JK Cement targets Rs 250-300 crore in paint sales for FY25

26 Sep 2024 CW Team

JK Cement is set to prioritize the growth of its paints division, aiming for sales between Rs 250-300 crore for the fiscal year 2024-25. Anuj Khandelwal, the Business Head of the Grey Cement Division, emphasized the significant synergies with their existing white cement and putty businesses.

Headquartered in Kanpur, Uttar Pradesh, the company anticipates a 6-8% growth in the cement sector during the latter half of FY25 compared to FY24. As one of India’s leading grey cement producers and a global frontrunner in white cement, JK Cement is preparing for an uptick in demand.

Khandelwal noted that the industry has experienced flat growth over the past six months due to a high comparison base. However, he expects demand to rebound in the second half of FY25, projecting a 6-8% volume growth for JK Cement compared to FY24. If the industry sees a growth rate of 3-4% in FY25, JK Cement aims for a growth of 7-8%.

Brokerage firm Motilal Oswal has maintained its ‘buy’ rating on JK Cement, setting a target price of Rs 5,600 per share. The brokerage has also increased its EBITDA estimates for FY26 and FY27 by 3% and 7%, respectively, and anticipates a compound annual growth rate (CAGR) of 11% in consolidated revenue and 18% in EBITDA from FY24 to FY27. This positive outlook is attributed to JK Cement's expanding operations, enhanced execution strategies, and cost reduction measures.

Currently, JK Cement's market capitalization stands at approximately Rs 36,882.11 crore, with its shares increasing nearly 51% over the past year.

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