Shares of JK Lakshmi Cement Ltd (JKLAKSHMI). fell the most in over two months after its fourth quarter, released on Friday, May 19, after market close, failed to meet estimates.
The company reported a fall in net profit of 39.04% at Rs 114.83 crore, failing to meet the Bloomberg estimate of Rs 132.9 crore.
JK Lakshmi Cement Q4 FY23 (Consolidated, YoY)
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- Revenue up 16.39% at Rs 1,862.07 crore (Bloomberg estimate: Rs 1,770.15 crore)
- Ebitda down 28.34% at Rs 232.66 crore (Bloomberg estimate: Rs 248.13 crore)
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- Ebitda margin at 12.49% vs 20.29% (Bloomberg estimate: 14%)
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- Net profit down 39.04% at Rs 114.83 crore (Bloomberg estimate: Rs 132.93 crore)
- The company will pay a dividend of Rs 3.75 per share for the fiscal ended 2023. The board approved raising Rs 300 crore via debt
Shares of JK Lakshmi Cement (JKLAKSHMI) fell 4.79% to Rs 744.75 apiece, compared to a 0.37% gain in the NSE Nifty 50 as of 9:57 a.m. The stock rose 5.65% intraday, the most in over 2 months since March 14.
The average traded volume so far in the day stood at 4.1 times its monthly average.
Of the 22 analysts tracking the company, 17 maintain a ‘buy’ rating, two suggest a ‘hold’, and three suggest a ‘sell’ according to Bloomberg data.
The average 12-month consensus price target implies a potential upside of 5.1%.