Key highlights

• The Company posted 61% jump in consolidated net profit to Rs 159.13 crore on the back of 25% growth in sales turnover to Rs 1,424.32 crore for the fourth quarter ended March 2021. The Company profitability improved despite hike in the prices of inputs like Petcoke, Diesel, Fly Ash, Gypsum, on account of substantial higher volumes, higher realisations, improved efficiency, improved product mix etc.

• The Company subsidiaries Udaipur Cement Works (UCWL) presently has a capacity of 1.2 million tonnes of clinker and 1.6 million tonnes of cement and capacity expansion work worth Rs 60 crore is in final stage, which expected to complete by end of Q1FY22, which will take their capacity in clinker from 1.2 million tonnes to 1.5 million tonnes and cement capacity from 1.6 million tonnes to 2.2 million tonnes. Udaipur Cement also plans expansion project worth of about Rs 1400 crore, which involves setting up of clinkerization additional line of 1.5 million tonnes and 2.5 million tonnes commensurate grinding capacity and will be funded through 30% promoter's contribution and balance by loan.

• The Company consolidated production totalled 71.31 lakh tonnes for clinker and 92.61 lakh tonnes for cement for FY21. Total consolidated sales volume was 104.5 lakh tonne. For Q4FY21, JK Lakshmi sale was 29.04 lakh tonnes, and Udaipur Cement Works 581,000 tonnes, totalled 34.85 lakh tonnes. After eliminating inter-unit of 4.48 lakh tonnes, net consolidated sales stood at 30.87 lakh tonnes.

• As of March 2021, the Company gross debt was Rs. 1,650 crore on a consolidated basis, and cash of about Rs. 830 crores on a consolidated basis (Rs. 725 crores of JK Lakshmi, and Rs. 105 crores of UCWL). Thus, consolidated net debt was about Rs. 820 crore (Rs. 420 crore of UCWL, and Rs. 400 crore of JK Lakshmi).

• The Company Sirohi plant waste heat recovery project is in progress and that expected to get commission by the Q3FY22. The Company renewable power which is at around 50% in case of Udaipur, 40% plus in case of this Durg, will be at around 40% in Sirohi after the commissioning of this waste heat recovery project

• The Company's subsidiary Udaipur Cement Works project for 5 megawatt is going to cost close to about Rs. 19 crore and would be funded through debt equity of 30:70. And out of that equity, Company contributes 26%, i.e. outgo of about Rs. 1.5 crore. Today the grid cost is about Rs. 7 plus, and this comes to us at less than Rs. 4. So, almost Rs. 3 per unit, and the payback for that investment of Rs. 1.5 crore is 11 months.

• The Company expects CAPEX of around Rs 100 crore for the remnant of the waste heat recovery for FY22 and around Rs. 30 crore to Rs. 40 crore of the normal maintenance CAPEX for FY22.

• The Company mix in terms of trade and non-trade sales was 50% for full year FY 2021.