 ₹4928 per 66% 13% Million ton Trade mix of Trade Sales Tons 61% 15
Slide 17: Volume Highlights – Quarterly
Volume Highlights – Quarterly Sustained momentum Lakh Tons Grey Business White Business Combined 13%YoY 3% 12% YoY YoY 13 QOQ % 1 QOQ % 11 QOQ % 5.47 46.76 41.38 41.52 5.33 5.53 1.10 1.29 1.31 46.76 4.23 4.24 4.16 41.38 41.52 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24 Standalone
Slide 18: Volume Highlights – Yearly
Volume Highlights – Yearly Sustained momentum Lakh Tons Grey Business White Business Combined 19% YoY 9% 18% YoY YoY 22.28 20.48 4.28 5.75 168.65 141.85 168.65 141.85 16.20 16.54 FY23 FY24 FY23 FY24 FY23 FY24 Grey White Standalone Subsidiary Double digit volume growth in Grey Cement & high single di
Slide 19: Standalone Financial Highlights
Standalone Financial Highlights Particulars (₹ Cr) Q4FY24 Q3FY24 QoQ Q4FY23 YoY Grey Net Sales 2304 2144 7% 2072 11% White Net Sales 522 520 0 541 4% Total Net Sales 2826 2,664 6% 2612 9% Combined EBITDA 548 608 10% 364 51% 18
Slide 20: Standalone Financial Highlights – FY24 Vs FY23
Standalone Financial Highlights –FY24 Vs FY23 Particulars (₹ Cr) FY24 FY23* YoY Grey Net Sales 8447 7052 20% White Net Sales 2038 2042 0% Total Net Sales 10485 9094 15% Combined EBITDA 2005 1320 52% *Recasted 19
Slide 21: Consolidated Financial Highlights
Consolidated Financial Highlights Particulars (₹ Cr) Q4FY24 Q3FY24 QoQ Q4FY23 YoY Grey Net Sales 2310 2144 8% 2072 11% White Net Sales* 707 699 1% 653 8% Total Net Sales 3017 2843 6% 2725 11% Combined EBITDA 560 625 11% 350 60% *includes Paints & UAE 20
Slide 22: Consolidated Financial Highlights – FY24 Vs FY23
Consolidated Financial Highlights –FY24 Vs FY23 Particulars (₹ Cr) FY24 FY23* YoY Grey Net Sales 8454 7052 20% White Net Sales 2750 2452 12% Total Net Sales 11204 9504 18% Combined EBITDA 2060 1314 57% *Recasted 21
Slide 23: Key Cost Variables
Key Cost Variables Pet coke 6.5% sulphur USA CFR Diesel Prices ($/MT) (₹/Litre) 177.0 178.8 162.8 145.0 92.70 92.70 92.70 132.3 129.0 134.3 126.0 125.0 125.9 91.60 116.8 116.7 114.0 109.8 109.8 Feb'23 Feb'24 Jul'23 Aug'23 Sep'23 Oc'23 Nov'23 Dec'23 May'23 Apr'23 Jan'23 Jun'23 Jan'24 Mar'23 Mar'24 Ja
Slide 24: Cost Trend (Standalone) – Fuel cost
Cost Trend (Standalone) Fuel cost (Grey) ease further Fuel Fuel Cost (₹ /K.Cal) (₹/MT) 31%YoY 2.41 2% QOQ 1400 1.82 1.79 1200 1287 1000 800 908 889 600 400 200 0 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24 Substantial reduction in Petcoke prices (YOY) 23
Slide 25: Cost Trend (Standalone) – Logistic cost
Cost Trend (Standalone) Logistic cost Lead Distance Logistics (Kms) (₹/MT) 2% YoY 438 1% QOQ 427 1290 1274 1245 419 Q4FY23 Q3FY24 Q4FY24 Lead (Kms) Q4FY23 Q3FY24 Q4FY24 Lower lead distance (QOQ) 24
Slide 26: Cost Trend (Standalone) – Employee, Other Expenses
Cost Trend (Standalone) Employee Other Expenses (₹/MT) (₹/MT) 19% YoY 3% YoY 3% QOQ 1% QOQ 894 910 919 398 386 324 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24 3% Lower due to Operating Leverage Increase in Branding expenses and overheads 25
Slide 27: Standalone Financial Statement Q4
Standalone Financial Statement QoQ YoY Particulars (₹ Cr) Q4FY24 Q3FY24 Q4FY23 % Inc/Dec %Inc/Dec Net Sales 2856 2690 6% 2612 8% Rev from Operations 2939 2785 6% 2665 10% Operating Expenses 2391 2176 10% 2301 4% EBITDA 548 608 10% 364 51% Margins % 19.2% 22.6% 3.4% 13.8% 5.4% Depreciation 131 118 11
Slide 28: Standalone Financial Statement FY24
Standalone Financial Statement QoQ Particulars (₹ Cr) FY24 FY23 % Inc/Dec Net Sales 10563 9094 16% Rev from Operations 10918 9310 17% Operating Expenses 8913 7990 12% EBITDA 2005 1320 52% Margins % 18.9% 14.5% 4% Depreciation 486 392 24% Finance Cost 437 296 48% Other Income 135 85 59% Profit before
Slide 29: Consolidated Financial Statement Q4
Consolidated Financial Statement QoQ YoY Particulars (₹ Cr) Q4FY24 Q3FY24 Q4FY23 % Inc/Dec %Inc/Dec Net Sales 3017 2843 6% 2725 11% Rev from Operations 3106 2935 6% 2778 12% Operating Expenses 2546 2310 10% 2428 5% EBITDA 560 625 10% 350 60% Margins % 18.5% 21.9% 3.4% 12.8% 5.7% Depreciation 153 140
Slide 30: Consolidated Financial Statement FY24
Consolidated Financial Statement QoQ Particulars (₹ Cr) FY24 FY23 % Inc/Dec Net Sales 11203 9504 18% Rev from Operations 11556 9720 19% Operating Expenses 9496 8406 13% EBITDA 2060 1314 57% Margins % 18.3% 13.8% 4% Depreciation 573 462 24% Finance Cost 453 312 45% Other Income 145 87 67% Profit befo
Slide 31: Cash Profit & Dividend Payout
Cash Profit & Dividend Payout Cash Profit (Standalone) Dividend Per Share (Rs Cr) 5 1555 15.0 15.0 15.0 15.0 968 7.5 FY23 FY24 FY20 FY21 FY22 FY23 FY24 The Board has proposed dividend of Rs 15 per share and special dividend of Rs 5 per share for Golden Jubilee celebration of Grey Cement and 40 years
Slide 32: Consolidated Debt Profile
Consolidated Debt Profile Gross Debt Cash Net Debt (₹ Cr) (₹ Cr) (₹ Cr) 2011 1650 1621 1450 2913 4592 4534 2582 1250 FY23 FY24 FY23 FY24 FY23 FY24 Net Debt/EBITDA Equity Net Debt/Equity (₹ Cr) 2.21 5353 0.63 4640 1.29 0.48 FY23 FY24 FY23 FY24 FY23 FY24 31
Slide 33: Awards & Accolades
Awards & Accolades India Cement Review Second Fastest Growing 14th CII National HR Excellence Awards for FY 2023-24, Cement Company (Large Category) Award recognition in the ‘Strong Commitment to HR Excellence’ category. 32
Slide 34: Thank You
Thank You