The company's standalone sales volume increased by 5% to 29.25 lakh tones in Q1 FY24 from 27.86 lakh tones in Q1 FY23. Clinker capacity utilization and cement capacity utilization in the first quarter of FY24 was 97% and 85%, respectively.

Profit before tax in Q1 FY24 stood at Rs 111.51 crore, down by 27% from Rs 152.37 crore in Q1 FY23.

Vinita Singhania, vice chairman & managing director (VC&MD) of the company said: “the operations of the company during the quarter were impacted by unprecedented rain & cyclone Biparjoy in the State of Gujarat & Rajasthan.”

The company said that the work on the expansion project at its subsidiary, Udaipur Cement Works Ltd (UCWL) of 2.50 million tonnes cement plant is on full swing as per schedule. The project is expected to be commissioned in the second quarter of FY25 as per the original schedule. The trial run for clinkerisation line of 1.50 million tonnes per annum has now commenced. UCWL has successfully completed the rights issue of Rs 448 crore in this month. The proceeds of the rights issue are to be deployed in the on-going expansion project of UCWL. Pending its full deployment, the issue proceeds have been temporarily parked by UCWL in fixed deposits with banks.

"Considering the Government's focus on Infrastructure Development & Higher Budgetary allocation towards Infrastructure Development and various Other Initiatives for Housing & Road Development, the Outlook for Cement Sector is quite positive in the coming year,” the cement maker said in a statement.

JK Lakshmi Cement is a cement manufacturer with a presence in Northern, Western and Eastern India's cement markets.