JK Lakshmi Cement Q3 Results Review
JK Lakshmi Cement Ltd.'s Q3 FY24 operating performance was above our estimates, with consolidated Ebitda at Rs 3 billion (up 63% YoY; 18% above our estimate). Ebitda/t increased 52% YoY to Rs 1,021 (estimate Rs 909). OPM was up 6pp YoY to ~18%. Adjusted profit after tax grew 82% YoY to Rs 1.4 billion (estimate Rs 1.2 billion).