JK Lakshmi Cement to lead Rs 80 billion capex for growth

16 Jun 2023 CW Team

JK Lakshmi Cement has announced its plans to invest approximately Rs 80 billion over a span of six years. Their goal is to increase their capacity to 30 million tpa (tonnes per annum) from the projected 18 million tpa by the end of FY24. The company aims to achieve this target by 2030.

In order to expand their immediate capacity, the company is currently in the process of increasing capacity at their subsidiary, Udaipur Cement Works in Rajasthan, by 2.5 million tpa. This expansion involves both clinker and cement-making capacities of 1.5 million tpa and 2.5 million tpa respectively, requiring an estimated capital expenditure of Rs 1,650 crore.

It is expected that the commissioning of this expansion will take place in the next few quarters, which will position the company as one of the top ten cement manufacturing companies in India. So far, they have already incurred Rs 8.5 billion until FY23.

JK Lakshmi Cement, which recently entered east-central Uttar Pradesh, is pursuing both organic expansion and inorganic growth through acquisitions. Currently, they are exploring the possibility of acquiring land for greenfield projects in Nagaur (Rajasthan) and Kutch (Gujarat).

Furthermore, the company has significant proven reserves in its operational limestone mines in Rajasthan, which allows for the brownfield expansion. However, the new mining assets in Rajasthan and Gujarat have yet to commence operations.

While the government's initiatives are expected to boost demand for infrastructure projects, housing, and construction activities, JK Lakshmi Cement primarily witnesses 62-65% of its demand from the housing sector, 20-25% from infrastructure projects, and the remaining demand from industrial and commercial activities.

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