JK Cement hopes to end the current financial year with 15-16% volume growth translating to total sales of 18-18.5 million tonnes.

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Anuj Khandelwal, the company's Business Head, told CNBC-TV18 that the forecast is backed by the strong show in the first half of the year when the volumes grew over 20%, faster than the industry average.

Khandelwal expects earnings before interest, tax, depreciation, and amortisation (EBITDA) per tonne of ₹1,000-1,100 in the second half of the year.

The Delhi-based company recently raised prices by an average ₹10-15 per bag across various regions.

It now wants to shift its focus to sales of premium products which currently contribute around 12%. "By the end of FY24, we would want to take it to around 14%, and maybe in FY25, target 16-17%," Khandelwal noted.

The company has completed commissioning its new 1.5-million-tonne cement grinding unit at Ujjain, Madhya Pradesh. It will source its clinker from the Rajasthan integrated plant at Mangrol.

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JK Cement's current market capitalisation is at ₹27,264 crore and competes with Shree Cement, Mangalam Cement and JK Lakshmi Cement.

Shares of the company have gained more than 15% over the last month compared to gains of around 4% in the benchmark Nifty 50.

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(Edited by : Shweta Mungre)

First Published:Nov 28, 2023 12:39 PM IST