JK Cement to consider ₹500-crore NCD issue in May 24 board meet – CNBC TV18

One of the leading cement producers, J K Cement Ltd, on Friday (April 11) said it will consider raising up to ₹500 crore through private placement of non-convertible debentures (NCDs) at its board meeting scheduled for May 24. The fundraising plan, if approved, will be recommended for shareholder approval at the company’s upcoming 31st annual general meeting.

The board meeting, to be held at the company’s corporate office in Gurgaon, will also review and approve the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2025. The board will also consider a final dividend on equity shares for FY2024-25, subject to shareholder confirmation.

The proposed NCD issuance of up to ₹500 crore may be undertaken in one or more tranches within a year from the date of the AGM.

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For the third quarter, the company’s net profit slipped 33.2% to ₹189.6 crore from last year’s ₹283.8 crore. Its revenue came in at ₹2930.3 crore, down 0.2% from ₹2,934.8 crore in the Q3FY24.

The company’s earnings before interest, tax depreciation and amortisation (EBITDA) came in at ₹492.2 crore, down 21.2% from last year’s ₹625 crore. Its margin too slipped to 16.8% from 21.3% a year ago.

Shares of JK Cement Ltd ended at ₹4,960.25, up by ₹78.95, or 1.62%, on the BSE.

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