Revenue from operations grew by 18.1% year on year to Rs 2,777.88 crore in the quarter ended 31 March 2023.

Profit before tax in Q4 FY23 stood at Rs 158.17 crore, down 39.7% from Rs 262.46 crore posted in Q4 FY22.

Total expenses rose 24.77% YoY to Rs 2,658.03 crore during the quarter. Cost of raw material consumed was at Rs 418.32 crore (up 29.95% YoY) while employee benefit expenses stood at Rs 168.14crore (up 23.79% YoY).

On the margins front, the company's operating margin reduced to 12.60% in Q4 FY23 as against 16.09% reported in Q4 FY22. Net profit margin slipped to 3.91% in Q4 FY23 as compared to 8.10% recorded in Q4 FY22.

On full year basis, the company's consolidated net profit declined 38% to Rs 426.33 crore despite of 21.6% rise in revenue to Rs 9,720.20 crore in FY23 over FY22.

Meanwhile, the firm's board has recommended a dividend of Rs 15 per equity share for FY23, subject to approval of the shareholders at the AGM.

Further, the company said it plans to raise funds upto Rs 500 crore by issuance of secured/redeemable non-convertible debentures (NCD's) in one or more series/tranches on private placement basis. The company's board has recommended a proposal in this regard for approval of shareholders in the upcoming AGM.

The fund raising will be at an interest rate that will be determined by the prevailing money market conditions at the time of borrowing.

JK Cements is engaged in the manufacturing and selling of Cement and Cement related products.

Shares of JK Cements gained 1.51% to Rs 3,049.55 on the BSE.