New Delhi: JK Lakshmi Cement Limited (JKLC) unveiled its fiscal year 2023-24 financial results, showcasing a resilient performance marked by a 4 percent increase in standalone net sales and a 1 percent rise in standalone sales volume. Notably, the company achieved a significant capacity utilisation rate of 89 percent in Q4FY24.
Vinita Singhania, chairperson and managing director of JK Lakshmi Cement Ltd., credited the strong performance to "increased production, a better product mix, and lower fuel costs." She reaffirmed the company's commitment to sustainability and innovation, highlighting the exciting opportunities in the housing real estate industry and the government's infrastructure priorities.
According to a release, JK Lakshmi Cement's sustainability initiatives include enhancing total suspended particulate matter (TSP) recovery, expanding waste heat recovery (WHR) capacity, and increasing solar power sourcing for its Durg Integrated Cement Plant. In terms of expansion, the company is aggressively pursuing capacity enhancement projects across various locations, including doubling clinker capacity and expanding cement grinding capacity, the release said.
JK Lakshmi Cement recently acquired a stake in Agrani Cement Private Limited, further consolidating its position in the industry. The acquisition includes substantial mining rights with limestone reserves of approximately 335 million tonnes.
JK Lakshmi Cement has said that it "remains optimistic" about India's cement industry growth, driven by government initiatives in infrastructure development, as highlighted in the recent Union Budget for 2024-25.
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